VENTURE INC

EIN: 383024297 501(c)(3) Housing & Shelter

PONTIAC, MI

Total Revenue
$295,072
Total Expenses
$775,339
Total Assets
$2,395,371
Net Assets
$-1,532,243
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
MI
Principal Officer
SUSAN HARDING
Phone
2482092600
Tax Period
2023-01-01 to 2023-12-31

VENTURE INC, founded in 1991, is a small nonprofit in the Housing & Shelter sector that reported $295K in total revenue in fiscal year 2023. Revenue fell 37% from the prior year — a significant decline worth monitoring. Expenses of $775K exceeded revenue, resulting in a 163% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES TO THOSE INDIVIDUALS OR FAMILIES IN NEED. INCREASE THE AMOUNT OF AFFORDABLE HOUSING WITHIN OAKLAND AND LIVINGSTON COUNTIES.

Program Service Accomplishments

Program 1
Expenses: $636,139

TO INCREASE THE AMOUNT OF AFFORDABLE HOUSING WITHIN OAKLAND AND LIVINGSTON COUNTIES. DURING 2023, VENTURE CONTINUED ITS WORK IN THE GM MODERN HOUSING NEIGHBORHOOD AND UNITY PARK NEIGHBORHOOD BY DOING...

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TO INCREASE THE AMOUNT OF AFFORDABLE HOUSING WITHIN OAKLAND AND LIVINGSTON COUNTIES. DURING 2023, VENTURE CONTINUED ITS WORK IN THE GM MODERN HOUSING NEIGHBORHOOD AND UNITY PARK NEIGHBORHOOD BY DOING SOME OWNER OCCUPIED REHABILITATION WORK. VENTURE ALSO STARTED CONSTRUCTION OF ITS FIFTH HOUSE BUILD UTILIZING FUNDING FROM OAKLAND COUNTY IN PARTNERSHIP WITH THE OAKLAND SCHOOLS TECHNICAL CAMPUS IN PONTIAC.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $197,908
Program Service Revenue $0
Investment Income $32,615
Other Revenue $64,549
TOTAL REVENUE $295,072

Expense Breakdown

Grants Paid $0
Salaries & Benefits $109,345
Fundraising Expenses $0
Program Expenses $636,139
Other Expenses $665,994
TOTAL EXPENSES $775,339

Year-over-Year Comparison

2023 2022 Change
Revenue $295,072 $471,444 -0.4%
Expenses $775,339 $704,103 +0.1%
Net Income $-480,267 $-232,659 +1.1%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
6
Employees
1
Volunteers
N/A

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
3
$325,788
Total Directors
9
$325,788
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUSAN HARDING CHAIRPERSON 2.00
Officer Director
$0 $35,650 $180,010
BRAD MICHAUD PRESIDENT 12.00
Officer Director
$0 $13,012 $145,778
THOMAS KABEL SECRETARY 1.00
Director
$0 $0 $0
COLEMAN YOUKAM TRUSTEE 1.00
Director
$0 $0 $0
DARRIEN FRANKLIN TRUSTEE 1.00
Director
$0 $0 $0
HOLBERT MAXEY TRUSTEE 1.00
Director
$0 $0 $0
BRYAN KEILER TRUSTEE 1.00
Director
$0 $0 $0
TERRY WINTER TRUSTEE 1.00
Director
$0 $0 $0
DOUG WILLIAMS TREASURER 1.00
Officer Director
$0 $0 $0
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 No data No data No data No data
2023 $295,072 $775,339 $2,395,371 $-480,267
2022 $471,444 $704,103 $351,748 $-232,659
2021 $338,941 $467,902 $533,526 $-128,961
2020 $825,324 $738,083 $2,260,718 $87,241
2019 $653,628 $1,067,246 $2,140,803 $-413,618
2018 $124,317 $387,883 $2,164,858 $-263,566
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