Civic Intelligence

Ventana Fund

990 • Fiscal year 2016 • EIN 46-5367784

Oct 01, 2015 to Sep 30, 2016 • Filed on Feb 03, 2017

Organization Profilewww.ventanafund.org
344 4th Street SWAlbuquerque, NM 87102

(505) 764-8400

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

7th percentile

0.00x

Higher debt load relative to revenue than 7% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Net Margin

96th percentile

91%

Higher net margin than 96% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Asset Growth

81st percentile

23%

Faster asset growth than 81% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

13th percentile

-31%

Faster revenue growth than 13% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$3,052,616

Up $572,063 (+23%) from 2015

Net Assets

Up

$3,052,518

Up $574,997 (+23%) from 2015

Liabilities

Down

$98

Down $2,934 (-97%) from 2015

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin96th percentile

Revenue

Down

$630,756

Down $289,347 (-31%) from 2015

Expenses

Up

$55,759

Up $477 (+0.9%) from 2015

Net Income

Down

$574,997

Down $289,824 (-34%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$40M$30M$20M$10M$0Assets 2014: $1,615,649Liabilities 2014: $2,949Net Assets 2014: $1,612,7002014Assets 2015: $2,480,553Liabilities 2015: $3,032Net Assets 2015: $2,477,5212015Assets 2016: $3,052,616Liabilities 2016: $98Net Assets 2016: $3,052,5182016Assets 2017: $3,973,385Liabilities 2017: $596,731Net Assets 2017: $3,376,6542017Assets 2018: $5,418,675Liabilities 2018: $609,596Net Assets 2018: $4,809,0792018Assets 2019: $5,832,056Liabilities 2019: $863,796Net Assets 2019: $4,968,2602019Assets 2020: $11,242,030Liabilities 2020: $5,529,854Net Assets 2020: $5,712,1762020Assets 2021: $15,372,019Liabilities 2021: $9,597,519Net Assets 2021: $5,774,5002021Assets 2022: $19,712,945Liabilities 2022: $12,455,016Net Assets 2022: $7,257,9292022Assets 2023: $27,130,256Liabilities 2023: $19,177,308Net Assets 2023: $7,952,9482023Assets 2024: $38,718,982Liabilities 2024: $28,147,276Net Assets 2024: $10,571,7062024

Highlighted filing

2016

Assets$3,052,616
Liabilities$98
Net Assets$3,052,518
Open 2016 Filing

Operations Trend

Revenue Growth13th percentile

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

$6.0M$4.0M$2.0M$0Revenue 2014: $1,630,333Expenses 2014: $17,633Net Income 2014: $1,612,7002014Revenue 2015: $920,103Expenses 2015: $55,282Net Income 2015: $864,8212015Revenue 2016: $630,756Expenses 2016: $55,759Net Income 2016: $574,9972016Revenue 2017: $457,391Expenses 2017: $133,255Net Income 2017: $324,1362017Revenue 2018: $1,611,514Expenses 2018: $179,089Net Income 2018: $1,432,4252018Revenue 2019: $642,220Expenses 2019: $483,039Net Income 2019: $159,1812019Revenue 2020: $1,167,574Expenses 2020: $479,240Net Income 2020: $688,3342020Revenue 2021: $578,725Expenses 2021: $516,401Net Income 2021: $62,3242021Revenue 2022: $2,361,969Expenses 2022: $878,540Net Income 2022: $1,483,4292022Revenue 2023: $1,842,784Expenses 2023: $1,147,765Net Income 2023: $695,0192023Revenue 2024: $4,099,688Expenses 2024: $1,480,930Net Income 2024: $2,618,7582024

Highlighted filing

2016

Revenue$630,756
Expenses$55,759
Net Income$574,997
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Feb 3, 2017
Return Version
2015v3.0
Gross Receipts
$630,756
Mission and Program Overview

