Small Business Empowerment Center
- Assets
- $1.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Saint Louis, MO
- Founding
- 07/2010
- Data as of
- 12/2023
- EIN
- 80-0563561
Organization Overview
Small Business Empowerment Center is located in Saint Louis, MO. The organization was established in 2010. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Small Business Empowerment Center employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Small Business Empowerment Center 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, Small Business Empowerment Center generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 48.2% each year . All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 31.5% 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
THE SMALL BUSINESS EMPOWERMENT CENTER (SBEC) IS UNIQUELY QUALIFIED TO ASSIST SMALL BUSINESSES IN THE DISTRESSED AREAS OF ST. LOUIS COUNTY AND ST. LOUIS CITY. FOR 14 YEARS THE SBEC HAS WORKED IN THE EMPOWERMENT ZONE (EZ) TO HELP RESIDENTS AND ENTREPRENEURS START AND GROW BUSINESSES IN THE URBAN CORE. THE EZ WAS A FEDERALLY DESIGNATED DISTRESSED AREA THAT GAVE ECONOMIC DEVELOPMENT INCENTIVES - SUCH AS TAX CREDITS, LOANS AND BONDS TO HELP RELIEVE POVERTY IN CERTAIN GEOGRAPHIC REGIONS OF THE COUNTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SBEC PROGRAM IS DESIGNED TO DELIVER UP-TO-DATE COUNSELING, TRAINING AND TECHNICAL ASSISTANCE IN ALL ASPECTS OF SMALL BUSINESS MANAGEMENT. SBEC SERVICES INCLUDE, BUT ARE NOT LIMITED TO, ASSISTING SMALL BUSINESSES WITH FINANCIAL, MARKETING, ORGANIZATION, AND TECHNICAL PROBLEMS AND FEASIBILITY STUDIES.
N/A
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Wilson Program Director | Officer | 40 | $205,000 |
Reginald Scott Director | Trustee | 1 | $0 |
Michelle Stuckey Director | Trustee | 1 | $0 |
Denise Phillips Director | Trustee | 1 | $0 |
Craig Higgins Director | Trustee | 1 | $0 |
John Henderson Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,300,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,228,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,528,146 |
| Total Program Service Revenue | $6,666 |
| Investment income | $1,524 |
| 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 | $2,537,924 |
| 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. | $205,000 |
| Compensation of current officers, directors, key employees. | $41,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $486,186 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,000 |
| Payroll taxes | $52,515 |
| Fees for services: Management | $213,680 |
| Fees for services: Legal | $35,000 |
| Fees for services: Accounting | $21,118 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $119,814 |
| Advertising and promotion | $30,750 |
| Office expenses | $13,801 |
| Information technology | $12,836 |
| Royalties | $0 |
| Occupancy | $48,090 |
| Travel | $31,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,920 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,835 |
| Insurance | $4,095 |
| All other expenses | $0 |
| Total functional expenses | $1,442,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $791,336 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $998,519 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,616 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,392 |
| Net Land, buildings, and equipment | $14,219 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,848,082 |
| Accounts payable and accrued expenses | $36,266 |
| 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 | $73,000 |
| Total liabilities | $109,266 |
| Net assets without donor restrictions | $1,738,816 |
| Net assets with donor restrictions | $0 |
| 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 | $1,848,082 |
Grants Awarded
Over the last fiscal year, Small Business Empowerment Center has awarded $42,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF JENNINGS SCHOOL DISTRICT FOUNDATION PURPOSE: Assistance program | $10,000 |
SPECIAL SCHOOL DISTRICT OF ST LOUIS COUNTYMO EDUC FACILITIES AUTH PURPOSE: Assistance program | $32,500 |