Venture Richmond, Inc.
200 S. 3rd Street
Richmond VA 23219
Mission Statement
Venture Richmond engages business and community leaders in partnering with the City of Richmond, VA to enhance the vitality of the community, particularly Downtown, through economic development, marketing, promotion, advocacy and events.

Venture Richmond is leading the RVA Creates identity/branding initiative, working in partnership with the City, The Martin Agency, the VCU Brandcenter, J H I, Elevation, West Cary Group, The Hodges Partnership and the community. The RVA identity has been embraced by the community and reflects the pride Richmonders have in their community. 

Leadership
CEO/Executive Director Lisa Sims
Board Chair Mr. Brian K. Jackson
Board Chair Company Affiliation Hirschler Fleischer
Contact Information
Address 200 S. 3rd Street
Richmond, VA 23219
Telephone 804 7886466
Fax 804 788-6477
E-mail contactus@venturerichmond.com
History and Background
Year of Incorporation 1982
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
 
 
Projected Revenue $7,043,000.00
Projected Expenses $7,185,000.00
Additional Documents
Board Roster2014View
Statements
Mission
Venture Richmond engages business and community leaders in partnering with the City of Richmond, VA to enhance the vitality of the community, particularly Downtown, through economic development, marketing, promotion, advocacy and events.

Venture Richmond is leading the RVA Creates identity/branding initiative, working in partnership with the City, The Martin Agency, the VCU Brandcenter, J H I, Elevation, West Cary Group, The Hodges Partnership and the community. The RVA identity has been embraced by the community and reflects the pride Richmonders have in their community. 

Impact
Accomplishments:  
  1. Produce community events bringing more than 400,000 people to the City of Richmond
  2. Maintain sidewalk and street cleaning for the City, along with providing Downtown Ambassadors, both through the Clean and Safe Program
  3. Provide downtown beautification via a landscaping project along the Broad Street portion of the Downtown Arts District, partnering with Capital One and Lewis Ginter Botanical Garden.
  4. Serve as the leader for RVA Creates, the effort to bring greater pride and awareness to all Richmonders about the creative effort in RVA -- including the RVA "bumperstickers."  200,000+ have been distributed around the region, free of charge.
  5. Operate the Historic Riverfront Canal Cruises, bringing thousands of visitors to downtown each year.
  6. Provide management and maintenance for the Canal Walk and Brown's Island along the James River.
  7. Provide marketing for downtown including television and print advertising and maintenance of the downtown banner program.

 

 

