Ventana Fund
- Assets
- $19.7m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 02/2016
- Data as of
- 09/2022
- EIN
- 46-5367784
Organization Overview
Ventana Fund is located in Albuquerque, NM. The organization was established in 2016. 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. Ventana Fund 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 09/2022, Ventana Fund generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $878.5k during the year ending 09/2022. 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
VENTANA FUND PROVIDES EARLY STAGE FINANCING FOR AFFORDABLE HOUSING IN NEW MEXICO'S UNDERSERVED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VENTANA FUND PROVIDES FINANCING AND DEVELOPMENT SERVICES FOR LOW- INCOME PERSONS IN THE STATE OF NEW MEXICO WITH AN EMPHASIS ON HOUSING LOCATED IN ECONOMICALLY DISTRESSED COMMUNITIES AND HOUSING MARKET NICHES THAT ARE UNDERSERVED BY TRADITIONAL FINANCIAL INSTITUTIONS.
THROUGH ITS WHOLLY OWNED, SINGLE MEMBER LLC, VENTANA FUND OPERATES A 20- UNIT MULTI-FAMILY PROPERTY WHICH PROVIDES AFFORDABLE HOUSING TO LOW- INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Todd Clarke Chair | OfficerTrustee | 7.67 | $0 |
Paul Cassidy Vice-Chair | OfficerTrustee | 2 | $0 |
Elizabeth Bernal Secretary | OfficerTrustee | 1 | $0 |
Steven Anaya Treasurer | OfficerTrustee | 1 | $0 |
Catherine Hummel Member | Trustee | 1 | $0 |
Robbie R Levey Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,666,265 |
| 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 | $1,666,265 |
| Total Program Service Revenue | $684,095 |
| Investment income | $11,609 |
| 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 | $2,361,969 |
| 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 | $28,961 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $244 |
| Payroll taxes | $2,509 |
| 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 | $311,454 |
| Advertising and promotion | $24,434 |
| Office expenses | $4,590 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,917 |
| Travel | $262 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $193,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,900 |
| Insurance | $12,134 |
| All other expenses | $3,893 |
| Total functional expenses | $878,540 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $558,925 |
| Savings and temporary cash investments | $2,942,874 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,611 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,013,337 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,898 |
| Net Land, buildings, and equipment | $1,179,226 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,074 |
| Total assets | $19,712,945 |
| Accounts payable and accrued expenses | $129,034 |
| Grants payable | $0 |
| Deferred revenue | $168,008 |
| 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 | $12,151,076 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,898 |
| Total liabilities | $12,455,016 |
| Net assets without donor restrictions | $1,186,783 |
| Net assets with donor restrictions | $6,071,146 |
| 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 | $19,712,945 |
Grants Awarded
Over the last fiscal year, Ventana Fund has awarded $174,839 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SHELDON FAMILY LLC PURPOSE: AFFORDABLE HOUSING | $22,214 |
WELLS PARK DEVELOPMENT LLC PURPOSE: AFFORDABLE HOUSING | $152,625 |