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← NETWORK FOR TEACHING ENTREPRENEURSHIP

Form 990 for tax year 2024

Filed by NETWORK FOR TEACHING ENTREPRENEURSHIP.

Totals

Total revenue
$9,899,899
Total expenses
$13,349,910
Contributions and grants received
$7,129,801
Grants paid
$285,272
Program service revenue
$2,322,752
Investment income
$254,613
Other revenue
$192,733
Total assets, end of year
$11,784,536
Total liabilities, end of year
$4,178,044
Net assets or fund balances, end of year
$7,606,492
Program services expenses (Part IX)
$9,270,231
Management and general expenses
$2,143,438
Fundraising expenses
$1,936,241
Program service expenses (Part III)
$9,270,231

Program services were 69.4% 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.

  • 1c · Fundraising events

    $116,262

  • 1d · Related organizations

    $648,000

  • 1f · All other contributions, gifts and grants

    $6,365,539

  • 2a · Program service revenue: CONTRACT SERVICES

    total $2,215,075 · related or exempt $2,215,075 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: LICENSE FEES

    total $107,677 · related or exempt $107,677 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $253,732 · related or exempt $0 · unrelated business $0 · excluded $253,732

  • 5 · Royalties

    total $220,247 · related or exempt $0 · unrelated business $0 · excluded $220,247

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $881

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $881 · other assets $0

  • 7d · Net gain or loss

    total $881 · related or exempt $0 · unrelated business $0 · excluded $881

  • 8a · Fundraising events: gross income

    $289,310

  • 8a · Fundraising events: contributions included on line 1c

    $116,262

  • 8b · Fundraising events: direct expenses

    $367,191

  • 8c · Net income from fundraising events

    total -$77,881 · unrelated business $0 · excluded -$77,881

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $50,367 · related or exempt $0 · unrelated business $0 · excluded $50,367

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $50,367

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $269,532 · program services $269,532

  • 3 · Grants to foreign organizations and individuals

    total $15,740 · program services $15,740

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,369,860 · program services $993,652 · management and general $170,973 · fundraising $205,235

  • 7 · Other salaries and wages

    total $5,579,729 · program services $4,047,357 · management and general $696,408 · fundraising $835,964

  • 8 · Pension plan contributions

    total $108,983 · program services $79,053 · management and general $13,602 · fundraising $16,328

  • 9 · Other employee benefits

    total $581,676 · program services $421,929 · management and general $72,599 · fundraising $87,148

  • 10 · Payroll taxes

    total $548,124 · program services $397,591 · management and general $68,412 · fundraising $82,121

  • 11b · Fees: legal

    total $62,871 · program services $0 · management and general $62,871 · fundraising $0

  • 11c · Fees: accounting

    total $115,004 · program services $0 · management and general $115,004 · fundraising $0

  • 11g · Fees: other

    total $1,262,366 · program services $425,436 · management and general $446,384 · fundraising $390,546

  • 12 · Advertising and promotion

    total $76,639 · program services $70,091 · management and general $833 · fundraising $5,715

  • 13 · Office expenses

    total $131,289 · program services $74,160 · management and general $45,654 · fundraising $11,475

  • 14 · Information technology

    total $249,612 · program services $199,690 · management and general $24,961 · fundraising $24,961

  • 16 · Occupancy

    total $533,328 · program services $318,766 · management and general $169,908 · fundraising $44,654

  • 17 · Travel

    total $426,663 · program services $277,189 · management and general $130,708 · fundraising $18,766

  • 19 · Conferences, conventions and meetings

    total $188,440 · program services $11,632 · management and general $1,394 · fundraising $175,414

  • 22 · Depreciation, depletion and amortization

    total $14,259 · program services $1,598 · management and general $12,661 · fundraising $0

  • 23 · Insurance

    total $153,808 · program services $123,046 · management and general $15,381 · fundraising $15,381

  • 24a · Other expenses: STUDENTS' EXPENSES

    total $1,026,636 · program services $1,026,636 · management and general $0 · fundraising $0

  • 24b · Other expenses: PUBLICATIONS & SUBSCRIPTIONS

    total $285,276 · program services $266,436 · management and general $7,927 · fundraising $10,913

  • 24c · Other expenses: TEACHERS' EXPENSES

    total $197,537 · program services $197,537 · management and general $0 · fundraising $0

  • 24d · Other expenses: EQUIP. FURNITURE & FIXTURES

    total $54,559 · program services $13,800 · management and general $40,759 · fundraising $0

  • 24e · All other expenses

    total $97,979 · program services $39,360 · management and general $46,999 · fundraising $11,620

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,831,744 · end of year $807,488

  • 2 · Savings and temporary cash investments

    beginning of year $4,044,078 · end of year $5,314,944

  • 3 · Pledges and grants receivable

    beginning of year $6,126,334 · end of year $2,174,025

  • 4 · Accounts receivable

    beginning of year $563,159 · end of year $460,760

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,512 · end of year $1,512

  • 9 · Prepaid expenses and deferred charges

    beginning of year $274,193 · end of year $449,676

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

    $2,966,520

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

    $2,820,062

  • 10c · Land, buildings and equipment, net

    beginning of year $9,511 · end of year $146,458

  • 11 · Investments: publicly traded securities

    beginning of year $29,492 · end of year $3,138

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $438,165 · end of year $2,426,535

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,742,762 · end of year $1,510,147

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $518,923 · end of year $2,667,897

  • 27 · Net assets without donor restrictions

    beginning of year $8,141,996 · end of year $5,795,992

  • 28 · Net assets with donor restrictions

    beginning of year $2,914,507 · end of year $1,810,500

Mission and programs · 2024

Mission

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.

