Self Help Ventures Fund
- Assets
- $1.0b
- Revenue
- $95.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 05/1984
- Data as of
- 12/2022
- EIN
- 58-1562750
Organization Overview
Self Help Ventures Fund is located in Durham, NC. The organization was established in 1984. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic 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. Self Help Ventures 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 12/2022, Self Help Ventures Fund generated $95.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $43.4m during the year ending 12/2022. While expenses have increased by 3.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
SELF-HELP VENTURES FUNDS MISSION IS TO CREATE AND PROTECT OWNERSHIP AND ECONOMIC OPPORTUNITY FOR ALL, ESPECIALLY PEOPLE OF COLOR, WOMEN, RURAL RESIDENTS AND LOW-WEALTH FAMILIES AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT THROUGH THE RENOVATION OF HISTORIC BUILDINGS, CONSTRUCTION OF NEW BUILDINGS IN DISTRESSED COMMUNITIES. PROVIDING QUALITY, AFFORDABLE RETAIL, COMMUNITY FACILITIES AND COMMERCIAL RENTAL SPACE TO REVITALIZE AND STABILIZE DISTRESSED COMMUNITIES.ECONOMIC DEVELOPMENT THROUGH PROVISION OF RENTAL PROPERTY IN DISTRESSED AND BLIGHTED AREAS,TOTAL BENEFICIARIES = APPROXIMATELY 4,662
CHARITABLE LOANS AND INVESTMENTS TO COMMUNITY DEVELOPMENT PROJECTS EMPLOYING LOW-INCOME, MINORITY AND UNEMPLOYED PERSONS; TO PROJECTS IN LOW-INCOME,MINORITY, RURAL AND DISTRESSED COMMUNITIES; AND TO CHARITABLE ORGANIZATIONS.TOTAL BENEFICIARIES = APPROXIMATELY 4,995
FACILITATION OF A SECONDARY MARKET AT REASONABLE RATES ON A SUBSTAINABLE BASIS FOR HOME MORTGAGES MADE TO LOW-INCOME AND MINORITY BUYERS WHO LIVE IN DISTRESSED COMMUNITIES TO MAKE HOMEOWNERSHIP MORE WIDELY AVAILABLE TO THESE FAMILIES.TOTAL BENEFICIARIES = APPROXIMATELY 20,757
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Chambers Treasurersecretary | Officer | 0 | $0 |
Martin Eakes Ceodirector | OfficerTrustee | 0 | $0 |
Laura Benedict President | Officer | 0 | $0 |
Mark Korell Director | Trustee | 0.5 | $0 |
Tara Kenchen Director | Trustee | 0.5 | $0 |
Ronn Stewart Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Yardi Systems Inc Software | 12/30/22 | $403,922 |
Piedmont Service Group Inc Construction | 12/30/22 | $371,115 |
Dixon Hughes Goodman Llp Accounting Firm | 12/30/22 | $330,560 |
Shimar Recycling Inc Recycling Service | 12/30/22 | $209,120 |
Novogradac Company Llp Accounting Firm | 12/30/22 | $156,555 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,237,521 |
| Government grants | $300,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,386,259 |
| Noncash contributions included in lines 1a–1f | $31,824,408 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,923,780 |
| Total Program Service Revenue | $56,038,772 |
| Investment income | $2,136,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $606,723 |
| Net Gain/Loss on Asset Sales | -$206,851 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $95,498,767 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,094 |
| Fees for services: Accounting | $94,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $444,542 |
| Office expenses | $278,574 |
| Information technology | $1,575,333 |
| Royalties | $0 |
| Occupancy | $829,506 |
| Travel | $122,699 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $113,339 |
| Interest | $13,301,896 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,461,884 |
| Insurance | $55,178 |
| All other expenses | $3,382,851 |
| Total functional expenses | $43,396,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $160,562,050 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,403,347 |
| 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 | $211,927,514 |
| Investments—publicly traded securities | $157,783,421 |
| Investments—other securities | $0 |
| Investments—program-related | $419,108,345 |
| Intangible assets | $0 |
| Other assets | $21,036,996 |
| Total assets | $1,009,821,673 |
| Accounts payable and accrued expenses | $9,880,324 |
| 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 | $175,466,785 |
| Unsecured mortgages and notes payable | $179,734,307 |
| Other liabilities | $13,868,595 |
| Total liabilities | $378,950,011 |
| Net assets without donor restrictions | $584,541,431 |
| Net assets with donor restrictions | $46,330,231 |
| 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 | $1,009,821,673 |
Grants Awarded
Over the last fiscal year, Self Help Ventures Fund has awarded $158,334 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SELF-HELP CREDIT UNION PURPOSE: to preserve home ownership for seniors in a low income neighborhood | $7,575 |
HOUSING FOR NEW HOPE INC PURPOSE: to preserve afforadablity for a 10 unit low income housing development | $150,759 |