2023-11-08T19:00:16-06:00 2022-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2022-01-01 521296842 NATIONAL VENTURE CAPITAL ASSOCIATION NATI 2028645920 25 MASSACHUSETTS AVE NW 730 WASHINGTON DC 200011430 ROBERT BOBBY FRANKLIN PRESIDENT & CEO 2028645920 2023-11-08 1 ROBERT BOBBY FRANKLIN 999009999 0 J CALVIN MARKS P01226973 9197196400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NVCA ROBERT BOBBY FRANKLIN 25 MASSACHUSETTS AVE NW 730 WASHINGTON DC 200011430 8910455 0 X WWW.NVCA.ORG X 1973 DC NVCA UNITES THE U.S. ENTREPRENEURIAL ECOSYSTEM TO SUPPORT THE FORMATION OF HIGH-GROWTH COMPANIES AND ENSURE THE U.S. REMAINS THE MOST COMPETITIVE ENVIRONMENT IN THE WORLD FOR ENTREPRENEURS AND INNOVATION. POWERED BY OUR MEMBERS, NVCA CONVENES VENTURE CAPITAL INVESTORS, ENTREPRENEURS, INDUSTRY PARTNERS AND OTHER ECOSYSTEM PARTICIPANTS TO SHAPE PUBLIC POLICY, DEVELOP AND LEAD INDUSTRY INITIATIVES, SPEARHEAD INDUSTRY RESEARCH, AND FACILITATE PROFESSIONAL DEVELOPMENT. 31 31 0 0 18438 14174 5000 0 7316734 8450178 4731 54127 64473 50961 7390938 8555266 0 0 0 0 3591442 4158198 0 0 0 2166897 2856100 5758339 7014298 1632599 1540968 9339151 11509918 4217266 4820427 5121885 6689491 X NVCA UNITES THE U.S. ENTREPRENEURIAL ECOSYSTEM TO SUPPORT THE FORMATION OF HIGH-GROWTH COMPANIES AND ENSURE THE U.S. REMAINS THE MOST COMPETITIVE ENVIRONMENT IN THE WORLD FOR ENTREPRENEURS AND INNOVATION. POWERED BY OUR MEMBERS, NVCA CONVENES VENTURE CAPITAL INVESTORS, ENTREPRENEURS, INDUSTRY PARTNERS AND OTHER ECOSYSTEM PARTICIPANTS TO SHAPE PUBLIC POLICY, DEVELOP AND LEAD INDUSTRY INITIATIVES, SPEARHEAD INDUSTRY RESEARCH, AND FACILITATE PROFESSIONAL DEVELOPMENT. 0 0 ADVOCACY & INDUSTRY INITIATIVES: NVCA WORKS WITH POLICYMAKERS, THE MEDIA, AND ORGANIZATIONS NATIONWIDE TO FOSTER AN UNDERSTANDING OF THE THE OUTSIZED IMPACT VENTURE CAPITAL INVESTORS AND THE ENTREPRENEURS THEY SUPPORT HAVE ON THE ECONOMY, JOB CREATION, AND INNOVATION. NVCA'S POLICY PRIORITIES INCLUDE: TAX REFORM THAT ENCOURAGES NEW COMPANY FORMATION; LESSEN THE REGULATORY BURDEN ON VCS AND STARTUPS; IMMIGRATION POLICY THAT ATTRACTS AND RETAINS IMMIGRANT ENTREPRENEURS; TECHNOLOGY POLICY THAT SUPPORTS STARTUPS AND DISRUPTION; SUPPORT INVESTMENT INTO HEALTHCARE COMPANIES THAT IMPROVE LIVES; FACILITATE TECHNOLOGY TRANSFER AND INCREASE BASIC RESEARCH FUNDING; AND ADVOCACY FOR REFORMS TO ENCOURAGE MORE VENTURE-BACKED COMPANIES TO GO PUBLIC. IN ADDITION TO ITS PUBLIC POLICY PRIORITIES, NVCA SPEARHEADS A NUMBER OF CAMPAIGNS TO PROMOTE THE IMPORTANT ROLE OF VENTURE CAPITAL IN SUPPORTING ENTREPRENEURSHIP