Together, we can do even more.
Charitable Donations to Venture North Funding & Development
The Selfless Art of Giving
Philanthropy is often defined as the selfless giving of time, treasures and talent to a worthy cause.
Venture North is fortunate to have a growing number of philanthropists, people and organizations that are practitioners of philanthropy, supporting the mission of the organization.
Venture North also offers one of the few ways that individuals and organizations can exercise their charitable intent to support economic development in Venture North’s 10-county northwest Michigan region and our many rural communities.
WHY GIVE TO VENTURE NORTH?
Venture North offers flexible financing to help small businesses grow and make northwest Michigan’s communities stronger. We also offer Business Development Services, including support for business planning and financial forecasting; helping businesses find additional sources of financial support, including grants; and serving as a “connector” of businesses to all kinds of resources, including those involved with technology solutions, employee recruitment, marketing and more.
While we realize investment income, we also sacrifice that income with lending terms that are customized to support the dual purpose of business and community success.
Helping Those Who Need Support Most
Our focus is small businesses, including start-ups. As a certified Community Development Financial Institution (CDFI), we focus on lending capital and providing Business Support Services to businesses located in economically distressed communities that are often capital “deserts.” We also seek to finance businesses owned by underserved populations.
Historically, support services for small businesses, our economic bread and butter, have often missed the mark with one-size-fits-all solutions that went nowhere. We work at ground level to listen and understand communities and small businesses so our services do not miss the mark.
There are more business start ups and entrepreneurial activity than any other time in U.S. history.
We need to step up to this challenge with all the resources we have. We also need to step up by meeting entrepreneurs where they are – often in their business in communities throughout northwest Michigan. We need funding to support our response and pledge to listen and understand the needs of small businesses and then to respond, not react, with resources aimed to help them succeed.
Does this take time? Absolutely. But it is essential if we are to attain our mission.
Leverage Your Contributions
We take pride in sustaining and building partnerships so that everyone can legitimately “win.” We typically secure about $6 for every $1 we receive. And we believe we can do better by telling the stories of our customers – our bottom line.
Possible Tax Benefits
Many people and organizations may not know that Venture North is approved by the U.S. Internal Revenue Service (IRS) as a tax exempt charitable nonprofit under Section 501 (c)(3) of the IRS Code . While any donating individual or organization will want to consult with their financial advisor, we respond to each donation with a letter that documents the size and purpose of your organization so donors can work with their advisors to establish the taxable benefit.
There was an incredible outpouring of philanthropy to financially support aid to small businesses with nine employees or less when we administered the Regional Resiliency Program (RRP). Through the RRP, we worked with local partners, including a network of community foundations to award 302 grants in less than one year amount of over $1,000,000 – all donated or granted to Venture North.
In addition, organizations and individuals have also contributed to Venture North for a variety of purposes all related to our mission of providing loan capital with flexible terms and Business Support Services. Those organizations included:
Time and Talent Through Governance
We are fortunate to have a Board of Directors that is available to share their time and talent when needed. This is particularly true at Board meetings or at Board committee meetings where they give their time to govern Venture North and share a wide variety of leadership perspectives and experiences such as:
Marsha Smith, former Executive Director, Rotary Charities of Traverse City
Carolyn Bloodworth, Consumers Energy Foundation
Doug Deyoung, Consumers Energy Company
Debby Kasemayer, Northern Trust Bank
Joan Moore, Executive Director, Leelanau Township Community Foundation
Regional Resiliency Program – Local Team Volunteers