ENTRENUITY. Turning Students Into Business Leaders With Character. Annual Report

Transcription

1 Turning Students Into Business Leaders With Character 2015 Annual Report

2 Dear Friend, Entrenuity has a rich history of providing direct entrepreneurial training to youth. We ve successfully introduced, trained, mentored and supported over 4,500 students in the area of entrepreneurship education since 1991 at various schools, community organizations, churches and business camps. The 2013 Gallup-Hope Index showed that nonwhite students were significantly more likely to express entrepreneurial intentions compared with white students. Yet, despite higher entrepreneurial energy as youth, research continues to highlight the struggle for minority entrepreneurs to secure capital for their small businesses. Minority youth have less exposure to workforce experience and entrepreneurial education and less access to capital once they transition to business owners. It is increasingly important that entrepreneurs of color, youth and adult, have familiar examples of individuals who operate their own business and lead in the marketplace. In order to make this a reality, Entrenuity is launching three new initiatives, starting in 2016, to enhance our trainings and services and continue to positively impact those we are honored to serve. Starting in 2016 we will launch the Entrenuity 1550 Accelerator, a shared professional space, providing entrepreneurs a physical place from which to operate their business. We are also in the process of launching the Entrenuity Capital Matchmaker Loan Fund designed to provide capital for newly launched and emerging African-American and Hispanic-American businesses. Finally, we seek to train over 500 youth and adults through our direct service outreach programs, as well as, train/resource 100 new Adult Facilitators to provide direct instruction in their respective communities and organizations. Entrenuity is committed to coaching, connecting and providing capital to youth and adult entrepreneurs, to promote tomorrow s successful small business owners. Sincerely, L. Brian Jenkins President

3 OVERVIEW Over the last few years, Entrenuity has intentionally focused less on direct services to youth and more on training those working with youth. With help from the StartingUp Now (SUN) Curriculum, Entrenuity equips these individuals with entrepreneurship training for their communities, schools and churches. By training the trainer, Entrenuity is able to extend it s reach, impacting even more families and communities with entrepreneurship education. As a result Entrenuity has: Trained over 750 youth educators in the U.S. and abroad in the area of experiential entrepreneurship instruction. Trained adult ministry leaders to facilitate entrepreneurship education classes for formerly incarcerated men and women, enabling them to start their own business, become self-sustaining and remain positive contributors to their communities. Held 1-day Exposures, focusing on the ways and means developed to navigate past the idea phase through actual business launch, in a 6-hour workshop. Taught numerous classes using SUN Curriculum at both Moody Bible Institute and North Park University for college credit. Filmed over twenty SUN Talks for the SUN Talks Video Series, which provides further training and support for both youth and adult entrepreneurs.

4 Entrenuity Spotlight ENTREPRENEURS Dream Everyone has a dream. Everyone has ideas. Brian Jenkins, founder and president of Entrenuity Cultivating Aspiration Entrenuity is not just for youth. We work with youth, young adults, older adults and even seniors people with dreams and ideas who want to know how to bring those ideas to fruition. We work with people of the Christian faith and other faiths. We have people with MBAs, people who are employed, people who are underemployed, people who have been incarcerated, and youth who have never been employed but are trying to find the tools to develop and implement a business plan. Entrenuity is committed to equipping youth and adult innovators and entrepreneurs to become the small business owners of tomorrow contributing jobs, ideas and resources that will help grow the economy and strengthen their communities.

5 THE ENTRENUITY DIFFERENCE The majority of African-American nonprofits, including churches, receive funding for operations through federal, state, or municipal funds. As a departure, Entrenuity has consistently secured funding by utilizing for-profit principles since it s launch in This is the key differentiator in an overly populated nonprofit industry. During the economic decline in 2008, a large number of Entrenuity clients experienced dramatic decreases in training funds. In order for Entrenuity to survive and maintain essential program offerings, StartingUp Now, a fee-based curriculum focused on entrepreneurship education, was created. It s purpose to lessen the dependence on Entrenuity s previous revenue sources. Fee-based services account for 65 percent of Entrenuity s revenue, while 35 percent is derived from individual donors and foundations. This path gives entrepreneurs the opportunity to invest in their own education and training while enabling Entrenuity to keep program fees low and within reach. It also allows Entrenuity the freedom to incorporate faith-based values into it s programs, an ideology many funders shy away from. It s safe to say, Entrenuity has had to be truly entrepreneurial with respect to funding. For over 15 years, Entrenuity continues to deliver essential programs and services for primarily African- American and Hispanic-American youth and adults in under-served communities using this funding method. In fact, more nonprofits are shifting to a similar model launching for-profit businesses, or engaging in hybrid activities. Entrenuity persists in strengthening the African-American community by generating the means for entrepreneurship, nationally and globally with this mode of fundraising. Entrenuity Income Sources Since 1999 $841, $1,539, % Earned Program Income $841, % Donations $2,381, % $1,539,778.00