Activities or mission (Part I)

TO PROVIDE EDUCATIONAL PROGRAMS, ACTIVATE ENTREPRENEURIAL MINDSET AND TEACH BUSINESS/ACADEMIC SKILLS TO YOUTH IN UNDER-RESOURCED COMMUNITIES, INCREASING COLLEGE/CAREER READINESS.

  • 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. NOTE - CONSISTENT WITH IRS FORM 990 INSTRUCTIONS, PART III, LINE 4A, EXPENSES AND REVENUE DO NOT INCLUDE DONATED SERVICES OF 131,615 CLASSROOM HOURS THAT THE ORGANIZATION TAUGHT BY VOLUNTEER TEACHERS HAVING AN ESTIMATED VALUE OF $6,677,616.

    Expenses $9,270,231 · Grants $285,272 · Revenue $2,322,752

As filed on the 2024 return.

Listed in Part VII

  • Kyle Garman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Michael Kascmar

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Alex Rappaport

    DIRECTOR, AS OF 1/30/25

    Total calculated
    $0
    Hours/week
    2

  • Alexis Jeffries

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Anthony Salcito

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carla Thompson Payton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carol Fulp

    DIRECTOR, THRU 11/18/24

    Total calculated
    $0
    Hours/week
    2

  • Chuck Jacobson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Wellisch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jean Eddy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kenneth M Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Latoya Rowell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lawrence Gennari

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Naveen Nallappa

    DIRECTOR, AS OF 9/9/24

    Total calculated
    $0
    Hours/week
    2

  • Pamela Codispoti Habner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Patricia Alper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sandra Rosa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tony Frazier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tucker York

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Dr Jean-Daniel Larock

    CEO/PRESIDENT

    Total calculated
    $751,170
    From this org
    $688,238
    From related orgs
    $0
    Other
    $62,932
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $594,542
    Bonus
    $93,000
    Other
    $696
    Deferred
    $38,626
    Nontaxable benefits
    $24,306
    Filer's total
    $751,170

  • Mary Radford

    CHIEF FINANCIAL OFFICER

    Total calculated
    $343,306
    From this org
    $323,845
    From related orgs
    $0
    Other
    $19,461
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $307,311
    Bonus
    $15,838
    Other
    $696
    Deferred
    $9,680
    Nontaxable benefits
    $9,781
    Filer's total
    $343,306

  • Jane Walsh

    CHIEF ADVANCE OFFICER

    Total calculated
    $274,163
    From this org
    $265,101
    From related orgs
    $0
    Other
    $9,062
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $217,387
    Bonus
    $47,250
    Other
    $464
    Deferred
    $7,925
    Nontaxable benefits
    $1,137
    Filer's total
    $274,163

  • Jacques Brignolle

    PROGRAM DIRECTOR, SOUTHEAST

    Total calculated
    $180,323
    From this org
    $146,873
    From related orgs
    $0
    Other
    $33,450
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,417
    Bonus
    $0
    Other
    $456
    Deferred
    $1,492
    Nontaxable benefits
    $31,958
    Filer's total
    $180,323

  • Jason Delgatto

    VP CURRICULUM & RESEARCH

    Total calculated
    $186,637
    From this org
    $156,209
    From related orgs
    $0
    Other
    $30,428
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,909
    Bonus
    $0
    Other
    $300
    Deferred
    $3,132
    Nontaxable benefits
    $27,296
    Filer's total
    $186,637

  • Jeannine Schloss

    CHIEF PROGRAM OFFICER

    Total calculated
    $255,033
    From this org
    $212,112
    From related orgs
    $0
    Other
    $42,921
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $211,656
    Bonus
    $0
    Other
    $456
    Deferred
    $5,795
    Nontaxable benefits
    $37,126
    Filer's total
    $255,033

  • Ron Jacobs

    DIRECTOR OF IT

    Total calculated
    $161,587
    From this org
    $148,667
    From related orgs
    $0
    Other
    $12,920
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,391
    Bonus
    $0
    Other
    $276
    Deferred
    $4,444
    Nontaxable benefits
    $8,476
    Filer's total
    $161,587

  • Scott Nasatir

    EXECUTIVE DIRECTOR - MIDWEST

    Total calculated
    $152,811
    From this org
    $150,005
    From related orgs
    $0
    Other
    $2,806
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,573
    Bonus
    $0
    Other
    $432
    Deferred
    $0
    Nontaxable benefits
    $2,806
    Filer's total
    $152,811

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
DURING THE TAX YAER, JEAN-DANIEL LAROCK RECEIVED $30,000 FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN, a plan described in section 457(f) and a split-dollar life insurance plan.
Schedule J, Part I, Line 7 Non-fixed payments
SCHEDULE J, PART II, COLUMN (B)(II) REPORTS DISCRETIONARY INCENTIVE AMOUNT THAT WERE APPROVED BY THE BOARD BASED UPON PERFORMANCE.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
21 April 2026
IRS schema version
2024v5.1
Source object
202621119349301712

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