Civic Intelligence

Sweat Equity Enterprises Inc

990 • Fiscal year 2011 • EIN 20-3498290

Jan 01, 2011 to Dec 31, 2011 • Filed on Jul 30, 2012

40 West 23rd Street 6th FL10010
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

23rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2011 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

2nd percentile

-59%

Faster asset growth than 2% of similar nonprofits.

2011 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Assets

Down

$115,425

Down $165,383 (-59%) from 2010

Net Assets

Down

$115,425

Down $165,383 (-59%) from 2010

Liabilities

Flat

$0

Flat from 2010

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$732,406

Down $26,606 (-3.5%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2010: $280,808Liabilities 2010: $0Net Assets 2010: $280,8082010Assets 2011: $115,425Liabilities 2011: $0Net Assets 2011: $115,4252011Assets 2012: $26,303Liabilities 2012: $0Net Assets 2012: $26,3032012Assets 2013: $90,865Liabilities 2013: $11,837Net Assets 2013: $79,0282013Assets 2014: $195,908Liabilities 2014: $28,012Net Assets 2014: $167,8962014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015

Highlighted filing

2011

Assets$115,425
Liabilities$0
Net Assets$115,425

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $759,0122010Expenses 2011: $732,4062011Revenue 2012: $138,023Expenses 2012: $227,145Net Income 2012: -$89,1222012Revenue 2013: $371,230Expenses 2013: $330,405Net Income 2013: $40,8252013Revenue 2014: $625,142Expenses 2014: $536,274Net Income 2014: $88,8682014Revenue 2015: $193,350Expenses 2015: $361,244Net Income 2015: -$167,8942015

Highlighted filing

2011

Revenue-
Expenses$732,406
Net Income-
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Jul 30, 2012
Return Version
2011v1.2
Gross Receipts
$567,023
Mission and Program Overview

Mission

Sweat equity education works to address both the growing cost of higher education as well as the current youth unemployment crisis. Sweat equity education provides young adults with one year, full-time, apprenticeships at high growth startups, small businesses, and corporations around the country to prepare them for the workforce and accelerate their career trajectory.

