Glocal Ventures Inc
- Assets
- $180.3k
- Revenue
- $271.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Keller, TX
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 61-1429138
Organization Overview
Glocal Ventures Inc is located in Keller, TX. The organization was established in 2004. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glocal 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.
For the year ending 12/2022, Glocal Ventures Inc generated $271.7k 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 (4.2%) each year. All expenses for the organization totaled $227.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.4%) 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
GLOCAL VENTURES IS DEDICATED TO HOLISTIC, SOCIO-ECONOMIC DEVELOPMENT IN VIETNAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLOCAL VENTURES IS DEDICATED TO HOLISTIC, SOCIO-ECONOMIC DEVELOPMENT IN VIETNAM. GLOCAL VENTURES MOBILIZES VOLUNTEERS FROM AROUND THE WORLD TO PARTNER WITH COMMUNITIES IN VIETNAM TO SEE DREAMS REALIZED AND LIVES TRANSFORMED. VOLUNTEERS SERVE ALONGSIDE COMMUNITIES TO HELP PEOPLE WORK TOGETHER IN INTERDEPENDENCY, TAKING CHARGE OF THEIR SITUATIONS AND MOVING TOWARDS A MORE EMPOWERED AND SATISFYING LIFE AS INDIVIDUALS AND COMMUNITY. IN 2022, 87 VOLUNTEERS WERE MOBILIZED TO WORK IN VIETNAM, DIRECTLY IMPACTING 6,846 PEOPLE. 3 LIFE SKILL PROGRAMS WERE CREATED TO TRAIN AND SUPPORT 275 ORPHANS. 6,571 TEACHERS, ADMINISTRATORS, PARENTS, HIGH SCHOOL STUDENTS, AND HOUSE-MOMS RECEIVED TRAINING AT EDUCATION, PARENTING, AND BUSINESS VIRTUAL CONFERENCES. NUTRITIONAL AND HEALTH PROGRAMS SUPPLIED EDUCATION, MEAL SUPPLEMENTS, AND HYGIENE KITS TO 2,160 STUDENTS IN THE LAO CAI COMMUNITY. 55,000 MILK BOXES WERE DONATED TO AN ORPHANAGE ORGANIZATION SUPPORTING 260 STUDENTS. SCHOOL INFRASTRUCTURAL IMPROVEMENTS TO HELP 450 STUDENTS WITH ADDED WATER LINES AND A FENCED PLAYGROUND IN THE BAN PHUNG COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vu Manh Tan Vietnam Coun | Officer | 40 | $27,582 |
Nicholas Burleson Director | Trustee | 1 | $0 |
Kathleen Hindman Director/tre | OfficerTrustee | 1 | $0 |
Bob Roberts Jr Director/cha | OfficerTrustee | 1 | $0 |
Roberta Lea Manny Director/sec | OfficerTrustee | 1 | $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 | $217,779 |
| Noncash contributions included in lines 1a–1f | $28 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,779 |
| Total Program Service Revenue | $53,896 |
| 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 | $271,675 |
| 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 | $69,231 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $27,582 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,364 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,918 |
| Payroll taxes | $19,729 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,380 |
| Information technology | $192 |
| Royalties | $0 |
| Occupancy | $8,085 |
| Travel | $41,181 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,058 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $349 |
| Insurance | $0 |
| All other expenses | $626 |
| Total functional expenses | $227,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,188 |
| 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 | $84 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $180,272 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $124,790 |
| Net assets with donor restrictions | $55,482 |
| 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 | $180,272 |