Center on Business and Poverty Inc

EIN: 205282816 501(c)(3) Education

FRANKLIN, TN

Total Revenue
$576,208
Total Expenses
$475,110
Total Assets
$118,811
Net Assets
$118,811
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
MI
Phone
4015244093
Tax Period
2024-01-01 to 2024-12-31

Center on Business and Poverty Inc, founded in 2006, is a small nonprofit in the Education sector that reported $576K in total revenue in fiscal year 2024. Revenue surged 127% from the prior year, signaling strong growth momentum. The organization ran a surplus of $101K, a strong 18% operating margin.

Mission

The Center on Business and Povertys mission is to alleviate poverty through: Financial Literacy improving the financial wellness of employees through training programs and the measurement of an individuals financial well-being. Employee Ownership and Participatory Capitalism supporting companies in creating and launching employee ownership. Entrepreneurship and Creating Jobs Working with and training company executives to embrace financial literacy training employee ownership and creating jobs in low-income communities.

Program Service Accomplishments

Program 1
Expenses: $35,586 Revenue: $44,900

Financial Literacy: We have worked with another non-profit organization to develop a financial literacy training program for low-income individuals who will watch animated videos on financial topics...

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Financial Literacy: We have worked with another non-profit organization to develop a financial literacy training program for low-income individuals who will watch animated videos on financial topics and afterwards take a simple eight item survey to measure their learning progress. This program will be made available to employers and organizations that are interested in training their employees or members on ways to improve their financial situation.

Program 2
Expenses: $175,292 Revenue: $223,566

Employee Ownership: We have organized an International Oxford Symposium on Employee Ownership. 2024 was the third year that the symposium has taken place. The aim is to bring together individuals and...

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Employee Ownership: We have organized an International Oxford Symposium on Employee Ownership. 2024 was the third year that the symposium has taken place. The aim is to bring together individuals and organizations active in employee ownership from across the world to share ideas and learning. The number of nations represented was impressive: there were at least 20 countries attending including Australia Japan Denmark Slovenia Canada the UK and the US.

Program 3
Expenses: $144,983 Revenue: $307,742

The Gail Project: We conducted special educational sessions for high-level executives for Gail Limited located in Filmcity Noda Uttar Pradesh 201301 India at Oxford University. Gail is the largest...

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The Gail Project: We conducted special educational sessions for high-level executives for Gail Limited located in Filmcity Noda Uttar Pradesh 201301 India at Oxford University. Gail is the largest home cooking gas supplier in India. We trained them on how to develop solar energy the role of natural gas the advantages of participatory capitalism employee ownership conducting financial literacy training and creating entry level jobs for their low-income population. We also taught them ways to help their population move away from using wood dung and other types of dangerous fuel they may be using to cook with inside their homes. Through this process 610,000 lives are saved as consumers use the gas instead of other dangerous fuel sources.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $44,900
Program Service Revenue $531,308
Investment Income $0
Other Revenue $0
TOTAL REVENUE $576,208

Expense Breakdown

Grants Paid $0
Salaries & Benefits $86,924
Fundraising Expenses $0
Program Expenses $355,861
Other Expenses $388,186
TOTAL EXPENSES $475,110

Year-over-Year Comparison

2024 2023 Change
Revenue $576,208 $254,252 +1.3%
Expenses $475,110 $263,854 +0.8%
Net Income $101,098 $-9,602 -11.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$88,428
Total Directors
11
$88,428
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John Hoffmire Chairman 30.00
Officer Director
$1,504 $0 $1,504
Thomas Harms Treasurer 20.00
Officer Director
$20,000 $10,236 $30,236
Shelley Hoffmire Secretary 20.00
Officer Director
$50,000 $0 $50,000
Len Janski Director 20.00
Officer Director
$0 $6,688 $6,688
Ijeoma Agboti-Obatoyinbo Director 0.20
Director
$0 $0 $0
Tara Sabre Collier Director 0.20
Director
$0 $0 $0
Frank Cumberbatch Director 0.60
Director
$0 $0 $0
Imruwa Demissie Director 0.20
Director
$0 $0 $0
Isi Gbandi Director 0.20
Director
$0 $0 $0
Carmen Porco Director 0.50
Director
$0 $0 $0
Geetha Tharmaratnam Director 0.20
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $576,208 $475,110 $118,811 $101,098
2023 $254,252 $263,854 $-42,287 $-9,602
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