Share |

Enterprise Development Trust Corp.

 385 Dudley Street
 Roxbury, MA 02119
[P] (617) 6995229
[F] --
http://enterpriseincubators.org
[email protected]
-- --
INCORPORATED: 1997
 Printable Profile (Summary / Full)
EIN 04-3309725

LAST UPDATED: 08/12/2013
Organization DBA Independent PROS
MC4MB- Management Consulting for Microbusinesses
Enterprise Development Solutions
Homes that Change Lives
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

--

Mission StatementMORE »

The EDTC mission is foster community economic development through programming to train entrepreneurs and professionals to build local small businesses in their own marginalized communities. Fulfilling on this mission therefore produces economic self-sufficiency for individuals and community "buy-in" for local small business owners as it simultaneously supports small business growth and job creation. In order to deliver on this mission, we execute the following goals: 
-To build successful small business enterprises that are self-sustaining, are able to employ others, build capacity and exploit economies of scale without taking out a loan that is more than 20% of their monthly cash flow.
-To train people in search of job to career pathways in the skills needed to support small business development, and provide technical services in their communities.
-To support the initiatives of community–based organizations and institutions dedicated to economic development through workforce training and small business growth. 
 

Mission Statement

The EDTC mission is foster community economic development through programming to train entrepreneurs and professionals to build local small businesses in their own marginalized communities. Fulfilling on this mission therefore produces economic self-sufficiency for individuals and community "buy-in" for local small business owners as it simultaneously supports small business growth and job creation. In order to deliver on this mission, we execute the following goals: 
-To build successful small business enterprises that are self-sustaining, are able to employ others, build capacity and exploit economies of scale without taking out a loan that is more than 20% of their monthly cash flow.
-To train people in search of job to career pathways in the skills needed to support small business development, and provide technical services in their communities.
-To support the initiatives of community–based organizations and institutions dedicated to economic development through workforce training and small business growth. 
 

FinancialsMORE »

Fiscal Year Jan 01, 2012 to Dec 31, 2012
Projected Income $2,500.00
Projected Expense $120,000.00

ProgramsMORE »

  • Small Business Service Management

Revenue vs. Expense ($000s)

Expense Breakdown 2011 (%)

Expense Breakdown 2011 (%)

Expense Breakdown (%)

No data available

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

The EDTC mission is foster community economic development through programming to train entrepreneurs and professionals to build local small businesses in their own marginalized communities. Fulfilling on this mission therefore produces economic self-sufficiency for individuals and community "buy-in" for local small business owners as it simultaneously supports small business growth and job creation. In order to deliver on this mission, we execute the following goals: 
-To build successful small business enterprises that are self-sustaining, are able to employ others, build capacity and exploit economies of scale without taking out a loan that is more than 20% of their monthly cash flow.
-To train people in search of job to career pathways in the skills needed to support small business development, and provide technical services in their communities.
-To support the initiatives of community–based organizations and institutions dedicated to economic development through workforce training and small business growth. 
 

Background Statement

     Enterprise Development Trust Corp. (EDTC) was founded on December 19, 2009, by a small business development and technical services consultant, an economic development expert and an educator.  Each of the founders had over 10 years experience, backgrounds in adult education and a passion to make an economic difference in communities. Our goal is to achieve economic development and self-sufficiency in disadvantaged communities one individual, neighborhood and region at a time.  We have rounded out our board with an accountant and auditor. We are currently recruiting a lawyer, an entrepreneur and a management professional and are accepting inquiries for our board.
 
     EDTC is a not for profit organization that is based in Roxbury and Dorchester, MA and operates in Roxbury, Dorchester and Mattapan.  EDTC is seeks to attain economic development and thriving communities by supporting start-ups and small business owner-operators in Dorchester and Mattapan.
 
      As we build local microenterprises into viable small businesses that are positioned to exploit economies of scale, we train dislocated and unemployed professionals in the technical skills needed to support small businesses in their communities.  Unemployed professionals are trained to provide direct solutions to small and micro business enterprise owners. These support services include comprehensive back office support, financial and service management, organizational development, forecasting, planning and marketing.

Impact Statement

Accomplishments:
—Our board and staff members have successfully built over 15 businesses since 2002.  90% of the businesses we have built have increased their gross revenues and the amout of people they employ by 50% to 100%.  We have also trained and placed 80% of all workforce development related candidates successfully.  We anticipate increasing the number of jobs available in the communities that we serve along the Blue Hill Avenue Corridor by 30% in the next three years. 
As nonprofit members of EDTC we have raised over $100,000 in services and in-kind contributions. $1000.00 in cash contributions and a $500.00 grant.
-Leased space
-Bought a curriculum from the recommended to junior colleges by the National Council on Entrepreneurship Education.
-Became an Acton School of Business teacher in training.
 
