Network For Teaching Entrepreneurship, operating under the name Nfte, is located in New York, NY. The organization was established in 1987. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. As of 06/2021, Nfte employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nfte 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 06/2021, Nfte generated $12.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $10.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 6 years. 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
TO PROVIDE EDUCATIONAL PROGRAMS, ACTIVATE ENTREPRENEURIAL MINDSET AND TEACH BUSINESS/ACADEMIC SKILLS TO YOUTH IN UNDER-RESOURCED COMMUNITIES, INCREASING COLLEGE/CAREER READINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENTS IN NFTE PROGRAMS LEARN HOW TO DEVELOP A BUSINESS PLAN AND HOW TO MARKET THEIR BUSINESS CONCEPT. THROUGH THE PROCESS OF CREATING THEIR OWN BUSINESS IDEA, NFTE STUDENTS BUILD BUSINESS AND ACADEMIC SKILLS, ARE INTRODUCED TO NEW CAREER PATHS, AND LEARN ABOUT A WIDE RANGE OF JOBS AND OCCUPATIONS. THEY ALSO DEVELOP THEIR ENTREPRENEURIAL MINDSET. NFTE STUDENTS LEARN TO THINK AND ACT LIKE ENTREPRENEURS, DEMONSTRATING SKILLS SUCH AS INITIATIVE AND SELF-RELIANCE, FLEXIBILITY AND ADAPTABILITY, CRITICAL THINKING AND PROBLEM SOLVING, COMMUNICATION AND COLLABORATION, CREATIVITY AND INNOVATION, OPPORTUNITY RECOGNITION, AND FUTURE ORIENTATION. THE ENTREPRENEURIAL MINDSET, TOGETHER WITH THE SKILLS NFTE TEACHES, PREPARES YOUTH FOR COLLEGE AND CAREER SUCCESS. NFTE PARTNERS WITH SCHOOLS, COMMUNITY GROUPS, AND YOUTH DEVELOPMENT ORGANIZATIONS TO BRING ENTREPRENEURSHIP EDUCATION TO DIVERSE LEARNERS. OUR WORK FOCUSES PRIMARILY ON MIDDLE AND HIGH SCHOOL STUDENTS IN UNDER-RESOURCED COMMUNITIES. WE TARGET PUBLIC SCHOOL DISTRICTS WITH FREE AND REDUCED LUNCH (FRL) ELIGIBILITY RATES OF 50% OR MORE, AND MOST OF OUR PARTNER SCHOOLS HAVE FRL RATES OF 70-80%. THE NFTE MODEL LEVERAGES CLASSROOM TEACHERS TO DELIVER THE NFTE CURRICULUM. THE BENEFIT TO NFTE IS THAT TEACHERS ARE PAID BY THEIR RESPECTIVE SCHOOL DISTRICTS. THE CHALLENGE FOR THE ORGANIZATION'S CONTRIBUTORS AND ASSESSORS IS RECOGNIZING THE ECONOMIC VALUE OF THOSE TEACHERS IS EXCLUDED, IN TAX REPORTING, FROM THE MEASUREMENT OF EXPENDITURES RELATED TO PROGRAM EFFORTS. THE TEACHERS ARE ESSENTIAL TO MEETING THE ORGANIZATION'S MISSION, THUS THE ECONOMIC VALUE MUST BE FACTORED INTO ANY ASSESSMENT OF THE ORGANIZATION TO HAVE A TRUE COMPARISON WITH OTHER ORGANIZATIONS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Jean-Daniel Larock Ceo/president | OfficerTrustee | 50 | $346,932 |
Jane Walsh Senior VP Advancement | 50 | $165,450 | |
Mary Radford Chief Financial Officer | Officer | 50 | $163,181 |
Jason Delgatto VP Curriculum & Research | 50 | $150,786 | |
Paul Dimayuga Director Information Tech. | 50 | $149,624 | |
Peter Johnson Development Director | 50 | $149,412 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Bdo Usa Llp Audit & Tax | 6/29/21 | $142,438 |
K Moody Associates Website Maintenance | 6/29/21 | $172,342 |
Lambert Co Consulting Services | 6/29/21 | $123,879 |
Legend Productions Inc Production Services | 6/29/21 | $105,752 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $74,223 |
Related organizations | $750,000 |
Government grants | $1,079,700 |
All other contributions, gifts, grants, and similar amounts not included above | $8,710,125 |
Noncash contributions included in lines 1a–1f | $28,269 |
Total Revenue from Contributions, Gifts, Grants & Similar | $10,614,048 |
Total Program Service Revenue | $1,364,124 |
Investment income | $30 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $105,579 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$326 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$3,258 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,214,690 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $307,528 |
Grants and other assistance to Foreign Orgs/Individuals | $52,225 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $726,496 |
Compensation of current officers, directors, key employees. | $275,149 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,944,064 |
Pension plan accruals and contributions | $86,745 |
Other employee benefits | $547,791 |
Payroll taxes | $365,148 |
Fees for services: Management | $0 |
Fees for services: Legal | $59,548 |
Fees for services: Accounting | $103,205 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $952,787 |
Advertising and promotion | $16,251 |
Office expenses | $222,126 |
Information technology | $143,792 |
Royalties | $0 |
Occupancy | $717,080 |
Travel | $7,295 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $13,174 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $17,781 |
Insurance | $157,894 |
All other expenses | $92,789 |
Total functional expenses | $10,152,033 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $333,915 |
Savings and temporary cash investments | $7,076,936 |
Pledges and grants receivable | $1,631,516 |
Accounts receivable, net | $86,955 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $26,684 |
Prepaid expenses and deferred charges | $350,481 |
Net Land, buildings, and equipment | $62,855 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $20,542 |
Total assets | $9,589,884 |
Accounts payable and accrued expenses | $901,323 |
Grants payable | $0 |
Deferred revenue | $154,132 |
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 | $1,106,145 |
Other liabilities | $314,919 |
Total liabilities | $2,476,519 |
Net assets without donor restrictions | $4,250,736 |
Net assets with donor restrictions | $2,862,629 |
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 | $9,589,884 |
Over the last fiscal year, we have identified 1 grants that Network For Teaching Entrepreneurship has recieved totaling $31,500.
Awarding Organization | Amount |
---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $31,500 |
Organization Name | Assets | Revenue |
---|---|---|
Bergens Promise Inc Hackensack, NJ | $6,748,894 | $14,251,992 |
Network For Teaching Entrepreneurship New York, NY | $9,589,884 | $12,214,690 |
Reel Stories Teen Filmmaking Inc Brooklyn, NY | $1,349,194 | $2,572,031 |
Youth Service Managers Inc Boxford, MA | $5,127,710 | $1,464,939 |
Foundation For Free Enterprise Education Erie, PA | $5,614,586 | $1,865,641 |
Glassroots Inc Newark, NJ | $2,953,448 | $1,078,025 |
Young Entrepreneurs Academy Inc Pittsford, NY | $192,804 | $326,928 |
Omicelo Cares Pittsburgh, PA | $951,389 | $343,389 |
Junior Achievement Of Western Massachusetts Springfield, MA | $260,866 | $404,989 |
Partners For Education And Business Inc Syracuse, NY | $12,469 | $270,994 |
All Things Are Possible Foundation Inc Willingboro, NJ | $482,242 | $308,793 |
Nykbi Inc New York, NY | $57,865 | $227,712 |