Entrepreneurship Foundation Inc
- Assets
- $160.9k
- Revenue
- $376.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfield, CT
- Founding
- 04/2008
- Data as of
- 12/2022
- EIN
- 26-1377831
Organization Overview
Entrepreneurship Foundation Inc is located in Fairfield, CT. The organization was established in 2008. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Entrepreneurship Foundation 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, Entrepreneurship Foundation Inc generated $376.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $324.1k during the year ending 12/2022. While expenses have increased by 20.2% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE EFFECTIVE RESOURCES FOR EDUCATORS AND ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKFORCE DEVELOPMENT. RESPONDING TO THE REQUESTS FROM THE REGIONAL CHAMBER OF COMMERCE AND WITH AN ARPA GRANT, THE FOUNDATION EMBARKED ON A PROGRAM TO SUPPORT THE MANUFACTURING INDUSTRY IN THE STATE OF CONNECTICUT THAT HAS SUFFERED SUPPLY CHAIN INTERRUPTIONS FROM COVID AND A CHRONIC SHORTAGE OF SKILLED LABOR. AS A RESULT, WE LAUNCHED A MARKETING CAMPAIGN TO ENCOURAGE YOUNG PEOPLE TO PURSUE MANUFACTURING AS A BUSINESS (TO EXPAND THE EXISTING SUPPLY CHAIN) OR AS A CAREER TO BOLSTER HR RESOURCES FOR THE COMPANIES. EVENTS INCLUDED CAREER FAIRS AND MANUFACTURING TRADE SHOWS WITH YOUNG COMPANIES AND STARTUPS AS SUPPLIERS AND ESTABLISHED FIRMS AS BUYERS.
CT ENTREPRENEUR AWARDS. A CELEBRATION TO RECOGNIZE OUTSTANDING YOUNG ENTREPRENEURS AND ORGANIZATIONS THAT HELP THEM.
BUSINESS PLAN COMPETITIONS. FOR 18+ YEARS WE HAVE OPERATED BUSINESS PLAN COMPETITIONS FOR CONNECTICUT STUDENTS AND RESIDENTS TO ENCOURAGE ENTREPRENEURSHIP. IN 2022 WE SERVED 70 INDIVIDUALS, 14 INSTITUTIONS OF HIGHER LEARNING, AND 3 HIGH SCHOOLS. COMPETITION CATEGORIES INCLUDED COMMUNITY COLLEGE STUDENTS, UNIVERSITY STUDENTS, DIGITAL SIMULATIONS AND FASHION.
ENTREPRENEUR SALES OUTLET. THE ENTREPRENEURSHIP FOUNDATION SUPPORTS A SALES OUTLET FOR ENTREPRENEURS TO SHOWCASE AND SELL THEIR PRODUCTS. THIS OUTLET IS A BRICK AND MORTAR LOCATION IN DOWNTOWN BRIDGEPORT. THE FOUNDATION ALSO PROVIDES AND MAINTAINS AN ONLINE STORE FOR THE SAME PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Roer President | OfficerTrustee | 20 | $35,000 |
Cliff Ennico Corporate Secretary | OfficerTrustee | 1 | $0 |
Evan Kipperman Member Of Board Of Directors | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $345,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,242 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $376,242 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| 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 | $376,243 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $82,063 |
| Grants and other assistance to domestic individuals. | $41,125 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $35,000 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $11,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,714 |
| Advertising and promotion | $104,420 |
| Office expenses | $3,723 |
| Information technology | $5,807 |
| Royalties | $0 |
| Occupancy | $6,864 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $132 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $734 |
| All other expenses | $1,712 |
| Total functional expenses | $324,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,032 |
| Savings and temporary cash investments | $55,456 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,431 |
| Total assets | $160,919 |
| Accounts payable and accrued expenses | $880 |
| 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 | $20,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,880 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $140,039 |
| Total liabilities and net assets/fund balances | $160,919 |
Grants Awarded
Over the last fiscal year, Entrepreneurship Foundation Inc has awarded $82,800 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSATONIC COMMUNITY COLLEGE FOUNDATION PURPOSE: To support the Manufacturing Training Center | $12,800 |
BRIDGEPORT REGIONAL BUSINESS COUNCIL PURPOSE: Staffing to connect job seekers with apprenticeships. | $60,000 |
UNIVERSITY OF BRIDGEPORTINNOVATION CENTER PURPOSE: To underwrite R&D for promising new discoveries. | $10,000 |