NonprofitsVenture For America Inc

Community Improvement & Capacity Building

Venture For America Inc

DETROIT, MI

Total revenue

$5.0M

Total expenses

$6.6M

Net assets

$560K

Grants received

$10.1M

139 grants

EIN

272987904

Tax year

2023

Mission

To revitalize american cities by mobilizing the next generation of entrepreneurs and equipping them with the skills and resources they need to create jobs. The organization operates a 2-year fellowship program that recruits, trains, and invests in top recent college graduates by placing them in startups in american cities with emerging entrepreneurship ecosystems and helping them launch their own high-impact businesses. Vfa operates a two-week training camp for incoming fellows, provides ongoing programming during the 2 year fellowship, and operates an accelerator for program graduates who are starting their own businesses.

Financials

FY 2023

Revenue

Contributions & grants$4.0M
Program service revenue$252K
Investment income$307K
Other revenue$486K
Total revenue$5.0M

Expenses

Grants paid$545K
Salaries & benefits$4.4M
Fundraising$1.4M
Other expenses$1.6M
Total expenses$6.6M
Total assets$2.5M
Net assets$560K

People

22 listed

NameRoleCompensation

ERIC SOMERVILLE

CEO

Board

$250K

40 hrs/wk

CHRISTIAN ANTHONY

FORMER DIRECTOR

Board

3 hrs/wk

MARCY ENGEL

FORMER DIRECTOR

Board

3 hrs/wk

MATT HAGGMAN

FORMER DIRECTOR

Board

3 hrs/wk

GIGI LEE CHANG

DIRECTOR

Board

3 hrs/wk

SHEGUN OTULANA

DIRECTOR

Board

3 hrs/wk

JAMES FEAGIN

DIRECTOR

Board

3 hrs/wk

KARL MUTH

DIRECTOR

Board

3 hrs/wk

KIM KOLT

DIRECTOR

Board

3 hrs/wk

MAXINE CLARK

DIRECTOR

Board

3 hrs/wk

JARET DAVIS

FORMER DIRECTOR

Board

3 hrs/wk

SHANE TINTLE

FORMER DIRECTOR

Board

3 hrs/wk

JENNIFER GABRIELLI

FORMER DIRECTOR

Board

3 hrs/wk

JAY BOCKHAUS

TREASURER

Board

3 hrs/wk

DORIE SMITH

CHAIRPERSON

Board

3 hrs/wk

ERIC FELDER

FORMER DIRECTOR

Board

3 hrs/wk

ELIZABETH PARK

EMPLOYEE

Staff

$171K

40 hrs/wk

CARRIE MURPHY

EMPLOYEE

Staff

$141K

40 hrs/wk

MARY WRIGHT

EMPLOYEE

Staff

$127K

40 hrs/wk

COLLEEN JUI LIAN WONG

EMPLOYEE

Staff

$125K

40 hrs/wk

TYLER MICHAEL ORGINSKI

EMPLOYEE

Staff

$115K

40 hrs/wk

KEENAN COVINGTON

EMPLOYEE

Staff

$115K

40 hrs/wk

Grants received

Showing 139 of 139

FromAmountPurposeYear
$400K
General operating support
2024
$100K
SPECIAL PURPOSE
2024
$50K
Tulsa Programming
2024
$50K
NORTHEAST OHIO FELLOWS PROGRAM
2024
$40K
OPERATING SUPPORT OF ORGANIZATION
2024
$20K
EDUCATION; DAF FUNDED
2024
$10K
SPONSORSHIP 2024 VFA ALUMNI REUNION
2024
$10K
GENERAL SUPPORT
2024
$9K
ST. LOUIS CONFERENCE, DONATION FOR THEIR ANNUAL REUNION HELD IN ST. LOUIS
2024
$750K
DETROIT COMMUNITY INITIATIVES
2023
$425K
To support Detroit program operations, administrative costs, and summer experiental learning in Detroit.
