Elmseed Enterprises Fund Inc

Nonprofit profile at a glance

EIN
061624995
IRS 990-EZ coverage
2010–2014
Forms available
Form 990-EZ 2014
Location
New Haven, CT, USA
Phone
2039031737
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Small Business Development

Reported finances

Revenue
$13,321
Expenses
$20,096
Assets
$76,961
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • David Chi (Chief Executive Officer)

People named in this filing

  • David Chi (Chief Executive Officer)
  • Nicholas Friedlander (Chief Operating Officer)
  • Daniel Bond (Chief Financial Officer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Elmseed Enterprise Fund is a microcredit organization that provides small loans, technical assistance, and a network of peer support to low income entrepreneurs. By helping individuals start or expand their small businesses with others who share their entrepreneurial spirit, we strive to cultivate the social capital of New Haven, lay groundwork for upward social mobility and foster new business communities.

What it reported doing in 2014

Served over 100 clients this fiscal year and disbursed 2 loans to members of the New Haven Community. We ran the Entrepreneurship Development Course in both English and Spanish four times this year.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Sustainability: 44
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -50.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 3.83; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -34.8% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -11.8% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.