Venn Foundation
- Assets
- $14.0m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Saint Paul, MN
- Founding
- 04/2017
- Data as of
- 12/2023
- EIN
- 81-4476503
Organization Overview
Venn Foundation is located in Saint Paul, MN. The organization was established in 2017. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Venn Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venn Foundation 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 12/2023, Venn Foundation generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $6.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Venn Foundation has awarded 16 individual grants totaling $910,923. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO UNLEASH THE FULL POWER OF PROGRAM-RELATED INVESTMENTS TO ACHIEVE CHARITABLE IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VENN FOUNDATION (VENN) IS A NONPROFIT PUBLIC CHARITY ON A MISSION TO UNLEASH THE FULL POWER OF PROGRAM-RELATED INVESTMENTS(PRIS) TO ADVANCE CHARITABLE IMPACT. BY OPENING A SPECIAL DONOR-ADVISED FUND CALLED A VENN ACCOUNT, ANY INDIVIDUAL OR ORGANIZATION CAN RECOMMEND THAT THEIR CHARITABLE DOLLARS BE USED BY VENN TO MAKE PRIS. VENN CAN SYNDICATE ANY ONE PRI AMONG ANY NUMBER OF VENN ACCOUNTS. FINANCIAL RETURNS FROM THESE PRIS GO BACK TO PARTICIPATING ACCOUNTS PRO RATA FOR THE DONORS TO RECOMMEND REDEPLOYMENT INTO NEW PRIS OR GRANTS. OUR VISION IS TO CREATE A NEW CATEGORY OF FLEXIBLE, BELOW-MARKET-RATE CAPITAL THAT CAN BE DIRECTED CREATIVELY TO PROJECTS AND ORGANIZATIONS ACROSS ALL SECTORS THAT ARE HELPING ADVANCE CHARITABLE GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Ochs President And Director | OfficerTrustee | 40 | $103,750 |
Jaclyn Schroeder Board Chair | OfficerTrustee | 5 | $0 |
William Bodner Board Treasurer | OfficerTrustee | 5 | $0 |
Millie Acamovic Director | Trustee | 5 | $0 |
Michael Dai Director | Trustee | 5 | $0 |
Ramya Rauf Director | Trustee | 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 | $3,844,580 |
| Noncash contributions included in lines 1a–1f | $498,634 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,844,580 |
| Total Program Service Revenue | $578,514 |
| Investment income | $45,756 |
| 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 | $4,468,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $395,902 |
| 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. | $103,750 |
| Compensation of current officers, directors, key employees. | $31,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,368 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,996 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,791 |
| Fees for services: Accounting | $11,227 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,194 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $21,560 |
| Royalties | $0 |
| Occupancy | $600 |
| Travel | $1,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,730 |
| All other expenses | $0 |
| Total functional expenses | $6,042,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,315 |
| Savings and temporary cash investments | $1,574,805 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $654,365 |
| 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 | $11,099 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,558,987 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,009,571 |
| Accounts payable and accrued expenses | $29,927 |
| 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 | $1,250,000 |
| Other liabilities | $0 |
| Total liabilities | $1,279,927 |
| Net assets without donor restrictions | $12,579,644 |
| Net assets with donor restrictions | $150,000 |
| 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 | $14,009,571 |
Grants Awarded
Over the last fiscal year, Venn Foundation has awarded $395,902 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL PHILANTHROPIC TRUST PURPOSE: GRANT TO DONOR-ADVISED FUND NO. AGG784581 | $25,329 |
THRIVENT CHARITABLE IMPACT & INVESTING PURPOSE: FOR THRIVENT CHARITABLE FUND 449208 - THRIVENT CHARITABLE GROWTH & INNOVATION FUND | $164,000 |
NATIONAL PHILANTHROPIC TRUST PURPOSE: PLEASE DEPOSIT IN DONOR-ADVISED FUND NO. AGG784581 WITH NATIONAL PHILANTHROPIC TRUST. | $24,573 |
WORLD PEDIATRIC PROJECT PURPOSE: GENERAL OPERATIONS | $27,000 |
WORLD PEDIATRIC PROJECT PURPOSE: PURPOSE RESTRICTED FOR USE IN THE LATIN AMERICA REGION | $10,000 |
WORLD PEDIATRIC PROJECT PURPOSE: PURPOSE RESTRICTED FOR USE IN THE ASIA/PACIFIC REGION | $10,000 |