Venture Industrial Services Inc

Analysis

Venture Industrial Services Inc is a registered charity in United States, based in Summerville, SC. It received its IRS tax-exemption ruling in September 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Venture Industrial Services Inc reported income of $208k and spending of $245k, spending 118% of what it took in. Across the 3 years on record, from June 2019 to June 2023, income fell from $239k to $208k (-13%), an average of -6.7% a year. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Venture Industrial Services Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 60th percentile within SC. Charities of a similar size with the same main cause include Jane and Annette M Herr Memorial Library ($208k), The Brendan Corporation ($208k) and Bainbridge Community Ministry Inc ($208k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $218k. At year end it held assets of $50 against liabilities of $185k, net assets of -$185k. It reported 94 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.