Council For Entrepreneurial Development
- Assets
- $4.2m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Research Triangle Park, NC
- Founding
- 12/1988
- Data as of
- 06/2023
- EIN
- 56-1399587
Organization Overview
Council For Entrepreneurial Development is located in Research Triangle Park, NC. The organization was established in 1988. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Council For Entrepreneurial Development employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Council For Entrepreneurial Development 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 06/2023, Council For Entrepreneurial Development generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $1.3m during the year ending 06/2023. 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 CONNECT ENTREPRENEURIAL COMPANIES WITH HIGH VALUE RESOURCES TO ACCELERATE BUSINESS GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CED OPERATES ITS NON-PROFIT PROGRAMS ACCORDING TO A STRATEGIC VISION ADOPTED BY THE BOARD OF DIRECTORS.PROGRAMS LIKE GRO INCUBATOR PROVIDE EDUCATION FOR EARLY STAGE COMPANIES AND FOUNDERS. THE CURRICULUM IS SUPPORTED BY SUCCESSFUL FOUNDERS WHO PROVIDE EXPERTISE AND ADVICE FOR SCALE.VENTURE CONNECT IS ANOTHER PROGRAM THAT ENABLES STARTUP COMPANIES TO CONNECT TO THE RESOURCES THEY NEED TO GROW. THIS IS THE CULMINATION OF YEAR-ROUND PROGRESS ACHIEVED THROUGH SUPPORT/GUIDANCE OFFERED BY CED TEAM DIRECTLY TO STARTUPS.THE ANNUAL CONFERENCE (VENTURE CONNECT) RETURNED TO IN-PERSON FORMAT IN 2022. THE EVENT HOSTS OVER 800 PP AND PROVIDES EDUCATION, CONNECTIONS AND NETWORKING OPPORTUNITIES.CED ENGAGES OVER 400 PARTNERS IN THE BUSINESS COMMUNITY INCLUDING STARTUPS, CORPORATE, INVESTORS, AND OTHER INDIVIDUALS. CED LAUNCHED A SUPPORT ORGANIZATION NETWORK INTENDED TO BRING TOGETHER ENTITIES SUPPORTING ENTREPRENEURS TO FOSTER COLLABORATION ACROSS THE ECOSYSTEM.CED CONTINUES TO MAINTAIN PARTNERSHIPS WITH EDUCATIONAL INSTITUTIONS HELPING TO SUPPORT BUSINESS DEVELOPMENT AND ECONOMIC GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Spruill Chair/executive Committee | OfficerTrustee | 1 | $0 |
Tom Allen Secretary/executive Commit | OfficerTrustee | 1 | $0 |
Garret Tripp Treasurer / Executive Comm | OfficerTrustee | 1 | $0 |
Paul Boucher Executive Committee | Trustee | 0.05 | $0 |
Michelle Egger Executive Committee | Trustee | 0.05 | $0 |
Allison London Brown Executive Committee | Trustee | 0.05 | $0 |
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 | $4,186,353 |
| Noncash contributions included in lines 1a–1f | $374 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,186,353 |
| Total Program Service Revenue | $695,331 |
| Investment income | $483 |
| 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 | $4,882,167 |
| 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. | $155,909 |
| Compensation of current officers, directors, key employees. | $33,391 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $489,021 |
| Pension plan accruals and contributions | $14,064 |
| Other employee benefits | $39,787 |
| Payroll taxes | $46,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $286,783 |
| Advertising and promotion | $26,900 |
| Office expenses | $97,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,861 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,688 |
| Total functional expenses | $1,256,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $974,471 |
| Savings and temporary cash investments | $255,454 |
| Pledges and grants receivable | $2,906,400 |
| Accounts receivable, net | $38,500 |
| 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 | $7,135 |
| Net Land, buildings, and equipment | $13,377 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,388 |
| Total assets | $4,234,725 |
| Accounts payable and accrued expenses | $37,900 |
| Grants payable | $0 |
| Deferred revenue | $170,367 |
| 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 | $154,690 |
| Other liabilities | $46,061 |
| Total liabilities | $409,018 |
| Net assets without donor restrictions | $905,882 |
| Net assets with donor restrictions | $2,919,825 |
| 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 | $4,234,725 |