Civic Intelligence

Aire Ventures Inc.

990 • Fiscal year 2017 • EIN 81-4117606

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 14, 2018

1951 NW 7th AveMiami, FL 33136

(305) 981-6875

Siviq Scores

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

Liabilities / Assets

69th percentile

0.03x

Higher debt load relative to assets than 69% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

60th percentile

0.00x

Higher debt load relative to revenue than 60% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

69th percentile

14%

Higher net margin than 69% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

94th percentile

$57,692

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 19.1% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Assets

$43,580

No earlier filing loaded for comparison.

Net Assets

$42,231

No earlier filing loaded for comparison.

Liabilities

$1,349

No earlier filing loaded for comparison.

Revenue

$301,348

No earlier filing loaded for comparison.

Expenses

$259,117

No earlier filing loaded for comparison.

Net Income

$42,231

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2017: $43,580Liabilities 2017: $1,349Net Assets 2017: $42,2312017Assets 2018: $1,357,451Liabilities 2018: $12,400Net Assets 2018: $1,345,0512018Assets 2019: $1,080,950Liabilities 2019: $32,397Net Assets 2019: $1,048,5532019Assets 2020: $875,889Liabilities 2020: $59,518Net Assets 2020: $816,3712020Assets 2021: $2,047,559Liabilities 2021: $71,384Net Assets 2021: $1,976,1752021Assets 2022: $1,443,227Liabilities 2022: $426,295Net Assets 2022: $1,016,9322022Assets 2023: $1,011,501Liabilities 2023: $203,819Net Assets 2023: $807,6822023Assets 2024: $795,300Liabilities 2024: $182,735Net Assets 2024: $612,5652024

Highlighted filing

2017

Assets$43,580
Liabilities$1,349
Net Assets$42,231

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2017: $301,348Expenses 2017: $259,117Net Income 2017: $42,2312017Revenue 2018: $1,677,461Expenses 2018: $369,455Net Income 2018: $1,308,0062018Revenue 2019: $375,605Expenses 2019: $672,103Net Income 2019: -$296,4982019Revenue 2020: $540,622Expenses 2020: $762,804Net Income 2020: -$222,1822020Revenue 2021: $1,912,559Expenses 2021: $752,755Net Income 2021: $1,159,8042021Revenue 2022: $137,078Expenses 2022: $1,096,321Net Income 2022: -$959,2432022Revenue 2023: $764,399Expenses 2023: $973,649Net Income 2023: -$209,2502023Revenue 2024: $672,346Expenses 2024: $867,463Net Income 2024: -$195,1172024

Highlighted filing

2017

Revenue$301,348
Expenses$259,117
Net Income$42,231
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 14, 2018
Return Version
2017v2.2
Gross Receipts
$301,348
Mission and Program Overview

Mission

To bridge systemic gaps in access, opportunity, and racial equity by scaling innovation and technology solutions to them.

Venture Cafe' Miami's mission is to connect innovators to make things happen. The Organization helps innovators by enhancing and accelerating the growth of innovation in Miami through high-impact programming and events and by creating intentional spaces for entrepreneurial individuals and organizations to gather, connect, and build relationships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$500$43,580▲ $43,080
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$500$43,580▲ $43,080
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$500$1,349▲ $849
Total Liabilities$500$1,349▲ $849
Net Assets / Fund Balance
Unrestricted Net Assets-$42,231-
Total Net Assets Fund Balance$0$42,231▲ $42,231
Total Liabilities and Net Assets / Fund Balance$500$43,580▲ $43,080
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Leigh-Ann BuchananExecutive DirectorFT$57,692$57,692

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$301,348
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$301,348
Change in Net Assets
$42,231
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$167,822
Salaries, Compensation, and Employee Benefits$91,295
Total Fundraising Expense$10,360
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$72,858$21,957$4,990$99,805
Current Officers, Directors, Trustees, and Key Employees$37,501$17,306$2,885$57,692
Other Salaries and Wages$24,404$1,356$1,355$27,115
Fees for Services Other$13,725$3,725-$17,450
Payroll Taxes$4,736$1,427$325$6,488
Insurance$4,077$227$226$4,530
Office Expenses$3,976$221$221$4,418
Information Technology$1,824$102$101$2,027
Travel$1,691$94$94$1,879
Fees for Services Accounting$932$52$51$1,035
Other Expenses$806$45$44$895
All Other Expenses$91$318$5$414
Occupancy$90$5$5$100
Advertising$61$4$3$68
Total Functional Expenses$201,863$46,894$10,360$259,117
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

Draft of form 990 was distributed via email with a comment period available before filing

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Quarterly conflict of interest policy review and disclosure solicitiations are circulated to the above referenced parties for completion.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

