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← NETWORK FOR TEACHING ENTREPRENEURSHIP

Form 990 for tax year 2023

Filed by NETWORK FOR TEACHING ENTREPRENEURSHIP.

Totals

Total revenue
$14,749,821
Total expenses
$13,832,498
Contributions and grants received
$11,887,584
Grants paid
$309,671
Program service revenue
$2,280,411
Investment income
$199,254
Other revenue
$382,572
Total assets, end of year
$13,318,188
Total liabilities, end of year
$2,261,685
Net assets or fund balances, end of year
$11,056,503
Program services expenses (Part IX)
$9,992,297
Management and general expenses
$1,966,602
Fundraising expenses
$1,873,599
Program service expenses (Part III)
$9,992,297

Program services were 72.2% 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

    $143,154

  • 1d · Related organizations

    $6,172,072

  • 1f · All other contributions, gifts and grants

    $5,572,358

  • 2a · Program service revenue: CONTRACT SERVICES

    total $2,145,437 · related or exempt $2,145,437

  • 2b · Program service revenue: LICENSE FEES

    total $134,974 · related or exempt $134,974

  • 3 · Investment income

    total $199,231 · excluded $199,231

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $310,911 · excluded $310,911

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $23

  • 7c · Gain or loss

    securities $23

  • 7d · Net gain or loss

    total $23 · excluded $23

  • 8a · Fundraising events: gross income

    $346,354

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

    $143,154

  • 8b · Fundraising events: direct expenses

    $346,354

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $2,788

  • 10b · Cost of goods sold

    $5,295

  • 10c · Net income from sales of inventory

    total -$2,507 · related or exempt -$2,507

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $74,168 · excluded $74,168

  • 11e · Other revenue, total

    $74,168

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $291,599 · program services $291,599

  • 3 · Grants to foreign organizations and individuals

    total $18,072 · program services $18,072

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $940,832 · program services $697,870 · management and general $114,256 · fundraising $128,706

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $6,439,412 · program services $4,776,486 · management and general $782,011 · fundraising $880,915

  • 8 · Pension plan contributions

    total $132,264 · program services $98,108 · management and general $16,062 · fundraising $18,094

  • 9 · Other employee benefits

    total $547,973 · program services $406,463 · management and general $66,547 · fundraising $74,963

  • 10 · Payroll taxes

    total $549,062 · program services $407,271 · management and general $66,679 · fundraising $75,112

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $208,915 · management and general $208,915

  • 11c · Fees: accounting

    total $111,004 · management and general $111,004

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,282,325 · program services $773,338 · management and general $114,618 · fundraising $394,369

  • 12 · Advertising and promotion

    total $47,309 · program services $35,650 · management and general $5,686 · fundraising $5,973

  • 13 · Office expenses

    total $121,607 · program services $58,700 · management and general $49,043 · fundraising $13,864

  • 14 · Information technology

    total $229,783 · program services $183,827 · management and general $22,978 · fundraising $22,978

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $639,413 · program services $382,172 · management and general $203,705 · fundraising $53,536

  • 17 · Travel

    total $363,446 · program services $249,974 · management and general $95,403 · fundraising $18,069

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $210,564 · program services $45,092 · management and general $5,923 · fundraising $159,549

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $17,781 · management and general $17,781

  • 23 · Insurance

    total $158,379 · program services $126,703 · management and general $15,838 · fundraising $15,838

  • 24a · Other expenses: STUDENTS' EXPENSES

    total $904,697 · program services $904,697 · management and general $0 · fundraising $0

  • 24b · Other expenses: PUBLICATIONS & SUBSCRIPTIONS

    total $263,770 · program services $253,617 · management and general $795 · fundraising $9,358

  • 24c · Other expenses: TEACHERS' EXPENSES

    total $236,967 · program services $236,967 · management and general $0

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

    total $33,090 · program services $392 · management and general $32,698

  • 24e · All other expenses

    total $84,234 · program services $45,299 · management and general $36,660 · fundraising $2,275

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,579,694 · end of year $1,831,744

  • 2 · Savings and temporary cash investments

    beginning of year $3,416,336 · end of year $4,044,078

  • 3 · Pledges and grants receivable

    beginning of year $350,140 · end of year $6,126,334

  • 4 · Accounts receivable

    beginning of year $3,098,609 · end of year $563,160

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $21,781 · end of year $1,512