Filing and Contact Details

Filer

EIN
20-3498290
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IRS990ScheduleO/GeneralExplanation/Explanation0SETH GERSZBERG AND MARC ECKO - BUSINESS RELATIONSHIP SETH GERSZBERG AND MARCI TAPPER - BUSINESS RELATIONSHIP MARC ECKO AND MARCI TAPPER - BROTHER/SISTER, BUSINESS RELATIONSHIP
IRS990ScheduleO/GeneralExplanation/Explanation1THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT ON INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT ON INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT ON INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation5MICHAEL SCHREIBMAN - C/O ECKO, 40 WEST 23RD STREET, 3RD FL, NEW YORK, NY 10010.
IRS990ScheduleO/GeneralExplanation/Explanation6NO CHANGE IN THE PROCESS FROM PRIOR YEAR.
IRS990ScheduleO/GeneralExplanation/Explanation7SWEAT EQUITY ENTERPRISE INC., DBA SWEAT EQUITY EDUCATION PUBLIC SUPPORT TEST PART II, LINE 17A: IN 2010 SWEAT EQUITY ENTERPRISE INC. RECEIVES AT LEAST 30% OF ITS TOTAL SUPPORT FROM PUBLIC SOURCES AS SEEN IN THE PUBLIC SUPPORT SCHEDULES FROM PRIOR YEARS, WITH THE EXCEPTION OF A FEW EXTRAORDINARY CONTRIBUTIONS MADE FOR DEVELOPMENT OF TWO MAIN AREAS: 1. IN 2006, 2007,2008 AND 2009 SWEAT EQUITY ENTERPRISE, INC. HELD AN AFTERSCHOOL PROGRAM THAT SERVED UNDERPRIVILEGED HIGH SCHOOL STUDENTS FROM PUBLIC SCHOOLS IN NEW YORK CITY AND FACILITATED CLASSES IN OTHER U.S. CITIES. IN 2010, IT LAUNCHED ON ONLINE EDUCATION PLATFORM AND BECAME A VENDOR OF THE NYC DEPARTMENT OF EDUCATION AND HIRED TO SUPPORT THE USE OF THAT TOOL WITHIN A NYC PUBLIC HIGH SCHOOL SERVING STUDENTS IN AN UNDERSERVED COMMUNITY. 2. DEVELOPMENT OF AN ACCREDITED E-LEARNING JOB-TRAINING PROGRAM TO BE DISTRIBUTED AND IMPLEMENTED IN PUBLIC SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS NATIONWIDE. MANY OF THE LARGE DONATIONS MADE TO SWEAT EQUITY ENTERPRISE INC. ARE FROM CORPORATIONS THAT BELIEVED IN OUR CAUSE OF EMPOWERING STUDENTS TO BE PROACTIVE IN LEARNING NEW SKILLS USING DESIGN AS A TEMPLATE. SWEAT EQUITY ENTERPRISE INC. FUNDRAISES ON A CONTINUOUS BASIS FOR ITS SOURCE OF FUNDING. IT SOLICITS FUNDS BY APPLYING FOR PUBLIC AND PRIVATE GRANTS AS WELL AS DOING DONOR SOLICITATIONS TO INDIVIDUALS WHO HAVE DONATED TO THE ORGANIZATION IN PRIOR YEARS WHILE WORKING TO EXPAND ITS POOL OF DONORS. IN FY2011, SWEAT EQUITY ENTERPRISE INC. APPLIED FOR CONTINUED PUBLIC SUPPORT FROM GOVERNMENT AND FOUNDATIONS INCLUDING: U.S. DEPT. OF EDUCATION TJX FOUNDATION PRUDENTIAL FOUNDATION FRANCES L. AND EDWIN CUMMING MEMORIAL FUND ALTMAN FOUNDATION THE PINKERTON FOUNDATION THE CLARK FOUNDATION THE FORD FOUNDATION MOZILLA FOUNDATION MACARTHUR FOUNDATION GATES FOUNDATION WILLIAM T. GRANT FOUNDATION IRA W. DECAMP FOUNDATION EWING MARION KAUFFMAN FOUNDATION ACCORDING TO THE IRS STATUTE STATING, THE FACT THAT AN ORGANIZATION GENERALLY PROVIDES FACILITIES OR SERVICES DIRECTLY FOR THE BENEFIT OF THE GENERAL PUBLIC ON A CONTINUING BASIS IS EVIDENCE THAT THE ORGANIZATION IS PUBLICLY SUPPORTED. ADDITIONALLY, THE SERVICES PROVIDED BY SWEAT EQUITY ENTERPRISE, INC. FALL UNDER THE CLASSIFICATION "EDUCATIONAL OR RESEARCH INSTITUTION" SINCE IT HAS DEVELOPED AN ACCREDITED E-LEARNING CURRICULUM AND ONLINE TOOL TO BE USED BY COLLEGES AND UNIVERSITIES AND BY MEMBERS OF THE GENERAL PUBLIC, EITHER DIRECTLY OR THROUGH COMMUNITY-BASED ORGANIZATIONS. SWEAT EQUITY ENTERPRISE, INC. HAS DEVELOPED AN EDUCATION MODEL AND PROGRAM, WHICH HAS BEEN USED IN PUBLIC EDUCATION IN NYC AND IN MANY COMMUNITIES THROUGHOUT THE NATION. SWEAT EQUITY ENTERPRISE, INC. HAD A DIRECT SERVICE PROGRAM WHERE STUDENTS IN UNDERSERVED COMMUNITIES LEARNED SKILLS TO HELP THEM ADVANCE IN THEIR STUDIES TO SUPPLEMENT A HIGH SCHOOL CURRICULUM. THESE STUDENTS WERE MEMBERS OF THE ORGANIZATION, WHERE NO DUES WERE REQUIRED TO BE PAID FOR ADMITTANCE. SWEAT EQUITY ENTERPRISE ALSO HAD A REPRESENTATIVE GOVERNING BODY ON THE BOARD OF DIRECTORS. WITH MEMBERS FROM THE PRIVATE AND NON-PROFIT SECTOR IN BOTH FASHION AND EDUCATION, THE BOARD OF DIRECTORS REPRESENTED A LARGE DIVERSE BASE OF EXPERIENCE THAT ENRICHED THE ORGANIZATION'S ABILITY TO CARRY OUT THE MISSION.
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IRS990/TotalFunctionalExpenses/Fundraising089946
IRS990/TotalFunctionalExpenses/ManagementAndGeneral0145828
IRS990/TotalFunctionalExpenses/ProgramServices0496632
IRS990/TotalFunctionalExpenses/Total0732406
IRS990/TotalFundrsngExpCurrentYear089946
IRS990/TotalGrossUBI00
IRS990/TotalLiabilities/BOY00
IRS990/TotalLiabilitiesBOY00
IRS990/TotalLiabilities/EOY00
IRS990/TotalLiabilitiesEOY00
IRS990/TotalLiabNetAssetsFundBalances/BOY0280808
IRS990/TotalLiabNetAssetsFundBalances/EOY0115425
IRS990/TotalNbrEmployees08
IRS990/TotalNbrVolunteers00
IRS990/TotalNetAssetsFundBalances/BOY0280808
IRS990/TotalNetAssetsFundBalances/EOY0115425
IRS990/TotalOtherCompensation00
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceExpense0496632
IRS990/TotalReportableCompFrmRltdOrgs00
IRS990/TotalReportableCompFromOrg0155000
IRS990/TotalRevenueCurrentYear0567023
IRS990/TotalRevenue/ExclusionAmount00
IRS990/TotalRevenuePriorYear0867028
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome00
IRS990/TotalRevenue/TotalRevenueColumn0567023
IRS990/TotalRevenue/UnrelatedBusinessRevenue00
IRS990/TransactionRelatedEntity00
IRS990/TransfersToExemptNonChrtblOrg00
IRS990/Travel/ManagementAndGeneral013967
IRS990/Travel/ProgramServices031175
IRS990/Travel/Total045142
IRS990/TypeOfOrganizationCorporation0X
IRS990/UnrelatedBusinessIncome00
IRS990/UponRequest0X
IRS990/WebSite0N/A
IRS990/WhistleblowerPolicy01
IRS990/YearFormation02005
ReturnHeader/BuildTS02016-02-24 21:20:13Z
ReturnHeader/Filer/EIN0203498290
ReturnHeader/Filer/Name/BusinessNameLine10SWEAT EQUITY ENTERPRISES INC
ReturnHeader/Filer/NameControl0SWEA
ReturnHeader/Filer/Phone09172621155
ReturnHeader/Filer/USAddress/AddressLine1040 WEST 23RD STREET 6TH FL
ReturnHeader/Filer/USAddress/City0NEW YORK
ReturnHeader/Filer/USAddress/State0NY
ReturnHeader/Filer/USAddress/ZIPCode010010
ReturnHeader/Officer/AuthorizeThirdParty01
ReturnHeader/Officer/DateSigned02012-07-30
ReturnHeader/Officer/Name0MICHAEL SCHREIBMAN

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