Bunker Labs Nfp Inc

“The form 990 was provided to the organization, reviewed by the ceo and ed, and made available to the governing board.”

“The conflict of interest policy notes that any board member who fails to disclose actual or possible conflict will be subject to the corrective actions of the board.”

“AVAILABLE UPON REQUEST”

“OTHER PROGRAM SERVICES 4: Entrepreneur Workshop Series - Breaking Barriers in Entrepreneurship is a virtual workshop series that facilitates business growth and support within Asian, Black, Hispanic, and female Veteran and military spouse communities. This eight-week virtual weekly meetup series is designed to create an immediate impact for businesses owned by military-connected members of historically underrepresented communities by providing access to business tools and resources, capital opportunities, mentorship, and a strong peer network. During the second half of 2021, Bunker Labs supported a total of 68 diverse entrepreneurs through cohorts for Latinx, Asian American, Female, and Black entrepreneurs. OTHER PROGRAM SERVICES 5: Other programs”

“There was no change in oversight process or selection process during the year”

“The Organization uses the term flow through funding to refer to funds granted to the Organization for the explicit purpose of being distributed to military veteran/military spouse entrepreneurs as prizes for pitch competitions. In fall 2021, the Organization secured a large commitment of pitch prize funding for a series of competitions that would take place during 2022. For this reason, the Statement of Activities reflects $300,000 in flow through revenue where donor restrictions has not yet been met as of December 31, 2021.”

“Organization changed fiscal year end from 6/30 to 12/31”

“Management has evaluated the impact of the COVID-19 pandemic and have concluded that the net effect on the Organizations financial position, results of its operations and cash flows were adversely affected. The Organization concluded FY21 with reduced cash reserves due to revenue losses during the pandemics first year, and during the second half of 2021 the Organization was then faced with opportunities to resume in-person programming and the need to determine strategies to do so. The Organization leveraged the pandemics disruption of in-person gatherings to revamp many aspects of our CEOcircle and Ambassador programs. Beginning in 2021, these programs would include multiple in-person fly-in forums. Due to the lifting of travel/gathering restrictions in late 2021, the Organization was able to formally relaunch both of these programs in fall 2021. This is reflected in the financial statements for July December 2021 as a significant uptick in travel and event expenses compared to the prior period. As discussed in the notes to the Organizations 2021 audit report, the Organization expects that programmatic expenses will grow with the resumption of in-person programming and continued scaling of our programs. However, the relaunch of in-person programming began late in 2021, and the financial statements for July December of that year like those for 2021 reflect abnormally low programmatic expenses. In 2022 and onward, the Organization expects programmatic expenses to make up a significantly larger portion of organizational expenditures than in 2020 and 2021. Overall, Management considers the donor base to be strong and dedicated, which allowed the Organization to adapt and manage through the COVID-19 pandemic.”