25years OF COURAGE, RESILIENCE, & IMPACT

2020 ANNUAL REPORT FROM THE DIRECTOR Dear Friends,

I hope this message finds you safe and healthy. Thank you for being part of the Ventures family. It is a great privilege to be a longstanding member of the Puget Sound Seattle nonprofit community, and we are proud to continue leading and partnering with local businesses and community organizations.

2020 marked our 25th anniversary, but we are now celebrating more than an anniversary. The resilience of small businesses that met 2020’s challenges has also become our cause for celebration. In partnership with our courageous entrepreneurs, Ventures’ value to the community was demonstrated during our recent health and economic crises. The strength of our organization, the remarkable ability of our staff and volunteers to create solutions, and the critical role you play as supporters has been sharply brought into focus. In this annual report, you will read about the clients, staff, and volunteers who have impacted our growth over the years. Each story, made possible by your support, is an inspiration to continue strengthening local communities through Ventures’ unique approach to empowering small business owners with limited resources and unlimited potential. Meet The coronavirus pandemic massively influenced our operations and the communities we serve. Our clients struggled with our clients resource acquisition, revenue shortage, fatigue, and uncertainty. How our organization pivoted amidst these challenges is the story of Ventures. “Ventures continues We stand for, by, and with the families and the to work with communities we serve, in both good and you throughout difficult times. With your help in the year your growth ahead, we will continue our mission stages. Even now, no matter how steep the path. after two or three years of working with Ventures, Thank you for being part of James Turner they are still assisting us.” JT’s Famous BBQ our family.

Sincerely, “If Ventures was not there, I would not have opened my second location. It’s as simple as that. I would not have had the resources to do it. I would not have been able to afford the Beto market rent that is in the heart of the Central Yarce District at a prime commercial location.” Monika Matthews QueenCare

Mission Values

Ventures is a Seattle-based nonprofit that Our work is guided by the empowers aspiring entrepreneurs with limited following six core values: resources and unlimited potential. We provide access to business training, capital, coaching, and COMMUNITY hands-on learning opportunities for entrepreneurs. We serve those in our community for whom CLIENT SUCCESS traditional business developments services are out of reach, with a focus on women, people of color, EMPOWERMENT immigrants, and individuals with low incomes. Our INTEGRITY ultimate goal is to support individuals to increase their income potential, achieve long-term financial DIVERSITY stability, provide for their families, and enrich their communities through small business ownership. INNOVATION Who we serve

DEMOGRAPHICS 79% 69% 24% 31% BIPOC in 2020 Women in 2020 Immigrants in 2020 Latino in 2020

BUSINESS INDIVIDUALS TYPES 17% Food 710 Served in 2020 55% Services 59% 5,636 Products Served since 1995

How we help

TRAINING & COACHING INCUBATION & ACCESS TO MARKETS 1,987 85 Clients at the Ventures Marketplace Hours of coaching in 2020 and online store in 2020 8,730 $2,585,607 Sold at the Ventures Marketplace since 1995 Hours of coaching since 1995

46 CAPITAL LOANS AND GRANTS Trainings in 2020 $121,495 740 Loans in 2020 Trainings since 1995 (estimate) $1,256,825 Grants in 2020 $1,890,865 Loans distributed since 1995 25 YEARS OF COURAGE, RESILIENCE & IMPACT 2020 Highlights

INNOVENTURES VIRTUAL EVENT Founded In March 2020, Ventures was able to pivot and change their 1995 Washington Community annual event InnoVentures, a pitch competition and 25th year Alliance for Self anniversary celebration in two weeks from an in-person event to help (CASH) the first online, virtual event in response to the pandemic. We had a successful rate of attendance and exceeded fundraising goals. 1999 Certified Community REPRESENTATIVE BOARD LEADERSHIP 2000 Development In July 2020, our Board of Directors appointed a new President, Financial Institution CDFI Octaiviea Renée, (aka “Lady O”), the first Ventures program graduate and the first Black woman to serve as Board President Became SBA for Ventures. Octaiviea served on the Board for two years prior Lender to her appointment as President, and has recently expanded and re-envisioned her business, “The Lady O Experience.” Launched Latinx program, IN ADDITION TO OUR CORE SERVICES, WE: with services in Spanish • Quickly transitioned all core services to a robust, online delivery.

