Association For Enterprise Opportun Ity Inc
- Assets
- $12.0m
- Revenue
- $13.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Washington, DC
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 36-3834357
Organization Overview
Association For Enterprise Opportun Ity Inc is located in Washington, DC. The organization was established in 1997. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Association For Enterprise Opportun Ity Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association For Enterprise Opportun Ity 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, Association For Enterprise Opportun Ity Inc generated $13.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.5% each year . All expenses for the organization totaled $18.1m during the year ending 12/2021. While expenses have increased by 41.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
AEO IS THE VOICE OF INNOVATION IN MICROBUSINESS AND MICROFINANCE IN THE UNITED STATES. AEO WORKS TO CHANGE THE WAY THAT CAPITAL AND SERVICES FLOW TO UNDERSERVED ENTREPRENEURS SO THAT THEY CAN CREATE JOBS AND OPPORTUNITIES FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INNOVATION INNOVATION AT THE ORGANIZATION IS A FACILITATED PROCESS FOR ENGAGING COHORTS OF DIVERSE STAKEHOLDERS AND CO-DESIGNING NEW SOLUTIONS AND PLATFORMS THAT DRIVE TRANSFORMATIONAL CHANGE. THE INNOVATION PROGRAM USES THE ORGANIZATION'S CORE COMPETENCIES TO GENERATE TRANSFORMATIONAL CHANGE. ITS GOAL IS TO BUILD A MORE ROBUST AND INCLUSIVE MARKETPLACE FOR UNDERSERVED MICROBUSINESS ENTREPRENEURS. THE ORGANIZATION BRINGS A SERIES OF UNIQUE COMPETENCIES TO INNOVATION: A SYSTEMIC UNDERSTANDING, A CAPACITY TO COLLABORATE AND PARTNER WITH A BROAD AND DIVERSE RANGE OF MARKET ACTORS - AN ENTREPRENEURIAL, RESOURCEFUL APPROACH.
ENGAGEMENT COMMUNICATIONS POLICY THE ORGANIZATION IS LEADING SEVERAL INITIATIVES AROUND THE COUNTRY TO STRENGTHEN THE ORGANIZATION'S CAPACITY AND REACH TO UNDERSERVED ENTREPRENEURS. AEO HOSTS AN ANNUAL NATIONAL CONFERENCE TO PROVIDE TRAINING AND NETWORKING OPPORTUNITIES TO ITS MEMBERS AND THE INDUSTRY. AEO PROMOTES NETWORKING AND INFORMATION SHARING AMONG ITS MEMBERS VIA VARIOUS COMMUNICATIONS VEHICLES, SUCH AS THE AEO VOICE, THE ORGANIZATION'S WEBSITE, AND ROUNDTABLE DISCUSSIONS.
RESEARCH AND INSIGHTS THE ORGANIZATION'S RESEARCH PROVIDES TIMELY INFORMATION ON THE INDUSTRY, INCLUDING ANALYZING MICROBUSINESSES' ECONOMIC IMPACT AND NEEDS. RESEARCH PRODUCES NEW INSIGHTS THAT CAN ASSIST WITH RESOURCE ALLOCATION FOR FUNDERS, GUIDE ADVOCACY PRIORITIES, AND OFFER INDUSTRY SERVICE PROVIDERS AND LENDERS INFORMATION THAT CAN DEEPEN THEIR IMPACT. THE ORGANIZATION'S RESEARCH UTILIZES DATA FROM A VARIETY OF SOURCES TO PROVIDE ANALYSES TO ILLUSTRATE THE MICROBUSINESS LANDSCAPE. --- POLICY AND ADVOCACY POLICY AND ADVOCACY EFFORTS FOCUS ON THE NEEDS OF THE MICROBUSINESS INDUSTRY IN THE AREAS OF TRAINING AND TECHNICAL ASSISTANCE, ACCESS TO MARKETS, CREDIT ACCESS, AND ASSET DEVELOPMENT STRATEGIES. THE ORGANIZATION ADVOCATES FOR FEDERAL PROGRAMS AND POLICIES THAT INVEST IN MICROBUSINESSES AND UNDERSERVED ENTREPRENEURS.
BLACK INNOVATION ALLIANCE BLACK INNOVATION ALLIANCE IS A COALITION OF LIKE-MINDED BLACK-LED AND BLACK-SERVING COMPANIES AND ORGANIZATIONS WORKING TO ENSURE BLACK OWNERSHIP IS INCREASING THROUGH FAIR PARTICIPATION IN THE INNOVATION ECONOMY. THROUGH 2021, AEO WAS THE FISCAL SPONSOR FOR BLACK INNOVATION ALLIANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connie Evans President & | Officer | 40 | $277,718 |
Nou Vang Vp, Operatio | 40 | $140,667 | |
Gary L Cunningham Chair | OfficerTrustee | 6 | $0 |
Ron Fong Secretary | OfficerTrustee | 3 | $0 |
Joshua Brackett Treasurer | OfficerTrustee | 3 | $0 |
Ines Polonius Vice Chair | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Abcd Company Communications | 12/30/21 | $1,206,663 |
Proposal Dream Team Grant Review | 12/30/21 | $460,942 |
Cornerstone Compliance Inc Consulting | 12/30/21 | $213,576 |
Prism Strategy Inc Consulting | 12/30/21 | $138,920 |
Korn Ferry Us Consulting | 12/30/21 | $117,000 |
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 | $13,134,755 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,134,755 |
| Total Program Service Revenue | $209,611 |
| Investment income | $355 |
| 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 | $13,346,284 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,375,970 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $277,718 |
| Compensation of current officers, directors, key employees. | $27,772 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $893,982 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $82,721 |
| Payroll taxes | $84,193 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,030 |
| Fees for services: Accounting | $127,408 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,356,486 |
| Advertising and promotion | $81,812 |
| Office expenses | $64,220 |
| Information technology | $208,479 |
| Royalties | $0 |
| Occupancy | $99,675 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,484 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $271,102 |
| Insurance | $35,245 |
| All other expenses | $3,976 |
| Total functional expenses | $18,136,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,664,392 |
| Savings and temporary cash investments | $754,815 |
| Pledges and grants receivable | $1,368,167 |
| Accounts receivable, net | $50,270 |
| 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 | $14,256 |
| Net Land, buildings, and equipment | $1,089,388 |
| Investments—publicly traded securities | $11,815 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,110 |
| Total assets | $11,965,213 |
| Accounts payable and accrued expenses | $289,505 |
| Grants payable | $0 |
| Deferred revenue | $4,362,477 |
| 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 | $57,000 |
| Total liabilities | $4,708,982 |
| Net assets without donor restrictions | $5,198,695 |
| Net assets with donor restrictions | $2,057,536 |
| 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 | $11,965,213 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Association For Enterprise Opportun Ity Inc has recieved totaling $460,348.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $302,194 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $100,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $58,154 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Associated Jewish Community Federation Of Baltimore Inc Baltimore, MD | $42,735,304 | $45,612,361 |
Associated Jewish Charities Of Baltimore Baltimore, MD | $398,678,795 | $51,667,875 |
Americas Charities Chantilly, VA | $19,664,098 | $37,274,660 |
The Jewish Federation Of Greater Washington Inc North Bethesda, MD | $260,201,202 | $41,780,933 |
United Way Of South Hampton Roads Norfolk, VA | $66,003,873 | $28,678,324 |
United Way Of The National Capital Area Vienna, VA | $52,010,356 | $25,572,571 |
United Way Of Greater Richmond Richmond, VA | $16,886,120 | $22,666,995 |
Chc Creating Healthier Communities Alexandria, VA | $23,119,840 | $20,885,598 |
Association For Enterprise Opportun Ity Inc Washington, DC | $11,965,213 | $13,346,284 |
Safa Trust Inc Herndon, VA | $343,266,740 | $16,390,451 |
Associated Black Charities Inc Baltimore, MD | $5,817,793 | $15,343,076 |
Tidewater Jewish Foundation Inc Virginia Beach, VA | $49,573,361 | $8,475,302 |