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Az Venture Capital Inc

EIN 88-2595973 · Phoenix, AZ

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak30 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It owes more than it owns.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE ARIZONA VENTURE DEVELOPMENT CORPORATION (AVC) IS A NONPROFIT ORGANIZATION ESTABLISHED TO PROMOTE ACCESS TO EQUITY CAPITAL FOR UNDERREPRESENTED BUSINESSES, CATALYZE PRIVATE INVESTMENT, AND FUEL ECONOMIC GROWTH AND JOB CREATION IN ARIZONA.

Income
$1.1 million
Spending
$1.1 million
Spent on programs
85%
Reserves
-23.4 months of spending
Largest source of income
government grants, 96%
Employees
5
Volunteers
8
Highest pay
$304,988, president & ceo

Source: Form 990 for the year ending June 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 30 out of 100. Higher than 4% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    0 of 20

    It owes 123% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 4% of income.

  • Income trend

    0 of 15

    Income fell 86% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 57% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    18 of 25

    3 of 3 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $917,824 spent. AS OF JUNE 30, 2024, AVC HAS SUCCESSFULLY ALLOCATED $26.8 MILLION TO 21 INNOVATIVE PORTFOLIO COMPANIES, INCLUDING NINE PREVIOUSLY HIGHLIGHTED VENTURES. THESE STRATEGIC INVESTMENTS HAVE GENERATED A TOTAL OF $268.5 MILLION IN PRIVATE CAPITAL, REFLECTING A 2.28% GROWTH. THIS PROGRESS IS PROJECTED TO ENHANCE ARIZONA'S GDP BY 2.36%, REACHING AN ESTIMATED $670.5 MILLION.ADDITIONALLY, WE ANTICIPATE THE CREATION OF 1,073 HIGH-PAYING JOBS AND A PROJECTED 2.07% INCREASE IN TAX REVENUE, WHICH IS EXPECTED TO RISE TO $34.5 MILLION.AT AVC, OUR MISSION EXTENDS BEYOND FINANCIAL METRICS; WE ARE DEDICATED TO FOSTERING AN INCLUSIVE AND DIVERSE INVESTMENT ECOSYSTEM ACROSS ARIZONA. WE ARE PROUD TO REPORT THAT OVER 40% OF OUR FUNDING IS DIRECTED TOWARD BUSINESSES OWNED BY SOCIALLY AND ECONOMICALLY DISADVANTAGED INDIVIDUALS (SEDI). THROUGH THESE EFFORTS, WE ARE NOT JUST INVESTING IN COMPANIES; WE ARE INVESTING IN COMMUNITIES AND A BRIGHTER FUTURE FOR ALL ARIZONANS.

Source: Form 990 for the year ending June 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 2023.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.