TY 2019 Form 990 Schedule O

efile Public Visual Render ObjectId: 202043389349300039 - Submission: 2020-12-03 TIN: 20-5806345

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2019

Open to Public
Inspection

Name of the organization

NEW VENTURE FUND

Employer identification number

20-5806345

Return Reference	Explanation
FORM 990, PAGE 1, SECTION B:	THE ORGANIZATION IS FILING AN AMENDED FORM 990 FOR THE 2019 TAX YEAR TO MAKE A CORRECTION TO THE LIST OF HIGHEST COMPENSATED EMPLOYEES IN FORM 990, PART VII AND SCHEDULE J, PART II. NO OTHER SCHEDULES REQUIRED CORRECTIONS.
FORM 990, PART VI, SECTION A, LINE 2	ERIC KESSLER, WILBUR PRIESTER, AND ANDREW SCHULZ HAVE A BUSINESS RELATIONSHIP.
FORM 990, PART VI, SECTION A, LINE 3	ARABELLA ADVISORS, A NATIONWIDE CONSULTING FIRM WITH EXPERTISE IN PHILANTHROPY AND NONPROFIT ORGANIZATION MANAGEMENT, PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO NEW VENTURE FUND. SO THAT OUR PROJECTS CAN FOCUS ENTIRELY ON THEIR PHILANTHROPIC AND CHARITABLE GOALS, ARABELLA ADVISORS ENSURES THAT NEW VENTURE FUND AND ITS PROJECTS COMPLY WITH FEDERAL, STATE, AND LOCAL REGULATIONS, AND THE FIRM PROVIDES OTHER ADMINISTRATIVE FUNCTIONS FOR NEW VENTURE FUND, INCLUDING HR, PAYROLL AND LEGAL SUPPORT SERVICES.
FORM 990, PART VI, SECTION B, LINE 11B	UPON RECEIPT OF THE COMPLETED FORM 990 FROM NVF'S INDEPENDENT TAX ACCOUNTANT, THE ORGANIZATION'S MANAGEMENT AND LEGAL COUNSEL REVIEWS A DRAFT OF THE FORM; ADJUSTMENTS ARE MADE, AS NECESSARY. NVF THEN SENDS THE COMPLETED FORM 990 TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT AND, UPON ADDRESSING ALL COMMENTS, IS FILED WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	ALL PERSONS COVERED BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ARE REQUIRED TO DECLARE CONFLICTS OF INTEREST ANNUALLY. COVERED INDIVIDUALS CANNOT VOTE ON MATTERS BEFORE THE BOARD WHEN THEY HAVE A CONFLICT IN THE MATTER. DISINTERESTED MEMBERS MUST DETERMINE WHETHER OR NOT THERE ARE ANY SUITABLE ALTERNATIVES TO POTENTIAL TRANSACTIONS THAT CAUSE CONFLICT. IF A COVERED PERSON IS FOUND TO BE IN VIOLATION OF THIS POLICY, IT MAY BE CAUSE FOR REMOVAL FROM THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 15A	COMPENSATION FOR NVF'S PRESIDENT IS REVIEWED BY THE BOARD OF DIRECTORS, WHICH UTILIZES COMPARABILITY DATA TO SUBSTANTIATE THE REASONABLENESS OF THE COMPENSATION PACKAGE. THE ORGANIZATION DOES NOT DIRECTLY COMPENSATE ANY ADDITIONAL OFFICERS OR KEY EMPLOYEES. ACCORDINGLY, FORM 990, PART VI, SECTION B, LINE 15B HAS BEEN MARKED "NO", AS MANDATED IN THE FORM 990 INSTRUCTIONS.
FORM 990, PART VI, SECTION C, LINE 19	NVF MAKES ITS FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION, AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THOSE MATERIALS INCLUDE THE FUND'S INITIAL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND OTHER POLICIES. THE FUND DOES NOT MAKE ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
FORM 990, PART IX, LINE 11G	CONSULTANTS: COMMUNICATION: PROGRAM SERVICE EXPENSES 11,852,210. MANAGEMENT AND GENERAL EXPENSES 69,814. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,922,024. CONSULTANTS: DIGITAL: PROGRAM SERVICE EXPENSES 1,126,076. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,126,076. CONSULTANTS: EVENT COORDINATION/MANAGEMENT: PROGRAM SERVICE EXPENSES 1,401,899. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,401,899. CONSULTANTS: GOVERNMENT RELATIONS: PROGRAM SERVICE EXPENSES 1,526,657. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,526,657. CONSULTANTS: MEDIA/ADVERTISING: PROGRAM SERVICE EXPENSES 3,039,278. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,039,278. CONSULTANTS: PROJECT MANAGEMENT: PROGRAM SERVICE EXPENSES 31,973,180. MANAGEMENT AND GENERAL EXPENSES 88,113. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 32,061,293. CONSULTANTS: PROJECT SUPPORT: PROGRAM SERVICE EXPENSES 5,847,021. MANAGEMENT AND GENERAL EXPENSES 202,974. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,049,995. CONSULTANTS: RESEARCH & EVALUATION: PROGRAM SERVICE EXPENSES 7,302,615. MANAGEMENT AND GENERAL EXPENSES 9,650. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,312,265. CONSULTANTS: TECHNICAL ASSISTANCE: PROGRAM SERVICE EXPENSES 1,212,412. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,212,412. CONSULTANTS: TECHNOLOGY: PROGRAM SERVICE EXPENSES 768,140. MANAGEMENT AND GENERAL EXPENSES 17,599. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 785,739. OTHER PROFESSIONAL FEES/CONSULTANTS: PROGRAM SERVICE EXPENSES 1,606,197. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,606,197.
FORM 990, PART XI, LINE 9:	REVERSAL OF PRIOR YEAR PLEDGES/CONTRIBUTIONS -4,692,327.

