Civic Intelligence

Association for Enterprise Opportunity Inc.

990 • Fiscal year 2023 • EIN 36-3834357

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

1310 L Street NW Suite 830Washington, DC 20005

(202) 650-5580

Siviq Scores

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

Liabilities / Assets

78th percentile

0.47x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

0.72x

Higher debt load relative to revenue than 79% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

4th percentile

-104%

Higher net margin than 4% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

90th percentile

$331,499

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

2nd percentile

-39%

Faster asset growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-62%

Faster revenue growth than 4% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Assets

Down

$5,271,289

Down $3,322,971 (-39%) from 2022

Net Assets

Down

$2,802,599

Down $3,573,557 (-56%) from 2022

Liabilities

Up

$2,468,690

Up $250,586 (+11%) from 2022

Revenue

Down

$3,432,739

Down $5,637,890 (-62%) from 2022

Expenses

Down

$7,011,139

Down $2,936,257 (-30%) from 2022

Net Income

Down

-$3,578,400

Down $2,701,633 (-308%) from 2022

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2014: $3,028,554Liabilities 2014: $8,847Net Assets 2014: $3,019,7072014Assets 2015: $3,415,610Liabilities 2015: $790,919Net Assets 2015: $2,624,6912015Assets 2016: $4,382,602Liabilities 2016: $853,515Net Assets 2016: $3,529,0872016Assets 2017: $4,451,872Liabilities 2017: $152,263Net Assets 2017: $4,299,6092017Assets 2018: $3,378,031Liabilities 2018: $197,332Net Assets 2018: $3,180,6992018Assets 2019: $2,842,995Liabilities 2019: $506,022Net Assets 2019: $2,336,9732019Assets 2020: $18,525,328Liabilities 2020: $6,481,022Net Assets 2020: $12,044,3062020Assets 2021: $11,965,213Liabilities 2021: $4,708,982Net Assets 2021: $7,256,2312021Assets 2022: $8,594,260Liabilities 2022: $2,218,104Net Assets 2022: $6,376,1562022Assets 2023: $5,271,289Liabilities 2023: $2,468,690Net Assets 2023: $2,802,5992023Assets 2024: $2,915,815Liabilities 2024: $645,803Net Assets 2024: $2,270,0122024

Highlighted filing

2023

Assets$5,271,289
Liabilities$2,468,690
Net Assets$2,802,599

Operations Trend

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

$20M$10M$0-$10MRevenue 2014: $3,816,752Expenses 2014: $1,334,040Net Income 2014: $2,482,7122014Revenue 2015: $1,513,150Expenses 2015: $1,618,166Net Income 2015: -$105,0162015Revenue 2016: $3,608,487Expenses 2016: $2,912,936Net Income 2016: $695,5512016Revenue 2017: $2,693,317Expenses 2017: $2,163,035Net Income 2017: $530,2822017Revenue 2018: $1,717,867Expenses 2018: $2,836,777Net Income 2018: -$1,118,9102018Revenue 2019: $1,930,559Expenses 2019: $2,774,285Net Income 2019: -$843,7262019Revenue 2020: $14,089,731Expenses 2020: $4,485,298Net Income 2020: $9,604,4332020Revenue 2021: $13,346,284Expenses 2021: $18,136,364Net Income 2021: -$4,790,0802021Revenue 2022: $9,070,629Expenses 2022: $9,947,396Net Income 2022: -$876,7672022Revenue 2023: $3,432,739Expenses 2023: $7,011,139Net Income 2023: -$3,578,4002023Revenue 2024: $2,370,233Expenses 2024: $2,829,553Net Income 2024: -$459,3202024

Highlighted filing

2023

Revenue$3,432,739
Expenses$7,011,139
Net Income-$3,578,400
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.0
Gross Receipts
$4,277,181
Mission and Program Overview

