New York Professional Advisors For Community Entrepreneurs Inc
- Assets
- $1.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- New York, NY
- Founding
- 05/2005
- Data as of
- 12/2023
- EIN
- 20-1538491
Organization Overview
New York Professional Advisors For Community Entrepreneurs Inc is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, New York Professional Advisors For Community Entrepreneurs Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Professional Advisors For Community Entrepreneurs 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, New York Professional Advisors For Community Entrepreneurs Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $816.1k during the year ending 12/2023. While expenses have increased by 20.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
NYPACE STIMULATES JOB CREATION AND ECONOMIC OPPORTUNITY IN UNDERSERVED COMMUNITIES BY MOBILIZING PRO BONO PROFESSIONALS TO SUPPORT LOCAL ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL PROGRAM - OUR WORKSHOPS WERE IN HIGH DEMAND IN 2023, DOUBLING OUR ATTENDANCE GOAL WITH 102 ENTREPRENEURS AND MINORITY BUSINESS OWNER CERTIFICATION.
CORPORATE PROGRAM - WE LAUNCHED OUR NEW DAY OF SERVICE PROGRAM WITH THE INAUGURAL FIRMS PAYPAL, MICROSOFT AND ERNST & YOUNG. OUR PAYPAL SPRINT GAINED THE HIGHEST ENTREPRENEUR RATING YET WITH 100% SAYING THEIR ADVISORS' RECOMMENDATIONS WERE EXCEPTIONAL.
FLAGSHIP PROGRAM - FLAGSHIP PROGRAM (8-WEEK SMALL BUSINESS SUPPORT) - EMBARK ON YOUR EXCITING JOURNEY THROUGH OUR FLAGSHIP ENTREPRENEUR ADVISING PROGRAM, A RESULTS-DRIVEN MODEL UNLIKE ANY OTHER OFFERED BY AN ENTREPRENEUR ORGANIZATION IN NYC. IN THIS EXCITING, EMPOWERING, AND EDUCATIONAL COHORT, YOU'LL RECEIVE ENTREPRENEUR RESOURCES, BUSINESS MENTORSHIP, AND ACCOUNTABILITY OVER EIGHT WEEKS. OUR PRO BONO ADVISORS, RECRUITED FROM TOP NYC FIRMS, WILL SHEPHERD YOU THROUGH CREATING HYPER-TARGETED, HIGH-IMPACT SOLUTIONS TO REAL-LIFE ISSUES IN YOUR BUSINESS. GET THE BENEFITS OF THEIR ELITE SKILL SET, GAIN ENCOURAGEMENT FROM A PEER COHORT, AND JOIN A POSITIVELY FOCUSED PROFESSIONAL COMMUNITY. DURING THE PROGRAM, YOUR BUSINESS ADVISING TEAM WILL MEET WITH YOU FREQUENTLY VIA CALLS, EMAILS, ZOOM, AND IN PERSON. TOGETHER, YOU WILL CREATE AND TACKLE A STRUCTURED, TIME-DRIVEN PLAN FOR YOUR PROJECT SCOPE, WHICH WILL SOLVE ONE OF YOUR HIGH-PRIORITY CHALLENGES. YOU'LL ALSO HAVE THE OPPORTUNITY DURING THE PROGRAM TO BRAINSTORM YOUR CHALLENGE WITH THE OTHER COMMUNITY ENTREPRENEURS IN YOUR COHORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ibrahima Souare Executive Director | Officer | 40 | $148,700 |
Stephanie George Employee | Officer | 40 | $104,808 |
Daniel Zamlong Board Chairperson | OfficerTrustee | 8 | $0 |
Philippe Leroy Board Member | Trustee | 2 | $0 |
Aaron Feinberg Board Member | Trustee | 2 | $0 |
Adam Goodman Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $348,232 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $854,060 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,202,292 |
| Total Program Service Revenue | $4,820 |
| Investment income | $1,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$77,985 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,131,050 |
| 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. | $253,508 |
| Compensation of current officers, directors, key employees. | $1,139 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $257,835 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $96,971 |
| Payroll taxes | $45,037 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $122,869 |
| Advertising and promotion | $506 |
| Office expenses | $11,792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $600 |
| Travel | $1,535 |
| 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 | $0 |
| Insurance | $2,267 |
| All other expenses | $0 |
| Total functional expenses | $816,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,269,390 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,000 |
| 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 | $1,810 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,346,200 |
| Accounts payable and accrued expenses | $63,087 |
| 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 | $63,087 |
| Net assets without donor restrictions | $1,173,113 |
| Net assets with donor restrictions | $110,000 |
| 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 | $1,346,200 |