Mission

Ventana fund provides early stage financing for affordable housing in new mexico's underserved communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$900,000$1,750,000▲ $850,000
Other Notes and Loans Receivable, Net$1,528,787$1,245,923▼ $282,864
Cash and Non-Interest-Bearing Accounts$49,903$49,437▼ $466
Total Assets$2,480,553$3,052,616▲ $572,063
Other Assets Total$1,863$7,256▲ $5,393
Liabilities
Accounts Payable and Accrued Expenses$3,032$98▼ $2,934
Total Liabilities$3,032$98▼ $2,934
Net Assets / Fund Balance
Permanently Rstr Net Assets-$2,750,000-
Temporarily Rstr Net Assets$900,000$0▼ $900,000
Unrestricted Net Assets$1,577,521$302,518▼ $1,275,003
Total Net Assets Fund Balance$2,477,521$3,052,518▲ $574,997
Total Liabilities and Net Assets / Fund Balance$2,480,553$3,052,616▲ $572,063
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Todd ClarkeChairman/Executive Directo
Mark AllisonVice Chairman
Catherine HummelMember
Robbie LeveyMember
Elizabeth BernalSecretary
Steve AnayaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$593,711
Program Service Revenue
$36,922
Investment Income
$123
Other Revenue
$0
All Other Contributions
$593,711
Change in Net Assets
$574,997

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$93,711Net Realizable Value
Total Noncash Contributions1$93,711-

Audited Revenue Reconciliation

Revenue per Audited Statements
$630,756
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$630,756
Total Revenue per Form 990
$630,756
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$55,759
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$39,305$2,759-$42,064
Fees for Services Accounting-$10,719-$10,719
Insurance-$6,097-$6,097
Fees for Services Legal-$975-$975
Other Expenses$137$98-$98
All Other Expenses$-5,288--$-5,288
Total Functional Expenses$34,154$21,605$0$55,759

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$55,759
Total Expenses per Audited Statements$55,759
Total Expenses per Form 990$55,759
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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 A, line 7A

“The Board of Directors elects a nominating committee for selecting potential new Directors. The nominating committee shall identify potential Directors and present them to the full Board. New Directors may be elected at any meeting where there is a quorum of the Board. The Corporation may adopt additional policies and procedures to vet potential Directors, validate their qualification, and assist the Board in the selection process, provided that such policies and procedures are applied evenly and consistently to all potential new Directors.”

Form 990, Part VI, Section B, line 11

“The Board will review and approve the Form 990 at scheduled board meetings during the year.”

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

“The conflict of interest policy, also known as the "Code of Conduct", is enforced by having board members submit new disclosures every year; those are kept on file by the managing entity. The Board Chair reminds the board to disclose any conflicts of interest prior to votes approving loans.”

Form 990, Part VI, Section C, line 19

“Ventana Fund's governing documents, conflict of interest policy, and financial statements will be available upon request by contacting any member of the Board of Directors at the contact information listed on the website, ventanafund.org. Ventana Fund will eventually be disclosing this information in their Annual Report which was released during the fiscal year ending 9/30/2016.”

Filing and Contact Details

Filer

Filer Name
Ventana Fund
EIN
46-5367784
Phone
5057648400
Address
344 4th Street SW, Albuquerque, NM 87102

Signing Officer

Name
Todd Clarke
Title
Chairman/Executive Director
Phone
5057648400
Signed
2017-02-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Todd Clarke
Formed
2014
Legal Domicile
Nm
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Redw LLC
Address
Post Office Box 93656, Albuquerque, NM 87199-3656
Preparer
Jamie S Fridley CPA
Phone
5059983200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Contracting Services - NMMFA: Program service expenses 21,600. Management and general expenses 2,400. Fundraising expenses 0. Total expenses 24,000. Contracting Services - REDW TECHNOLOGIES: Program service expenses 0. Management and general expenses 359. Fundraising expenses 0. Total expenses 359. Contracting Services - PETER C. WERWATH: Program service expenses 17,705. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,705.”

Financial Statement Notes

Part X, Line 2:

“Ventana recognizes the tax benefit from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. Any such tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Ventana had no unrecognized tax benefits at September 30, 2016.”

