Business And Education Network Inc
- Assets
- $811.5k
- Revenue
- $200.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 04/1999
- Data as of
- 12/2021
- EIN
- 31-1628472
Organization Overview
Business And Education Network Inc is located in Lexington, KY. The organization was established in 1999. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business And Education Network 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, Business And Education Network Inc generated $200.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $182.0k 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
BEN WAS FORMED TO ASSIST IN INSURING AN AVAILABLE SKILLED WORKFORCE FOR LEXINGTON THROUGH A COLLABORATIVE BUSINESS, EDUCATION, AND COMMUNITY PARTNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIES OF LEXINGTON - THE ACADEMIES OF LEXINGTON ARE SMALL LEARNING COMMUNITIES WITHIN FAYETTE COUNTY PUBLIC HIGH SCHOOLS. THEY ALLOW STUDENTS TO CONNECT WHAT THEY'RE LEARNING IN THE CLASSROOM WITH REAL-WORLD APPLICATIONS. THE ACADEMIES PROVIDE STUDENTS WITH A NEW KIND OF EDUCATION EXPERIENCE THAT HELPS THEM THRIVE IN TODAY'S ECONOMY. THE ACADEMIES OF LEXINGTON IS A PARTNERSHIP BETWEEN FAYETTE COUNTY PUBLIC HIGH SCHOOLS, STUDENTS, FAMILIES, EDUCATORS, BUSINESSES AND COMMUNITY PARTNERS. THE INITIATIVE IS UNITING LEXINGTON BEHIND THE CAUSE OF TRANSFORMING PUBLIC EDUCATORS IN OUR CITY.
STRATEGIC PLANNING INITIATIVE - THE BUSINESS & EDUCATION NETWORK HIRED INNOVATIVE QUALITY SOLUTIONS (IQS), A CUSTOM MARKET RESEARCH AND DATA ANALYTICS FIRM, TO HELP DEVELOP AND EXECUTE A TALENT AND WORKFORCE STRATEGY THAT ALIGNS WITH THE NEEDS OF OUR REGION. THE OBJECTIVE OF THE STRATEGIC PLAN IS TO ENSURE THAT THERE IS A PIPELINE OF TALENT TO FILL THE JOBS THAT ARE OPEN AND WILL BE GROWING IN LEXINGTON AND THE CENTRAL KY REGION. IQS IS ENSURING WE HAVE ACCURATE DATA AND ACTIONABLE INSIGHTS REGARDING THE CURRENT OCCUPATIONAL OUTLOOK AS WELL AS PSYCHOLOGICALLY-SOUND INSIGHTS REGARDING THE CURRENT LABOR MARKET AND ITS INTENDED PARTICIPANTS. THE RESEARCH FINDINGS WILL DIRECTLY INFORM THE DESIGN AND IMPLEMENTATION OF THE OPERATIONAL STRATEGIES AND PROVIDE THE INFORMATIONAL BACKBONE FOR A MULTI-YEAR INITIATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Helen E Dexter Executive Director | Officer | 40 | $108,536 |
Tucker Ballinger Officer | OfficerTrustee | 1 | $0 |
Mark Manuel Officer | OfficerTrustee | 1 | $0 |
Daryl Smith Officer | OfficerTrustee | 1 | $0 |
Mary Ann Vimont Officer | OfficerTrustee | 1 | $0 |
Eric Sauvage Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $77,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $120,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $197,522 |
| Total Program Service Revenue | $0 |
| Investment income | $2,634 |
| 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 | $200,156 |
| 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 | $114,361 |
| Pension plan accruals and contributions | $3,364 |
| Other employee benefits | $8,503 |
| Payroll taxes | $8,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| 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 | $0 |
| Information technology | $1,250 |
| Royalties | $0 |
| Occupancy | $3,840 |
| Travel | $2,261 |
| 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 | $396 |
| Insurance | $1,200 |
| All other expenses | $401 |
| Total functional expenses | $182,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $763,842 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,847 |
| 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 | $43,767 |
| Total assets | $811,456 |
| Accounts payable and accrued expenses | $29,220 |
| 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 | $29,220 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $782,236 |
| 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 | $811,456 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Business And Education Network Inc has recieved totaling $115,530.
| Awarding Organization | Amount |
|---|---|
Lexington Strides Ahead Foundation Lexington, KY PURPOSE: PROMOTE AND FUND WORKFORCE DEVELOPMENT IN LEXINGTON AND SURROUNDING AREAS | $95,530 |
Nisource Charitable Foundation Columbus, OH PURPOSE: CORPORATE DONATION | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |