2015-10-30T08:09:44-07:00 2014-12-31 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2014-01-01 273611908 Defy Ventures Inc DEFY 6466613960 5 Penn Plaza 19th Floor New York NY 10001 Catherine Hoke CEO & Founder 2015-10-30 true David C Ashenfarb P00535436 2122682800 2014 2016-04-25 22:37:26Z Catherine Hoke 5 Penn Plaza New York NY 10001 2056686 false false X www.defyventures.org X 2010 NY To provide carefully selected, ambitious individuals who have criminal histories with transformational entrepreneurship, leadership, character development and career opportunities. 6 6 33 2956 0 1427792 1955824 7500 94760 68 192 1440 5910 1436800 2056686 0 0 794652 1019697 0 188630 426500 992376 1221152 2012073 215648 44613 322505 860239 57520 550641 264985 309598 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 1663116 94760 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 281 Entrepreneurs in Training (EITs) in four teams. EITs receive 200+ hours of blended online training over 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 75 businesses. All businesses are legally incorporated and receive seed funding. Nearly 100% generate revenue in their first six weeks.Achieved an employment rate of 94%. Our program participants reported an 83% 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.Recorded a recidivism rate of just 3%.Fully transitioned to a blended online training program a core component of our national scaling plan - that equips people with criminal histories with employment, entrepreneurship, and life skills. Resume coaches, mentors, business plan advisors, and competition judges also receive online training.Raised over $5 million in private funding since inception (2010).Been showcased in national media including in Richard Bransons blog, The New York Times, Inc. Magazine, The New Yorker, Christian Science Monitor, The Harvard Business Review, The Wall Street Journal, The Huffington Post, Forbes.com, The Chicago Tribune, and FoxNews.com. 1663116 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 false true false false false false false false false false false false false false false false false false false false false false false true 12 0 true 33 true false false false false false false false false 0 false false false false false false false false false false X 6 6 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 Henry Hamilton Chairman 1.00 0.00 X X 0 0 0 Rod Washington Treasurer 1.00 0.00 X X 0 0 0 Hans Hickler CEO & Founder 1.00 0.00 X 0 0 0 Mike Scovel Director 1.00 0.00 X 0 0 0 Brian Korb Founder 1.00 0.00 X X 0 0 0 Monica Thurmond Director 1.00 0.00 X 0 0 0 Catherine Hoke CEO & Founder 70.00 0.00 X 131534 0 7700 Louis Kanganis COO 70.00 0.00 X 147000 0 13530 278534 21230 2 false true false 0 1955824 1955824 Educational Program Fees 85260 85260 Speaking Engagements 9500 9500 94760 192 192 0 0 0 0 0 0 0 Miscellaneous 5910 5910 5910 2056686 100670 192 X 0 0 0 0 299764 241933 28427 29404 0 608384 491013 57696 59675 0 37510 30273 3558 3679 74039 59756 7021 7262 0 0 0 0 0 0 223833 151057 15910 56866 52095 42420 9675 41089 36573 1953 2563 0 0 115455 102117 7244 6094 64527 62985 978 564 0 0 0 0 3138 3138 9467 256 9211 Participant Training 191965 191965 Program Events 142157 141917 240 Stipends & Incubator Funding 62376 62376 Staff develop. & recruitment 32594 20184 12410 53680 28291 12781 12608 2012073 1663116 160327 188630 259304 791656 1001 0 6572 16746 22199 0 0 5965 7188 0 38500 850 13977 6552 4563 7425 0 0 0 0 6600 14175 322505 860239 57520 50641 500000 57520 550641 X 189985 -190402 75000 500000 264985 309598 322505 860239 44613 X false true X false false X 105506 772619 1164999 1427792 1955824 5426740 0 0 105506 772619 1164999 1427792 1955824 5426740 1106198 4320542 0 0 1750 1440 5910 9100 5435840 102260 0.79480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13977 6552 7425 7425 X 2056686 2056686 2056686 2012073 2012073 2012073 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, 2011 and later are subject to examination by applicable taxing authorities. X false false false false false false false false false false Louis Kanganis COO 147000 13530 160530 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.