New Venture Fund

“Eric kessler, wilbur priester, and andrew schulz have a business relationship.”

“Arabella advisors, a nationwide consulting firm with expertise in philanthropy and nonprofit organization management, provides management and administrative services to new venture fund. So that our projects can focus entirely on their philanthropic and charitable goals, arabella advisors ensures that new venture fund and its projects comply with federal, state, and local regulations, and the firm provides other administrative functions for new venture fund, including hr, payroll and legal support services.”

“Upon receipt of the completed form 990 from nvf's independent tax accountant, the organization's management and legal counsel reviews a draft of the form; adjustments are made, as necessary. Nvf then sends the completed form 990 to all members of the board of directors for review and comment and, upon addressing all comments, is filed with the internal revenue service.”

“All persons covered by the organization's conflict of interest policy are required to declare conflicts of interest annually. Covered individuals cannot vote on matters before the board when they have a conflict in the matter. Disinterested members must determine whether or not there are any suitable alternatives to potential transactions that cause conflict. If a covered person is found to be in violation of this policy, it may be cause for removal from the board of directors.”

“Compensation for nvf's president is reviewed by the board of directors, which utilizes comparability data to substantiate the reasonableness of the compensation package. The organization does not directly compensate any additional officers or key employees. Accordingly, form 990, part vi, section b, line 15b has been marked "no", as mandated in the form 990 instructions.”

“Nvf makes its form 1023, application for recognition of exemption, available for public inspection upon request. Those materials include the fund's initial governing documents, conflict of interest policy, and other policies. The fund does not make its financial statements available to the public.”

“Consultants: communication: program service expenses 11,852,210. Management and general expenses 69,814. Fundraising expenses 0. Total expenses 11,922,024. Consultants: digital: program service expenses 1,126,076. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,126,076. Consultants: event coordination/management: program service expenses 1,401,899. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,401,899. Consultants: government relations: program service expenses 1,526,657. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,526,657. Consultants: media/advertising: program service expenses 3,039,278. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,039,278. Consultants: project management: program service expenses 31,973,180. Management and general expenses 88,113. Fundraising expenses 0. Total expenses 32,061,293. Consultants: project support: program service expenses 5,847,021. Management and general expenses 202,974. Fundraising expenses 0. Total expenses 6,049,995. Consultants: research & evaluation: program service expenses 7,302,615. Management and general expenses 9,650. Fundraising expenses 0. Total expenses 7,312,265. Consultants: technical assistance: program service expenses 1,212,412. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,212,412. Consultants: technology: program service expenses 768,140. Management and general expenses 17,599. Fundraising expenses 0. Total expenses 785,739. Other professional fees/consultants: program service expenses 1,606,197. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,606,197.”

“Reversal of prior year pledges/contributions -4,692,327.”