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← ACADEMY FOR CREATING ENTERPRISE

Form 990 for tax year 2024

Filed by ACADEMY FOR CREATING ENTERPRISE.

Totals

Total revenue
$2,247,896
Total expenses
$2,517,239
Contributions and grants received
$2,140,153
Grants paid
$1,459,875
Program service revenue
$0
Investment income
$107,743
Other revenue
$0
Total assets, end of year
$3,473,829
Total liabilities, end of year
$49,901
Net assets or fund balances, end of year
$3,423,928
Program services expenses (Part IX)
$2,039,821
Management and general expenses
$136,806
Fundraising expenses
$340,612
Program service expenses (Part III)
$2,039,821

Program services were 81.0% 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.

  • 1f · All other contributions, gifts and grants

    $2,140,153

  • 1g · Noncash contributions included above

    $47,528

  • 3 · Investment income

    total $107,743 · excluded $107,743

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $1,459,875 · program services $1,459,875

  • 5 · Compensation of officers, directors and key employees

    total $262,087 · program services $157,253 · management and general $52,417 · fundraising $52,417

  • 7 · Other salaries and wages

    total $380,189 · program services $132,880 · management and general $70,383 · fundraising $176,926

  • 9 · Other employee benefits

    total $23,602 · program services $14,634 · management and general $1,888 · fundraising $7,080

  • 10 · Payroll taxes

    total $51,373 · program services $30,824 · management and general $4,110 · fundraising $16,439

  • 11c · Fees: accounting

    total $15,349 · program services $13,047 · management and general $767 · fundraising $1,535

  • 11g · Fees: other

    total $40,163 · program services $36,533 · management and general $1,281 · fundraising $2,349

  • 12 · Advertising and promotion

    total $43,676 · program services $20,748 · fundraising $22,928

  • 13 · Office expenses

    total $2,198 · program services $1,183 · management and general $304 · fundraising $711

  • 14 · Information technology

    total $73,731 · program services $66,508 · management and general $1,588 · fundraising $5,635

  • 16 · Occupancy

    total $8,400 · program services $4,467 · management and general $1,389 · fundraising $2,544

  • 17 · Travel

    total $111,760 · program services $89,323 · management and general $13 · fundraising $22,424

  • 23 · Insurance

    total $253 · program services $253

  • 24a · Other expenses: Other

    total $38,397 · program services $6,107 · management and general $2,666 · fundraising $29,624

  • 24b · Other expenses: Supplies

    total $6,186 · program services $6,186

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $64,679 · end of year $127,972

  • 2 · Savings and temporary cash investments

    beginning of year $3,092,621 · end of year $2,609,147

  • 3 · Pledges and grants receivable

    beginning of year $594,920 · end of year $734,922

  • 4 · Accounts receivable

    beginning of year $1,074 · end of year $638

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,144 · end of year $1,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $64,167 · end of year $49,901

  • 27 · Net assets without donor restrictions

    beginning of year $3,069,077 · end of year $2,599,599

  • 28 · Net assets with donor restrictions

    beginning of year $624,194 · end of year $824,329

Mission and programs · 2024

Mission

We ignite the entrepreneurial mindset in faith-driven people through training and support to create more abundant lives.

  • Grants were given to international programs who utilized member groups (called "Chapters") to facilitate all activity needed to assist members in their journey to become financially independent. By the end of 2024 a total of 1,109 Chapters were operating with a total training sessions for that year reaching 682 in which 23,190 students were trained. The Chapter trainings and support efforts helped participants form 10,165 new businesses (Income Earning Activities). Program expenditures totaled $2,039,821 ($1,459,876 direct and $579,945 indirect) dollars on Chapter training and support, 81% of our annual budget.SEE SCHEDULE O FOR CONTINUATION OF PROGRAM SERVICE DESCRIPTIONIn 2024, chapter programs operated in the following countries: the Philippines, Mexico, Brazil, Peru, Venezuela, Bolivia, Ecuador, Colombia, Ghana, Nigeria, Argentina, Paraguay, Uruguay, Chile, Guatemala and Honduras.The following numbers represent statistics for the year 2024:- Start Now training sessions held - 652 - Chapter membership - 26,751 - New Income Generating Activities (new small businesses) formed by chapter members in 2024 - 10,165 - The Annual Academy Awards in each Area ($86,788 spent in all areas) celebrates the achievements of members throughout the year

    Expenses $2,039,821 · Grants $1,459,875

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

Listed in Part VII

  • Eric Louden

    Board Chair

    Total calculated
    $0
    Hours/week
    1
  • Lyle Cricket Parry

    Treasurer

    Total calculated
    $0
    Hours/week
    1
  • Joe Jolene Swenson

    Vice Chair

    Total calculated
    $0
    Hours/week
    1
  • Shaun Ritchie

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Brian Louise Murphy

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Stephen W Gibson

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Tanner Milne

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Andrew Barfus

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Carrie Thompsen

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Doug Holmes

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Rich Andrus

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Robert Heyn

    Executive Director

    Total calculated
    $159,315
    From this org
    $157,153
    From related orgs
    $0
    Other
    $2,162
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,153
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $2,162
    Filer's total
    $159,315
  • Cameron Crowther

    Exec Vice President

    Total calculated
    $111,472
    From this org
    $104,934
    From related orgs
    $0
    Other
    $6,538
    Hours/week
    40
  • Curtis Beesley

    Exec VP of Operations

    Total calculated
    $122,735
    From this org
    $118,481
    From related orgs
    $0
    Other
    $4,254
    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. 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 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

Provenance

Return type
form_990
Tax year
2024
Filed
27 March 2025
IRS schema version
2024v5.1
Source object
202541259349300624

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