2023-10-04T11:15:45-05:00 2022-12-31 133367751 SPIELMAN KOENIGSBERG & PARKER LLP 1675 BROADWAY 20TH FLOOR NEW YORK NY 10019 990 2022-01-01 272987904 VENTURE FOR AMERICA INC VENT 6467366460 1420 WASHINGTON AVENUE 301 DETROIT MI 48226 ERIC SOMERVILLE CEO 6467366460 2023-08-07 1 ERIC SOMERVILLE 999009999 0 LAWRENCE SPIELMAN P00997111 2124532500 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIC SOMERVILLE 1420 WASHINGTON AVENUE SUITE 301 DETROIT MI 48226 5383435 0 X VENTUREFORAMERICA.ORG X 2011 DE VENTURE FOR AMERICA IS A NON-PROFIT ORGANIZATION THAT IS CREATING ECONOMIC OPPORTUNITY IN AMERICAN CITIES BY MOBILIZING THE NEXT GENERATION OF ENTREPRENEURS AND EQUIPPING THEM WITH THE SKILLS AND RESOURCES THEY NEED TO CREATE JOBS. THE ORGANIZATION OPERATES A 2-YEAR FELLOWSHIP PROGRAM THAT RECRUITS, TRAINS, AND INVESTS IN TOP RECENT COLLEGE GRADUATES BY PLACING THEM IN STARTUPS IN AMERICAN CITIES WITH EMERGING ENTREPRENEURSHIP ECOSYSTEMS AND HELPING THEM LAUNCH THEIR OWN HIGH-IMPACT BUSINESSES. VFA OPERATES A TWO-WEEK TRAINING CAMP FOR INCOMING FELLOWS, PROVIDES ONGOING PROGRAMMING DURING THE 2 YEAR FELLOWSHIP, AND OPERATES AN ACCELERATOR FOR PROGRAM GRADUATES WHO ARE STARTING THEIR OWN BUSINESSES. 13 12 49 300 0 0 6110105 4808945 756500 547000 0 51 0 27439 6866605 5383435 50000 77834 0 0 3319478 3866829 0 0 1304721 1995918 2543530 5365396 6488193 1501209 -1104758 3605973 2879225 373206 751216 3232767 2128009 X VENTURE FOR AMERICA IS CREATING ECONOMIC OPPORTUNITY IN AMERICAN CITIES BY MOBILIZING THE NEXT GENERATION OF ENTREPRENEURS AND EQUIPPING THEM WITH THE SKILLS AND RESOURCES THEY NEED TO CREATE JOBS. 0 0 3774025 77834 FELLOW EXPERIENCERECRUITMENT AND SELECTION VFA CONTINUED TO SELECT A REPRESENTATIVE CLASS OF TALENTED RECENT COLLEGE GRADUATES FROM A HIGH-CALIBER, DIVERSE, NATIONAL POOL OF CANDIDATES FROM ACROSS THE COUNTRY. FELLOWS THIS YEAR REPRESENT A WIDELY DIVERSE GROUP OF YOUNG PROFESSIONALS. IN 2022, WE RECEIVED 1,205 APPLICATIONS AND WELCOMED A HIGHLY SELECTIVE CLASS OF 122 FELLOWS ACROSS OUR 13 COMMUNITIES. NEARLY 55% IDENTIFY AS A RACIAL OR ETHNIC MINORITY. WE CONTINUED TO EXPAND EFFORTS TO RECRUIT FROM AND CONNECT WITH REGIONAL UNIVERSITIES, FACULTY, AND ENTREPRENEURSHIP PROGRAMS ACROSS OUR MARKETS.COMPANY PARTNERSVFA'S COMPANY PARTNERSHIPS TEAM WORKED WITH VFA CITY DIRECTORS TO PARTNER WITH 163 ENTREPRENEURS AND HIRING MANAGERS ACROSS ALL 13 US CITIES TO PROVIDE EARLY STAGE CAREER OPPORTUNITIES TO INCOMING FELLOWS. 72 ORGANIZATIONS ACROSS 13 MARKETS ULTIMATELY HIRED FELLOWS THROUGH OUR RECENTLY LAUNCHED CONNECT PLATFORM. VFA SOURCED THESE EMPLOYMENT PARTNERS AND SUPPORTED FELLOWS THROUGH THE JOB SEARCH AND INTERVIEW PROCESS. COMMUNITY PARTNERSHIPS & CITY ENGAGEMENT VFA DIRECTORS IN EACH MARKET HELPED FELLOWS NAVIGATE THEIR CITIES, BOTH PROVIDING INFORMATION ABOUT THE CITY AT LARGE, AND SUPPORTING THEM AS THEY ACCESS LOCAL NETWORKS. THE LOCAL SUPPORT, PROGRAMMING, AND ORIENTATION TO EACH NEW CITY FOR FELLOWS LED TO HIGH CIVIC ENGAGEMENT, IMMERSIVE EXPERIENCES IN THE STARTUP ECOSYSTEM, AND STRONG RELATIONSHIPS WITH OTHER FELLOW AND ALUMNI PEERS LIVING IN THE CITY. FELLOW EXPERIENCE PROGRAMMINGVFA OFFERED EACH OF OUR FELLOWS CURRICULUM TO SUPPORT BECOMING A STARTUP LEADER OR STARTUP FOUNDER. OUR CITY LEADERS REGULARLY PLANNED INFORMATIONAL AND NETWORKING EVENTS, INFO SESSIONS WITH ECONOMIC DEVELOPMENT AGENCIES, AND ENGAGEMENT WITH LOCAL CIVIC LEADERS IN EVERY VFA MARKET. DIRECTORS ALSO PROVIDED FELLOWS WITH 1:1 COACHING DURING THE YEAR OF FELLOWSHIP AND OTHER ACTIVITIES TO ENCOURAGE ENTREPRENEURIAL THINKING.FELLOW EDUCATIONTRAINING CAMPTHE VENTURE FOR AMERICA FELLOWSHIP KICKS OFF WITH TRAINING CAMP, A HALLMARK OF OUR PROGRAM AND A LAUNCHPAD FOR FELLOWS BEGINNING THEIR ENTREPRENEURIAL CAREERS. FOR TRAINING CAMP 2022, WE RETURNED TO AN IN-PERSON PROGRAM AT WAYNE STATE UNIVERSITY. MORE THAN 120 FELLOWS ATTENDED AND PARTICIPATED IN A WIDE ARRAY OF SESSIONS. THE CURRICULUM, WORKSHOPS, AND TRAININGS FOCUSED ON HELPING FELLOWS FOSTER MEANINGFUL CONNECTIONS WITHIN THE COHORT; TEACHING FOUNDATIONAL STARTUP SKILLS AND TRANSFORMATIVE SOFT-SKILLS; INSTILLING VFA CORE VALUES SO THAT FELLOWS CAN LAUNCH THEIR CAREERS AS HIGH-CHARACTER BUILDERS; AND EMPOWERING ENTREPRENEURIAL MINDSETS. MORE THAN A SERIES OF LECTURES AND WORKSHOPS, TRAINING CAMP IS WHAT SETS VFA APART AND WHAT MAKES OUR PROGRAM A TRUE FELLOWSHIP A COMMUNITY OF LIKE MINDED INDIVIDUALS UNITED BY A SHARED GOAL AND BONDED IN FRIENDSHIP AND CAMARADERIE. TRAINING CAMP, ITS CURRICULUM, AND THE EXPERIENCES PROVIDED TO FELLOWS IS SUPPORTED BY TEAM MEMBERS AND THE COMMITMENT FROM VOLUNTEERS FROM ACROSS THE COUNTRY.FELLOW EDUCATION PROGRAMMING AND ENTREPRENEURIAL ACTIVITIES VFA PROVIDED ONGOING SUPPORT FOR FELLOWS TO EXPAND ENTREPRENEURSHIP SKILLS WITH NATIONAL ENTREPRENEURSHIP PROGRAMS, INCLUDING VALIDATION CHALLENGES, REDUX, VFA'S ANNUAL ACCELERATOR, AND SIDE-PROJECT-A-THON. VFA ALSO PROVIDED PROGRAMMING TO ALUMNI AND FELLOWS COMPLETING THEIR FELLOWSHIP THROUGH PROGRAMS LIKE IN-CITY GRADUATIONS AND OUR NATIONAL ALUMNI REUNION. FELLOWS AND ALUMNI WHO HAVE LAUNCHED THEIR OWN COMPANIES HAD THE OPPORTUNITY TO PARTICIPATE IN PROGRAMS SUCH AS THE ACCELERATOR AND DEMO DAY, YOUNG INNOVATOR AWARDS, VENTURE CATALYST AWARDS, AND BRAINTRUSTS. VFA'S ACCELERATOR PROVIDED A THREE-MONTH, ZERO-EQUITY PROGRAM THAT OFFERED MONTHLY BUSINESS STIPENDS, MENTORSHIP, AND THE OPPORTUNITY TO WIN UP TO $12,500 AT OUR IN-PERSON AND LIVESTREAMED DEMO DAY.COMMITMENT TO DIVERSE AND INCLUSIVE COMMUNITIESVFA IS COMMITTED TO EMPOWERING, PROVIDING OPPORTUNITIES, AND CREATING SUPPORT FOR FELLOWS AND ALUMNI WHO IDENTIFY WITH GROUPS THAT ARE UNDERREPRESENTED IN ENTREPRENEURIAL AND INNOVATION COMMUNITIES. THROUGH OUR RISE AFFINITY GROUPS, VFA CONNECTS AND SUPPORTS