Access Ventures Inc
- Assets
- $43.8m
- Revenue
- $16.4m
- Investments
- $38.7m
- Employees
- 10
- Location
- Louisville, KY
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-3061287
Organization Overview
Access Ventures Inc is located in Louisville, KY. The organization was established in 2014. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Access Ventures Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Access Ventures Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Access Ventures Inc has awarded 44 individual grants totaling $2,926,750. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING INSECURITY: A MAJOR CONCERN FOR COMMUNITIES ACROSS THE COUNTRY AND LEADS TO IMMENSE FAMILY INSTABILITY. VAST NUMBERS OF VACANT HOMES AND BUSINESSES DETERIORATE THE FABRIC OF A COMMUNITY BY INCREASED CRIME RATES, HIGHER COSTS TO THE TENANTS GIVEN NO OTHER OPPORTUNITY FOR RESIDENCE, AND MAKING IT DIFFICULT FOR BUSINESSES TO BE SUCCESSFUL. FALSE NARRATIVES RELATED TO THE HOUSING INSECURE ABOUND THAT LIMIT MANY ORGANIZATIONS ABILITY TO PROVIDE SERVICES. THEREFORE, WE WORK TO IDENTIFY AND SUPPORT EMERGING INTERVENTIONS THAT HELP MORE COMMUNITIES AND PEOPLE THRIVE. FROM REDEVELOPMENT OF VACANT PROPERTIES TO TECHNOLOGY SOLUTIONS THAT INCREASE FINANCIAL MOBILITY, WE WORK TO SEE MORE PEOPLE IN MORE PLACES HAVE THE RESOURCES TO NOT ONLY SURVIVE, BUT TRULY THRIVE. WE ALSO WORK TO CHANGE THE NARRATIVE OF HOMELESSNESS THAT HOPEFULLY LEADS TO EMPATHY AND ACTION.
ACCESS TO THE ECONOMY: TRADITIONAL BANKING AND FINANCIAL SERVICES EXCLUDE MILLIONS OF INDIVIDUALS AND SMALL BUSINESSES. INCLUSION IN THESE FINANCIAL SYSTEMS LEADS TO GREATER INDIVIDUAL, FAMILY, AND COMMUNITY STABILITY. THEREFORE, WE INVEST IN COMPANIES AND PROGRAMS THAT IMPROVE ACCESS TO EQUITABLE CAPITAL, FINANCIAL SERVICES, AND THE DISTRIBUTIONS OF FUNDS BEYOND TRADITIONAL MEANS FOR BOTH PERSONAL AND BUSINESS FINANCING TO COUNTER THE EFFECTS OF PAYDAY LENDING AND IMPROVE OPPORTUNITIES FOR THE UNBANKED AND UNDERBANKED. ENTREPRENEURSHIP IS KEY TO AMERICAN DYNAMISM AND COMMUNITY FLOURISHING AND YET, ACCESS TO CAPITAL REMAINS ELUSIVE FOR MANY. THEREFORE, WE WORK TO CREATE ALTERNATIVE AND GEOGRAPHICALLY SPECIFIC STRUCTURES TO BUILD REGIONAL ECOSYSTEMS.
