Venture Capital Foundation
- Assets
- $6.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 12/2017
- Data as of
- 12/2021
- EIN
- 47-4114024
Organization Overview
Venture Capital Foundation, operating under the name Venture Forward, is located in Washington, DC. The organization was established in 2017. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venture Forward is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
VENTURE FORWARD IS A NON-PROFIT FOUNDATION WITH A MISSION IS TO DIVERSIFY, EDUCATE, AND EMPOWER THE VENTURE CAPITAL INVESTOR CLASS TO ADVANCE THE INDUSTRY AND MAXIMIZE IMPACT AND RETURNS. WE PROVIDE EDUCATION, RESOURCES, AND CONNECTIONS TO DRIVE INTERSECTIONAL DIVERSITY WITHIN THE VENTURE CAPITAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HOSTS THE FOLLOWING EVENTS: VC UNIVERSITY ONLINE IS A FOUNDATIONAL CERTIFICATE COURSE ON VENTURE FINANCE, CREATED IN 2019 THROUGH THE PARTNERSHIP OF NVCA, VENTURE FORWARD, AND STARTUP@BERKELEYLAW AT THE UC BERKELEY SCHOOL OF LAW. LP OFFICE HOURS (LPOH) IS AN OPPORTUNITY FOR EMERGING VC FUND MANAGERS FROM DIVERSE BACKGROUNDS TO HAVE CANDID CONVERSATIONS WITH LPS, EXPERIENCED GPS, AND INDUSTRY ADVISORS, AT A CURATED, HALF-DAY EVENT.
THE VC HUMAN CAPITAL SURVEY, POWERED BY NVCA, VENTURE FORWARD, AND DELOITTE, IS CONDUCTED BIENNIALLY AND CAPTURES CRITICAL DATA ON THE WORKFORCE AT VC FIRMS, INCLUDING THE DEMOGRAPHICS WITHIN THE VC INDUSTRY AND THE CURRENT STATE OF DIVERSITY, EQUITY, AND INCLUSION ACROSS THE INDUSTRY. THE SURVEY IS AN EDUCATIONAL RESOURCE FOR VC FIRMS TO BENCHMARK AND UNDERSTAND HOW TO EXPAND THE DIVERSITY OF THEIR TEAMS AND PORTFOLIO. THE THIRD EDITION OF THE SURVEY WAS RELEASED IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Leach Secretary | OfficerTrustee | 0.3 | $0 |
Robert Bobby Franklin Chair | OfficerTrustee | 1 | $0 |
Christy Chin Treasurer | OfficerTrustee | 0.3 | $0 |
Maryam Haque Executive Director | Officer | 36 | $0 |
Jennifer Friel Goldstein Director | Trustee | 0.3 | $0 |
Charles Hudson Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $571,871 |
| Noncash contributions included in lines 1a–1f | $10,330 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $571,871 |
| Total Program Service Revenue | $536,713 |
| Investment income | $4,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,112,966 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $578,819 |
| Pension plan accruals and contributions | $25,786 |
| Other employee benefits | $23,047 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $575 |
| Fees for services: Accounting | $15,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,543 |
| Advertising and promotion | $0 |
| Office expenses | $4,167 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,748 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,188 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $867,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,928 |
| Savings and temporary cash investments | $5,097,478 |
| Pledges and grants receivable | $1,308,304 |
| Accounts receivable, net | $104,019 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $23,771 |
| Investments—publicly traded securities | $452 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,784,952 |
| Accounts payable and accrued expenses | $619 |
| Grants payable | $0 |
| Deferred revenue | $60,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $835,531 |
| Total liabilities | $896,150 |
| Net assets without donor restrictions | $4,580,498 |
| Net assets with donor restrictions | $1,308,304 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,784,952 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Venture Capital Foundation has recieved totaling $267,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $114,000 |
Dixon & Carol Doll Family Foundation Wilmington, DE PURPOSE: PLEDGE FUND | $50,000 |
Frisbie Family Foundation Boston, MA PURPOSE: CHARITABLE | $50,000 |
Dorsey Foundation Inc Indianapolis, IN PURPOSE: GENERAL | $25,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $15,000 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norfolk State University Research And Innovation Foundation Norfolk, VA | $25,278,732 | $5,808,933 |
Small Business Majority Foundation Inc Washington, DC | $4,020,911 | $5,051,591 |
Black Girl Ventures Foundation Fort Belvoir, VA | $2,941,094 | $3,288,394 |
Prince Georges Financial Services Corporation Largo, MD | $6,191,541 | $2,663,412 |
National Small Business United Washington, DC | $916,029 | $2,645,028 |
Capital Region Minority Supplier Development Council Inc Silver Spring, MD | $1,993,070 | $2,779,986 |
Harbor Bank Of Maryland Community Development Corporation Baltimore, MD | $1,613,507 | $752,542 |
Emerging Technology Centers Inc Baltimore, MD | $553,000 | $1,006,591 |
Engine Advocacy Washington, DC | $978,152 | $1,095,055 |
Venture Capital Foundation Washington, DC | $6,784,952 | $1,112,966 |
Startup Virginia Richmond, VA | $1,761,356 | $941,595 |
Dr William Es Flory Small Business Development Center Inc Manassas, VA | $74,561 | $336,768 |