AND INNOVATION AND LEADS INDUSTRY INITIATIVES TO CREATE A MORE OPEN AND INCLUSIVE ECOSYSTEM. COMMUNITY & EDUCATION: NVCA MEMBERS ENGAGE WITH THEIR PEERS THROUGH EVENTS, PROFESSIONAL DEVELOPMENT, CONTINUING EDUCATION, AND PEER GROUPS. MEMBERS RECEIVE COMPLIMENTARY OR DISCOUNTED ACCESS TO OUR PREMIER ANNUAL EVENTS AND CONFERENCES, REGIONAL DINNERS AND NETWORKING EVENTS, AND WORKSHOPS ACROSS THE COUNTRY. THROUGH PEER GROUPS, NVCA MEMBERS ARE INVITED TO TACKLE CRITICAL ISSUES FACING THE INDUSTRY, LEAD ON INDUSTRY INITIATIVES, AND ACCESS PROFESSIONAL DEVELOPMENT AND NETWORKING OPPORTUNITIES. TO FURTHER THEIR CONTINUING EDUCATION AND PROFESSIONAL DEVELOPMENT, NVCA OFFERS ITS MEMBERS A FULL SUITE OF DIGITAL EDUCATION TOOLS AND IN-PERSON WORKSHOPS AND EVENTS THROUGHOUT THE YEAR. RESEARCH: NVCA'S RESEARCH FOCUSES ON SHARING DATA, PROVIDING INSIGHTS INTO INDUSTRY TRENDS, AND QUANTIFYING THE SIZE AND IMPACT OF THE ENTREPRENEURIAL ECOSYSTEM. NVCA COLLECTS, ANALYZES AND PUBLISHES DATA AND RESEARCH ON VENTURE CAPITAL ACTIVITY. PITCHBOOK IS THE OFFICIALDATA PROVIDER OF NVCA AND THROUGH THAT PARTNERSHIP, NVCA PRODUCES THE QUARTERLY PITCHBOOK-NVCA VENTURE MONITOR, THE DEFINITIVE QUARTERLY REVIEW OF THE U.S. VENTURE CAPITAL ECOSYSTEM AND TRENDS. IN ADDITION, NVCA USES PITCHBOOK DATA TO PRODUCE THE NVCA YEARBOOK, AN ANNUAL COMPREHENSIVE ANALYSIS OF U.S. VENTURE CAPITAL INDUSTRY STATISTICS AND REVIEW OF NVCA ACTIVITIES FROM THE PAST YEAR. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 X 28 0 1 0 1 1 0 0 0 1 1 0 1 0 X 31 31 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 1 1 1 0 0 X ROBERT BOBBY FRANKLIN 2028645920 25 MASSACHUSETTS AVE NW 730 WASHINGTON DC 200011430 ROBERT BOBBY FRANKLIN PRESIDENT & CEO 36.50 1.00 X 1580699 0 50826 MARYAM HAQUE EXECUTIVE DIRECTOR, VENTURE FORWARD 3.50 34.00 X 395348 0 24911 JUSTIN FIELD SENIOR VICE PRESIDENT OF GOVERNMENT AFFAIRS 37.50 X 396231 0 16327 JEFFREY FARRAH GENERAL COUNSEL (TO OCT '22) 37.50 X 257536 0 31388 STEPHANIE VOLK VP, INDUSTRY ENGAGEMENT (TO NOV '22) 37.50 X 220895 0 11395 SABRINA FARLEY VICE PRESIDENT, COMS AND MARKETING 37.50 X 217981 0 11181 MICHAEL BROWN CHAIR (TO JUNE '22) 2.00 X X 0 0 0 EMILY MELTON CHAIR 2.00 X X 0 0 0 JILL JARRETT TREASURER 2.00 X X 0 0 0 GREG SANDS SECRETARY 2.00 X X 0 0 0 CHARLES HUDSON EXCOM AT-LARGE 2.00 0.30 X X 0 0 0 MOHAMAD MAKHZOUMI EXCOM AT-LARGE 2.00 X X 0 0 0 PATRICIA NAKACHE EXCOM AT-LARGE (TO JUN '22) 2.00 X X 0 0 0 VINEETA AGARWALA DIRECTOR 0.30 X 0 0 0 KRISTINA BUROW DIRECTOR 0.30 X 0 0 0 PETER CHUNG DIRECTOR 0.30 X 0 0 0 GAVEN CHRISTENSEN DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 BEEZER CLARKSON DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 VANESSA COLELLA DIRECTOR (TO APR '22) 0.30 X 0 0 0 DIANE DAYCH DIRECTOR 0.30 X 0 0 0 BYRON DEETER DIRECTOR 0.30 X 0 0 0 SCOTT DORSEY DIRECTOR 0.30 X 0 0 0 RYAN DRANT DIRECTOR 0.30 X 0 0 0 PATRICK ENRIGHT DIRECTOR 0.30 X 0 0 0 STEVE FREDRICK DIRECTOR (TO JUN '22) 0.30 X 0 0 0 NICOLE GLAROS DIRECTOR (TO AUG '22) 0.30 X 0 0 0 HILARY GOSHER DIRECTOR 0.30 X 0 0 0 KIRSTEN GREEN DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 DAVID HALL DIRECTOR 0.30 X 0 0 0 MAMOON HAMID DIRECTOR 0.30 X 0 0 0 NAGRAJ KASHYAP DIRECTOR (TO AUG '22) 0.30 X 0 0 0 DANIEL LEVINE DIRECTOR 0.30 X 0 0 0 KIRK NIELSEN DIRECTOR 0.30 X 0 0 0 NDAMDI OKIKE DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 CARMEN PALAFOX DIRECTOR 0.30 X 0 0 0 WILL PRICE DIRECTOR (TO JUN '22) 0.30 X 0 0 0 RENATA QUINTINI DIRECTOR 0.30 X 0 0 0 SCOTT RANEY DIRECTOR 0.30 X 0 0 0 DANA SETTLE DIRECTOR 0.30 X 0 0 0 DEENA SHAKIR DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 STEVE SOCOLOF DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 JENNIFER TEGAN DIRECTOR (TO JUN '22) 0.30 X 0 0 0 ADAM VALKIN DIRECTOR (FROM JUN '22) 0.30 X 0 0 0 DON VIEIRA DIRECTOR 0.30 X 0 0 0 NICK WASHBURN DIRECTOR 0.30 X 0 0 0 DAVID YORK DIRECTOR (TO JUN '22) 0.30 X 0 0 0 3068690 0 146028 14 0 1 0 CAPITOL TAX PARTNERS LLP 101 CONSTITUTION AVE NW STE 675 EAS WASHINGTON DC 20001 CONSULTING SERVICES 240000 MEHLMAN CASTAGNETTI ROSEN & THOMAS 1341 G ST NW STE 1100 WASHINGTON DC 20005 CONSULTING SERVICES 240000 GIBSON DUNN & CRUTCHER LLP 333 SOUTH GRAND AVE LOS ANGELES CA 90071 CONSULTING SERVICES 160432 ROCK CREEK COUNSEL LLC 801 PENNSYLVANIA AVE NW STE 430 WASHINGTON DC 20004 CONSULTING SERVICES 150000 CORDIA PARTNERS 8330 BOONE BLVD STE 350 VIENNA VA 22182 ACCOUNTING SERVICES 126091 5 MEMBER DUES 900099 7512227 7512227 CONFERENCES & MEETINGS 900099 919913 305976 613937 ONLINE PUB ADVERTISING 541800 18038 18038 8450178 48981 48981 50561 50561 360335 355189 5146 5146 5146 JOB BOARD 541800 400 400 400 8555266 7868764 18438 668064 1631525 2017113 103929 152613 253018 333119 159813 817381 57902 180891 71910 497090 131311 508506 62911 25819 DUES & SUBSCRIPTIONS 168347 UBI/DC FRANCHISE TAXES 5273 SHARED COSTS -164173 7014298 353151 352971 7240529 8432765 89566 151035 146431 406097 766689 522571 206941 244118 1302533 1922932 9339151 11509918 382136 356096 3051626 3195896 783504 1268435 4217266 4820427 X 5121885 6689491 5121885 6689491 9339151 11509918 1540968 26638 0 X 0 1 