 
Needs
Venture Richmond's needs are related to contributions for operating expenses, sponsors for events and volunteers for events and engagement.
Background
Venture Richmond is the organization resulting from the merger of four downtown organizations: CityCelebrations, Riverfront Development Corporation, Richmond Renaissance, and River District Alliance.  The boards of the four organizations merged the previous entities to become more efficient and effective.
Areas of Service
Areas Served
Area
Metro Richmond
Board Chair
Board Chair Mr. Brian K. Jackson
Company Affiliation Hirschler Fleischer
Term Feb 2017 to Feb 2019
Email bjackson@hf-law.com
Board of Directors
Board Members
NameAffiliation
Farhad Aghdami Williams Mullen
Ken Ampy Astyra
Robert Angle Troutman Sanders
Toni Ardabell Bon Secours Richmond Health System
Edward H. Baine Dominion Virginia Power
Stephen E. Baril Kaplan Voekler
John W. Bates III, Esq.McGuire Woods, LLP
Dana Bedden Richmond Public Schools
Jean Boone Richmond Free Press
Margaret Bowen Rank Group North America, Inc. - M & A Team
Victor Branch Bank of America
Thomas R. Brown Marsh & McLennan Agency, LLC
Aisha Bullard Bullard Law
Gerald Burr Jr.Canterbury Enterprises
Jonathan Coleman The New Y-Capp, Inc.
Matthew Cooper Capital One Financial
Ronald Crutcher University of Richmond
Sharon Dabney-Wooldridge The Klean Kare Team
Nico de Leon NXL
Susan Dewey VHDA
Mary Doswell Consultant
Peter Durette WestRock
Candace Formacek Universal Corporation
Moses Foster West Cary Group
Jerry Fox Cherry Bekaert LLP
Thomas Goode Wells Fargo Bank
Thomas E. Gottwald NewMarket Corporation
Richard Gregory Fountainhead Properties
Robert J. Grey Jr., Esq.Hunton & Williams
Kym Grinnage WWBT 12
Brenton S. Halsey James River Corporation
Adam Harrell Harrell & Chambliss
Monroe E. Harris Jr., DMDVirginia Oral & Facial Surgery
Bruce R. Hazelgrove IIINewMarket Corporation
Devon Henry Team Henry Enterprises
C.T. Hill Consultant
Connie Hom Buckingham Greenery
Mark Hourigan Hourigan Construction
Brian K. Jackson Hirschler Fleischer
Darius A. Johnson Dominion Enery
Kenneth S. Johnson Johnson, Inc.
Joseph Johnson Virginia Union University
Kenneth Jones Prestige Corporation
Michael Jones Richmond City Council
Bruce Kay Markel Corporation
C. Burke King Anthem Blue Cross Blue Shield
Jon King Exclusive Staffing
Justin Knight Apple REIT
Otto Konrad Williams Mullen
Michael Laming Genworth Financial
Charles Macfarlane Macfarlane Partners
Sal Mancuso Altria Group, Inc.
Blake Manners Ernst & Young
Geoff Marlatt Owens & Minor
Mark R. Merhige The Shockoe Company
David Mills K-Line America, Inc.
Ruma Mohta Atlas Branding & Communications
Jay Moore Hunton & Williams
Thomas Osgood Xenith Bank
Harold Parker Jr.Old Dominion Electrical Supply
Angela Patton Camp Diva
Burt Pinnock Baskervill
Dr. Michael Rao Virginia Commonwealth University
Dr. Gary L. Rhodes Reynolds Community College
Beth Rilee-Kelley The Martin Agency
John Rivers Cisco Systems
Doug Roth BB&T
Dr. Pamela Royal Royal Dermatology & Aesthetic
Lisa Ruggles CoStar Group
Kim Scheeler Greater Richmond Chamber of Commerce
Brian Shepard United Network for Organ Sharing
Thomas Silvestri Richmond Times Disptach
Bob Sledd Pinnacle Ventures
Dwight Snead Dwight Snead Construction
John Stallings SunTrust Bank
Ronald Stallings Walker Row Partnership
Jacquelyn E. Stone McGuire Woods, LLP
Levar Stoney Mayor, City of Richmond
James Theobald Hirschler Fleischer
Andrew Thornton LaDifference
Freda Thornton FWL & Sons, Inc.
Dr. Eugene Trani Virginia Commonwealth University
James E. Ukrop New Richmond Ventures
Edward Valentine Harris Williams
Massie Valentine Davenport & Co., LLC
Ned Valentine Harris Williams
Jason Vickers-Smith WVS Companies
Marilyn West M. H. West & Associates
Robert Westbrook KPMG
Brian White SWA Construction
Thomas Winfree Retired, Village Bank
Robert W. Woltz JrRetired, Verizon, Mid-Atlantic
Samuel Young Astyra
Michel Zajur Viginia Hispanic Chamber of Commerce
Board Demographics - Ethnicity
African American/Black 19
Asian American/Pacific Islander 2
Caucasian 34
Hispanic/Latino 2
Native American/American Indian 0
Board Demographics - Gender
Male 45
Female 12
Governance
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 9
Standing Committees
Executive
Finance
Marketing
Nominating
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Comments
MsMThe list included here, and the demographic information, pertains to the 57-member executive committee, which meets monthly.  However, the percentage of individual contributors is based upon our full board of 92 members.  The board meets twice per year.  Many of our board members/executive committee members, are from the non-profit, political, academic areas and are not necessarily expected to make contributions.  Likewise, many of our members are from corporations whose contributions do support the organization.
Executive Director
Executive Director Lisa Sims
Senior Staff
NameTitle
Mrs. Lisa W. Sims Deputy Director
Mr. James L. Watkins Deputy Executive Director
Plans
Organization has a Strategic Plan?
Whistleblower Policy Yes
Directors and Officers Insurance Policy Yes
Programs
Description
Fiscal Year
Projected Revenue $7,043,000.00
Projected Expenses $7,185,000.00
Endowment Value $0.00
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
------
Government Contributions$1,190,000$1,190,900$1,190,248
Federal------
State------
Local$1,190,000$1,190,900$1,190,248
Unspecified------
Individual Contributions$501,220$721,096$578,230
------
$4,113,116$3,769,772$4,089,441
Investment Income, Net of Losses$599$856$1,238
Membership Dues------
Special Events------
Revenue In-Kind------
Other------
Expense Allocation
Fiscal Year201520142013
Program Expense$5,403,092$5,038,296$6,335,968
Administration Expense$493,243$395,591$480,002
Fundraising Expense$52,244$51,502$50,248
Payments to Affiliates------
Total Revenue/Total Expenses0.981.040.85
Program Expense/Total Expenses91%92%92%
Fundraising Expense/Contributed Revenue3%3%3%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$5,976,689$6,180,625$6,099,432
Current Assets$2,650,255$2,709,574$3,082,547
Long-Term Liabilities$0----
Current Liabilities$57,529$117,821$233,863
Total Net Assets$5,919,160$6,062,804$5,865,569
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities46.0723.0013.18
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit 5/2014View
Comments
Organization Comments 2012 results included a $3.6 million gift of land from NewMarket Corporation that Venture Richmond plans to develop into an amphitheater venue for the Richmond Folk Festival. Funds will need to be raised to improve this riverfront property for public use.  The 2012 results also included a gift of canal boats at a value of $300,000
Foundation Comments
  • Form 990 and audit prepared by Elliott Davis, LLC, PLLC
  • Financial information provided by audit