2018-11-12T08:52:55-08:00 2017-12-31 134036703 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2017-01-01 273611908 Defy Ventures Inc DEFY 6466613960 5 Penn Plaza 19th Floor New York NY 10001 John Garofolo CFO 2018-11-12 true Michael Schall P02024184 2122682800 2017 2019-02-21 02:37:17Z Andrew Glazier 5586655 false false X www.defyventures.org X 2010 NY Defy Ventures transforms the lives of business leaders and people with criminal histories through their collaboration along the entrepreneurial journey. We provide entrepreneurship, employment, and character development training to currently & formerly incarcerated individuals. 7 6 74 2000 0 5268059 5540888 44212 18600 533 3661 26634 5315932 5586655 160060 272122 0 2175268 4061710 0 718422 902305 1737380 3237633 6071212 2078299 -484557 2875588 3051844 741601 1002414 2133987 2049430 Defy Ventures transforms the lives of business leaders and people with criminal histories through their collaboration along the entrepreneurial journey.We provide entrepreneurship, employment, and character development training to currently and formerly incarcerated men, women, and youth. We help "Entrepreneurs-in-Training" (or "EITs") launch successful careers and businesses and break generational legacies of poverty and incarceration. false false 4929472 272122 18600 Were 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:Served over 400 Entrepreneurs in Training (EITs) in our post-release program. EITs receive up to 200+ hours of blended online training during a 15-month program from resident experts and our volunteer faculty, and complete an additional 200+ hours of training in the field working on their start-up companies. EITs compete in up to four business pitch competitions, receive executive mentoring, and engage in intensive personal development.Launched 100+ businesses. All businesses are legally incorporated and receive seed funding.Engaged 3,000+ executive volunteers from ledge funds, investment banks, venture capital and private equity firms, Fortune 500 companies, and entrepreneurial ventures. Volunteers contributed over 12,000 hours ad business pitch competition judges, mentors and resume coaches. Started delivering training inside of prisons (NY, CA, NE, CO, and CT), further leveraging our investment online (video) training content and materials.Recorded a recidivism rate of just 5%.Continued our investment in a blended online training program a core component of our national scaling plan. Resume coaches, mentors, business plan advisors and competition judges also receive online training.Raised over $18.5 million in private funding since inception (2010). 4929472 true true false false false false false false false false true false false false false 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 false false false false false false true 14 0 true 74 true false false false false false false false false 0 false false false false false false false false false false X 7 6 true false false false false false false true true false false true true true true true true true true false CA NY X John Garofolo 7202317085 5 Penn Plaza 19th Floor New York NY 10001 Catherine Hoke CEO & Founder 70.00 0.00 X X 150000 0 9000 Henry Hamilton Chairman 1.00 0.00 X X 0 0 0 Brian Korb Secretary 1.00 0.00 X X 0 0 0 Joanne Simpson Director 1.00 0.00 X 0 0 0 Harry Krensky Director 1.00 0.00 X 0 0 0 Monica Thurmond President 1.00 0.00 X 0 0 0 Atif Rafiq Director 1.00 0.00 X 0 0 0 Hans Hickler Director 1.00 0.00 X 0 0 0 Brad Feld Director 1.00 0.00 X 0 0 0 John Garofolo CFO 70.00 0.00 X 34167 0 0 Andrew Glazier Chief Prg Off 70.00 0.00 X 85315 0 150 Charles Hoke Chief Devel Off 70.00 0.00 X 145260 0 8640 David Long VP, Prison Prog 60.00 0.00 X 125000 0 0 Jeremy Bouman Executive Director 60.00 0.00 X 158125 0 13749 Joseph Ransom Lead Engineer 60.00 0.00 X 139015 0 14961 Veronica Ensign Executive Director 60.00 0.00 X 140000 0 8930 Marina Thompson Chief People Off 70.00 0.00 X 128333 0 9440 1105215 64870 7 false true false 0 143930 5396958 5540888 Educational Program Fees 611430 300 300 Speaking Engagements 611430 18300 18300 18600 533 533 0 0 0 0 0 0 0 Miscellaneous 26634 26634 26634 5586655 45234 533 0 272122 272122 0 0 414740 255770 25511 133459 0 3069604 2594380 89138 386086 0 303923 257905 7561 38457 273443 232041 6802 34600 0 1650 1650 11500 11500 0 0 0 120131 114981 5150 0 122153 88636 30243 3274 0 0 193059 165947 4575 22537 400332 366963 16849 16520 0 0 14000 14000 0 999 999 36723 24801 8736 3186 Program Events 234495 230170 1391 2934 Participant Training 229574 193711 28207 7656 Staff develop. & recruitment 97810 97810 Constituent development 88883 54394 1146 33343 186071 77651 72050 36370 6071212 4929472 423318 718422 1916289 1832278 0 920200 1160665 18523 0 0 0 4202 0 0 24024 13977 13977 999 0 0 0 0 0 15375 34877 2875588 3051844 35601 302414 6000 700000 700000 741601 1002414 X 13987 -178528 2120000 2227958 2133987 2049430 2875588 3051844 -484557 400000 X false true X true false X 1427792 1955824 2980693 5368059 5540888 17273256 0 0 1427792 1955824 2980693 5368059 5540888 17273256 563784 16709472 533 533 0 1440 5910 8675 3661 26634 46320 17320109 246976 0.96470 0.89260 X 13977 13977 X 5599345 12690 12690 5586655 5586655 6083902 12690 12690 6071212 6071212 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, 2014 and later are subject to examination by applicable taxing authorities. true 0 0 Rocket Pitch Competition 121 33150 Capital Call Competition 16 65000 Angel Pitch Competition 2 3500 VC Pitch Competition 4 27000 EIT Stipends 140587 Other 2885 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 Catherine Hoke CEO & Founder 150000 9000 159000 Charles Hoke Chief Devel Off 145260 8640 153900 Jeremy Bouman Executive Director 158125 13749 171874 Joseph Ransom Lead Engineer 139015 14961 153976 Charles Hoke Spouse-ED 153900 Salary & Benefits 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.