Pittsburgh Venture Capital Association
- Assets
- $80.0k
- Revenue
- $205.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Bridgeville, PA
- Founding
- 03/2002
- Data as of
- 07/2022
- EIN
- 25-1566467
Organization Overview
Pittsburgh Venture Capital Association is located in Bridgeville, PA. The organization was established in 2002. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh Venture Capital Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 07/2022, Pittsburgh Venture Capital Association generated $205.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $255.5k during the year ending 07/2022. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PITTSBURGH VENTURE CAPITAL ASSOCIATION WAS FOUNDED IN 1982 TO CATALYZE VENTURE INVESTMENT AND ENTREPRENEURIALISM IN WESTERN PENNSYLVANIA. SINCE THEN IT HAS BECOME THE LEADING VOICE OF PRIVATE EQUITY INVESTORS IN THE REGION.THROUGH A WIDE RANGE OF PROGRAMS, THE PVCA FACILITATES QUALITY DEAL FLOW, ENCOURAGES INVESTOR COLLABORATION, AND FOSTERS IMPORTANT RELATIONSHIPS WITH KEY SERVICE PROVIDERS. EVERY MAJOR REGIONAL VENTURE CAPITAL FIRM IS REPRESENTED IN OUR MEMBERSHIP, AS WELL AS NUMEROUS FIRST-TIER SERVICE PROVIDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PVCA WORKS AS AN ADVOCATE FOR THE VENTURE CAPITAL INDUSTRY AND FACILITATES THE FLOW OF CAPITAL INTO PROMISING VENTURES THROUGH NETWORKING LUNCHEONS, RECEPTIONS, PROMINENT EVENTS THAT ENCOURAGE DISCUSSIONS ON TOPICS PERTAINING TO INVESTMENT TRENDS, FINANCING, TAX ISSUES, IPOS AND PUBLIC POLICY ISSUES. THE FOCUS IS WESTERN PENNSYLVANIA BUT INFLUENCE HAS EXPANDED NATIONALLY THROUGH EVENTS SUCH AS THE HIGH-PROFILE 3 RIVERS VENTURE FAIR, WHICH IS HELD EVERY 18 MONTHS AND ATTRACTS MORE THAN 700 ATTENDEES, INCLUDING SOME OF THE NATION'S MOST PROMINENT INVESTORS AND FIRMS. THE 3 RIVERS VENTURE FAIR OFFERS AN OPPORTUNITY FOR ENTREPRENEURS TO SHOWCASE THEIR COMPANIES DIRECTLY TO VENTURE CAPITALISTS FOR FUNDING. THE ANNUAL AWARDS DINNER IS HELD TO RECOGNIZE BUSINESS LEADERS FOR THEIR OUTSTANDING CONTRIBUTIONS TO THE REGION'S ECONOMIC AND ENTREPRENEURIAL VITALITY IN WESTERN PENNSYLVANIA. OTHER MEETINGS ARE HELD EVERY OTHER MONTH.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Szejko President | OfficerTrustee | 40 | $137,921 |
Mike Stubler Chairman | OfficerTrustee | 2 | $0 |
Michael Matesic Treasurer | OfficerTrustee | 2 | $0 |
Joe Slezak Secretary | OfficerTrustee | 2 | $0 |
Jeremy Garvey Chairman Emeritus | OfficerTrustee | 2 | $0 |
David Berk Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,775 |
| Fundraising events | $0 |
| 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 | $20,775 |
| Total Program Service Revenue | $185,013 |
| Investment income | $31 |
| 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 | $205,819 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $145,183 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,141 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,826 |
| Advertising and promotion | $500 |
| Office expenses | $4,051 |
| Information technology | $3,609 |
| Royalties | $0 |
| Occupancy | $12,467 |
| Travel | $851 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,562 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,249 |
| All other expenses | $0 |
| Total functional expenses | $255,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,746 |
| Savings and temporary cash investments | $51,241 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $79,987 |
| Accounts payable and accrued expenses | $15,686 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,686 |
| Net assets without donor restrictions | $0 |
| 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 | $64,301 |
| Total liabilities and net assets/fund balances | $79,987 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Pittsburgh Venture Capital Association has recieved totaling $60,900.
| Awarding Organization | Amount |
|---|---|
University Of Pittsburgh Pittsburgh, PA PURPOSE: SPONSORSHIP | $20,450 |
University Of Pittsburgh Pittsburgh, PA PURPOSE: SPONSORSHIP | $20,450 |
Carnegie Mellon University Pittsburgh, PA PURPOSE: PROGRAM SERVICE | $10,000 |
Carnegie Mellon University Pittsburgh, PA PURPOSE: PROGRAM SERVICE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Center For Civic Innovation Inc New York, NY | $21,208,939 | $12,582,443 |
Community Action Prgm Corp Of Washington-Morgan Counties Ohio Marietta, OH | $5,593,568 | $15,680,729 |
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Trenton Business Assistance Corporation Mercerville, NJ | $91,160,866 | $14,574,637 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Dayton-Miami Valley Entrepreneurs Center Dayton, OH | $1,732,141 | $5,542,266 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |
Prince Georges Financial Services Corporation Largo, MD | $6,191,541 | $2,663,412 |