Civic Intelligence

Ventana Fund

990 • Fiscal year 2017 • EIN 46-5367784

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 02, 2018

Organization ProfileWWW.VENTANAFUND.ORG
344 4th Street SWAlbuquequerque, NM 87102

(505) 764-8400

Siviq Scores

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

Liabilities / Assets

45th percentile

0.15x

Higher debt load relative to assets than 45% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

1.30x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Net Margin

94th percentile

71%

Higher net margin than 94% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

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.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Asset Growth

83rd percentile

30%

Faster asset growth than 83% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-27%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$3,973,385

Up $920,769 (+30%) from 2016

Net Assets

Up

$3,376,654

Up $324,136 (+11%) from 2016

Liabilities

Up

$596,731

Up $596,633 (+608809%) from 2016

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin94th percentile

Revenue

Down

$457,391

Down $173,365 (-27%) from 2016

Expenses

Up

$133,255

Up $77,496 (+139%) from 2016

Net Income

Down

$324,136

Down $250,861 (-44%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth83rd 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

2017

Assets$3,973,385
Liabilities$596,731
Net Assets$3,376,654
Open 2017 Filing

Operations Trend

Revenue Growth11th 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

2017

Revenue$457,391
Expenses$133,255
Net Income$324,136
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 2, 2018
Return Version
2016v3.1
Gross Receipts
$457,391
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
Other Notes and Loans Receivable, Net$1,245,923$2,394,227▲ $1,148,304
Savings and Temporary Cash Investments$1,750,000$900,000▼ $850,000
Cash and Non-Interest-Bearing Accounts$49,437$676,301▲ $626,864
Total Assets$3,052,616$3,973,385▲ $920,769
Other Assets Total$7,256$2,857▼ $4,399
Liabilities
Grants Payable-$594,731-
Accounts Payable and Accrued Expenses$98$2,000▲ $1,902
Total Liabilities$98$596,731▲ $596,633
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,750,000$3,150,000▲ $400,000
Unrestricted Net Assets$302,518$226,654▼ $75,864
Total Net Assets Fund Balance$3,052,518$3,376,654▲ $324,136
Total Liabilities and Net Assets / Fund Balance$3,052,616$3,973,385▲ $920,769
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Todd ClarkeChairman
Paul CassidyVice Chairma
Catherine HummelMember
Robbie LeveyMember
Shawn ColbertMember
Elizabeth BernalSecretary
Steve AnayaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$400,000
Program Service Revenue
$51,588
Investment Income
$534
Other Revenue
$5,269
Change in Net Assets
$324,136

Audited Revenue Reconciliation

Revenue per Audited Statements
$457,391
Total Revenue per Audited Statements
$457,391
Total Revenue per Form 990
$457,391
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$133,255
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$31,752$19,010-$50,762
Fees for Services Accounting-$8,585-$8,585
Insurance-$4,371-$4,371
Advertising-$3,233-$3,233
Fees for Services Legal-$2,050-$2,050
Other Expenses$108$87-$87
Total Functional Expenses$95,419$37,836$0$133,255

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$133,255
Total Expenses per Audited Statements$133,255
Total Expenses per Form 990$133,255
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
Backup withholding compliance
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, Page 6, Part VI, 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, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, 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, Page 6, Part VI, Line 19

“Ventana funds 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 9/30/2017.”

Filing and Contact Details

Filer

Filer Name
Ventana Fund
EIN
46-5367784
Phone
5057648400
Address
344 4TH STREET SW, ALBUQUEQUERQUE, NM 87102

Signing Officer

Name
Todd Clarke
Title
Chairman
Signed
2018-02-02

Organization Details

Principal Officer
Todd Clarke
Formed
2014
Legal Domicile
Nm
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Hinkle Landers Pc
Address
2500 9TH ST NW, ALBUQUERQUE, NM 87102-1055
Preparer
Farley Vener
Phone
5058838788
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract services 21,600 19,010 0 lender compensation 10,152 0 0 total 31,752 19,010 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“Ventana files their federal form 990 tax return in the u.s. Federal jurisdiction and the online charitable registration in the office of the attorney general for the state of new mexico. Ventana is generally no longer subject to examination by the internal revenue service and the new mexico taxation and revenue department for fiscal years before 2014. The organization is not currently under audit nor has the organization been contacted by any of these jurisdictions. Management believes that they are operating within their tax-exempt purpose. Ventana recognizes interest accrued related to unrecognized tax benefits in interest expenses and penalties in operating expenses, when applicable. No provision for the effects of uncertain tax positions has been recorded for the years ended september 30, 2017 and 2016.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VENTANA FILES THEIR FEDERAL FORM 990 TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND THE ONLINE CHARITABLE REGISTRATION IN THE OFFICE OF THE ATTORNEY GENERAL FOR THE STATE OF NEW MEXICO. VENTANA IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE NEW MEXICO TAXATION AND REVENUE DEPARTMENT FOR FISCAL YEARS BEFORE 2014. THE ORGANIZATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ORGANIZATION BEEN CONTACTED BY ANY OF THESE JURISDICTIONS. MANAGEMENT BELIEVES THAT THEY ARE OPERATING WITHIN THEIR TAX-EXEMPT PURPOSE. VENTANA RECOGNIZES INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSES AND PENALTIES IN OPERATING EXPENSES, WHEN APPLICABLE. NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEARS ENDED SEPTEMBER 30, 2017 AND 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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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 FUNDS 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 9/30/2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT SERVICES 21,600 19,010 0 LENDER COMPENSATION 10,152 0 0 TOTAL 31,752 19,010 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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ReturnHeader/BuildTS02018-03-14 21:41:22Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-02
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ReturnHeader/PreparerPersonGrp/PhoneNum05058838788
ReturnHeader/PreparerPersonGrp/PreparationDt02018-02-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0FARLEY VENER
ReturnHeader/ReturnTs02018-02-02T09:43:16-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-10-01
ReturnHeader/TaxPeriodEndDt02017-09-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,973,385
Liabilities
$596,731
Net assets
$3,376,654
Revenue
$457,391
Expenses
$133,255
Net income
$324,136
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
2017Detailed filing. Detailed filing data is available for this year.$3.97$0.60$3.38$0.46$0.13$0.32
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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