BBB Wise Giving Report for
Network for Teaching Entrepreneurship

BBB Wise Giving Report issued March 2012
BBB Wise Giving Report expires March 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Network for Teaching Entrepreneurship
Address: 120 Wall Street, 18th Floor
  New York, NY 10005
Phone: 212-232-3333
800-367-6383
Web Address: www.nfte.com
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1987, New York
Affiliates: NFTE Endowment
Stated Purpose: "to provide programs that inspire young people from low-income communities to stay in school, to recognize business opportunities and to plan for successful futures."

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Evaluation Conclusions

               

Network for Teaching Entrepreneurship (NFTE) meets the 20 Standards for Charity Accountability.
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Programs

               

NFTE achieves its mission by aiming to create engaging, experiential curricula and tools to improve academic, business and life skills; training and supporting teachers and youth professionals; partnering with schools, community based organizations and post secondary institutions; offering volunteers opportunities that connect students to real world experiences; linking the educational and business worlds in the classroom and beyond; providing services to program graduates; demonstrating outcomes of entrepreneurship education through research; and building public awareness to expand entrepreneurship education.

For the fiscal year ended June 30, 2010, NFTE's program expenses were:

  
Local programs 6,166,573
National programs 5,064,762
Partners 1,165,211
Total Program Expenses: $12,396,546
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Governance

               

Chief Executive : Amy Rosen, CEO
Compensation*:
 $337,591

Chair of the Board: Landon Hilliard
Chair's Profession / Business Affiliation: Partner, Brown Brothers Harriman

Board Size: 20

Paid Staff Size: 66

*July 1, 2009 - June 30, 2010 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, telemarketing, special events, print advertisements, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 12% of related contributions. (Related contributions, which totaled $12,010,631, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on NFTE's audited financial statements (combined with related organization) for the fiscal year ended June 30, 2010.

Source of Funds  
Contributions 9,095,318
Teachers' in-kind contributions 1,500,576
Award gala income, net 1,113,371
Contract services 563,186
Net gains on investments 527,742
Material sales 282,941
Government grants 190,499
Training fees 190,397
Interest and dividend income 156,270
Royalty income 124,089
Contributed software 110,867
License fees 108,500
Miscellaneous income 55,889
Total Income $14,019,645


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Uses of Funds as a % of Total Expenses

Programs: 81%  Fund Raising: 9%  Administrative: 10% 

Total income   $14,019,645
  Program expenses $12,396,546
  Fund raising expenses 1,414,222
  Administrative expenses 1,522,433
 
Total expenses   $15,333,201
Expenses in Excess of Income   (1,313,556)
Beginning net assets   14,957,636
Other Changes in Net Assets (101,001)
Ending net assets   13,543,079
Total liabilities   1,729,433
Total assets   $15,272,512

Note1: In the financial section above, "other changes in net assets" refers to a loss of operations of discontinued component.
Note2: According to NFTE, the organization received in-kind contributions in the amount of $1,611,443 including teachers' in-kind contributions ($1,500,576) and software and services ($110,867).

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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