Entrepreneurship Foundation Inc
- Assets
- $192.7k
- Revenue
- $276.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfield, CT
- Founding
- 04/2008
- Data as of
- 12/2021
- EIN
- 26-1377831
Organization Overview
Entrepreneurship Foundation Inc is located in Fairfield, CT. The organization was established in 2008. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Entrepreneurship Foundation 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, Entrepreneurship Foundation Inc generated $276.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 21.9% each year . All expenses for the organization totaled $267.5k during the year ending 12/2021. 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
OUR MISSION IS TO PROVIDE EFFECTIVE RESOURCES FOR EDUCATORS AND ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS PLAN COMPETITIONS. FOR THE PAST 25 YEARS WE HAVE OPERATED A BUSINESS PLAN COMPETITION TWICE ANNUALLY FOR CONNECTICUT STUDENTS. IN 2021, WE SERVED 132 STUDENTS FROM 14 INSTITUTIONS OF HIGHER EDUCATION. WE ALSO ADDED COMPETITIONS FOR NON-STUDENTS, FOCUSED ON CREATIVE INDUSTRIES (FOOD AND MUSIC).
ENTREPRENEURSHIP SALES OUTLET THE ENTREPRENEURSHIP FOUNDATION PROVIDES A SALES OUTLET FOR ENTREPRENEURS TO SHOWCASE AND SELL THIER PRODUCTS. THIS OUTLET IS A BRICK AND MORTAR LOCATION IN DOWNTOWN BRIDGEPORT. THE ENTREPRENEURSHIP FOUNDATION ALSO PROVIDES AND MAINTAINS AN ONLINE STORE FOR THE SAME PURPOSE.
BRIDGEPORT BUSINESS CHALLENGE. A BUSINESS PLAN COMPETITION THAT DISTRIBUTED STARTUP GRANTS TO MEMBERS OF THE COMMUNITY WITH LIMITED PERSONAL ASSETS. A TOTAL OF $10,250 WAS RAISED FROM THE LOCAL ELECTRIC UTILITY AND THE COMMUNITY ECONOMIC DEVELOPMENT FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Roer President | OfficerTrustee | 20 | $30,000 |
Cliff Ennico Corporate Secretary | OfficerTrustee | 1 | $0 |
Doug Campbell Member Of Board Of Directors | Trustee | 1 | $0 |
Konsantine Drakonakis Member Of Board Of Directors | Trustee | 1 | $0 |
Tom Nassr Member Of Board Of Directors | Trustee | 1 | $0 |
Evan Kipperman Member Of Board Of Directors | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $262,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,362 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,612 |
| Total Program Service Revenue | $0 |
| Investment income | $7 |
| 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 | $276,619 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,967 |
| Grants and other assistance to domestic individuals. | $134,688 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $30,000 |
| Compensation of current officers, directors, key employees. | $30,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $17,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,865 |
| Office expenses | $2,395 |
| Information technology | $14,862 |
| Royalties | $0 |
| Occupancy | $6,864 |
| Travel | $311 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $934 |
| All other expenses | $1,097 |
| Total functional expenses | $267,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,938 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $95,082 |
| Accounts receivable, net | $8,726 |
| 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 | $192,746 |
| Accounts payable and accrued expenses | $30,000 |
| Grants payable | $0 |
| Deferred revenue | $50,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $24,842 |
| 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 | $104,842 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $87,904 |
| Total liabilities and net assets/fund balances | $192,746 |
Grants Awarded
Over the last fiscal year, Entrepreneurship Foundation Inc has awarded $18,537 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bridgeport, CT PURPOSE: Music Competition Expense | $11,537 |
Fairfield, CT PURPOSE: Student Competition Award | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Entrepreneurship Foundation Inc has recieved totaling $2,900.
| Awarding Organization | Amount |
|---|---|
Community Economic Development Fund Foundation Inc Meriden, CT PURPOSE: PROGRAM SUPPORT | $2,500 |
Calvin And Sally Hills Family Foundation Meriden, CT PURPOSE: GRANT | $400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uncommon Schools Inc New York, NY | $293,550,038 | $84,601,875 |
Amsterdam House Continuing Care Retirement Community Inc Port Washington, NY | $223,728,704 | $36,044,280 |
Sponsors For Educational Opportunity Inc New York, NY | $71,324,699 | $43,724,114 |
The Achievement Network Ltd Boston, MA | $23,559,572 | $30,118,976 |
Leadership For Educational Equity New York, NY | $8,736,194 | $32,582,451 |
Foundation For City College New York, NY | $332,549,861 | $102,453,904 |
Saga Innovations Framingham, MA | $30,229,601 | $39,236,690 |
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |