Civic Intelligence

Emerging Enterprise Center Inc.

990 • Fiscal year 2015 • EIN 27-3709704

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 26, 2016

12 Penns WayNew Castle, DE 19720

(302) 737-4343

Siviq Scores

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

Liabilities / Assets

57th percentile

0.08x

Higher debt load relative to assets than 57% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

54th percentile

0.05x

Higher debt load relative to revenue than 54% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

94th percentile

61%

Higher net margin than 94% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

96th percentile

$206,732

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 31.8% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

98th percentile

389%

Faster asset growth than 98% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

94th percentile

119%

Faster revenue growth than 94% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Up

$453,999

Up $453,049 (+47689%) from 2013

Net Assets

Up

$419,285

Up $418,335 (+44035%) from 2013

Liabilities

$34,714

No earlier filing loaded for comparison.

Revenue

Up

$649,823

Up $648,823 (+64882%) from 2013

Expenses

Up

$252,998

Up $252,948 (+505896%) from 2013

Net Income

Up

$396,825

Up $395,875 (+41671%) from 2013

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2013: $950Net Assets 2013: $9502013Assets 2015: $453,999Liabilities 2015: $34,714Net Assets 2015: $419,2852015Assets 2016: $225,649Liabilities 2016: $15,453Net Assets 2016: $210,1962016Assets 2017: $290,307Liabilities 2017: $110,867Net Assets 2017: $179,4402017Assets 2018: $467,276Liabilities 2018: $136,175Net Assets 2018: $331,1012018Assets 2019: $444,786Liabilities 2019: $130,970Net Assets 2019: $313,8162019Assets 2020: $577,007Liabilities 2020: $261,002Net Assets 2020: $316,0052020Assets 2021: $582,021Liabilities 2021: $227,895Net Assets 2021: $354,1262021Assets 2022: $1,965,516Liabilities 2022: $1,288,377Net Assets 2022: $677,1392022Assets 2024: $1,454,874Liabilities 2024: $749,067Net Assets 2024: $705,8072024

Highlighted filing

2015

Assets$453,999
Liabilities$34,714
Net Assets$419,285

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2013: $1,000Expenses 2013: $50Net Income 2013: $9502013Revenue 2015: $649,823Expenses 2015: $252,998Net Income 2015: $396,8252015Revenue 2016: $98,491Expenses 2016: $307,580Net Income 2016: -$209,0892016Revenue 2017: $302,194Expenses 2017: $332,950Net Income 2017: -$30,7562017Revenue 2018: $751,880Expenses 2018: $600,220Net Income 2018: $151,6602018Revenue 2019: $449,381Expenses 2019: $466,666Net Income 2019: -$17,2852019Revenue 2020: $445,158Expenses 2020: $442,969Net Income 2020: $2,1892020Revenue 2021: $487,502Expenses 2021: $449,381Net Income 2021: $38,1212021Revenue 2022: $780,144Expenses 2022: $457,131Net Income 2022: $323,0132022Revenue 2024: $498,769Expenses 2024: $486,753Net Income 2024: $12,0162024

Highlighted filing

2015

Revenue$649,823
Expenses$252,998
Net Income$396,825
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 26, 2016
Return Version
2015v2.1
Gross Receipts
$649,823
Mission and Program Overview

Mission

To enhance the chances for success of persons starting new businesses, by facilitating the education and business skill development, through a comprehensive program of support, advice and access, so that they can graduate with a sustainable business model which will enable them to substantially contribute to the social mission of improving the overall economic health of the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$71,484$274,457▲ $202,973
Cash and Non-Interest-Bearing Accounts$20,906$178,286▲ $157,380
Prepaid Expenses and Deferred Charges$463$1,256▲ $793
Total Assets$92,853$453,999▲ $361,146
Liabilities
Accounts Payable and Accrued Expenses$69,893$34,169▼ $35,724
Deferred Revenue$500$545▲ $45
Total Liabilities$70,393$34,714▼ $35,679
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$225,000-
Unrestricted Net Assets$22,460$194,285▲ $171,825
Total Net Assets Fund Balance$22,460$419,285▲ $396,825
Total Liabilities and Net Assets / Fund Balance$92,853$453,999▲ $361,146
Compensation and Service Providers

Employees

NameTitleOtherTotal
Bob ChadwickVice Preside$104,480$104,480
TERRI O'NEALTreasurer$80,252$80,252