Mission

Aeo is the voice of innovation in microbusiness and microfinance in the united states. Aeo works to change the way that capital and services flow to underserved entrepreneurs so that they can create jobs and opportunities for all.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,143,037$2,825,540▼ $2,317,497
Cash and Non-Interest-Bearing Accounts$1,378,900$1,477,412▲ $98,512
Land, Buildings, and Equipment, Net$1,270,533$702,375▼ $568,158
Pledges and Grants Receivable$705,915$130,000▼ $575,915
Prepaid Expenses and Deferred Charges$18,535$77,447▲ $58,912
Investments Other Securities$30,000$30,000→ $0
Investments in Publicly Traded Securities$8,507$13,450▲ $4,943
Total Assets$8,594,260$5,271,289▼ $3,322,971
Other Assets Total$38,833$15,065▼ $23,768
Liabilities
Deferred Revenue$1,838,898$2,279,924▲ $441,026
Accounts Payable and Accrued Expenses$352,114$179,599▼ $172,515
Other Liabilities$27,092$9,167▼ $17,925
Total Liabilities$2,218,104$2,468,690▲ $250,586
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,265,985$2,292,482▼ $2,973,503
Net Assets With Donor Restrictions$1,110,171$510,117▼ $600,054
Total Net Assets Fund Balance$6,376,156$2,802,599▼ $3,573,557
Total Liabilities and Net Assets / Fund Balance$8,594,260$5,271,289▼ $3,322,971

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$673,005$322,024$995,029
Equipment$29,370$65,417$94,787
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Connie EvansPresident &FT$326,999$4,500$331,499
Connie EvansPresident & CEO-$326,999$4,500$331,499
Brian WilliamsVP, Chief TeFT$162,832$23,479$186,311
Brian WilliamsVP, Chief Technology-$162,832$23,479$186,311
Mabell FernandezInnovation DFT$133,868$32,614$166,482
Mabell FernandezInnovation Director-$133,868$32,614$166,482
Tanya HughesInterim PreFT$108,176$9,591$117,767

Highest Paid Contractors

ContractorServicesLocationCompensation
Abcd CompanyCommunications11140 ROCKVILLE PIKE, SUITE 300, Rockville, MD 20852$1,145,648
Dan StevensConsulting17033 PATTERSON DR, Omaha, NE 68135$247,115
Punch LLCConsulting6 CALLE MARIANO RAMIREZ BEGES APT3B, San Juan, PR 00907$227,529
Kelly PowersConsulting2824 N RACINE, Chicago, IL 60657$225,188
Mauldin JenkinsAccounting200 GALLERIA PARKWAY SUITE 1700, Atlanta, GA 30339$125,047
Revenue and Support

Revenue Composition

Contributions and Grants
$3,967,635
Program Service Revenue
$126,858
Investment Income
$-661,754
Other Revenue
$0
All Other Contributions
$3,468,635
Change in Net Assets
$-3,578,400

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,432,739
Revenue Not Reported on Form 990
$63,281
Total Revenue per Audited Statements
$3,496,020
Total Revenue per Form 990
$3,432,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,603,879
Salaries, Compensation, and Employee Benefits$1,737,885
Grants and Similar Amounts Paid$1,669,375
Total Fundraising Expense$323,364
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,766,049-$92,950$1,858,999
Grants to Domestic Individuals$1,669,375--$1,669,375
Other Salaries and Wages$990,651$101,470$71,654$1,163,775
Current Officers, Directors, Trustees, and Key Employees$261,599$32,700$32,700$326,999
Information Technology$274,794$32,329$16,164$323,287
Travel$216,516$72,172-$288,688
Fees for Services Accounting$185,494--$185,494
Payroll Taxes$96,689$10,360$8,057$115,106
Other Employee Benefits$76,029$8,146$6,336$90,511
Depreciation Depletion$57,528$4,475$1,918$63,921
Pension Plan Contributions$34,855$3,734$2,905$41,494
Occupancy$19,335$1,504$645$21,484
Office Expenses$8,166$11,423$463$20,052
Advertising$10,195$2,913$1,456$14,564
All Other Expenses$3,910$9,852$230$13,992
Other Expenses$1,548$11,429$11,000$11,000
Insurance-$10,074-$10,074
Total Functional Expenses$6,360,062$327,713$323,364$7,011,139

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,069,577
Expenses per Audited Statements$7,011,139
Total Expenses per Form 990$7,011,139
Expenses Not Reported on Form 990$58,438
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Obligation$9,167
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
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 6

Aeo has three levels of membership: 1) standard, 2) core, and 3) premium.aeo membership is available to organizations that provide direct business development services to underserved entrepreneurs or organizations or individuals that support the mission of aeo but do not provide direct business development services to underserved entrepreneurs. Membership dues will be reviewed by the board of directors.

