Venture Academies

Analysis

Venture Academies is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Venture Academies reported income of $8.7m and spending of $8.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.1m to $8.7m (+43%), an average of +9.4% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Venture Academies sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Urban Pathways 6-12 Charter School ($8.7m), Sarasota School of Arts and Science Inc ($8.7m) and Congregation Bnos Yaakov Inc ($8.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $378k (4.3% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $5.5m against liabilities of $6.9m, net assets of -$1.4m. It reported 101 employees.