2017-11-10T11:38:32-08:00 2016-12-31 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2016-01-01 273611908 Defy Ventures Inc DEFY 6466613960 5 Penn Plaza 19th Floor New York NY 10001 Catherine Hoke CEO & Founder 2017-11-10 true Michael Schall P02024184 2122682800 2016 2017-02-10 21:41:12Z Catherine Hoke 5 Penn Plaza New York NY 10001 5315932 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. 9 8 39 3000 0 2680693 5268059 81904 44212 289 0 8675 3661 2771561 5315932 141698 160060 0 1796506 2175268 0 226940 1087267 902305 3025471 3237633 -253910 2078299 802473 2875588 746785 741601 55688 2133987 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 2675844 160060 44212 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: 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-ups. 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 fundingAchieved an employment rate of 95%. Our program participants reported an 80+% income increase.Engaged 3,000+ executive volunteers from hedge funds, investment banks, venture capital and private equity firms, Fortune 500 companies, and entrepreneurial ventures. Volunteers contributed over 12,000 hours as business pitch competition judges, mentors and resume coaches.Started delivering training inside of prisons (NY and CA), further leveraging our investment in online (video) training content and materials.Recorded a recidivism rate of less than 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 $13 million in private funding since inception (2010). 2675844 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 false true 11 0 true 39 true false false false false false false false false 0 false false false false false false false false false false X 9 8 false false false false false false false true true false false true true true true true true true true false NY X Katherine Torres 6466613960 5 Penn Plaza 19th Floor New York NY 10001 Catherine Hoke CEO & Founder 70.00 0.00 X X 150000 0 21443 Henry Hamilton Chairman 1.00 0.00 X X 0 0 0 Brian Korb Secretary 1.00 0.00 X X 0 0 0 Brad Feld Director 1.00 0.00 X 0 0 0 Joanne Simpson Director 1.00 0.00 X 0 0 0 Hans Hickler Director 1.00 0.00 X 0 0 0 Rod Washington Director 1.00 0.00 X 0 0 0 Harry Krensky Director 1.00 0.00 X 0 0 0 Monica Thurmond Director 1.00 0.00 X 0 0 0 Louis Kanganis CFO 70.00 0.00 X 150000 0 17926 John Hubers President 70.00 0.00 X 150000 0 10364 Charles Hoke VP Growth 70.00 0.00 X 135857 0 11762 Joseph Ransom Lead Eng 60.00 0.00 X 135707 0 16258 Marina Thompson VP Talent Aquis. 60.00 0.00 X 120000 0 17316 Jule Jackson-Forsberg VP Learning 60.00 0.00 X 115000 0 0 956564 95069 7 false true false 0 214319 5053740 5268059 Educational Program Fees 611430 16712 16712 Speaking Engagements 611430 27500 27500 44212 0 0 0 0 0 0 0 0 Miscellaneous 3661 3661 3661 5315932 47873 0 160060 160060 0 0 489011 407210 49657 32144 0 1381437 1204195 75961 101281 0 152878 133250 8017 11611 151942 131015 10035 10892 0 0 0 0 0 0 55935 32375 21199 2361 21289 14199 1154 5936 34559 24688 9792 79 0 0 164107 131301 8695 24111 158038 139329 13433 5276 0 0 0 0 2809 2422 186 201 45245 11987 31432 1826 Participant Training 148209 113552 30482 4175 Program Events 110438 108610 1206 622 Miscellaneous 51181 10799 17241 23141 Staff develop. & recruitment 49773 11140 37701 932 60722 39712 18658 2352 3237633 2675844 334849 226940 616188 1916289 0 140497 920200 15788 18523 0 0 4202 4202 0 2715 0 13977 12978 3808 999 0 0 0 0 19275 15375 802473 2875588 37785 35601 9000 6000 700000 700000 746785 741601 X -180646 13987 236334 2120000 55688 2133987 802473 2875588 2078299 X false true X true false X 1164999 1427792 1955824 2680693 5268059 12497367 0 0 1164999 1427792 1955824 2680693 5268059 12497367 1324514 11172853 0 0 1440 5910 8675 3661 19686 12517053 228376 0.89260 0.87200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13977 12978 999 999 X 5315932 5315932 5315932 3237633 3237633 3237633 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, 2013 and later are subject to examination by applicable taxing authorities. true 0 0 Rocket Pitch Competition 66 28960 Capital Call Competition 11 29800 Angel Pitch Competition 17 49300 VC Pitch Competition 8 52000 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 10721 10722 160721 10722 John Hubers President 150000 10364 160364 Joseph Ransom Lead Eng 135707 16258 151965 Louis Kanganis CFO 150000 17926 167926 Charles Hoke Spouse-ED 147619 Salary & Benefits false Form 990, Part VI, Line 11b: Form 990 Review Process Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, 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.