2023-08-16T20:28:57-07:00 2022-12-31 990 2022-01-01 261377831 ENTREPRENEURSHIP FOUNDATION INC ENTR 2035405903 425 Katona Drive Fairfield CT 06824 Michael Roer President 2035405903 2023-08-20 1 1 11 1 AAL2 2022 2023-04-26 12:10:37Z Michael Roer 425 Katona Drive Fairfield CT 06824 376243 0 X www.EntrepreneurshipFoundation.org X 2007 CT Our mission is to provide effective resources for Educators and Entrepreneurs. 3 2 0 100 0 0 276612 376242 0 0 7 1 0 0 276619 376243 156655 123188 0 0 30000 35000 0 0 0 80808 165920 267463 324108 9156 52135 192746 160919 104842 20880 87904 140039 X Our mission is to provide effective resources and support for Educators and Entrepreneurs. 1 0 210932 72800 250468 WORKFORCE DEVELOPMENT. Responding to the requests from the regional Chamber of Commerce and with an ARPA grant, the Foundation embarked on a program to support the manufacturing industry in the state of Connecticut that has suffered supply chain interruptions from COVID and a chronic shortage of skilled labor. As a result, we launched a marketing campaign to encourage young people to pursue manufacturing as a business (to expand the existing supply chain) or as a career to bolster HR resources for the companies. Events included career fairs and manufacturing trade shows with young companies and startups as suppliers and established firms as buyers. 46155 40388 90000 BUSINESS PLAN COMPETITIONS. For 18+ years we have operated business plan competitions for Connecticut students and residents to encourage entrepreneurship. In 2022 we served 70 individuals, 14 institutions of higher learning, and 3 high schools. Competition categories included Community College students, University students, Digital Simulations and Fashion. 21698 10000 5000 ENTREPRENEUR SALES OUTLET. The Entrepreneurship Foundation supports a sales outlet for entrepreneurs to showcase and sell their products. This outlet is a brick and mortar location in downtown Bridgeport. The Foundation also provides and maintains an online store for the same purpose. 10132 0 5278 CT ENTREPRENEUR AWARDS. A celebration to recognize outstanding young entrepreneurs and organizations that help them. 10132 0 5278 288917 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 29 0 1 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Michael Roer 2035405903 425 Katona Drive Fairfield CT 06824 Michael Roer President 20 0 X X 35000 0 0 Cliff Ennico Corporate Secretary 1 0 X X 0 0 0 Evan Kipperman Member of Board of Directors 0 0 X 0 0 0 35000 0 0 0 0 0 0 0 0 0 0 0 345000 31242 0 376242 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 376243 1 0 0 82063 82063 41125 41125 0 0 0 0 35000 20000 15000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11000 0 11000 0 0 0 0 0 3053 0 3053 0 0 0 0 0 0 0 0 0 0 0 7714 7714 0 0 104420 104420 0 0 3723 2098 1625 0 5807 2032 3775 0 0 0 0 0 6864 6864 0 0 0 0 0 0 0 0 0 0 132 132 0 0 0 0 0 0 0 0 0 0 0 0 0 0 734 42 692 0 Event Catering 13209 13209 0 0 Event Rentals 4858 4858 0 0 Event Student Transportation 2027 2027 0 0 Event door prizes 667 667 0 0 1712 1666 46 0 324108 288917 35191 0 88938 34032 0 55456 95082 0 8726 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 71431 192746 160919 30000 880 0 0 50000 0 0 0 24842 0 0 20000 0 0 0 0 0 104842 20880 X 0 0 0 0 87904 140039 87904 140039 192746 160919 52135 0 0 0 0 0 X 0 0 0 X 159004 176707 199283 276612 375988 1187594 0 0 0 0 0 0 2000 2000 2000 0 1500 7500 161004 178707 201283 276612 377488 1195094 0 1195094 12 91 5 7 255 370 0 0 0 0 0 0 0 0 0 0 0 0 1195464 0 0.99969 0.99982 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 24842 0 24842 0 1 X Hacker took funds from our bank account. Bank repaid the full amount in 2023. 71431 71431 Schedule D, Part IV, Line 1b As stated in our 2021 Schedule D, Part XIII, the Entrepreneurship Foundation has served as the administrator for a consortium of entrepreneurs and their supporters to receive funds on behalf of an annual CT Entrepreneur Awards Celebration. The reason we were asked to serve in this capacity was because the ad hoc group of organizations that established the program was not a legal entity, but rather an ad hoc committee. The group asked the Entrepreneurship Foundation to receive, manage and expend collected funds on behalf of the collective program. Schedule D, Part IV, Line 2b The arrangement was for the Entrepreneurship Foundation, a founding member of the consortium of entrepreneurship organizations, to receive contributions in support of the Entrepreneurship Celebration and Awards Program and to pay the expenses of the program through these funds; and if the annual celebration was discontinued for any reason, the fund balance would accrue to the Entrepreneurship Foundation to support other entrepreneurship programs. This did occur in 2022 as no volunteers stepped forward to assume manage and continue the program. 1 Housatonic Community College Foundation 900 Lafayette Blvd Bridgeport CT 06604 061291848 12800 0 na na To support the Manufacturing Training Center Bridgeport Regional Business Council 10 Middle St Bridgeport CT 06604 060271980 60000 0 na na Staffing to connect job seekers with apprenticeships. University of Bridgeport Innovation Center 82 Marina Park Circle Bridgeport CT 06604 861374088 10000 0 na na To underwrite R&D for promising new discoveries. 1 3 Awards to winners of Business Plan Competitions 31 35588 0 na Schedule I, Part I, Line 2 Part 1, Line 2 -Grants of $5,000 or more are contingent on the recipient providing an invoice to be paid by the Foundation or a receipt for an expense related to starting the business. Smaller grants, typically $500 to $1,000,were monitored, but the usage was at the discretion of the awardee. Michael Roer President The Foundation lacked adequate liquid funds to pay the president $20,000 of his salary. X 20000 20000 0 1 0 20000 Form 990, Part III, Line 2 At the request of the Regional Business Council and the City of Bridgeport, the Foundation added a Workforce Development program to help connect residents to job opportunities in the manufacturing sector; and to assist struggling companies with supply chain issues. Form 990, Part VI, Section A, Line 5 The Foundation's bank account was hacked and $71,431 was stolen. The bank and the police were contacted and the account was closed. After their investigations, the entire amount was returned to the Foundation in January 2023. Form 990, Part VI, Section B, Line 11b The organization emailed the complete Form 990 to each member of the board, and reviewed the document at a meeting of the Board of Directors on July 31, 2023. Form 990, Part VI, Section B, Line 12c The President monitors contracts with outside vendors to avoid conflicts of interest. Form 990, Part VI, Section B, Line 15 The Compensation Committee, chaired by the Corporate Secretary, meets annually to determine and authorize remuneration for the resident, an independent contractor. Funds are not dispersed until and if there are adequate funds available, after considering all current payables. There are no other paid officers. Form 990, Part VI, Section C, Line 19 Upon receipt of written requests, the President will send the requested documents