2019-11-14T11:52:47-08:00 2018-12-31 134036703 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2018-01-01 273611908 Defy Ventures Inc DEFY 6466613960 5 Penn Plaza 19th Floor New York NY 10001 John Garofolo CFO 2019-11-14 true Michael Schall P02024184 2122682800 2018 2020-03-31 21:24:44Z Andrew Glazier 5 Penn Plaza 19th Floor New York NY 10001 3578145 false 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. X 4 4 67 1300 0 5540888 3419299 18600 71560 533 417 26634 86869 5586655 3578145 272122 110459 0 4061710 3011253 0 377799 1737380 1202418 6071212 4324130 -484557 -745985 3051844 833556 1002414 955148 2049430 -121592 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 3030360 110459 71560 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 4,800+ 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 seven states (NY, CT, CA, CO, IL, WA and ND).4.Secured eight 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 82% employment rate for released EITs who have completed our program.7.Launched 140+ businesses, including incorporation and seed funding.8.Raised over $22.1 million in private funding since inception (2010). 3030360 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 true false false false false true false false false false false true 14 0 true 67 true false false false false false false false false 0 false false false false false false false false false false false false X 4 4 true 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 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 Joanne Simpson Director 3.00 0.00 X 0 0 0 Atif Rafiq Director 1.00 0.00 X 0 0 0 Lucy Flores Director 1.00 0.00 X 0 0 0 Charley Moore Director 1.00 0.00 X 0 0 0 Catherine Hoke Pres thru 3/18 60.00 0.00 X X 53313 0 3001 Andrew Glazier President & CEO 70.00 0.00 X 98077 0 360 John Garofolo CFO 70.00 0.00 X 135585 0 17984 Charles Hoke CDO thru 3/18 70.00 0.00 X 62581 0 3638 Carrie Simon ED - Northern CA 60.00 0.00 X 135202 0 1783 Julie Jackson-Forsberg VP - Learning 60.00 0.00 X 108596 0 17923 593354 44689 3 false true false 0 145640 3273659 3419299 Book Sales 611430 42055 42055 License Fees 611430 28505 28505 Speaking Engagements 611430 1000 1000 71560 417 417 0 0 0 0 0 0 0 Miscellaneous 86869 86869 86869 3578145 158429 417 0 110459 110459 0 0 378372 130392 152918 95062 0 2096698 1592176 353749 150773 0 315352 220375 56876 38101 220831 147743 47779 25309 0 201255 201255 0 0 0 0 150160 120778 16000 13382 0 32677 24894 7514 269 0 0 85309 84718 449 142 139827 127579 2244 10004 0 0 14000 14000 0 0 86862 61383 25479 Participant Training 198099 198099 Program Events 106333 106333 Constituent development 76371 65586 6189 4596 Bank Fees 41145 1770 39375 70380 39845 29749 786 4324130 3030360 915971 377799 1832278 532665 0 1160665 276223 0 0 0 0 0 24024 24668 13977 13977 0 0 0 0 0 34877 0 3051844 833556 302414 243597 700000 700000 11551 1002414 955148 X -178528 -747897 2227958 626305 2049430 -121592 3051844 833556 X -745985 -1425037 X false true X true false X 1955824 2980693 5268059 5540888 3419299 19164763 0 0 1955824 2980693 5268059 5540888 3419299 19164763 334306 18830457 533 417 950 0 5910 8675 3661 26634 86869 131749 19297462 311036 0.97580 0.96470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13977 13977 Deferred Rent 11551 11551 X 3578145 3578145 3578145 4324130 4324130 4324130 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, 2015 and later are subject to examination by applicable taxing authorities. true 0 0 EIT Stipends 65609 Business Plan Comp. Awards 44850 Grantmaker's Description of How Grants are Used Defy Ventures requests proof of incorporation and only disburse funds to the business banks accounts to ensure the funds will be invested in their businesses. We also set financial goals for their business that they need to achieve in order to compete for another grant. For each competition they submit a completed business plan and pitch their business idea to a panel of entrepreneurs (volunteers). X false false false false false false false false false false John Garofolo CFO 135585 17984 153569 Charles Hoke Spouse-ED 66219 Salary & Benefits false Cash 2018-07-12 103875 830636337 Defy Ventures Colorado Inc 1644 Platte Street Denver CO 80202 501(c)3 Cash and pledges receivable 2018-07-12 1321165 830583165 Rise Academy 3555 Farnam Street Omaha NE 68131 501(c)3 false false false false Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et Catherine Hoke is the spouse of Charles Hoke. 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 Decreases Transfer of net assets = -$1425037