2021-05-12T15:39:10-05:00 2020-06-30 BDO USA LLP 100 PARK AVENUE NEW YORK NY 100175001 990 2019-07-01 133408731 NETWORK FOR TEACHING ENTREPRENEURSHIP % MARY RADFORD NETW 2122323333 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 MARY RADFORD CFO 2122323333 2021-05-10 true Paul Hammerschmidt P01384178 2128858000 2019 2022-09-23 18:48:47Z MARY RADFORD 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 11620194 false X WWW.NFTE.COM X 1986 NY TO PROVIDE EDUCATIONAL PROGRAMS, ACTIVATE ENTREPRENEURIAL MINDSET AND TEACH BUSINESS/ACADEMIC SKILLS TO YOUTH IN UNDER-RESOURCED COMMUNITIES, INCREASING COLLEGE/CAREER READINESS. 14 13 96 2063 0 0 7355860 10204592 1465209 1246332 33388 4771 271354 157020 9125811 11612715 437549 626918 0 0 8025952 6424799 0 0 1543524 5919958 5256473 14383459 12308190 -5257648 -695475 7356678 7973370 1610839 2923006 5745839 5050364 X NETWORK FOR TEACHING ENTREPRENEURSHIP ("NFTE") IS A GLOBAL EDUCATIONAL NONPROFIT THAT PROVIDES HIGH-QUALITY ENTREPRENEURSHIP EDUCATION TO MIDDLE AND HIGH SCHOOL STUDENTS FROM UNDER-RESOURCED COMMUNITIES AS WELL AS ENTREPRENEURSHIP PROGRAMS FOR COLLEGE STUDENTS AND ADULT LEARNERS. SINCE OUR FOUNDING, WE HAVE EDUCATED MORE THAN A MILLION STUDENTS THROUGH IN-SCHOOL, OUT-OF-SCHOOL, COLLEGE, AND SUMMER CAMP PROGRAMS, OFFERED BOTH IN PERSON AND ONLINE. false false 8876713 506718 1246332 STUDENTS IN NFTE PROGRAMS LEARN HOW TO DEVELOP A BUSINESS PLAN AND HOW TO MARKET THEIR BUSINESS CONCEPT. THROUGH THE PROCESS OF CREATING THEIR OWN BUSINESS IDEA, NFTE STUDENTS BUILD BUSINESS AND ACADEMIC SKILLS, ARE INTRODUCED TO NEW CAREER PATHS, AND LEARN ABOUT A WIDE RANGE OF JOBS AND OCCUPATIONS. THEY ALSO DEVELOP THEIR ENTREPRENEURIAL MINDSET. NFTE STUDENTS LEARN TO THINK AND ACT LIKE ENTREPRENEURS, DEMONSTRATING SKILLS SUCH AS INITIATIVE AND SELF-RELIANCE, FLEXIBILITY AND ADAPTABILITY, CRITICAL THINKING AND PROBLEM SOLVING, COMMUNICATION AND COLLABORATION, CREATIVITY AND INNOVATION, OPPORTUNITY RECOGNITION, AND FUTURE ORIENTATION. THE ENTREPRENEURIAL MINDSET, TOGETHER WITH THE SKILLS NFTE TEACHES, PREPARES YOUTH FOR COLLEGE AND CAREER SUCCESS. NFTE PARTNERS WITH SCHOOLS, COMMUNITY GROUPS, AND YOUTH DEVELOPMENT ORGANIZATIONS TO BRING ENTREPRENEURSHIP EDUCATION TO DIVERSE LEARNERS. OUR WORK FOCUSES PRIMARILY ON MIDDLE AND HIGH SCHOOL STUDENTS IN UNDER-RESOURCED COMMUNITIES. WE TARGET PUBLIC SCHOOL DISTRICTS WITH FREE AND REDUCED LUNCH (FRL) ELIGIBILITY RATES OF 50% OR MORE, AND MOST OF OUR PARTNER SCHOOLS HAVE FRL RATES OF 70-80%. THE NFTE MODEL LEVERAGES CLASSROOM TEACHERS TO DELIVER THE NFTE CURRICULUM. THE BENEFIT TO NFTE IS THAT TEACHERS ARE PAID BY THEIR RESPECTIVE SCHOOL DISTRICTS. THE CHALLENGE FOR THE ORGANIZATION'S CONTRIBUTORS AND ASSESSORS IS RECOGNIZING THE ECONOMIC VALUE OF THOSE TEACHERS IS EXCLUDED, IN TAX REPORTING, FROM THE