Abqid Inc

“William (bill) bice and paul short are in a business relationship.”

“The form 990 is reviewed by the outsourced cfo and the executive director. Once the review is finished and any revisions made, a complete copy is provided to the board prior to filing.”

“Annually each officer and member of a committee with board designated powers shall sign a statement that affirms each person: a. Has received a copy of the conflict of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy.”

“The compensation is approved by the independent members of the board while following the organization's conflict of interest policy. Comparibility data is used in determining the compensation packages, the compensation package is approved in advance of payment, and a contemporaneous written record of the deliberation and decision is maintained.”

“Governing documents, conflict of interest policy and financial statements are all readily available to the public upon request at abqid, inc. Offices during regular business hours.”

“The principal purpose of abqid, inc. Is to engage economic development in the greater albuquerque, new mexico area by promoting, encouraging, and developing entrepreneurship through educational and training programs as well as providing capital to startups through a private equity fund it formed.”

“- the abqid accelerator - this is a three-month, intensively mentored, curriculum-based program that provides a $20,000 investment from abqid fund i lp in exchange for 6% equity in an entrepreneur's startup. Ten startups (nominally) are selected for the program, annually, with the objective of taking them from a conceptual stage to a minimum viable product (mvp) that can be tested with prospective, early-adopter type customers (those sufficiently appreciative of the value of the product or service to be tolerant of an incomplete or unreliable product or service). As noted, the investments are made through a private equity fund that abqid formed for this purpose. Abqid conducts the educational portion of this program. In 2015, there were 104 applicants, 26 pitches, 10 teams and 700+ hours of mentor time. Notably, 50% of those 10 teams had at least 1 female founder, which is significantly above the national average. - startup weekend albuquerque - is a 54-hour weekend event, during which groups of developers, business managers, startup enthusiasts, marketing gurus, graphic artists and more pitch ideas for new startup companies, form teams around those ideas, and work to develop a working prototype, demo, or presentation by sunday evening. In 2015, there were 5 startup weekend events held with 110 entrepreneurs served. - entrepreneurial bootcamp - unlike typical entrepreneurial programs that focus on business formation, this program is entirely based on understanding the customer validation process. In 2015, there were 11 bootcamp events held with 309 entrepreneurs served. - ideahacks - are collaborative sessions where we use creative thinking to generate a series of new ideas then explore their limitless possibilities. Idea hacks eliminate the constraints that normally stifle innovation. We take big problems and apply our individual and collective knowledge, experience and creativity without rules for the solutions we create. We tackle real problems and attempt to change the conversation in a big way. The outcomes tend to be original and provide new directions to experiment on truly novel business models. In 2015, there were 5 events held with 6 entrepreneurs served. - cofounder finding events - similar to the startup weekend format, at cofounder finding events entrepreneurs pitch ideas for new startup companies and attempt to attract cofounders for those ideas. In 2015, there were 3 cofounder finding events held with 95 entrepreneurs served.”

“The organization is required to have their financial statements audited by an independent accountant for 2015 under the nm charitable act since their revenues exceeded $500,000. This was discovered during the summer of 2016 and the audit has been scheduled for december of 2016.”