INDIVIDUALS WITH IDENTITIES SUCH AS AFRICAN-AMERICAN, AFRO-CARIBBEAN & AFRICAN; SOUTH ASIAN OR SOUTH ASIAN-AMERICAN ; LATINO/LATINA/LATINX; ASIAN OR ASIAN-AMERICAN; LGBTQ; WOMEN; MIDDLE EASTERN OR NORTH AFRICAN; FIRST-GENERATION COLLEGE GRADUATES. WE OFFER RELOCATION ASSISTANCE TO FELLOWS WHO ARE EXPERIENCING FINANCIAL NEED. 3774025 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 8 0 49 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X X BETSYE PARK 6467366460 1420 WASHINGTON AVENUE SUITE 301 DETROIT MI 48226 JAMES FEAGIN DIRECTOR 3.00 X 0 0 0 JARET DAVIS DIRECTOR 3.00 X 0 0 0 SHANE TINTLE DIRECTOR 3.00 X 0 0 0 CHRISTIAN ANTHONY DIRECTOR 3.00 X 0 0 0 GIGI LEE CHANG DIRECTOR 3.00 X 0 0 0 ERIC FELDER DIRECTOR 3.00 X 0 0 0 MARCY ENGEL DIRECTOR 3.00 X 0 0 0 SHEGUN OTULANA DIRECTOR 3.00 X 0 0 0 JENNIFER GABRIELLI DIRECTOR 3.00 X 0 0 0 DORIE SMITH CHAIRPERSON 3.00 X X 0 0 0 JAY BOCKHAUS TREASURER 3.00 X X 0 0 0 SY JACOBS DIRECTOR EMERITUS 3.00 X 0 0 0 ERIC SOMERVILLE CEO 40.00 X X 250000 0 14733 ELIZABETH PARK EMPLOYEE 40.00 X 160417 0 22848 MARY WRIGHT EMPLOYEE 40.00 X 125000 0 10261 CARRIE MURPHY EMPLOYEE 40.00 X 130832 0 25673 BRANDON MITCHELL EMPLOYEE 40.00 X 111000 0 10301 KEENAN COVINGTON EMPLOYEE 40.00 X 112917 0 9651 ABBY GUERIN RUSSELL EMPLOYEE 40.00 X 113750 0 25 1003916 0 93492 7 0 1 0 0 848094 3960851 145246 4808945 PLACEMENT FEES 900099 547000 547000 547000 51 51 MISCELLANEOUS REVENUE 900099 27439 27439 27439 5383435 574439 0 51 X 77834 77834 1003916 642506 110431 250979 2226399 1424895 244904 556600 381576 248024 53421 80131 254938 165710 35691 53537 19024 13018 2403 3603 44776 30640 5655 8481 490080 335362 61897 92821 40489 36122 975 3392 26542 17638 2861 6043 142135 92644 19799 29692 112842 108114 1591 3137 8408 8408 29607 19245 4145 6217 45046 29283 6305 9458 OTHER PROGRAM COSTS 717714 717714 DUES & SUBSCRIPTIONS 341384 221823 36783 82778 BAD DEBT 260797 88671 86063 86063 EVENT COSTS 104875 102368 493 2014 159811 111720 18316 29775 6488193 3774025 1409447 1304721 2238501 333876 52465 2513 100031 208912 5546 42500 24933 100302 57792 96737 29908 29908 0 0 -30247 -38681 984599 984599 172353 1148467 3605973 2879225 232886 91216 0 660000 140320 373206 751216 X 3232767 2128009 3232767 2128009 3605973 2879225 -1104758 0 X 0 1 X 1 0 X 5885609 4762251 4041563 5991884 4663699 25345006 5885609 4762251 4041563 5991884 4663699 25345006 25345006 -74 235552 159789 -24735 51 370583 1820 136620 60 27439 165939 25881528 0.97930 0.97840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26421 26421 0 1088 1088 0 2399 2399 0 0 VFA CREATE, LLC 842048 C VFA CREATE, INC. 142551 C 984599 WEBSITE 39476 SOFTWARE REBUILD 260897 EMPLOYEE RETENTION CREDIT 848094 1148467 X 5528681 145246 145246 5383435 0 5383435 6488193 0 6488193 0 6488193 PART X, LINE 2: THE ORGANIZATION'S ACCOUNTING POLICY IS TO PROVIDE LIABILITIES FOR UNCERTAIN TAX POSITIONS WHEN A