Credential Engine Inc
- Assets
- $2.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 11
- Location
- Washington, DC
- Founding
- 12/2016
- Data as of
- 12/2021
- EIN
- 81-3389623
Organization Overview
Credential Engine Inc is located in Washington, DC. The organization was established in 2016. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 12/2021, Credential Engine Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Credential Engine 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, Credential Engine Inc generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $3.0m during the year ending 12/2021. 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
CREDENTIAL ENGINE IS A NON-PROFIT WHOSE MISSION IS TO CREATE CREDENTIAL TRANSPARENCY, REVEAL THE CREDENTIAL MARKETPLACE, INCREASE CREDENTIAL LITERACY, AND EMPOWER EVERYONE TO MAKE MORE INFORMED DECISIONS ABOUT CREDENTIALS AND THEIR VALUE. CREDENTIAL ENGINE PROVIDES A SUITE OF WEB-BASED SERVICES THAT CREATES FOR THE FIRST TIME A CENTRALIZED CREDENTIAL REGISTRY TO HOUSE UP-TO-DATE INFORMATION ABOUT ALL CREDENTIALS, A COMMON DESCRIPTION LANGUAGE TO ENABLE CREDENTIAL COMPARABILITY, AND A PLATFORM TO SUPPORT CUSTOMIZED APPLICATIONS TO SEARCH AND RETRIEVE INFORMATION ABOUT CREDENTIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE MAINTAIN AN OPEN REGISTRY OF ALL CREDENTIALS, DESCRIBE THEM USING A COMMON LANGUAGE AND SUPPORT AN OPEN APPLICATION MARKETPLACE TO ALLOW USER ACCESS TO THE CREDENTIAL DATA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Cheney Ceo/executive Director | Officer | 40 | $221,833 |
Deborah Everhart Chief Strategy Officer | 40 | $176,092 | |
Jeanne Kitchens Chief Technology Services Officer | 40 | $156,389 | |
Jeffry Grann Credential Solutions Lead | 40 | $124,770 | |
Michael Parsons Senior Solutions Architect | 40 | $115,852 | |
Aaron Fichtner Vice Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hattaway Communications Consulting | 12/30/20 | $157,500 |
Learning Tapestry Consulting | 12/30/20 | $100,631 |
Eduworks Consulting | 12/30/20 | $108,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $86,918 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,181,081 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,267,999 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $3,267,999 |
| 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. | $234,063 |
| Compensation of current officers, directors, key employees. | $29,560 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,137,743 |
| Pension plan accruals and contributions | $34,382 |
| Other employee benefits | $218,871 |
| Payroll taxes | $101,191 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,704 |
| Fees for services: Accounting | $80,164 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,123,270 |
| Advertising and promotion | $0 |
| Office expenses | $17,309 |
| Information technology | $32,451 |
| Royalties | $0 |
| Occupancy | $17,647 |
| Travel | $1,640 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $757 |
| Interest | $272 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,203 |
| Insurance | $5,573 |
| All other expenses | $10,000 |
| Total functional expenses | $3,031,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,318,806 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $486,033 |
| 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 | $10,227 |
| Net Land, buildings, and equipment | $2,456 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,929 |
| Other assets | $0 |
| Total assets | $2,829,451 |
| Accounts payable and accrued expenses | $471,773 |
| 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 | $471,773 |
| Net assets without donor restrictions | $932,796 |
| Net assets with donor restrictions | $1,424,882 |
| 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 | $2,829,451 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Credential Engine Inc has recieved totaling $1,636,575.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: RESEARCH AND LEARNING OPPORTUNITIES | $637,779 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: RESEARCH AND LEARNING OPPORTUNITIES | $361,296 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT TO LAY THE GROUNDWORK TO UTILIZE CREDENTIAL TRANSPARENCY AND A COMMON DATA INFRASTRUCTURE ACROSS THE KANSAS CITY REGION. 202108-11050 | $247,500 |
Walton Family Foundation Inc Bentonville, AR PURPOSE: PROMOTE CREDENTIAL TRANSPARENCY AT THE SECONDARY SCHOOL LEVEL AND SUPPORT SYSTEMS. | $200,000 |
Denver Foundation Denver, CO PURPOSE: TO PROVIDE SUPPORT FOR THE EXPANSION OF SECONDARY CREDENTIAL TRANSPARENCY IN COLORADO | $100,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: POSTSECONDARY EDUCATION | $90,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Public And Land-Grant Universities Washington, DC | $44,260,531 | $22,104,494 |
Association Of Governing Boards Of Universities And Colleges Washington, DC | $19,633,060 | $15,066,269 |
American Association Of State Colleges And Universities Washington, DC | $33,003,801 | $11,451,095 |
Institute For The Psychological Sciences Sterling, VA | $8,909,677 | $11,624,455 |
Accreditation Board For Engineering And Technology Inc Baltimore, MD | $25,462,231 | $12,376,690 |
Consortium Of Universities Of The Washington Metropolitan Area Washington, DC | $2,518,599 | $5,635,186 |
Credential Engine Inc Washington, DC | $2,829,451 | $3,267,999 |
Project Discovery Inc Roanoke, VA | $402,058 | $1,230,095 |
California University Of Management& Sciences Fairfax, VA | $6,334,873 | $769,746 |
Virginia Advanced Study Strategiesinc South Boston, VA | $383,937 | $438,688 |
Marylandonline Inc Annapolis, MD | $1,289,930 | $164,395 |
Williams-Franklin Foundation Washington, DC | $140,959 | $0 |