MEASUREMENT OF EXPENDITURES RELATED TO PROGRAM EFFORTS. THE TEACHERS ARE ESSENTIAL TO MEETING THE ORGANIZATIONS MISSION, THUS THE ECONOMIC VALUE ($4 MILLION PLUS) MUST BE FACTORED INTO ANY ASSESSMENT OF THE ORGANIZATION TO HAVE A TRUE COMPARISON WITH OTHER ORGANIZATIONS. DURING THE FY20 PROGRAM YEAR (THE 2019-2020 SCHOOL YEAR): - NFTE SERVED MORE THAN 31,000 MIDDLE AND HIGH SCHOOL STUDENTS ACROSS THE U.S. AND REACHED NEARLY 60,000 ADDITIONAL YOUNG PEOPLE THROUGH ONLINE ENTREPRENEURSHIP AWARENESS EXPERIENCES AND EDUCATIONAL PROGRAMS OFFERED THROUGH PARTNERSHIPS WITH GLOBAL YOUTH DEVELOPMENT ORGANIZATIONS IN CHINA, IRELAND, INDIA, GERMANY, BELGIUM, MEXICO, ISRAEL, AND SINGAPORE. - NFTE TRAINED HUNDREDS OF EDUCATORS TO TEACH NFTE COURSES AND FACILITATE EXPERIENTIAL PROJECT-BASED LEARNING IN THE CLASSROOM. NFTE ORGANIZED PROFESSIONAL LEARNING COMMUNITIES (PLCS) AND OFFERED A VARIETY OF PROFESSIONAL DEVELOPMENT OPPORTUNITIES, INCLUDING WEBINARS, LIVE TRAINING SESSIONS, AND PEER-TO-PEER COACHING. - THOUSANDS OF NFTE'S U.S. STUDENTS PARTICIPATED IN NFTE BUSINESS PLAN AND PITCH COMPETITIONS AT THE LOCAL, REGIONAL AND NATIONAL LEVELS, COMPETING FOR PRIZE MONEY TO LAUNCH BUSINESSES OR FURTHER THEIR EDUCATIONAL GOALS. DURING THE FINAL QUARTER OF FY20, WHEN THE 2019-2020 SCHOOL YEAR WAS PROFOUNDLY DISRUPTED BY COVID, NFTE RESPONDED SWIFTLY TO IMPLEMENT A WHOLLY VIRTUAL COMPETITION MODEL AND CREATE NEW/ALTERNATIVE PROGRAM IMPLEMENTATION APPROACHES, COURSE MODIFICATIONS, TEACHER SUPPORTS, AND EDUCATOR RESOURCES/GUIDES. WE MADE SUBSTANTIAL ADJUSTMENTS TO ASSIST OUR STUDENTS AND TEACHERS AND WE SUPPORTED OUR SCHOOL PARTNERS AS THEY FACED THE CHALLENGES OF A RAPID TRANSITION TO REMOTE LEARNING. 8876713 true true false false false false false false false false true false false false true true false true false false true true false false false false false true true true false false false false false false false true true false false false false true true true false false true 292 0 true 96 true false false false false false false false false false false false false X 14 13 false false false false false false false true true false false true true true true true true true false false AL AK AZ AR CA CT FL GA IL KS KY ME MD MA MI MN MS NH NJ NM NY NC OH OK OR PA RI SC TN VA WA WV WI X X MARY RADFORD 2122323333 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 X James Johnston Sr VP & COO 50.0 0.0 X 235466 0 19289 Shawn Osborne FORMER PRESIDENT & CEO 0.0 0.0 X 177402 0 24951 THEODORE THOMPSON VP engagement & implementation 50.0 0.0 X 163012 0 39019 Paul Dimayuga Director of IT 50.0 0.0 X 144715 0 36360 Jane Walsh VP OF Development 50.0 0.0 X 164200 0 7408 Jason Delgatto Sr. Director Curriculum 50.0 0.0 X 130734 0 32988 Larisa Mueller VP FINANCE (thru 09/19) 50.0 1.0 X 88076 0 25832 DR JEAN-DANIEL LAROCK