Recovery Ventures Corporation
- Assets
- $3.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 19
- Location
- Black Mountain, NC
- Founding
- 12/2002
- Data as of
- 03/2024
- EIN
- 71-0875890
Organization Overview
Recovery Ventures Corporation is located in Black Mountain, NC. The organization was established in 2002. According to its NTEE Classification (F20) the organization is classified as: Substance Abuse Dependency, Prevention & Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 03/2024, Recovery Ventures Corporation employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Recovery Ventures Corporation 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 03/2024, Recovery Ventures Corporation generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $2.0m during the year ending 03/2024. As we would expect to see with falling revenues, expenses have declined by (1.6%) 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
RECOVERY VENTURES OFFERS INDIVIDUALS SUFFERING FROM CHRONIC SUBSTANCE ADDICTIONS LONG TERM RESIDENTIAL TREATMENT AND AFTERCARE IN A SAFE AND HEALTHY ENVIRONMENT THAT PROMOTES SELF-SUFFICIENCY, EMOTIONAL GROWTH, PERSONAL ACCOUNTABILITY AND PERSONAL VALUES ENHANCEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECOVERY VENTURES IS A LONG-TERM RESIDENTIAL TREATMENT PROGRAM IN WESTERN NORTH CAROLINA THAT OFFERS HOPE TO INDIVIDUALS SUFFERING FROM SUBSTANCE USE DISORDERS. WE OFFER INDIVIDUALS A FREE OPTION FOR TREATMENT WITH NO INSURANCE REQUIRED FOR ADMISSION. WITH OVER 85 PRIMARY CARE TREATMENT BEDS FOR MEN AND WOMEN, WE FOCUS ON PROVIDING A SAFE ENVIRONMENT FOR INDIVIDUALS TO HEAL, BUILD LASTING CONNECTIONS WITH THEIR PEERS AND LEARN TO LIVE A FULFILLING PRODUCTIVE LIFE IN LONG-TERM RECOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Fort Ceo/executive Director | Officer | 40 | $133,511 |
Vera Jones CFO | Officer | 40 | $66,967 |
Sharon Sweede MD Chair | OfficerTrustee | 4 | $0 |
Walker Stocks Vice-Chair | OfficerTrustee | 4 | $0 |
Wendy Paben Board Member | Officer | 1 | $0 |
Bill Sbrocco Board Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $246,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $289,478 |
| Noncash contributions included in lines 1a–1f | $278,802 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $535,605 |
| Total Program Service Revenue | $1,631,041 |
| Investment income | $1,147 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,737 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $742 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,158,335 |
| 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. | $237,539 |
| Compensation of current officers, directors, key employees. | $47,508 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $409,487 |
| Pension plan accruals and contributions | $9,725 |
| Other employee benefits | $82,022 |
| Payroll taxes | $50,452 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,704 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $655 |
| Fees for services: Other | $5,601 |
| Advertising and promotion | $1,362 |
| Office expenses | $41,420 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $231,618 |
| Travel | $10,873 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $779 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,876 |
| Insurance | $67,866 |
| All other expenses | $304,443 |
| Total functional expenses | $2,004,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,402 |
| Savings and temporary cash investments | $220,704 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $205,137 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,664 |
| Prepaid expenses and deferred charges | $86,637 |
| Net Land, buildings, and equipment | $2,420,572 |
| Investments—publicly traded securities | $14,266 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,215,382 |
| Accounts payable and accrued expenses | $12,001 |
| 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 | $12,001 |
| Net assets without donor restrictions | $3,203,381 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,215,382 |