Venture Mentoring Team Inc
- Assets
- $272.0k
- Revenue
- $264.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Pompano Beach, FL
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 81-5139940
Organization Overview
Venture Mentoring Team Inc is located in Pompano Beach, FL. The organization was established in 2017. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venture Mentoring Team 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 12/2021, Venture Mentoring Team Inc generated $264.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.0% each year . All expenses for the organization totaled $149.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE VENTURE MENTORING TEAM (THE VMT) IS A NONPROFIT EDUCATIONAL 501(C)(3) CONTINUED ON SCHEDULE O...DEDICATED TO FOSTERING THE STARTUP COMMUNITY BY TRAINING AND CREDENTIALING MENTORS AND THEN CONNECTING THEM WITH THE BEST AND BRIGHTEST ENTREPRENEURS TO HELP STARTUPS REACH THEIR FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECRUIT, VET AND TRAIN MENTORS. MENTOR STARTUP COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri-Ann Brown Direct Of Community Development | Officer | 40 | $88,968 |
Robert Nelson CEO | OfficerTrustee | 60 | $0 |
Jim Ryan Director | Trustee | 5 | $0 |
Tom Mersch 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 | $250,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,000 |
| Total Program Service Revenue | $14,000 |
| Investment income | $211 |
| 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 | $264,211 |
| 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. | $88,968 |
| 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 | $6,806 |
| Fees for services: Management | $26,181 |
| 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 | $2,046 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,868 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,913 |
| All other expenses | $775 |
| Total functional expenses | $149,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $271,997 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $271,997 |
| 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 | $271,997 |
| 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 | $271,997 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Venture Mentoring Team Inc has recieved totaling $314,000.
| Awarding Organization | Amount |
|---|---|
Round It Up America Inc Los Angeles, CA PURPOSE: COMMUNITY SERVICE PROGRAMS | $264,000 |
Listen Learn Care Foundation Inc Highland Beach, FL PURPOSE: TO FURTHER CHARITABLE PURPOSE | $50,000 |
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