PRESIDENT AND CEO (eff.09/19) 50.0 1.0 X X 98280 0 10573 Michael Kacsmar Chair (eff. 10/19)/director 2.0 0.0 X X 0 0 0 Peter Boni CHAIR (thru 10/19) 2.0 1.0 X X 0 0 0 Timothy Murphy Co-Vice Chair 2.0 0.0 X X 0 0 0 Tucker York CO-Vice Chair 2.0 1.0 X X 0 0 0 Patricia Alper Director 2.0 0.0 X 0 0 0 David Chubak Director 2.0 0.0 X 0 0 0 Kyle Garman Director 2.0 0.0 X 0 0 0 Noah Hanft Director 2.0 0.0 X 0 0 0 Gus Harris Director 2.0 0.0 X 0 0 0 Kellam Mattie Director (thru 03/20) 2.0 0.0 X 0 0 0 Andrew Oliver Director 2.0 0.0 X 0 0 0 Anthony Salcito Director 2.0 0.0 X 0 0 0 Diana Davis Spencer Director 2.0 0.0 X 0 0 0 David Spreng Director 2.0 1.0 X 0 0 0 Lauren Beitelspacher Director (eff. 04/20) 2.0 0.0 X 0 0 0 Melanie Boulden Director (03/20-06/20) 2.0 0.0 X 0 0 0 Mary Radford eff 0220 CHIEF FINANCIAL OFFICER 50.0 1.0 X 0 0 0 1201885 0 196420 19 true true false A Hundred Years 8605 Santa Monica Blvd PMB 52943 WEST HOLLYWOOD CA 90069 Web Design 309250 Viewcrest Advisors Ltd 42 Glen Street DOVER MA 02030 Recruitment 109863 BDO USA LLP 100 Park Avenue NEW YORK NY 10017 AUDIT & TAX 100056 3 803750 9400842 41564 10204592 CONTRACT SERVICES 900099 1086232 1086232 TRAINING FEES 900099 140100 140100 LICENSE FEES 900099 20000 20000 1246332 4771 4771 0 76780 76780 0 0 0 0 0 0 0 0 0 0 4137 7479 -3342 -3342 MISCELLANEOUS INCOME 900099 83582 83582 83582 11612715 1246332 161791 100000 100000 406718 406718 120200 120200 0 419927 139110 153252 127565 12500 12500 4914094 3527495 721240 665359 101393 75112 13297 12984 540524 390973 75847 73704 436361 308107 66135 62119 0 16500 500 15707 293 113758 8000 105758 0 0 0 1661438 1096726 262464 302248 43741 42436 225 1080 208839 135648 54919 18272 132636 69513 33655 29468 0 813991 517952 238386 57653 375075 302585 16752 55738 0 188829 80533 5201 103095 222 222 0 38694 0 38694 0 140212 97450 22072 20690 TEACHERS EXPENSES 862116 862116 STUDENTS EXPENSES 466393 466393 DUES AND SUBSCRIPTIONS 127591 108308 13272 6011 BAD DEBT EXPENSE 34615 34615 31823 8338 16240 7245 12308190 8876713 1887953 1543524 99943 100195 2781465 4919554 3775640 2603560 301152 106602 0 0 0 0 0 0 28203 27378 189752 105942 2815317 2734681 119330 80636 0 0 0 0 0 0 0 0 61193 29503 7356678 7973370 1197806 1487265 0 0 59113 33500 0 0 0 0 0 0 0 0 0 0 353920 1402241 1610839 2923006 X -2733577 760798 8479416 4289566 5745839 5050364 7356678 7973370 -695475 X false true X true false X 19931505 17735481 8271025 7355860 10204592 63498463 0 0 19931505 17735481 8271025 7355860 10204592 63498463 26707382 36791081 143146 115119 241065 135097 81551 715978 0 82871 25200 72651 109837 83582 374141 64588582 5702873 0.56962 0.52153 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 275394 194758 80636 791844 791844 0 1803119 1803119 0 80636 0 DEFERRED RENT 322541 PAYCHECK PROTECTION PROGRAM LOAN 1079700 