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Venture Richmond Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 521256458 ✦ Richmond, VA ✦ Designated as a 501(c)(3)

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Overview

What is Venture Richmond Inc?

Venture Richmond Inc, situated at 200 South Third Street in Richmond, Virginia, serves as a catalyst for community growth and vitality, primarily focusing on the downtown area. With a team of 36 individuals, the organization works closely with business and community leaders to drive economic development, marketing, promotion, advocacy, and events. One of their major initiatives is overseeing, planning, producing, marketing, and securing sponsorship for the annual Richmond Folk Festival. This event, held in downtown Richmond, generates revenue through support from service districts, a city arts and culture grant, and contributions. Venture Richmond Inc's primary mission is to promote and enhance the appeal of Richmond, providing resources that contribute to the city's overall prosperity.


Official website here: www.venturerichmond.com

What are the reviews and ratings of this charity?

Charity Navigator Rating: 96% (Four-Star out of Four Star rating)

Venture Richmond Inc has achieved an impressive 96% rating from Charity Navigator, signifying strong accountability and financial health. The high score reflects a commitment to transparency and effective management, as evidenced by their perfect score in several governance metrics, including a fully independent board and robust oversight measures.

The organization demonstrates effective use of its resources, with a program expense ratio of 95.33%, indicating that a significant majority of its funds are directed towards its programs. The absence of material diversion of assets further reinforces its reliability and trustworthiness in financial practices.

While the rating highlights many strengths, the summary does not indicate specific program impacts or community feedback, which could provide a more holistic view of the organization's effectiveness and reach. Nonetheless, the financial transparency and governance structure position Venture Richmond Inc as a credible nonprofit committed to its mission.


This AI summary has been generated from information found on Charity Navigator.

Is Venture Richmond Inc legitimate?

Venture Richmond Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Venture Richmond Inc 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.


Heare are some key statistics you may want to consider:

Executive Compensation: $947,784
Professional Fundraising Fees: $0
Other Salaries and Wages: $248,488

For more financial information, click here


Official website here: www.venturerichmond.com

What is the mission statement of Venture Richmond Inc?

Venture Richmond Inc's mission is to engage business and community leaders in collaborating with the city to enhance the vitality of their community, with a focus on economic development, marketing, promotion, advocacy, and events. Particularly, they aim to improve the downtown area. They achieve this by partnering with the city to organize events, such as the Richmond Folk Festival, which they oversee, plan, produce, market, and secure sponsorships for. They receive support for this event from service districts, city arts and culture grants, and contributions.


Official website here: www.venturerichmond.com

Who is the CEO of Venture Richmond Inc?

Lisa W Sims is the Chairman of Venture Richmond Inc. The CEO's salary of Venture Richmond Inc is $212,598 and their total compensation is $244,136.


Official website here: www.venturerichmond.com

What is the revenue of Venture Richmond Inc?

Venture Richmond Inc's revenue in 2022 was $6,480,752.


Official website here: www.venturerichmond.com

Who are the executives of Venture Richmond Inc and what are their salaries?

The average compensation at Venture Richmond Inc during 2022 was $33,230. There are 36 employees and 1200 volunteers at Venture Richmond Inc.


Here are 70 key members and their salaries (Venture Richmond Inc's CEO's salary is $212,598 and their total compensation is $244,136):


