Aire Ventures INC

Tax-deductible

Miami, FL501(c)(3)Community DevelopmentEIN 81-4117606Revenue $672K in FY2024

On file with the IRSaireventures.org1951 Nw 7th Ave Ste 160 Pmb 113, 33136-1139 · Miami, FLTax-exempt since Nov 2016Publicly supported — 509(a)(2)

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To bridge systemic gaps in access, opportunity, and racial equity by scaling innovation and technology solutions to them.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 25 volunteers and 6 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $85K a year · 11% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$253K
to officers and key staff · 29% of spending
Top officer’s pay higher than 99% of similar orgs
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $352K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$183K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$672K
-12% vs prior year
Spent
$867K
To programs
94%
Net assets
$613K
By yearFY2020–FY2024
Revenue
$672K
FY2024▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$541K
FY2021$1.9M
FY2022$137K
FY2023$764K
FY2024$672K
Expenses
$867K
FY2024▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$763K
FY2021$753K
FY2022$1.1M
FY2023$974K
FY2024$867K
Net assets
$613K
FY2024▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$816K
FY2021$2.0M
FY2022$1.0M
FY2023$808K
FY2024$613K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $811K Management & general 6% · $56K Fundraising 0% · $9

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990; $253K paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO of Tech Equity Miami
$252,692Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A

Johanna Mikkola’s $253K as CEO of Tech Equity Miami is at the 99th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Johanna Mikkola$252,692————
Imran Arif Siddiqui—$201,202———
Leigh-Ann Buchanan——$99,462$130,000$135,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Aire Ventures INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Scales innovation and technology to bridge gaps in access, opportunity, and racial equity.

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Provided by the organization

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3 programs · $811K · in their own filed words · FY2024
01

Opportunity connect develops deep community relationships that connect bipoc entrepreneurs to capital and opportunity through: 1) business plan training; 2) character-based and alternative lending; 3) technical assistance and individualized growth consulting; and 4) real estate and retail incubation.

$386Kprogram expense
02

Tech equity miami is a first of its kind funding consortium that aims to deploy $100 million in philanthropic funding over five years into initiatives that remove entry barriers into the tech industry and that will create opportunities for underrepresented groups, including youth and small businesses.

$341Kprogram expense
03

Nyah project believes that travel awakens leaders and bridges systemic opportunity gaps by providing fellowships for diverse youth from underserved communities to experience worlds beyond them.

$84Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$352K
See all 3 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$672K
Ln 12
Gifts and grantsLn 1h$672K
Money outPt IX
$867K
Ln 25
Programscol B$811K
Managementcol C$56K
Fundraisingcol D$9
Owns and owesPt X
$613K
net assets · Ln 32
Cash and savingsLn 1–2$778K
Total assetsLn 16$795K
LiabilitiesLn 26$183K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$672K
Total revenueLn 12$672K
Assets in detailPt X, end of year
CashLn 1$778K
Cash and savings togetherLn 1–2$778K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$795K
LiabilitiesLn 26$183K
Net assetsLn 32$613K
OperationsPt I, VI
EmployeesI 56
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$899K$778K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.0M$795K
LiabilitiesLn 26$204K$183K
Net assetsLn 32$808K$613K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$253K$253K
Other salaries and wagesLn 7$132K$132K
Other employee benefitsLn 9$48K$47K$692
Payroll taxesLn 10$25K$25K
Other fees for servicesLn 11g$46K$13K$34K
Office expensesLn 13$5K$5K$845
Information technologyLn 14$11K$7K$4K
TravelLn 17$10K$10K
InterestLn 20$686$271$415
InsuranceLn 23$6K$4K$3K
Other expenses (24a–d)Ln 24$330K$316K$14K$9
All other expensesLn 24e$352$131$221
Total functional expensesLn 25$867K$811K$56K$9

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $672K$867K−$195K$613K 990 PDF
FY2023 $764K$974K−$209K$808K 990 PDF
FY2022 $137K$1.1M−$959K$1.0M 990 PDF
FY2021 $1.9M$753K$1.2M$2.0M 990 PDF
FY2020 $541K$763K−$222K$816K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $672,346 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $764,399$672,346
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $764,399$672,346
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $534,501$457,613
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $439,148$409,850
I-18 Total expensesPrior year $973,649$867,463
I-19 Revenue less expensesPrior year −$209,250−$195,117
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $672,346 across 3 lines filed
VIII-1f All other contributions, gifts and grants$672,346
VIII-1h Total contributions, gifts and grants$672,346
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$672,346
Part IX · Statement of functional expenses $867,463 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $252,692$252,692
IX-7 Other salaries and wagesPrograms $132,426$132,426
IX-9 Other employee benefitsPrograms $46,995 · Management $692$47,687
IX-10 Payroll taxesPrograms $24,808$24,808
IX-11g Other fees for servicesPrograms $12,776 · Management $33,590$46,366
IX-13 Office expensesPrograms $4,617 · Management $845$5,462
IX-14 Information technologyPrograms $7,121 · Management $3,616$10,737
IX-17 TravelPrograms $9,931$9,931
IX-20 InterestPrograms $271 · Management $415$686
IX-23 InsurancePrograms $3,706 · Management $2,657$6,363
IX-24 Other expenses (24a–d)Programs $315,932 · Management $14,012 · Fundraising $9$329,953
IX-24e All other expensesPrograms $131 · Management $221$352
IX-25 Total functional expensesPrograms $811,406 · Management $56,048 · Fundraising $9$867,463
Part X · Balance sheet $795,300 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $899,056$778,428
X-3 Pledges and grants receivableStart of year $75,000$0
X-4 Accounts receivableStart of year $17,414$13,125
X-9 Prepaid expenses and deferred chargesStart of year $20,031$3,747
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $1,011,501$795,300
X-17 Accounts payable and accrued expensesStart of year $203,819$182,735
X-26 Total liabilitiesStart of year $203,819$182,735
X-27 Net assets without donor restrictionsStart of year $75,027$38,114
X-28 Net assets with donor restrictionsStart of year $732,655$574,451
X-32 Total net assets or fund balancesStart of year $807,682$612,565
X-33 Total liabilities and net assetsStart of year $1,011,501$795,300
Part XI · Reconciliation of net assets $612,565 net assets at year end
XI-1 Total revenue$672,346
XI-2 Total expenses$867,463
XI-3 Revenue less expenses−$195,117
XI-4 Net assets at start of year$807,682
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$612,565

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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