Center For Venture Education Inc
- Assets
- $101.9m
- Revenue
- $6.0m
- Investments
- $97.9m
- Employees
- 11
- Location
- Sacramento, CA
- Founding
- 02/2002
- Data as of
- 06/2023
- EIN
- 48-1249429
Organization Overview
Center For Venture Education Inc is located in Sacramento, CA. The organization was established in 2002. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2023, Center For Venture Education Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Venture Education 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 06/2023, Center For Venture Education Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $5.8m during the year ending 06/2023. While expenses have increased by 4.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EXPERIENCE BASED EDUCATION AND RESEARCH INITIATIVES TO EDUCATE VENTURE INVESTORS IN A SCHOOL-TYPE SETTING USING AN ESTABLISHED CURRICULUM, A REGULAR FACULTY WITH EXTENSIVE EXPERIENCE IN VENTURE CAPITAL AND A TEAM OF EDUCATIONAL PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KAUFFMAN FELLOWS PROGRAM - 59 NEW KAUFFMAN FELLOWS HAVE BEEN SELECTED FROM AN APPLICANT POOL OF 260. THE NEW CLASS IS FAIRLY EVENLY DIVIDED BETWEEN LIFESCIENCES, FINANCIAL SERVICES, INFORMATION TECHNOLOGY AND GENERAL SERVICES. APPROXIMATELY 46% OF THE CLASS ARE INTERNATIONAL INCLUDING THOSE FROM THE MIDDLE EAST, LATIN AMERICA, ASIA, AND EUROPE. DUE TO COVID, THE PROGRAM WAS EXTENDED BEYOND 2 YEARS AND 61 FELLOWS GRADUATED IN NOVEMBER 2022, AN ADDITIONAL 57 GRADUATED IN JUNE 2023 AND 59 ARE HALFWAY THROUGH THE PROGRAM AND WILL GRADUATE IN JUNE 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Harbach CEO | Officer | 39 | $457,446 |
Natasha Funk VP Recruiting | Officer | 40 | $295,000 |
Kirsten Owens Chief Of Staff | 40 | $208,250 | |
Lisa Doherty VP Of Finance | Officer | 37 | $193,200 |
Katherine Sarro Director Of Marketing | 40 | $200,500 | |
Jacqueline Hughes Director Of Events | 40 | $173,125 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Event Management And Expenses | 6/29/18 | $461,937 |
Bill Tobin Program And Module Consulting | 6/29/18 | $180,000 |
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 | $219,166 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $219,166 |
| Total Program Service Revenue | $5,718,805 |
| Investment income | $38,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $74 |
| 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 | $5,976,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $544,598 |
| Grants and other assistance to Foreign Orgs/Individuals | $308,585 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $978,468 |
| Compensation of current officers, directors, key employees. | $420,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $916,029 |
| Pension plan accruals and contributions | $25,338 |
| Other employee benefits | $298,258 |
| Payroll taxes | $124,951 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,199 |
| Fees for services: Accounting | $51,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $136,554 |
| Fees for services: Other | $404,148 |
| Advertising and promotion | $136,065 |
| Office expenses | $121,210 |
| Information technology | $30,136 |
| Royalties | $0 |
| Occupancy | $2,616 |
| Travel | $452,149 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,112,520 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,591 |
| Insurance | $20,014 |
| All other expenses | $0 |
| Total functional expenses | $5,768,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,726,213 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,345 |
| 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 | $48,387 |
| Net Land, buildings, and equipment | $18,091 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $97,850,526 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,967 |
| Total assets | $101,920,529 |
| Accounts payable and accrued expenses | $303,749 |
| Grants payable | $0 |
| Deferred revenue | $4,877,999 |
| 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 | $5,181,748 |
| Net assets without donor restrictions | $96,579,934 |
| Net assets with donor restrictions | $158,847 |
| 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 | $101,920,529 |