Nonprofit · EIN 88-2595973
AZ VENTURE CAPITAL INC
Tax-exempt · PHOENIX, AZ 85008
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,074,099 | $1,046,712 | $27,387 | $13,103,024 | $18,419,446 | -$5,316,422 |
| June 30, 2024 | 990 | $1,130,476 | $1,080,230 | $50,246 | $9,340,891 | $11,444,738 | -$2,103,847 |
| June 30, 2023 | 990 | $8,243,963 | $1,178,992 | $7,064,971 | $7,402,095 | $143,599 | $7,258,496 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,074,000
- of which government grants
- $1,074,000
- Program service revenue
- $0
- Investment income
- $99
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $365,956
- Other salaries and wages
- $265,875
- Salaries, compensation and benefits (total)
- $739,846
- Professional fundraising fees
- $0
- Legal fees
- $127,807
- Accounting fees
- $43,603
- Occupancy
- $8,121
- Travel
- $7,730
- Program services (functional)
- $827,773
- Management and general (functional)
- $218,939
Balance sheet and other
- Total assets, start of year
- $9,340,891
- Total assets, end of year
- $13,103,024
- Total liabilities, end of year
- $18,419,446
- Net assets, end of year
- -$5,316,422
- Net assets without donor restrictions
- -$5,316,422
- Gross receipts
- $1,074,099
- Employees
- 5
- Volunteers
- 3
- Year formed
- 2022
- State of legal domicile
- AZ
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AARON FAVREAU | DIR. OF VENTURE INVESTMENTS Highest-paid employee | 40 | $115,734 | $51,733 |
| SAMAD REED | DIR. OF VENTURE INVESTMENTS Highest-paid employee | 40 | $125,461 | $0 |
| JENNIFER PALMER | DIR. OPS./EXEC. ASSISTANT/SECRETARY Trustee or director, Officer | 40 | $111,558 | $2,919 |
| JAMES GOULKA | PRESIDENT & CEO Officer | 40 | $80,712 | $389 |
| VADA MANAGER | CHAIR Trustee or director, Officer | 0.25 | $0 | $0 |
| SANDRA WATSON | VICE CHAIR Trustee or director, Officer | 0.25 | $0 | $0 |
| JIM SWANSON | TREASURER Trustee or director, Officer | 0.25 | $0 | $0 |
990 for the year ended June 30, 2024: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREW LOMBARD | PRESIDENT & CEO Officer | 1 | $264,798 | $40,190 |
| JENNIFER PALMER | EXECUTIVE ASSISTANT TO CEO Highest-paid employee | 1 | $109,250 | $2,174 |
| KARL GENTLES | BOARD MEMBER (THRU 03/2024) Trustee or director | 0 | $0 | $0 |
| PAUL HICKMAN | CHAIRMAN (THRU 08/2023) Trustee or director, Officer | 0 | $0 | $0 |
| CHERYL LOMBARD | SECRETARY (THRU 03/2024) Trustee or director, Officer | 0 | $0 | $0 |
| VADA MANAGER | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| DANNY SEIDEN | BOARD MEMBER (THRU 03/2024) Trustee or director | 0 | $0 | $0 |
| JIM SWANSON | TREASURER Trustee or director, Officer | 0 | $0 | $0 |
| SANDRA WATSON | VICE CHAIRMAN Trustee or director, Officer | 0 | $0 | $0 |
| GARY TRUJILLO | BOARD MEMBER (THRU 03/2024) Trustee or director | 0 | $0 | $0 |
990 for the year ended June 30, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREW LOMBARD | PRESIDENT & CEO Officer | 1 | $111,188 | $11,384 |
| KARL GENTLES | MEMBER Trustee or director | 0 | $0 | $0 |
| PAUL HICKMAN | CHAIRMAN Trustee or director, Officer | 0 | $0 | $0 |
| CHERYL LOMBARD | SECRETARY Trustee or director, Officer | 0 | $0 | $0 |
| VADA MANAGER | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| DANNY SEIDEN | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| JIM SWANSON | TREASURER Trustee or director, Officer | 0 | $0 | $0 |
| SANDRA WATSON | VICE CHAIRMAN Trustee or director, Officer | 0 | $0 | $0 |
| GARY TRUJILLO | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2303 N 44TH ST STE 14 PMB 1203, PHOENIX, AZ 85008-2442
- Principal officer (990 for 2024)
- JAMES GOULKA, 2303 N 44TH ST 14-1203, PHOENIX, AZ 85008
- Signed the 990
- JAMES GOULKA, PRESIDENT & CEO
- Phone
- (954) 468-1748
- Website
- WWW.AZVENTURECAP.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
THE ARIZONA VENTURE CAPITAL, INC. (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.
Program accomplishments
- AS OF DECEMBER 31, 2025, AVC HAS SUCCESSFULLY ALLOCATED $23.45 MILLION TO 36 INNOVATIVE PORTFOLIO COMPANIES, INCLUDING HIGHLIGHTED VENTURES. THESE STRATEGIC INVESTMENTS HAVE GENERATED A TOTAL OF $228M PRIVATE CAPITAL. ADDITIONALLY, WE ANTICIPATE THE CREATION/RETENTION OF 634 HIGH PAYING JOBS FOR THE STATE OF ARIZONA. 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 28% OF OUR FUNDING IS DIRECTED TOWARD BUSINESSES OWNED BY SOCIALLY AND ECONOMICALLY DISADVANTAGED INDIVIDUALS (SEDI) AND 25% ARE CONSIDERED VERY SMALL BUSINESS. THROUGH THESE EFFORTS, WE ARE NOT JUST INVESTING IN COMPANIES; WE ARE INVESTING IN COMMUNITIES AND A BRIGHTER FUTURE FOR ALL ARIZONANS.Expenses $827,773
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 88-2595973
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $13,103,024
- Income (IRS master file)
- $1,074,099
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,074,099 | $1,046,712 | $13,103,024 | XML |
| 990 | June 2024 | $1,130,476 | $1,080,230 | $9,340,891 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $8,243,963 | $1,178,992 | $7,402,095 | XML |
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 88-2595973).
Questions about AZ VENTURE CAPITAL INC
- What is the EIN of AZ VENTURE CAPITAL INC?
- The employer identification number (EIN) of AZ VENTURE CAPITAL INC is 88-2595973.
- Is AZ VENTURE CAPITAL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to AZ VENTURE CAPITAL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AZ VENTURE CAPITAL INC 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 AZ VENTURE CAPITAL INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did AZ VENTURE CAPITAL INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of AZ VENTURE CAPITAL INC?
- The 990 for the year ended June 30, 2025 names JAMES GOULKA.
- Who are the officers and directors of AZ VENTURE CAPITAL INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 4 received compensation from the organization, the highest $115,734 (AARON FAVREAU, DIR. OF VENTURE INVESTMENTS).
- How much revenue does AZ VENTURE CAPITAL INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,074,099, expenses of $1,046,712 and total assets of $13,103,024 at year end.
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