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        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X, LINE 2:</ReturnReference>
        <Explanation>THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS AND WILL RECOGNIZE A LOSS CONTINGENCY WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. AS OF JUNE 30, 2013, MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS.</Explanation>
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    </IRS990ScheduleD>
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      <Form990ScheduleJPartII>
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        <Title>PRES/CEO</Title>
        <BaseCompensationFilingOrg>204776</BaseCompensationFilingOrg>
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        <BonusFilingOrg>0</BonusFilingOrg>
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        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
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        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
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    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE FOR ACCURACY AND COMPLETENESS. ALL QUESTIONS ARISING DURING THIS REVIEW PROCESS ARE RESOLVED PRIOR TO THE FILING OF THE FORM.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE ORGANIZATION HAS ALL OFFICERS SIGN CONFLICT OF INTEREST POLICY FORM, STATING THAT THEY UNDERSTAND THE TERMS AND CONDITIONS OF THE POLICY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15A</ReturnReference>
        <Explanation>THE COMPENSATION OF THE CEO IS DETERMINED BASED ON COMPARABLE MARKET RATES IN THE SAME GEOGRAPHIC AREA, REVIEWED BY THE ORGANIZATION'S EXECUTIVE COMMITTEE, APPROVED BY THE BOARD OF DIRECTORS AND DOCUMENTED IN THE MINUTES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>AUDIT COMMITTEE RESPONSIBLITY AND OVERSIGHT OF THE AUDIT</Identifier>
        <ReturnReference>FORM 990, PART XII,LINE 2C</ReturnReference>
        <Explanation>THE AUDIT COMMITTEE IS RESPONSIBLE FOR SELECTION OF THE INDEPENDENT AUDITORS AND IS CHARGED WITH THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED BETWEEN YEARS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>SVEDA:</Identifier>
        <ReturnReference>FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:</ReturnReference>
        <Explanation>SILICON VALLEY CITIES WORK TOGETHER TO CREATE A HEALTHY ECONOMIC ENVIRONMENT, SHARE BEST PRACTICES WITH EACH OTHER AND BUILD RELATIONSHIPS WITH SILICON VALLEY'S ECONOMIC ENGINE. THEY GET THE WORD OUT THERE: OUR REGION IS THE WORLD'S BEST PLACE TO BUILD A COMPANY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>WORKFORCE:</Identifier>
        <ReturnReference>FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:</ReturnReference>
        <Explanation>SILICON VALLEY FACES WELL-KNOWN CHALLENGES IN PROVIDING SKILLED WORKERS FOR THE REGION'S EVER-GROWING LIST OF INNOVATIVE TECHNOLOGY ENDEAVORS. JOINT VENTURE HAS BEEN SELECTED BY THE NORTH VALLEY WORKFORCE BOARD (NOVA), WORK2FUTURE, AND THE SAN MATEO COUNTY WORKFORCE INVESTMENT BOARD TO RECOMMEND A COHERENT REGIONAL WORKFORCE INVESTMENT STRATEGY AND TO IDENTIFY THE INITIAL STEPS TOWARD ITS IMPLEMENTATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>DISASTER PREPAREDNESS:</Identifier>
        <ReturnReference>FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:</ReturnReference>
        <Explanation>THE GOAL OF JOINT VENTURE'S DISASTER PLANNING INITIATIVE IS TO MAKE SILICON VALLEY THE WORLD'S BEST EXAMPLE OF REGIONAL PLANNING AND PREPARATION. WHY? SO OUR RESIDENTS FEEL SAFE AND SECURE - BECAUSE WE KNOW THE BIG ONE IS COMING - AND SO OUR ECONOMY CAN RECOVER AS QUICKLY AS POSSIBLE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CELL PHONE COVERAGE:</Identifier>
        <ReturnReference>FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:</ReturnReference>
        <Explanation>A YEAR AGO, LEADERS FROM THE PUBLIC AND PRIVATE SECTORS IDENTIFIED CELL PHONE COVERAGE AS ONE OF THE CRITICAL ISSUES IN SILICON VALLEY. AS CELL PHONES BECOME LESS EXPENSIVE AND MORE USEFUL, WE DEPEND ON THEM MORE FOR WORK, FOR KEEPING TRACK OF OUR KIDS, FOR SAFETY, AND EVEN FOR ENTERTAINMENT. CELL PHONE SERVICE FROM ONE SERVICE PROVIDER OR ANOTHER HAS GAPS, OFTEN IN RESIDENTIAL NEIGHBORHOODS AND ALONG SOME HEAVILY TRAFFICKED HIGHWAYS. JOINT VENTURE HAS A STRATEGY FOR FILLING IN THE COVERAGE GAPS. EXPENSES $695,410. INCLUDING GRANTS OF $0. REVENUE $0.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12:</ReturnReference>
        <Explanation>THE ORGANIZATION'S BYLAWS INCLUDE LANGUAGE ADDRESSING CONFLICT OF INTEREST POLICY AND SPECIFICALLY REQUIRE "THAT ALL ACTUAL AND APPARENT CONFLICTS BE DISCLOSED PROMPTLY AND FULLY TO ALL NECESSARY PARTIES". THE ORGANIZATION'S BOARD MEMBERS ARE NOT CURRENTLY REQUIRED TO SIGN ANNUAL WRITTEN DISCLOSURES OF CONFLICT OF INTERESTS. INSTEAD, THE RELATED ISSUES ARE HANDLED ON A CASE BY CASE BASIS. WHEN A SITUATION ARISES WITH POTENTIAL CONFLICT OF INTEREST, EVALUATION IS DONE. THE BOARD MEMBER WHO WAS DETERMINED TO HAVE A CONFLICT OF INTEREST WITH REGARDS TO A PARTICULAR TRANSACTION IS NOT ALLOWED TO VOTE ON RELATED MATTERS. THE ORGANIZATION IS CURRENTLY IN THE PROCESS OF DEVELOPING FORMAL WRITTEN POLICIES AND PROCEDURES RELATED TO MONITORING AND ENFORCING COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY TO MORE CLOSELY ALIGN WITH THE IRS BEST PRACTICES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART XI, LINE 2C</ReturnReference>
        <Explanation>THE ORGANIZATION'S EXECUTIVE COMMITTEE IS RESPONSIBLE FOR THE REVIEW AND APPROVAL OF THE ANNUAL REPORT AND FOR THE SELECTION OF THE INDEPENDENT AUDITORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPLIANCE WITH OTHER FILING REQUIREMENTS:</Identifier>
        <ReturnReference>FORM 990, PART V, LINES 7G &amp; 7H</ReturnReference>
        <Explanation>THE ORGANIZATION DID NOT RECEIVE ANY CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY OR ANY CARS, BOATS, AIRPLANES, OR OTHER VEHICLES. AS SUCH, NO FORMS 8899 OR 1098-C WERE REQUIRED TO BE FILED.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>