Social Enterprises Trust Inc
- Assets
- $114.5k
- Revenue
- $357.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Hartford, CT
- Founding
- 11/2004
- Data as of
- 12/2020
- 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 12/2020, Social Enterprises Trust Inc employed 3 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 12/2020, Social Enterprises Trust Inc generated $357.2k 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 (12.0%) each year. All expenses for the organization totaled $399.9k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (8.9%) 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
2020
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
IMPACT ACCELERATOR PROGRAM: THE ORGANIZATION RUNS A FOUR MONTH PROGRAM THAT PROVIDES ENTREPRENEURS WITH AN EXPERT-LED, PEER LEARNING GROUP THAT INCLUDES CLASSROOM TIME, ACCESS TO COWORKING SPACE, AND A VARIETY OF OTHER RESOURCES TO HELP BUILD THEIR BUSINESS. IN 2020, 17 BUSINESSES PARTICIPATED IN THE PROGRAM, WHICH CULMINATED IN A VIRTUAL VENTURE SHOWCASE WHERE THE TOP 5 COMPANIES PITCHED TO AN AUDIENCE OF OVER 120 ONLINE GUESTS. $29,650 IN CAPITAL WAS DISTRIBUTED TO STARTUPS VIA THE IMPACT AWARDS.
FOOD INCUBATOR: THE ORGANIZATION OFFERS A 12-WEEK PROGRAM DESIGNED FOR CULINARY ENTREPRENEURS 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 2020 FOOD INCUBATOR SUPPORTED 18 BUSINESSES, AND CULMINATED IN AN ONLINE PITCH EVENT.
CONFERENCES AND COMMUNITY OUTREACH: THE ORGANIZATION PROVIDES A VARIETY OF RESOURCES TO EDUCATE THE COMMUNITY ABOUT SOCIAL ENTERPRISE AS A VIABLE BUSINESS CONCEPT, INCLUDING THE BEYOND BUSINESS AS USUAL CONFERENCE AND A VARIETY OF OTHER SPEAKING AND EDUCATION PROGRAMS. IN 2020 THEY INTRODUCED THE RESET FORUM IN RESPONSE TO COVID, AS A SPACE FOR THE COMMUNITY TO COME TOGETHER AND CRAFT A VISION FOR THE FUTURE. EXPERTISE IS FREQUENTLY PROVIDED BY VOLUNTEERS PROVIDING IN-KIND SUPPORT AS GUEST SPEAKERS, MENTORS, AND JUDGES. IN 2020, THE ORGANIZATION HOSTED 28 EVENTS INCLUDING BOTH IN PERSON (PRE-COVID) AND ONLINE GATHERINGS.
OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Bodley Executive Director | OfficerTrustee | 40 | $78,359 |
David Fearon Secretary | OfficerTrustee | 3 | $0 |
Kate Emery President | OfficerTrustee | 12 | $0 |
Jim Carter Treasurer | OfficerTrustee | 3 | $0 |
Tara Spain Director | Trustee | 3 | $0 |
Mike Brooder Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $157,764 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,571 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $315,335 |
| Total Program Service Revenue | $38,783 |
| Investment income | $68 |
| 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 | $357,186 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $162,521 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,186 |
| Payroll taxes | $14,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $36,633 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,643 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,487 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $399,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,911 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $2,025 |
| Net Land, buildings, and equipment | $547 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,483 |
| Accounts payable and accrued expenses | $55,944 |
| Grants payable | $0 |
| Deferred revenue | $5,665 |
| 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 | $61,609 |
| Net assets without donor restrictions | -$39,875 |
| Net assets with donor restrictions | $92,749 |
| 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 | $114,483 |
Grants Awarded
Over the last fiscal year, Social Enterprises Trust Inc has awarded $30,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PHOOD LLC PURPOSE: For Business Assistance | $14,000 |
CAREER PATH MOBILE LLC PURPOSE: For Business Assistance | $10,000 |
PELLETRIC PURPOSE: For Business Assistance | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Social Enterprises Trust Inc has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Farmington Bank Community Foundation Inc Hartford, CT PURPOSE: HARTFORD CULINARY COLLABORATIVE | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Middlesex Opportunity Council Inc Framingham, MA | $58,219,671 | $100,623,342 |
Bronxworks Inc Bronx, NY | $54,602,777 | $94,783,683 |
Sheltering Arms Children And Family Services Inc New York, NY | $61,235,788 | $88,686,017 |
North Shore Community Services Inc Westbury, NY | $256,637,537 | $86,285,675 |
Catholic Charities Of The Diocese Of Rochester Rochester, NY | $80,143,075 | $94,807,036 |
Community Assistance Resources & Extended Services Inc New York, NY | $66,076,171 | $123,796,849 |
Jewish Child Care Association Of New York Brooklyn, NY | $129,020,546 | $88,573,003 |
Urban Resource Institute New York, NY | $63,202,447 | $74,244,658 |
Mount Sinai Health System Executive V P For Finance New York, NY | $0 | $70,946,441 |
Birch Family Services Inc New York, NY | $68,113,610 | $78,917,553 |
Catholic Charities Of The Roman Catholic Diocese Of Syracuse Ny Syracuse, NY | $64,792,131 | $74,096,320 |
Mary Haven Center Of Hope Port Jefferson, NY | $26,765,963 | $57,662,471 |