Overview
What is Global Entrepreneurship Network?
The Global Entrepreneurship Network (GEN) is a nonprofit organization with a mission to simplify business creation and expansion processes for individuals around the world. With operations in 180 countries, GEN fosters cross-border collaboration between entrepreneurs, researchers, policymakers, and entrepreneurial support organizations. Their primary focus is on removing barriers to entrepreneurship for historically underrepresented communities, including economically disadvantaged areas, LGBTQ+, women, Latino, Black, and veteran communities. GEN offers uncommon access to knowledge, networks, communities, and programs, aimed at fueling healthier start and scale ecosystems and creating more jobs, educating individuals, accelerating innovation, and strengthening economic growth. In response to the global pandemic, GEN partnered with several organizations to distribute nearly 7 million grants to entrepreneurs in need, both domestically and overseas.
Official website here: www.genglobal.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Star rating)
The Global Entrepreneurship Network has received a strong Four-Star rating from Charity Navigator, reflecting excellent accountability and financial health. With a score of 93% for Accountability & Finance, the organization demonstrates robust governance practices, including an entirely independent board and no material diversion of assets. The measures in place, such as a conflict of interest policy and a whistleblower policy, contribute to its transparency.
The organization excels in financial management, with an impressive program expense ratio of 96.66%, indicating that a significant portion of its expenditures is directed towards its programs. Additionally, the fundraising efficiency ratio of $0.00 suggests that the organization is not incurring fundraising costs, which adds to its overall financial strength. The liabilities to assets ratio of 20.70% signals a healthy balance sheet.
However, the working capital ratio of 0.43 years may indicate a need for improved liquidity management, which could be a point of concern for future financial sustainability. Overall, the Global Entrepreneurship Network stands out for its strong governance and commitment to its mission, despite minor limitations regarding liquidity.
This AI summary has been generated from information found on Charity Navigator.
Is Global Entrepreneurship Network legitimate?
Global Entrepreneurship Network is a legitimate nonprofit organization registered as a 501(c)(3) entity. Global Entrepreneurship Network submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $800,674
For more financial information, click here
Official website here: www.genglobal.org
What is the mission statement of Global Entrepreneurship Network?
The Global Entrepreneurship Network operates programs in 180 countries, facilitating simpler business start-up and growth processes for individuals worldwide. By promoting deeper collaboration between entrepreneurs, researchers, policymakers, and entrepreneurial support organizations, GEN fosters the creation of healthier ecosystems that generate jobs, educate individuals, accelerate innovation, and bolster economic growth. GEN offers members uncommon access to valuable knowledge, networks, communities, and programs. A significant focus of GEN's work lies in identifying and eliminating barriers to entrepreneurship faced by historically underrepresented communities, including economically disadvantaged communities, LGBTQ+, women, Latino, Black, and veteran communities. With most net new jobs originating from firms younger than five years old, GEN's efforts contribute to the development of more inclusive and sustainable entrepreneurial ecosystems that can help alleviate economic burdens.
Official website here: www.genglobal.org
Who is the CEO of Global Entrepreneurship Network?
Jonathan Ortmans is the President/Di of Global Entrepreneurship Network.
Official website here: www.genglobal.org
What is the revenue of Global Entrepreneurship Network?
Global Entrepreneurship Network's revenue in 2022 was $12,304,430.
Official website here: www.genglobal.org
Who are the executives of Global Entrepreneurship Network and what are their salaries?
The average compensation at Global Entrepreneurship Network during 2022 was $80,067. There are 10 employees at Global Entrepreneurship Network.
Here are 10 key members and their salaries:
- Compensation: $607,197
- Related: $0
- Other: $9,150
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- Other: $0
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- Other: $0
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- Compensation: $227,256
- Related: $0
- Other: $6,780
Official website here: www.genglobal.org
Where can I find the form 990 for Global Entrepreneurship Network?
Global Entrepreneurship Network's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.genglobal.org
Learn more at the official website: www.genglobal.org
Mission Statement of Global Entrepreneurship Network
The Global Entrepreneurship Network (GEN) operates in 180 countries, spearheading initiatives to simplify the process of starting and expanding businesses for individuals worldwide. By fostering deeper cross-border collaborations between entrepreneurs, researchers, policymakers, and entrepreneurial support organizations, GEN aims to cultivate healthier startup and scale ecosystems. These ecosystems generate more jobs, educate individuals, accelerate innovation, and strengthen economic growth. GEN extends unique access to its members, providing them with the most relevant knowledge, networks, communities, and programs.
One of GEN's primary focuses is on recognizing and eliminating barriers to entrepreneurship faced by historically underrepresented communities, including economically disadvantaged areas, LGBTQ+, women, Latino, Black, and veteran communities. With most net new jobs originating from businesses under five years old, GEN is dedicated to fostering more inclusive and sustainable entrepreneurial ecosystems that can contribute to reducing the burden on societies. By identifying and addressing these barriers, GEN plays a crucial role in empowering entrepreneurs to create thriving businesses and contribute positively to their communities.
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Impact
October, 2024
The Global Entrepreneurship Network (GEN) has made a significant impact by operating programs in 180 countries that facilitate the process of starting and scaling businesses. By focusing on fostering collaboration among entrepreneurs, researchers, policymakers, and entrepreneurial support organizations, GEN fuels healthier ecosystems that promote job creation, education, and innovation.
In response to the challenges posed by the global pandemic, GEN swiftly implemented a Small Business Grant Program. This initiative aimed to provide immediate financial assistance to entrepreneurs affected by business closures. Through strategic partnerships with organizations such as Hello Alice, Antares Capital, and FedEx, GEN successfully distributed nearly $7 million in grants to entrepreneurs in both the United States and international communities.
A key aspect of GEN's mission is to identify and eliminate barriers to entrepreneurship, particularly for historically underrepresented communities. By concentrating efforts on economically disadvantaged groups, LGBTQ+ individuals, women, Latinx, Black, and veterans, GEN strives to create a more inclusive entrepreneurial landscape. This focus is crucial, as research indicates that most new job growth comes from businesses that are less than five years old. Overall, GEN’s work not only strengthens economies but also enhances access to essential resources, knowledge, and networks for aspiring entrepreneurs around the globe.
This information is meant to be a general summary of Global Entrepreneurship Network. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $13,721
- Gross Receipts: $12,304,430
Assets and Liabilities:
- Total Assets: $5,250,351
- Total Liabilities: $1,087,076
- Net Assets: $4,163,275
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Organization Details
Founding Year
2001
Phone
(202) 683-4100Principal Officer
Jonathan Ortmans
Main Address
4527 17TH STREET N, ARLINGTON, VA, 22207
Website
www.genglobal.orgNTEE Category
Code: B99 - Education
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