Institute For Entrepreneurial Leadership Inc
- Assets
- $1.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 10
- Location
- Newark, NJ
- Founding
- 10/2003
- Data as of
- 12/2021
- EIN
- 04-3660900
Organization Overview
Institute For Entrepreneurial Leadership Inc is located in Newark, NJ. The organization was established in 2003. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Institute For Entrepreneurial Leadership Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Entrepreneurial Leadership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Institute For Entrepreneurial Leadership Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $772.0k during the year ending 12/2021. While expenses have increased by 15.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE INSTITUTE FOR ENTREPRENEURIAL LEADERSHIP (IFEL), FOUNDED IN 2002, IS AN INDEPENDENT, NOTFORPROFIT ORGANIZATION THAT SUPPORTS ECONOMIC DEVELOPMENT THROUGH ENTREPRENEURSHIP. WE ENVISION A FUTURE WITH INCLUSIVE ENTREPRENEURIAL ECOSYSTEMS IN WHICH PEOPLE FROM HISTORICALLY EXCLUDED POPULATIONS HAVE EQUAL OPPORTUNITY FOR SUCCESS. IN PURSUIT OF THIS VISION, OUR MISSION IS TO ERADICATE THE SYSTEMIC BARRIERS THAT PREVENT PEOPLE FROM HISTORICALLY EXCLUDED POPULATIONS FROM BEING ABLE TO ACCESS THE KNOWLEDGE, NETWORKS, AND CAPITAL REQUIRED FOR ENTREPRENEURIAL SUCCESS AND WEALTH CREATION. LEARN MORE ABOUT IFEL AT WWW.WEAREIFEL.ORG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELATIONSHIP CAPITAL CONNECTIONS (WOMEN OF COLOR CONNECTING) - WOMEN OF COLOR CONNECTING LEVERAGES THE POWER OF RELATIONSHIP CAPITAL. BECAUSE CAPITAL CONSTRAINT REMAINS A DEFINING PROBLEM FOR THE MAJORITY OF WOMEN OF COLOR ENTREPRENEURS.
INVESTOR INCLUSION (THE MAKING OF BLACK ANGELS)- THE MAKING OF BLACK ANGELS IS A MOVEMENT TO INCREASE THE NUMBER OF BLACK ANGEL INVESTORS.
SMALL BUSINESS CAPACITY BUILDING - A VOLUNTEER CORPS OF BUSINESS PROFESSIONALS READY TO HELP SMALL BUSINESSES GET BACK ON THE RIGHT TRACK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Johnson Chief Executive Officer | Officer | 40 | $220,572 |
Pasquale Nocito Treasurer | Trustee | 1 | $0 |
Zoe Bogan Director | Trustee | 1 | $0 |
Larry Bailin Chairman | Trustee | 1 | $0 |
Stephen White Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,233,209 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,233,209 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,233,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $91,920 |
| Compensation of current officers, directors, key employees. | $91,920 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $382,433 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,465 |
| Fees for services: Management | $138,029 |
| Fees for services: Legal | $14,283 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,353 |
| Office expenses | $2,945 |
| Information technology | $23,540 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $210 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,671 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,975 |
| All other expenses | $0 |
| Total functional expenses | $772,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,071,860 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,767 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,124,627 |
| Accounts payable and accrued expenses | $138,778 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $138,778 |
| Net assets without donor restrictions | $71,576 |
| Net assets with donor restrictions | $914,273 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,124,627 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Institute For Entrepreneurial Leadership Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: PROGRAM SUPPORT: SMALL BUSINESS STRENGTH | | $30,000 |
Nia Community Foundation Wilmington, DE PURPOSE: CHARITABLE EVENT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Choose New Jersey Inc Newark, NJ | $7,145,867 | $9,053,939 |