2024-05-15T16:49:30-05:00 2023-06-30 390859910 BAKER TILLY US LLP 2055 E WARNER RD STE 101 TEMPE AZ 85284 990 2022-07-01 882595973 ARIZONA VENTURE DEVELOPMENT CORPORATION ARIZ 9544681748 530 EAST MCDOWELL ROAD 107-503 PHOENIX AZ 85004 ANDREW LOMBARD PRESIDENT & CEO 9544681748 2024-05-14 1 ANDREW LOMBARD 999009999 0 COLETTE KAMPS CPA P00367616 4808394900 2024-05-14 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z X ANDREW LOMBARD 530 EAST MCDOWELL ROAD 107-503 PHOENIX AZ 85004 8243963 0 X WWW.AZVENTURECAP.COM X 2022 AZ TO PROMOTE ACCESS TO EQUITY CAPITAL TO UNDERREPRESENTED BUSINESSES, CATALYZE PRIVATE INVESTMENT, AND FUEL ECONOMIC GROWTH AND GOOD JOBS IN ARIZONA. 8 8 3 8 0 0 8235035 0 8928 0 8243963 0 0 604009 0 0 574983 1178992 7064971 193525 7402095 143599 193525 7258496 X THE ARIZONA VENTURE DEVELOPMENT CORPORATION (AVC) IS A NONPROFIT ORGANIZATION ESTABLISHED TO PROMOTE ACCESS TO EQUITY CAPITAL TO UNDERREPRESENTED BUSINESSES, CATALYZE PRIVATE INVESTMENT, AND FUEL ECONOMIC GROWTH AND GOOD JOBS IN ARIZONA. 0 0 993612 8235035 OVER THE PAST 18 MONTHS, AVC HAS COMMITTED APPROXIMATELY $24.8M AND AS OF 6/30/23 HAS 9 PORTFOLIO COMPANIES AND IS STILL GROWING. THROUGH AVC INVESTMENT ALLOCATIONS, WE HAVE: CATALYZED $262M IN PRIVATE CAPITAL ANTICIPATED INCREASE OF $655M IN ARIZONA'S GROSS DOMESTIC PRODUCT (GDP) PROJECTED $33.8M INCREASE IN TAX REVENUE ESTIMATED 1,048 NEW HIGH-PAYING JOBS THROUGHOUT THE VALLEYAT AVC, WE REMAIN COMMITTED TO OUR MISSION OF CREATING AN INCLUSIVE AND DIVERSE INVESTMENT ECOSYSTEM THAT BREAKS DOWN BARRIERS FOR COMMUNITIES ACROSS THE STATE. OVER 50% OF OUR FUNDING HAS BEEN INVESTED IN BUSINESSES OWNED BY SOCIALLY AND ECONOMICALLY DISADVANTAGED INDIVIDUALS (SEDI). 993612 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 9544681748 530 EAST MCDOWELL ROAD 107-503 PHOENIX AZ 85004 KARL GENTLES MEMBER 0.00 0.25 X 0 0 0 PAUL HICKMAN CHAIRMAN 0.00 0.25 X X 0 0 0 CHERYL LOMBARD SECRETARY 0.00 0.25 X X 0 0 0 VADA MANAGER BOARD MEMBER 0.00 0.25 X 0 0 0 DANNY SEIDEN BOARD MEMBER 0.00 0.25 X 0 0 0 JIM SWANSON TREASURER 0.00 0.25 X X 0 0 0 SANDRA WATSON VICE CHAIRMAN 0.00 0.25 X X 0 0 0 GARY TRUJILLO BOARD MEMBER 0.00 0.25 X 0 0 0 ANDREW LOMBARD PRESIDENT & CEO 1.00 40.00 X 111188 0 11384 111188 0 11384 1 0 0 0 0 8235035 8235035 8928 8928 8243963 0 0 8928 X 257230 231507 25723 307474 276727 30747 2097 1888 209 37208 33487 3721 98838 98838 9142 9142 224600 207600 17000 126520 126520 56743 56743 43538 43538 15602 15602 1178992 993612 185380 0 193525 61122 7335035 0 5938 193525 7402095 143599 0 143599 X 193525 7258496 193525 7258496 193525 7402095 7064971 0 X 0 1 X 1 0 X 8235035 8235035 8235035 8235035 8235035 8928 8928 8243963 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 PANGAEA VENTURES IMPACT FUND, LP 2585035 F AZ-VC FUND, LLC 1950000 F SCHOLA, INC. 2000000 F PWR LAB, INC. 500000 F POLLS FOR MESSAGES, INC. 300000 F 7335035 8243963 0 8243963 0 8243963 1178992 0 1178992 0 1178992 FORM 990, PART VI, SECTION B, LINE 11B THE CEO WILL REVIEW THE DRAFT FORM 990 AND RECOMMEND APPROVAL FOR FILING TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS WILL REVIEW AND APPROVE BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AS PART OF AVC'S FISCAL YEAR-END, OFFICERS, DIRECTORS, AND KEY EMPLOYEES MUST COMPLETE AN ANNUAL ACKNOWLEDGMENT AND SIGN AVC'S CONFLICT-OF-INTEREST POLICY ELECTRONICALLY. ONCE COMPLETED, THEY ARE REVIEWED AND FILED FOR REFERENCE. IF A CONFLICT OF INTEREST EXISTS, ANY INDIVIDUALS INVOLVED DO NOT PARTICIPATE IN DISCUSSION OR VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION OBTAINS AND REVIEWS COMPARATIVE DATA FROM SIMILAR ORGANIZATIONS. ALONG WITH BASE SALARY AND BENEFITS, BONUS PERFORMANCE CRITERIA ARE ESTABLISHED AND REVIEWED BEFORE THE END OF THE FISCAL YEAR. THE COMPENSATION COMMITTEE APPROVES THE CALCULATIONS ANNUALLY AND APPROVES THE CEO EMPLOYMENT AGREEMENT WHEN NECESSARY. THE COMPENSATION OF THE OFFICERS OF THE ORGANIZATION IS DOCUMENTED IN THE MINUTES OF THE COMMITTEE AND BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 18 THE ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, AND PUBLIC COPIES OF THE FORM 990 ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. IT DOES NOT MAKE ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G CONTRACT LABOR: PROGRAM SERVICE EXPENSES 78,668. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 78,668. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 128,932. MANAGEMENT AND GENERAL EXPENSES 17,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 145,932.