Venture Development 2002 Inc

Analysis

Venture Development 2002 Inc is a registered charity in United States, based in Nanuet, NY. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Venture Development 2002 Inc reported income of $155k and spending of $206k, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $151k to $155k (+2.2%), an average of +0.5% a year. Over the whole period it spent 135% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Venture Development 2002 Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Seicca Housing 1 Inc ($154k), Commonweal Conservancy Inc ($155k) and Strong Foundations Inc ($154k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $25k. At year end it held assets of $1.4m against liabilities of $191k, net assets of $1.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.