(1) The board convenes an independent compensation subcommittee, not including the person receiving the compensation to conduct a comparability review comprised of an evaluation of comparable salary and benefits data, including but not limited to such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, and of a similar budget size, that are located in the same, or a similar geographic region, pay their senior leaders. (2) the board compensation committee documents who was involved, confirms the respective independence of each member thereof, the process used to conduct the review, as well as the disposition of the full board's decision to approve the executive director's compensation. (3) Said documentation demonstrates that the board took the comparable data into consideration when it approved the compensation.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

(1)The board convenes an independent compensation subcommittee, not including the person receiving the compensation to conduct a comparability review comprised of an evaluation of comparable salary and benefits data, including but not limited to such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, and of a similar budget size, that are located in the same, or a similar geographic region, pay their senior leaders. (2) the board compensation committee documents who was involved, confirms the respective independence of each member thereof, the process used to conduct the review, as well as the disposition of the full board's decision to approve the executive director's compensation. (3) Said documentation demonstrates that the board took the comparable data into consideration when it approved the compensation.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Upon request

Filing and Contact Details

Filer

Filer Name
Venture Cafe Mia Inc
EIN
81-4117606
Phone
3059816875
Address
1951 NW 7th Ave, Miami, FL 33136

Signing Officer

Name
Leigh-Ann Buchanan
Title
Executive Director
Signed
2018-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leigh-Ann Buchanan
Formed
2016
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Alw Accounting & Consulting LLC
Address
325 Almeria Avenue Suite A, Coral Gables, FL 33134
Preparer
Amanda L Waters
Phone
3052989879
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2: New Services

Thursday Gathering - The Organization hosts South Florida's largest weekly gathering of innovators, every Thursday from 4:00 pm - 9:00 PM. The event is free and open to the public. Office Hours - The Organization curates free one-on-one advisory or coaching sessions for aspring and existing entrepreneurs to receive advice from experienced business professionals, entrepreneurs and investors in business growth areas such as financial, commercialization, investment readiness, marketing and user acquisition. Captains of Innovation Program - The Organization connects corporations and startups to facilitate partnerships and accelerate the innovation process.

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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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IRS990/RevenueAmt019567
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Thursday Gathering - The Organization hosts South Florida's largest weekly gathering of innovators, every Thursday from 4:00 pm - 9:00 PM. The event is free and open to the public. Office Hours - The Organization curates free one-on-one advisory or coaching sessions for aspring and existing entrepreneurs to receive advice from experienced business professionals, entrepreneurs and investors in business growth areas such as financial, commercialization, investment readiness, marketing and user acquisition. Captains of Innovation Program - The Organization connects corporations and startups to facilitate partnerships and accelerate the innovation process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Draft of form 990 was distributed via email with a comment period available before filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Quarterly conflict of interest policy review and disclosure solicitiations are circulated to the above referenced parties for completion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3(1) The board convenes an independent compensation subcommittee, not including the person receiving the compensation to conduct a comparability review comprised of an evaluation of comparable salary and benefits data, including but not limited to such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, and of a similar budget size, that are located in the same, or a similar geographic region, pay their senior leaders. (2) the board compensation committee documents who was involved, confirms the respective independence of each member thereof, the process used to conduct the review, as well as the disposition of the full board's decision to approve the executive director's compensation. (3) Said documentation demonstrates that the board took the comparable data into consideration when it approved the compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4(1)The board convenes an independent compensation subcommittee, not including the person receiving the compensation to conduct a comparability review comprised of an evaluation of comparable salary and benefits data, including but not limited to such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, and of a similar budget size, that are located in the same, or a similar geographic region, pay their senior leaders. (2) the board compensation committee documents who was involved, confirms the respective independence of each member thereof, the process used to conduct the review, as well as the disposition of the full board's decision to approve the executive director's compensation. (3) Said documentation demonstrates that the board took the comparable data into consideration when it approved the compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2: New Services
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt042231
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01946 SW 20th Street
IRS990/USAddress/CityNm0Miami
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033145
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WebsiteAddressTxt0https://venturecafemiami.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Leigh-Ann Buchanan
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VENTURE CAFE MIA INC
ReturnHeader/Filer/BusinessNameControlTxt0VENT
ReturnHeader/Filer/EIN0814117606
ReturnHeader/Filer/PhoneNum03059816875
ReturnHeader/Filer/USAddress/AddressLine1Txt01951 NW 7th Ave
ReturnHeader/Filer/USAddress/CityNm0Miami
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033136
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0812357508
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALW ACCOUNTING & CONSULTING LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0325 Almeria Avenue Suite A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Coral Gables
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033134
ReturnHeader/PreparerPersonGrp/PhoneNum03052989879
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Amanda L Waters
ReturnHeader/ReturnTs02018-08-14T14:44:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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