Board Members and Trustees

NameTitle
Mark KleinschmidtPresident
Jeff TuriDirector
Pamela ScottDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$594,199
Program Service Revenue
$55,624
Investment Income
$0
Other Revenue
$0
All Other Contributions
$594,199
Change in Net Assets
$396,825

Audited Revenue Reconciliation

Revenue per Audited Statements
$649,823
Total Revenue per Audited Statements
$649,823
Total Revenue per Form 990
$649,823
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$242,754
Total Fundraising Expense$18,254
Salaries, Compensation, and Employee Benefits$10,244
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$37,550$14,442$5,777$57,769
Other Salaries and Wages$5,912$2,274$910$9,096
Other Expenses$3,679$1,415$566$5,660
Advertising$3,109$1,196$478$4,783
All Other Expenses$2,217$853$342$3,412
Travel$853$328$131$1,312
Payroll Taxes$451$173$69$693
Other Employee Benefits$296$114$45$455
Total Functional Expenses$189,100$45,644$18,254$252,998

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$252,998
Total Expenses per Audited Statements$252,998
Total Expenses per Form 990$252,998
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The treasurer reviews the 9990, then submits to the president for review and approval of the 990. Once approved by the president the auditors have permission to file the 990.

Form 990, Page 6, Part VI, Line 19

The organization does not publish its governing documents publicly. However, the organization would allow its members and the public to review certain documents upon written request.

Filing and Contact Details

Filer

Filer Name
Emerging Enterprise Center Inc
EIN
27-3709704
Phone
3027374343
Address
12 PENNS WAY, NEW CASTLE, DE 19720

Signing Officer

Name
Mark Kleinschmidt
Title
President
Phone
3022942056
Signed
2016-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Kleinschmidt
Formed
2013
Legal Domicile
De
Voting Board Members
5
Independent Board Members
2
Employees
0

Preparer

Firm
Whisman Giordano & Associates LLC
Address
111 CONTINENTAL DR STE 210, NEWARK, DE 19713-4330
Preparer
Joseph a Giordano CPA
Phone
3022660202
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To enhance the chances for success of persons starting new businesses, by facilitating the education and business skill development, through a comprehensive program of support, advice and access, so that they can graduate with a sustainable business model which will enable them to substantially contribute to the social mission of improving the overall economic health of the region.

