2025-02-12T16:39:05-06:00 2024-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 18500 VON KARMAN AVE 10TH FLOOR IRVINE CA 92612 990 2023-07-01 481249429 CENTER FOR VENTURE EDUCATION CENT 6505617047 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 FERNANDO FABRE CEO 6505617047 2025-02-07 1 0 BRIAN YACKER P00401346 9492222999 2025-02-07 2023 2025-03-06 01:10:19Z FERNANDO FABRE 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 5890307 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. 7 7 11 7 6688 0 219166 1140110 5718805 4721438 38211 28759 74 0 5976256 5890307 853183 650352 0 0 2343044 2627050 0 0 6631 2572577 2973136 5768804 6250538 207452 -360231 101920529 109210677 5181748 4856138 96738781 104354539 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 4529538 650352 4721438 KAUFMAN FELLOWSHIP STARTS WITH A 2-YEAR EDUCATION PROGRAM DESIGNED TO TEACH BEST PRACTICES IN VENTURE CAPITAL ALLOCATION. THROUGH A STRUCTURED CURRICULUM, PEER LEARNING, AND SELF-AWARENESS, FELLOWS BECOME BETTER LEADERS, BETTER INVESTORS, AND BUILD BETTER VC FIRMS. IN JUNE 2024, 59 FELLOWS GRADUATED, 60 ARE HALFWAY THROUGH AND 57 JUST STARTED. 4529538 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 9 0 1 11 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 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 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 JEFFREY HARBACH CEO (UNTIL 12/2023) 39.00 1.00 X 401000 0 80866 LISA DOHERTY VP OF FINANCE 36.00 4.00 X 244125 0 30405 KIRSTEN OWENS CHIEF OF STAFF 40.00 X 218661 0 26105 KATIE SARRO HEAD OF MARKETING 40.00 X 221989 0 17141 MARYANN ALSPAUGH HEAD OF PROGRAM 40.00 X 142750 0 29888 KATLYN MEASE HEAD OF RECRUITING 40.00 X 159299 0 13060 FERNANDO FABRE CEO (STARTED 01/2024) 39.00 1.00 X 0 0 0 MELISSA RICHLEN BOARD CHAIR 4.00 X X 0 0 0 KAREN KERR SECRETARY 1.00 X X 0 0 0 ALLEN TAYLOR DIRECTOR 1.00 X 0 0 0 MARLON NICHOLS DIRECTOR 1.00 X 0 0 0 CHRISTINE KENNA DIRECTOR 1.00 X 0 0 0 ITXASO DEL PALACIO DIRECTOR 1.00 X 0 0 0 SUSAN MASON DIRECTOR 2.00 X 0 0 0 1387824 0 197465 6 0 1 0 0 1140110 1140110 TUITION & APPLICATIONS 611600 4721438 4721438 4721438 28759 6688 22071 5890307 4721438 6688 22071 390126 390126 260226 260226 1326666 720776 605890 1090514 762334 328180 23261 23261 60820 57054 3766 125789 88256 37533 2895 2895 54485 54485 183864 183864 491068 252593 238475 132617 125986 6631 486762 446676 40086 33970 33970 372581 300709 71872 1169808 1169808 9956 6985 2971 28451 16764 11687 LOSS ON DISP. OF ASSET 6679 6679 6250538 4529538 1714369 6631 3726213 915524 157345 229064 48387 96198 5897 4439 18091 1458 97850526 107891263 119967 77170 101920529 109210677 303749 359117 4877999 4497021 5181748 4856138 X 96579934 104154539 158847 200000 96738781 104354539 101920529 109210677 X -360231 7987013 -11024 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29979207 3895783 4593693 183863 38284820 25748020 2901663 1466078 136554 29979207 7063288 20260274 -1555390 20152 25748020 6600000 463288 7063288 1.00000 0.00000 0.00000 0 0 5897 4439 1458 1458 PRIVATE EQUITY PARTNERSHIPS 107414512 F INVESTMENT IN SUBSIDIARY 476751 F 107891263 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 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE GLOBAL SUMMIT 1072744 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS 79333 SOUTH ASIA 0 0 GRANTS 70524 SOUTH AMERICA 0 0 GRANTS 66215 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS 44154 0 0 0 0 0 0 1332970 0 1332970 SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 9 79333 TUITION REDUCTION SCHOLARSHIPS SOUTH ASIA 6 70524 TUITION REDUCTION SCHOLARSHIPS SOUTH AMERICA 6 66215 TUITION REDUCTION SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 6 44154 TUITION REDUCTION 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. 1 SCHOLARSHIPS 39 390126 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 (UNTIL 12/2023) 401000 0 0 0 0 0 37603 0 43263 0 481866 0 0 0 LISA DOHERTY VP OF FINANCE 208125 0 36000 0 0 0 10000 0 20405 0 274530 0 0 0 KIRSTEN OWENS CHIEF OF STAFF 182961 0 35700 0 0 0 10000 0 16105 0 244766 0 0 0 KATIE SARRO HEAD OF MARKETING 194989 0 27000 0 0 0 8500 0 8641 0 239130 0 0 0 MARYANN ALSPAUGH HEAD OF PROGRAM 123250 0 19500 0 0 0 5000 0 24888 0 172638 0 0 0 KATLYN MEASE HEAD OF RECRUITING 138299 0 21000 0 0 0 5000 0 8060 0 172359 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 -11,024. 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 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 831055189 INVESTMENT TX N/A EXCLUDED -13203 446271 0 0 0.66000 CVE CAPITAL 836 57TH STREET SUITE 583 SACRAMENTO CA 95819 205754276 INVESTMENT MANAGEMENT SERVICES DE CENTER FOR VENTURE EDUCATION C 33304 553920 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0