Civic Intelligence

Venture North Funding and Development

990 • Fiscal year 2019 • EIN 38-2857500

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 06, 2020

Organization ProfileVENTURENORTHFUNDING.ORG
202 E Grandview ParkwayTraverse City, MI 49684

(231) 947-5075

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.42x

Higher debt load relative to assets than 72% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

5.01x

Higher debt load relative to revenue than 94% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

8th percentile

-40%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

54th percentile

$131,049

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 25.2% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

23rd percentile

-3.1%

Faster asset growth than 23% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

10th percentile

-31%

Faster revenue growth than 10% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$6,216,596

Down $201,350 (-3.1%) from 2018

Net Assets

Down

$3,610,873

Down $207,293 (-5.4%) from 2018

Liabilities

Up

$2,605,723

Up $5,943 (+0.2%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin8th percentile

Revenue

Down

$520,515

Down $231,977 (-31%) from 2018

Expenses

Up

$727,808

Up $310,696 (+74%) from 2018

Net Income

Down

-$207,293

Down $542,673 (-162%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,357,765Liabilities 2010: $250Net Assets 2010: $1,357,5152010Assets 2011: $1,398,671Liabilities 2011: $17,787Net Assets 2011: $1,380,8842011Assets 2012: $1,422,775Liabilities 2012: $4,501Net Assets 2012: $1,418,2742012Assets 2013: $1,545,694Liabilities 2013: $127,593Net Assets 2013: $1,418,1012013Assets 2014: $4,001,710Liabilities 2014: $2,041,520Net Assets 2014: $1,960,1902014Assets 2015: $4,723,107Liabilities 2015: $2,356,363Net Assets 2015: $2,366,7442015Assets 2016: $4,969,866Liabilities 2016: $2,120,945Net Assets 2016: $2,848,9212016Assets 2017: $5,801,313Liabilities 2017: $2,318,527Net Assets 2017: $3,482,7862017Assets 2018: $6,417,946Liabilities 2018: $2,599,780Net Assets 2018: $3,818,1662018Assets 2019: $6,216,596Liabilities 2019: $2,605,723Net Assets 2019: $3,610,8732019Assets 2020: $6,326,209Liabilities 2020: $3,020,516Net Assets 2020: $3,305,6932020Assets 2021: $6,401,052Liabilities 2021: $2,995,221Net Assets 2021: $3,405,8312021Assets 2022: $6,846,913Liabilities 2022: $3,048,580Net Assets 2022: $3,798,3332022Assets 2023: $7,381,749Liabilities 2023: $3,618,604Net Assets 2023: $3,763,1452023Assets 2024: $7,638,410Liabilities 2024: $3,722,821Net Assets 2024: $3,915,5892024

Highlighted filing

2019

Assets$6,216,596
Liabilities$2,605,723
Net Assets$3,610,873
Open 2019 Filing

Operations Trend

Revenue Growth10th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $33,8862010Expenses 2011: $92,2592011Expenses 2012: $21,5982012Revenue 2013: $31,818Expenses 2013: $31,991Net Income 2013: -$1732013Revenue 2014: $588,828Expenses 2014: $46,739Net Income 2014: $542,0892014Revenue 2015: $557,666Expenses 2015: $151,112Net Income 2015: $406,5542015Revenue 2016: $802,391Expenses 2016: $320,214Net Income 2016: $482,1772016Revenue 2017: $1,043,954Expenses 2017: $410,089Net Income 2017: $633,8652017Revenue 2018: $752,492Expenses 2018: $417,112Net Income 2018: $335,3802018Revenue 2019: $520,515Expenses 2019: $727,808Net Income 2019: -$207,2932019Revenue 2020: $971,490Expenses 2020: $1,276,670Net Income 2020: -$305,1802020Revenue 2021: $1,349,702Expenses 2021: $1,249,564Net Income 2021: $100,1382021Revenue 2022: $1,193,048Expenses 2022: $800,546Net Income 2022: $392,5022022Revenue 2023: $987,877Expenses 2023: $1,023,065Net Income 2023: -$35,1882023Revenue 2024: $1,178,560Expenses 2024: $1,026,116Net Income 2024: $152,4442024

Highlighted filing

2019

Revenue$520,515
Expenses$727,808
Net Income-$207,293
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 6, 2020
Return Version
2019v5.1
Gross Receipts
$520,515
Mission and Program Overview

Mission

To receive and administer funds to foster, promote and conduct nonpartisan research and distribute policy studies on issues facing the traverse city area, sponsor, plan and conduct nonpartisan community education programs, sponsor a leadership institute, and solicit, collect, receive and administer funds exclusively for charitable, scientific and educational purposes.