Form 990, Page 6, Part VI, Line 7A

The governance committee solicits nominations for the board of directors from aeo members and nonmembers. Nominations should be received in a timely manner that allows voting to occur within no more than 30 days before the annual meeting of the association. Candidates must be aeo members in good standing at the time of voting. The board of directors consists of no less than eleven and no more than thirty-five members who reflect the geographic, gender, racial, age, and cultural diversity of the membership.

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

The 990 was prepared by an outside accountant. It was reviewed by the president/ceo and cfo before the return was circulated to the board members for final review and before the return was filed electronically.

Form 990, Page 6, Part VI, Line 12C

In adherence to aeo's conflict of interest policy, the board of directors and staff must disclose any conflicts of interest and abstain from voting on any matters for which they have a conflict. The member with a conflict recuses themself from the discussion, and the remaining board members resolve the matter in what is deemed the best interest of aeo.

Form 990, Page 6, Part VI, Line 15A

The executive committee of the board of directors conducts an annual evaluation of the performance of the president/ceo. The recommendations of the executive committee are presented to the full board of directors for approval and adoption.

Form 990, Page 6, Part VI, Line 15B

The president/ceo approves the compensation of all other staff within the total budgeted amount as approved by the board of directors.

Form 990, Page 6, Part VI, Line 19

The organization makes available upon request the following: governing documents conflict of interest policy financial statements

Filing and Contact Details

Filer

Filer Name
Association for Enterprise
EIN
36-3834357
Phone
2026505580
Address
1310 L STREET NW SUITE 830, WASHINGTON, DC 20005

Signing Officer

Name
Joshua Brackett
Title
Treasurer
Phone
2026505580
Signed
2024-11-14

Organization Details

Principal Officer
Tanya Hughes
Formed
1991
Legal Domicile
Dc
Voting Board Members
21
Independent Board Members
21
Employees
19

Preparer

Firm
Altruic Advisors Cpas
Address
417 FOREST AVENUE, PLYMOUTH, MI 48170
Preparer
Ryan N Hagan CPA
Phone
8882985297
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Aeo is the voice of innovation in microbusiness and microfinance in the united states. Aeo works to change the way that capital and services flow to underserved entrepreneurs so that they can create jobs and opportunities for all.

Form 990, Page 2, Part III, Line 4C

Research and insights the organization's research provides timely information on the industry, including analyzing microbusinesses' economic impact and needs. Research produces new insights that can assist with resource allocation for funders, guide advocacy priorities, and offer industry service providers and lenders information that can deepen their impact. The organization's research utilizes data from a variety of sources to provide analyses to illustrate the microbusiness landscape. --- policy and advocacy policy and advocacy efforts focus on the needs of the microbusiness industry in the areas of training and technical assistance, access to markets, credit access, and asset development strategies. The organization advocates for federal programs and policies that invest in microbusinesses and underserved entrepreneurs.

Form 990, Page 2, Part III, Line 4D

Black innovation alliance black innovation alliance is a coalition of like-minded black-led and black-serving companies and organizations working to ensure black ownership is increasing through fair participation in the innovation economy.

Form 990, Part IX, Line 11G

Consulting fees 1,766,049 0 92,950

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT &
IRS990/Form990PartVIISectionAGrp/TitleTxt1INNOVATION D
IRS990/Form990PartVIISectionAGrp/TitleTxt2INTERIM PRE
IRS990/Form990PartVIISectionAGrp/TitleTxt3VP, CHIEF TE
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IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt20MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24MEMBER
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IRS990/MissionDesc0AEO IS THE VOICE OF INNOVATION IN MICROBUSINESS AND MICROFINANCE IN THE UNITED STATES. AEO WORKS TO CHANGE THE WAY THAT CAPITAL AND SERVICES FLOW TO UNDERSERVED ENTREPRENEURS SO THAT THEY CAN CREATE JOBS AND OPPORTUNITIES FOR ALL.
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