Public Charity

VENTURE FOR AMERICA INC

Based in DETROIT, MI, VENTURE FOR AMERICA INC operates as a Public Charity. The organization reported $2.5M in revenue, $2.2M in expenses, $2.3M in total assets for fiscal year 2024. Imperigo tracks 72 reported grant relationships connected to this organization totaling approximately $3.2M.

EIN: 272987904 DETROIT, MI Economic Development NTEE: S30 Latest filing: 2024
Total Revenue$2.5M
Total Expenses$2.2M
Total Assets$2.3M
Grant Records72
Funding Total$3.2M
Filing Years2020–2024

Mission

VENTURE FOR AMERICA'S MISSION IS TO RESPONSIBLY STEWARD ITS REMAINING RESOURCES WHILE SUPPORTING THE TRANSITION, ADMINISTRATIVE CLOSE-OUT, AND LONG-TERM NEEDS OF ITS FELLOW AND ALUMNI COMMUNITY. THE ORGANIZATION IS COMMITTED TO PRESERVING ITS LEGACY OF ENTREPRENEURSHIP DEVELOPMENT AND ENSURING AN ORDERLY WIND-DOWN OF OPERATIONS CONSISTENT WITH ITS CHARITABLE PURPOSE.

Where $100 goes at Venture for America Inc

How Venture for America Inc divides every $100 it spends, from its own Form 990 filings, averaged across 8 years.

$71 Programs the work itself
$11 Management running the organization
$18 Fundraising raising the next dollar

Inside the $71 for programs

$71
In 2024, Venture for America (vfa) continued to operate its entrepreneurship and fellowship programs, providing training, placement support, and community resources to its network of fellows and alumni
All program spending · Reported in the filing: 375 businesses; 1,600 individuals
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Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

CHAIRPERSON Dorie Smith
CFO Elizabeth Park
CEO Eric Somerville
DIRECTOR Gigi Lee Chang
DIRECTOR James Feagin
TREASURER Jay Bockhaus

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support
$1,931,672 49 grants
Economic Development
$784,150 5 grants
Human & Social Services
$217,740 4 grants
Education
$47,700 4 grants
Fundraising & Sponsorship
$30,000 3 grants

Financial Trends

Year Revenue Expenses Assets
2024 $2.5M $2.2M $2.3M
2023 $5.0M $6.6M $2.5M
2022 $5.4M $6.5M $2.9M
2021 $6.9M $5.4M $3.6M
2020 $5.1M $4.6M $3.8M

Between 2020 and 2024, reported annual revenue declined from $5.1M to $2.5M (-51%), with total assets most recently reported at $2.3M.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for VENTURE FOR AMERICA INC

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