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Nonprofiteer
← NUSSBAUM CENTER FOR ENTREPRENEURSHIP INC

Form 990 for tax year 2025

Filed by NUSSBAUM CENTER FOR ENTREPRENEURSHIP INC.

Totals

Total revenue
$1,511,661
Total expenses
$1,305,237
Contributions and grants received
$719,923
Grants paid
$0
Program service revenue
$694,828
Investment income
$95,898
Other revenue
$1,012
Total assets, end of year
$11,589,176
Total liabilities, end of year
$1,239,105
Net assets or fund balances, end of year
$10,350,071
Program services expenses (Part IX)
$1,142,067
Management and general expenses
$114,098
Fundraising expenses
$49,072
Program service expenses (Part III)
$1,142,067

Program services were 87.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $20,000

  • 1f · All other contributions, gifts and grants

    $699,923

  • 2a · Program service revenue: PROGRAM SERVICE FEES

    total $641,913 · related or exempt $641,913

  • 2b · Program service revenue: TELEPHONE & INTERNET F

    total $52,915 · related or exempt $52,915

  • 3 · Investment income

    total $95,898 · excluded $95,898

  • 11a · Other revenue: OTHER REIMBURSEMENTS

    total $1,012 · related or exempt $1,012

  • 11e · Other revenue, total

    $1,012

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $256,472 · program services $153,883 · management and general $63,519 · fundraising $39,070

  • 7 · Other salaries and wages

    total $94,630 · program services $86,822 · management and general $7,118 · fundraising $690

  • 9 · Other employee benefits

    total $32,539 · program services $22,309 · management and general $6,546 · fundraising $3,684

  • 10 · Payroll taxes

    total $26,288 · program services $18,022 · management and general $5,289 · fundraising $2,977

  • 11b · Fees: legal

    total $22,863 · program services $22,863

  • 11c · Fees: accounting

    total $33,300 · program services $33,300

  • 11d · Fees: lobbying

    total $48,000 · program services $48,000

  • 11g · Fees: other

    total $45,501 · program services $44,323 · management and general $754 · fundraising $424

  • 12 · Advertising and promotion

    total $20,333 · program services $20,333

  • 13 · Office expenses

    total $33,348 · program services $32,552 · management and general $796

  • 16 · Occupancy

    total $522,410 · program services $498,762 · management and general $22,751 · fundraising $897

  • 17 · Travel

    total $4,406 · program services $3,966 · management and general $220 · fundraising $220

  • 19 · Conferences, conventions and meetings

    total $11,135 · program services $10,247 · management and general $444 · fundraising $444

  • 20 · Interest

    total $5,818 · program services $5,818

  • 22 · Depreciation, depletion and amortization

    total $148,194 · program services $140,867 · management and general $6,661 · fundraising $666

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $593,087 · end of year $430,347

  • 4 · Accounts receivable

    beginning of year $999,718 · end of year $4,801

  • 7 · Other notes and loans receivable

    beginning of year $6,312,000 · end of year $6,312,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,345 · end of year $25,745

  • 10a · Land, buildings and equipment: cost or other basis

    $5,515,865

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,461,920

  • 10c · Land, buildings and equipment, net

    beginning of year $4,194,485 · end of year $4,053,945

  • 13 · Investments: program-related

    beginning of year $9,942 · end of year $9,942

  • 15 · Other assets

    beginning of year $529,328 · end of year $752,396

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,524,700 · end of year $160,755

  • 19 · Deferred revenue

    beginning of year $118,342 · end of year $115,413

  • 23 · Secured mortgages and notes payable

    beginning of year $1,319,998 · end of year $962,937

  • 27 · Net assets without donor restrictions

    beginning of year $9,328,717 · end of year $10,283,044

  • 28 · Net assets with donor restrictions

    beginning of year $367,148 · end of year $67,027

Mission and programs · 2025

Mission

FURTHER ECONOMIC DEVELOPMENT AND SOCIAL WELFARE IN GREENSBORO AND SURROUNDING AREAS WITH EMPHASIS ON PROMOTING AND ASSISTING THE GROWTH AND DEVELOPMENT OF SMALL BUSINESSES.

  • OPERATES AN INCUBATOR FACILITY TO ASSIST NON-RETAIL EMERGING AND START-UP ENTERPRISES BY PROVIDING LOW COST, FURNISHED OFFICE AND LIGHT MANUFACTURING SPACE ALONG WITH SHARED SUPPORT SERVICES INCLUDING RECEPTIONIST, CONSULTING, AND SECRETARIAL SERVICES. BY ASSISTING THESE NEW BUSINESSES IN BECOMING SUCCESSFUL ENTITIES, THE CENTER OFFERS ENHANCED EMPLOYMENT OPPORTUNITES AND OTHER ECONOMIC BENEFITS TO THE GREATER GREENSBORO AREA.

    Expenses $1,142,067 · Revenue $695,840

As filed on the 2025 return.

Listed in Part VII

  • BARRY FRANK

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • GEORGE LOTHIAN

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • ZAC ENGLE

    TREASURER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • ANDREA BUNN

    SECRETARY

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • JOHN BENJAMIN BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHARLIE MELVIN JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHARLES YOUNCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SCOTT LEIGHTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOHNNY WOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RODNEY ROBERTS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARCUS THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN COOKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ODELL CLEVELAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SAM FUNCHESS

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $151,486
    From this org
    $151,486
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $151,486
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $151,486

  • LISA HAZLETT

    PRESIDENT

    Total calculated
    $104,986
    From this org
    $104,986
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • STEELHOUSE TITLE HOLDING CORPORATION I

    501(C)(2) · HOLDING TITLE TO PROPERTY AND COLLECTING AND REMITTING INCOME LESS EXPENSES · NC

    Directly controlled by THE NUSSBAUM CENTER FOR ENTREPRENSURSHIP INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2025
IRS schema version
2025v4.2
Source object
202602159349300905

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