Entrepreneurship For All Inc
- Assets
- $9.1m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 97
- Location
- Lowell, MA
- Founding
- 02/2015
- Data as of
- 12/2023
- EIN
- 47-1858182
Organization Overview
Entrepreneurship For All Inc is located in Lowell, MA. The organization was established in 2015. 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, Entrepreneurship For All Inc employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Entrepreneurship For All 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, Entrepreneurship For All Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $9.5m during the year ending 12/2023. While expenses have increased by 30.6% per year over the past 8 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
TO ACCELERATE ECONOMIC & SOCIAL IMPACT IN COMMUNITIES NATIONWIDE THROUGH INCLUSIVE ENTREPRENEURSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A 501 (C) (3) NON-PROFIT ORGANIZATION DEDICATED TO ACCELERATING ECONOMIC AND SOCIAL IMPACT THROUGH ENTREPRENEURSHIP IN UNDER RESOURCED MID-SIZED CITIES. WE FOSTER ECONOMIC GROWTH AND JOB CREATION IN THESE UNDERSERVED COMMUNITIES BY RAISING THE VISIBILITY OF ENTREPRENEURSHIP WITHIN THEM AND TRAINING ASPIRING ENTREPRENEURS SO THEY HAVE A HIGHER LIKELIHOOD OF SUCCESS WITH THEIR VENTURES. STRONG PREFERENCE IS GIVEN TO CANDIDATES THAT EITHER RESIDE IN OR INTEND TO START BUSINESSES IN UNDERSERVED OR DISADVANTAGED COMMUNITIES. THE ORGANIZATION WILL PURSUE ITS CHARITABLE OBJECTIVES THROUGH:1.AWARENESS BUILDING AMONGST LOW INCOME, LOW EDUCATION LEVEL, OR UNEMPLOYED RESIDENTS PROVIDING ACCESS TO RESOURCES, AND NON-ENGLISH SPEAKING PROGRAMS2.TRAINING AND SUPPORT WHICH WILL INCLUDE HOSTING ACCELERATOR PROGRAMS FOR SELECTED INDIVIDUALS ASPIRING TO LAUNCH A NEW BUSINESS OR NONPROFIT3.PROVIDING ACCESS TO RESOURCES INCLUDING THE PROVISION OF CAPITAL TO ACCELERATOR PROGRAM GRADUATES AND THE USE OF OFFICE SPACE AND RELATED SERVICES4.NON-ENGLISH SPEAKING PROGRAMS IN ORDER TO ENGAGE UNDERPRIVILEGED RESIDENTS WHO DO NOT SPEAK ENGLISH AS A FIRST LANGUAGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meralis Hood Ceo/president | OfficerTrustee | 40 | $288,497 |
Gary Chamberlain Chief Technology Officer | 40 | $233,338 | |
Carletta Hill Director Of Hr | 40 | $155,618 | |
Andre Silva Director Of Program Expenses | 40 | $133,206 | |
Vanessa Gallant Director Of Creative Opera | 40 | $127,466 | |
Peter Whaley Chief Operating Officer | Officer | 40 | $102,006 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Korn Ferry Recruiting Services | 12/30/23 | $164,313 |
Sensa Recruiting Recruiting Services | 12/30/23 | $161,220 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $718,041 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,568,006 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,286,047 |
| Total Program Service Revenue | $0 |
| Investment income | $290,004 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,855 |
| 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 | $8,580,906 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $240,673 |
| Grants and other assistance to domestic individuals. | $249,173 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $784,529 |
| Compensation of current officers, directors, key employees. | $182,569 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,267,389 |
| Pension plan accruals and contributions | $488,161 |
| Other employee benefits | $0 |
| Payroll taxes | $492,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,581 |
| Fees for services: Accounting | $57,131 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $579,246 |
| Advertising and promotion | $124,952 |
| Office expenses | $122,144 |
| Information technology | $23,586 |
| Royalties | $0 |
| Occupancy | $95,467 |
| Travel | $115,128 |
| 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 | $30,286 |
| Insurance | $10,157 |
| All other expenses | $7,592 |
| Total functional expenses | $9,470,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,540,996 |
| Savings and temporary cash investments | $4,010,785 |
| Pledges and grants receivable | $1,400,830 |
| 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 | $115,892 |
| Net Land, buildings, and equipment | $42,470 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,777 |
| Total assets | $9,148,750 |
| Accounts payable and accrued expenses | $446,918 |
| Grants payable | $56,250 |
| 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 | $94,074 |
| Total liabilities | $597,242 |
| Net assets without donor restrictions | $3,297,525 |
| Net assets with donor restrictions | $5,253,983 |
| 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 | $9,148,750 |
Grants Awarded
Over the last fiscal year, Entrepreneurship For All Inc has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEW BEDFORD PERFORMING ARTS CENTER PURPOSE: SUPPORT UNDERREPRESENTED BUSINESSES. | $10,000 |
SOLSHINE YOGA PURPOSE: SUPPORT UNDERREPRESENTED BUSINESSES. | $15,000 |