Venture Inc

Analysis

Venture Inc is a registered charity in United States, based in Pontiac, MI. It received its IRS tax-exemption ruling in July 1992, 34 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 Inc reported income of $295k and spending of $775k, spending 263% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $654k to $295k (-55%), an average of -18% a year. The sharpest change came in the year to December 2021, when income dropped by 59%. Over the whole period it spent 145% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Venture Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 61st percentile within MI. Charities of a similar size with the same main cause include Nhhi-Bloomington Barrier Free Housing Corp ($295k), Notre Dame Living Center II Inc ($295k) and Peckham Housing Corporation II ($295k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% of the total. Other salaries and wages came to $67k. At year end it held assets of $2.4m against liabilities of $3.9m, net assets of -$1.5m. It reported 1 employees.

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.