Totals
- Total revenue
- $3,223,061
- Total expenses
- $2,871,906
- Contributions and grants received
- $3,116,359
- Grants paid
- $55,030
- Program service revenue
- $68,524
- Investment income
- $11,606
- Other revenue
- $26,572
- Total assets, end of year
- $3,255,603
- Total liabilities, end of year
- $856,605
- Net assets or fund balances, end of year
- $2,398,998
- Program services expenses (Part IX)
- $2,263,323
- Management and general expenses
- $374,407
- Fundraising expenses
- $234,176
- Program service expenses (Part III)
- $2,263,323
Program services were 78.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$26,500
-
1e · Government grants (contributions)
$444,792
-
1f · All other contributions, gifts and grants
$2,645,067
-
1g · Noncash contributions included above
$26,500
-
2a · Program service revenue: CONTRACT SERVICES
total $68,524 · related or exempt $68,524
-
3 · Investment income
total $11,606 · excluded $11,606
-
8a · Fundraising events: gross income
$61,171
-
8a · Fundraising events: contributions included on line 1c
$26,500
-
8b · Fundraising events: direct expenses
$42,788
-
8c · Net income from fundraising events
total $18,383 · excluded $18,383
-
11a · Other revenue: MISC. REVENUE
total $8,189 · excluded $8,189
-
11e · Other revenue, total
$8,189
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $55,030 · program services $55,030
-
5 · Compensation of officers, directors and key employees
total $285,942 · program services $107,863 · management and general $135,639 · fundraising $42,440
-
7 · Other salaries and wages
total $1,678,759 · program services $1,419,270 · management and general $135,813 · fundraising $123,676
-
8 · Pension plan contributions
total $3,732 · program services $3,029 · management and general $451 · fundraising $252
-
9 · Other employee benefits
total $163,907 · program services $141,287 · management and general $10,593 · fundraising $12,027
-
10 · Payroll taxes
total $165,057 · program services $133,948 · management and general $19,967 · fundraising $11,142
-
11b · Fees: legal
total $1,474 · management and general $1,474
-
11c · Fees: accounting
total $42,444 · management and general $42,444
-
11g · Fees: other
total $12,025 · program services $4,769 · fundraising $7,256
-
13 · Office expenses
total $87,067 · program services $66,679 · management and general $3,597 · fundraising $16,791
-
14 · Information technology
total $31,414 · program services $13,147 · management and general $11,488 · fundraising $6,779
-
16 · Occupancy
total $62,157 · program services $62,065 · management and general $92
-
17 · Travel
total $46,073 · program services $40,286 · management and general $1,373 · fundraising $4,414
-
20 · Interest
total $7,432 · management and general $7,432
-
23 · Insurance
total $46,234 · program services $44,602 · management and general $1,632
-
24a · Other expenses: PARTICIPANT TRAINING
total $93,538 · program services $92,588 · fundraising $950
-
24b · Other expenses: PROGRAM EVENTS
total $49,242 · program services $45,584 · management and general $176 · fundraising $3,482
-
24c · Other expenses: CONSTITUENT DEVELOPMENT
total $24,719 · program services $19,396 · management and general $623 · fundraising $4,700
-
24d · Other expenses: MISC. EXPENSE
total $8,311 · program services $8,044 · fundraising $267
-
24e · All other expenses
total $7,349 · program services $5,736 · management and general $1,613
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,111,415 · end of year $470,243
-
2 · Savings and temporary cash investments
end of year $2,270,511
-
3 · Pledges and grants receivable
beginning of year $481,438 · end of year $358,253
-
9 · Prepaid expenses and deferred charges
beginning of year $67,982 · end of year $106,589
-
10a · Land, buildings and equipment: cost or other basis
$10,786
-
10b · Land, buildings and equipment: accumulated depreciation
$10,786
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $50,056
-
15 · Other assets
beginning of year $0 · end of year $50,007
-
17 · Accounts payable and accrued expenses
beginning of year $207,017 · end of year $282,558
-
19 · Deferred revenue
end of year $181,818
-
24 · Unsecured notes and loans payable
beginning of year $489,123 · end of year $392,229
-
25 · Other liabilities
beginning of year $5,408 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $613,596 · end of year $822,467
-
28 · Net assets with donor restrictions
beginning of year $1,395,747 · end of year $1,576,531
Mission and programs · 2022
Mission
DEFY VENTURES' MISSION IS TO SHIFT MINDSETS TO GIVE PEOPLE WITH CRIMINAL HISTORIES THEIR BEST SHOT AT A SECOND CHANCE BY PROVIDING THEM WITH PERSONAL DEVELOPMENT, CAREER READINESS, AND ENTREPRENEURSHIP TRAINING. DEFY'S VISION IS TO CUT THE RECIDIVISM RATE IN HALF BY LEVERAGING ENTREPRENEURSHIP TO INCREASE ECONOMIC OPPORTUNITY AND TRANSFORM LIVES.
