Credential Engine Inc
- Assets
- $4.1m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 19
- Location
- Washington, DC
- Founding
- 12/2016
- Data as of
- 12/2023
- 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 12/2023, Credential Engine Inc employed 19 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 12/2023, Credential Engine Inc generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. 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 IMPROVE TRANSPARENCY IN THE CREDENTIALING MARKETPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAMS: CREDENTIAL ENGINE, INC. MAINTAINS AN OPEN REGISTRY OF ALL CREDENTIALS, DESCRIBES THEM USING A COMMON LANGUAGE AND SUPPORTS AN OPEN APPLICATION MARKETPLACE TO ALLOW USER ACCESS TO THE CREDENTIAL DATA.
POLICY - AS REQUESTED, CREDENTIAL ENGINE EDUCATES AND SUPPORTS POLICY MAKERS AT INSTITUTION, SYSTEM, STATE, FEDERAL, AND NATIONAL LEVELS SO THEY CAN CRAFT GUIDANCE, REGULATION, FUNDING, PROCUREMENT, OR LEGISLATIVE ACTIONS TO ADVANCE CREDENTIAL TRANSPARENCY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Cheney Executive Director & CEO | Officer | 40 | $293,460 |
Deborah Everhart Chief Strategy Officer | Officer | 40 | $202,703 |
Jeanne Kitchens Chief Technical Services Officer | Officer | 40 | $158,321 |
Barbara Gellman-Danley Chair | OfficerTrustee | 3 | $0 |
Jeffrey Grann Credential Solutions Lead | 40 | $146,245 | |
Michael Parsons Senior Solutions Engineer | 40 | $130,312 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marucco Stoddard Ferenbach & Walsh In Consulting | 12/30/23 | $193,600 |
Iqm Workforce Analytics Llc Consulting | 12/30/23 | $152,616 |
Cea Scholtes And Associates Accounting | 12/30/23 | $104,389 |
Learning Tapestry Consulting | 12/30/23 | $100,724 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $150,057 |
| All other contributions, gifts, grants, and similar amounts not included above | $936,296 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,086,353 |
| Total Program Service Revenue | $2,702,401 |
| Investment income | $19,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $577 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,809,313 |
| 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. | $800,093 |
| Compensation of current officers, directors, key employees. | $213,548 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,169,664 |
| Pension plan accruals and contributions | $38,133 |
| Other employee benefits | $220,749 |
| Payroll taxes | $133,155 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,851 |
| Fees for services: Accounting | $90,923 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,563 |
| Fees for services: Other | $965,932 |
| Advertising and promotion | $0 |
| Office expenses | $9,358 |
| Information technology | $64,327 |
| Royalties | $0 |
| Occupancy | $8,148 |
| Travel | $71,617 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,343 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,087 |
| Insurance | $9,777 |
| All other expenses | $2,920 |
| Total functional expenses | $3,659,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,454,297 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $100,059 |
| Accounts receivable, net | $394,169 |
| 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 | $3,448 |
| Net Land, buildings, and equipment | $19,094 |
| Investments—publicly traded securities | $2,074,586 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,844 |
| Other assets | $0 |
| Total assets | $4,055,497 |
| Accounts payable and accrued expenses | $118,445 |
| Grants payable | $120,000 |
| 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 | $238,445 |
| Net assets without donor restrictions | $3,320,480 |
| Net assets with donor restrictions | $496,572 |
| 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 | $4,055,497 |