Entrepreneurship Award Corp
- Assets
- $594.4k
- Revenue
- $176.1k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 06/2017
- Data as of
- 12/2022
- EIN
- 81-1043590
Organization Overview
Entrepreneurship Award Corp, operating under the name Founder Forward, is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2022, Founder Forward employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Founder Forward 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, Founder Forward generated $176.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.7%) each year. All expenses for the organization totaled $389.4k during the year ending 12/2022. 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
ENVOLVE USA WORKS WITH UNDERREPRESENTED FOUNDERS TO BUILD A COMMUNITY AND PLATFORM THAT ADVANCES EQUITY AND ACCESS IN THE ENTREPRENEURSHIP ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, USING LESSONS LEARNED FROM PREVIOUS PROGRAMS, ENVOLVE LAUNCHED ITS NEW FLAGSHIP PROGRAM, FOUNDER FORWARD. FOUNDER FORWARD IS A TECH ENABLED COMMUNITY PLATFORM DEDICATED TO CULTIVATING THE NEXT GENERATION OF DIVERSE, SOCIAL IMPACT MINDED FOUNDERS BY CREATING WEALTH AND QUITY THROUGH SUPPORT SERVICES THAT HELP CLOSE THE EARLY STAGE CAPITAL AND ADVISING GAP. FOUNDERS RECEIVE UNRESTRICTED CAPITAL GRANTS, ARE MATCHED WITH SKILLED PROFESSIONAL ADVISORS, AND BUIOLD A LONG TERM GROWTH SUPPORT NETWORK. IN 2022, ENVOLVE DIRECTLY SUPPORTED 39 DIVERSE EARLY STAGE BUSINESSES WITH $139,000 IN CAPITAL GRANTS AND 218 ADVISING SESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angeline Apostolou Acting Executive Director | Officer | 45 | $74,797 |
James Banks Program Manager | Officer | 45 | $54,822 |
Christopher Upperman President, Director | OfficerTrustee | 1 | $0 |
Tulani Watkins Secretary, Director | OfficerTrustee | 1 | $0 |
Brian Taylor Member, Director | Trustee | 1 | $0 |
Uriridiakoghene Onovakpuri Member, Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,208 |
| All other contributions, gifts, grants, and similar amounts not included above | $168,874 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,082 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $176,082 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $184,836 |
| 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. | $136,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,848 |
| Payroll taxes | $10,733 |
| Fees for services: Management | $969 |
| Fees for services: Legal | $8,347 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,000 |
| Advertising and promotion | $138 |
| Office expenses | $519 |
| Information technology | $3,097 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,295 |
| 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 | $778 |
| All other expenses | $0 |
| Total functional expenses | $389,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,544 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $330,210 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,073 |
| 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 | $594,403 |
| Accounts payable and accrued expenses | -$6,899 |
| 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 | $514,942 |
| Other liabilities | $6,687 |
| Total liabilities | $514,730 |
| Net assets without donor restrictions | $292,982 |
| Net assets with donor restrictions | -$213,309 |
| 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 | $594,403 |