Recovery Ventures Corporation

Nonprofit profile at a glance

EIN
710875890
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Black Mountain, NC, USA
Phone
8283575212
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Alcohol, Drug and Substance Abuse, Dependency Prevention and Treatment

Reported finances

Revenue
$1,997,728
Expenses
$1,923,854
Assets
$3,297,107
Liabilities
$20,165

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Mike Fort (CEO/Executive Director)

Highest reported compensation

  • Mike Fort (CEO/Executive Director): $148,824 total reported compensation
  • Vera Jones (CFO): $86,936 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 67% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 88.6%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.7%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 12.3%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 88.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $149K · 7 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.