Civic Intelligence

Venn Foundation

990 • Fiscal year 2017 • EIN 81-4476503

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 26, 2018

Organization ProfileWWW.VENNFOUNDATION.ORG
1127 Barclay StreetSaint Paul, MN 55106

(612) 568-3204

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.02x

Higher debt load relative to assets than 42% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

39th percentile

0.01x

Higher debt load relative to revenue than 39% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

97th percentile

77%

Higher net margin than 97% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

63rd percentile

$45,833

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M 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

Balance Sheet
Liabilities / Assets42nd percentile

Assets

$459,544

No earlier filing loaded for comparison.

Net Assets

$452,372

No earlier filing loaded for comparison.

Liabilities

$7,172

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin97th percentile

Revenue

$593,637

No earlier filing loaded for comparison.

Expenses

$137,363

No earlier filing loaded for comparison.

Net Income

$456,274

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30M$20M$10M$0Assets 2017: $459,544Liabilities 2017: $7,172Net Assets 2017: $452,3722017Assets 2018: $1,092,502Liabilities 2018: $29,569Net Assets 2018: $1,062,9332018Assets 2019: $1,934,690Liabilities 2019: $34,847Net Assets 2019: $1,899,8432019Assets 2020: $4,402,895Liabilities 2020: $263,859Net Assets 2020: $4,139,0362020Assets 2021: $9,147,471Liabilities 2021: $1,264,651Net Assets 2021: $7,882,8202021Assets 2022: $15,660,826Liabilities 2022: $1,275,329Net Assets 2022: $14,385,4972022Assets 2023: $14,009,571Liabilities 2023: $1,279,927Net Assets 2023: $12,729,6442023Assets 2024: $19,207,391Liabilities 2024: $1,488,547Net Assets 2024: $17,718,8442024Assets 2025: $29,413,154Liabilities 2025: $1,546,345Net Assets 2025: $27,866,8092025

Highlighted filing

2017

Assets$459,544
Liabilities$7,172
Net Assets$452,372
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $593,637Expenses 2017: $137,363Net Income 2017: $456,2742017Revenue 2018: $875,251Expenses 2018: $264,690Net Income 2018: $610,5612018Revenue 2019: $1,078,950Expenses 2019: $242,040Net Income 2019: $836,9102019Revenue 2020: $2,886,074Expenses 2020: $646,881Net Income 2020: $2,239,1932020Revenue 2021: $5,256,228Expenses 2021: $1,512,444Net Income 2021: $3,743,7842021Revenue 2022: $8,859,308Expenses 2022: $2,091,631Net Income 2022: $6,767,6772022Revenue 2023: $4,468,850Expenses 2023: $6,042,356Net Income 2023: -$1,573,5062023Revenue 2024: $7,088,292Expenses 2024: $1,848,427Net Income 2024: $5,239,8652024Revenue 2025: $11,842,464Expenses 2025: $1,685,264Net Income 2025: $10,157,2002025

Highlighted filing

2017

Revenue$593,637
Expenses$137,363
Net Income$456,274
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 26, 2018
Return Version
2017v2.2
Gross Receipts
$593,637
Mission and Program Overview

Mission

To unleash the full power of program-related investments to achieve charitable impact.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$179$457,130▲ $456,951
Prepaid Expenses and Deferred Charges-$2,414-
Total Assets$179$459,544▲ $459,365
Liabilities
Accounts Payable and Accrued Expenses$4,081$7,172▲ $3,091
Total Liabilities$4,081$7,172▲ $3,091
Net Assets / Fund Balance
Unrestricted Net Assets$-3,902$452,372▲ $456,274
Permanently Rstr Net Assets-$0-
Temporarily Rstr Net Assets-$0-
Total Net Assets Fund Balance$-3,902$452,372▲ $456,274
Total Liabilities and Net Assets / Fund Balance$179$459,544▲ $459,365
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeff OchsBoard President, Secretary, CEOFT$45,833$45,833

Board Members and Trustees

NameTitle
Robert ScarlettBoard Chair
Jeanne VoigtBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$593,598
Program Service Revenue
$0
Investment Income
$39
Other Revenue
$0
All Other Contributions
$593,598
Change in Net Assets
$456,274

Audited Revenue Reconciliation

Revenue per Audited Statements
$593,637
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$593,637
Total Revenue per Form 990
$593,637
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,947
Salaries, Compensation, and Employee Benefits$54,416
Total Fundraising Expense$10,911
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$13,133$54,384-$67,517
Current Officers, Directors, Trustees, and Key Employees$10,000$30,000$10,000$50,000
Fees for Services Accounting-$8,957-$8,957
Payroll Taxes$883$2,650$883$4,416
Fees for Service Investment Mgmnt Fees$2,736--$2,736
Occupancy$300$300-$600
Advertising-$287-$287
Office Expenses-$260-$260
Insurance-$108-$108
Other Expenses$1,124-$28$28
Total Functional Expenses$29,506$96,946$10,911$137,363

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$137,363
Total Expenses per Audited Statements$137,363
Total Expenses per Form 990$137,363
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
Yes
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 8B

“The are no committees authorized to act on behalf of the governing body.”

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

“The return is prepared by the organization's independent accountant based on data provided by management. Once a draft return is available, it is provided to the governing body for review prior to filing.”