CREATIVE ECONOMY: WE BELIEVE THAT PEOPLE HAVE THE RIGHT TO REALIZE THEIR FULL POTENTIAL. AN ECONOMY THAT ENCOURAGES CREATIVITY ACCELERATES GROWTH AND LONG-TERM COMMUNITY VITALITY BY ENCOURAGING PEOPLE TO BE THEIR AUTHENTIC SELVES. THE CREATIVE ECONOMY SURFACES AND REDEEMS THE BELIEFS WE IDENTIFY WITH, AND THAT WE VALUE, AND EXPOSES THAT WHICH IS POSSIBLE. WE WORK INTENTIONALLY TO CREATE PROGRAMS THAT SUPPORT CREATORS AND THEIR CREATIVE DEVELOPMENT AS THEY MATURE IN THEIR CRAFT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Abood Director Of Investme | 40 | $444,256 | |
Bryce Butler President | 40 | $392,604 | |
Moses Icyishaka Staff | 40 | $235,811 | |
Patrick Henshaw Managing Director Of | 40 | $197,352 | |
Benjamin Terry Creative Director | 40 | $166,913 | |
Timothy Harris Director Of Marketin | 40 | $120,103 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kertis Kreative | 12/30/19 | $356,750 |
Brushfire | 12/30/19 | $130,768 |
Common Pool Llc | 12/30/19 | $51,929 |
Pyxl Inc | 12/30/19 | $69,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,255,480 |
| Interest on Savings | $0 |
| Dividends & Interest | $272,072 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,845,246 |
| Capital Gain Net Income | $9,548,314 |
| Net ST Capital Gain | $105,307 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,013,371 |
| Total Revenue | $16,386,169 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $392,604 |
| Other employee salaries and wages | $1,484,940 |
| Pension plans, employee benefits | $0 |
| Interest | $969 |
| Taxes | $263,770 |
| Depreciation | $38,816 |
| Occupancy | $21,694 |
| Travel, conferences, and meetings | $49,472 |
| Printing and publications | $3,245 |
| Other expenses | $1,559,990 |
| Total operating and administrative expenses | $3,815,500 |
| Contributions, gifts, grants paid | $616,000 |
| Total expenses and disbursements | $4,431,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,678 |
| Savings and temporary cash investments | $1,338,858 |
| Net Accounts receivable | $82,557 |
| Net Pledges Receivable | $0 |
| Grants receivable | $76,305 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,047 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,329,978 |
| Net Land, buildings, and equipment | $6,045 |
| Other assets | $3,210,454 |
| Total assets | $43,826,766 |
| Accounts payable and accrued expenses | $232,478 |
| Grants payable | $45,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $277,478 |
Grants Awarded
Over the last fiscal year, Access Ventures Inc has awarded $571,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
MRELIEF PURPOSE: GENERAL FUNDS | $350,000 |
Louisville, KY PURPOSE: GENERAL FUNDS | $50,000 |
Louisville, KY PURPOSE: GENERAL FUNDS | $35,000 |
Louisville, KY PURPOSE: GENERAL FUNDS | $25,000 |
Louisville, KY PURPOSE: GENERAL FUNDS | $25,000 |
Louisville, KY PURPOSE: GENERAL FUNDS | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Access Ventures Inc has recieved totaling $170,000.
| Awarding Organization | Amount |
|---|---|
Paul Ogle Foundation Inc Jeffersonville, IN PURPOSE: ELEVATE VENTURES PARTNERSHIP | $150,000 |
Elevate Ventures Inc Indianapolis, IN PURPOSE: Regional sponsorship | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Neighborhood Progress Inc Cleveland, OH | $14,988,219 | $7,783,828 |
Access Ventures Inc Louisville, KY | $43,826,766 | $16,386,169 |
Fund For Our Economic Future Of Northeast Ohio Cleveland, OH | $9,063,861 | $3,744,961 |
Act For Alexandria Alexandria, VA | $25,524,079 | $7,617,741 |
Mid-America Regional Council Community Services Corporation Kansas City, MO | $2,213,477 | $3,497,916 |
East Moline Public Library Foundation East Moline, IL | $757,119 | $745,684 |
Memphis Land Bank Inc Memphis, TN | $18,817,383 | $908,597 |
Generating Income For Tomorrow Kansas City, MO | $295,787 | $1,133,745 |
Kc Air Show Charities Inc Kansas City, MO | $68,342 | $938,134 |
Heart Of America Redistribution Solutions And Support Sedalia, MO | $435,050 | $1,090,030 |
Egbert M Freese Foundation Galion, OH | $9,775,286 | $868,185 |
West Central Development Corporation Perrysburg, OH | $4,806,920 | $1,182,846 |