6 Entrenuity Spotlight ENTREPRENEURS Inspire Anyone can be an entrepreneur. Brian Jenkins, Founder and President, Entrenuity Influencing Motivation Troy Rienstra handcrafts beautiful, custom leather briefcases in prison. Using the principles he learned through an Entrenuity workshop, Troy developed a plan for Zaken Leather Works to become a viable business with a social conscience. His vision is for Zaken to employ, educate and economically empower formerly incarcerated individuals. He likes to say they make bags to rebuild lives. Troy believes the best way he can serve his fellow inmates is to show them, by example, that a life of value is still possible and to help them develop skills that will enable them to re-enter society as productive citizens.

7 GIVING OPPORTUNITIES Entrenuity s past accomplishments and future opportunities are made possible through the financial support of investors like you. Your donation will enable Entrenuity to continue it s mission to supply both youth and adults with valuable entrepreneurship training and resources. Please consider investing in one or more of the following opportunities: 1-Day Exposures Train up to 30 youth/adults per exposure to move from the idea phase to launch in a 6-hour workshop. Using SUN Curriculum and the SUN Business Simulation Game, participants will be exposed to the basics of business operation and fundamentals in a very hands-on, experiential workshop. $3,200 pr. Exposure Facilitator Training Train and resource 30 Facilitators to teach week entrepreneurship classes using SUN Curriculum, with the goal of impacting 300+ students in 30 different communities with entrepreneurship fundamentals. $125,000 ($2,000 pr. Facilitator) Entrenuity STEM Summer Business Camp 1-week intensive boot camp for 50 African-American and Latino youth, focused on entrepreneurial opportunities in the Drone industry. $110,000 ($2,200 pr. Student) Entrenuity 1550 Accelerator Shared professional space with access to expert business leaders, classes, seminars and launch events. Seeking to recruit, guide and launch 5-6 Entrepreneurs annually. $25,000 pr. Entrepreneur

8 Entrenuity Spotlight ENTREPRENEURS Lead...in many cases people spend too much energy complaining that the playing field is not completely level instead of spending that energy playing on the field and leveraging the opportunities. Dr. Paul Judge, Chief Research Officer, Barracuda Networks Navigating Racial Barriers Blacks comprise 13.6 percent of the U.S. population, but only earn 9.8 percent of bachelor degrees in computer science (CS), 4.7 percent of CS masters degrees and 1.8 percent of CS doctoral degrees. We must increase black interest in, and pursuit of, CS and other science, technology, engineering and math (STEM) educations. Otherwise the talk about boosting black representation in high tech is pointless. As Peter Drucker once said, The best way to predict the future is to create it.

9 FINANCIALS July 2014 June 2015 OVERVIEW $100K $90K $80K INCOME BREAKDOWN 25% Foundations Private Donors General Operating Support $70K $60K $50K 7% 69% Foundations $ 77,000 Private Donors $ 7,500 General Operating $ 27,500 Support TOTAL INCOME $ 112,000 $40K $30K $20K EXPENSE BREAKDOWN $10K 19% 41% Salaries & Payroll Travel $0 Income Expenses Net Income 11% Programs Professional Fees General Administrative Rent Income $ 105,793 Expense $ 92,289 Net Income $ 13,504 5% 1% Salaries & Payroll $ 37,717 Travel $ 831 Programs $ 21,762 Professional Fees $ 4,475 General Admin. $ 10,224 Rent $ 17,280 TOTAL EXPENSES $ 92,289 24%

10 OUR SUPPORTERS Entrenuity gratefully acknowledges the following individuals and organizations for their significant financial support and commitment to it s mission and vision. Larry & Madelyn Jenkins Walter & Darlene Hansen Soderquist Family Foundation Stephen & Elizabeth Fraser Code Family Foundation

11 ENTREPRENEURS Thank You Thank you for graciously supporting Entrenuity through your prayers and financial gifts. Entrenuity has been blessed with many opportunities and accomplishments in the past and the future looks bright with even more to come. Your ongoing prayers and financial support will make it possible for Entrenuity to coach, connect and capitalize on current and future entrepreneurs. Together, business leaders who impact communities with creativity and integrity will be created. For this, the Entrenuity staff is grateful.

12 1550 S. State Street, Suite 101 Chicago, IL PH: Fax: Entrenuity is a 501(C)3 non-profit organization Entrenuity. All Rights Reserved.