Global Friendship Ventures

Overview

Global Friendship Ventures is a U.S. nonprofit organization registered as a 501(c)(3) entity. It focuses on fostering community and friendship among international students studying in Norfolk, Virginia, particularly those attending Old Dominion University. The organization aims to support these students by providing assistance with their integration into American collegiate life, offering housing, and facilitating connections with local families through social and community events.

Mission

The mission of Global Friendship Ventures is centered on creating an inclusive environment for international students. This is achieved by offering practical assistance, including housing and transportation help, and organizing social events that encourage cultural exchange and understanding. For students interested, they also offer opportunities to explore Christian religious teachings.

Structure and Operations

Global Friendship Ventures operates with the support of more than 22 local churches. Its activities are designed to engage international students in meaningful conversations about faith and ideas. The organization is led by a dedicated team, with Richard Hardison serving as president. The board consists of independent members, which is commended for its governance structure.

Financials and Transparency

The organization receives significant revenue from contributions, which account for a major portion of its income. It maintains a low liabilities-to-assets ratio, indicating effective asset management. However, it has faced challenges related to financial transparency, including a lack of financial statements on its public platforms and missing policies such as conflict of interest and whistleblower protections, which has affected its ratings on charity evaluation platforms like Charity Navigator.

Impact

Global Friendship Ventures plays a vital role in enriching the lives of international students in Norfolk by creating opportunities for cultural exchange and mutual understanding. Through its support services, it helps students navigate academic and cultural challenges, enhancing the overall diversity and cohesion of the local community.

Legitimacy and Transparency

As a registered nonprofit, Global Friendship Ventures submits a Form 990 annually, demonstrating its compliance with U.S. tax-exempt regulations. Donations to the organization are tax-deductible, underscoring its legitimacy as a public charity. Despite areas for improvement, its commitment to program expenses is notable, with a significant portion of its budget dedicated to supporting its mission.