2024-04-04T13:32:57-05:00 2023-06-30 BDO USA 200 PARK AVENUE 38TH FLOOR NEW YORK NY 10166 990 2022-07-01 133408731 NETWORK FOR TEACHING ENTREPRENEURSHIP % MARY RADFORD NETW 2122323333 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 Mary Radford CFO 2122323333 2024-04-02 true Mary Radford 999009999 Paul Hammerschmidt P01384178 2128858000 2 2022 2023-04-26 12:10:37Z DR JEAN-DANIEL LAROCK 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 12483243 false X WWW.NFTE.COM X 1986 NY TO PROVIDE EDUCATIONAL PROGRAMS, ACTIVATE ENTREPRENEURIAL MINDSET AND TEACH BUSINESS/ACADEMIC SKILLS TO YOUTH IN UNDER-RESOURCED COMMUNITIES, INCREASING COLLEGE/CAREER READINESS. 12 11 83 4496 0 0 11576818 9561370 1888191 2167215 1304 98755 266798 316791 13733111 12144131 379733 427399 0 0 7117558 7398082 0 0 1687531 3224473 4304500 10721764 12129981 3011347 14150 11822494 12521146 1697596 2381966 10124898 10139180 X NETWORK FOR TEACHING ENTREPRENEURSHIP ("NFTE") IS A GLOBAL EDUCATIONAL NONPROFIT THAT PROVIDES HIGH-QUALITY ENTREPRENEURSHIP EDUCATION TO MIDDLE AND HIGH SCHOOL STUDENTS FROM UNDER-RESOURCED COMMUNITIES AS WELL AS ENTREPRENEURSHIP PROGRAMS FOR COLLEGE STUDENTS AND ADULT LEARNERS. SINCE OUR FOUNDING, WE HAVE EDUCATED MORE THAN A MILLION STUDENTS THROUGH IN-SCHOOL, OUT-OF-SCHOOL, COLLEGE, AND SUMMER CAMP PROGRAMS, OFFERED BOTH IN PERSON AND ONLINE. false false 8981043 427399 2172375 STUDENTS IN NFTE PROGRAMS LEARN HOW TO DEVELOP A BUSINESS PLAN AND HOW TO MARKET THEIR BUSINESS CONCEPT. THROUGH THE PROCESS OF CREATING THEIR OWN BUSINESS IDEA, NFTE STUDENTS BUILD BUSINESS AND ACADEMIC SKILLS, ARE INTRODUCED TO NEW CAREER PATHS, AND LEARN ABOUT A WIDE RANGE OF JOBS AND OCCUPATIONS. THEY ALSO DEVELOP THEIR ENTREPRENEURIAL MINDSET. NFTE STUDENTS LEARN TO THINK AND ACT LIKE ENTREPRENEURS, DEMONSTRATING SKILLS SUCH AS INITIATIVE AND SELF-RELIANCE, FLEXIBILITY AND ADAPTABILITY, CRITICAL THINKING AND PROBLEM SOLVING, COMMUNICATION AND COLLABORATION, CREATIVITY AND INNOVATION, OPPORTUNITY RECOGNITION, AND FUTURE ORIENTATION. THE ENTREPRENEURIAL MINDSET, TOGETHER WITH THE SKILLS NFTE TEACHES, PREPARES YOUTH FOR COLLEGE AND CAREER SUCCESS. NFTE PARTNERS WITH SCHOOLS, COMMUNITY GROUPS, AND YOUTH DEVELOPMENT ORGANIZATIONS TO BRING ENTREPRENEURSHIP EDUCATION TO DIVERSE LEARNERS. OUR WORK FOCUSES PRIMARILY ON MIDDLE AND HIGH SCHOOL STUDENTS IN UNDER-RESOURCED COMMUNITIES. WE TARGET PUBLIC SCHOOL DISTRICTS WITH FREE AND REDUCED LUNCH (FRL) ELIGIBILITY RATES OF 50% OR MORE, AND MOST OF OUR PARTNER SCHOOLS HAVE FRL RATES OF 70-80%. THE NFTE MODEL LEVERAGES CLASSROOM TEACHERS TO DELIVER THE NFTE CURRICULUM. THE BENEFIT TO NFTE IS THAT TEACHERS ARE PAID BY THEIR RESPECTIVE SCHOOL DISTRICTS. THE CHALLENGE FOR THE ORGANIZATION'S CONTRIBUTORS AND ASSESSORS IS RECOGNIZING THE ECONOMIC VALUE OF THOSE TEACHERS IS EXCLUDED, IN TAX REPORTING, FROM THE MEASUREMENT OF EXPENDITURES RELATED TO PROGRAM EFFORTS. THE TEACHERS ARE ESSENTIAL TO MEETING THE ORGANIZATION'S MISSION, THUS THE ECONOMIC VALUE MUST BE FACTORED INTO ANY ASSESSMENT OF THE ORGANIZATION TO HAVE A TRUE COMPARISON WITH OTHER ORGANIZATIONS. 