Overview
What is The Venture Mentoring Team Inc?
The Venture Mentoring Team Inc, a nonprofit based in Pompano Beach, Florida, is dedicated to fostering the startup community. They achieve this by recruiting, vetting, and training mentors, ultimately connecting these skilled individuals with promising entrepreneurs. The goal is to assist startups in reaching their full potential. With a small team of two employees, The Venture Mentoring Team Inc plays a crucial role in nurturing and guiding the growth of innovative businesses.
Official website here: www.thevmt.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Venture Mentoring Team Inc has received a Three-Star rating from Charity Navigator, reflecting a solid score of 83%. This rating primarily focuses on the organization's Accountability & Finance, which accounts for the entirety of the score. The nonprofit has demonstrated strong financial practices, with a program expense ratio of 97.12% indicating that a significant majority of their funds are directed toward programs rather than administrative costs.
Strengths of The Venture Mentoring Team include having a fully independent board, with 100% of board members meeting the criteria, which is a positive indicator of governance. The organization has also shown transparency by listing its website on tax forms and having appropriate policies in place, such as a conflict of interest policy. However, there are areas for improvement, particularly the absence of a whistleblower policy and document retention guidelines, which were noted as missing in their assessment.
Overall, while The Venture Mentoring Team Inc exhibits strong financial accountability and a commitment to effective governance, addressing the missing policies could enhance its credibility and operational integrity further. The high program expense ratio reflects a dedication to its mission, making it a noteworthy option for potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is The Venture Mentoring Team Inc legitimate?
The Venture Mentoring Team Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Venture Mentoring Team 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $43,680
For more financial information, click here
Official website here: www.thevmt.org
What is the mission statement of The Venture Mentoring Team Inc?
The Venture Mentoring Team Inc, as a nonprofit organization, is dedicated to nurturing the startup community. They achieve this by training and credentialing mentors and subsequently connecting them with promising entrepreneurs. The objective is to empower these startups to reach their full potential, thereby fostering growth within the startup ecosystem. By recruiting, vetting, and training mentors, The Venture Mentoring Team Inc plays a crucial role in providing guidance and support to these up-and-coming companies.
Official website here: www.thevmt.org
Who is the CEO of The Venture Mentoring Team Inc?
Robert Nelson is the CEO of The Venture Mentoring Team Inc The CEO's salary of The Venture Mentoring Team Inc is $0 and their total compensation is $0.
Official website here: www.thevmt.org
What is the revenue of The Venture Mentoring Team Inc?
The Venture Mentoring Team Inc's revenue in 2023 was $127,210.
Official website here: www.thevmt.org
Who are the executives of The Venture Mentoring Team Inc and what are their salaries?
The average compensation at The Venture Mentoring Team Inc during 2023 was $43,680. There is 1 employee and 250 volunteers at The Venture Mentoring Team Inc.
Here are 3 key members and their salaries (The Venture Mentoring Team Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.thevmt.org
Where can I find the form 990 for The Venture Mentoring Team Inc?
The Venture Mentoring Team Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thevmt.org
Learn more at the official website: www.thevmt.org
Mission Statement of The Venture Mentoring Team Inc
The Venture Mentoring Team, a nonprofit educational organization, is committed to nurturing the startup community. Their mission lies in the training and credentialing of mentors, individuals with valuable expertise and experience. Once equipped, these mentors are then connected with promising entrepreneurs. The goal is to empower these startups, helping them to realize their full potential. By fostering this mentor-entrepreneur relationship, The Venture Mentoring Team plays a pivotal role in supporting the growth and success of new businesses within the startup community.
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Impact
October, 2024
The Venture Mentoring Team Inc significantly impacts the startup ecosystem by providing essential support to entrepreneurs through a structured mentoring program. By recruiting, vetting, and training experienced mentors, the organization ensures that startups receive tailored guidance from knowledgeable professionals. This synergy between mentors and entrepreneurs fosters innovation and enhances the chances of success for new ventures.
In connecting skilled mentors with ambitious startups, The Venture Mentoring Team Inc empowers entrepreneurs to navigate challenges, refine their business models, and tap into valuable networks. This collaborative environment not only bolsters individual startup growth but also strengthens the overall startup community in Pompano Beach, Florida, and beyond. As a result, the organization plays a crucial role in cultivating a vibrant entrepreneurial landscape that promotes community improvement and economic development.
This information is meant to be a general summary of The Venture Mentoring Team 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $4,755
- Program Service Revenue: $88,900
- Gross Receipts: $127,210
Assets and Liabilities:
- Total Assets: $263,986
- Total Liabilities: $0
- Net Assets: $263,986
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MENTOR TRAINING
Revenue
$88,900
Organization Details
Founding Year
2016
Principal Officer
Robert Nelson
Website
www.thevmt.orgNTEE Category
Code: S43 - Community improvement
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