Civic Intelligence

Diversity VC Us Inc.

990EZ • Fiscal year 2023 • EIN 87-2116451

Jan 01, 2023 to Dec 31, 2023 • Filed on Mar 26, 2024

153 S Oxford Street 2Brooklyn, NY 11217

(609) 240-4508

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE U • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE U • <$500k nonprofits • Source year 2023

Net Margin

73rd percentile

28%

Higher net margin than 73% of similar nonprofits.

2023 filings • NTEE U • <$500k nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE U • <$500k nonprofits • Source year 2023

Asset Growth

92nd percentile

173%

Faster asset growth than 92% of similar nonprofits.

2023 filings • NTEE U • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

58th percentile

9.1%

Faster revenue growth than 58% of similar nonprofits.

2023 filings • NTEE U • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$69,951

Up $44,360 (+173%) from 2022

Net Assets

Up

$69,951

Up $46,360 (+197%) from 2022

Liabilities

Down

$0

Down $2,000 (-100%) from 2022

Revenue

Up

$130,928

Up $10,928 (+9.1%) from 2022

Expenses

Up

$94,365

Up $280 (+0.3%) from 2022

Net Income

Up

$36,563

Up $10,648 (+41%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80K$60K$40K$20K$0Assets 2022: $25,591Liabilities 2022: $2,000Net Assets 2022: $23,5912022Assets 2023: $69,951Liabilities 2023: $0Net Assets 2023: $69,9512023Assets 2024: $5,851Net Assets 2024: $5,8512024Assets 2025: $30,949Liabilities 2025: $85Net Assets 2025: $30,8642025

Highlighted filing

2023

Assets$69,951
Liabilities$0
Net Assets$69,951

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2022: $120,000Expenses 2022: $94,085Net Income 2022: $25,9152022Revenue 2023: $130,928Expenses 2023: $94,365Net Income 2023: $36,5632023Revenue 2024: $196,589Expenses 2024: $260,689Net Income 2024: -$64,1002024Revenue 2025: $231,697Expenses 2025: $206,684Net Income 2025: $25,0132025

Highlighted filing

2023

Revenue$130,928
Expenses$94,365
Net Income$36,563
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Mar 26, 2024
Return Version
2023v5.0
Gross Receipts
$130,928
Mission and Program Overview

Mission

Diversity VCs mission is to increase diversity in the venture capital industry by creating pathways into venture capital careers for individuals from underrepresented backgrounds and by supporting research, data, and ecosystem initiatives that promote equitable participation in venture capital.

Diversity VC US promotes diversity in the Venture Capital industry through thought leadership, career development, standard-setting and establishing best practices.

