Entrepreneurship Education Consortium Inc

Nonprofit profile at a glance

EIN
510625578
IRS 990 coverage
2022–2023
Forms available
Form 990 2023, Form 990-EZ 2021
Location
Cleveland, OH, USA
Phone
2168759715
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$113,001
Expenses
$373,479
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • COLETTE HART (PRESIDENT)
  • DEBORAH HOOVER (CEO)

People named in this filing

  • PETER APICELLA (DIRECTOR)
  • SAM BRENNER (DIRECTOR)
  • ALYSHA ELLIS (DIRECTOR)

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

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To cultivate an entrepreneurial mindset, create practical experiences, and connect students to opportunities that advance them personally and professionally.

What it reported doing in 2023

Entrepreneurship education consortium (eec) is the connective tissue for the region's rich collegiate entrepreneurship assets, attracting students to northeast Ohio and keeping them here by providing seamless access to the best opportunities to develop their entrepreneurial mindset and launch ventures. Eec is a membership-based network of thirteen higher education institutions in northeast Ohio that pool resources to provide inter-campus entrepreneurship programs to college students. Eec has been successfully implementing hands-on extracurricular entrepreneurship programs and educational sessions for more than a decade. Current educational programming includes tech side hustle, tech internships, micro-credential opportunities, faculty peer-to-peer learning, and the annual idealabs competition. The organization is pursuing a strategy intended to serve the talent needs of both the startup and business communities by creating a pipeline of graduates steeped in the entrepreneurial mindset. Eec is dedicated to becoming a key contributor to northeast Ohio's talent pipeline, helping diverse students gain technical and work experience that will position them to become innovators and entrepreneurial thinkers for new and growing ventures. Eec's work is made possible through the vision and initiative of the eec team, financial support from the community, and the strategic partnerships the organization is building across the northeast Ohio region.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 9
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: $16.26 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -230.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 118.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $330K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.