To facilitate economic development in the northwest michigan region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,370,672$3,400,212▲ $29,540
Other Notes and Loans Receivable, Net$2,916,535$2,703,531▼ $213,004
Investments Other Securities$100,000$100,000→ $0
Land, Buildings, and Equipment, Net$13,275$9,735▼ $3,540
Accounts Receivable$15,811$1,744▼ $14,067
Prepaid Expenses and Deferred Charges$1,653$1,374▼ $279
Total Assets$6,417,946$6,216,596▼ $201,350
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,653,505$1,640,264▼ $13,241
Other Liabilities$926,962$888,621▼ $38,341
Accounts Payable and Accrued Expenses$8,313$51,770▲ $43,457
Deferred Revenue$11,000$25,068▲ $14,068
Total Liabilities$2,599,780$2,605,723▲ $5,943
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,813,916$3,610,873▼ $203,043
Net Assets With Donor Restrictions$4,250$0▼ $4,250
Total Net Assets Fund Balance$3,818,166$3,610,873▼ $207,293
Total Liabilities and Net Assets / Fund Balance$6,417,946$6,216,596▼ $201,350

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,735$7,965$17,700
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Warren CallDirector-$131,049$131,049
Laura GalbraithExecutive DirectorFT$107,656$107,656
Doug LucianiPast Director-$46,356$46,356

Board Members and Trustees

NameTitle
Fred TurcotteChair
Paul BrittenImmediate Past Chair
Laura TrudeauVice Chair
Bob BrickDirector
Carla GribbsDirector
Kirk JabaraDirector
Laura ReznichDirector
Mark HeplerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$200,434
Program Service Revenue
$172,189
Investment Income
$138,592
Other Revenue
$9,300
All Other Contributions
$172,771
Change in Net Assets
$-207,293

Audited Revenue Reconciliation

Revenue per Audited Statements
$520,515
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$520,515
Total Revenue per Form 990
$520,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$451,272
Salaries, Compensation, and Employee Benefits$276,536
Total Fundraising Expense$97,814
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$199,148$3,946$70,655$273,749
Fees for Services Management$240,093$863$15,451$256,407
Interest$26,716$4$68$26,788
Travel$5,064$100$1,797$6,961
Occupancy$3,789$75$1,345$5,209
Depreciation Depletion$2,576$51$913$3,540
Advertising$2,498$49$886$3,433
Other Employee Benefits$2,028$40$719$2,787
Other Expenses$1,047$21$371$1,439
Office Expenses$798$16$283$1,097
Insurance$581$12$205$798
All Other Expenses$498$10$176$684
Total Functional Expenses$624,734$5,260$97,814$727,808

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$727,808
Total Expenses per Audited Statements$727,808
Total Expenses per Form 990$727,808
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Grant Advance$884,956
Due to Affiliates and Related Parties$3,665
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is provided to the finance commitee for review prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Each board member is required to complete a conflict of interest disclosure form every year. These forms are reviewed by staff and any possible conflicts are then brought to the attention of the board.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Venture North Funding and Development
EIN
38-2857500
Phone
2319475075
Address
202 E GRANDVIEW PARKWAY, TRAVERSE CITY, MI 49684

Signing Officer

Name
Laura Galbraith
Title
Executive Director
Phone
2319957113
Signed
2020-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Galbraith
Formed
2015
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
8

Preparer

Firm
Dgn LLC
Address
PO BOX 947, TRAVERSE CITY, MI 49685-0947
Preparer
Mary F Krantz CPA
Phone
2319461722
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 7

“The organization leases employees from traverseconnect, a related organization.”

Form 990, Part IX, Line 7

“The board of directors assumes responsibility for the oversight and selection of the auditors.”

Financial Statement Notes

PART X, LINE 2:

“Venture north funding and development is exempt from federal income tax under the provisions of section 501(c)(3) of the internal revenue code. Venture north funding and development has no business income unrelated to their exempt purposes and therefore, have not filed income tax returns in any state jurisdiction. With few execeptions, the organization is no longer subject to us federal tax examinations by tax authorities for years before 2016.”

