Civic Intelligence

Kore Venture Inc

EIN 85-0728308 • 501(c)3 • Salem, NH

Profile

Kore Venture is a community dedicated to empowering and equipping young inheritors to navigate the complexities of wealth, provide leadership for families, contribute to society, and gain the clarity, confidence, and conviction to pursue their unique path in life.

38 Ticklefancy LaneSalem, NH 03079

www.koreventure.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.90x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

0.13x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

89th percentile

49%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

13th percentile

-19%

Faster asset growth than 13% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

42nd percentile

2.7%

Faster revenue growth than 42% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Assets

Up

$86,555

Up $63,721 (+279%) from 2023

Liabilities

Down

$77,971

Down $233,492 (-75%) from 2023

Net Assets

Up

$8,584

Up $297,213 (+103%) from 2023

Revenue

Up

$603,575

Up $285,700 (+90%) from 2023

Expenses

Down

$306,362

Down $118,613 (-28%) from 2023

Net Income

Up

$297,213

Up $404,313 (+378%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2020: $876,519Liabilities 2020: $986,821Net Assets 2020: -$110,3022020Assets 2021: $866,564Liabilities 2021: $1,001,419Net Assets 2021: -$134,8552021Assets 2022: $131,408Liabilities 2022: $312,937Net Assets 2022: -$181,5292022Assets 2023: $22,834Liabilities 2023: $311,463Net Assets 2023: -$288,6292023Assets 2024: $86,555Liabilities 2024: $77,971Net Assets 2024: $8,5842024

Highlighted filing

2024

Assets$86,555
Liabilities$77,971
Net Assets$8,584

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2020: $84,725Expenses 2020: $195,027Net Income 2020: -$110,3022020Revenue 2021: $797,801Expenses 2021: $781,104Net Income 2021: $16,6972021Revenue 2022: $572,013Expenses 2022: $569,801Net Income 2022: $2,2122022Revenue 2023: $317,875Expenses 2023: $424,975Net Income 2023: -$107,1002023Revenue 2024: $603,575Expenses 2024: $306,362Net Income 2024: $297,2132024

Highlighted filing

2024

Revenue$603,575
Expenses$306,362
Net Income$297,213

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 1, 2025
Return Version
2024v5.1
Gross Receipts
$603,575
Mission and Program Overview

Mission

Kore Venture is a community dedicated to empowering and equipping young inheritors to navigate the complexities of wealth, provide leadership for families, contribute to society, and gain the clarity, confidence, and conviction to pursue their unique path in life.

To equip young leaders to contribute to society and pursue their unique path in life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$13,844$79,004▲ $65,160
Loans From Officers Directors$302,250$62,250▼ $240,000
Prepaid Expenses and Deferred Charges$8,990$7,551▼ $1,439
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$22,834$86,555▲ $63,721
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$7,338$10,521▲ $3,183
Deferred Revenue$1,875$5,200▲ $3,325
Other Liabilities$0$0→ $0
Total Liabilities$311,463$77,971▼ $233,492
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-288,629$8,584▲ $297,213
Total Net Assets Fund Balance$-288,629$8,584▲ $297,213
Total Liabilities and Net Assets / Fund Balance$22,834$86,555▲ $63,721
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mark MacDonaldTreasurer / CEOFT$95,000$95,000

Board Members and Trustees

NameTitle
David BeattyChairman
Elinor BeattySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$595,000
Program Service Revenue
$8,575
Investment Income
$0
Other Revenue
$0
All Other Contributions
$595,000
Change in Net Assets
$297,213
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$213,487
Other Expenses$92,875
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$52,604$42,396-$95,000
Other Salaries and Wages$51,147$40,852-$91,999
Fees for Services Other$42,803$14,647$0$57,450
Payroll Taxes$8,553$6,894-$15,447
Office Expenses$1,514$11,267-$12,781
Other Employee Benefits$6,114$4,927-$11,041
Fees for Services Accounting$6,059$4,283-$10,342
Travel$4,038--$4,038
Other Expenses$3,908--$3,908
Advertising-$3,545-$3,545
All Other Expenses$180$336$0$516
Information Technology$103$72-$175
Fees for Services Legal$70$50-$120
Total Functional Expenses$177,093$129,269$0$306,362
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
Loans from Officers, Directors, Trustees, and Key Employees$302,250$62,250▼ $240,000
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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, Line 15B

The organization does not compensate any other officers or key employees. Therefore, this line was answered no in accordance with the instructions.

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

David Beatty, Chairman and Elinor Beatty, Secretary - Family relationship

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

The organization has no committees with authority to act on behalf of the governing body. Therefore, this line was answered no in accordance with the instructions.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

The organization requires all officers and board members to annually complete and sign a conflict of interest questionnaire. The Chairman is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. The Treasurer reviews the Chairman's signed statement. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Compensation for the Treasurer/CEO is determined based on comparability data for similar organizations, which is then presented to the independent members of the board of directors for discussion and approval. This process and discussion is documented.

Form 990, Part VI, Line 19 Required documents available to the public

The governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Kore Venture Inc
EIN
85-0728308
Phone
6037315338
Address
38 Ticklefancy Lane, Salem, NH 03079

Signing Officer

Name
Mark MacDonald
Title
CEO
Phone
6037315338
Signed
2025-07-01
Discuss with paid preparer
Yes

Organization Details

Formed
2020
Legal Domicile
De
Voting Board Members
3
Independent Board Members
2
Employees
2
Volunteers
10

Preparer

Firm
CRI Capin Crouse Advisors LLC
Address
345 Massachusetts Ave Suite 300, Indianapolis, IN 46204
Preparer
Sara Tibbott
Phone
5055022746
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 2A

Kore Venture does not file any W-2s as all employees are outsourced from a professional employment organization (PEO). The number reported on this line represents the number of employees the filing organizations leased from the PEO. Kore Venture reimburses the professional employment organization for the employees' compensation and the reimbursements are reported on 990 Part VII, Section A and 990 Part IX, Lines 5 - 10.

Form 990, Part IX, Line 11G Other Fees

Contract Labor - Total Expense: 57450, Program Service Expense: 42803, Management and General Expenses: 14647, Fundraising Expenses: ;

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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0David Beatty
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Royalty Payable
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Chairman
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kore Venture does not file any W-2s as all employees are outsourced from a professional employment organization (PEO). The number reported on this line represents the number of employees the filing organizations leased from the PEO. Kore Venture reimburses the professional employment organization for the employees' compensation and the reimbursements are reported on 990 Part VII, Section A and 990 Part IX, Lines 5 - 10.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization does not compensate any other officers or key employees. Therefore, this line was answered no in accordance with the instructions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2David Beatty, Chairman and Elinor Beatty, Secretary - Family relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization has no committees with authority to act on behalf of the governing body. Therefore, this line was answered no in accordance with the instructions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization requires all officers and board members to annually complete and sign a conflict of interest questionnaire. The Chairman is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. The Treasurer reviews the Chairman's signed statement. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Compensation for the Treasurer/CEO is determined based on comparability data for similar organizations, which is then presented to the independent members of the board of directors for discussion and approval. This process and discussion is documented.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The governing documents, conflict of interest policy and financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Contract Labor - Total Expense: 57450, Program Service Expense: 42803, Management and General Expenses: 14647, Fundraising Expenses: ;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part V, Line 2a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 2 Family/business relationships amongst interested persons
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 15a Process to establish compensation of top management official
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 11g Other Fees
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