  • 9 · Prepaid expenses and deferred charges

    beginning of year $393,765 · end of year $274,193

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

    $2,815,314

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

    $2,805,803

  • 10c · Land, buildings and equipment, net

    beginning of year $27,292 · end of year $9,511

  • 11 · Investments: publicly traded securities

    beginning of year $2,684,275 · end of year $29,492

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $949,254 · end of year $438,164

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,305,841 · end of year $1,742,762

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,076,125 · end of year $518,923

  • 27 · Net assets without donor restrictions

    beginning of year $6,026,680 · end of year $8,141,996

  • 28 · Net assets with donor restrictions

    beginning of year $4,112,500 · end of year $2,914,507

Mission and programs · 2023

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 140,380 CLASSROOM HOURS THAT THE ORGANIZATION TAUGHT BY VOLUNTEER TEACHERS HAVING AN ESTIMATED VALUE OF $7,421,810.

    Expenses $9,992,297 · Grants $309,671 · Revenue $2,277,904

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

Listed in Part VII

  • DR JEAN-DANIEL LAROCK

    CEO/PRESIDENT

    Total calculated
    $597,866
    From this org
    $540,360
    From related orgs
    $0
    Other
    $57,506
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $430,000
    Bonus
    $110,000
    Other
    $360
    Deferred
    $33,269
    Nontaxable benefits
    $24,237
    Filer's total
    $597,866

  • MARY RADFORD

    CHIEF FIN. & ADMIN. OFFICER

    Total calculated
    $291,083
    From this org
    $277,445
    From related orgs
    $0
    Other
    $13,638
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $230,893
    Bonus
    $46,000
    Other
    $552
    Deferred
    $8,439
    Nontaxable benefits
    $5,199
    Filer's total
    $291,083

  • JANE WALSH

    EVP, CHIEF ADVANCE. OFFICER

    Total calculated
    $254,594
    From this org
    $245,167
    From related orgs
    $0
    Other
    $9,427
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $204,615
    Bonus
    $40,000
    Other
    $552
    Deferred
    $7,339
    Nontaxable benefits
    $2,088
    Filer's total
    $254,594

  • JEANNINE SCHLOSS

    CHIEF PROGRAM OFFICER

    Total calculated
    $198,265
    From this org
    $178,333
    From related orgs
    $0
    Other
    $19,932
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $168,473
    Bonus
    $9,500
    Other
    $360
    Deferred
    $5,481
    Nontaxable benefits
    $14,451
    Filer's total
    $198,265

  • JASON DELGATTO

    VP CURRICULUM & RESEARCH

    Total calculated
    $162,750
    From this org
    $143,383
    From related orgs
    $0
    Other
    $19,367
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,893
    Bonus
    $7,250
    Other
    $240
    Deferred
    $3,045
    Nontaxable benefits
    $16,322
    Filer's total
    $162,750

  • SCOTT NASATIR

    EXECUTIVE DIRECTOR - MIDWEST

    Total calculated
    $145,259
    From this org
    $131,816
    From related orgs
    $0
    Other
    $13,443
    Hours/week
    50

  • JACQUES BRIGNOLLE

    PROGRAM DIRECTOR, SOUTHEAST

    Total calculated
    $134,600
    From this org
    $113,971
    From related orgs
    $0
    Other
    $20,629
    Hours/week
    50

  • MICHAEL J KASCMAR

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • KYLE GARMAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • PATRICIA ALPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JEAN EDDY

    DIRECTOR, AS OF 12/5/23

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • TONY FRAZIER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LAWRENCE GENNARI

    DIRECTOR, AS OF 12/5/23

    Total calculated
    $0
    Hours/week
    2

  • PAM HABNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHUCK JACOBSON

    DIRECTOR, AS OF 12/5/23

    Total calculated
    $0
    Hours/week
    2

  • ALEXIS JEFFRIES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KENNETH JONES

    DIRECTOR, AS OF 12/5/23

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • SANDRA ROSA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LATOYA ROWELL

    DIRECTOR, AS OF 4/12/24

    Total calculated
    $0
    Hours/week
    2

  • ANTHONY SALCITO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CARLA THOMPSON PAYTON

    DIRECTOR, AS OF 12/5/23

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • DAVID WELLISCH

    DIRECTOR, AS OF 10/15/23

    Total calculated
    $0
    Hours/week
    2

  • TUCKER YORK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7:
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
2023
Filed
25 April 2025
IRS schema version
2023v6.0
Source object
202531159349302108

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