Venture Carolina
- Assets
- $42.9k
- Revenue
- $305.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Newberry, SC
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-4531249
Organization Overview
Venture Carolina is located in Newberry, SC. The organization was established in 2014. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Venture Carolina employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venture Carolina 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 12/2021, Venture Carolina generated $305.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $265.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL PROGRAMS TO STIMULATE THE CREATION AND GROWTH OF HIGH IMPACT COMPANIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATIONAL PROGRAMS TO STIMULATE THE CREATION AND GROWTH OF HIGH IMPACT COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul R Sparks Chair | Officer | 0.5 | $0 |
Paul C Clark Treasurer | Officer | 0.5 | $0 |
Thomas Simpson Secretary | Officer | 0.5 | $0 |
Leon C Banks Jr Executive Director | Officer | 20 | $0 |
Walter Frye At-Large | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $236,728 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $236,728 |
| Total Program Service Revenue | $50,200 |
| Investment income | $0 |
| 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 | $305,655 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,209 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,576 |
| Fees for services: Accounting | $3,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $124,351 |
| Advertising and promotion | $14,461 |
| Office expenses | $9,589 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,996 |
| Travel | $15,614 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,264 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $50 |
| Total functional expenses | $265,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,938 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,938 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,388 |
| Total liabilities | $2,388 |
| 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 | $40,550 |
| Total liabilities and net assets/fund balances | $42,938 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Venture Carolina has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Furman University Greenville, SC PURPOSE: SPONSORSHIP | $25,000 |
Furman University Greenville, SC PURPOSE: SPONSORSHIP | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lowcountry Food Bank Inc Charleston, SC | $24,232,316 | $78,517,842 |
Self-Help Services Corp Durham, NC | $8,574,851 | $67,460,504 |
Reinvestment Partners Durham, NC | $12,338,640 | $8,350,193 |
Star C Corporation Marietta, GA | $534,124 | $5,554,127 |
Sandhills Community Action Program Inc Southern Pines, NC | $2,226,446 | $4,141,015 |
Urban Ministries Of Durham Inc Durham, NC | $4,630,944 | $4,348,989 |
United Association Of Journeymen & Apprentices Of The Plumbing & Pipe Augusta, GA | $19,176,183 | $4,332,479 |
Building Owners And Managers Association Of Georgia Inc Atlanta, GA | $6,158,868 | $2,015,601 |
United Association Of Journeymen & Apprentices Of The Plumbing & Pipe North Charleston, SC | $1,767,644 | $1,789,367 |
Downtown Durham Inc Durham, NC | $1,600,844 | $1,586,578 |
Downtown Greensboro Inc Greensboro, NC | $1,416,640 | $1,599,630 |
Community Guilds Inc Decatur, GA | $1,303,701 | $1,778,793 |