Raw XML Appendix375 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt055759
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0630756
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Ventana recognizes the tax benefit from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. Any such tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Ventana had no unrecognized tax benefits at September 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt055759
IRS990ScheduleD/TotalRevenuePerForm990Amt0630756
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0630756
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt055759
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0Mortgage Receivable
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0Net Realizable Value
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt093711
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board of Directors elects a nominating committee for selecting potential new Directors. The nominating committee shall identify potential Directors and present them to the full Board. New Directors may be elected at any meeting where there is a quorum of the Board. The Corporation may adopt additional policies and procedures to vet potential Directors, validate their qualification, and assist the Board in the selection process, provided that such policies and procedures are applied evenly and consistently to all potential new Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board will review and approve the Form 990 at scheduled board meetings during the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The conflict of interest policy, also known as the "Code of Conduct", is enforced by having board members submit new disclosures every year; those are kept on file by the managing entity. The Board Chair reminds the board to disclose any conflicts of interest prior to votes approving loans.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Ventana Fund's governing documents, conflict of interest policy, and financial statements will be available upon request by contacting any member of the Board of Directors at the contact information listed on the website, ventanafund.org. Ventana Fund will eventually be disclosing this information in their Annual Report which was released during the fiscal year ending 9/30/2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Contracting Services - NMMFA: Program service expenses 21,600. Management and general expenses 2,400. Fundraising expenses 0. Total expenses 24,000. Contracting Services - REDW TECHNOLOGIES: Program service expenses 0. Management and general expenses 359. Fundraising expenses 0. Total expenses 359. Contracting Services - PETER C. WERWATH: Program service expenses 17,705. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,705.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NM
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0900000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02480553
IRS990/TotalAssetsEOYAmt03052616
IRS990/TotalAssetsGrp/BOYAmt02480553
IRS990/TotalAssetsGrp/EOYAmt03052616
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0593711
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021605
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt034154
IRS990/TotalFunctionalExpensesGrp/TotalAmt055759
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03032
IRS990/TotalLiabilitiesEOYAmt098
IRS990/TotalLiabilitiesGrp/BOYAmt03032
IRS990/TotalLiabilitiesGrp/EOYAmt098
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02477521
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03052518
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt034154
IRS990/TotalProgramServiceRevenueAmt036922
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0123
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt036922
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0630756
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02480553
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03052616
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01577521
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0302518
IRS990/USAddress/AddressLine1Txt02823 Richmond NE
IRS990/USAddress/CityNm0Albuquerque
IRS990/USAddress/StateAbbreviationCd0NM
IRS990/USAddress/ZIPCd087107
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.ventanafund.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Todd Clarke
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman/Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum05057648400
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Ventana Fund
ReturnHeader/Filer/BusinessNameControlTxt0VENT
ReturnHeader/Filer/EIN0465367784
ReturnHeader/Filer/PhoneNum05057648400
ReturnHeader/Filer/USAddress/AddressLine1Txt0344 4th Street SW
ReturnHeader/Filer/USAddress/CityNm0Albuquerque
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NM
ReturnHeader/Filer/USAddress/ZIPCd087102
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0850203431
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0REDW LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0Post Office Box 93656
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Albuquerque
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0871993656
ReturnHeader/PreparerPersonGrp/PhoneNum05059983200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jamie S Fridley CPA
ReturnHeader/ReturnTs02017-02-07T12:20:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-10-01
ReturnHeader/TaxPeriodEndDt02016-09-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,052,616
Liabilities
$98
Net assets
$3,052,518
Revenue
$630,756
Expenses
$55,759
Net income
$574,997
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.7$28.1$10.6$4.10$1.48$2.62
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.1$19.2$7.95$1.84$1.15$0.70
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.7$12.5$7.26$2.36$0.88$1.48
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.4$9.60$5.77$0.58$0.52$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.2$5.53$5.71$1.17$0.48$0.69
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.83$0.86$4.97$0.64$0.48$0.16
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.42$0.61$4.81$1.61$0.18$1.43
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.97$0.60$3.38$0.46$0.13$0.32
2016Detailed filing. Detailed filing data is available for this year.$3.05$0.00$3.05$0.63$0.06$0.57
2015Summary only. Only limited summary data is available for this year.$2.48$0.00$2.48$0.92$0.06$0.86
2014Summary only. Only limited summary data is available for this year.$1.62$0.00$1.61$1.63$0.02$1.61