Goals for the Current Year:
1. Develop training courses and apprenticeship programs in technical services like online marketing, forecasting, organizational development, service management, and planning and developing best practices.
2. Build and expand 5 start-up level micro-businesses.
3. Teach and offer online entrepreneurship support services to the unemployed.
4. Implement our first small business training and development program.
 

Needs Statement

In order to deliver our training and technical services we are seeking donations to cover the following fixed costs:
1. Executive Director (Part-time Salary and Benefits): $45,000
2. 8 computers for training and providing technical services.
3. 5 business support interns and 2 Grant writing interns
4. 5. Up to 5 board members
5. Executive Assistant and Bookkeeper (Part-time Salary and Benefits) $30,000.00

CEO Statement

--

Board Chair Statement

--

Geographic Area Served

City of Boston- South Dorchester
City of Boston- Citywide (please select all areas as well)
City of Boston- Mattapan
--

Organization Categories

  1. Community Improvement, Capacity Building - Small Business Development
  2. Employment - Job Training
  3. Education -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Small Business Service Management

Enterprise Development Trust Corporation seeks to bring economic self-sufficiency to disadvantaged communities one individual and one business at a time.  We, therefore, help start up businesses to form and grow through a  combination of vital services.  We provide, organizational development, coaching, brand management, and service delivery management services to bring our customers vision to life.  We, then, train our customer CEOs to take over and to incorporate the routines, financial parameters, structures and procedures to sustain and build upon their vision.  Our services are subsidized at 90%.
 
It is our belief and intention to impart the principles of economic development on the Roxbury and Dorchester community through programs that teach the core principles, values and practices for building and growing a business. Our dislocated worker consituents also learn these core principles and values through individual career guidance and business related technical skills training.
Budget  $74,417.00
Category  Education, General/Other Vocational Education
Population Served Adolescents Only (13-19 years) Adults Unemployed, Underemployed, Dislocated
Program Short-Term Success 
EDTC will run its first small business management program this summer.  With it we will train 5 mature high school and college students on business planning, branding, forecasting, determining core competencies and customer relationship management respectively.  We also create strategic plans and provide free technnical assistance to 5 neighborhood small businessses.  We will also pilot the curriculum for an appenticeship program that teaches these skills and management assistant support services.  This will help us to launch an apprenticeship program for undergraduate college students and for dislocated or retraining professionals.
Program Long-Term Success 
Ultimately, this program will reduce the number of dislocated workers in Dorchester by 30% and will provide Small Businesses with the skills needed to sustain and eventually grow their businesses even in tough economic times. This program will also guide 98% of  its dislocated worker constituents toward the path theit most stable financial path.
Program Success Monitored By 
The small business management program is successful when the businesses we recruit meet the goals for their requeseted technical service.  Before we begin each servicewe create an action plan includes a projected timeline, budget and task list.  We then track the project for increases in earned revenue, decreases in cost and improvements in management procedures.  It is our goal to help the business owners and the apprentices start successful businesses and meet their potential or create successful businesses that empower local individuals.
Examples of Program Success 
EDTC founder has successful grown small businesses since 2002. An example of one small business is a staffing business in Baltimore.  EDTC has created a plan and is on target to quadruple its streams of income and exponentially expand the number of those employed within 3 years.

CEO/Executive Director/Board Comments

The biggest challenge facing EDTC is establishing an identity independent of local better funded community development organizations and training programs.  There are no organizations solely focused on economic development through providing apprenticeships that improve small business research and technical services in our primary target area, Dorchester.  However,  heavily funded training programs that offer rudimentary skills in Microsoft Office and internet skills, compete with us for workforce development dollars in small business technical services like branding, financial forecasting, planning and research.

Management


CEO/Executive Director Ms. Hajar Logan
CEO Term Start Dec 2009
CEO Email [email protected]
CEO Experience
Hajar Logan: Ms. Logan has over 10 years of
experience in business planning, marketing and
development, as well as in building administrative
structures and service delivery processes for small
businesses. As the former head of Logan
Communications International, Ms. Logan designed and
implemented marketing, administrative and
management practices for both start-up and existing
businesses. Logan Communications delivered
comprehensive business and marketing plans and
designed all supporting and relevant literature. Ms.
Logan was also known for developing unique and
consistent brands for clients through marketing
communications products that include brochures, logo
and slogan designs, websites, white papers, flyers and
the like. Through Ms. Logan's background in writing
business plans, action and strategic plans and in
reviewing grants, Ms. Logan brought a know-how for
getting funding. Ms. Logan is committed to empowering
underrepresented communities toward
self-sustainability.
Co-CEO --
Co-CEO Term Start June 2012
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
National Council on Economic Education - Affiliate 2012
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

We have collaborative partnerships with ActSeed and the Harvard Business Review Advisory Council.  I am an Ashoka ChangeMaker entrepreneur.  We  currently collaborate with the Career Collaborative and Operation Able, and Florida State University for volunteers..

