Overview
What is Arkansas Venture Center?
Arkansas Venture Center, situated in Little Rock, Arkansas, serves as a hub for entrepreneurs in the financial technology (fintech) sector. Its mission is to help these startups achieve customer validation and reach viability by offering systematic programming, premium mentorship, and strategic acceleration. This approach leverages best practices in lean methodology, aiming to propel them towards scale and create measurable economic impact. The center's activities extend beyond mere guidance, providing essential support to help these fintech ventures thrive and contribute positively to the local economy.
Official website here: www.venturecenter.co
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating (46%)
The Arkansas Venture Center has received a zero-star rating, indicating significant concerns regarding its accountability and financial practices. The organization shows a relatively high percentage of independent board members, with 90% independence, and it has no recorded material diversion of assets. However, the absence of critical financial statements and several policies, such as conflict of interest and whistleblower protections, raises red flags about its transparency.
Despite having a decent liabilities to assets ratio at 9.74%, the program expense ratio stands at only 51.32%, suggesting that over half of its expenditures are not directed towards its core mission. Additionally, the organization fails to publicly post its tax forms on its website, which could hinder potential donors from understanding its financial health.
Overall, while there are some strengths, particularly in board independence, the lack of financial disclosure and essential governance policies significantly undermines the Arkansas Venture Center's credibility and trustworthiness as a nonprofit. This rating serves as a caution for potential donors to consider these issues carefully before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is Arkansas Venture Center legitimate?
Arkansas Venture Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Arkansas Venture Center submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.venturecenter.co
What is the mission statement of Arkansas Venture Center?
The Arkansas Venture Center assists startups in achieving customer validation and reaching viability through systematic programming, premium mentorship, and strategic acceleration. This approach leverages best practices in Lean methodology and is geared towards scale, aiming to create measurable economic impact. One of their initiatives includes launching a fintech accelerator to support entrepreneurs in the fintech community as they establish their businesses.
Official website here: www.venturecenter.co
Who is the CEO of Arkansas Venture Center?
Arthur Orduna is the Director of Arkansas Venture Center.
Official website here: www.venturecenter.co
What is the revenue of Arkansas Venture Center?
Arkansas Venture Center's revenue in 2022 was $1,886,810.
Official website here: www.venturecenter.co
Who are the executives of Arkansas Venture Center and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.venturecenter.co
Where can I find the form 990 for Arkansas Venture Center?
Arkansas Venture Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.venturecenter.co
Learn more at the official website: www.venturecenter.co
Mission Statement of Arkansas Venture Center
The Arkansas Venture Center, in its mission, assists startups in achieving customer validation and reaching viability. It accomplishes this through systematic programming, leveraging best practices in Lean Methodology, and providing strategic acceleration with a focus on scaling and generating measurable economic impact. This premium mentorship program offers startups in various fields, including fintech, the tools and guidance necessary to launch and grow their businesses successfully.
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Impact
July, 2024
Arkansas Venture Center's impact can be seen in the success of startups they support in obtaining customer validation and reaching viability through systematic programming and premium mentorship. By leveraging best practices in lean methodology and strategic acceleration, the Venture Center aims to help these startups scale and create measurable economic impact. Their launch of a fintech accelerator demonstrates their commitment to assisting entrepreneurs in the fintech community to launch their companies. Located in Little Rock, Arkansas, the Venture Center is dedicated to improving the community by fostering innovation and entrepreneurship.
This information is meant to be a general summary of Arkansas Venture Center. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $78,192
- Program Service Revenue: $107,655
- Gross Receipts: $1,886,810
Assets and Liabilities:
- Total Assets: $3,645,178
- Total Liabilities: $355,235
- Net Assets: $3,289,943
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMUNITY PROGRAM
Revenue
$107,655
Organization Details
Founding Year
2013
Phone
(501) 404-9875Principal Officer
Arthur Orduna
Main Address
417 MAIN ST, LITTLE ROCK, AR, 72201
Website
www.venturecenter.coNTEE Category
Code: S30 - Community improvement
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