8981043 true true false false false false false false false false true false false true true true false true false false true false true false true false false false true true false false false false false false false false false false false false false true true true false false true 209 0 true 83 true false false false false false true true false false false false false false X 12 11 false false false false false false false true true false false true true true true true true true false false AL AK AZ AR CA CT FL GA IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC OH OK OR PA RI SC TN TX VA WA WV WI X X MARY RADFORD 2122323333 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 X DR JEAN-DANIEL LAROCK CEO/PRESIDENT 50.0 2.0 X X 499918 0 57498 MARY RADFORD Chief Fin. & Admin. Officer 50.0 2.0 X 226816 0 15645 JEANNINE SCHLOSS CHIEF PROGRAM OFFICER 50.0 0.0 X 179892 0 28714 JANE WALSH EVP, Chief Advancement Officer 50.0 0.0 X 196504 0 7201 JASON DELGATTO VP CURRICULUM & RESEARCH 50.0 0.0 X 146937 0 29687 KIMBERLY SMALL EXECUTIVE DIRECTOR - LA 50.0 0.0 X 140477 0 26715 PETER JOHNSON DEVELOPMENT DIRECTOR 50.0 0.0 X 151395 0 10915 MICHAEL J KASCMAR CHAIR 2.0 0.0 X X 0 0 0 KYLE GARMAN VICE CHAIR, as of 10/13/22 2.0 0.0 X X 0 0 0 PATRICIA ALPER DIRECTOR 2.0 0.0 X X 0 0 0 LAUREN BEITELSPACHER DIRECTOR, THRU 6/30/2023 2.0 0.0 X X 0 0 0 TONY FRAZIER DIRECTOR 2.0 0.0 X 0 0 0 PAM HABNER DIRECTOR 2.0 0.0 X 0 0 0 GUS HARRIS DIRECTOR, THRU 6/30/2023 2.0 0.0 X 0 0 0 KEVIN ICHHPURANI DIRECTOR, THRU 4/10/2023 2.0 0.0 X 0 0 0 ALEXIS JEFFRIES DIRECTOR, AS OF 12/13/2022 2.0 0.0 X 0 0 0 MOLLIE RICHARDSON DIRECTOR, THRU 5/31/2023 2.0 0.0 X 0 0 0 SANDRA ROSA DIRECTOR, AS OF 5/31/2023 2.0 0.0 X 0 0 0 ANTHONY SALCITO DIRECTOR 2.0 0.0 X 0 0 0 DAVID SPRENG DIRECTOR, thru 7/6/22 2.0 2.0 X 0 0 0 TUCKER YORK DIRECTOR, as of 10/13/22 / VC 2.0 2.0 X 0 0 0 1541939 0 176375 10 false true false Lambert Co 37 Commerce Avenue SW GRAND RAPIDS MI 49503 Consulting services 143990 Legend Productions Inc 1 Bridge Street Suite 55 IRVINGTON NY 10533 Video production 119032 GOOD CAUSE CONSULTING 6204 FAIRMOUNT AVENUE DOWNERS GROVE IL 60516 CONSULTING SERVICES 108466 3 118333 635000 1023766 7784271 9561370 CONTRACT SERVICES 900099 1990235 1990235 LICENSE FEES 900099 176980 176980 2167215 98278 98278 0 215018 215018 0 0 0 477 477 477 477 329002 118333 329002 0 0 0 15270 10110 5160 5160 MISCELLANEOUS INCOME 900099 96613 96613 96613 12144131 2172375 410386 0 412099 412099 15300 15300 0 795861 616110 75088 104663 0 5493358 4252643 518288 722427 103232 79916 9740 13576 519395 402086 49004 68305 486236 376416 45875 63945 0 117504 117504 121464 121464 0 0 0 1090902 554610 177749 358543 43476 37436 4224 1816 105391 55685 35601 14105 193141 154513 19314 19314 0 601550 359542 191642 50366 373668 296199 15432 62037 0 203495 61771 7056 134668 0 0 17781 17781 156987 125589 15699 15699 STUDENTS EXPENSES 672825 672825 0 0 PUBLICATIONS & SUBSCRIPTIONS 237930 226942 6012 4976 TEACHERS EXPENSES 156140 