Aaron Carrell
Senior Campaign Finance Analyst
Report Analysis Division
Federal Election Commission
Identification Number: C00150367

Reference: RFAIs dated 4/1/26, 4/8/26, 4/19/26, 4/27/26 and 4/29/26 regarding Amended 2025 May Monthly Report, filed 1/29/26, Amended 2025 June Monthly Report, filed 1/29/26, 2025 Mid-Year Report, Amended 2025 April Monthly Report, filed 1/29/26, Amended 2025 March Monthly Report, filed 1/29/26, Amended 2025 February Monthly Report, filed 1/29/26, Amended 2024 Post-General Report, filed 1/29/26, Amended 2024 Pre-General Report, filed 1/29/26, Amended 2024 October Monthly Report, filed 1/29/26, Amended 2024 September Monthly Report, filed 1/29/26, Amended 2024 Year-End Monthly Report, filed 1/29/26, Amended 2024 August Monthly Report, filed 1/29/26, Amended 2024 July Monthly Report, filed 1/29/26, and Amended 2024 June Monthly Report, filed 1/29/26, Amended 2024 May Monthly Report, filed 1/29/26, Amended 2024 April Monthly Report, filed 1/29/26, Amended 2024 March Monthly Report, filed 1/29/26, Amended 2024 February Monthly Report, filed 1/29/26, Amended 2023 Year-End Report filed 1/29/26

Dear Mr. Carrell:

I am responding to your Requests for Additional Information (RFAIs) dated 4/1/26, 4/8/26, 4/19/26, 4/27/26, and 4/29/26 concerning the National Venture Capital Association (VenturePAC) Amended 2025 May Monthly Report, filed 1/29/26, Amended 2025 June Monthly Report, filed 1/29/26, 2025 Mid-Year Report, Amended 2025 April Monthly Report, filed 1/29/26, Amended 2025 March Monthly Report, filed 1/29/26, Amended 2025 February Monthly Report, filed 1/29/26, Amended 2024 Post-General Report, filed 1/29/26, Amended 2024 Pre-General Report, filed 1/29/26, Amended 2024 October Monthly Report, filed 1/29/26, Amended 2024 September Monthly Report, filed 1/29/26, Amended 2024 Year-End Monthly Report, filed 1/29/26, Amended 2024 August Monthly Report, filed 1/29/26, Amended 2024 July Monthly Report, filed 1/29/26, Amended 2024 June Monthly Report, filed 1/29/26, Amended 2024 May Monthly Report, filed 1/29/26, Amended 2024 April Monthly Report, filed 1/29/26, Amended 2024 March Monthly Report, filed 1/29/26, Amended 2024 February Monthly Report, filed 1/29/26, and Amended 2023 Year-End Report filed 1/29/26.

The RFAIs note that VenturePAC included transactions that �appear to be related to an apparent unauthorized use of Committee funds.�

VenturePAC discovered that its former treasurer embezzled Committee funds starting in December 2023 through June 2025.  To disguise his theft, the former treasurer filed numerous false reports with the FEC to disclose the stolen funds as facially-legitimate transactions.  

VenturePAC spent the ensuing months seeking restitution from its former treasurer, resolving the reporting issues, preparing and filing a series of amended reports � including the ones referenced in your RFAIs � to correct the public record, and implementing procedures to prevent a recurrence of these problems.   

Sincerely,
Robert Franklin
Treasurer