VENTURE NORTH FUNDING AND DEVELOPMENT (EIN 382857500) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

LAURA GALBRAITH

Phone

2319957115

Tax Period

2024-01-01 to 2024-12-31

VENTURE NORTH FUNDING AND DEVELOPMENT, founded in 1989, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $1.0M left a modest 13% surplus.

Mission

TO FACILITATE ECONOMIC DEVELOPMENT IN THE NORTHWEST MICHIGAN REGION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $734,477

Program Service Revenue $404,292

Investment Income $39,791

Other Revenue $0

TOTAL REVENUE $1,178,560

Expense Breakdown

Grants Paid $83,943

Salaries & Benefits $370,792

Fundraising Expenses $0

Program Expenses $940,843

Other Expenses $571,381

TOTAL EXPENSES $1,026,116

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,178,560	$987,877	+0.2%
Expenses	$1,026,116	$1,023,065	+0.0%
Net Income	$152,444	$-35,188	-5.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$144,555

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG WEST	DIRECTOR	1.00	Director	$0	$0	$0
LOUISE WENZEL	DIRECTOR	1.00	Director	$0	$0	$0
SAKURA TAKANO	DIRECTOR	1.00	Director	$0	$0	$0
SKIP SIMMS	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS HACKBARTH	DIRECTOR	1.00	Director	$0	$0	$0
ERIC GUSTAD	DIRECTOR	1.00	Director	$0	$0	$0
ANDY COLE	DIRECTOR	1.00	Director	$0	$0	$0
MARY CLULO	DIRECTOR	1.00	Director	$0	$0	$0
WARREN CALL	DIRECTOR	1.00	Director	$0	$0	$0
BILL BYRNE	TREASURER	1.00	Officer Director	$0	$0	$0
LAURA TRUDEAU	SECRETARY	1.00	Officer Director	$0	$0	$0
CARLA GRIBBS	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
LAURA REZNICH	CHAIR	1.00	Officer Director	$0	$0	$0
LAURA GALBRAITH	PRESIDENT	60.00	Officer	$144,000	$555	$144,555

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,178,560	$1,026,116	$7,638,410	$152,444
2023	$987,877	$1,023,065	$7,381,749	$-35,188
2022	$1,193,048	$800,546	$6,846,913	$392,502
2021	$1,349,702	$1,249,564	$6,401,052	$100,138
2020	$971,490	$1,276,670	$6,326,209	$-305,180
2019	$520,515	$727,808	$6,216,596	$-207,293
2018	$752,492	$417,112	$6,417,946	$335,380

VENTURE NORTH FUNDING AND DEVELOPMENT