New Rising Ventures

“The board has the responsibility for reviewing the organiation's form 990 (including all pertinent schedules) before it is filed with the internal revenue service. A draft of the form 990 is ready for review by the board prior to the filing deadline. After the draft of the form 990 has been obtained by the board, they will hav time to complete their review. In conducting their review of the draft of the form 990, the board conducts a top-level or big-picture type of review. However, if the board deems it necessary to conduct a more detailed review of the form 990, then they contact the preparer of the form 990 to requeset copies of the relevant detailed tax return workpapers which they would like to see. Once the board has completed its initial review of the form 990, a meeting or conference call may be scheduled with the preparer of the form 990 to discuss any questions, comments, and suggested revisions identified by the board. The preparer of the form 990 makes any revisions to the form 990 as soon as feasibly possible to ensure that the form 990 is filed with the internal revenue service on a timely basis. All questions, comments, and suggested revisions set forth by the board are documended, along with any responses from the preparer of the form 990, if applicable.”

“The board of directors and officers prepare an annual disclosure of any possible conflicts of interest. These disclosures are reviewed by the organization's management team, and should any disclosure justify further discussion/determination, the full board would vote on the transaction without the board membmer or officer present for the deliberation. There were no instances of the organization having to enforce compliance with the conflict of interest policy.”

“While there was no compensation paid in 2024, the board will rely on comparability data to determine and approve the compensation of the executive director. The board will utilize resources such as similary situated exempt organizations in their areas to benchmark pay along with market information from other exempt organizations and for- profit organizations to assess the competitiveness and reasonabliess of the compensation. Once a decision has been made, a vote will be taken for approval by the board. Recusal of the individuals whose compensation is being determined is mandatory. A similar process is in place for determining compensation of the other key employees, if any.”

“While there was no compensation paid in 2024, the board will rely on comparability data to determine and approve the compensation of the executive director. The board will utilize resources such as similary situated exempt organizations in their areas to benchmark pay along with market information from other exempt organizations and for- profit organizations to assess the competitiveness and reasonabliess of the compensation. Once a decision has been made, a vote will be taken for approval by the board. Recusal of the individuals whose compensation is being determined is mandatory. A similar process is in place for determining compensation of the other key employees, if any.”

“The following organizational documents are available (for inspection or copying) at the organization's main office during normal business hours at no charge: -tax exemption application (form 1023) -internal revenue service determination letter -articles of incorporation -by-laws the public inspection copy of the organization's form 990 and form 990-t will be available (for inspection or copying) at the organization's main office during normal business hours at no charge, if applicable. The public inspection copy of the form 990 will not include the schedule of schedule a excess contributors or the schedule b names and addresses of contributors. The organization will make best efforts to ensure that the forms 990 and 990-t held at their main office are the most updated versions of such. For example, in the instance where a form 990 has been amended, the amended version of the form 990 or form 990-t will be the one available for public inspection. When responding to a public inspection request for any organizational document or form 990 (including form 990-t) by anyone, the organization fulfills such request in a timely fashion without inquiring as to the reason for the public inspection request. The following other document (most updated versions) is made available for inspection or copying) at the organization's main office during normal business hours at no charge: -conflict of interest policy”

“New rising ventures supports early-stage, nonpartisan entrepreneurs and activists transforming our democracy through innovation and bridges a critical gap not fulfilled by traditional grantmakers or venture capital. Our signature four activities include investments and grantmaking, portfolio support, field building, and convenings.”

“Theme: building the future of power and purpose 2024 marked the official launch of new rising ventures,signaling the next chapter in our power-building journey. From the beginning of the year, our small but mighty team worked with intention: frontloading our programmatic commitments to create the space for transition, growth, and deep infrastructural work. With our new governing board in place and tax-exempt status secured, nrv joined the field as an independent entity ready to redefine how civic innovation and responsible technology intersect. Behind the scenes, we completed the separation of both entities from tides, establishing full operational independence for nmv and nrv alike. The groundwork laid this year, from governance to brand building positions nrv for exponential growth in 2025, including the launch of a new fund that aligns with our democracy beyond the ballot framework. Even with constrained resource our small but mighty teamincluding staff and contractors whose compensation was primarily administered through our prior fiscal sponsorworked with intention. Demonstrating what strategic preparation and principled execution look like: resiliency with results (theme going into 2025). Because 2024 was new rising ventures first year operating as an independent 501(c)(3) following its transition from tides, most personnel, operational, and program costs continued to be administered and paid through our prior fiscal sponsor during the year. As a result, nrvs 2024 form 990 reflects minimal direct expenses and primarily the receipt and stewardship of start-up funding intended to support programmatic activities launching in 2025.”

“The 60,000 liability represents a payable for start-up support costs advanced during the transition period. The amount is unsecured, non- interest-bearing, and expected to be settled in 2025.”