CENTER FOR ENTREPRENEURIAL DEVELOPMENT

EIN: 561399587 501(c)(3) Community Improvement

RESEARCH TRIANGLE PARK, NC

Total Revenue
$1,004,823
Total Expenses
$2,287,915
Total Assets
$2,621,427
Net Assets
$2,382,056
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
NC
Principal Officer
ALEX BLOOM
Phone
9195497500
Tax Period
2024-07-01 to 2025-06-30

CENTER FOR ENTREPRENEURIAL DEVELOPMENT, founded in 1984, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $2.3M exceeded revenue, resulting in a 128% operating deficit.

Mission

TO CONNECT ENTREPRENEURIAL COMPANIES WITH HIGH-VALUE RESOURECES SUCH AS EDUCATION, MENTORING AND CAPITAL CONNECTIONS/FORMATION, TO ACCELERATE BUSINESS GROWTH.

Program Service Accomplishments

Program 1
Expenses: $1,497,633 Revenue: $595,057

CED OPERATES ITS NON-PROFIT PROGRAMS ACCORDING TO A STRATEGIC VISION ADOPTED BY THE BOARD OF DIRECTORS.PROGRAMS LIKE GRO INCUBATOR PROVIDE EDUCATION FOR EARLY STAGE COMPANIES AND FOUNDERS. THE...

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CED OPERATES ITS NON-PROFIT PROGRAMS ACCORDING TO A STRATEGIC VISION ADOPTED BY THE BOARD OF DIRECTORS.PROGRAMS LIKE GRO INCUBATOR PROVIDE EDUCATION FOR EARLY STAGE COMPANIES AND FOUNDERS. THE CURRICULUM IS SUPPORTED BY SUCCESSFUL FOUNDERS WHO PROVIDE EXPERTISE AND ADVICE FOR SCALE.VENTURE CONNECT IS ANOTHER PROGRAM THAT ENABLES STARTUP COMPANIES TO CONNECT TO THE RESOURCES THEY NEED TO GROW. THIS IS THE CULMINATION OF YEAR-ROUND PROGRESS ACHIEVED THROUGH SUPPORT/GUIDANCE OFFERED BY CED TEAM DIRECTLY TO STARTUPS.THE ANNUAL CONFERENCE (VENTURE CONNECT) RETURNED TO IN-PERSON FORMAT IN 2022. THE EVENT HOSTS OVER 800 PP AND PROVIDES EDUCATION, CONNECTIONS AND NETWORKING OPPORTUNITIES.CED ENGAGES OVER 400 PARTNERS IN THE BUSINESS COMMUNITY INCLUDING STARTUPS, CORPORATE, INVESTORS, AND OTHER INDIVIDUALS. CED LAUNCHED A SUPPORT ORGANIZATION NETWORK INTENDED TO BRING TOGETHER ENTITIES SUPPORTING ENTREPRENEURS TO FOSTER COLLABORATION ACROSS THE ECOSYSTEM.CED CONTINUES TO MAINTAIN PARTNERSHIPS WITH EDUCATIONAL INSTITUTIONS HELPING TO SUPPORT BUSINESS DEVELOPMENT AND ECONOMIC GROWTH.

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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 $395,694
Program Service Revenue $595,057
Investment Income $14,072
Other Revenue $0
TOTAL REVENUE $1,004,823

Expense Breakdown

Grants Paid $0
Salaries & Benefits $664,023
Fundraising Expenses $143,046
Program Expenses $1,497,633
Other Expenses $1,623,892
TOTAL EXPENSES $2,287,915

Year-over-Year Comparison

2024 2023 Change
Revenue $1,004,823 $1,469,741 -0.3%
Expenses $2,287,915 $1,655,300 +0.4%
Net Income $-1,283,092 $-185,559 +5.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
39
Independent Members
38
Employees
9
Volunteers
148