Financial Statement Notes

Schedule D, Page 3, Part X

Eec is a nonprofit entity that is exempt from federal and state income taxes under the provisions of section 501(c)(3) of the internal revenue code; therefore no provision for income taxes has been made in the financial statements. In addition, the center has been classified as one that is not a private foundation within the meaning of section 509 (a) of the internal revenue code and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi). Although eec is not subject to federal and state income taxes, eec is required to adhere to asc 740, "accounting for income taxes", which applies to all entities including those that are tax exempt under 501(c)(3). Asc 740 clarifies the accounting and reporting for income taxes where interpretation of the tax law may be uncertain. Asc 740 prescribes a comprehensive model for the financial statements recognition, measurement, presentation and disclosure of income tax uncertainties with respect to positions taken or expected to be taken in income tax returns. Management has reviewed its current and past federal income tax positions and has determined, based on clear and unambiguous tax law and regulations, that the tax positions taken are certain and that there is no likelihood that a material tax assessment would be made if the respective government agency examined tax returns subject to audit. Accordingly, no provision for the effects of uncertain tax positions has been recorded. Currently, the december 31, 2013 and 2014 tax years is open and subject to examination by the internal revenue service; however, eec is not currently under audit nor has eec been contacted by this jurisdiction. Any interest and penalties related to income taxes would be in income tax expenses. There are no interest and penalties as of december 31, 2015.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EEC IS A NONPROFIT ENTITY THAT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; THEREFORE NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE CENTER HAS BEEN CLASSIFIED AS ONE THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509 (A) OF THE INTERNAL REVENUE CODE AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). ALTHOUGH EEC IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES, EEC IS REQUIRED TO ADHERE TO ASC 740, "ACCOUNTING FOR INCOME TAXES", WHICH APPLIES TO ALL ENTITIES INCLUDING THOSE THAT ARE TAX EXEMPT UNDER 501(C)(3). ASC 740 CLARIFIES THE ACCOUNTING AND REPORTING FOR INCOME TAXES WHERE INTERPRETATION OF THE TAX LAW MAY BE UNCERTAIN. ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENTS RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF INCOME TAX UNCERTAINTIES WITH RESPECT TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. MANAGEMENT HAS REVIEWED ITS CURRENT AND PAST FEDERAL INCOME TAX POSITIONS AND HAS DETERMINED, BASED ON CLEAR AND UNAMBIGUOUS TAX LAW AND REGULATIONS, THAT THE TAX POSITIONS TAKEN ARE CERTAIN AND THAT THERE IS NO LIKELIHOOD THAT A MATERIAL TAX ASSESSMENT WOULD BE MADE IF THE RESPECTIVE GOVERNMENT AGENCY EXAMINED TAX RETURNS SUBJECT TO AUDIT. ACCORDINGLY, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED. CURRENTLY, THE DECEMBER 31, 2013 AND 2014 TAX YEARS IS OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE; HOWEVER, EEC IS NOT CURRENTLY UNDER AUDIT NOR HAS EEC BEEN CONTACTED BY THIS JURISDICTION. ANY INTEREST AND PENALTIES RELATED TO INCOME TAXES WOULD BE IN INCOME TAX EXPENSES. THERE ARE NO INTEREST AND PENALTIES AS OF DECEMBER 31, 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalRevenuePerForm990Amt0649823
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0151462
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt09138
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt014440
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt01692
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARK KLEINSCHMIDT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0206732
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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ENHANCE THE CHANCES FOR SUCCESS OF PERSONS STARTING NEW BUSINESSES, BY FACILITATING THE EDUCATION AND BUSINESS SKILL DEVELOPMENT, THROUGH A COMPREHENSIVE PROGRAM OF SUPPORT, ADVICE AND ACCESS, SO THAT THEY CAN GRADUATE WITH A SUSTAINABLE BUSINESS MODEL WHICH WILL ENABLE THEM TO SUBSTANTIALLY CONTRIBUTE TO THE SOCIAL MISSION OF IMPROVING THE OVERALL ECONOMIC HEALTH OF THE REGION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER REVIEWS THE 9990, THEN SUBMITS TO THE PRESIDENT FOR REVIEW AND APPROVAL OF THE 990. ONCE APPROVED BY THE PRESIDENT THE AUDITORS HAVE PERMISSION TO FILE THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT PUBLISH ITS GOVERNING DOCUMENTS PUBLICLY. HOWEVER, THE ORGANIZATION WOULD ALLOW ITS MEMBERS AND THE PUBLIC TO REVIEW CERTAIN DOCUMENTS UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0594199
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045644
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0189100
IRS990/TotalFunctionalExpensesGrp/TotalAmt0252998
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt070393
IRS990/TotalLiabilitiesEOYAmt034714
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0419285
IRS990/TotalOtherCompensationAmt027208
IRS990/TotalProgramServiceExpensesAmt0189100
IRS990/TotalProgramServiceRevenueAmt055624
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt055624
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0649823
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt092853
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0453999
IRS990/TotReportableCompRltdOrgAmt0364256
IRS990/TravelGrp/FundraisingAmt0131
IRS990/TravelGrp/ManagementAndGeneralAmt0328
IRS990/TravelGrp/ProgramServicesAmt0853
IRS990/TravelGrp/TotalAmt01312
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt022460
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012 PENNS WAY
IRS990/USAddress/CityNm0NEW CASTLE
IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019720
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0HTTP://WWW.EECINCUBATOR.COM/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK KLEINSCHMIDT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03022942056
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-07-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EMERGING ENTERPRISE CENTER INC
ReturnHeader/Filer/BusinessNameControlTxt0EMER
ReturnHeader/Filer/EIN0273709704
ReturnHeader/Filer/PhoneNum03027374343
ReturnHeader/Filer/USAddress/AddressLine1Txt012 PENNS WAY
ReturnHeader/Filer/USAddress/CityNm0NEW CASTLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019720
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203934956
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WHISMAN GIORDANO & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0111 CONTINENTAL DR STE 210
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEWARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0197134330
ReturnHeader/PreparerPersonGrp/PhoneNum03022660202
ReturnHeader/PreparerPersonGrp/PreparationDt02016-07-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH A GIORDANO CPA
ReturnHeader/ReturnTs02016-07-27T11:47:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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