156140 0 0 EQUIP. FURNITURE & FIXTURES 55105 46089 9016 0 157141 79132 24918 53091 12129981 8981043 1461407 1687531 119937 1579694 9033097 3416336 2140749 350140 147846 3098609 0 0 0 0 0 0 24006 21781 303539 393765 2815315 2788023 45074 27292 0 2684275 0 0 0 0 0 0 8246 949254 11822494 12521146 1325546 1305841 0 0 151240 0 0 0 0 0 0 0 0 0 0 0 220810 1076125 1697596 2381966 X 6743898 6026680 3381000 4112500 10124898 10139180 11822494 12521146 14150 132 X false true X true false X 7355860 10204592 10614048 11576818 9561370 49312688 0 0 7355860 10204592 10614048 11576818 9561370 49312688 12521301 36791387 135097 81551 105609 162352 313296 797905 0 109837 83582 134493 100298 96614 524824 50635417 4272577 0.72659 0.66980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 275392 248100 27292 791844 791844 0 1748079 1748079 0 27292 OPERATING LEASE 947342 EMPLOYEE AND TEACHER ADVANCES 1158 SECURITY DEPOSITS 754 949254 0 OPERATING LEASE PAYABLE 1074042 OTHER LIABILITIES 2083 1076125 X 17535373 132 5381000 10110 5391242 12144131 12144131 17521091 5381000 10110 5391110 12129981 12129981 PART X, LINE 2: THE ORGANIZATION FOLLOWS THE PROVISIONS OF U.S. GAAP, WHICH STATE THAT AN ORGANIZATION MUST RECOGNIZE THE TAX LIABILITY ASSOCIATED WITH TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. THE ORGANIZATION DOES NOT BELIEVE IT HAS TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECORDED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION HAS FILED FOR AND RECEIVED INCOME TAX EXEMPTIONS IN THE JURISDICTIONS WHERE IT IS REQUIRED TO DO SO. ADDITIONALLY, THE ORGANIZATION HAS FILED IRS FORM 990 INFORMATION RETURNS, AS REQUIRED, AND ALL OTHER APPLICABLE RETURNS IN JURISDICTIONS WHERE SO REQUIRED. Part XI AND PART XII, LINE 2D: COST OF GOODS SOLD .... $10,110 true Europe (Including Iceland and Greenland) 0 0 Program Services 215520 North America 0 0 Grantmaking 5400 East Asia and the Pacific 0 0 Grantmaking 5100 South Asia 0 0 Grantmaking 4800 0 0 0 0 230820 230820 World Series of Innovation East Asia and the Pacific 6 5100 WIRE true false false false false false PART I, LINE 2: ALL POTENTIAL GRANTEE ORGANIZATIONS AND THEIR PROGRAMS ARE ASSESSED BY A NFTE PROGRAM OFFICER WHO DISCUSSES THE PROPOSED WORK WITH THE PROSPECTIVE GRANTEE AND DETERMINES THE ORGANIZATION'S CAPACITY TO UNDERTAKE IT. ALL PROPOSED GRANTS AND WRITTEN SUBMISSIONS BY PROSPECTIVE GRANTEES UNDERGO REVIEW. NFTE ESTABLISHES A RANGE OF GRANT CONDITIONS AS OUTLINED IN LICENSEE AGREEMENT THAT IS SIGNED BY NFTE AND THE LICENSEE (GRANTEE). GRANTEES ARE REQUIRED TO SUBMIT A REPORT THAT IS REVIEWED BY A PROGRAM OFFICER FOR COMPLIANCE WITH THE TERMS OF THE LICENSEE AGREEMENT AND ALL ASSOCIATED GRANTS. NFTE MAINTAINS FINANCIAL RECORDS SUBSTANTIATING GRANT AND ASSISTANCE AMOUNTS. GALA 366583 71599 294984 294984 GOLF TOURNAMENT 80752 46734 34018 34018 0 0 0 0 447335 118333 329002 329002 329002 true Student-Prizes/Awards 199 251465 Student-Venture & Other Funds 252 160634 PART I, LINE 2: BUSINESS PLAN COMPETITION WINNERS RECEIVE SCHOLARSHIPS AS PART OF THEIR