Alternatives Venture Fund Inc

Organization Overview

Alternatives Venture Fund Inc, operating under the name Alternatives Impact, is located in Ithaca, NY. The organization was established in 1999. 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 12/2021, Alternatives Impact employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alternatives Impact 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 12/2021, Alternatives Impact generated $212.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $314.0k during the year ending 12/2021. While expenses have increased by 11.6% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ACCESS TO RESOURCES, GUIDANCE AND PATHWAYS TO AFFORDABLE AND NON-PREDATORY LENDING PRODUCTS. THROUGH SMALL BUSINESS DEVELOPMENT, EDUCATION, AND ACCESS TO AFFORDABLE CAPITAL, IMPACT AIMS TO REACH LOW WEALTH AND/OR BLACK, INDIGENOUS, AND PEOPLE OF COLOR (BIPOC) COMMUNITIES, WHO HAVE BEEN TRADITIONALLY UNDERSERVED BY THE MAINSTREAM FINANCIAL INDUSTRY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VITA TAX PREPARATION:VITA-TAX PROGRAM PARTNERSHIP WITH IRS - 1,698 RETURNS PROCESSED IN 2021.


INDIVIDUAL DEVELOPMENT ACCOUNTS:INDIVIDUAL DEVELOPMENT ACCOUNTS IS AN ASSET-BUILDING PROGRAM WHEREBY THE SAVINGS OF LOW-INCOME PARTICIPANTS ARE MATCHED TO PROVIDE ASSISTANCE IN PAYING FOR HOME OWNERSHIP OR SMALL BUSINESS SUPPORT.


RE-IMAGINING INCLUSIVE SOLUTIONS FOR ENTREPRENEURS (RISE)THIS PROGRAM PROVIDES ACCESS TO AFFORDABLE FINANCING, COMBINED WITH TRAINING AND TECHNICAL ASSISTANCE, TO LOW-INCOME SMALL BUSINESS OWNERS WHO ARE TRADITIONALLY TURNED AWAY FROM MAINSTREAM FINANCIAL INSTITUTIONS.


OTHER PROGRAM SERVICES


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Board, Officers & Key Employees

Name (title)Compensation
Kevin Mietlicki
Treasurer/secretary
$0
Richard Furnas
President
$0
Leslyn Mcbean-Clairborne
Member
$0
Mike Katz
Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $164,735
All other contributions, gifts, grants, and similar amounts not included above$46,907
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$211,642
Total Program Service Revenue$0
Investment income $490
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 $212,132

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Alternatives Venture Fund Inc has recieved totaling $410,000.

Awarding OrganizationAmount
Park Foundation Inc

Ithaca, NY

PURPOSE: OWN THE CYCLE: COMMUNITY DEVELOPMENT TO CLOSE THE WEALTH GAP

$350,000
Ujeni Foundation Inc

Ithaca, NY

PURPOSE: RISE PROGRAM EXPANSION

$50,000
Community Foundation Of Tompkins County Inc

Ithaca, NY

PURPOSE: GENERAL SUPPORT

$10,000
View Grant Recipient Profile

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