Return Reference

Explanation

FORM 990, PAGE 1, SECTION B:

THE ORGANIZATION IS FILING AN AMENDED FORM 990 FOR THE 2019 TAX YEAR TO MAKE A CORRECTION TO THE LIST OF HIGHEST COMPENSATED EMPLOYEES IN FORM 990, PART VII AND SCHEDULE J, PART II. NO OTHER SCHEDULES REQUIRED CORRECTIONS.

FORM 990, PART VI, SECTION A, LINE 2

ERIC KESSLER, WILBUR PRIESTER, AND ANDREW SCHULZ HAVE A BUSINESS RELATIONSHIP.

FORM 990, PART VI, SECTION A, LINE 3

ARABELLA ADVISORS, A NATIONWIDE CONSULTING FIRM WITH EXPERTISE IN PHILANTHROPY AND NONPROFIT ORGANIZATION MANAGEMENT, PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO NEW VENTURE FUND. SO THAT OUR PROJECTS CAN FOCUS ENTIRELY ON THEIR PHILANTHROPIC AND CHARITABLE GOALS, ARABELLA ADVISORS ENSURES THAT NEW VENTURE FUND AND ITS PROJECTS COMPLY WITH FEDERAL, STATE, AND LOCAL REGULATIONS, AND THE FIRM PROVIDES OTHER ADMINISTRATIVE FUNCTIONS FOR NEW VENTURE FUND, INCLUDING HR, PAYROLL AND LEGAL SUPPORT SERVICES.

FORM 990, PART VI, SECTION B, LINE 11B

UPON RECEIPT OF THE COMPLETED FORM 990 FROM NVF'S INDEPENDENT TAX ACCOUNTANT, THE ORGANIZATION'S MANAGEMENT AND LEGAL COUNSEL REVIEWS A DRAFT OF THE FORM; ADJUSTMENTS ARE MADE, AS NECESSARY. NVF THEN SENDS THE COMPLETED FORM 990 TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT AND, UPON ADDRESSING ALL COMMENTS, IS FILED WITH THE INTERNAL REVENUE SERVICE.

