Youth Business Initiative
- Assets
- $204.7k
- Revenue
- $397.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Norwalk, CT
- Founding
- Data as of
- 12/2023
- EIN
- 85-0594373
Organization Overview
Youth Business Initiative is located in Norwalk, CT. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. As of 12/2023, Youth Business Initiative employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Youth Business Initiative 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, Youth Business Initiative generated $397.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 63.3% each year . All expenses for the organization totaled $253.3k during the year ending 12/2023. While expenses have increased by 65.9% per year over the past 3 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
YOUTH BUSINESS INITIATIVE ("YBI") IS COMMITTED TO EMPOWERING UNDERPRIVILEGED YOUTH WITH WORKFORCE READINESS & BUSINESS DEVELOPMENT SKILLS FOR COMMUNITY DEVELOPMENT. YBI ADVANCES ITS MISSION WITH WORKFORCE READINESS AND BUSINESS DEVELOPMENT PROGRAM INITIATIVES THAT SERVE HIGH SCHOOL STUDENTS INTERESTED IN ECONOMICS FOR YOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH ENTREPRENEURSHIP PROGRAM: THE ENTREPRENEURSHIP PROGRAM IS A WORKFORCE READINESS AND BUSINESS DEVELOPMENT INITIATIVE THAT COVERS BUSINESS DEVELOPMENT TOPICS - FINANCE & ACCOUNTING, MARKETING & BRANDING, COMMUNICATION AND ETIQUETTE, AND PUBLIC SPEAKING. THE STUDENTS RESEARCH A BUSINESS IDEA AND LEARN THE BUSINESS ELEMENTS. AS THE STUDENTS LEARN BASIC BUSINESS TERMS AND ELEMENTS, THE STUDENTS FIND THEIR STRENGTHS AND WEAKNESSES AS ENTREPRENEURS. STUDENTS ALSO RECEIVE A NOMINAL STIPEND WHILE PARTICIPATING IN THE ENTREPRENEURSHIP PROGRAM INITIATIVE.
ORGANIZATION RUNS AN AFTER-SCHOOL YOUTH ADVANCEMENT PROGRAM COMMITTED TO NURTURING CRITICAL THINKING AND CULTIVATING ENTREPRENEURIAL SKILLS IN OUR PARTICIPANTS. WITH A METICULOUSLY CRAFTED CURRICULUM, WE OFFER ENRICHING AND HOLISTIC LEARNING OPPORTUNITIES THAT EMPOWER YOUNG INDIVIDUALS TO NAVIGATE THE INTRICACIES OF BUSINESS AND ENTREPRENEURSHIP. BEYOND IMPARTING ESSENTIAL KNOWLEDGE, OUR PROGRAM FOCUSES ON FOSTERING ANALYTICAL THINKING, PROBLEM-SOLVING CAPABILITIES, AND A STRATEGIC MINDSET, ESSENTIAL FOR SUCCESS IN TODAY'S COMPETITIVE LANDSCAPE.
OUR ORGANIZATION IS DEDICATED TO PREPARING YOUTH FOR THE WORKFORCE AND HELPING THEM ACHIEVE THEIR DREAMS THROUGH OUR IMPACTFUL YOUTH WORKFORCE DEVELOPMENT TRAINING PROGRAM. WITH A FOCUS ON PRACTICAL SKILL DEVELOPMENT, CAREER READINESS, AND PERSONAL EMPOWERMENT, WE PROVIDE TAILORED TRAINING EXPERIENCES TO EQUIP YOUNG INDIVIDUALS WITH THE TOOLS THEY NEED TO SUCCEED IN TODAY'S COMPETITIVE JOB MARKET. WE WORK TOWARDS OUR MISSION OF EMPOWERING YOUTH AND FOSTERING A BRIGHTER FUTURE FOR GENERATIONS TO COME.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dajuan Wiggins CEO And Executive Director | Officer | 35 | $39,201 |
Michael Crafter Board Member | Officer | 0.5 | $0 |
Anthony Wilson Board Member | Officer | 0.5 | $0 |
Jadon Washington Board Member | Officer | 0.5 | $0 |
Darren Felder Board Member | Officer | 0.5 | $0 |
Anamilena Moreno Board Member | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,457 |
| All other contributions, gifts, grants, and similar amounts not included above | $308,051 |
| Noncash contributions included in lines 1a–1f | $35,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $397,508 |
| 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 | $397,508 |
| 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. | $66,560 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,534 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,203 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,196 |
| Advertising and promotion | $547 |
| Office expenses | $3,645 |
| Information technology | $150 |
| Royalties | $0 |
| Occupancy | $64,071 |
| Travel | $286 |
| 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 | $0 |
| All other expenses | $28,120 |
| Total functional expenses | $253,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,047 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $54,640 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $204,687 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $204,687 |
| 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 | $204,687 |