2024-02-07T18:10:48-06:00 2023-06-30 390859910 BAKER TILLY US LLP 18500 VON KARMAN AVE 10TH FLOOR IRVINE CA 92612 990 2022-07-01 481249429 CENTER FOR VENTURE EDUCATION CENT 6505617047 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 JEFFREY HARBACH VP OF FINANCE 6505617047 2024-02-05 1 JEFFREY HARBACH 999009999 0 BRIAN YACKER P00401346 9492222999 2024-02-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X JEFFREY HARBACH 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 5976256 0 X WWW.KAUFFMANFELLOWS.ORG X 2001 KS TO PROVIDE EXPERIENCE BASED EDUCATION AND RESEARCH INITIATIVES TO EDUCATE VENTURE INVESTORS IN A SCHOOL-TYPE SETTING USING AN ESTABLISHED CURRICULUM, A REGULAR FACULTY WITH EXTENSIVE EXPERIENCE IN VENTURE CAPITAL AND A TEAM OF EDUCATIONAL PROFESSIONALS. 5 5 11 5 -4 0 811655 219166 7235104 5718805 3392 38211 0 74 8050151 5976256 1087587 853183 0 0 2274158 2343044 0 0 6803 3323937 2572577 6685682 5768804 1364469 207452 109013402 101920529 5735222 5181748 103278180 96738781 TO PROVIDE EXPERIENCE BASED EDUCATION AND RESEARCH INITIATIVES TO EDUCATE VENTURE INVESTORS IN A SCHOOL-TYPE SETTING USING AN ESTABLISHED CURRICULUM, A REGULAR FACULTY WITH EXTENSIVE EXPERIENCE IN VENTURE CAPITAL AND A TEAM OF EDUCATIONAL PROFESSIONALS. 0 0 4395725 853183 5718805 KAUFFMAN FELLOWS PROGRAM - 59 NEW KAUFFMAN FELLOWS HAVE BEEN SELECTED FROM AN APPLICANT POOL OF 260. THE NEW CLASS IS FAIRLY EVENLY DIVIDED BETWEEN LIFESCIENCES, FINANCIAL SERVICES, INFORMATION TECHNOLOGY AND GENERAL SERVICES. APPROXIMATELY 46% OF THE CLASS ARE INTERNATIONAL INCLUDING THOSE FROM THE MIDDLE EAST, LATIN AMERICA, ASIA, AND EUROPE. DUE TO COVID, THE PROGRAM WAS EXTENDED BEYOND 2 YEARS AND 61 FELLOWS GRADUATED IN NOVEMBER 2022, AN ADDITIONAL 57 GRADUATED IN JUNE 2023 AND 59 ARE HALFWAY THROUGH THE PROGRAM AND WILL GRADUATE IN JUNE 2024. 4395725 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 1 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 13 0 1 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 CA KS X LISA DOHERTY 6505617047 3207 RANCH ROAD 620 S SUITE 200 AUSTIN TX 78738 JEFFREY HARBACH CEO 39.00 1.00 X 457446 0 55463 NATASHA FUNK VP RECRUITING 40.00 X 295000 0 31212 KIRSTEN OWENS CHIEF OF STAFF 40.00 X 208250 0 37605 LISA DOHERTY VP OF FINANCE 37.00 3.00 X 193200 0 35793 KATHERINE SARRO DIRECTOR OF MARKETING 40.00 X 200500 0 9711 JACQUELINE HUGHES DIRECTOR OF EVENTS 40.00 X 173125 0 21659 AVA ALEMAZKOOR DIRECTOR OF NETWORK 40.00 X 169500 0 9027 MARYANN ALSPAUGH DIRECTOR OF PROGRAM 40.00 X 128250 0 27603 MELISSA RICHLEN BOARD CHAIR 4.00 X X 0 0 0 KAREN KERR SECRETARY 1.00 X X 0 0 0 SUSAN MASON DIRECTOR 2.00 X 0 0 0 ALLEN TAYLOR DIRECTOR 1.00 X 0 0 0 MARLON NICHOLS DIRECTOR 1.00 X 0 0 0 1825271 0 228073 9 0 1 0 0 219166 219166 TUITION & APPLICATIONS 611600 5718805 5718805 5718805 38211 -4 38215 74 74 5976256 5718805 -4 38289 544598 544598 308585 308585 978468 557667 420801 916029 692001 224028 25338 18192 7146 298258 237636 60622 124951 89712 35239 87199 87199 51375 51375 136554 136554 404148 348518 55630 136065 129262 6803 121210 94621 26589 30136 30136 2616 1907 709 452149 337579 114570 1112520 1109922 2598 18591 13553 5038 20014 11098 8916 5768804 4395725 1366276 6803 4907249 3726213 367646 157345 131953 48387 62400 44309 36682 18091 103529022 97850526 40850 119967 109013402 101920529 506990 303749 5228232 4877999 5735222 5181748 X 102948159 96579934 330021 158847 103278180 96738781 109013402 101920529 X 207452 -6771963 25112 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25748020 2901663 1466078 136554 29979207 7063288 20260274 -1555390 20152 25748020 6600000 463288 7063288 1.00000 0.00000 0.00000 0 0 62400 44309 18091 18091 PRIVATE EQUITY PARTNERSHIPS 97362751 F INVESTMENT IN SUBSIDIARY 487775 F 97850526 X PART V, LINE 4: LONG TERM FINANCIAL STABILITY OF THE ORGANIZATION WHICH WOULD REDUCE RELIANCE ON TUITION AND ENABLE MORE SIGNIFICANT SCHOLARSHIPS. PART X, LINE 2: CVE IS RECOGNIZED AS A PUBLIC CHARITY EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE INTERNAL REVENUE CODE AND SIMILAR CODE SECTION OF THE CALIFORNIA REVENUE AND TAXATION CODE, IS SUBJECT TO INCOME TAX. CVEC IS A CORPORATION THAT IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. CVEC'S WHOLLY-OWNED SUBSIDIARY, THE LLC, IS CONSIDERED TO BE A DISREGARDED ENTITY AND ITS INCOME OR LOSS ARE REPORTED ON THE TAX RETURNS OF CVEC. CVEC FILES SEPARATE FEDERAL AND STATE TAX RETURNS. EACH YEAR MANAGEMENT CONSIDERS WHETHER ANY MATERIAL TAX POSITIONS THE ORGANIZATION HAS TAKEN ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. MANAGEMENT BELIEVES THAT ANY POSITIONS THE ORGANIZATION HAS TAKEN ARE SUPPORTED BY SUBSTANTIAL AUTHORITY AND, HENCE, DO NOT NEED TO BE MEASURED OR DISCLOSED IN THESE FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE CENTER FOR VENTURE EDUCATION AND THE KAUFFMAN FELLOWS PROGRAM ADMIT STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND OTHER SCHOOL-ADMINISTERED PROGRAMS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICE CONFERENCE 381075 EAST ASIA AND THE PACIFIC 0 0 GRANTS 13333 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS 82121 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS 21818 SOUTH ASIA 0 0 GRANTS 106616 NORTH AMERICA 0 0 GRANTS 13333 SOUTH AMERICA 0 0 GRANTS 71364 0 0 0 0 0 0 689660 0 689660 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 1 13333 REDUCED TUITION SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 10 82121 REDUCED TUITION SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 4 21818 REDUCED TUITION SCHOLARSHIPS SOUTH ASIA 11 106616 REDUCED TUITION SCHOLARSHIPS NORTH AMERICA 1 13333 REDUCED TUITION SCHOLARSHIPS SOUTH AMERICA 7 71364 REDUCED TUITION 0 0 0 0 0 0 PART I, LINE 2: FINANCIAL ASSISTANCE IS IN THE FORM OF REDUCTION OF TUITION. THE FELLOW PROGRAM SPANS OVER 2 YEARS AND THE ORGANIZATION PROVIDES INSTRUCTIONAL MODULES THROUGHOUT THE DURATION OF THE PROGRAM. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 41 544598 PART I, LINE 2: FINANCIAL ASSISTANCE IS IN THE FORM OF REDUCTION OF TUITION. THE FELLOW PROGRAM SPANS OVER 3 YEARS AND THE ORGANIZATION PROVIDES INSTRUCTIONAL MODULES THROUGHOUT THE DURATION OF THE PROGRAM. X 0 0 0 0 0 0 0 0 0 JEFFREY HARBACH CEO 402446 0 55000 0 0 0 12200 0 43263 0 512909 0 0 0 NATASHA FUNK VP RECRUITING 250000 0 45000 0 0 0 0 0 31212 0 326212 0 0 0 KIRSTEN OWENS CHIEF OF STAFF 174250 0 34000 0 0 0 11300 0 26305 0 245855 0 0 0 LISA DOHERTY VP OF FINANCE 165250 0 27950 0 0 0 8800 0 26993 0 228993 0 0 0 KATHERINE SARRO DIRECTOR OF MARKETING 175000 0 25500 0 0 0 0 0 9711 0 210211 0 0 0 JACQUELINE HUGHES DIRECTOR OF EVENTS 152500 0 20625 0 0 0 5000 0 16659 0 194784 0 0 0 AVA ALEMAZKOOR DIRECTOR OF NETWORK 150000 0 19500 0 0 0 0 0 9027 0 178527 0 0 0 MARYANN ALSPAUGH DIRECTOR OF PROGRAM 120000 0 8250 0 0 0 4100 0 23503 0 155853 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE AN EXECUTIVE COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B DRAFT COPIES OF THE TAX RETURN ARE EMAILED TO THE BOARD PRESIDENT, AUDIT COMMITTEE AND TREASURER FOR REVIEW. THE CEO & PRESIDENT AND CONTROLLER OF THE ORGANIZATION REVIEW FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER OR OTHER INTERESTED PERSON IS REQUIRED TO DISCLOSE ANY CONFLICT OF INTEREST IF/WHEN IT ARISES. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. DISCUSSIONS AND DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 15 BOARD EXECUTIVE COMMITTEE REVIEWS THE PERFORMANCE OF THE CEO AND DETERMINES SALARY AND BONUS BASED UPON GENERAL KNOWLEDGE AND EMAILS CHANGES TO THE CEO AND THE DIRECTOR OF FINANCE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY IN SUBSIDIARY 112. BAD DEBT 25,000. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. KAUFFMAN FELLOWS FUND GP LP 3207 RANCH ROAD 620 SOUTH SUITE 200 AUSTIN TX 78738 831055189 INVESTMENT TX N/A EXCLUDED -13703 459474 0 0 0.66970 CVE CAPITAL 3207 RANCH ROAD 620S AUSTIN TX 78738 205754276 INVESTMENT MANAGEMENT SERVICES DE CENTER FOR VENTURE EDUCATION C 33305 487775 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0