Venture for America Inc

Analysis

Venture for America Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in April 2011, 15 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 for America Inc reported income of $5.0m and spending of $6.6m, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.0m to $5.0m (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Venture for America Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include Tulsa Economic Development Corporation ($5.0m), NHS Neighborhood Redevelopment Corporation ($5.0m) and Tri-County Workforce Investment Board Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $272k (4.1% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $2.5m against liabilities of $2.0m, net assets of $560k. It reported 57 employees.