Competency-Based Education Network Inc
- Assets
- $1.3m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Franklin, TN
- Founding
- 09/2017
- Data as of
- 06/2022
- EIN
- 82-1307652
Organization Overview
Competency-Based Education Network Inc is located in Franklin, TN. The organization was established in 2017. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 06/2022, Competency-Based Education Network Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Competency-Based Education Network 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 06/2022, Competency-Based Education Network Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 39.3% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 30.6% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO ADVANCE EDUCATION BY HELPING COLLEGES AND UNIVERSITIES DESIGN, DEVELOP, AND DELIVER HIGH QUALITY COMPETENCY-BASED DEGREE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER THE PAST YEAR, C-BEN HAS DIVERSIFIED ITS SERVICES TO INCLUDE MORE CONSULTANCY AND TECHNICAL ASSISTANCE. THIS GROWTH HAS HELPED TO STABILIZE THE ORGANIZATION AND CREATE A SUSTAINABLE BUSINESS MODEL FOR THE NON- PROFIT'S LONG-TERM VIABILITY. OUR FOCUS ON GROWING MEMBERSHIP HAS BEEN RENEWED, AFTER EXPERIENCING CHALLENGES FROM COVID-19. OUR MEMBERS REPRESENT LARGE STATE SYSTEMS, LIKE THE UNIVERSITY OF WISCONSIN, TO LARGE NOT-FOR- PROFIT ENTITIES LIKE WESTERN GOVERNORS UNIVERSITY AND SOUTHERN NEW HAMPSHIRE UNIVERSITY. ALL MEMBER INSTITUTIONS SHARE A COMMON COMMITMENT TO (1) BUILD AND PROMOTE HIGH-QUALITY STANDARDS AND PRACTICES; (2) MEASURE AND SHARE EFFICACY OUTCOMES; (3) PARTICIPATE IN A SHARED RESEARCH AGENDA; (4) DEVELOP AND FOSTER CONTINUED INNOVATION; AND (5) EDUCATE POLICYMAKERS ABOUT LEGISLATIVE AND REGULATORY ISSUES RELATED TO THE GROWTH, SCALE, AND PROTECTION OF THE CBE MOVEMENT. C-BEN HOSTED ITS 8TH ANNUAL CBEXCHANGE CONFERENCE AND A RANGE OF OTHER CLIENT RELATED EVENTS. C-BEN IS REACHING THOUSANDS OF LEADERS FROM HUNDREDS OF INSTITUTIONS EACH YEAR AT GATHERINGS WHERE THEY LEARN HOW TO BUILD AND BRING TO SCALE HIGH-QUALITY PROGRAMS. C-BEN'S COLLABORATORY WORKED EXTENSIVELY ON PROVIDING NEW RESOURCES TO HELP INSTITUTIONS BUILD RELATIONSHIPS WITH EMPLOYERS SO ACADEMIC PROGRAMS COULD MEET WORKFORCE NEEDS. THE NETWORK'S QUALITY FRAMEWORK FOR CBE PROGRAMS CONTINUES TO BE EMBRACED AS THE LEADING TOOL FOR ASSESSING QUALITY OF ACADEMIC PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Heiser Chair/direct | OfficerTrustee | 5 | $0 |
Ray Rice Treasurer/di | OfficerTrustee | 5 | $0 |
Jillian Klein Secretary | OfficerTrustee | 5 | $0 |
Brooks Doherty Vice Chair/d | Trustee | 5 | $0 |
Amardeep Kahlon Director | Trustee | 2 | $0 |
Christina Amato Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kb Educational Solutions Instruct Design | 6/29/22 | $120,000 |
Whiteboard Advisors Llc Commun/pub Rel | 6/29/22 | $111,820 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $196,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,038 |
| All other contributions, gifts, grants, and similar amounts not included above | $274,524 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $515,562 |
| Total Program Service Revenue | $2,398,751 |
| Investment income | $9,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $67 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,924,304 |
| 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 | $587,455 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $54,005 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,328 |
| Fees for services: Accounting | $52,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $992,835 |
| Advertising and promotion | $40,479 |
| Office expenses | $21,752 |
| Information technology | $82,580 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $114,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $689,608 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,059 |
| All other expenses | $4,724 |
| Total functional expenses | $2,778,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $554,084 |
| Savings and temporary cash investments | $43,406 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $151,599 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $286 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $507,437 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,000 |
| Total assets | $1,286,812 |
| Accounts payable and accrued expenses | $192,417 |
| Grants payable | $0 |
| Deferred revenue | $432,640 |
| 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 | $625,057 |
| Net assets without donor restrictions | $661,755 |
| Net assets with donor restrictions | $0 |
| 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 | $1,286,812 |