LIABILITY IS PROBABLE AND ESTIMABLE. MANAGEMENT IS NOT AWARE OF ANY VIOLATION OF ITS TAX STATUS AS AN ORGANIZATION EXEMPT FROM INCOME TAXES, NOR OF ANY EXPOSURE TO UNRELATED BUSINESS INCOME TAX. 1 KYLIE LONG 7500 0 DEMO DAY 2022 JUDGES CHOICE AWARD 1 PART I, LINE 2 - PROCEDURES FOR MONITORING USE OF GRANTS VENTURE FOR AMERICA REQUESTS PERIODIC NARRATIVE AND FINANCIAL REPORTING OF GRANT FUNDED ACTIVITIES FROM GRANTEES. GRANT EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACCRUAL METHOD. X X X 0 0 0 0 0 0 0 0 0 ERIC SOMERVILLE CEO 250000 0 0 0 0 0 0 0 14733 0 264733 0 0 0 ELIZABETH PARK EMPLOYEE 160417 0 0 0 0 0 0 0 22848 0 183265 0 0 0 CARRIE MURPHY EMPLOYEE 130832 0 0 0 0 0 0 0 25673 0 156505 0 0 0 X 701 24929 FMV X LEGAL SERVICES 131 118671 FMV X CONSULTING 11 26575 FMW 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING OF THE RETURN, THE 990 IS DISTRIBUTED TO THE AUDIT COMMITTEE FOR THEIR APPROVAL. THE 990 IS THEN FORWARDED TO THE FULL BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PRESENTED FOR SIGNATURE TO BOARD MEMBERS ANNUALY. EACH BOARD MEMBER SIGNS AN ANNUAL DECLARATION STATING THAT THEY HAD NO CONFLICTS OR IDENTIFYING THE NATURE OF THEIR CONFLICTED TRANSACTIONS. SHOULD THERE BE ANY NEED TO REVIEW POTENTIAL CONFLICTS, THE BOARD PRESIDENT WILL DETERMINE HOW TO ADDRESS AND TAKE APPROPRIATE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE, COMPRISED OF THREE BOARD MEMBERS, REVIEWS AND CREATES RECOMMENDATIONS ON EXECUTIVE COMPENSATION BASED ON COMPARABLE STUDIES OF RECOGNIZED INDUSTRY COMPENSATION SURVEYS. MINUTES OF THE COMMITTEE REFLECT THE NATURE OF THIS PROCESS. THE COMPENSATION COMMITTEE RECOMMENDATIONS ARE PRESENTED TO THE FULL BOARD FOR REVIEW AND APPROVAL. THE BOARD APPROVES THE ANNUAL ORGANIZATIONAL BUDGET WHICH INCLUDES COMPENSATION DETAIL OF ALL OTHER OFFICERS AND EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 WILL BE POSTED ON OUR WEBSITE AND IT IS AVAILABLE UPON REQUEST. ALL OTHER DOCUMENTS, SUCH AS PREVIOUS FORMS 990 AND ANNUAL REPORTS, ARE ALSO PUBLISHED ON OUR WEBSITE AT: HTTPS://VENTUREFORAMERICA.ORG/FINANCIALS/ FORM 990, PART IX, LINE 24E PROCESSING FEES: PROGRAM SERVICE EXPENSES 56,578. MANAGEMENT AND GENERAL EXPENSES 9,059. FUNDRAISING EXPENSES 15,555. TOTAL EXPENSES 81,192. TELEPHONE & INTERNET: PROGRAM SERVICE EXPENSES 35,834. MANAGEMENT AND GENERAL EXPENSES 7,692. FUNDRAISING EXPENSES 11,538. TOTAL EXPENSES 55,064. MEALS: PROGRAM SERVICE EXPENSES 16,303. MANAGEMENT AND GENERAL EXPENSES 1,260. FUNDRAISING EXPENSES 2,224. TOTAL EXPENSES 19,787. SHIPPING: PROGRAM SERVICE EXPENSES 3,005. MANAGEMENT AND GENERAL EXPENSES 305. FUNDRAISING EXPENSES 458. TOTAL EXPENSES 3,768. VFA CREATE INC 307 7TH AVENUE 1201 NEW YORK NY 10001 465597863 INVESTMENTS NY C 1.00000 1 VFA CREATE LLC 307 7TH AVENUE 1201 NEW YORK NY 10001 611755050 INVESTMENTS NY C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0