Form 990 for tax year 2023
Filed by NUSSBAUM CENTER FOR ENTREPRENEURSHIP INC.
Totals
- Total revenue
- $1,232,525
- Total expenses
- $1,127,585
- Contributions and grants received
- $511,566
- Grants paid
- $0
- Program service revenue
- $611,589
- Investment income
- $82,225
- Other revenue
- $27,145
- Total assets, end of year
- $8,035,969
- Total liabilities, end of year
- $2,877,239
- Net assets or fund balances, end of year
- $5,158,730
- Program services expenses (Part IX)
- $978,033
- Management and general expenses
- $102,049
- Fundraising expenses
- $47,503
- Program service expenses (Part III)
- $978,033
Program services were 86.7% 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)
$233,850
-
1f · All other contributions, gifts and grants
$277,716
-
2a · Program service revenue: PROGRAM SERVICE FEES
total $552,129 · related or exempt $552,129
-
2b · Program service revenue: TELEPHONE & INTERNET F
total $56,160 · related or exempt $56,160
-
2c · Program service revenue: EASE PROGRAM SERVICE F
total $3,300 · related or exempt $3,300
-
3 · Investment income
total $83,279 · excluded $83,279
-
7b · Less cost or other basis and sales expenses
other assets $1,054
-
7c · Gain or loss
other assets -$1,054
-
7d · Net gain or loss
total -$1,054 · excluded -$1,054
-
11a · Other revenue: INSURANCE REIMBURSEMEN
total $27,145 · related or exempt $27,145
-
11e · Other revenue, total
$27,145
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $129,310 · program services $42,797 · management and general $48,638 · fundraising $37,875
-
7 · Other salaries and wages
total $113,117 · program services $99,678 · management and general $13,206 · fundraising $233
-
9 · Other employee benefits
total $16,716 · program services $9,240 · management and general $3,694 · fundraising $3,782
-
10 · Payroll taxes
total $19,021 · program services $11,375 · management and general $4,731 · fundraising $2,915
-
11b · Fees: legal
total $350 · program services $350
-
11c · Fees: accounting
total $15,500 · program services $15,500
-
11g · Fees: other
total $9,127 · program services $7,582 · management and general $956 · fundraising $589
-
12 · Advertising and promotion
total $81,565 · program services $81,565
-
13 · Office expenses
total $23,433 · program services $22,818 · management and general $615
-
16 · Occupancy
total $519,879 · program services $493,033 · management and general $25,722 · fundraising $1,124
-
17 · Travel
total $1,162 · program services $1,046 · management and general $58 · fundraising $58
-
19 · Conferences, conventions and meetings
total $26,752 · program services $25,676 · management and general $538 · fundraising $538
-
20 · Interest
total $109 · program services $109
-
22 · Depreciation, depletion and amortization
total $171,544 · program services $167,264 · management and general $3,891 · fundraising $389
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $535,695 · end of year $3,564,249
-
4 · Accounts receivable
beginning of year $2,004,172 · end of year $5,187
-
9 · Prepaid expenses and deferred charges
beginning of year $12,013 · end of year $6,194
-
10a · Land, buildings and equipment: cost or other basis
$5,743,870
-
10b · Land, buildings and equipment: accumulated depreciation
$1,293,473
-
10c · Land, buildings and equipment, net
beginning of year $4,573,474 · end of year $4,450,397
-
13 · Investments: program-related
beginning of year $5,996 · end of year $9,942
-
17 · Accounts payable and accrued expenses
beginning of year $34,191 · end of year $48,293
-
19 · Deferred revenue
beginning of year $2,004,614 · end of year $2,796,206
-
25 · Other liabilities
beginning of year $38,115 · end of year $32,740
-
27 · Net assets without donor restrictions
beginning of year $4,692,300 · end of year $4,782,582
-
28 · Net assets with donor restrictions
beginning of year $362,130 · end of year $376,148
Mission and programs · 2023
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 $978,033 · Revenue $611,589
As filed on the 2023 return.
Listed in Part VII
-
Barry FrankBARRY FRANK
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
George LothianGEORGE LOTHIAN
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Zac EngleZAC ENGLE
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Andrea BunnANDREA BUNN
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
John Benjamin BrownJOHN BENJAMIN BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Charlie Melvin JrCHARLIE MELVIN JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Charles YounceCHARLES YOUNCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Scott LeightySCOTT LEIGHTY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Wilson LesterWILSON LESTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Johnny WoodJOHNNY WOOD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Andy ScottANDY SCOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Rodney RobertsRODNEY ROBERTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Marcus ThomasMARCUS THOMAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sam FunchessSAM FUNCHESS
CHIEF EXECUTIVE OFFICER
- Total calculated
- $24,613
- From this org
- $24,613
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 1 related
-
Lisa HazlettLISA HAZLETT
PRESIDENT
- Total calculated
- $104,606
- From this org
- $104,606
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
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.
Grants on this return
No itemized grants to organizations on this return.
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.
-
NUSSBAUM CENTER PROPERTIES LLC
INCUBATOR · NC · income $0 · assets $1,918,377
Directly controlled by NCFE INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 22 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402139349301420
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