Launched • Launched weekly “Resource Round Up” online gatherings, 2008 The Ventures which are entrepreneur-driven and provide opportunities Marketplace for peers to connect, learn, and help one another, while retail incubator physically distant. 2010 program • Maintained and expanded our tools and resources website First Executive page for small businesses. Director of color, • Provided a specialized Digital Marketing Series: representing Intro to Web Development, Ecommerce, & the stories of 2014 Social Media training. our mission 2015 • Developed a simple, non-intrusive and Rebranding direct business grant opportunity to Ventures that deployed $910,000 to 290 2017 entrepreneurs. Our team also Launched covered loan payments and InnoVentures helped business owners 2021 program access $1 million STRATEGIC in other grant 2020 25th opportunities. Anniversary GOALS 1 Watch Carry out our mission to empower our 2021 Annual individuals with limited resources and Report unlimited potential to improve their lives video! through small business ownership. • Equip low-income and underserved individuals to succeed in small business ownership. • Provide effective programs that increase clients’ financial stability and economic opportunity. 2 3 Ensure Ventures is providing intentional Ensure Ventures has services in an equitable way. the resources to carry out our mission to • Organizational investment increase organizational • Focus on diversity, equity, and inclusion sustainability. VOLUNTEER OF THE YEAR: DAVE SPICER

During the past year, we all needed extra support and help. By giving exactly this, Ventures’ volunteers showed us how deeply they care about those whom we serve. All of us at Ventures are grateful beyond measure for their extraordinary service.

Thank you Though all Ventures volunteers are superstars, we are delighted Dave, and to recognize longtime volunteer Dave Spicer with the 2020 thank you to Ventures’ Volunteer of the Year award! Dave receives this honor all our volunteers! for his outstanding commitment during 2020, as well as for his We truly appreciate long history of dedicated leadership, which now extends for some your efforts to make 20-plus years. Dave first launched his Ventures volunteerism in our organization and 1998 when partnering with our founding Executive Director, communities stronger. Peter Rose. Since that time, Dave has served on our Board of Directors for three distinct terms, becoming a tireless and passionate advocate on behalf of advancing our mission. Dave has reflected that his involvement with Ventures ranks among the most meaningful of his life. Meet our clients Learn about the stories behind these clients and 38,428 more by watching our Annual Report video at www.venturesnonprofit.org/2020-annual-report Estimated hours from all volunteers since 1995

“Ventures encouraged us that we could ask the government for help and that is how we requested 1,111 the small business loan (SBA). We Volunteer hours in 2020 also had several grants through Ventures recommendations and that helped us a lot.”

Leslie & Brenner Suarez Shadow Cutz

Financials

TOTAL REVENUE TOTAL EXPENSES $3,144,088 $2,684,957

Breakdown of 2020 revenue sources: Breakdown of 2020 expenses: • Contributions and Grants: $1,615,996 • Program: $2,252,023 • Government Grants: $1,436,397 • Admin: $249,592 • Incubation and Program: $91,695 • Fundraising: $183,342

ASSETS TOTAL EQUITY CHANGE IN TOTAL 12/31/2019: 12/31/2019: EQUITY 12/31/2019 to 12/31/2020: $2,088,426 $1,637,465 $849,070 12/31/2020: 12/31/2020: $3,475,223 $2,486,535 (Greatly inflated due to high accounts receivable with the Burien grant reimbursement) SUPPORTERS

