Venture North Funding and Development

Analysis

Venture North Funding and Development is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in July 1989, 37 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Venture North Funding and Development reported income of $988k and spending of $1.0m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $521k to $988k (+90%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Venture North Funding and Development sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MI. Charities of a similar size with the same main cause include Child Abuse Council of Muskegon County ($988k), Northern Pines of Minnesota Inc ($988k) and Along Side Ministries Inc ($988k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 38% of the total. Other salaries and wages came to $353k. At year end it held assets of $7.4m against liabilities of $3.6m, net assets of $3.8m.