New Venture Fund
New Venture Fund reports hundreds of millions in revenue and expenses, with recent years showing expenses exceeding revenue and no direct officer compensation.
EIN: 205806345 · Washington, DC · NTEE: C05 · Updated: 2026-03-28
Is New Venture Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Venture Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Venture Fund
New Venture Fund (EIN: 205806345) is a nonprofit organization based in Washington, DC, classified under NTEE code C05. The organization reported total revenue of $664.3M and total assets of $624.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Venture Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Venture Fund is a major nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $669.1M |
| Total Expenses | $894.8M |
| Surplus / Deficit | $-225,751,267 |
| Total Assets | $768.5M |
| Total Liabilities | $141.2M |
| Net Assets | $627.3M |
| Operating Margin | -33.7% |
| Debt-to-Asset Ratio | 18.4% |
| Months of Reserves | 10.3 months |
Financial Health Grade: B
In 2023, New Venture Fund reported a deficit of $225.8M with expenses exceeding revenue, holds 10.3 months of operating reserves (strong position), has a debt-to-asset ratio of 18.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), New Venture Fund's revenue has grown at a compound annual growth rate (CAGR) of 27.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.4% | +8.5% | -25.9% |
| 2022 | -21.6% | +49.3% | -16.4% |
| 2021 | -1.2% | -16.1% | +50.7% |
| 2020 | +111.7% | +56.6% | +67.7% |
| 2019 | +13.7% | +12.8% | +16.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New Venture Fund with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, New Venture Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $225.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 18.4%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings for an organization with hundreds of millions in revenue is highly unusual and suggests that executive compensation is either paid through a related entity, as contractor fees, or is not directly reported in this section of the 990, requiring deeper scrutiny to understand the true cost of leadership.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of New Venture Fund's IRS 990 filings:
- Consistent 0% officer compensation reported on 990s for a large organization, suggesting compensation may be obscured or paid through related entities.
- Recent trend of expenses significantly exceeding revenue (e.g., 2023 expenses $894M vs. revenue $669M), potentially indicating reliance on reserves or unsustainable spending.
- Significant fluctuations in revenue and expenses year-over-year, which could indicate project-based funding with less predictable income streams.
Strengths
The following positive indicators were identified for New Venture Fund:
- Substantial and growing asset base, reaching over $1.2 billion in 2021 and $768 million in 2023, indicating strong financial capacity.
- Consistent history of filing IRS Form 990s, demonstrating a commitment to regulatory transparency.
- Ability to manage and deploy hundreds of millions of dollars annually, suggesting significant operational capacity and impact potential.
Frequently Asked Questions about New Venture Fund
Is New Venture Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, New Venture Fund (EIN: 205806345) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does New Venture Fund spend its money?
New Venture Fund directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Venture Fund tax-deductible?
New Venture Fund is registered as a tax-exempt nonprofit (EIN: 205806345). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is New Venture Fund a good charity?
New Venture Fund operates on a very large scale, managing hundreds of millions in revenue and expenses. Its financial health appears robust with substantial assets, though recent years show expenses exceeding revenue. The lack of reported officer compensation on the 990 is a significant point of inquiry for assessing overall efficiency and transparency.
How does New Venture Fund manage its executive compensation given the 0% reported?
The 0% officer compensation reported on all 990 filings for an organization of this size is highly atypical. It suggests that executive compensation may be paid through a related management entity, as contractor payments, or is otherwise not disclosed in the standard officer compensation section, which impacts the transparency of its administrative costs.
What is the trend in New Venture Fund's financial health?
New Venture Fund has experienced significant growth in revenue and assets over the past decade. However, the most recent filings (2022 and 2023) show expenses exceeding revenue, indicating a potential draw on reserves or a shift in funding cycles. For example, in 2023, expenses were $894,839,728 against revenues of $669,088,461.
What is the purpose of New Venture Fund's large asset base?
