Center For Venture Education Inc
- Assets
- $106.8m
- Revenue
- $4.5m
- Investments
- $93.2m
- Employees
- 15
- Location
- Austin, TX
- Founding
- 02/2002
- Data as of
- 06/2021
- EIN
- 48-1249429
Organization Overview
Center For Venture Education Inc is located in Austin, TX. The organization was established in 2002. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2021, Center For Venture Education Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Venture Education 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 06/2021, Center For Venture Education Inc generated $4.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS STRIVING TO CREATE GREATER EQUITY & DIVERSITY IN THE VENTURE CAPITAL ECO-SYSTEM THROUGH OUR EDUCATION PROGRAMS AND NETWORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KAUFFMAN FELLOWS PROGRAM - 57 NEW KAUFFMAN FELLOWS HAVE BEEN SELECTED FROM AN APPLICANT POOL OF 178. THE NEW CLASS IS FAIRLY EVENLY DIVIDED BETWEEN LIFESCIENCES, FINANCIAL SERVICES, INFORMATION TECHNOLOGY AND GENERAL SERVICES. APPROXIMATELY 46% OF THE CLASS ARE INTERNATIONAL INCLUDING THOSE FROM THE MIDDLE EAST, LATIN AMERICA, ASIA AND EUROPE. DUE TO COVID, THE PROGRAM WAS EXTENDED BEYOND 2 YEARS AND 64 FELLOWS WILL GRADUATE IN MARCH 2022, AN ADDITIONAL 64 WILL GRADUATE IN JUNE 2022 AND 61 ARE PARTWAY THROUGH THE PROGRAM AND WILL GRADUATE IN NOVEMBER 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Harbach CEO | Officer | 32 | $424,500 |
Lisa Doherty VP Of Finance | Officer | 28 | $153,621 |
Susan Mason Board Chair | OfficerTrustee | 4 | $0 |
Karen Kerr Secretary | OfficerTrustee | 1 | $0 |
Melissa Richlen Director | Trustee | 2 | $0 |
Allen Taylor Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bill Tobin Program And Module Consulting | 6/29/18 | $180,000 |
Wellington Event Management And Expenses | 6/29/18 | $461,937 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $392,663 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $392,663 |
| Total Program Service Revenue | $4,032,381 |
| Investment income | $58,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,625 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,487,131 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $339,303 |
| Grants and other assistance to Foreign Orgs/Individuals | $251,061 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $688,874 |
| Compensation of current officers, directors, key employees. | $285,747 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,063,728 |
| Pension plan accruals and contributions | $44,261 |
| Other employee benefits | $96,441 |
| Payroll taxes | $93,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,648 |
| Fees for services: Accounting | $41,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,819 |
| Fees for services: Other | $248,984 |
| Advertising and promotion | $44,731 |
| Office expenses | $57,232 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,139 |
| Travel | $1,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $117,979 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,733 |
| Insurance | $4,057 |
| All other expenses | $0 |
| Total functional expenses | $3,140,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,841,964 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $258,382 |
| 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 | $209,808 |
| Net Land, buildings, and equipment | $47,115 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $93,243,152 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $220,255 |
| Total assets | $106,820,676 |
| Accounts payable and accrued expenses | $508,744 |
| Grants payable | $0 |
| Deferred revenue | $7,191,720 |
| 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 | $7,700,464 |
| Net assets without donor restrictions | $98,686,184 |
| Net assets with donor restrictions | $434,028 |
| 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 | $106,820,676 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Center For Venture Education Inc has recieved totaling $350,000.
| Awarding Organization | Amount |
|---|---|
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR EDUCATION OF PROSPECTIVE INVESTORS IN AND OUTSIDE THE REGION ABOUT HOW TO DO VENTURE AND PRIVATE EQUITY INVESTING; MAP THE EXISTING LOCAL AND REGIONAL ECOSYSTEM OF INVESTORS. 202108-11154 | $300,000 |
Tsao Family Foundation Corona Del Mar, CA PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $50,000 |
Endowment Analysis
| Earnings | $463,288 |
| Net Contributions | $6,600,000 |
| Ending Balance | $7,063,288 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Criswell College Dallas, TX | $48,370,190 | $10,030,581 |
Northeastern State University Foundation Inc Tahlequah, OK | $45,168,633 | $4,906,328 |
Unam-Usa San Antonio, TX | $1,629,192 | $3,843,088 |
Center For Venture Education Inc Austin, TX | $106,820,676 | $4,487,131 |
Commonwealth Institute Of Funeral Service Houston, TX | $8,054,395 | $3,674,462 |
Lion Athletic Association Hammond, LA | $2,289,919 | $1,876,980 |
Delta Campus Facilities Corporation Monroe, LA | $25,919,156 | $3,154,481 |
International A L E R T Academy Big Sandy, TX | $844,337 | $1,167,358 |
Victoria College Foundation Inc Victoria, TX | $20,046,408 | $4,182,138 |
Louisiana Baptist University Shreveport, LA | $3,274,733 | $698,291 |
Education Alternatives Inc Fort Worth, TX | $649,007 | $757,814 |
Pawnee Nation College Pawnee, OK | $252,304 | $705,215 |