Form 990 for tax year 2024

Filed by ENTREPRENEURSHIP FOUNDATION INC.

Totals

Total revenue: $102,173
Total expenses: $173,819
Contributions and grants received: $101,438
Grants paid: $64,600
Program service revenue: $0
Investment income: $6
Other revenue: $729
Total assets, end of year: $193,831
Total liabilities, end of year: $869
Net assets or fund balances, end of year: $192,962
Program services expenses (Part IX): $113,205
Management and general expenses: $58,614
Fundraising expenses: $2,000
Program service expenses (Part III): $113,205

Program services were 65.1% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$100,938
1f · All other contributions, gifts and grants

$500
1g · Noncash contributions included above

$0
3 · Investment income

total $6 · related or exempt $6 · unrelated business $0 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

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

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $0 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $0 · other assets $0
7b · Less cost or other basis and sales expenses

securities $0 · other assets $0
7c · Gain or loss

securities $0 · other assets $0
7d · Net gain or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
8a · Fundraising events: gross income

$0
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0 · unrelated business $0 · excluded $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$729
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $729 · related or exempt $729 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $16,000 · program services $16,000
2 · Grants to domestic individuals

total $48,600 · program services $48,600
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $55,000 · program services $0 · management and general $53,000 · fundraising $2,000
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $0 · program services $0 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $0 · program services $0 · management and general $0 · fundraising $0
9 · Other employee benefits

total $0 · program services $0 · management and general $0 · fundraising $0
10 · Payroll taxes

total $0 · program services $0 · management and general $0 · fundraising $0
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $0 · program services $0 · management and general $0 · fundraising $0
11c · Fees: accounting

total $0 · program services $0 · management and general $0 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $0 · program services $0 · management and general $0 · fundraising $0
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $39 · program services $0 · management and general $39 · fundraising $0
13 · Office expenses

total $3,805 · program services $0 · management and general $3,805 · fundraising $0
14 · Information technology

total $559 · program services $0 · management and general $559 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $0 · program services $0 · management and general $0 · fundraising $0
17 · Travel

total $0 · program services $0 · management and general $0 · fundraising $0
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $0 · program services $0 · management and general $0 · fundraising $0
20 · Interest

total $0 · program services $0 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $0 · program services $0 · management and general $0 · fundraising $0
23 · Insurance

total $759 · program services $0 · management and general $759 · fundraising $0
24a · Other expenses: BUSINESS PLAN COMPETITIONS

total $3,575 · program services $3,575 · management and general $0 · fundraising $0
24b · Other expenses: ENTREPRENEUR SALES OUTLETS

total $2,641 · program services $2,641 · management and general $0 · fundraising $0
24c · Other expenses: ENTREPRENEURS SOCIETY - Meeting Expenses

total $1,766 · program services $1,766 · management and general $0 · fundraising $0
24d · Other expenses: MANUFACTURING ACCELERATOR (Entrepreneur Tracking SAAS, Maker Space, Black Book)

total $40,623 · program services $40,623 · management and general $0 · fundraising $0
24e · All other expenses

total $452 · program services $0 · management and general $452 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $188,246 · end of year $8,363
2 · Savings and temporary cash investments

beginning of year $55,462 · end of year $185,468
3 · Pledges and grants receivable

beginning of year $25,000 · end of year $0
4 · Accounts receivable

beginning of year $0 · end of year $0
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 $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $0 · end of year $0
10c · Land, buildings and equipment, net

beginning of year $0
11 · Investments: publicly traded securities

beginning of year $0 · end of year $0
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

end of year $0
17 · Accounts payable and accrued expenses

beginning of year $4,100 · end of year $83
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 $786
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 $0
29 · Capital stock, trust principal or current funds

beginning of year $0 · end of year $0
30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $0 · end of year $0
31 · Retained earnings, endowment or other funds

beginning of year $264,608 · end of year $192,962

Mission and programs · 2024

Mission

Our mission is to provide effective resources and support for Educators and Entrepreneurs.

Activities or mission (Part I)

Our mission is to provide effective resources for Educators and Entrepreneurs.

WORKFORCE DEVELOPMENT. Responding to the requests from the regional Chamber of Commerce and with an ARPA grant, the Foundation embarked on a program to support the manufacturing industry in the state of Connecticut that has suffered supply chain interruptions from COVID and a chronic shortage of skilled labor. As a result, we launched a marketing campaign to encourage young people to pursue manufacturing as a business (to expand the existing supply chain) or as a career to bolster HR resources for the companies. Events included career fairs and manufacturing trade shows with young companies and startups as suppliers and established firms as buyers. Additional projects included: 1) Development of a SAAS to track the progress of startup companies and connect them with growth resources. 2) We also brought back the Black Book, a directory of advertising and marketing services to assist companies in meeting growth goals. 3) Installed a Center for Innovation and Entrepreneurship with a maker space, co-working space, business and design computers and printers, and a photo studio in the main branch of the Bridgeport CT Public Library.

Expenses $40,623 · Revenue $100,938
BUSINESS PLAN COMPETITIONS for residents and businesses located in the U.S. through 3 competitions: 1) The REENTRY BUSINESS PLAN COMPETITION FOR PEOPLE IMPACTED BY THE JUSTICE SYSTEM, whereby $18,100 in startup and growth grants were distributed among 16 finalists, chosen from startups and established companies in the greater Bridgeport region. 2) The NEW PRODUCT COMPETITION, that allocated $30,500 in R&D grants among 14 entries. 3) NATIVE AMERICAN BUSINESS PLAN COMPETITION through which $5000 in grants were distributed to members of the Ogalala tribe through the Lakota College system in South Dakota. Additional grants were provided to CEDF, MakeHaven and Lantern Point Labs to support entreprneurship education and to provide access to resources for development of business plans and prototypes for market testing.

Expenses $68,175 · Grants $64,600
ENTREPRENEUR SALES OUTLET. The Entrepreneurship Foundation supports a sales outlet for 25 entrepreneurs to showcase and sell their products. This outlet is a brick and mortar location in downtown Bridgeport. The Foundation also provides and maintains an online store for the same purpose and organizes free pop-ups and booths at farmers markets.

Expenses $2,641
ENTREPRENEURS SOCIETY. A series of educational and networking events for entrepreneurs. Expense shown was for a software platform to track the progress of the young companies, and for meeting supplies, primarily name tags and signage. The Foundation provided mentoring for 40 individual entrepreneurs, and conducted free business training sessions for over 100 more.

Expenses $1,766

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Michael Roer

President

Total calculated

$55,000

From this org

$55,000

From related orgs

$0

Other

$0

Hours/week

20 + 2 related
Cliff Ennico

Corporate Secretary

Total calculated

$0

Hours/week

0.1
Evan Kipperman

Member of Board of Directors

Total calculated

$0

Hours/week

0.1

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.

Provenance

Return type: form_990
Tax year: 2024
Filed: 7 November 2025
IRS schema version: 2024v5.0
Source object: 202543129349300739

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