With assets reaching over $1 billion in 2021 and remaining substantial at $768,495,421 in 2023, New Venture Fund maintains a significant financial cushion. This asset base likely supports its large-scale programmatic activities, provides stability for future projects, and may include endowments or restricted funds.
How efficient is New Venture Fund's spending?
Without detailed breakdowns of program, administrative, and fundraising expenses from the 990, a precise efficiency ratio is difficult to calculate. However, the scale of operations and the consistent 0% reported officer compensation suggest a unique operational model. Assuming a high proportion of expenses are programmatic, as is common for large grant-making or fiscally sponsored organizations, efficiency could be strong, but the lack of direct executive compensation transparency is a concern.
Filing History
IRS 990 filing history for New Venture Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Venture Fund's revenue has grown by 1731%, moving from $36.5M to $669.1M. Total assets increased by 2237% over the same period, from $32.9M to $768.5M. Total functional expenses rose by 3519.6%, from $24.7M to $894.8M. In its most recent filing year (2023), New Venture Fund reported a deficit of $225.8M, with expenses exceeding revenue. The organization holds $141.2M in liabilities against $768.5M in assets (debt-to-asset ratio: 18.4%), resulting in net assets of $627.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $669.1M | $894.8M | $768.5M | $141.2M | — | View 990 |
| 2022 | $755.6M | $825.0M | $1.0B | $141.4M | — | View 990 |
| 2021 | $963.8M | $552.5M | $1.2B | $121.9M | — | View 990 |
| 2020 | $975.5M | $658.9M | $822.9M | $109.6M | — | View 990 |
| 2019 | $460.8M | $420.9M | $490.8M | $83.4M | — | View 990 |
| 2018 | $405.3M | $373.0M | $422.6M | $51.1M | — | View 990 |
| 2017 | $358.9M | $329.8M | $383.4M | $44.2M | — | View 990 |
| 2016 | $357.6M | $264.5M | $364.3M | $42.5M | — | View 990 |
| 2015 | $318.4M | $214.4M | $264.5M | $34.4M | — | View 990 |
| 2014 | $179.4M | $134.5M | $143.4M | $17.6M | — | View 990 |
| 2013 | $112.9M | $75.0M | $85.3M | $4.4M | — | View 990 |
| 2012 | $52.5M | $39.6M | $44.3M | $1.3M | — | View 990 |
| 2011 | $36.5M | $24.7M | $32.9M | $2.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $669.1M, expenses of $894.8M, and assets of $768.5M (revenue -11.4% year-over-year).
- 2022: Revenue of $755.6M, expenses of $825.0M, and assets of $1.0B (revenue -21.6% year-over-year).
- 2021: Revenue of $963.8M, expenses of $552.5M, and assets of $1.2B (revenue -1.2% year-over-year).
- 2020: Revenue of $975.5M, expenses of $658.9M, and assets of $822.9M (revenue +111.7% year-over-year).
- 2019: Revenue of $460.8M, expenses of $420.9M, and assets of $490.8M (revenue +13.7% year-over-year).
- 2018: Revenue of $405.3M, expenses of $373.0M, and assets of $422.6M (revenue +12.9% year-over-year).
- 2017: Revenue of $358.9M, expenses of $329.8M, and assets of $383.4M (revenue +0.4% year-over-year).
- 2016: Revenue of $357.6M, expenses of $264.5M, and assets of $364.3M (revenue +12.3% year-over-year).
- 2015: Revenue of $318.4M, expenses of $214.4M, and assets of $264.5M (revenue +77.5% year-over-year).
- 2014: Revenue of $179.4M, expenses of $134.5M, and assets of $143.4M (revenue +58.9% year-over-year).
- 2013: Revenue of $112.9M, expenses of $75.0M, and assets of $85.3M (revenue +115.0% year-over-year).
- 2012: Revenue of $52.5M, expenses of $39.6M, and assets of $44.3M (revenue +43.7% year-over-year).
- 2011: Revenue of $36.5M, expenses of $24.7M, and assets of $32.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Venture Fund:
Data Sources and Methodology
This transparency report for New Venture Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.