Abstract: Rural venture philanthropy projects are an innovative approach to aid rural revitalization and enhance community governance. They encourage villagers to to participate in community autonomy and stimulate their vitality. However, the sustainable development of these projects is affected by many factors. Adopting the grounded theory, this study examines the Huanglong Village project and identifies team characteristics, project quality, government support and partners as crucial factors affecting the sustainable development of rural venture philanthropy. Team characteristics include team structure, internal relationships and professional competence. Project quality factors include project type, project matching degree with community needs, and project public benefit effect. Government support factors, including the support and support intensity from community grass-roots party organizations and the government for the rural venture philanthropy. Partner factors include social work stations’ supervision of rural venture philanthropy projects, resource links and capacity empowerment. The sustainable development of rural venture philanthropy projects can be optimized and promoted from these four dimensions.

Key words: rural revitalization, rural venture philanthropy, influence factor, grounded theory