X 1 0 0 0 1 7512227 2989881 85283 3075164 2899891 175273 411848 294018 117830 222282 175897 46385 132559 52656 79903 244118 ROU ASSET - OPERATING LEASE 944034 DUE FROM AFFILIATE 884933 DEPOSIT - OFFICE SPACE 93481 DEFERRED COMPENSATION 457(F) ASSET 484 1922932 LEASE LIABILITIES - OPERATING LEASES 1267951 DEFERRED COMPENSATION LIABILITY 484 1268435 X X X X X 0 1 0 ROBERT BOBBY FRANKLIN PRESIDENT & CEO 890121 0 294000 0 396578 0 15250 0 35576 0 1631525 0 300000 0 MARYAM HAQUE EXECUTIVE DIRECTOR, VENTURE FORWARD 320348 0 75000 0 0 0 15250 0 9661 0 420259 0 0 0 JUSTIN FIELD SENIOR VICE PRESIDENT OF GOVERNMENT 321231 0 75000 0 0 0 15250 0 1077 0 412558 0 0 0 JEFFREY FARRAH GENERAL COUNSEL (TO OCT '22) 257536 0 0 0 0 0 11893 0 19495 0 288924 0 0 0 STEPHANIE VOLK VP, INDUSTRY ENGAGEMENT (TO NOV '22) 180895 0 40000 0 0 0 10462 0 933 0 232290 0 0 0 SABRINA FARLEY VICE PRESIDENT, COMS AND MARKETING 180981 0 37000 0 0 0 10224 0 957 0 229162 0 0 0 PART I, LINE 4B ROBERT "BOBBY" FRANKLIN PARTICIPATES IN A NONQUALIFIED DEFERRED COMPENSATION SUPPLEMENTAL RETIREMENT PLAN UNDER SECTION 457F OF THE IRC (THE "PLAN"). TOTAL CONTRIBUTIONS TO THE PLAN FOR 2022 WERE $60,000. DURING 2017, THE ASSOCIATION ENTERED INTO AN AGREEMENT WHEREBY SIX ANNUAL CONTRIBUTIONS WERE MADE TO PLAN FOR THIS EMPLOYEE. THIS AGREEMENT WAS COMPLETED IN 2022 AND A LUMP SUM PAYMENT WAS MADE TO MR. FRANKLIN FOR THE VALUE OF THE PLAN. THE CONTRIBUTIONS MADE IN PREVIOUS YEARS HAD BEEN REPORTED ON PRIOR FORMS 990 AS COMPENSATION IN THE YEARS THE CONTRIBUTIONS WERE MADE. THE DISTRIBUTION OF THE VALUE OF THE PLAN, INCLUDING THE $60,000 CONTRIBUTED TO THE PLAN IN 2022, IS BEING REPORTED AS OTHER TAXABLE INCOME TO MR. FRANKLIN ON THIS FORM 990. ALSO, DURING 2022, A NEW AGREEMENT WAS EXECUTED FOR THE SAME EMPLOYEE WHEREBY THE ASSOCIATION WILL MAKE ANNUAL CONTRIBUTIONS TO A NONQUALIFIED DEFERRED COMPENSATION PLAN UNDER SECTION 457 OF THE IRC FOR A NUMBER OF YEARS. FORM 990, PART V, LINE 2B: NVCA HAS A PROFESSIONAL EMPLOYER ORGANIZATION AGREEMENT WITH INSPERITY TO PROVIDE PERSONNEL, BENEFIT, AND ADMINISTRATIVE SERVICES FOR THE STAFF OF THE ORGANIZATION. NVCA DOES NOT DIRECTLY EMPLOY ITS PERSONNEL; ALL SUCH SERVICES ARE PROVIDED THROUGH THE INSPERITY CONTRACT. FORM 990, PART VI, SECTION A, LINE 6 THE NATIONAL VENTURE CAPITAL ASSOCIATION IS A TRADE ASSOCIATION CONSISTING OF DUES PAYING MEMBERS. MEMBERSHIP SHALL BE OPEN TO INDIVIDUALS, CORPORATIONS, PARTNERSHIPS, AND OTHER ENTITIES ACTIVELY ENGAGED IN VENTURE CAPITAL/PRIVATE EQUITY INVESTING IN THE UNITED STATES OF AMERICA AND WHOSE