Nonprofit · EIN 71-0875890
RECOVERY VENTURES CORPORATION
Tax-exempt · BLACK MTN, NC 28711
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $1,997,728 | $1,923,854 | $73,874 | $3,297,107 | $20,165 | $3,276,942 |
| March 31, 2024 | 990 | $2,158,335 | $2,004,908 | $153,427 | $3,215,382 | $12,001 | $3,203,381 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $609,202
- of which government grants
- $218,370
- Program service revenue
- $1,326,973
- Investment income
- $5,081
- Net gain from sales of assets
- -$1,387
- Net income from sales of inventory
- $16,799
- Other revenue
- $56,472
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $236,761
- Other salaries and wages
- $343,946
- Salaries, compensation and benefits (total)
- $812,531
- Professional fundraising fees
- $0
- Accounting fees
- $6,146
- Occupancy
- $215,810
- Depreciation
- $110,117
- Program services (functional)
- $1,703,640
- Management and general (functional)
- $220,214
Balance sheet and other
- Total assets, start of year
- $3,215,382
- Total assets, end of year
- $3,297,107
- Total liabilities, end of year
- $20,165
- Net assets, end of year
- $3,276,942
- Land, buildings and equipment
- $2,410,462
- Publicly traded securities
- $94,891
- Net assets without donor restrictions
- $3,276,942
- Gross receipts
- $2,016,567
- Employees
- 20
- Volunteers
- 5
- Year formed
- 2002
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Mike Fort | CEO/Executive Director Officer | 40 | $132,385 | $16,439 |
| Vera Jones | CFO Officer | 40 | $84,596 | $2,340 |
| Sharon Sweede MD | Chair Trustee or director, Officer | 4 | $0 | $0 |
| Walker Stocks | Vice-Chair Trustee or director, Officer | 4 | $0 | $0 |
| Wendy Paben | Board Member Officer | 1 | $0 | $0 |
| Bill Sbrocco | Board Member Officer | 1 | $0 | $0 |
| Jim Thornton | Board Member Officer | 1 | $0 | $0 |
990 for the year ended March 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Mike Fort | CEO/Executive Director Officer | 40 | $133,511 | $15,424 |
| Vera Jones | CFO Officer | 40 | $66,967 | $1,765 |
| Sharon Sweede MD | Chair Trustee or director, Officer | 4 | $0 | $0 |
| Walker Stocks | Vice-Chair Trustee or director, Officer | 4 | $0 | $0 |
| Wendy Paben | Board Member Officer | 1 | $0 | $0 |
| Bill Sbrocco | Board Member Officer | 1 | $0 | $0 |
| Jim Thornton | Board Member Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 452, BLACK MTN, NC 28711-0452
- In care of
- % DAVID F MARTIN
- Principal officer (990 for 2024)
- Mike Fort, PO Box 452, Black Mountain, NC 28711
- Signed the 990
- Mike Fort, CEO/Executive Director
- Phone
- (828) 357-5212
- Website
- recoveryventurescorp.org
- Return prepared by
- CORLISS & SOLOMON PLLC
Mission
Recovery Ventures offers individuals suffering from chronic substance addictions long term residential treatment and aftercare in a safe and healthy environment that promotes self-sufficiency, emotional growth, personal accountability and personal values enhancement.
Program accomplishments
- Recovery Ventures provides long-term residential treatment for men and women struggling with substance use disorders. During the year, we operated a structured 24-month residential treatment program that included group and individual counseling, peer support, life skills training, and relapse prevention planning. Despite a major hurricane that caused widespread flooding, extensive power outages and transportation disruptions in our area, we kept all our residents safely housed, secured emergency supplies, and coordinated with local agencies to maintain essential services.Expenses $1,703,640 · revenue $1,326,973
- Specific program accomplishments this past year: *We served over 200 residents throughout the year *Provided over 40,000 days of housing, meals and care *Provided over 520 hours of counseling for each associate in our care *65% have remained substance-free *Launched 3 separate Internal Businesses *Over 50 associates secured full-time employment *Our associates completed over 2500 hours of service to local community *Donated over 300 cases of clothing and food to local shelters
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 71-0875890
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Mental health and crisis intervention (F20)
- Assets (IRS master file)
- $3,297,107
- Income (IRS master file)
- $2,016,567
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | $1,997,728 | $1,923,854 | $3,297,107 | XML |
| 990 | March 2024 | $2,158,335 | $2,004,908 | $3,215,382 | XML |
| 990 | March 2023 | $2,472,445 | $2,041,266 | $3,086,430 | IRS |
| 990 | March 2022 | – | – | – | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990 | March 2020 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 71-0875890).
Questions about RECOVERY VENTURES CORPORATION
- What is the EIN of RECOVERY VENTURES CORPORATION?
- The employer identification number (EIN) of RECOVERY VENTURES CORPORATION is 71-0875890.
- Is RECOVERY VENTURES CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to RECOVERY VENTURES CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does RECOVERY VENTURES CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RECOVERY VENTURES CORPORATION due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RECOVERY VENTURES CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of RECOVERY VENTURES CORPORATION?
- The 990 for the year ended March 31, 2025 names Mike Fort.
- Who are the officers and directors of RECOVERY VENTURES CORPORATION?
- The 990 for the year ended March 31, 2025 lists 7 people; 2 received compensation from the organization, the highest $132,385 (Mike Fort, CEO/Executive Director).
- How much revenue does RECOVERY VENTURES CORPORATION have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $1,997,728, expenses of $1,923,854 and total assets of $3,297,107 at year end.
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All nonprofits in BLACK MTN · North Carolina · Mental health and crisis intervention