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IRS990/OccupancyGrp/FundraisingAmt01345
IRS990/OccupancyGrp/ManagementAndGeneralAmt075
IRS990/OccupancyGrp/ProgramServicesAmt03789
IRS990/OccupancyGrp/TotalAmt05209
IRS990/OfficeExpensesGrp/FundraisingAmt0283
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt016
IRS990/OfficeExpensesGrp/ProgramServicesAmt0798
IRS990/OfficeExpensesGrp/TotalAmt01097
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0719
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt040
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02028
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02787
IRS990/OtherExpensesGrp/Desc0LOAN LOSS RESERVE
IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2MEALS & ENTERTAINMENT
IRS990/OtherExpensesGrp/Desc3BANK SERVICE CHARGES
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt11300
IRS990/OtherExpensesGrp/FundraisingAmt23645
IRS990/OtherExpensesGrp/FundraisingAmt3371
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt173
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt321
IRS990/OtherExpensesGrp/ProgramServicesAmt0136230
IRS990/OtherExpensesGrp/ProgramServicesAmt13668
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt31047
IRS990/OtherExpensesGrp/TotalAmt0136230
IRS990/OtherExpensesGrp/TotalAmt15041
IRS990/OtherExpensesGrp/TotalAmt23645
IRS990/OtherExpensesGrp/TotalAmt31439
IRS990/OtherLiabilitiesGrp/BOYAmt0926962
IRS990/OtherLiabilitiesGrp/EOYAmt0888621
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt09300
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt09300
IRS990/OtherRevenueTotalAmt09300
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt070655
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt03946
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0199148
IRS990/OtherSalariesAndWagesGrp/TotalAmt0273749
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt02916535
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02703531
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01653
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01374
IRS990/PrincipalOfficerNm0LAURA GALBRAITH
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541610
IRS990/ProgramServiceRevenueGrp/BusinessCd1541610
IRS990/ProgramServiceRevenueGrp/Desc0LOAN APPLICATION & ADM
IRS990/ProgramServiceRevenueGrp/Desc1FEES FOR SERVICE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0162189
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt110000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0162189
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt110000
IRS990/ProgSrvcAccomActy2Grp/Desc0VENTURE NORTH HAS CONTRACTED WITH MI-SBDC TO PROVIDE BUSINESSES WITH MULTIPLE SERVICES AND RESOURCES THAT PROMOTE GROWTH, IMPROVE PROCESSES, INCREASE SALES AND BECOME A THRIVING BUSINESS. SERVED 41 BUSINESSES IN 2019.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt09974
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt010000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0509918
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0142828
IRS990/PYOtherExpensesAmt0142119
IRS990/PYOtherRevenueAmt010850
IRS990/PYProgramServiceRevenueAmt088896
IRS990/PYRevenuesLessExpensesAmt0335380
IRS990/PYSalariesCompEmpBnftPaidAmt0274993
IRS990/PYTotalExpensesAmt0417112
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0752492
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-207293
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0287294
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03370672
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03400212
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0200434
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0509918
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0752280
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0575706
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0322596
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02360934
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt013488
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0142828
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0101199
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0156265
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt084517
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0498297
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0297293
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt088896
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0183695
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt070420
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt047407
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0687711
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt013488
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0142828
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0101199
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0156265
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt084517
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0498297
IRS990ScheduleA/InvestmentIncomeCYPct00.14010
IRS990ScheduleA/InvestmentIncomePYPct00.14390
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt09300
IRS990ScheduleA/OtherIncome509Grp/TotalAmt09300
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.85730
IRS990ScheduleA/PublicSupportPY509Pct00.85610
IRS990ScheduleA/PublicSupportTotal509Amt03048645
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0497727
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0598814
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0935975
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0646126
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0370003
IRS990ScheduleA/Total509Grp/TotalAmt03048645
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0520515
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0741642
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01037174
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0802391
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0454520
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03556242
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0727808
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09735
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07965
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt017700
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03665
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1884956
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES AND RELATED PARTIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1GRANT ADVANCE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0520515
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VENTURE NORTH FUNDING AND DEVELOPMENT IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. VENTURE NORTH FUNDING AND DEVELOPMENT HAS NO BUSINESS INCOME UNRELATED TO THEIR EXEMPT PURPOSES AND THEREFORE, HAVE NOT FILED INCOME TAX RETURNS IN ANY STATE JURISDICTION. WITH FEW EXECEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO US FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09735
IRS990ScheduleD/TotalExpensesPerForm990Amt0727808
IRS990ScheduleD/TotalLiabilityAmt0888621
IRS990ScheduleD/TotalRevenuePerForm990Amt0520515
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0520515
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0727808
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PROVIDED TO THE FINANCE COMMITEE FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM EVERY YEAR. THESE FORMS ARE REVIEWED BY STAFF AND ANY POSSIBLE CONFLICTS ARE THEN BROUGHT TO THE ATTENTION OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION LEASES EMPLOYEES FROM TRAVERSECONNECT, A RELATED ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT AND SELECTION OF THE AUDITORS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,216,596
Liabilities
$2,605,723
Net assets
$3,610,873
Revenue
$520,515
Expenses
$727,808
Net income
-$207,293
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.64$3.72$3.92$1.18$1.03$0.15
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.38$3.62$3.76$0.99$1.02$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.85$3.05$3.80$1.19$0.80$0.39
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.40$3.00$3.41$1.35$1.25$0.10
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$6.33$3.02$3.31$0.97$1.28$0.31
2019Detailed filing. Detailed filing data is available for this year.$6.22$2.61$3.61$0.52$0.73$0.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.42$2.60$3.82$0.75$0.42$0.34
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.80$2.32$3.48$1.04$0.41$0.63
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.97$2.12$2.85$0.80$0.32$0.48
2015Summary only. Only limited summary data is available for this year.$4.72$2.36$2.37$0.56$0.15$0.41
2014Detailed filing. Detailed filing data is available for this year.$4.00$2.04$1.96$0.59$0.05$0.54
2013Detailed filing. Detailed filing data is available for this year.$1.55$0.13$1.42$0.03$0.03$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$0.00$1.42$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.02$1.38$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.00$1.36$0.03
Peer Organizations

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