Kore Venture Inc

Analysis

Kore Venture Inc is a registered charity in United States, based in Salem, NH. It received its IRS tax-exemption ruling in September 2020, 6 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kore Venture Inc reported income of $318k and spending of $425k, spending 134% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $85k to $318k (+275%), an average of +55% a year. The sharpest change came in the year to December 2021, when income rose by 842%. Over the whole period it spent 111% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kore Venture Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within NH. Charities of a similar size with the same main cause include 100 Black Men of Los Angeles Inc ($318k), Project Success Coalition ($318k) and Inspired Foundation Inc ($318k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 8.6% of the total. Compensation of current officers, directors and key employees was $180k (42% of expenses). Other salaries and wages came to $48k. At year end it held assets of $23k against liabilities of $311k, net assets of -$289k. It reported 3 employees.