Darius Johnson (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Farhad Aghdami (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Levar M Stoney (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Devon Henry (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Paula Pando (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Adam Harrell (Past Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Brian Jackson (General Counsel)
  • Compensation: $0
  • Related: $0
  • Other: $0
Makola Abdullah (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Neil Amin (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ken Ampy (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Baker (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Edward H Baine (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Becky Bareford (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Bates (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Victor Branch (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Gerald Burr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kelly Chopus (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sharon Dabney-Wooldridge (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Christine G Daniels (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Joi Dean (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Susan Dewey (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Carmina Drummond (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Candace C Formacek (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Moses Foster (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Thomas Gayner (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Thomas E Gottwald (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Douglas Granger (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rick Gergory (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kym Grinnage (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kevin Hallock (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Monroe E Harris Jr Dmd (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Bruce R Hazelgrove Iii (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ct Hill (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Connie Hom (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Hourigan (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chris Johnson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kenneth S Johnson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rob Jones (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason Kamras (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Greg Karawan (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Hakim Lucas (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Will Luckert (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Manson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Merhige (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Floyd Miller (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Cynthia Newbille (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sean O'Brien (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Leslie Parpart (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Burt Pinnock (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Rao (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeff Ricketts (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ellen Robertson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Pamela Royal (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lisa Ruggles (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jacquelyn E Stone (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dr Eugene Trani (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chris Tsui (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
James E Ukrop (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ted Ukrop (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Massie Valentine (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ned Valentine (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Marilyn West (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert Woltz (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Samuel Young (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lisa Sims (Ceo)
  • Compensation: $212,598
  • Related: $0
  • Other: $31,538
Lucy Meade (Director Of Economic Devel)
  • Compensation: $145,712
  • Related: $0
  • Other: $18,165
Anedra Bourne (Deputy Executive Director)
  • Compensation: $155,530
  • Related: $0
  • Other: $4,666
Max Hepp-Buchanan (Director Of Riverfront & D)
  • Compensation: $114,173
  • Related: $0
  • Other: $24,818
Stephen R Lecky (Director Of Events)
  • Compensation: $114,767
  • Related: $0
  • Other: $3,443
Carol L Walls (Finance Manager)
  • Compensation: $104,578
  • Related: $0
  • Other: $17,796


Official website here: www.venturerichmond.com

Where can I find the form 990 for Venture Richmond Inc?

Venture Richmond Inc's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.venturerichmond.com

Learn more at the official website: www.venturerichmond.com

Mission Statement of Venture Richmond Inc

Venture Richmond Inc, a nonprofit organization, is committed to engaging business and community leaders in collaborating with the city to enhance the vitality of their community, with a particular focus on downtown areas. They achieve this mission through economic development, marketing, promotion, advocacy, and events. Venture Richmond Inc acts as a catalyst, leveraging resources to promote downtown Richmond, Virginia.

In practice, Venture Richmond Inc plays a significant role in overseeing, planning, producing, marketing, and securing sponsorships for events such as the Richmond Folk Festival, which takes place in downtown Richmond. The festival is a key initiative for Venture Richmond Inc, attracting support from various sources, including Service Districts ($200,000), a grant from the City Arts & Culture ($166,000), and contributions ($109,625). By organizing such events, Venture Richmond Inc contributes to the vibrancy and appeal of the downtown area, thereby supporting the overall mission of enhancing the community's vitality.

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Impact



July, 2024

Venture Richmond Inc, through its activities in promoting downtown Richmond, Virginia, has a significant impact on the community. One notable initiative overseen by Venture Richmond is the Richmond Folk Festival, an event that brings together diverse communities through music and culture. The revenue generated from this event, including support from service districts, grants, and contributions, contributes to the economic development and vitality of downtown Richmond. By engaging business and community leaders in partnership with the city, Venture Richmond plays a key role in enhancing the community through economic development, marketing, promotion, advocacy, and events. This ultimately leads to improved community improvement and a more vibrant downtown area.



This information is meant to be a general summary of Venture Richmond Inc. 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.

Revenue
$6,480,752 (2022)
Expenses
$6,420,670 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $184
  • Program Service Revenue: $4,587,365
  • Gross Receipts: $6,480,752

Assets and Liabilities:

  • Total Assets: $7,214,267
  • Total Liabilities: $244,491
  • Net Assets: $6,969,776

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

PROGRAMS AND EVENTS

Revenue

$2,350,660

PROPERTY OWNER ASSESSM

Revenue

$2,236,705

Organization Details

Founding Year

1984

Phone

(804) 788-6470

Principal Officer

Lisa W Sims

Main Address

200 SOUTH THRID STREET, RICHMOND, VA, 23219

Website

www.venturerichmond.com

NTEE Category

Code: S31 - Community improvement

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