2016-10-28T12:47:45-07:00 2015-12-31 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2015-01-01 273611908 Defy Ventures Inc DEFY 6466613960 5 Penn Plaza 19th Floor New York NY 10001 Catherine Hoke CEO & Founder 2016-10-28 true David C Ashenfarb P00535436 2122682800 2015 2017-02-10 21:41:12Z Catherine Hoke 5 Penn Plaza New York NY 10001 2771561 false false X www.defyventures.org X 2010 NY Defy Ventures is an entrepreneurship, employment, and character development training program for currently and formerly incarcerated men, women, and youth. 8 7 42 3000 0 1955824 2680693 94760 81904 192 289 5910 8675 2056686 2771561 141698 0 1019697 1796506 0 301116 992376 1087267 2012073 3025471 44613 -253910 860239 802473 550641 746785 309598 55688 To provide carefully selected, ambitious individuals who have criminal histories with transformational entrepreneurship, leadership, character development and career opportunities. Defy seeks to break the cycle of incarceration by equipping individuals-who because of their criminal histories are at a severe disadvantage in the employment market-to attain sustainable and legal financial stability. false false 2455988 141698 81904 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 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 $8 million in private funding since inception (2010). 2455988 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 true false true false false false false false false false false false false false false false false false false false false false false false true 13 0 true 42 true false false false false false false false false 0 false false false false false false false false false false X 8 7 false false false false false false false true true false false true true true true true true true true false NY X Louis Kanganis 6466613960 5 Penn Plaza 19th Floor New York NY 10001 Catherine Hoke CEO & Founder 70.00 0.00 X X 139137 0 9351 Henry Hamilton Chairman 1.00 0.00 X X 0 0 0 Rod Washington Director 1.00 0.00 X 0 0 0 Hans Hickler Director 1.00 0.00 X 0 0 0 Bea Arthur Director 1.00 0.00 X 0 0 0 Brian Korb Secretary 1.00 0.00 X 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 COO 70.00 0.00 X 147000 0 15475 Charles Hoke VP Growth 70.00 0.00 X 118750 0 7239 404887 32065 3 false true false 0 2680693 2680693 Educational Program Fees 52904 52904 Speaking Engagements 29000 29000 81904 289 289 0 0 0 0 0 0 0 Miscellaneous 8675 8675 8675 2771561 90579 289 141698 141698 0 0 0 290000 211000 58000 21000 0 1277876 1027965 58100 191811 0 88181 73708 6005 8468 140449 117398 9565 13486 0 3585 3585 0 0 0 0 232133 203752 14102 14279 18394 10227 905 7262 34582 33103 1095 384 0 0 178044 147877 12415 17752 121343 117236 2101 2006 0 0 0 0 3617 3617 28828 8331 18326 2171 Participant Training 175331 152568 15797 6966 Program Events 145347 144709 498 140 Staff develop. & recruitment 52524 25682 25922 920 Miscellaneous 29654 3739 12807 13108 63885 36995 25527 1363 3025471 2455988 268367 301116 791656 616188 0 16746 140497 22199 15788 0 0 7188 4202 0 850 2715 13977 10169 7425 3808 0 0 0 0 14175 19275 860239 802473 50641 37785 9000 500000 700000 550641 746785 X -190402 -180646 500000 236334 309598 55688 860239 802473 -253910 X false true X true false X 772619 1164999 1427792 1955824 2680693 8001927 0 0 772619 1164999 1427792 1955824 2680693 8001927 1009030 6992897 0 0 1750 1440 5910 8675 17775 8019702 184164 0.87200 0.79480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13977 10169 3808 3808 X 2771561 2771561 2771561 3025471 3025471 3025471 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, 2012 and later are subject to examination by applicable taxing authorities. false Chase 1 Solutions 43 Cherry Street West Orange NJ 07052 811089183 10250 0 Business plan competition award Create Shop Inc 2907 Eastman Avenue Oakland CA 64619 7000 0 Business plan competition award Gotham Produce Corp 146 South Irving Street Ridgewood NJ 07450 475031873 5100 0 Business plan competition award Prison Bars Inc 1859 Powell Street San Francisco CA 94133 473944713 15000 0 Business plan competition award Rhyme Antics Inc 4334 Bruner Avenue Bronx NY 10466 462992812 6200 0 Business plan competition award The Cleaned Space LLC 55 Monroe Place Bloomfield NJ 07003 472683608 10100 0 Business plan competition award 0 6 X false false false false false false false false false false Louis Kanganis COO 147000 15475 162475 Charles Hoke Spouse-ED 118750 Salary 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 executive director 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.