Program Services

DescriptionGrantsExpenses
Data & ResearchDiversity VC US has a team dedicated to data collection, research, and reporting on the state of diversity, equity, and inclusion in the venture capital ecosystem. In general, we plan to release a written report every 2 years summarizing the findings of our research. In the past, Diversity VC US has produced two reports (in 2019 and 2021) focused on the demographics of founders receiving venture capital funding.We collect information for these reports through publicly available and self-reported data from founders and investors. Typically, the team spends approximately 6 months ideating the topic for research, 4 months collecting data, 2 months analyzing data, and another 3-4 months publicizing our findings through events, press releases, and other media. The data & research team consists primarily of uncompensated volunteers who hold full-time, paid positions at other companies in or around the VC space (including VC funds, startups, and consulting firms). Each of these volunteers commit approximately 2 hours per week to data & research activities. Diversity VC US also plans to contract a project manager on an annual basis to manage the data collection and analysis. We anticipate paying this contractor an hourly wage commensurate with experience. The paid contractor is expected to commit 10-15 hours per week over the course of 3 months to project management. The team who conducts the data collection and research do so entirely virtually, meeting twice monthly through video conferencing software. Overall, Diversity VC US allocates approximately 40% of its total time to these activities. Data & research activities are funded by donations from sponsors, including but not limited to banks, consulting firms, law firms, startups, venture capital funds, and other related institutions. These sponsors specify their donations to be used towards a specific project, and donations are one-time (not recurring).This work furthers Diversity VC USs purpose by establishing a baseline upon which the VC industry can improve its DEI practices, and an accountability measure to do so. Through bi-annual reporting, we will be able to provide the industry with insight into its progress on DEI over time and perhaps more importantly, we can provide them with recommendations for how to achieve best practices as quickly as possible.-$33,972
Future VCDiversity VC US also has a team dedicated to Future VC, an internship and training program provided to aspiring venture capitalists. Diversity VC US works with a network of venture capital funds across the United States to source internship opportunities for talent from underrepresented backgrounds (as defined by race/ethnicity, gender, sexual orientation, socioeconomic status, disability status, veteran status, and/or immigration status). Once a year, we recruit and interview hundreds of candidates for consideration for internship slots provided by participating venture capital funds. Those candidates that are selected as interns by the funds are employed and paid directly by the fund they work for, with a salary that matches at least living wage for the city in which they live. The location of these placements vary, but is typically concentrated in major metro areas (New York, San Francisco, Chicago, Houston, etc.), with program coordination happening virtually. In addition to the internship that they find through participating VCs, candidates are also trained in basic knowledge for venture capital through a free, light curriculum delivered by volunteer instructors. Candidates are required to attend approximately 1 hour in a virtual session with an instructor to learn about a variety of topics related to venture capital. While these have been entirely virtual in the past, we do expect that we may have in-person gatherings at participating VCs offices in the future. The Future VC team is also comprised entirely of volunteers, who fall into two groups: program coordinators and instructors. Program coordinators are volunteers working directly with Diversity VC US to recruit, interview, and place candidates, and ultimately manage the candidates experience. These volunteers generally dedicate 2 hours a week to their activities. Instructors, meanwhile, are volunteers who work in venture capital who dedicate approximately one hour of time in total to instruct a session on a particular topic relevant to venture capital. Diversity VC does not pay interns, instructors, or volunteers that participate in the Future VC program.Internships take place for 8 weeks over the summer, and as such the time spent on the activity is heavily seasonal with a concentration on the summer months (June and July in particular). About 40% of Diversity VC USs overall time is allocated to this activity.This activity furthers our exempt purposes by providing a direct path for underrepresented talent to break into a venture capital job, thereby diversifying the venture capital workforce. To date, the efforts have been conducted without outside funding, but we do anticipate fundraising to hire a part-time program manager in the future. This individual will be paid hourly at a rate commensurate with experience.-$33,972
EventsFinally, Diversity VC USs all-volunteer events team hosts a series of in-person and virtual gatherings, including workshops and panels, aimed at furthering the progress of DEI in VC. Our past efforts have included launch events for our data and research reports, workshops among venture capitalists to identify areas for DEI improvement in the investment process, and panels with underrepresented talent in the venture capital industry to give career advice. These events typically occur once every quarter (4x per year) and are occasionally co-hosted with like-minded organizations. The preparation and hosting of these events accounts for approximately 20% of Diversity VC USs time. The activities have been funded through donations; individual sponsors will typically support one event per year. These events help further our exempt purposes by providing a forum for funds and individuals in the industry to learn and share best practices related to DEI in VC. We anticipate that the learnings from some of these events will lead to the creation of new initiatives within Diversity VC US or other organizations as we identify additional areas where we can lend our institutional knowledge.-$16,985
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sarah MillarPresidentPT$0--
Farooq AbasiSecretary-$0--
Doreen WongVP/Treasurer-$0--
Filing and Contact Details

Filer

Filer Name
Diversity VC US
EIN
87-2116451
Phone
6092404508
Address
153 S Oxford Street 2, Brooklyn, NY 11217

Signing Officer

Name
Sarah Millar
Title
President
Signed
2024-03-26
Discuss with paid preparer
Yes

Preparer

Firm
Harmon Burstyn CPA
Address
1012 HACIENDA DR, WALNUT CREEK, CA 94598
Preparer
Harmon Burstyn
Phone
9252863522
Supplemental Narrative

Additional Explanations

Other Expenses.1005

Travel $12953

Other Expenses.1007

Conferences, Conventions, and Meetings $20008

Other Expenses.1012

Insurance $3662

Other Expenses.1

Payroll Fees $162

Other Expenses.2

Telephone, Telecommunications $47

Other Expenses.3

Books, Subscriptions, Ref $38

Other Expenses.4

Other $25

Other Assets.1011

Prepaid Expenses and Deferred Charges - Beginning $2643 Prepaid Expenses and Deferred Charges - Ending $883

