Venture Outdoors Inc.

“The form 990, once completed, is provided electronically, or via facsimile to all board of directors members, as well as the organization management team for their review after input and feedback, edits are made if needed. This final version as submitted, is approved via a motion, and a vote of the board of directors.”

“An actual or potential conflict of interest exists when any of the following exist: 1) a director or a family member has a significant ownership or investment interest in or compensation relationship of more than 10% with an organization with which venture outdoors does or proposes to do business or an organization that competes with venture outdoors. "family member" includes a spouse, children and stepchildren and their spouses, parents and their spouses, siblings and their spouses, grandchildren and their spouses, in-laws, and domestic partners. 2) a director or a family member received remuneration for performing services for venture outdoors and venture outdoors is determining his or her remuneration. 3) a conflict also exists when a similar circumstance exists with respect to a family member of a director or company 10% owned by a director and his or her family members annually. Each director shall complete a disclosure statement reflecting his or her interests. Directors shall act in a manner intended to further the best interest of venture ourdoors. If at any time a director (1) has or may have an actual or potential conflict of interest or (b) is unable to act in the best interest of venture ourdoors on any issue because of a personal situation, employment, conflicting interest, or other reason, the director shall disclose the existence and circumstances of the actual or potential conflict, recuse himself or herself from voting on the subject, and leave the room while the matter is being discussed. Recusing himself or herself shall not prevent a director from participating in other activities or discussions where no conflict of interest exists.”

“The compensation for the executive director is determined through review with compatable salaries and contemporaneous substantiation within the board of directors and other independent persons. There are no other officers or key employees of the organization.”

“Venture outdoors' governing documents are available upon request”

“Non-cash expense - shared cfo -17,476.”

“On april 29, 2020, the organization received a paycheck protection program ("ppp") small business administration loan through first national bank, in the amount of $149,239. As permitted by u.s. Gaap, the organization elected to account for the ppp loan as a cost reimbursement grant. Accordingly, during the year ended december 31, 2020, $150,576 ($149,239 loan plus $1,337 of accrued interest) was recorded as grants and contributions within the statement of activities and changes in net assets, as qualifying expenses were incurred. The loan was formally forgiven on march 31, 2021. Qualified expenses incurred have been recorded according to their natural expense classification in the december 31, 2020 statement of functional expenses. The gain on the forgiveness is included in governmental contributions; therefore, the contribution is being reported on schedule b.”