Lotus Entrepreneurship Institute Inc

Nonprofit profile at a glance

EIN
922233642
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024
Location
Boston, MA, USA
Phone
6179530954
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$57,287
Expenses
$70,124
Assets
$15,554
Liabilities
$27,758

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • ANDREW GOLDBERG (PRESIDENT)

People named in this filing

  • ANDREW GOLDBERG (PRESIDENT)
  • KELLY MITTAL (DIRECTOR)
  • DENIS CHO (SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Elevasian narrows the wealth gap between the most and least affluent asians, which is the widest of any racial group in the united states, by stimulating job creation and wealth generation in low-and moderate-income asian communities.

What it reported doing in 2024

Elevasian serves established and early-stage, revenue-generating, english- speaking asian companies that are seeking increased business knowledge, social capital to grow their businesses, and a supportive community. These business are predominantly located in low-and moderate-income asian communities statewide. Elevasian includes a structured curriculum, one-on- one mentoring, peer-to-peer learning, and the social/emotional support that comes from the sense of belonging to a community of like-minded people. Elevasian provides a safe space for small asian business owners to pivot from working in the business (owner employee mindset)to working on the business (owner strategist).

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up. A relatively small share of total spending goes to programs and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 82
  • Sustainability: 17
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.2%; rating input score 60
  • Program expense ratio: 49.2%; rating input score 49

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -22.4%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 1.78; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 21.4%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -26.5% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -28.1% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 15.3% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 60.2% of revenue deployed · 49.2% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $34K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Program expense ratio scored 49/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.