Total Liabilities.1001

Accounts Payable and Accrued Expenses - Beginning $2000 Accounts Payable and Accrued Expenses - Ending $0

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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0Data & ResearchDiversity VC US has a team dedicated to data collection, research, and reporting on the state of diversity, equity, and inclusion in the venture capital ecosystem. In general, we plan to release a written report every 2 years summarizing the findings of our research. In the past, Diversity VC US has produced two reports (in 2019 and 2021) focused on the demographics of founders receiving venture capital funding.We collect information for these reports through publicly available and self-reported data from founders and investors. Typically, the team spends approximately 6 months ideating the topic for research, 4 months collecting data, 2 months analyzing data, and another 3-4 months publicizing our findings through events, press releases, and other media. The data & research team consists primarily of uncompensated volunteers who hold full-time, paid positions at other companies in or around the VC space (including VC funds, startups, and consulting firms). Each of these volunteers commit approximately 2 hours per week to data & research activities. Diversity VC US also plans to contract a project manager on an annual basis to manage the data collection and analysis. We anticipate paying this contractor an hourly wage commensurate with experience. The paid contractor is expected to commit 10-15 hours per week over the course of 3 months to project management. The team who conducts the data collection and research do so entirely virtually, meeting twice monthly through video conferencing software. Overall, Diversity VC US allocates approximately 40% of its total time to these activities. Data & research activities are funded by donations from sponsors, including but not limited to banks, consulting firms, law firms, startups, venture capital funds, and other related institutions. These sponsors specify their donations to be used towards a specific project, and donations are one-time (not recurring).This work furthers Diversity VC USs purpose by establishing a baseline upon which the VC industry can improve its DEI practices, and an accountability measure to do so. Through bi-annual reporting, we will be able to provide the industry with insight into its progress on DEI over time and perhaps more importantly, we can provide them with recommendations for how to achieve best practices as quickly as possible.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1Future VCDiversity VC US also has a team dedicated to Future VC, an internship and training program provided to aspiring venture capitalists. Diversity VC US works with a network of venture capital funds across the United States to source internship opportunities for talent from underrepresented backgrounds (as defined by race/ethnicity, gender, sexual orientation, socioeconomic status, disability status, veteran status, and/or immigration status). Once a year, we recruit and interview hundreds of candidates for consideration for internship slots provided by participating venture capital funds. Those candidates that are selected as interns by the funds are employed and paid directly by the fund they work for, with a salary that matches at least living wage for the city in which they live. The location of these placements vary, but is typically concentrated in major metro areas (New York, San Francisco, Chicago, Houston, etc.), with program coordination happening virtually. In addition to the internship that they find through participating VCs, candidates are also trained in basic knowledge for venture capital through a free, light curriculum delivered by volunteer instructors. Candidates are required to attend approximately 1 hour in a virtual session with an instructor to learn about a variety of topics related to venture capital. While these have been entirely virtual in the past, we do expect that we may have in-person gatherings at participating VCs offices in the future. The Future VC team is also comprised entirely of volunteers, who fall into two groups: program coordinators and instructors. Program coordinators are volunteers working directly with Diversity VC US to recruit, interview, and place candidates, and ultimately manage the candidates experience. These volunteers generally dedicate 2 hours a week to their activities. Instructors, meanwhile, are volunteers who work in venture capital who dedicate approximately one hour of time in total to instruct a session on a particular topic relevant to venture capital. Diversity VC does not pay interns, instructors, or volunteers that participate in the Future VC program.Internships take place for 8 weeks over the summer, and as such the time spent on the activity is heavily seasonal with a concentration on the summer months (June and July in particular). About 40% of Diversity VC USs overall time is allocated to this activity.This activity furthers our exempt purposes by providing a direct path for underrepresented talent to break into a venture capital job, thereby diversifying the venture capital workforce. To date, the efforts have been conducted without outside funding, but we do anticipate fundraising to hire a part-time program manager in the future. This individual will be paid hourly at a rate commensurate with experience.
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