2023
$185K
COMMUNITY DEVELOPMENT
2023
$150K
SUPPORT TO RECRUIT AND PLACE FELLOWS WITH STARTUP COMPANIES AND CAPITAL PROVIDERS IN KANSAS CITY AND ST. LOUIS. 202106-10671
2023
$150K
SPECIAL PROJECT
2023
$100K
GENERAL/OPERATING
2023
$75K
TO SUPPORT VFA'S NORTHEAST OHIO PROGRAM
2023
$75K
SUPPORTING GRANT
2023
$70K
GENERAL/OPERATING
2023
$60K
OPERATING SUPPORT OF ORGANIZATION
2023
$50K
PITTSBURGH PROGRAM SUPPORT
2023
$50K
TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
2023
$46K
For grant recipient's exempt purposes
2023
$25K
GENERAL SUPPORT
2023
$20K
TO FUND THE RECIPIENTS OPERATING BUDGET
2023
$18K
PUBLIC, SOCIETAL BENEFIT
2023
$15K
GENERAL SUPPORT; DAF FUNDED
2023
$10K
FINANCIAL WELL-BEING
2023
$10K
Sponsorship of Accelerator Program and Demo Day event
2023
$10K
SPONSORSHIP 2023 VFA ALUMNI REUNION CONFERENCE IN BALTIMORE
2023
$576K
ECONOMIC MOBILITY - VFA SUPPORT
2022
$450K
to support Detroit program operations, related national administration, and summer experiential learning in Detroit
2022
$250K
GENERAL SUPPORT
2022
$185K
COMMUNITY DEVELOPMENT
2022
$150K
SUPPORT TO RECRUIT AND PLACE FELLOWS WITH STARTUP COMPANIES AND CAPITAL PROVIDERS IN KANSAS CITY AND ST. LOUIS. 202106-10671
2022
$100K
SPECIAL PROJECT
2022
$75K
SUPPORTING GRANT
2022
$75K
SA Fellows Grant
2022
$60K
OPERATING SUPPORT OF ORGANIZATION
2022
$50K
TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
2022
$50K
SPECIAL PROJECT
2022
$50K
EMPLOYMENT PROGRAM
2022
$25K
SPECIAL PROJECT
2022
$25K
UNRESTRICTED GENERAL SUPPORT
2022
$20K
GENERAL OPERATING
2022
$15K
CHARITABLE DONATION
2022
$13K
For grant recipient's exempt purposes
2022
$10K
2022 OPERATING SUPPORT
2022
$10K
CONTRIBUTION
2022
$10K
Exempt purpose of organization
2022
$5K
PUBLIC, SOCIETAL BENEFIT
2022
$500
GIVES RECENT COLLEGE GRADUATES FIRSTHAND ENTREPRENEURIAL EXPERIENCE
2022
$250K
GENERAL SUPPORT
2021
$75K
San Antonio 2021 Cohort Program Grant
2021
$75K
TO ATTRACT AND TRAIN A DIVERSE COHORT OF RECENT GRADUATE ENTREPRENEURS AND PLACE WITH LOCAL START-UPS AS PART OF VENTURE FOR AMERICAS TWO-YEAR PROGRAM IN PITTSBURGH, PLUS HIRE A LOCAL PROGRAM MANAGER
2021
$60K
OPERATING SUPPORT OF ORGANIZATION
2021
$56K
For grant recipient's exempt purposes
2021
$56K
For grant recipient's exempt purposes
2021
$30K
PUBLIC, SOCIETAL BENEFIT
2021
$25K
GENERAL FUNDS
2021
$5K
FUNDING FOR FELLOWSHIPS AND AND ENTREPRENEURIAL DEVELOPMENT
2021
$440K
TO SUPPORT 12 FELLOWS/YEAR AND STAFFING TO SUPPORT STUDENT RECRUITMENT
2020
$300K
GENERAL SUPPORT
2020
$253K
Workforce Development
2020
$200K
GENERAL/OPERATING
2020
$185K
COMMUNITY DEVELOPMENT
2020
$165K
Tulsa Operations
2020
$150K
PROGRAM SUPPORT
2020
$125K
San Antonio 2020 Cohort Program Grant
2020
$100K
GENERAL OPERATIONS
2020
$100K
TO SUPPORT THE SUMMER TRAINING CAMP PROGRAM IN DETROIT
