Entrepreneurial Engagement Ohio

EIN: 371644646 501(c)(3)

Cleveland, OH

Total Revenue
$123,000
Total Expenses
$107,342
Total Assets
$55,519
Net Assets
$55,519
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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
OH
Principal Officer
John M Klipfell
Phone
4408212357
Tax Period
2020-07-01 to 2021-06-30

Entrepreneurial Engagement Ohio, founded in 2011, is a small nonprofit that reported $123K in total revenue in fiscal year 2020. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $107K left a modest 13% surplus.

Mission

The mission of EEO is: 1) to promote student and community awareness as to the challenges and opportunities the changing regional, national and global economies present for the future; and 2) to provide educational instruction, curriculum, research, training, mentoring and other information that helps develop the entrepreneurial, economic, business, and scientific literacy of students and the community.

Program Service Accomplishments

Program 1
Expenses: $73,939 Revenue: $120,000

Statewide Ohio STEM Entrepreneurship and Innovation Programming - In 2012, EEO entered into a collaboration with the Ohio Academy of Science ("OAS") to develop a statewide Ohio Youth STEM...

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Statewide Ohio STEM Entrepreneurship and Innovation Programming - In 2012, EEO entered into a collaboration with the Ohio Academy of Science ("OAS") to develop a statewide Ohio Youth STEM Commercialization and Entrepreneurship program, which later became known as the Believe in Ohio ("BiO") program. The BiO program included many of the program elements that EEO had earlier developed for Northeast Ohio. The BiO program implemented recommendations of the Ohio Board of Regents ("OBOR") to create an innovation pathway between the K-12 education system and the University System of Ohio. The OBOR recommendations included: 1) "today's students should be exposed to an entrepreneurial curriculum, provided with real life experiences and supported in promoting their intellectual ideas; 2) Ohio should "promote" business plan competitions with meaningful preparation awards and follow-up benefits and, 3) Ohio should "offer competitive full and partial tuition 'Entrepreneurship Scholarships" for promising students who plan to study and engage in entrepreneurship, akin to athletic scholarships."During 2013, the State of Ohio provided $5,000,000 in funding that the EEO/OAS collaborative team used to successfully implement the BiO program during the 2014-15, 2015-16, and 2016-17 school years. However, during 2017, due to the state budget shortfalls, funding for the BiO program was discontinued, leaving BiO's 11,000+ student participants and their teachers without a program. During the fiscal and school years ended June 30, 2019, 2018 and 2017, EEO continued to offer programming similar to BiO to a limited number of high schools in Northeast Ohio under the Northeast Ohio Innovates name. During this period, EEO received funding from a number of private funders to continue its programming. Throughout this time period EEO and OAS sought to obtain renewed funding from the State of Ohio that would allow a restored BiO program to operate for the 2019/2020 & 2020/2021 school years.In July 2019, Ohio Governor Mike DeWine signed Ohio's 2020-2021 biennial budget which included a $2,000,000 "appropriation of funds for the Ohio High School STEM Innovation and Ohio College Scholarship Program and directed the Chancellor of the Ohio Department of Higher Education to direct the appropriation to the Ohio Academy of Science, in collaboration with Entrepreneurial Engagement Ohio for the continuing development and implementation of recommendations of the Ohio Board of Regents that seek to create an innovation pathway between Ohio's K-12 education system and Ohio's colleges and universities and post-secondary career centers and vocational schools." With this appropriation, EEO and OAS collaboratively continued development and implementation of the BiO program during the 2019-2020 and 2020-2021 school years, the budget of which provides for the payment of $120,000 in management fees to each of the collaborative partners in each of the fiscal years ending June 30, 2020 and June 30, 2021.As a result of the pandemic related disruption of Ohio's education system during the last two school years, it became necessary to significantly overhaul and enhance the Believe in Ohio curriculum to ensure that it could support teachers and students in any learning environment, whether in-school, remote or on a blended basis. Much of the work required to overhaul and enhance the BiO program was done by EEO.As part of the Believe in Ohio program during the 2020-2021 school year, EEO has not conducted any STEM Entrepreneurship and Innovation Forums due to the ongoing pandemic.

Program 2
Expenses: $13,875

Northeast Ohio In-School Mentoring Programming: During the 2020-2021 school year, EEO provided mentoring support in 10 northeast Ohio high schools that implemented the statewide entrepreneurship and...

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Northeast Ohio In-School Mentoring Programming: During the 2020-2021 school year, EEO provided mentoring support in 10 northeast Ohio high schools that implemented the statewide entrepreneurship and innovation in their high schools. Schools included: Brecksville Broadview Heights HS, Wadsworth HS, Bedford HS, Notre Dame Cathedral Latin HS, Parma Valley Forge HS, Olmsted Falls HS, Parma Normandy HS, Westlake HS, Firestone HS, and Canfield HS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $3,000
Program Service Revenue $120,000
Investment Income $0
Other Revenue $0
TOTAL REVENUE $123,000

Expense Breakdown

Grants Paid $0
Salaries & Benefits $81,600
Fundraising Expenses $0
Program Expenses $87,814
Other Expenses $25,742
TOTAL EXPENSES $107,342

Year-over-Year Comparison

2020 2019 Change
Revenue $123,000 $200,845 -0.4%
Expenses $107,342 $170,612 -0.4%
Net Income $15,658 $30,233 -0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
25

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
5
$61,000
Total Directors
11
$80,615
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dr Julian M Earls President 3.00
Officer Director
$0 $0 $0
Bruce Keller Vice President 1.00
Officer Director
$0 $0 $0
David Schroedel Director 1.00
Officer Director
$0 $0 $0
James Montaquila Secretary 1.00
Officer Director
$6,000 $0 $6,000
John Klipfell III Executive Director 40.00
Officer Director
$55,000 $0 $55,000
James Phipps Director 10.00
Director
$12,000 $0 $12,000
Dr Woodrow Whitlow Director 1.00
Director
$0 $0 $0
Dr Katrina Cornish Director 1.00
Director
$0 $0 $0
Read Wakefield Director 1.00
Director
$0 $0 $0
Dr Brian Davis Director 1.00
Director
$0 $0 $0
Suzanne Dills Treasurer 5.00
Director
$7,615 $0 $7,615
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
2021 $123,000 $107,342 $55,519 $15,658
2020 $200,845 $170,612 $39,861 $30,233
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