INTERESTS ARE ALIGNED WITH THOSE OF THE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A THE DIRECTORS SHALL BE ELECTED ANNUALLY BY MAJORITY VOTE OF THE TOTAL NUMBER OF MEMBERS VOTING. UPON ELECTION TO THE BOARD OF DIRECTORS, A MEMBER THEREOF SHALL HOLD OFFICE FOR A TERM OF FOUR YEARS, UNLESS A LESSER TERM IS SPECIFIED BY THE MEMBERSHIP, OR UNTIL HIS/HER SUCCESSOR IS ELECTED AND QUALIFIED. OFFICERS ARE SELECTED BY THE BOARD. THE ELECTED OFFICERS SHALL HOLD OFFICE UNTIL THE TERM OF THEIR RESPECTIVE SUCCESSORS BEGINS. FORM 990, PART VI, SECTION A, LINE 8B EXECUTIVE COMMITTEE MEETINGS ARE HELD VIA TELEPHONE AND ARE GENERALLY BRIEF. NO MINUTES OF THESE MEETINGS ARE KEPT. FORM 990, PART VI, SECTION B, LINE 11B DRAFT VERSIONS OF THE 990 TAX RETURNS ARE REVIEWED BY THE PRESIDENT AND CEO OF THE ORGANIZATION AND THEN FORWARDED TO THE TREASURER PRIOR TO FILING. THE TREASURER REPORTS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C NVCA REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ALL CONTRACTS GO THROUGH EXTENSIVE REVIEW PROCESS. ALL ACCOUNTS PAYABLE CHECKS ARE REVIEWED AND APPROVED BY EITHER THE PRESIDENT AND CEO OR THE DIRECTOR OF ADMINISTRATION BEFORE THEY ARE RELEASED. THE EXPENSE REPORTS OF THE PRESIDENT & CEO ARE REVIEWED MONTHLY BY THE TREASURER FOR REASONABLENESS. IF AN EMPLOYEE IS MADE AWARE OF A CONFLICT THEY ARE INSTRUCTED TO DISCLOSE THE SITUATION THOUGH THE PROPER CHAIN SO THAT APPROPRIATE ACTION MAY BE TAKEN. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE PRESIDENT AND CEO IS DETERMINED BY MEMBERS OF THE EXECUTIVE COMMITTEE EACH YEAR. THE SALARIES OF THE OTHER KEY EMPLOYEES ARE DETERMINED BY THE PRESIDENT UPON ANNUAL REVIEW. THE PROCESS FOR DETERMINING COMPENSATION IS DETERMINED BY REFERENCE TO CERTAIN INDUSTRY BENCHMARKS. FORM 990, PART VI, SECTION C, LINE 19 NVCA MAKES ITS GOVERNING DOCUMENTS, ALL WRITTEN POLICIES, AND ALL FINANCIAL STATEMENTS AVAILABLE TO BOARD MEMBERS. THE FOLLOWING ARE AVAILABLE TO MEMBERS AND STAFF: THE AUDITED FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND ALL WRITTEN POLICIES. THE TAX RETURN IS AVAILABLE TO THE PUBLIC UPON REQUEST. THE VENTURE CAPITAL FOUNDATION DBA VENTURE FORWARD 25 MASSACHUSETTS AVE NW 730 WASHINGTON DC 20001 474114024 EDUCATION DC 501(C)(3) LINE 12A, I NATIONAL VENTURE CAPITAL ASSOCIATION 0 NATIONAL VENTURE CAPITAL ASSOCIATION POLITICAL ACTION COMMITTEE 25 MASSACHUSETTS AVE NW 730 WASHINGTON DC 20001 521302883 POLITICAL CAMPAIGN CONTRIBUTIONS DC 527 NATIONAL VENTURE CAPITAL ASSOCIATION 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0