Circle Venture
- Assets
- $2.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 28
- Location
- Philadelphia, PA
- Founding
- 03/2000
- Data as of
- 12/2022
- EIN
- 23-2989934
Organization Overview
Circle Venture is located in Philadelphia, PA. The organization was established in 2000. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2022, Circle Venture employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Circle Venture is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Circle Venture generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Circle Venture has awarded 11 individual grants totaling $192,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PLEASE SEE ATTACHED
Describe the Organization's Program Activity:
Part 3 - Line 4a
A. CIRCLE THRIFT - OPERATE A THRIFT STORE THAT SELLS USED CLOTHING AND HOUSEHOLD GOODS THAT WERE DONATED TO THE ORGANIZATION. PROVIDED CLOTHING AND HOUSEHOLD GOODS TO HUNDREDS OF FAMILIES IN THE COMMUNITY OF FISHTOWN/EAST KENSINGTON IN PHILADELPHIA AT BELOW MARKET VALUE. PROVIDED JOB RETAIL TRAINING TO SEVERAL UNDEREMPLOYED ADULTS. PROVIDES GRANTS TO LOCAL ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Grace Highest Compensated Employee | 40 | $55,000 | |
Megan Rosenbach Treasurer | Officer | 5 | $0 |
Lauren Smith Undersecretary | Officer | 5 | $0 |
Liz Martin Chair | Officer | 5 | $0 |
Alison Wear Vice-Chair | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,449 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,449 |
| Total Program Service Revenue | $1,094,133 |
| Investment income | $416 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,104,998 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $256,653 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $459,456 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $68,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,688 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,936 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,890 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,319 |
| Insurance | $26,059 |
| All other expenses | $0 |
| Total functional expenses | $1,030,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $807,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,454,471 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,262,032 |
| Accounts payable and accrued expenses | $4,258 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,349,170 |
| Other liabilities | $0 |
| Total liabilities | $1,353,428 |
| Net assets without donor restrictions | $908,604 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,262,032 |
Grants Awarded
Over the last fiscal year, Circle Venture has awarded $192,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
SIMPLEWAY PURPOSE: local donations | $10,000 |
KENSINGTON COMMUNITY FOOD CO-OP PURPOSE: local donations | $10,000 |
WOMEN AGAINST ABUSE PURPOSE: local donations | $5,000 |
ELOHEH INDIGENOUS CENTER FOR EARTH PURPOSE: local donations | $10,000 |
LUTHERAN SETTLEMENT HOUSE PURPOSE: local donations | $6,000 |
BKIND FAMILY SERVICES PURPOSE: local donations | $5,000 |