Venture Catalysts
- Assets
- $106.7k
- Revenue
- $418.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 07/2018
- Data as of
- 12/2019
- EIN
- 82-5141595
Organization Overview
Venture Catalysts is located in Detroit, MI. The organization was established in 2018. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Venture Catalysts 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 12/2019, Venture Catalysts generated $418.8k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $359.4k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
VENTURE CATALYSTS IS A NON-PROFIT WITH THE MISSION OF BUILDING AN INCLUSIVE ENTREPRENEURIAL ECOSYSTEM IN DETROIT THROUGH STRATEGIC LARGE SCALE ENTREPRENEURSHIP EVENTS AND TARGETED GROWTH PROGRAMS. WE PROVIDE LEADERSHIP, TRAINING, AND MENTORSHIP FOR DIVERSE FOUNDERS AND ECOSYSTEM LEADERS. VENTURE CATALYSTS IS A TRUSTED CONNECTOR IN THE HIGH GROWTH ECOSYSTEM. THROUGH THIS ROLE, WE ATTRACT, RETAIN, AND BUILD TRUST WITH FOUNDERS WHO OFTEN FEEL EXCLUDED FROM HIGH GROWTH ENTREPRENEURSHIP. WE ARE INTENTIONAL TO KEEP ALL OF OUR PROGRAMMING ACCESSIBLE AND REPRESENTATIVE TO WELCOME MORE DIVERSE FOUNDERS INTO DETROIT'S ECOSYSTEM. WE EXPOSE THEM TO THE PATH AND POTENTIAL OF HIGH GROWTH VENTURES. OUR TRACK RECORD OF DIVERSE REPRESENTATION AND ACCESSIBLE PROGRAMMING OVER THE YEARS HAS ESTABLISHED US AS THIS TRUSTED CONNECTOR, ESPECIALLY FOR THIS UNDERREPRESENTED FOUNDER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DETROIT STARTUP WEEK 2019 - OUR ANCHOR PROGRAM, DETROIT STARTUP WEEK, IS NOW THE LARGEST FREE ENTREPRENEURSHIP EVENT IN MICHIGAN THAT INVITES ALL FOUNDERS INTO METRO DETROIT'S STARTUP ECOSYSTEM.
BACKSTAGE CAPITAL DETROIT ACCELERATOR 2019 - THE INAUGURAL THREE MONTH IN PERSON ACCELERATOR FOCUSES ON INVESTING IN UNDERREPRESENTED FOUNDERS.
STARTUP BOOST 2019 - A 6 WEEK PRE ACCELERATOR PROGRAM TO LEAD PRE-SEED STAGE STARTUPS TOWARDS ACCELERATORS, INVESTMENT, AND/OR REVENUE
OTHER - FISCAL SPONSORS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Wheat President | OfficerTrustee | 15 | $18,090 |
Amanda Lewan Secretary | OfficerTrustee | 15 | $0 |
Kelly Lapierre Treasurer | OfficerTrustee | 15 | $0 |
Kyle Bazzy Vice President | OfficerTrustee | 15 | $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 | $418,843 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $418,843 |
| Total Program Service Revenue | $0 |
| 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 | $418,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $125,000 |
| 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. | $18,090 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $730 |
| Fees for services: Accounting | $2,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $333 |
| Advertising and promotion | $35,325 |
| Office expenses | $848 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,815 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $5,234 |
| Total functional expenses | $359,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,692 |
| 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 | $106,692 |
| Accounts payable and accrued expenses | $1,725 |
| 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 | $55,000 |
| Total liabilities | $56,725 |
| Net assets without donor restrictions | $49,967 |
| 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 | $106,692 |
Grants Awarded
Over the last fiscal year, Venture Catalysts has awarded $125,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GRAND CIRCUS PURPOSE: GENERAL PURPOSE | $75,000 |
CASTING DE KHRYSOPOEIA INC PURPOSE: GENERAL PURPOSE | $10,000 |
NATURALICIOUS PURPOSE: GENERAL PURPOSE | $10,000 |
ALERJE INC PURPOSE: GENERAL PURPOSE | $10,000 |
DIET ID PURPOSE: GENERAL PURPOSE | $10,000 |
CROWDFREAK INC PURPOSE: GENERAL PURPOSE | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Venture Catalysts has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: GALA 2022 | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Foundation For Detroits Future Detroit, MI | $47,892,805 | $26,320,980 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
Community Action Program Commission Of The Lancaster-Fairfield County Lancaster, OH | $11,087,648 | $12,770,614 |