2020
$75K
TO ATTRACT AND TRAIN A DIVERSE COHORT OF RECENT GRADUATE ENTREPRENEURS AND PLACE WITH LOCAL START-UPS AS PART OF VENTURE FOR AMERICAS TWO-YEAR PROGRAM IN PITTSBURGH, PLUS HIRE A LOCAL PROGRAM MANAGER
2020
$75K
to support NEO Fellows attendance at Training Camp and Training Camp Redux in 2020 and cultivation of Akron as a host city
2020
$75K
SUPPORTING GRANT
2020
$60K
OPERATING SUPPORT OF ORGANIZATION
2020
$60K
OPERATING SUPPORT OF ORGANIZATION
2020
$50K
SPECIAL PROJECT
2020
$50K
TO ADDRESS THE IMPACT OF SYSTEMIC INEQUALITY
2020
$50K
TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
2020
$30K
2020 GENERAL OPERATING SUPPORT
2020
$27K
GENERAL OPERATING
2020
$26K
For grant recipient's exempt purposes
2020
$25K
GENERAL PURPOSE
2020
$25K
UNRESTRICTED GENERAL SUPPORT
2020
$25K
Venture for America Cleveland.
2020
$25K
COMMUNITY & HUMAN SERVICES
2020
$25K
GENERAL SUPPORT
2020
$20K
GENERAL OPERATING
2020
$10K
FOR RECIPIENT'S EXEMPT PURPOSE
2020
$10K
TO FUND THE RECIPIENTS OPERATING BUDGET
2020
$7K
GENERAL
2020
$5K
PUBLIC, SOCIETAL BENEFIT
2020
$5K
FUNDING FOR FELLOWSHIPS AND AND ENTREPRENEURIAL DEVELOPMENT
2020
$5K
ENGAGE GRANTS
2020
$2K
for diversity, equity, and inclusion training for board and staff members
2020
$500
GENERAL SUPPORT
2020
$100
GENERAL SUPPORT
2020
$50
ECONOMIC SUPPORT
2020
$300K
GENERAL SUPPORT
2019
$60K
OPERATING SUPPORT OF ORGANIZATION
2019
$30K
UNRESTRICTED CONTRIBUTION TO PUBLIC CHARITY
2019
$25K
UNRESTRICTED GENERAL SUPPORT
2019
$17K
PUBLIC, SOCIETAL BENEFIT
2019
$13K
For grant recipient's exempt purposes
2019
$125K
2019 Fellows Program Grant
2018
$65K
OPERATING SUPPORT OF ORGANIZATION
2018
$56K
For grant recipient's exempt purposes
2018
$50K
PROGRAM/OPERATING SUPPORT
2018
$43K
PUBLIC, SOCIETAL BENEFIT
2018
$25K
BIRMINGHAM CHPTR
2018
$20K
GENERAL SUPPORT
2018
$15K
GENERAL PURPOSE
2018
$10K
SEED FUNDING
2018
$5K
FUNDING FOR FELLOWSHIPS AND AND ENTREPRENEURIAL DEVELOPMENT
2018
$69K
FOR GRANT RECIPIENT'S EXEMPT PURPOSES
2017
$46K
SOCIAL SERVICES/SOCIAL BENEFITS
2017
$50
PUBLIC SUPPORT OF ORGANIZATION MISSION
2017

Funded by

$10.1M from 60 funders · 139 grants · 2017–2024

William Davidson Foundation

$1.8M · 5 grants · 2020–2024

The Gilbert Family Foundation

$1.3M · 2 grants · 2022–2023

John Brown Cook Foundation

$1.1M · 5 grants · 2019–2023

The Horace W Goldsmith Foundation

$575K · 7 grants · 2020–2024

The Abell Foundation Inc

$555K · 3 grants · 2020–2023

Mike And Gillian Goodrich Foundation

$465K · 8 grants · 2018–2024

80-20 Foundation

$400K · 4 grants · 2018–2022

Alabama Power Foundation Inc

$370K · 3 grants · 2020–2023

Details

EIN272987904
NTEE codeS30
Subsection03
Ruling date2011-04
Formed2011
Employees57
Volunteers48
VENTURE FOR AMERICA INC — Mission, Financials & Grants Received | Grantivo