Activities or mission (Part I)
TO SHIFT MINDSETS AND GIVE PEOPLE WITH CRIMINAL HISTORIES THEIR BEST SHOT AT A SECOND CHANCE.
-
WE'RE PROUD OF DEFY'S 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:1.SERVED MORE THAN 6,900 ENTREPRENEURS IN TRAINING (EITS) IN OUR IN-PRISON AND POST-RELEASE PROGRAM. EITS COMPLETE A RIGOROUS SIX- TO NINE-MONTH CURRICULUM CULMINATING IN A BUSINESS PITCH COMPETITION AND GRADUATION AS PART OF THE IN-PRISON PROGRAM. THE POST-RELEASE PROGRAM INCLUDES WORKSHOPS, MENTORING, AND A BUSINESS INCUBATOR.2.ENGAGED 7,200+ EXECUTIVE VOLUNTEERS, INCLUDING VOLUNTEERS FROM HEDGE FUNDS, INVESTMENT BANKS, VENTURE CAPITAL AND PRIVATE EQUITY FIRMS, FORTUNE 500 COMPANIES, AND ENTREPRENEURIAL VENTURES. VOLUNTEERS SERVED AS BUSINESS PITCH COMPETITION JUDGES, MENTORS, AND RESUME COACHES.3.GROWN TO SERVE IN SEVEN STATES (NY, CT, NJ, CA, IL, WI, AND WA).4.SECURED NINE EMPLOYMENT PARTNERS TO SOURCE AND PROVIDE JOBS FOR RELEASED EITS WHO HAVE COMPLETED OUR IN-PRISON PROGRAM.5.RECORDED A ONE YEAR RECIDIVISM RATE OF LESS THAN 10%.6.RECORDED AN 84% EMPLOYMENT RATE FOR RELEASED EITS WHO HAVE COMPLETED OUR PROGRAM.7.LAUNCHED 175+ BUSINESSES, INCLUDING INCORPORATION AND SEED FUNDING.8.RAISED OVER $36.5 MILLION IN PRIVATE & PUBLIC FUNDING SINCE INCEPTION (2010).
Expenses $2,263,323 · Grants $55,030 · Revenue $68,524
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
John GarofoloJOHN GAROFOLO
CFO
- Total calculated
- $164,685
- From this org
- $146,354
- From related orgs
- $0
- Other
- $18,331
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $146,354
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $18,331
- Filer's total
- $164,685
-
Andrew GlazierANDREW GLAZIER
PRESIDENT & CEO
- Total calculated
- $121,057
- From this org
- $120,954
- From related orgs
- $0
- Other
- $103
- Hours/week
- 50
-
Julie Jackson-ForsbergJULIE JACKSON-FORSBERG
VP, LEARNING
- Total calculated
- $139,826
- From this org
- $110,616
- From related orgs
- $0
- Other
- $29,210
- Hours/week
- 50
-
Quan HuynhQUAN HUYNH
EXECUTIVE DIRECTOR, SOUTHERN CA
- Total calculated
- $116,200
- From this org
- $108,245
- From related orgs
- $0
- Other
- $7,955
- Hours/week
- 50
-
Christine CastilloCHRISTINE CASTILLO
VP, PROGRAMS
- Total calculated
- $112,775
- From this org
- $105,597
- From related orgs
- $0
- Other
- $7,178
- Hours/week
- 50
-
Brian KorbBRIAN KORB
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Ariel JaduszliwerARIEL JADUSZLIWER
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Kerry BennettKERRY BENNETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John DvorJOHN DVOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Marcus GloverMARCUS GLOVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael HugginsMICHAEL HUGGINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sonia KahlonSONIA KAHLON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sabrina MaciasSABRINA MACIAS
DIRECTOR (THRU Q1)
- Total calculated
- $0
- Hours/week
- 0.5
-
Coss MarteCOSS MARTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Nicole MillerNICOLE MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jonathan NeilJONATHAN NEIL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Cole RichmanCOLE RICHMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
April SmithAPRIL SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323189349307642
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