PRIZES. THESE PAYMENTS ARE GENERALLY DIRECTED TO ACADEMIC INSTITUTIONS. X X X false false false false false false false true false DR JEAN-DANIEL LAROCK CEO/PRESIDENT 409462 0 90000 0 456 0 32938 0 24560 0 557416 0 0 0 MARY RADFORD Chief Fin. & Admin. Officer 207620 0 18500 0 696 0 6770 0 8875 0 242461 0 0 0 JANE WALSH EVP, Chief Advancement Officer 175808 0 20000 0 696 0 5874 0 1327 0 203705 0 0 0 JEANNINE SCHLOSS CHIEF PROGRAM OFFICER 170842 0 8750 0 300 0 5473 0 23241 0 208606 0 0 0 JASON DELGATTO VP CURRICULUM & RESEARCH 139423 0 7250 0 264 0 3009 0 26678 0 176624 0 0 0 KIMBERLY SMALL EXECUTIVE DIRECTOR - LA 139865 0 0 0 612 0 3972 0 22743 0 167192 0 0 0 PETER JOHNSON DEVELOPMENT DIRECTOR 145431 0 0 0 5964 0 4364 0 6551 0 162310 0 0 0 PART I, LINE 7: SCHEDULE J, PART II, COLUMN (B)(II) REPORTS DISCRETIONARY INCENTIVE AMOUNTS THAT WERE APPROVED BY THE BOARD BASED UPON PERFORMANCE. FORM 990, PART VI, SECTION A, LINE 11B: THE INITIAL DRAFT RETURN IS REVIEWED BY THE CFO AND THE Director of Finance, WHO COMPARE THE RETURN TO THE AUDITED FINANCIAL REPORT. THE RESULTS ARE COMMUNICATED WITH OUR RETURN PREPARERS WHO HAVE A CHANCE TO AGREE WITH OR CLARIFY WHY POSITIONS WERE TAKEN. IF QUESTIONS ARE FORTH COMING, THEY ARE RESOLVED AND A FINAL RETURN IS SUBMITTED TO MANAGEMENT AND AUDIT COMMITTEE AS WELL AS THE ENTIRE BOARD, SIGNED BY MANAGEMENT, AND FILED WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C: EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL SIGN A STATEMENT ANNUALLY OR UPON APPOINTMENT WHICH AFFIRMS SUCH PERSON : A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B) HAS READ AND UNDERSTANDS THE POLICY, C) HAS AGREED TO COMPLY WITH THE POLICY, AND D) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINES 15A AND 15B: TYPICALLY, EACH YEAR, EMPLOYEES' BASE SALARIES ARE REVIEWED FOR POSSIBLE SALARY ADJUSTMENTS. THE PERCENTAGE OF THE ADJUSTMENT, IF ANY, IS DEPENDENT ON MANY FACTORS INCLUDING, BUT NOT LIMITED TO, MARKET CONDITIONS, INTERNAL AND EXTERNAL COMPETITIVENESS, PERFORMANCE OF BOTH THE EMPLOYEE AND THE ORGANIZATION, AND HOW LONG THE EMPLOYEE HAS BEEN IN THEIR CURRENT POSITION AND WITH THE COMPANY. THE ORGANIZATION PERIODICALLY ENGAGES AN OUTSIDE COMPENSATION CONSULTANT IN CONJUNCTION WITH THE HR DEPARTMENT TO REVIEW AND COMPARE COMPENSATION ACROSS ALL TITLES, AND TO ESTABLISH SALARY BANDS FOR EACH POSITION. IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ESTABLISHES ANNUAL GOALS AND REVIEWS PERFORMANCE AGAINST THOSE GOALS AND REVIEWS COMPARABLE COMPENSATION FROM OTHER SIMILAR ORGANIZATIONS. THE DECISION IS DOCUMENTED AND FILED IN THE PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS CONSOLIDATED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON ITS OWN WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. NFTE ENDOWMENT FUND INC 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 270135465 SUPPORT NY 501(C)(3) 12B NFTE true false false true false false false false false false false false true true true true false false false false NFTE ENDOWMENT FUND INC C 635000 COST