Recovery Ventures Corporation
- Assets
- $2.8m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 22
- Location
- Black Mountain, NC
- Founding
- 12/2002
- Data as of
- 03/2022
- EIN
- 71-0875890
Organization Overview
Recovery Ventures Corporation is located in Black Mountain, NC. The organization was established in 2002. According to its NTEE Classification (F20) the organization is classified as: Substance Abuse Dependency, Prevention & Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 03/2022, Recovery Ventures Corporation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Recovery Ventures Corporation 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 03/2022, Recovery Ventures Corporation generated $2.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.9m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LONG-TERM RESIDENTIAL TREATMENT AND AFTER-CARE TO INDIVIDUALS SUFFERING FROM CHRONIC SUBSTANCE ADDICTIONS. THIS TREATMENT IS PROVIDED IN A SAFE, HEALTHY ENVIRONMENT THAT PROMOTES SELF-SUFFICIENCY, EMOTIONAL GROWTH, PERSONAL ACCOUNTABILITY AND PERSONAL VALUES ENHANCEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LONG-TERM RESIDENTIAL SUBSTANCE ABUSE TREATMENT FOR OVER 130 ASSOCIATES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Garvy CFO | Officer | 40 | $168,940 |
Mike Fort Ceo/ed | Officer | 40 | $118,470 |
Sharon Sweede MD Chairperson | Officer | $0 | |
Bill Sbrocco Trustee | Trustee | $0 | |
Wendy Paben Trustee | Trustee | $0 | |
Jim Thornton Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $273,439 |
| All other contributions, gifts, grants, and similar amounts not included above | $269,657 |
| Noncash contributions included in lines 1a–1f | $259,460 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $543,096 |
| Total Program Service Revenue | $1,427,676 |
| Investment income | $1,188 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $325,142 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,343,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $287,410 |
| Compensation of current officers, directors, key employees. | $143,705 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $348,675 |
| Pension plan accruals and contributions | $14,424 |
| Other employee benefits | $74,200 |
| Payroll taxes | $47,015 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,502 |
| Advertising and promotion | $738 |
| Office expenses | $22,154 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,740 |
| Travel | $3,245 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,888 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $111,355 |
| Insurance | $59,723 |
| All other expenses | $191,215 |
| Total functional expenses | $1,859,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,691 |
| Savings and temporary cash investments | $513,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $160,124 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $65,382 |
| Net Land, buildings, and equipment | $1,915,796 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,928 |
| Total assets | $2,767,534 |
| Accounts payable and accrued expenses | $44,980 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $44,980 |
| Net assets without donor restrictions | $2,633,616 |
| Net assets with donor restrictions | $88,938 |
| 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 | $2,767,534 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Recovery Ventures Corporation has recieved totaling $154,549.
| Awarding Organization | Amount |
|---|---|
Manna Food Bank Inc Asheville, NC PURPOSE: FOOD DISTRIBUTION | $153,538 |
The Hedrick Family Foundation Inc Salisbury, NC PURPOSE: CHARITABLE USE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $11 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Capital Treatment And Recovery Arlington, VA | $11,789,522 | $18,668,455 |
Insight Human Services Inc Winstonsalem, NC | $9,756,667 | $18,706,531 |
Southlight Healthcare Raleigh, NC | $4,243,339 | $11,475,535 |
Pavillon International Mill Spring, NC | $12,165,534 | $12,002,986 |
Council For Alcohol And Drug Abuse Services Inc Chattanooga, TN | $19,967,884 | $11,432,383 |
Horry County Commission On Alcohol And Drug Abuse Conway, SC | $9,808,832 | $8,232,870 |
Freedom House Recovery Center Inc Chapel Hill, NC | $5,436,315 | $8,406,225 |
York County Council On Alcohol And Drug Abuse Inc Rock Hill, SC | $6,079,794 | $6,136,033 |
Healing Transitions Inc Raleigh, NC | $22,953,698 | $10,736,237 |
Florence County Commission On Alcohol And Drug Abuse Florence, SC | $6,167,918 | $5,394,838 |
Tricounty Commission On Alcohol And Drug Abuse Orangeburg, SC | $7,413,555 | $4,978,961 |
Hope Haven Inc Charlotte, NC | $6,086,941 | $4,423,960 |