Nfte Endowment Fund Inc
- Assets
- $14.5m
- Revenue
- $693.2k
- Investments
- $46.5k
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2006
- Data as of
- 06/2021
- EIN
- 27-0135465
Organization Overview
Nfte Endowment Fund Inc is located in New York, NY. The organization was established in 2006. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nfte Endowment Fund 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 06/2021, Nfte Endowment Fund Inc generated $693.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $772.5k during the year ending 06/2021. 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
NFTE ENDOWMENT FUND, INC. IS A SUPPORTING ORGANIZATION FORMED FOR THE BENEFIT OF THE NETWORK FOR TEACHING ENTREPRENEURSHIP, A RELATED 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MADE A DISTRIBUTION TO NETWORK FOR TEACHING ENTREPRENEURSHIP (A RELATED 501(C)(3) ORGANIZATION).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Landon Hilliard Chair (thru 6/30/2021) | OfficerTrustee | 2 | $0 |
Dr Jean-Daniel Larock Ceo/president | OfficerTrustee | 1 | $0 |
Mary Radford Treasurer | Officer | 1 | $0 |
David Spreng Director | Trustee | 2 | $0 |
Tucker York Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $153,092 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $540,102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $693,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $750,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $205 |
| Information technology | $2,500 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $750 |
| Total functional expenses | $772,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,616,746 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $12,787,594 |
| Investments—other securities | $46,463 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,450,803 |
| Accounts payable and accrued expenses | $22,250 |
| 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 | $22,250 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $14,428,553 |
| 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 | $14,450,803 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nfte Endowment Fund Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Coghill Family Foundation Springfield, IL PURPOSE: EDUCATION SUPPORT AND AWARENESS | $5,000 |
Endowment Analysis
| Beg. Balance | $11,650,421 |
| Earnings | $3,550,587 |
| Other Expense | $772,455 |
| Ending Balance | $14,428,553 |
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|---|---|---|
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