Network For Teaching Entrepreneurship

Organization Overview

Network For Teaching Entrepreneurship, operating under the name Nfte, is located in New York, NY. The organization was established in 1987. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. As of 06/2021, Nfte employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nfte 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 06/2021, Nfte generated $12.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $10.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE EDUCATIONAL PROGRAMS, ACTIVATE ENTREPRENEURIAL MINDSET AND TEACH BUSINESS/ACADEMIC SKILLS TO YOUTH IN UNDER-RESOURCED COMMUNITIES, INCREASING COLLEGE/CAREER READINESS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

STUDENTS IN NFTE PROGRAMS LEARN HOW TO DEVELOP A BUSINESS PLAN AND HOW TO MARKET THEIR BUSINESS CONCEPT. THROUGH THE PROCESS OF CREATING THEIR OWN BUSINESS IDEA, NFTE STUDENTS BUILD BUSINESS AND ACADEMIC SKILLS, ARE INTRODUCED TO NEW CAREER PATHS, AND LEARN ABOUT A WIDE RANGE OF JOBS AND OCCUPATIONS. THEY ALSO DEVELOP THEIR ENTREPRENEURIAL MINDSET. NFTE STUDENTS LEARN TO THINK AND ACT LIKE ENTREPRENEURS, DEMONSTRATING SKILLS SUCH AS INITIATIVE AND SELF-RELIANCE, FLEXIBILITY AND ADAPTABILITY, CRITICAL THINKING AND PROBLEM SOLVING, COMMUNICATION AND COLLABORATION, CREATIVITY AND INNOVATION, OPPORTUNITY RECOGNITION, AND FUTURE ORIENTATION. THE ENTREPRENEURIAL MINDSET, TOGETHER WITH THE SKILLS NFTE TEACHES, PREPARES YOUTH FOR COLLEGE AND CAREER SUCCESS. NFTE PARTNERS WITH SCHOOLS, COMMUNITY GROUPS, AND YOUTH DEVELOPMENT ORGANIZATIONS TO BRING ENTREPRENEURSHIP EDUCATION TO DIVERSE LEARNERS. OUR WORK FOCUSES PRIMARILY ON MIDDLE AND HIGH SCHOOL STUDENTS IN UNDER-RESOURCED COMMUNITIES. WE TARGET PUBLIC SCHOOL DISTRICTS WITH FREE AND REDUCED LUNCH (FRL) ELIGIBILITY RATES OF 50% OR MORE, AND MOST OF OUR PARTNER SCHOOLS HAVE FRL RATES OF 70-80%. THE NFTE MODEL LEVERAGES CLASSROOM TEACHERS TO DELIVER THE NFTE CURRICULUM. THE BENEFIT TO NFTE IS THAT TEACHERS ARE PAID BY THEIR RESPECTIVE SCHOOL DISTRICTS. THE CHALLENGE FOR THE ORGANIZATION'S CONTRIBUTORS AND ASSESSORS IS RECOGNIZING THE ECONOMIC VALUE OF THOSE TEACHERS IS EXCLUDED, IN TAX REPORTING, FROM THE MEASUREMENT OF EXPENDITURES RELATED TO PROGRAM EFFORTS. THE TEACHERS ARE ESSENTIAL TO MEETING THE ORGANIZATION'S MISSION, THUS THE ECONOMIC VALUE MUST BE FACTORED INTO ANY ASSESSMENT OF THE ORGANIZATION TO HAVE A TRUE COMPARISON WITH OTHER ORGANIZATIONS.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bdo Usa Llp
Audit & Tax
$142,438
K Moody Associates
Website Maintenance
$172,342
Lambert Co
Consulting Services
$123,879
Legend Productions Inc
Production Services
$105,752
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$74,223
Related organizations$750,000
Government grants $1,079,700
All other contributions, gifts, grants, and similar amounts not included above$8,710,125
Noncash contributions included in lines 1a–1f $28,269
Total Revenue from Contributions, Gifts, Grants & Similar$10,614,048
Total Program Service Revenue$1,364,124
Investment income $30
Tax Exempt Bond Proceeds $0
Royalties $105,579
Net Rental Income $0
Net Gain/Loss on Asset Sales -$326
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$3,258
Miscellaneous Revenue$0
Total Revenue $12,214,690

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Network For Teaching Entrepreneurship has recieved totaling $31,500.

Awarding OrganizationAmount
First Interstate Bancsystem Foundation Inc

Billings, MT

PURPOSE: GENERAL OPERATING SUPPORT

$31,500
View Grant Recipient Profile

Create an account to unlock the data you need.

or