INSTITUTIONAL HSBC Seattle Pride Jonathan Coleman Ximena**/*** & Dale Rector & VOLUNTEERS FUNDERS ImpactAssets Seattle Symphony & Brandon Edgar Juarez Suzanne Hurley Yessenia Aguilar Helgerson- Melissa Ries & Pat Diego Rejtman ACT Theatre Jean K. Lafromboise Shelby Burford Ortmeyer Kristi Allen Foundation Marketplace Kennedy Octaiviea Renée** Amazon Mark Cunningham William Amanhyia Jewish Federation of Storytelling Llance Kezner Chuck & Jane Riley Bank of America Ann Darlington Mauricio Ayon Charitable Gift Fund Greater Seattle Silvercloud Hotel Janet Kiehn ** & Daphna Broadway ** and Marjorie Betubiza Bank of the West Kaiser Permanente Kellie Kinzel* Robon Foundation Skees Family Katherine De Bruyn David Bookhammer Banya 5 Janis Kitsuwa-Lowe Christie Rodgers Kennedy-Ries Family Foundation Diego De La Torre Henry Burton BECU Jorji Knickrehm* & Chris** & Alissa Foundation Solid Ground John DeRocco & Jason Rich Rooks Andre Collins BECU Foundation King County Metro Starfish Foundation Eileen Ryan and the Mastercard Jasmin Krout Amy Rowley Chris Cindy Cordova Kirkpatrick Family State Farm Gary Fallon & Leona Center for Inclusive De Rocco & Marilee Laura Ruderman** & Judith Estrada Growth Foundation Statewide Poverty Kurdas Craig Greenberg Echegaray Laird Norton Action Network Maggie Djenohan- Beeks Family Legacy Sparkman Jacquee Kurdas* Kirsten Rue Roz Edison Foundation Company LLC Symetra Susan Donaldson & Matthew Landers Carmin Russell Ammon Ford Butler Family Liberty Mutual Group T.E.W. Foundation Paul Fletcher Jamison Larsen Gabriella Sanchez- Aladia Gan Community Lockwood Foundation Foundation Teresa Wornstaff LLC Erica & Diane Lee Stern Roberto Garcia LRCA Peterson The BECU Foundation Dougherty Martha Sandoval Capital One Family Foundation Stephanie Lentz*** Caroline Garry The Norcliffe Benjamin Duenwald Bunny Schaefer*** Casson Family Fund Magic Cabinet Mire Levy David Goldberg Foundation Tiana Duncan*** Kimberly & Joshua Cedarmere Mama Lil’s Peppers Luni Libes Mike Goldstein U.S. Bank Foundation Betsy Earl* Schaub Foundation Peyina Lin-Roberts** Pedro Gomez Marcia Mellinger and Umpqua Bank Donald & Beverly City of Bellevue Jay McAlvay GF Ehrlichman Family & Ed Roberts Julia Gould Union Bank Schmidt City of Burien Fund Michael Eisenberg Matt Shields & Matthew Hill Foundation Lisette Heilman Mary Schmitz City of Seattle - Mark Torrance Michael Ernst & Carol Cole Hunter Office of Economic Foundation Vulcan Inc. Weisbecker Han Liu Asli Selcuk Marguerite Irefin Development Medina Foundation WA State Department Natalie Evans Viviana Lopez*** Jamie Sherbondy** City of Seattle - of Labor and Lillian Sherman Jaquelina Jimena Microsoft Industries Harold Federow Paulina Lopez Office of Labor Corporation Kaitie Shinsato David King Standards (OLS) Washington Federal Tricia Fejfar Sierra Lorenzini NALCAB Brad Krueger Foundation Yvonne Fichtenau John Lorton Stephen Showalter* CLA Foundation Lindy Laurence Nick and Michele Washington State Melissa Forziat** Marcia Sill** Columbia Bank Keller Family Juanita Mackey*** Microenterprise Jayne Simmons*** Matthew Lehrer Community Foundation Clint Foss & Grace Aiste Manfredini Association (WSMA) Lim Sarah Leonard Foundation of Nonprofits Insurance Rogelio Manuel*** Rubie & Pradeep Snohomish County Washington Women’s Nikki Foster Singh Laura Leslie Alliance Foundation Renée Martin** Ellison Foundation Carla Fowler Kahran Singh Christian Linares Norman Raab Wells Fargo Bank Karen Martin Evergreen Business Foundation Dietz Fry Erica* & Michael Cesar Lopez West Star Foundation Shaula Massena** Skinner Capital Northwest Area Shiho Fuyuki Errin