Better Business Bureau Report for
New Visions, New Ventures, Inc.

Better Business Bureau Report issued September 2010
Better Business Bureau Report expires September 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: New Visions, New Ventures, Inc.
Address: 701 E. Franklin Street
Suite 712
  Richmond, VA 23219
Phone: 804-643-1081
Web Address: www.nvnv.org
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Better Business Bureau Comments

Year, State Incorporated: 1998, Virginia
Affiliates:None

Stated Purpose: To provide women with the knowledge, skills, resources and confidence necessary to achieve economic success through financial education and entrepreneurship.

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Evaluation Conclusions

               

New Visions, New Ventures, Inc. meets the 20 Standards for Charity Accountability.
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Programs

               

New Visions, New Ventures (NVNV) offers programs that foster small business development, job creation and financial literacy. Specifically, through its Women's Business Center, NVNV assists entrepreneurs who are starting or expanding small businesses. Services include business training, individual business counseling, access to capital, and networking. Additionally, through its Center for Asset Development, NVNV provides financial management training and counseling as well as matched-savings accounts that allow participants to save for a small business, postsecondary education or homeownership.

For the fiscal year ended June 30, 2009, New Visions, New Ventures, Inc.'s program expenses were:

  
Wom. Econ. Sufficiency 579,477
Total Program Expenses: $579,477
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Governance

               

Chief Executive : Dr. Ann Parker Maust, President/CEO and Founder
Compensation*:
 $45,000

Chair of the Board: Carrie Freed
Chair's Profession / Business Affiliation:

Board Size: 10

Paid Staff Size: 10

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

telephone, invitations to fund raising events, grant proposals, cause-related marketing
Fund raising costs were 1% of related contributions. (Related contributions, which totaled $564,209, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on New Visions, New Ventures, Inc.'s audited financial statements for the fiscal year ended June 30, 2009.

Source of Funds  
Grants 414,088
Contributions-InKind 118,803
Program Income 53,850
Contributions 31,318
Miscellaneous Income 4,356
Total Income $622,415


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Uses of Funds as a % of Total Expenses

Programs: 87%  Fund Raising: 1%  Administrative: 12% 

Total income   $622,415
  Program expenses $579,477
  Fund raising expenses 7,650
  Administrative expenses 79,231
 
Total expenses   $666,358
Expenses in Excess of Income   (43,943)
Beginning net assets   308,083
Ending net assets   264,140
Total liabilities   61,589
Total assets   $325,729


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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