CEO/Executive Director/Board Comments

--

Foundation Comments

--

Staff Information

Number of Full Time Staff 1
Number of Part Time Staff 2
Number of Volunteers 6
Number of Contract Staff 1
Staff Retention Rate % 90%

Staff Demographics

Ethnicity African American/Black: 2
Asian American/Pacific Islander: 3
Caucasian: 4
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 1
Other (if specified): Middle Eastern
Gender Female: 5
Male: 2
Not Specified 3

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Yes
Years Strategic Plan Considers 5
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Under Development
Nondiscrimination Policy Under Development
Whistle Blower Policy No
Document Destruction Policy No
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit Yes
State Registration Yes

Risk Management Provisions

--

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Quarterly
Senior Management Formal Evaluation and Frequency N/A Quarterly
Non Management Formal Evaluation and Frequency Yes Quarterly

Governance


Board Chair Ms. Hajar Logan
Board Chair Company Affiliation Wait Staffing Unlimited, LLC.
Board Chair Term Dec 2009 - Dec 2014
Board Co-Chair Ms. June Roberts
Board Co-Chair Company Affiliation IMSO Multi-Service Organization
Board Co-Chair Term Dec 2009 - Dec 2012

Board Members

Name Company Affiliations Status
Ms. Maryam AbdulRahim MSA Robert Half Associates Voting
Mr. Khizar Hyatt PhD Healthy Food Stop Voting
Ms. Hajar Logan Hajar Logan Consulting, LLC Voting
Ms. June Roberts PhD Community Volunteer Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 60
Asian American/Pacific Islander: 20
Caucasian: 20
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 3
Male: 2
Not Specified 0

Board Information

Board Term Lengths 1
Board Term Limits 5
Board Meeting Attendance % 75%
Written Board Selection Criteria Under Development
Written Conflict Of Interest Policy Under Development
Percentage of Monetary Contributions 20%
Percentage of In-Kind Contributions 40%
Constituency Includes Client Representation Yes

Standing Committees

    --

CEO/Executive Director/Board Comments

--

Foundation Comments

--

Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2011 (%)

Expense Breakdown 2011 (%)

Expense Breakdown (%)

No data available

Fiscal Year Jan 01, 2012 to Dec 31, 2012
Projected Income $2,500.00
Projected Expense $120,000.00
Form 990s

2010 990

2009 990

2008 990

Audit Documents --
IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2011 2011 --
Total Revenue $11,248 $11,248 --
Total Expenses $6,244 $6,244 --

Prior Three Years Revenue Sources

Fiscal Year 2011 2011 --
Foundation and
Corporation Contributions
-- -- --
Government Contributions $500 $500 --
    Federal -- -- --
    State $500 $500 --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $2,500 $2,500 --
Indirect Public Support -- -- --
Earned Revenue $1,248 $1,248 --
Investment Income, Net of Losses -- -- --
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind $7,000 $7,000 --
Other -- -- --

Prior Three Years Expense Allocations

Fiscal Year 2011 2011 --
Program Expense -- -- --
Administration Expense $6,244 $6,244 --
Fundraising Expense -- -- --
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.80 1.80 --
Program Expense/Total Expenses 0% 0% --
Fundraising Expense/Contributed Revenue 0% 0% --

Prior Three Years Assets and Liabilities

Fiscal Year 2011 2011 --
Total Assets -- -- --
Current Assets -- -- --
Long-Term Liabilities -- -- --
Current Liabilities -- -- --
Total Net Assets -- -- --

Prior Three Years Top Three Funding Sources

Fiscal Year 2011 2011 --
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? Yes
Capital Campaign Purpose EDTC is currently seeking a building in which to make a larger permanent space.
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2011 2011 --
Current Ratio: Current Assets/Current Liabilities -- -- --

Long Term Solvency

Fiscal Year 2011 2011 --
Long-term Liabilities/Total Assets 0% 0% --

CEO/Executive Director/Board Comments

While Enterprise Development Trust Corp. was incorporated in 2009.  We began by raising funds through fees for service that were just enough to cover our costs,   In 2011, we received $78,000.00 in in-kind contributions and over $10,000.00 in services from several generous private funders and nonprofit organizations.  We have used these donations to launch training and small business technical services. 

Foundation Comments

Enterprise Development Trust Corp. is a fiscally sponsored organizations that is sponsored by the Circle of Nations.   As a result, the 990s posted are for the fiscal agent, Circle of Nations and numbers in charts and graphs describe Enterprise Development Trust Corp and are per the organization.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

--

2. What are your strategies for making this happen?

--

3. What are your organization’s capabilities for doing this?

--

4. How will your organization know if you are making progress?

--

5. What have and haven’t you accomplished so far?

--