Venture Noire INC: Nonprofit Profile, Financials & Form 990 (EIN 85-1340632)

Revenue by fiscal year
FY2020	Not on file
FY2021	$692K
FY2022	$1.5M
FY2023	$222K

Expenses by fiscal year
FY2020	Not on file
FY2021	$542K
FY2022	$1.0M
FY2023	$471K

Net assets by fiscal year
FY2020	Not on file
FY2021	$149K
FY2022	$603K
FY2023	$305K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Sep 2020.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $471K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation

Keenan Beasley

President

$0Pt VII · Sec A

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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

Connects corporations with communities to improve Black business health.

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Provided by the organization

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1 program · $60K · in their own filed words · FY2023

01

Community Events and Programming

$60Kprogram 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 · FY2023

Ewing Marion Kauffman FoundationFY2023$200K

Network for Good INCFY2023$14K

Total grants receivedfrom 2 funders$214K

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$222K

Ln 12

Gifts and grantsLn 1h$222K

Money outPt IX

$471K

Ln 25

Programscol B$471K

Owns and owesPt X

$305K

net assets · Ln 32

Cash and savingsLn 1–2$282K

Total assetsLn 16$306K

LiabilitiesLn 26$1K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a0

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$222K

Total revenueLn 12$222K

Assets in detailPt X, end of year

CashLn 1$282K

Cash and savings togetherLn 1–2$282K

Total assetsLn 16$306K

LiabilitiesLn 26$1K

Net assetsLn 32$305K

OperationsPt I, VI

EmployeesI 50

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$248K	$282K
Total assetsLn 16	$612K	$306K
LiabilitiesLn 26	$9K	$1K
Net assetsLn 32	$603K	$305K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$75K	$75K
Other employee benefitsLn 9	$1K	$1K
Payroll taxesLn 10	$16K	$16K
Management feesLn 11a	$61K	$61K
Office expensesLn 13	$19K	$19K
OccupancyLn 16	$1K	$1K
Depreciation, depletion and amortizationLn 22	$1K	$1K
InsuranceLn 23	$2K	$2K
Other expenses (24a–d)Ln 24	$286K	$286K
All other expensesLn 24e	$8K	$8K
Total functional expensesLn 25	$471K	$471K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest Viewing	$222K	$471K	−$249K	$305K	990 PDF
FY2022	$1.5M	$1.0M	$457K	$603K	990 PDF
FY2021	$692K	$542K	$149K	$149K	990 PDF
FY2020					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 FY2023 990 (6 parts)

Part I · Summary $221,817 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,458,170$221,817

I-9 Program service revenue$0

I-10 Investment income$0

I-11 Other revenue$0

I-12 Total revenuePrior year $1,458,170$221,817

I-13 Grants and similar amounts paidPrior year $10,000$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $415,325$92,513

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $575,939$378,781

I-18 Total expensesPrior year $1,001,264$471,294

I-19 Revenue less expensesPrior year $456,906−$249,477

Part VI · Governance no flags

VI-1a Voting members of the governing body0

VI-1b Independent voting members0

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 $221,817 across 4 lines filed

VIII-1f All other contributions, gifts and grants$221,817

VIII-1h Total contributions, gifts and grants$221,817

VIII-8 Net income from fundraising events$0

VIII-12 Total revenue$221,817

Part IX · Statement of functional expenses $471,294 across 10 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $75,385$75,385

IX-9 Other employee benefitsPrograms $1,499$1,499

IX-10 Payroll taxesPrograms $15,629$15,629

IX-11a Management feesPrograms $60,742$60,742

IX-13 Office expensesPrograms $18,960$18,960

IX-16 OccupancyPrograms $1,318$1,318

IX-22 Depreciation, depletion and amortizationPrograms $1,480$1,480

IX-23 InsurancePrograms $2,090$2,090

IX-24 Other expenses (24a–d)Programs $285,888$285,888

IX-24e All other expensesPrograms $8,303$8,303

IX-25 Total functional expensesPrograms $471,294 · Management $0 · Fundraising $0$471,294

Part X · Balance sheet $306,277 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $247,506$282,277

X-4 Accounts receivableStart of year $360,758$24,000

X-16 Total assetsStart of year $611,844$306,277

X-25 Other liabilitiesStart of year $592$1,052

X-26 Total liabilitiesStart of year $8,592$1,052

X-32 Total net assets or fund balancesStart of year $603,252$305,225

X-33 Total liabilities and net assetsStart of year $611,844$306,277

Part XI · Reconciliation of net assets $305,225 net assets at year end

XI-1 Total revenue$221,817

XI-2 Total expenses$471,294

XI-3 Revenue less expenses−$249,477

XI-4 Net assets at start of year$603,252

XI-10 Net assets at end of year$305,225

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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