Overview
What is Eastern Shore Entrepreneurship Center Inc?
Eastern Shore Entrepreneurship Center Inc is a nonprofit organization situated in Easton, Maryland. Their primary mission is to foster an entrepreneurial ecosystem, contributing to the creation of personal wealth and the expansion of community resources and services. To achieve this goal, the center manages a portfolio of loans to small businesses, providing financial assistance at affordable interest rates. This initiative aims to stimulate growth among these businesses. Additionally, the organization offers technical assistance, educational programs, and access to capital services to both individuals and small to mid-sized businesses, further aiding in their development.
Official website here: www.ventureahead.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
The Eastern Shore Entrepreneurship Center Inc has received an 81% rating from Charity Navigator, indicating a reliable level of accountability and financial health. This score is based entirely on its Accountability & Finance metrics, which highlights the organization's strong commitment to transparency and responsible financial management.
Notable strengths include having a fully independent board, efficient program expense ratios, and comprehensive policies for conflict of interest, whistleblower protection, and document retention. The organization has demonstrated effective governance practices, with all board members being independent and regular documentation of board meeting minutes maintained.
Despite these strengths, the overall rating is solely based on financial aspects. While the organization excels in accountability metrics, potential donors may seek additional insights into the impact and effectiveness of its programs, which are not detailed in the rating.
This AI summary has been generated from information found on Charity Navigator.
Is Eastern Shore Entrepreneurship Center Inc legitimate?
Eastern Shore Entrepreneurship Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eastern Shore Entrepreneurship Center Inc 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: $108,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ventureahead.org
What is the mission statement of Eastern Shore Entrepreneurship Center Inc?
The Eastern Shore Entrepreneurship Center Inc's mission is to establish an entrepreneurial environment that leads to personal wealth creation. This, in turn, contributes to the expansion of community resources and services. To achieve this, the center provides technical assistance, education, and access to capital services to individuals and small to mid-sized businesses. They manage a portfolio of loans to small businesses, offering them funds at low-interest rates to stimulate and encourage growth.
Official website here: www.ventureahead.org
Who is the CEO of Eastern Shore Entrepreneurship Center Inc?
Mike Thielke is the Vice President of Eastern Shore Entrepreneurship Center Inc.
Official website here: www.ventureahead.org
What is the revenue of Eastern Shore Entrepreneurship Center Inc?
Eastern Shore Entrepreneurship Center Inc's revenue in 2022 was $608,404.
Official website here: www.ventureahead.org
Who are the executives of Eastern Shore Entrepreneurship Center Inc and what are their salaries?
Here are 10 key members and their salaries:
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- Compensation: $108,000
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Official website here: www.ventureahead.org
Where can I find the form 990 for Eastern Shore Entrepreneurship Center Inc?
Eastern Shore Entrepreneurship Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ventureahead.org
Learn more at the official website: www.ventureahead.org
Mission Statement of Eastern Shore Entrepreneurship Center Inc
Eastern Shore Entrepreneurship Center Inc is dedicated to establishing an entrepreneurial ecosystem that fosters personal wealth creation. This, in turn, contributes to the growth of community resources and services. To achieve this mission, the Center provides technical assistance, education, and access to capital services to individuals and small to mid-size businesses.
In essence, Eastern Shore Entrepreneurship Center Inc serves as a catalyst for business growth. By managing a portfolio of loans to small businesses, totaling approximately $600,000, the Center offers these loans at low interest rates. This financial support encourages and stimulates the growth of these businesses, contributing to the overall health and prosperity of the community. By providing these essential services, Eastern Shore Entrepreneurship Center Inc plays a crucial role in fostering an environment where businesses can thrive and contribute to the community's growth and development.
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Impact
July, 2024
The impact of the Eastern Shore Entrepreneurship Center Inc is evident in the thriving entrepreneurial ecosystem it has cultivated. By providing technical assistance, education, and access to capital services, this organization has empowered individuals and small to mid-size businesses to achieve personal wealth creation. The management of a loan portfolio totaling approximately $600,000 at low interest rates has stimulated growth and encouraged entrepreneurship in the community. Through their efforts, they have contributed to the growth of community resources and services, fostering economic development and supporting local businesses.
This information is meant to be a general summary of Eastern Shore Entrepreneurship Center Inc. 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: $13,527
- Program Service Revenue: $51,156
- Gross Receipts: $608,404
Assets and Liabilities:
- Total Assets: $1,144,981
- Total Liabilities: $1,118,136
- Net Assets: $26,845
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Organization Details
Founding Year
2004
Phone
(410) 770-9330Principal Officer
Mike Thielke
Main Address
8737 BROOKS DRIVE SUITE 101, EASTON, MD, 21601
Website
www.ventureahead.orgNTEE Category
Code: B90 - Education
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