Business And Education Network Inc
- Assets
- $602.7k
- Revenue
- $198.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 04/1999
- Data as of
- 12/2023
- 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 12/2023, Business And Education Network Inc generated $198.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $347.7k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BEN WAS FORMED TO ASSIST IN ENSURING AN AVAILABLE SKILLED WORKFORCE FOR LEXINGTON THROUGH A COLLABORATIVE BUSINESS, EDUCATION, AND COMMUNITY PARTNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL COMPETITIVENESS PLAN - DEVELOPMENT OF A REGIONAL ECONCOMIC DEVELOPMENT COMPETITIVENESS STRATEGY WITH INPUT AND REPRESENTATION FROM THE NINE COUNTIES THAT COMPRISE CENTRAL KENTUCKY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tucker Ballinger Officer | OfficerTrustee | 1 | $0 |
Mark Manuel Officer | OfficerTrustee | 1 | $0 |
Eric Sauvage Board Member | Trustee | 1 | $0 |
Daryl Smith Officer | OfficerTrustee | 1 | $0 |
Mary Ann Vimont Officer | OfficerTrustee | 1 | $0 |
Elisa Bruce Board Member | Trustee | 1 | $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 | $177,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,174 |
| Total Program Service Revenue | $0 |
| Investment income | $20,990 |
| 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 | $198,164 |
| 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 | $128,572 |
| Pension plan accruals and contributions | $6,538 |
| Other employee benefits | $9,102 |
| Payroll taxes | $10,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,200 |
| 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 | $8,400 |
| Royalties | $0 |
| Occupancy | $10,436 |
| Travel | $6,198 |
| 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 | $1,071 |
| All other expenses | $464 |
| Total functional expenses | $347,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $573,219 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,676 |
| 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 | $23,790 |
| Total assets | $602,685 |
| Accounts payable and accrued expenses | $23,910 |
| 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 | $23,910 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $578,775 |
| 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 | $602,685 |