Nonprofit · EIN 20-5282816
CENTER ON BUSINESS AND POVERTY INC
Tax-exempt · FRANKLIN, TN 37064
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $576,208 | $475,110 | $101,098 | $118,811 | $0 | $118,811 |
| December 31, 2023 | 990 | $254,252 | $263,854 | -$9,602 | -$42,287 | -$60,000 | $17,713 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $44,900
- Program service revenue
- $531,308
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $86,924
- Professional fundraising fees
- $0
- Travel
- $25,520
- Program services (functional)
- $355,861
- Management and general (functional)
- $119,249
Balance sheet and other
- Total assets, start of year
- -$42,287
- Total assets, end of year
- $118,811
- Total liabilities, end of year
- $0
- Net assets, end of year
- $118,811
- Net assets without donor restrictions
- $118,811
- Gross receipts
- $576,208
- Employees
- 0
- Volunteers
- 10
- Year formed
- 2006
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Shelley Hoffmire | Secretary Trustee or director, Officer | 20 | $50,000 | $0 |
| Thomas Harms | Treasurer Trustee or director, Officer | 20 | $20,000 | $10,236 |
| Len Janski | Director Trustee or director, Officer | 20 | $0 | $6,688 |
| John Hoffmire | Chairman Trustee or director, Officer | 30 | $1,504 | $0 |
| Ijeoma Agboti-Obatoyinbo | Director Trustee or director | 0.2 | $0 | $0 |
| Tara Sabre Collier | Director Trustee or director | 0.2 | $0 | $0 |
| Frank Cumberbatch | Director Trustee or director | 0.6 | $0 | $0 |
| Imruwa Demissie | Director Trustee or director | 0.2 | $0 | $0 |
| Isi Gbandi | Director Trustee or director | 0.2 | $0 | $0 |
| Carmen Porco | Director Trustee or director | 0.5 | $0 | $0 |
| Geetha Tharmaratnam | Director Trustee or director | 0.2 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Shelley Hoffmire | Secretary Trustee or director, Officer | 20 | $50,000 | $0 |
| John Hoffmire | Vice Chairman Trustee or director, Officer | 20 | $47,862 | $0 |
| Thomas Harms | Treasurer Trustee or director, Officer | 20 | $0 | $10,236 |
| Len Janski | Chairman Trustee or director, Officer | 20 | $0 | $6,688 |
| Ijeoma AgbotiObatoyinbo | Director Trustee or director | 0.2 | $0 | $0 |
| Tara Sabre Collier | Director Trustee or director | 0.2 | $0 | $0 |
| Frank Cumberbatch | Director Trustee or director | 0.6 | $0 | $0 |
| Imruwa Demissie | Director Trustee or director | 0.2 | $0 | $0 |
| Isi Gbandi | Director Trustee or director | 0.2 | $0 | $0 |
| Carmen Porco | Director Trustee or director | 0.5 | $0 | $0 |
| Geetha Tharmaratnam | Director Trustee or director | 0.2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2118 SOUTHERN PRESERVE LN, FRANKLIN, TN 37064-1647
- In care of
- % THOMAS HARMS
- Principal officer (990 for 2024)
- Thomas Harms, 2118 SOUTHERN PRESERVE LN, FRANKLIN, TN 370641647
- Signed the 990
- Thomas Harms, Treasurer
- Phone
- (401) 524-4093
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 accomplishments
- 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.Expenses $35,586 · revenue $44,900
- 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.Expenses $175,292 · revenue $223,566
- 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.Expenses $144,983 · revenue $307,742
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-5282816
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B60)
- Assets (IRS master file)
- $118,811
- Income (IRS master file)
- $576,208
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $576,208 | $475,110 | $118,811 | XML |
| 990 | December 2023 | $254,252 | $263,854 | -$42,287 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5282816).
Questions about CENTER ON BUSINESS AND POVERTY INC
- What is the EIN of CENTER ON BUSINESS AND POVERTY INC?
- The employer identification number (EIN) of CENTER ON BUSINESS AND POVERTY INC is 20-5282816.
- Is CENTER ON BUSINESS AND POVERTY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to CENTER ON BUSINESS AND POVERTY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CENTER ON BUSINESS AND POVERTY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CENTER ON BUSINESS AND POVERTY INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CENTER ON BUSINESS AND POVERTY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CENTER ON BUSINESS AND POVERTY INC?
- The 990 for the year ended December 31, 2024 names Thomas Harms.
- Who are the officers and directors of CENTER ON BUSINESS AND POVERTY INC?
- The 990 for the year ended December 31, 2024 lists 11 people; 3 received compensation from the organization, the highest $50,000 (Shelley Hoffmire, Secretary).
- How much revenue does CENTER ON BUSINESS AND POVERTY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $576,208, expenses of $475,110 and total assets of $118,811 at year end.
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