Form 990 for tax year 2023

Totals

Total revenue

$1,969,422

Total expenses

$2,716,032

Contributions and grants received

$1,097,012

Grants paid

$16,000

Program service revenue

$850,043

Investment income

$22,367

Other revenue

$0

Total assets, end of year

$1,614,580

Total liabilities, end of year

$1,361,685

Net assets or fund balances, end of year

$252,895

Program services expenses (Part IX)

$1,530,228

Management and general expenses

$1,185,804

Fundraising expenses

$0

Program service expenses (Part III)

$1,530,228

Program services were 56.3% 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.

Mission and programs · 2023

• AS PART OF BHEF'S REGIONAL TALENT INITIATIVES, FUNDED BY THE JPMORGAN CHASE FOUNDATION, THIS INITIATIVE PARTNERS WITH BUSINESS ROUNDTABLE (BRT) COMPANIES AND BHEF NETWORK COMPANIES TO MEET THE DYNAMIC NEEDS OF BOTH EMPLOYERS AND REGIONAL ECONOMIES. BHEF SUPPORTS LEADING U.S. COMPANIES IN THEIR WORK WITH COMMUNITY COLLEGES AND FOUR-YEAR UNIVERSITIES TO OFFER APPRENTICESHIPS AND FILL HIGH-DEMAND JOBS IN EMERGING AND HIGH-TECH FIELDS SUCH AS CYBERSECURITY, DATA ANALYTICS, SKILLED TRADES, AI, PROFESSIONAL SERVICE ROLES AND OTHERS TAILORED TO MEET THE SPECIFIC DEMANDS OF EACH COMPANY AND REGION USING PROVEN, REPLICABLE, AND SCALABLE METHODS. THIS INITIATIVE ACCELERATES ACCESS TO TALENT, CREATES HIGH-PERFORMING PARTNERSHIPS, AND FOCUSES ON SUPPORTING DIVERSE AND TRADITIONALLY UNDERREPRESENTED GROUPS WITHIN THE WORKFORCE. IN ADDITION TO SUPPORTING THE INDIVIDUAL REGIONAL PROJECTS, BHEF CONNECTS PARTNERS AND CAPTURES LEARNING ACROSS THE DIFFERENT INITIATIVE TO SUPPORT MEMBERS AND THE BROADER WORKFORCE DEVELOPMENT FIELD.

  Expenses $632,734 · Grants $16,000

• NETWORK MEMBERSHIP - BHEF INCURS EXPENSES RELATED TO THE BUSINESS OF DRIVING MEMBERSHIP NETWORK ACTIVITY, WHICH INVOLVES RECRUITMENT, ENGAGEMENT, COMMUNICATION, AND SERVICE DELIVERY. THIS IS ACHIEVED THROUGH IN-PERSON AND VIRTUAL CONVENINGS, COLLABORATIVE RESEARCH AND PROGRAMMATIC INITIATIVES AND COMMUNICATION.

  Expenses $462,938 · Revenue $850,043

• ONE OF BHEF'S REGIONAL TALENT INITIATIVES, THIS PROGRAM IS FUNDED BY CONNECTICUT'S OFFICE OF WORKFORCE STRATEGY, TECH TALENT ACCELERATOR, LED BY THE BUSINESS-HIGHER EDUCATION FORUM (BHEF) AND THE NEW ENGLAND BOARD OF HIGHER EDUCATION (NEBHE) CREATES BUSINESS HIGHER EDUCATION PARTNERSHIPS THAT DEVELOP NEWLY TAILORED CREDENTIALS AVAILABLE TO CONNECTICUT'S LEARNERS IN HIGH DEMAND TECHNOLOGY FIELDS SUCH AS CLOUD COMPUTING, CYBERSECURITY, AI, AND MOBILE APPLICATION DEVELOPMENT. BHEF SUPPORTS EDUCATORS AND BUSINESS PARTNERS WITH A COMMUNITY OF PRACTICE TO LEARN BEST PRACTICES FOR DEVELOPING INDUSTRY-VALIDATED PROGRAMS AND EMBEDDING IN-DEMAND CREDENTIALS AND A PLATFORM FOR ENGAGING WITH STATEWIDE TECH TALENT AND WORKFORCE DEVELOPMENT INITIATIVES.