Loyal Friends of the Foundation (NWAF) Christopher Mateo Cecilia Smith*** Dale Galvin Sharnbroich Chipo Marangwanda Waterfront Seattle OneFamily Claudia Smith Caroline Garry Matt Razore Renee Martin Goldberg Family Foundation INDIVIDUAL Lisa Smith Charitable Carlene Gaudette Tessa Matthey & Rachel McDade PCC Community DONORS Peter Snow Foundation Markets Linda B Glenicki Paul Durkee Catalina Minnig Halisi Ali El & Elizabeth GoodHangups Peg & Rick Young CC Gleser Patricia Mays Robertson Bruce Morris Rachelle Ames Grays Harbor Foundation Larry Goldberg Tom & Nalini Patricia & Stuart Tony Nguyen Community Megan Anderson McCormick Plymouth David Goldberg** Spencer Daniela Noriega Foundation Congregational Ellie Anderson* Rachel McDade Paul & Leisa Dave** & Marti Charles Oxford GSBA Church Pedro Ardila Spicer Goldberg Christine McLaughlin Riti Patel Harvest Foundation Puget Sound Energy Marcela Arreola & Ofer Gneezy Pooja Srinivas Erin Gray Steve Pavliga Heavy Restaurant RealNetworks Mauricio Ayon Ronny Mendieta** Rebecca Staffel Group Foundation Katherine Guttridge Leslie Pierson Caitlin Back Selamawit Misgano Connie Stoney Herbert B. Jones Rotary Club of Robert Hadley Sharon Pistole Max Baer Fitsum Misgano** Laila Suidan*** Foundation University District Doug Hall** Buchi Rapu-Hodge Carmen Benway Jennifer Moran Khalid Surur Hill-Rosen Charitable SAP Concur Joanna Hall*** Megyn Rodriguez Fund Satterberg Hilary Brazeal Jeff Moran & Lavinia Lisa Taylor** China Hardison Sheppard-Moran Chris & Alissa Rooks Foundation Nicole Buesen Rachel Theriot Marcia Harper Andrea Moretsky Kenan Sakarcan Seattle Art Museum Kelly Burch Sparky Toews Jean Hernandez David Mortaz Sunanda Saxena Seattle Foundation Robert Bush Tricia & Steve Trainer James Hing Jerrilynn Moselle Joelle Sostheim Seattle Good Aaron Cahoon** Phyllis Turner-Brim Business Network Pam Hoelzle Chuan Nguyen Dave Spicer Rosario & Terry Nicolette & David Sam Ushio Seattle Metropolitan Carroll Eugene & Olga Akash Srivastava Chamber of Hornbeck Nonko Luz Valdez Ilse Castro-Aragon Khalid Surur Commerce George & Sharon Leo Novsky Rippy Bhatia Ward** Yesenia Celestino** Howe Lisa Taylor Will Oberst Brian Warren Christina Buchholz Tove Hoyer Ilse Torres Tim O’Malley Celia Weisman* & Judy Clark Michael Hoyt Phillip Chance Valentina Vitols Bello Omenn Darling Timothy Cochrane Brian Warren Tom and Julie Hull Family Meka West*** STAFF Garren Weiner Cole Hunter Kristen Osborne Christopher & Lorna Wheaton Braden Wild Bree Austin Marguerite Irefin Steve Pavliga Rocky White Stephanie Wong Bonnie Chiffelle Eric Jacobs Elizabeth Pearce Ruth Wilson Ivone Yuarta Annette Crespo JK Burkwell & Brian Gisselle Pichardo* Jaeger Aria Wilson* Kim Zhang Natosha Edmonds Leslie Pierson & Mark Jennie James Butler David Wine Laura Fletcher Douglas James Judy Pigott Dianna Mayra Gomez Jeremy** & Carmen Winegarden** & Eleanor & Charlie Edelstein Jensen Pollnow Amy Hollander Marriot Winquist Mark Pomerantz** Pam Home BOARD Erik Winters** Sarah Carolyn McKnight Henry Wong Yesenia Celestino Jennifer Porter Christian Morales Che Wong David Goldberg Priebe** Stephanie Wong Celina Romera Doug Hall David Pugh & Laurie Erica Skinner Robinson David Worley Renée Martin Sara Yao Marty Varela Ronny Mendieta Beto Yarce* & Phil José Vázquez Fitsum Misgano Dave Spicer Smith Celia Weisman Ximena Juarez Lisa Taylor John Yu** Erin Williamson Octaiviea Renée Dianna Winegarden Berry Zimmerman** Aria Wilson Chris Rooks Erik Winters Anna Zussman Beto Yarce Jamie Sherbondy John Yu * current or former staff ** current or former board Staff and Board lists are as 12/31/2020. *** client