FORM 990, PART VI, SECTION B, LINE 12C

ALL PERSONS COVERED BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ARE REQUIRED TO DECLARE CONFLICTS OF INTEREST ANNUALLY. COVERED INDIVIDUALS CANNOT VOTE ON MATTERS BEFORE THE BOARD WHEN THEY HAVE A CONFLICT IN THE MATTER. DISINTERESTED MEMBERS MUST DETERMINE WHETHER OR NOT THERE ARE ANY SUITABLE ALTERNATIVES TO POTENTIAL TRANSACTIONS THAT CAUSE CONFLICT. IF A COVERED PERSON IS FOUND TO BE IN VIOLATION OF THIS POLICY, IT MAY BE CAUSE FOR REMOVAL FROM THE BOARD OF DIRECTORS.

FORM 990, PART VI, SECTION B, LINE 15A

COMPENSATION FOR NVF'S PRESIDENT IS REVIEWED BY THE BOARD OF DIRECTORS, WHICH UTILIZES COMPARABILITY DATA TO SUBSTANTIATE THE REASONABLENESS OF THE COMPENSATION PACKAGE. THE ORGANIZATION DOES NOT DIRECTLY COMPENSATE ANY ADDITIONAL OFFICERS OR KEY EMPLOYEES. ACCORDINGLY, FORM 990, PART VI, SECTION B, LINE 15B HAS BEEN MARKED "NO", AS MANDATED IN THE FORM 990 INSTRUCTIONS.

FORM 990, PART VI, SECTION C, LINE 19

NVF MAKES ITS FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION, AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THOSE MATERIALS INCLUDE THE FUND'S INITIAL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND OTHER POLICIES. THE FUND DOES NOT MAKE ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.

FORM 990, PART IX, LINE 11G

CONSULTANTS: COMMUNICATION: PROGRAM SERVICE EXPENSES 11,852,210. MANAGEMENT AND GENERAL EXPENSES 69,814. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,922,024. CONSULTANTS: DIGITAL: PROGRAM SERVICE EXPENSES 1,126,076. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,126,076. CONSULTANTS: EVENT COORDINATION/MANAGEMENT: PROGRAM SERVICE EXPENSES 1,401,899. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,401,899. CONSULTANTS: GOVERNMENT RELATIONS: PROGRAM SERVICE EXPENSES 1,526,657. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,526,657. CONSULTANTS: MEDIA/ADVERTISING: PROGRAM SERVICE EXPENSES 3,039,278. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,039,278. CONSULTANTS: PROJECT MANAGEMENT: PROGRAM SERVICE EXPENSES 31,973,180. MANAGEMENT AND GENERAL EXPENSES 88,113. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 32,061,293. CONSULTANTS: PROJECT SUPPORT: PROGRAM SERVICE EXPENSES 5,847,021. MANAGEMENT AND GENERAL EXPENSES 202,974. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,049,995. CONSULTANTS: RESEARCH & EVALUATION: PROGRAM SERVICE EXPENSES 7,302,615. MANAGEMENT AND GENERAL EXPENSES 9,650. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,312,265. CONSULTANTS: TECHNICAL ASSISTANCE: PROGRAM SERVICE EXPENSES 1,212,412. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,212,412. CONSULTANTS: TECHNOLOGY: PROGRAM SERVICE EXPENSES 768,140. MANAGEMENT AND GENERAL EXPENSES 17,599. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 785,739. OTHER PROFESSIONAL FEES/CONSULTANTS: PROGRAM SERVICE EXPENSES 1,606,197. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,606,197.

FORM 990, PART XI, LINE 9:

REVERSAL OF PRIOR YEAR PLEDGES/CONTRIBUTIONS -4,692,327.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2019

Software ID:
Software Version: