Kore Venture Inc
- Assets
- $131.4k
- Revenue
- $572.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Salem, NH
- Founding
- Data as of
- 12/2022
- EIN
- 85-0728308
Organization Overview
Kore Venture Inc is located in Salem, NH. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Kore Venture Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kore Venture 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, Kore Venture Inc generated $572.0k in total revenue. All expenses for the organization totaled $569.8k during the year ending 12/2022. While expenses have increased by 43.0% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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
TO EQUIP YOUNG LEADERS TO CONTRIBUTE TO SOCIETY AND PURSUE THEIR UNIQUE PATH IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KORE KICKSTARTER THE KORE KICKSTARTER IS A WEEKEND RETREAT FOR YOUNG ADULTS FROM FAMILIES OF SIGNIFICANT RESOURCES DESIGNED TO HELP THEM ANSWER QUESTIONS SUCH AS:WHAT MAKES LIFE MORE SATISFYING AND FULFILLING? IS IT MORE FREEDOM, MORE MONEY, MORE CAREER SUCCESS, MORE FRIENDS OR PERHAPS MORE PLEASURE?HOW DO WE FIND SATISFACTION AND FULFILLMENT IN OUR WORK AND RELATIONSHIPS AMIDST WEALTH?HOW CAN YOU GROW INTO THE PERSON YOU ARE MEANT TO BE AND MAKE A DIFFERENCE?
KORE VENTURE PATHWAY THE KORE VENTURE PATHWAY IS A 4-STEP LEADERSHIP DEVELOPMENT AND PERSONAL TRANSFORMATIONAL EXPERIENCE FOR NEXT GENS THAT TAKES PARTICIPANTS ON A PEER LEARNING JOURNEY OF SELF-DISCOVERY AND DESIGNED PERSONAL GROWTH PLAN. IT IS A PEER-BASED LEARNING JOURNEY THROUGH WHICH YOUNG INHERITORS DISCOVER THEIR IDENTITY, CHARACTER, PURPOSE, MEANING, AND JOY AS THEY NAVIGATE THE COMPLEXITIES AND OPPORTUNITIES OF WEALTH. THE PATHWAY MODEL IS BASED ON A 50+ LIST OF OUTCOME-BASED INDICATORS AND COMBINES EITHER A VIRTUAL OR DESTINATION-BASED DELIVERY OFFERING THAT IS FACILITATED IN A GROUP FORUM AND ENHANCED BY A ONE-TO-ONE COACHING RELATIONSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Harig President | Officer | 20 | $72,000 |
Mark Macdonald Board Treasurer / CEO | OfficerTrustee | 40 | $48,000 |
David Beatty Chairman | OfficerTrustee | 1 | $0 |
Elinor Beatty Secretary | OfficerTrustee | 1 | $0 |
Joshua Cheng Treasurer (part Year) | OfficerTrustee | 1 | $0 |
James Dilworth Secretary (part Year) | 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 | $546,520 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $546,520 |
| Total Program Service Revenue | $25,493 |
| 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 | $572,013 |
| 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. | $120,000 |
| Compensation of current officers, directors, key employees. | $76,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,915 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,680 |
| Payroll taxes | $18,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,092 |
| Fees for services: Accounting | $17,097 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $183,598 |
| Advertising and promotion | $5,592 |
| Office expenses | $11,815 |
| Information technology | $1,389 |
| Royalties | $3,000 |
| Occupancy | $0 |
| Travel | $25,829 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,664 |
| Interest | $1,520 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,600 |
| Total functional expenses | $569,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,824 |
| 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 | $13,584 |
| 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 | $131,408 |
| Accounts payable and accrued expenses | $10,687 |
| 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 | $302,250 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $312,937 |
| Net assets without donor restrictions | -$181,529 |
| 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 | $131,408 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Kore Venture Inc has recieved totaling $245,650.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $140,000 |
Adams Fund Los Angeles, CA PURPOSE: SUPPORT | $50,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: GENERAL OPERATIONS | $30,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $25,650 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Maine Development Corporation Bangor, ME | $11,518,769 | $64,676,194 |
Northern Maine Development Commission Inc Caribou, ME | $20,810,299 | $32,269,814 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
The Resource Inc For Community And Economic Development North Eastham, MA | $2,064,773 | $3,152,233 |
New England Council Inc Boston, MA | $13,389,867 | $3,995,081 |
Main South Community Development Corporation Worcester, MA | $15,010,122 | $3,407,145 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Center For Economic Democracy Boston, MA | $11,558,653 | $3,979,312 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Central Square Business Improvement District Inc Cambridge, MA | $657,722 | $2,519,554 |