Alternatives Venture Fund Inc
- Assets
- $1.1m
- Revenue
- $212.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Ithaca, NY
- Founding
- 09/1999
- Data as of
- 12/2021
- EIN
- 16-1568466
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.
Form
990
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) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Mietlicki Treasurer/secretary | OfficerTrustee | 3 | $0 |
Richard Furnas President | OfficerTrustee | 3 | $0 |
Mike Katz Member | Trustee | 2 | $0 |
Leslyn Mcbean-Clairborne Member | Trustee | 2 | $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 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $115,110 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,442 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,442 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,104 |
| Advertising and promotion | $0 |
| Office expenses | $3,021 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $523 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,336 |
| Total functional expenses | $313,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $735,950 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $350,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,689 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,101,639 |
| Accounts payable and accrued expenses | $1,350 |
| Grants payable | $0 |
| Deferred revenue | $52,900 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $319,799 |
| Total liabilities | $374,049 |
| Net assets without donor restrictions | $34,570 |
| Net assets with donor restrictions | $693,020 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,101,639 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Alternatives Venture Fund Inc has recieved totaling $410,000.
| Awarding Organization | Amount |
|---|---|
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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |