Nfib Young Entrepreneur Foundation
- Assets
- $372.7k
- Revenue
- $36.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- Data as of
- 12/2018
- EIN
- 62-1557196
Organization Overview
Nfib Young Entrepreneur Foundation is located in Nashville, TN. Nfib Young Entrepreneur Foundation 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 12/2018, Nfib Young Entrepreneur Foundation generated $36.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (48.7%) each year. All expenses for the organization totaled $269.4k during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE NFIB YOUNG ENTREPRENEUR FOUNDATION'S MISSION IS TO EDUCATE YOUNG PEOPLE ABOUT THE CRITICAL ROLE OF SMALL BUSINESS AND THE AMERICAN FREE ENTERPRISE SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT A MEETING OF THE BOARD OF DIRECTORS IN FEBRUARY 2018, A RESOLUTION WAS ADOPTED FOR THE DISSOLUTION AND TERMINATION OF NFIB YOUNG ENTREPRENEUR FOUNDATION. AS PART OF THIS PROCESS, ALL PROGRAM ACTIVITIES CEASED. GRANTS AND REFUNDS TO DONORS SHOWN ON THE STATEMENT OF FUNCTIONAL ACTIVITIES REPRESENT THE ORGANIZATION'S DISBURSEMENT OF RESTRICTED FUNDS IN ACCORDANCE WITH THE DONORS' DIRECTIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Summers Chairman | Trustee | 0.25 | $0 |
Steve Schramm Director | Trustee | 0.25 | $0 |
Jeff Ready Director | Trustee | 0.25 | $0 |
Jose Villa Director | Trustee | 0.25 | $0 |
Sherry Wuebben Director | Trustee | 0.25 | $0 |
Tom Bryce Director | Trustee | 0.25 | $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 | $3,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,000 |
| Total Program Service Revenue | $0 |
| Investment income | $8,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,778 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,748 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $224,981 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,603 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,665 |
| Fees for services: Other | $300 |
| Advertising and promotion | $0 |
| Office expenses | $3,573 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $26,306 |
| Total functional expenses | $269,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,290 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $356,368 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $372,658 |
| Accounts payable and accrued expenses | $99 |
| 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 | $99 |
| Unrestricted restricted net Assets | $372,559 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $372,559 |
Grants Awarded
Over the last fiscal year, Nfib Young Entrepreneur Foundation has awarded $221,247 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
YORK COLLEGE OF PENNSYLVANIA PURPOSE: GENERAL SUPPORT | $173,517 |
INTERLOCHEN CENTER FOR THE ARTS PURPOSE: GENERAL SUPPORT | $26,644 |
THE FUND FOR AMERICAN STUDIES PURPOSE: GENERAL SUPPORT | $11,086 |
BEVILL STATE COMMUNITY COLLEGE FOUNDATION PURPOSE: GENERAL SUPPORT | $10,000 |