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

“The conflict of interest policy covers any director, principal officer, or member of a committee with governing board delegated powers. If a conflict of interest were to arise, the interested party is not present during the discussion and vote on the transaction or arrangement involving the possible conflict of interest. If this were to occur, it will be captured in the meeting minutes.”

Form 990, Part VI, Section B, Line 15A

“Using the minnesota nonprofit salary and benefits survey that took place in 2014, the executive officer's compensation is determined by the board of directors. The deliberation and decision is documented in the board of directors meeting minutes. The last year this took place was in 2017 for jeff ochs, president and ceo.”

Form 990, Part VI, Section C, Line 19

“The organization does not make the governing documents, conflict of interest policy, and financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
Venn Foundation
EIN
81-4476503
Phone
6125683204
Address
1127 BARCLAY STREET, SAINT PAUL, MN 55106

Signing Officer

Name
Jeff Ochs
Title
President & CEO
Phone
6125683204
Signed
2018-03-26

Organization Details

Principal Officer
Jeff Ochs
Formed
2016
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
2
Employees
1
Volunteers
2

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 SOUTH SIXTH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Karen Gries
Phone
6123764500
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“Venn foundation initiated its donor-advised fund offering.”

Financial Statement Notes

PART X, LINE 2:

“Venn foundation is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code and similar state income tax laws. The foundation is a public charity and contributions to the foundation qualifies as a charitable tax deduction by the contributor. The foundation's tax returns are subject to review and examination by federal, state and local authorities.”

Raw XML Appendix331 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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IRS990/Desc0VENN FOUNDATION (VENN) IS A NONPROFIT PUBLIC CHARITY ON A MISSION TO UNLEASH THE FULL POWER OFPROGRAM-RELATED INVESTMENTS (PRIS) TO ADVANCE CHARITABLE IMPACT. BY OPENING A SPECIAL DONOR-ADVISED FUND CALLED A VENN ACCOUNT, ANY INDIVIDUAL OR ORGANIZATION CAN RECOMMEND THAT THEIR CHARITABLE DOLLARS BE USED BY VENN TO MAKE PRIS. VENN CAN SYNDICATE ANY ONE PRI AMONG ANY NUMBER OF VENN ACCOUNTS. FINANCIAL RETURNS FROM THESE PRIS GO BACK TO PARTICIPATING ACCOUNTS PRO RATA FOR THE DONORS TO RECOMMEND REDEPLOYMENT INTO NEW PRIS OR GRANTS. OUR VISION IS TO CREATE A NEW CATEGORY OF FLEXIBLE, BELOW-MARKET-RATE CAPITAL THAT CAN BE DIRECTED CREATIVELY TO PROJECTS AND ORGANIZATIONS ACROSS ALL SECTORS THAT ARE HELPING ADVANCE CHARITABLE GOALS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VENN FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE INCOME TAX LAWS. THE FOUNDATION IS A PUBLIC CHARITY AND CONTRIBUTIONS TO THE FOUNDATION QUALIFIES AS A CHARITABLE TAX DEDUCTION BY THE CONTRIBUTOR. THE FOUNDATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VENN FOUNDATION INITIATED ITS DONOR-ADVISED FUND OFFERING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ARE NO COMMITTEES AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURN IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANT BASED ON DATA PROVIDED BY MANAGEMENT. ONCE A DRAFT RETURN IS AVAILABLE, IT IS PROVIDED TO THE GOVERNING BODY FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY COVERS ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS. IF A CONFLICT OF INTEREST WERE TO ARISE, THE INTERESTED PARTY IS NOT PRESENT DURING THE DISCUSSION AND VOTE ON THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. IF THIS WERE TO OCCUR, IT WILL BE CAPTURED IN THE MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4USING THE MINNESOTA NONPROFIT SALARY AND BENEFITS SURVEY THAT TOOK PLACE IN 2014, THE EXECUTIVE OFFICER'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. THE DELIBERATION AND DECISION IS DOCUMENTED IN THE BOARD OF DIRECTORS MEETING MINUTES. THE LAST YEAR THIS TOOK PLACE WAS IN 2017 FOR JEFF OCHS, PRESIDENT AND CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DOES NOT MAKE THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/FilingSecurityInformation/IPTm008:39:35
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ReturnHeader/ReturnTs02018-03-27T09:29:15-05:00
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ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$459,544
Liabilities
$7,172
Net assets
$452,372
Revenue
$593,637
Expenses
$137,363
Net income
$456,274
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$29.4$1.55$27.9$11.8$1.69$10.2
2024Detailed filing. Detailed filing data is available for this year.$19.2$1.49$17.7$7.09$1.85$5.24
2023Detailed filing. Detailed filing data is available for this year.$14.0$1.28$12.7$4.47$6.04$1.57
2022Detailed filing. Detailed filing data is available for this year.$15.7$1.28$14.4$8.86$2.09$6.77
2021Detailed filing. Detailed filing data is available for this year.$9.15$1.26$7.88$5.26$1.51$3.74
2020Detailed filing. Detailed filing data is available for this year.$4.40$0.26$4.14$2.89$0.65$2.24
2019Detailed filing. Detailed filing data is available for this year.$1.93$0.03$1.90$1.08$0.24$0.84
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.03$1.06$0.88$0.26$0.61
2017Detailed filing. Detailed filing data is available for this year.$0.46$0.01$0.45$0.59$0.14$0.46