  Expenses $204,866

• NUMBER 4: BHEF PROVIDES TECHNICAL ASSISTANCE TO WEST GEORGIA TECHNICAL COLLEGE (WGTC) AND LABOR MARKET DATA FOR WGTC'S NEW ADVANCED MANUFACTURING REGIONAL TRAINING CENTER FOCUSED ON SERVING EMPLOYERS BY CLOSING THE SKILLS TALENT GAP IN THE FOUR-COUNTY REGION CLOSEST TO THE PROPOSED CENTER FACILITY. THE WORK AIMS TO ENHANCE THE EXISTING PHYSICAL CENTER TO MEET INDUSTRY PARTNER TRAINING NEEDS, EMBED INDUSTRY-DRIVEN EXPERIENTIAL LEARNING OPPORTUNITIES, ALIGN AND REFRESH PROGRAMMING AND CREDENTIALING, AND ON-BOARD STAFF TO LAUNCH, MARKET, AND SUSTAIN EMPLOYER PARTNERSHIPS. NUMBER 5: FUNDED BY THE STRADA EDUCATION FOUNDATION, OUR ANNUAL REPORT SERIES IS A RESOURCE THAT GATHERS INTELLIGENCE FROM EMPLOYERS TO IDENTIFY THE EMERGING SKILLS AND PARTNERSHIP MODELS THAT ARE NEEDED TO DRIVE CLOSER ALIGNMENT ACROSS CURRICULUM AND TALENT PIPELINES. RELEASED IN THE FORM OF A PUBLICLY AVAILABLE REPORT, "FORGING PARTNERSHIPS TO ALIGN EDUCATION AND INDUSTRY FOR THE WORKFORCE OF TOMORROW," THIS RESOURCE SHARES DATA INSIGHTS AND ACTIONABLE EXAMPLES TO ENABLE HIGHER EDUCATION PATHWAYS TO BE DEVELOPED TO BETTER ALIGN TO INDUSTRY NEEDS. NUMBER 6: FUNDED BY THE ECMC FOUNDATION, THE BUSINESS-HIGHER EDUCATION FORUM'S (BHEF) FACULTY INNOVATION FELLOWSHIP BRINGS A CHANGE MANAGEMENT AND EMPLOYER ALIGNMENT METHODOLOGY TO ENABLE EMERGING HIGHER EDUCATION LEADERS TO DESIGN, DEVELOP, AND LEAD THE DEVELOPMENT OF EFFECTIVE, INDUSTRY-ALIGNED TALENT PIPELINES THAT EXPAND PATHWAYS TO STUDENT SUCCESS. COLLABORATION BETWEEN BUSINESS AND HIGHER EDUCATION IS VITAL TO ENSURE THAT HIGHER EDUCATION EXPERIENCES PAVE THE WAY FOR REWARDING EMPLOYMENT. FACULTY FELLOWS ARE LEADERS EMPOWERED TO DRIVE POSITIVE CHANGE THAT POSITION STUDENTS FOR SUCCESS AND ENABLES THEIR INSTITUTIONS TO BE LEADERS IN EMPLOYER ENGAGEMENT. NUMBER 7: FUNDED BY THE STRADA EDUCATION FOUNDATION, THE PUBLICLY AVAILABLE "EXPANDING INTERNSHIPS: HARNESSING EMPLOYER INSIGHTS TO BOOST OPPORTUNITY AND ENHANCE LEARNING" FILLS AN EVIDENCE GAP BY EXAMINING THE EMPLOYER PERSPECTIVE ON WBL. BY INTERVIEWING 2,700 EMPLOYERS, COMPLETING A LITERATURE REVIEW AND CONDUCTING INTERVIEWS AND FOCUS GROUPS, THE REPORT IDENTIFIES THE KEY CHALLENGES COMPANIES FACE IN OFFERING INTERNSHIPS, FROM OPERATIONAL CONSTRAINTS TO MARKET UNCERTAINTIES. IT ALSO HIGHLIGHTS THE IMPORTANCE OF QUALITY IN INTERNSHIP PROGRAMS AND THE NEED TO INCREASE OPPORTUNITIES FOR STUDENTS. THIS REPORT WAS A FIRST STEP IN OUR WORK TO EXPAND CAPACITY IN THIS AREA. CONFERENCES: BHEF CONDUCTS SEMI-ANNUAL CONVENINGS TO CATALYZE DIALOGUE AND ACTION BETWEEN ITS CORPORATE AND ACADEMIC NETWORK AND FOUNDATION AND STRATEGIC PARTNERS ON ISSUES RELATED TO BUSINESS TALENT NEEDS, WORKFORCE DEVELOPMENT, AND HIGHER EDUCATION INNOVATION TO MEET THESE NEEDS. POLICYMAKERS FROM STATE AND FEDERAL GOVERNMENTS ARE OFTEN INVITED TO PARTICIPATE IN THESE DISCUSSIONS. ACADEMIC, BUSINESS, AND PHILANTHROPIC LEADERS AT THE CUTTING-EDGE OF TECHNOLOGIES AND EDUCATIONAL PROGRAMMING PARTICIPATE. MANY GIVE PRESENTATIONS ON SUCCESSFUL LOCAL EDUCATIONAL EFFORTS THAT MAY BE APPLICABLE ON A BROADER REGIONAL OR NATIONAL SCALE. BHEF ALSO HOSTS VIRTUAL AND IN-PERSON CONVENINGS ON TOPICS AT THE INTERSECTION OF BUSINESS AND HIGHER EDUCATION.

  Expenses $229,690

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• WAKE TECHNICAL COMMUNITY COLLEGE

  $16,000

  SUBAWARD GRANT

Provenance

Return type

form_990

Tax year

2023

Filed

11 June 2025

IRS schema version

2023v6.0

Source object

202541629349301614

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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