1402241 X 16438938 4818744 7479 4826223 11612715 11612715 17134413 4818744 7479 4826223 12308190 12308190 PART X, LINE 2: The Organization follows the provisions of U.S. GAAP, which state that an organization must recognize the tax liability associated with tax positions taken for tax return purposes when it is more likely than not the position will not be sustained upon examination by a taxing authority. The Organization does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The Organization has filed for and received income tax exemptions in the jurisdictions where it is required to do so. Additionally, the Organization has filed IRS Form 990 information returns, as required, and all other applicable returns in jurisdictions where so required. Part XI AND PART XII, LINE 2D: COST OF GOODS SOLD .....$7,479 true East Asia and the Pacific 0 0 Grantmaking 25000 North America 0 0 Grantmaking 78100 Europe (Including Iceland and Greenland) 0 0 Grantmaking 16800 Europe (Including Iceland and Greenland) 0 0 Program Services BUSINESS DEVELOPMENT 60967 Sub-Saharan Africa 0 0 Grantmaking 300 0 0 0 0 181167 181167 North America PROGRAM SUPPORT 77500 Europe (Including Iceland and Greenland) PROGRAM SUPPORT 15000 East Asia and the Pacific PROGRAM SUPPORT 25000 2 1 true false false false false false PART I, LINE 2: ALL POTENTIAL GRANTEE ORGANIZATIONS AND THEIR PROGRAMS ARE ASSESSED BY A NFTE PROGRAM OFFICER WHO DISCUSSES THE PROPOSED WORK WITH THE PROSPECTIVE GRANTEE AND DETERMINES THE ORGANIZATION'S CAPACITY TO UNDERTAKE IT. ALL PROPOSED GRANTS AND WRITTEN SUBMISSIONS BY PROSPECTIVE GRANTEES UNDERGO REVIEW. NFTE ESTABLISHES A RANGE OF GRANT CONDITIONS AS OUTLINED IN LICENSEE AGREEMENT THAT IS SIGNED BY NFTE AND THE LICENSEE (GRANTEE). GRANTEES ARE REQUIRED TO SUBMIT A REPORT THAT IS REVIEWED BY A PROGRAM OFFICER FOR COMPLIANCE WITH THE TERMS OF THE LICENSEE AGREEMENT AND ALL ASSOCIATED GRANTS. NFTE MAINTAINS FINANCIAL RECORDS SUBSTANTIATING GRANT AND ASSISTANCE AMOUNTS. true EverFi Inc 3299 K St NW 4th Fl Washington DC 20007 261818856 N/A 100000 SUPPORT NFTE VENTURE 1 Student-Venture & Other Fund 413 128525 Student-Scholarships 14 46943 Student-Prizes/Awards 195 156200 Teacher Prizes & Awards 155 75050 PART I, LINE 2: BUSINESS PLAN COMPETITION WINNERS RECEIVE SCHOLARSHIPS AS PART OF THEIR PRIZES. THESE PAYMENTS ARE GENERALLY DIRECTED TO ACADEMIC INSTITUTIONS. EVERFI, INC. PRODUCES QUARTERLY UPDATES ON SCHOOL AND NUMBER OF STUDENTS WHERE NFTE VENTURE WAS DELIVERED. X X X false false false false false false false true false Shawn Osborne FORMER PRESIDENT & CEO 151372 0 0 0 26030 0 4975 0 19976 0 202353 0 0 0 James Johnston Sr VP & COO 203486 0 30000 0 1980 0 7134 0 12155 0 254755 0 0 0 THEODORE THOMPSON VP engagement & implementation 162772 0 0 0 240 0 5259 0 33760 0 202031 0 0 0 Paul Dimayuga Director of IT 139741 0 4524 0 450 0 4667 0 31693 0 181075 0 0 0 Jane Walsh VP OF Development 163750 0 0 0 450 0 4913 0 2495 0 171608 0 0 0 Jason Delgatto Sr. Director Curriculum 116768 0 13750 0 216 0 2779 0 30209 0 163722 0 0 0 PART I, LINE 7: DURING CALENDAR YEAR 2019, CERTAIN EMPLOYEES RECEIVED BOARD APPROVED BONUSES BETWEEN 4,000 AND 30,000. 