Foundation For Private Enterprise Education
- Assets
- $535.5k
- Revenue
- $341.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Renton, WA
- Founding
- 03/1979
- Data as of
- 12/2022
- EIN
- 91-1048245
Organization Overview
Foundation For Private Enterprise Education, operating under the name Washington Business Week, is located in Renton, WA. The organization was established in 1979. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Washington Business Week employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Business Week 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, Washington Business Week generated $341.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.4%) each year. All expenses for the organization totaled $377.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (14.0%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WASHINGTON BUSINESS WEEK HELPS PEOPLE REALIZE THEIR POTENTIAL BY CREATING AN EXPERIENCE IN WHICH STUDENTS, BUSINESS LEADERS AND EDUCATORS PARTNER TO TEACH AND INSPIRE ONE ANOTHER TO BE RESPONSIBLE EMPLOYEES, EMPLOYERS AND CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WASHINGTON BUSINESS WEEK TEACHES THE VALUE OF BUSINESS, THE IMPORTANCE OF ETHICS AND THE SPIRIT OF INNOVATION. THESE PRINCIPLES HAVE KEPT OUR ORGANIZATION STRONG SINCE 1976, AND ARE NEEDED NOW MORE THAN EVER. BUSINESS VOLUNTEERS PARTICIPATE IN TWO TYPES OF EVENTS: WEEK LONG WORKSHOPS AT COLLEGE CAMPUSES AND AT HIGH SCHOOL CAMPUSES. DUE TO COVID, PROGRAMS MOVED TO VIRTUAL CLASSROOMS. VOLUNTEERS MENTOR HIGH SCHOOL STUDENTS AND THEY COMPETE FOR 'PROFIT', FUN, AND GAIN CRITICAL SKILLS ESSENTIAL FOR TODAY'S GLOBAL ECONOMY. OUR PROGRAMS CONTINUE TO INSPIRE GENERATIONS TO WORK TOGETHER TO CREATE A BETTER FUTURE FOR OUR YOUTH AND THE COMMUNITIES IN WHICH WE LIVE, WORK, AND DO BUSINESS. THIS YEAR, WE PROVIDED OUR SERVICES VIRTUALLY AND SERVED 211 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian Farrell President | OfficerTrustee | 3 | $0 |
Fred Foose Treasurer | OfficerTrustee | 2 | $0 |
Denise Mitchell Secretary | OfficerTrustee | 1 | $0 |
Prithvi Addepalli Board Member | Trustee | 1 | $0 |
Brittanya Bryant Board Member | Trustee | 1 | $0 |
Raegan Berry Board Member | Trustee | 1 | $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 | $268,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $268,332 |
| Total Program Service Revenue | $73,263 |
| Investment income | $189 |
| 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 | $341,784 |
| 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. | $120,183 |
| Compensation of current officers, directors, key employees. | $13,172 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,780 |
| Pension plan accruals and contributions | $9,989 |
| Other employee benefits | $0 |
| Payroll taxes | $18,584 |
| Fees for services: Management | $5,390 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,698 |
| Office expenses | $13,232 |
| Information technology | $8,922 |
| Royalties | $0 |
| Occupancy | $4,996 |
| Travel | $19,338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $575 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,184 |
| Insurance | $4,663 |
| All other expenses | $0 |
| Total functional expenses | $377,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $374,198 |
| Savings and temporary cash investments | $151,059 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,500 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,695 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $535,452 |
| Accounts payable and accrued expenses | $31,706 |
| 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 | $31,706 |
| Net assets without donor restrictions | $503,746 |
| 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 | $535,452 |