Overview
What is Community Ventures Corporation?
Community Ventures Corporation (CVC) is a nonprofit organization based in Lexington, Kentucky, with a mission to help individuals and families achieve financial independence. CVC provides assistance through three main strategies: small business ownership, home ownership, and job creation through business expansion. CVC offers lending assistance to low-income individuals seeking first-time home ownership and low-income business owners. Their lending programs provide advantages such as low down payments, fixed interest rates, long terms, low interest rates, and the ability to finance loan fees in the loan. CVC's initiatives include partnerships with programs like the Department of Treasury's Community Development Financial Institutions Funds and the Community Housing Development Organization to strengthen and expand community development for low-income individuals.
Official website here: www.cvky.org
Is Community Ventures Corporation legitimate?
Community Ventures Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Ventures Corporation 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.
Here are some key statistics you may want to consider:
Executive Compensation: $2,030,838
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,021,677
For more financial information, click here
Official website here: www.cvky.org
What is the mission statement of Community Ventures Corporation?
The Community Ventures Corporation (CVC) is dedicated to helping individuals and families attain financial independence. CVC achieves this goal through three primary strategies: small business ownership, home ownership, and job creation through business expansion. The organization's mission is to provide the necessary skills, income, and assets for people to achieve financial stability. CVC offers unique lending programs with benefits such as low down payments, fixed interest rates, long terms, low interest rates, and the option to finance loan fees within the loan. Examples of CVC's initiatives to facilitate lending assistance include the Department of Treasury's Community Development Financial Institutions Funds and the Community Housing Development Organization (CHDO), which represents funds provided by a community-based service organization for the development of affordable housing for the community it serves.
Official website here: www.cvky.org
Who is the CEO of Community Ventures Corporation?
Kevin Smith is the Chairman of Community Ventures Corporation. The CEO's salary of Community Ventures Corporation is $239,533 and their total compensation is $307,722.
Official website here: www.cvky.org
What is the revenue of Community Ventures Corporation?
Community Ventures Corporation's revenue in 2022 was $14,011,669.
Official website here: www.cvky.org
Who are the executives of Community Ventures Corporation and what are their salaries?
The average compensation at Community Ventures Corporation during 2022 was $62,346. There are 65 employees at Community Ventures Corporation.
Here are 31 key members and their salaries (Community Ventures Corporation's CEO's salary is $239,533 and their total compensation is $307,722):
- Kevin Smith (President & Ceo)
- Brenda Weaver (President Housing)
- Milton Sharp (President - Ehome)
- Shirie Hawkins (Pres Everything Equity)
- Wiley Faw (Chief Operating Offi)
- Brian Hutchinson (Chief Dev. Officer)
- Shane Darrisaw (President Mpact Pro)
- Daniel Heffernan (President Nmtc)
- Michael Berryman (Vp E Home)
- Marita Willis (Pres. Community Engagement)
- Phillip Cave (Controller)
- Lynn Littrel (Senior Vp Commerial Lending)
- Otis Singleton (Director Of Finance)
- Jonah Brown (President Marketing)
- Thomas Murro (President Chef Space)
- Robert Burns (Pres Mstrd Seed Hill)
- Mark Johnson (President Of Art Inc)
- John Watz (Chairman) [Trustee/Director]
- Reverend Fred Mitchell (Secretary) [Trustee/Director]
- Robert Henry (Director)
- Arthur Salomon (Director)
- Larry Johnson (Director)
- Jerry Johnston (Director)
- Jojuana Leavell-Greene (Vice Chairwoman) [Trustee/Director]
- John Douglas (Director)
- Jeff Koonce (Director)
- Raymond Daniels (Director)
- Charles Duke (Director)
- Deborah Williams (Director)
- Artie Ford (Director)
- Lorrain Smoot (Director)
Official website here: www.cvky.org
Where can I find the form 990 for Community Ventures Corporation?
The Community Ventures Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.cvky.org
Learn more at the official website: www.cvky.org
Mission Statement of Community Ventures Corporation
Community Ventures Corporation, or CVC, is a mission-driven organization dedicated to helping individuals and families achieve financial independence. By providing them with essential skills, income, and assets, CVC empowers people to break free from financial constraints. The organization implements three primary strategies to realize this goal: small business ownership, home ownership, and job creation through business expansion.
Through its lending programs, CVC offers valuable assistance to low-income individuals pursuing their first time home ownership and to small business owners. Compared to conventional financing, CVC's lending programs offer several advantages. These include low down payments, fixed interest rates, long terms, low interest rates, and the ability to finance loan fees within the loan itself. Two programs that facilitate this lending assistance are the Department of Treasury's Community Development Financial Institutions Funds and the Community Housing Development Organization (CHDO). The former strengthens and expands community development opportunities for low-income individuals, while the latter represents funds provided by a community-based service organization with significant capacity to develop affordable housing for the community it serves. By offering these lending assistance programs, CVC plays a crucial role in fostering financial stability and independence for those it serves.
Impact
This information is meant to be a general summary of Community Ventures Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Community Ventures Corporation has a significant impact on individuals and families by providing them with the skills, income, and assets necessary to achieve financial independence. Through its focus on small business ownership, home ownership, and job creation through business expansion, CVC empowers low-income individuals to increase their income and build assets. Its lending assistance programs with advantages such as low down payments, fixed interest rates, long terms, and low interest rates make it easier for individuals seeking first-time home ownership and low-income business owners to access financial support. Through programs like the Department of Treasury's Community Development Financial Institutions Funds and the Community Housing Development Organization, CVC strengthens and expands community development opportunities for those in need. Overall, CVC's work plays a crucial role in fostering community improvement and helping individuals pave their way to financial stability.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES
Revenue
$3,328,260
INTEREST INCOME ON LOANS
Revenue
$1,795,445
504 FEE INCOME
Revenue
$377,465
PROGRAM INCOME
Revenue
$153,948
BAD DEBT RECOVER
Revenue
$52,229
Organization Details
Founding Year
1982
Phone
(859) 231-0054
Principal Officer
Kevin Smith
Main Address
1450 N BROADWAY, LEXINGTON, KY, 405053162
Website
www.cvky.org
NTEE Category
Code: S99Z - Community improvement
If you are a representative of Community Ventures Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.