0 ATLAS LEARNING INC former officer (founder), Steve Marriotti OWNS ATLAS LEARNING, INC. 12500 CONSULTING FEE false PART IV: THE FILING ORGANIZATION CONTRACTED WITH ATLAS LEARNING, INC. (EIN 47-5235217) TO PROVIDE CONSULTING SERVICES IN SUPPORT OF NFTE ENTREPRENEURIAL TEACHER CORPS PROJECT. X 3 41564 MARKET QUOTATION false true false PART I, COLUMN (B): THE FILING ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 11B: THE INITIAL DRAFT RETURN IS REVIEWED BY THE CFO AND THE Controller , WHO COMPARE THE RETURN TO THE AUDITED FINANCIAL REPORT. THE RESULTS ARE COMMUNICATED WITH OUR RETURN PREPARERS WHO HAVE A CHANCE TO AGREE WITH OR CLARIFY WHY POSITIONS WERE TAKEN. IF QUESTIONS ARE FORTH COMING THEY ARE RESOLVED AND A FINAL RETURN IS SUBMITTED TO MANAGEMENT AND AUDIT COMMITTEE AS WELL AS THE ENTIRE BOARD, SIGNED BY MANAGEMENT, AND FILED WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C: EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL SIGN A STATEMENT ANNUALLY OR UPON APPOINTMENT WHICH AFFIRMS SUCH PERSON : A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B) HAS READ AND UNDERSTANDS THE POLICY, C) HAS AGREED TO COMPLY WITH THE POLICY, AND D) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINES 15A AND 15B: TYPICALLY, EACH YEAR, EMPLOYEES' BASE SALARIES ARE REVIEWED FOR POSSIBLE SALARY ADJUSTMENTS. THE PERCENTAGE OF THE ADJUSTMENT, IF ANY, IS DEPENDENT ON MANY FACTORS INCLUDING, BUT NOT LIMITED TO, MARKET CONDITIONS, INTERNAL AND EXTERNAL COMPETITIVENESS, PERFORMANCE OF BOTH THE EMPLOYEE AND THE ORGANIZATION, AND HOW LONG THE EMPLOYEE HAS BEEN IN THEIR CURRENT POSITION AND WITH THE COMPANY. THE ORGANIZATION PERIODICALLY ENGAGES AN OUTSIDE COMPENSATION CONSULTANT IN CONJUNCTION WITH THE HR DEPARTMENT TO REVIEW AND COMPARE COMPENSATION ACROSS ALL TITLES, AND TO ESTABLISH SALARY BANDS FOR EACH POSITION. IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ESTABLISHES ANNUAL GOALS AND REVIEWS PERFORMANCE AGAINST THOSE GOALS AND REVIEWS COMPARABLE COMPENSATION FROM OTHER SIMILAR ORGANIZATIONS. THE DECISION IS DOCUMENTED AND FILED IN THE PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON ITS OWN WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. NFTE ENDOWMENT FUND INC 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 270135465 SUPPORT NY 501(C)(3) 12B NFTE true false false true false false false false false false false false true true true true false false false false NFTE ENDOWMENT FUND INC C 803750 COST