2025-05-12T12:45:58-07:00 2024-12-31 990 2024-01-01 510252306 VENTURE CENTRAL INC VENT 4342330676 300 Preston Ave Suite 206 Charlottesville VA 22902 Chris Engel Treasurer 4349703111 2025-05-14 1 2024 2025-03-06 01:10:19Z Rebecca Haydock 300 Preston Ave Suite 206 Charlottesville VA 22902 797425 0 X https://venturecentralva.com X 1979 VA Venture Central's mission is to serve and strengthen the Central Virginia entrepreneurial community by building and bridging connections, programs, funding, and spaces. 7 7 16 0 0 0 474426 797400 3878 0 0 0 0 25 478304 797425 40000 0 0 0 73695 443170 0 0 0 309906 172542 423601 615712 54703 181713 168658 318140 70573 38342 98085 279798 Venture Central's mission is to serve and strengthen the Central Virginia entrepreneurial community by building and bridging connections, programs, funding, and spaces. We collaborate with regional entrepreneurs and business support partners for the advancement of the entrepreneurial ecosystem in Central Virginia. 0 0 231284 0 232102 U.S. Economic Development Administration Build to Scale Capital Connection grant: In 2024 Venture Central advanced the work under the U.S. EDA grant titled Diversify-Connect-Fund (DCF). The project was designed to support the Central Virginia entrepreneurial ecosystem in three ways: (1) establishing a series of angel investor training programs to encourage new investors to participate in funding local startups, (2) building connections between local startups who need venture capital funding and the sources of such funding, and (3) exploring an investment fund strategy to assist startups in raising funds. 2024 deliverables for the program were met with the grant ending October 31, 2024. Events were conducted to drive investor engagement and education, startups were connected to funders, local startups recorded over $112,000,000 in funding, and fund strategies were evaluated. Ten investor education events and twelve networking events were held, resulting in greater participation in local angel networks and access to capital by startups. The activities under the grant engaged more and more diverse participants to support regional businesses - from businesses operating locally to those scaling internationally. 244638 0 300000 Venture Central is host to the 434 Accelerator, which partners with and contributes to the Charlottesville community's unique network of resources to not only accelerate a select set of high-potential, technology-driven startups, but also to catalyze a more resilient, mindful, inclusive, and kinetic entrepreneurial ecosystem. 434 served 6 companies through its accelerator programs in 2024 and hosted 5 more in its co-working space. 434 hosted 21 Fellows (interns) in its accelerator companies in 2024, held an 8-week educational session on scaling a tech company, and hosted two startup showcase events, in addition to its weekly founder sessions and monthly programming. 115298 0 115298 GoVA REI (Regional Entrepreneurship Initiative) for Region 9: Counties of Albemarle, Culpeper, Fauquier, Fluvanna, Louisa, Madison, Nelson and Orange, the city of Charlottesville and the town of Culpeper. The Community Investment Collaborative (CIC), in partnership with Venture Central developed a regional strategy to strengthen and grow the GO Virginia Region 9 entrepreneurial ecosystem. The project engaged a broad range of stakeholders in the region, inventoried available resources and small business funding sources, and developed actionable strategies to increase the rate of new business formation and improve survival rates for early-stage businesses in urban and rural areas. 2023 saw the kickoff of the Go Virginia REI grant. Venture Central and CIC hired a consultant (The Good People Research Company) and a Program Manager to facilitate the grant work. Work completed included planning the project, setting objectives, defining communities, identifying stakeholders, researching best practices, and started community conversations with entrepreneurs, ESOs, Chambers of Commerce, and local government representatives. The REI Report "Thrive In Place" was finalized in October of 2024. Work continues into 2025 to develop an action plan and subsequent implementation project proposal. 101 0 0 Other Programs 101 0 0 591321 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 1 16 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X Rebecca Haydock 4342330676 300 Preston Ave Suite 206 Charlottesville VA 22902 X David Touve 434 Managing Director 40 0 X X 152520 0 0 Sarah Rumbaugh Chair 1 0 X X 0 0 0 Charlie Rogers Vice Chair 1 0 X X 0 0 0 Chris Engel Treasurer 1 0 X X 0 0 0 Don Long Director 1 0 X 0 0 0 Pyam Pourtaheri Director 1 0 X 0 0 0 Emily Kilroy Director 1 0 X 0 0 0 Timothy Harvey Director 1 0 X 0 0 0 152520 0 0 1 0 1 0 0 0 0 0 0 647400 150000 0 797400 0 0 0 0 0 0 25 25 0 0 25 797425 25 0 0 X 0 0 0 0 0 0 0 0 152520 152520 0 0 0 0 0 246792 246792 2620 2620 41238 40136 1102 68211 53210 15001 0 150 150 1812 1812 42774 42774 21400 21400 12293 12021 272 4860 745 4115 5000 5000 7251 6096 1155 3649 3649 Food 3377 3292 85 0 Program Supplies 1066 1066 0 0 699 699 615712 591321 24391 0 80620 184018 88038 134122 168658 318140 70573 38342 70573 38342 X 0 0 0 0 98085 279798 98085 279798 168658 318140 181713 0 0 0 0 0 X 0 0 0 X 0 0 211538 474426 797400 1483364 0 0 211538 474426 797400 1483364 195244 1288120 25 25 555 555 1483944 3878 0.86804 0.91144 X Schedule A, Part II, Line 10 Refund from Albemarle County grant expense in 2022. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 0 0 0 0 0 0 0 David Touve 434 Managing Director 152520 0 0 0 0 0 0 0 0 0 152520 0 0 0 Form 990, Part VI, Section B, Line 11b Form 990 was prepared by the organization's Bookkeeping & Compliance Manager, reviewed by leadership, presented to the Board, and signed and filed by the Treasurer. Form 990, Part VI, Section B, Line 12c Venture Central shares the conflict of interest policy with directors and officers of the organization and conducts periodic compliance reviews of its compensation arrangements, benefits, partnerships, joint ventures and arrangements, as required by the policy. Form 990, Part VI, Section C, Line 19 Governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part IX, Line 11g Contracted Program Director - $10,500, Multimedia Web Design and Event AV - $18,749, Event Production Contractors - $26,025