Social Enterprises Trust Inc
- Assets
- $415.3k
- Revenue
- $620.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Hartford, CT
- Founding
- 11/2004
- Data as of
- 12/2022
- EIN
- 20-1452405
Organization Overview
Social Enterprises Trust Inc is located in Hartford, CT. The organization was established in 2004. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Social Enterprises Trust Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Social Enterprises Trust 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 12/2022, Social Enterprises Trust Inc generated $620.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $590.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE SOCIAL ENTERPRISE SECTOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S FOOD INCUBATOR PROGRAM OFFERS A 12-WEEK PROGRAM DESIGNED FOR CULINARY ENTERPRENEURS PREPARED TO LAUNCH THEIR BUSINESS. THE COURSE INCLUDES WEEKLY SEMINARS, PEER LEARNING, MENTORSHIP AND GUEST SPEAKERS, AS WELL AS ACCESS TO COWORKING SPACE AND COACHING. THE 2022 FOOD INCUBATOR SUPPORTED 15 BUSINESSES, AND CULMINATED IN AN IN-PERSON PITCH AND TASTING EVENT WITH OVER 150 ATTENDEES.
OTHER PROGRAMS
THE ORGANIZATION RUNS A 4 MONTH PROGRAM CALLED IMPACT ACCELERATOR THAT PROVIDES ENTREPRENEURS WITH AN EXPERT-LED, PEER LEARNING GROUP AND INCLUDES CLASSROOM TIME, ACCESS TO COWORKING SPACE, AND A VARIETY OF OTHER RESOURCES TO HELP BUILD THEIR BUSINESSES. IN 2022, 12 BUSINESSES PARTICIPATED IN THE PROGRAM, WHICH CULMINATED IN A LIVE VENTURE SHOWCASE WHERE THE TOP COMPANIES PITCHED TO AN AUDIENCE OF OVER 150 GUESTS.
THE ORGANIZATION PROVIDES A VARIETY OF RESOURCES TO EDUCATE THE COMMUNITY ABOUT SOCIAL ENTERPRISES AS A VIABLE BUSINESS CONCEPT, INCLUDING THE BEYOND BUSINESS AS USUAL CONFERENCE AND A VARIETY OF OTHER SPEAKING AND EDUCATION PROGRAMS. EXPERTISE IS FREQUENTLY PROVIDED BY VOLUNTEERS PROVIDING IN-KIND SUPPORT AS GUEST SPEAKERS, MENTORS, AND JUDGES. IN 2022, THE ORGANIZATION HOSTED 19 EVENTS EITHER ONLINE OR IN PERSON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Bodley Executive Di | Officer | 40 | $81,204 |
Nate Dudek Chair | OfficerTrustee | 1 | $0 |
Tara Spain Secretary | OfficerTrustee | 1 | $0 |
Vijay Laknidhi Treasurer | OfficerTrustee | 1 | $0 |
Mike Brooder Director | Trustee | 1 | $0 |
Laura Diana Haber Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $171,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $399,189 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $570,889 |
| Total Program Service Revenue | $49,487 |
| Investment income | $17 |
| 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 | $620,393 |
| 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. | $81,204 |
| Compensation of current officers, directors, key employees. | $11,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,159 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,542 |
| Payroll taxes | $17,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,550 |
| Fees for services: Accounting | $28,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $161,089 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $13,344 |
| Royalties | $0 |
| Occupancy | $57,669 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,361 |
| Insurance | $4,443 |
| All other expenses | $0 |
| Total functional expenses | $590,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $149,200 |
| 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 | $701 |
| Net Land, buildings, and equipment | $3,789 |
| Investments—publicly traded securities | $5,100 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $122,082 |
| Total assets | $415,279 |
| Accounts payable and accrued expenses | $138,666 |
| Grants payable | $0 |
| Deferred revenue | $773 |
| 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 | $122,082 |
| Total liabilities | $261,521 |
| Net assets without donor restrictions | $94,151 |
| Net assets with donor restrictions | $59,607 |
| 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 | $415,279 |
Grants Awarded
Over the last fiscal year, Social Enterprises Trust Inc has awarded $30,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PELLETRIC PURPOSE: For Business Assistance | $6,000 |
PHOOD LLC PURPOSE: For Business Assistance | $14,000 |
CAREER PATH MOBILE LLC PURPOSE: For Business Assistance | $10,000 |