Emerging Enterprise Center Inc is located in Wilmington, DE. The organization was established in 2013. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emerging Enterprise Center 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 12/2021, Emerging Enterprise Center Inc generated $487.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $449.4k during the year ending 12/2021. 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 ENCHANCE THE CHANCES FOR SUCCESS OF PERSONS STARTING NEW BUSINESSES, BY FACILITATING THE EDUCATION AND BUSINESS SKILL DEVELOPMENT, THROUGH A COMPREHENSIVE PROGRAM OF SUPPORT, ADVICE AND ACCESS, SO THAT THEY CAN GRADUATE WITH A SUSTAINABLE BUSINESS MODEL WHICH WILL ENABLE THEM TO SUBSTANTIALLY CONTRIBUTE TO THE SOCIAL MISSION OF IMPROVING THE OVERALL ECONOMIC HEALTH OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCHANCE THE CHANCES FOR SUCCESS OF PERSONS STARTING NEW BUSINESSES, BY FACILITATING THE EDUCATION AND BUSINESS SKILL DEVELOPMENT, THROUGH A COMPREHENSIVE PROGRAM OF SUPPORT, ADVICE AND ACCESS, SO THAT THEY CAN GRADUATE WITH A SUSTAINABLE BUSINESS MODEL WHICH WILL ENABLE THEM TO SUBSTANTIALLY CONTRIBUTE TO THE SOCIAL MISSION OF IMPROVING THE OVERALL ECONOMIC HEALTH OF THE REGION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bob Chadwick President | OfficerTrustee | 3 | $0 |
Matthew Parks Director | Trustee | 0.5 | $0 |
Tim Boulden Director | Trustee | 0.5 | $0 |
Mark Olazagasti Director | Trustee | 0.5 | $0 |
Neil Killian Director | Trustee | 0.5 | $0 |
Christine Schiltz Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $268,125 |
All other contributions, gifts, grants, and similar amounts not included above | $10,608 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $278,733 |
Total Program Service Revenue | $2,871 |
Investment income | $450 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $205,448 |
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 | $487,502 |
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 | $83,136 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $8,300 |
Payroll taxes | $6,390 |
Fees for services: Management | $50,000 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $6,120 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $41,687 |
Advertising and promotion | $1,132 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $231,594 |
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 | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $449,381 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $483,015 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $14,025 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $64,076 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $20,905 |
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 | $582,021 |
Accounts payable and accrued expenses | $227,895 |
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 | $227,895 |
Net assets without donor restrictions | $235,618 |
Net assets with donor restrictions | $118,508 |
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 | $582,021 |
Organization Name | Assets | Revenue |
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National Association Of Educational Procurement Inc Columbia, MD | $1,316,674 | $1,317,675 |
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Emerging Enterprise Center Inc Wilmington, DE | $582,021 | $487,502 |
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