2020-03-27T13:45:46-07:00 2019-12-31 134036703 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2019-01-01 273611908 Defy Ventures Inc DEFY 6466613960 5 Penn Plaza 19th Floor New York NY 10001 John Garofolo CFO 2020-03-27 true Michael Schall P02024184 2122682800 2019 2021-01-29 14:40:06Z Andrew Glazier 5 Penn Plaza 19th Floor New York NY 10001 2408207 false X www.defyventures.org X 2010 NY Defy Ventures mission is to shift mindsets to give people with criminal histories their best shot at a second chance by providing them with personal development, career readiness, and entrepreneurship training. 8 8 34 1645 0 3419299 2329453 71560 0 417 218 86869 78536 3578145 2408207 110459 24356 0 3011253 1529414 0 203823 1202418 593051 4324130 2146821 -745985 261386 833556 1054164 955148 814370 -121592 239794 Defy Ventures mission is to shift mindsets to give people with criminal histories their best shot at a second chance by providing them with personal development, career readiness, and entrepreneurship training. Defys vision is to cut the recidivism rate in half by leveraging entrepreneurship to increase economic opportunity and transform lives. false false 1603421 24356 We're proud of Defys results and are excited to show supporters the results of their investment of time and funding. Since the launch of our program in January 2012, Defy has:1.Served over 5,500 Entrepreneurs in Training (EITs) in our in-prison and post-release program. EITs complete a rigorous six- to nine-month curriculum culminating in a business pitch competition and graduation as part of the in-prison program. The post-release program includes workshops, mentoring, and a business incubator.2.Engaged 5,800+ executive volunteers from hedge funds, investment banks, venture capital and private equity firms, Fortune 500 companies, and entrepreneurial ventures. Volunteers served as business pitch competition judges, mentors, and resume coaches. 3.Grown to serve in six states (NY, CT, CA, CO, IL, and WA).4.Secured nine employment partners to source and provide jobs for released EITs who have completed our in-prison program.5.Recorded a recidivism rate of 7.2%.6.Recorded an 84% employment rate for released EITs who have completed our program.7.Launched 140+ businesses, including incorporation and seed funding.8.Raised over $24.4 million in private funding since inception (2010). 1603421 true true false false false false false false false false true false false false true true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false true 20 0 true 34 true false false false false false false false 0 false false false false false false false X 8 8 false false false false false false false true true false true true true true true true true true true true false CA NY X John Garofolo 7202317085 5 Penn Plaza 19th Floor New York NY 10001 John Garofolo CFO 70.00 0.00 X 143770 0 18843 Carrie Simon ED Northern CA 60.00 0.00 148179 0 5669 Julie Jackson-Forsberg VP -Learning 60.00 0.00 110486 0 17436 Andrew Glazier President & CEO 70.00 0.00 X 75000 0 59 Henry Hamilton Chairman 6.00 0.00 X X 0 0 0 Brian Korb Secretary 5.00 0.00 X X 0 0 0 Harry Krensky Director 5.00 0.00 X 0 0 0 Monica Thurmond Director 5.00 0.00 X 0 0 0 Marcus Glover Director 3.00 0.00 X 0 0 0 John Dvor Director 1.00 0.00 X 0 0 0 April Smith Director 1.00 0.00 X 0 0 0 Ariel Jaduszliwer Director 1.00 0.00 X 0 0 0 477435 42007 3 false true false 0 241332 2088121 2329453 0 218 218 0 0 0 0 0 0 0 Miscellaneous 78536 78536 78536 2408207 78536 218 0 24356 24356 0 0 243902 71298 142580 30024 0 1065721 898489 69877 97355 2268 1752 332 184 98685 87034 2134 9517 118838 91799 17397 9642 0 0 0 0 0 0 103833 58816 37017 8000 0 31341 27051 4144 146 0 0 59429 56639 2790 61489 46930 7570 6989 0 0 13168 13168 0 0 44004 15955 28049 Participant Training 115550 97103 10304 8143 Program Events 79710 69447 10263 Constituent development 46826 44820 1131 875 Bank Fees 24316 1762 22554 13385 11932 1322 131 2146821 1603421 339577 203823 532665 583542 0 276223 440400 0 0 0 0 0 24668 30222 13977 13977 0 0 0 0 0 0 833556 1054164 243597 211004 700000 589810 11551 13556 955148 814370 X -747897 -683845 626305 923639 -121592 239794 833556 1054164 X 261386 100000 X false true X true false X 2980693 5268059 5540888 3419299 2329453 19538392 0 0 2980693 5268059 5540888 3419299 2329453 19538392 330726 19207666 533 417 218 1168 0 8675 3661 26634 86869 78536 204375 19743935 216276 0.97280 0.97580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13977 13977 Deferred Rent 13556 13556 X 2508207 100000 100000 2408207 2408207 2146821 2146821 2146821 Part X : FIN48 Footnote The Organization does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending December 31, 2016 and later are subject to examination by applicable taxing authorities. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 Gain on debt forgiveness $100000 true 0 0 EIT Stipends 17 2606 Cost Chromebook Business Competition Awards 56 21750 X true false false false false false false false false Carrie Simon ED Northern CA 148179 5669 153848 John Garofolo CFO 143770 18843 162613 Form 990, Part VI, Line 11b: Form 990 Review Process Management reviewed a draft of the form 990 and provided edits to the tax preparer. After this process was completed, the form 990 was sent to the full board of directors prior to being filed with the IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization has a "board approved" conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the CEO to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the CFO and President to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Documents available upon request. Other Changes In Net Assets Or Fund Balances - Other Increases Gain on forgiveness of debt = $100000