Emerging Enterprise Center Inc
- Assets
- $582.0k
- Revenue
- $487.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 10/2013
- Data as of
- 12/2021
- EIN
- 27-3709704
Organization Overview
Emerging Enterprise Center Inc is located in Wilmington, DE. The organization was established in 2013. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emerging Enterprise Center 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, Emerging Enterprise Center Inc generated $487.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $449.4k 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
TO ENCHANCE THE CHANCES FOR SUCCESS OF PERSONS STARTING NEW BUSINESSES, BY FACILITATING THE EDUCATION AND BUSINESS SKILL DEVELOPMENT, THROUGH A COMPREHENSIVE PROGRAM OF SUPPORT, ADVICE AND ACCESS, SO THAT THEY CAN GRADUATE WITH A SUSTAINABLE BUSINESS MODEL WHICH WILL ENABLE THEM TO SUBSTANTIALLY CONTRIBUTE TO THE SOCIAL MISSION OF IMPROVING THE OVERALL ECONOMIC HEALTH OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCHANCE THE CHANCES FOR SUCCESS OF PERSONS STARTING NEW BUSINESSES, BY FACILITATING THE EDUCATION AND BUSINESS SKILL DEVELOPMENT, THROUGH A COMPREHENSIVE PROGRAM OF SUPPORT, ADVICE AND ACCESS, SO THAT THEY CAN GRADUATE WITH A SUSTAINABLE BUSINESS MODEL WHICH WILL ENABLE THEM TO SUBSTANTIALLY CONTRIBUTE TO THE SOCIAL MISSION OF IMPROVING THE OVERALL ECONOMIC HEALTH OF THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Chadwick President | OfficerTrustee | 3 | $0 |
Matthew Parks Director | Trustee | 0.5 | $0 |
Tim Boulden Director | Trustee | 0.5 | $0 |
Mark Olazagasti Director | Trustee | 0.5 | $0 |
Neil Killian Director | Trustee | 0.5 | $0 |
Christine Schiltz Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $268,125 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,608 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $278,733 |
| Total Program Service Revenue | $2,871 |
| Investment income | $450 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $205,448 |
| 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 | $487,502 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,136 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,300 |
| Payroll taxes | $6,390 |
| Fees for services: Management | $50,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,687 |
| Advertising and promotion | $1,132 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $231,594 |
| 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 | $0 |
| Total functional expenses | $449,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $483,015 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,025 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,076 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,905 |
| 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 | $582,021 |
| Accounts payable and accrued expenses | $227,895 |
| 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 | $227,895 |
| Net assets without donor restrictions | $235,618 |
| Net assets with donor restrictions | $118,508 |
| 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 | $582,021 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Association Of Educational Procurement Inc Columbia, MD | $1,316,674 | $1,317,675 |
Nonprofit Development Corporation Inc Butler, PA | $3,393,535 | $1,924,841 |
Nonprofit Village Center Inc Rockville, MD | $400,485 | $644,836 |
Emerging Enterprise Center Inc Wilmington, DE | $582,021 | $487,502 |
Joie De Vie Properties Inc River Edge, NJ | $2,727,381 | $246,224 |
Center In Midland Pa Midland, PA | $232,032 | $289,321 |
South Asian Engagement Foundation A Nj Nonprofit Corporation Metuchen, NJ | $127,911 | $224,254 |
Northpointe At Slate Lick Lot Owners Association Kittanning, PA | $319,576 | $99,327 |
Creative Placemaking Communities South Orange, NJ | $6,262 | $0 |
Glad Valley Community Services Inc Walkersville, MD | $833,111 | $95,718 |
Arab-American Development Corp Philadelphia, PA | $163,946 | $0 |
New Jersey Land Title Institute A New Jersey Non-Profit Corporation Freehold, NJ | $67,487 | $0 |