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
$199,874
Total Directors
39
$199,874
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KELLY ROWELL PRESIDENT & CEO 40.00
Officer Director
$185,400 $14,474 $199,874
WILLIAM SPRUILL CHAIR/EXECUTIVE COMMITTEE 1.00
Officer Director
$0 $0 $0
TIM WILSON SECRETARY/EXEC COMMITTEE 1.00
Officer Director
$0 $0 $0
MICHAEL CROOKE TREASURER/EXEC COMMITTEE 1.00
Officer Director
$0 $0 $0
SUSAN COOK EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
MICHELLE EGGER EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
TIM MCLOUGHLIN EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
GALEN ROBERTSON EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
KARL RECTANUS EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
SCOTT UKNES EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
ELIZABETH KELLY EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
SUSAN WALL EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
ANNALISE PERRY EXECUTIVE COMMITTEE 0.05
Director
$0 $0 $0
SILVIA AGUIRRE DIRECTOR 0.05
Director
$0 $0 $0
NEIL BAGCHI DIRECTOR 0.05
Director
$0 $0 $0
RYAN BETHENCOURT DIRECTOR 0.05
Director
$0 $0 $0
GREGGORY BORDES DIRECTOR 0.05
Director
$0 $0 $0
SCOTT BRYANT DIRECTOR 0.05
Director
$0 $0 $0
TONI BUCCI DIRECTOR 0.05
Director
$0 $0 $0
SHILA BURNEY DIRECTOR 0.05
Director
$0 $0 $0
BARB COURY DIRECTOR 0.05
Director
$0 $0 $0
MATTHEW COOKE DIRECTOR 0.05
Director
$0 $0 $0
DOUG EISNER DIRECTOR 0.05
Director
$0 $0 $0
ANNE ENGLISH DIRECTOR 0.05
Director
$0 $0 $0
TIM FLEISHMAN DIRECTOR 0.05
Director
$0 $0 $0
WADE FULGRUM DIRECTOR 0.05
Director
$0 $0 $0
ALEX GRAY DIRECTOR 0.05
Director
$0 $0 $0
LILYN HESTER DIRECTOR 0.05
Director
$0 $0 $0
MARILIIS HOLM DIRECTOR 0.05
Director
$0 $0 $0
JACKIE MANCINI DIRECTOR 0.05
Director
$0 $0 $0
TRAVIS MILKS DIRECTOR 0.05
Director
$0 $0 $0
KEVIN MOSELY DIRECTOR 0.05
Director
$0 $0 $0
BRADLEY MOORING DIRECTOR 0.05
Director
$0 $0 $0
BRETT NOEL DIRECTOR 0.05
Director
$0 $0 $0
SONNA PATEL-RAMAN DIRECTOR 0.05
Director
$0 $0 $0
CARLOS PIGNATORO DIRECTOR 0.05
Director
$0 $0 $0
MAHATI SRIDHAR DIRECTOR 0.05
Director
$0 $0 $0
MEGANN VAUGHN WATTERS DIRECTOR 0.05
Director
$0 $0 $0
BLAIR WILLETTE DIRECTOR 0.05
Director
$0 $0 $0
HUNTER YOUNG HEAD OF CAPITAL 40.00
Highest
$127,292 $9,557 $136,849
BRENNAN BARBER HEAD OF BUSINESS DVLP 40.00
Highest
$124,913 $9,951 $134,864
JAY BIGLOW HEAD OF ENTREPRENEURSHIP 40.00
Highest
$147,745 $20,203 $167,948
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
2025 $1,004,823 $2,287,915 $2,621,427 $-1,283,092
2024 $1,469,741 $1,655,300 $3,918,556 $-185,559
2023 $4,882,167 $1,256,192 $4,234,725 $3,625,975
2022 $1,072,441 $928,255 $614,318 $144,186
2021 $802,758 $883,161 $598,277 $-80,403
2020 $1,036,965 $1,385,471 $668,600 $-348,506
2019 $1,618,449 $1,685,755 $732,370 $-67,306
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