Opportunity Through Entrepreneurship Foundation
Creating Opportunity - Creating Hope
Opportunity Through Entrepreneurship Foundation
EIN: 20-3779020
as of November 2023
as of November 13, 2023
Mission
OTEF, the Opportunity Through Entrepreneurship Foundation, educates and invests in people and organizations that create hope. OTEF is a grass roots organization that provides entrepreneurial education, mentoring and support to individuals and organizations. Our programs focus in three areas, Small Business Mentoring; Creating Opportunities for Students; and Supporting the Discovery and Development of Health Innovations. We achieve our goals through direct programming, grants, and mission related investments.
Ruling year
2006
Chairman
Joan Koerber-Walker
Executive Director
Francine Hardaway
Main address
14401 S 24TH WAY
PHOENIX, AZ 85048 USA
EIN
20-3779020
Adult education
Community and economic development
Economic development
Business and industry
Population served
Adults
NTEE code
Management & Technical Assistance (S02)
Economic Development (S30)
Business and Industry (S40)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
What we aim to solve
The Opportunity Through Entrepreneurship Foundation (OTEF) has supported Arizona entrepreneurs and at-risk populations since 2005. Beginning in 2019, our AZAdvances program has focused on Arizona's growing entrepreneurial base in the area of health innovation. Our challenge is that Arizona needs to increase its STEM workforce and provide higher levels of entrepreneurial support to our emerging life science companies if our community is to achieve it's goal of doubling impact by 2033.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
OTEF Entrepreneurial Education
OTEF Entrepreneurial Education helps people in at-risk communities become self-sufficient.
D3Bio
D3Bio provides students the opportunity to make connections with industry leaders.
AZAdvances
AZAdvances provides funding and support to life science researchers and entrepreneurs.
Where we work
External reviews
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Total number of conferences held
This metric is no longer tracked.Totals By Year
Related Program
AZAdvances
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Average dollar price of entry to competitions
This metric is no longer tracked.Totals By Year
Related Program
AZAdvances
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Number of clients placed in internships
This metric is no longer tracked.Totals By Year
Related Program
AZAdvances
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Total number of competitions held
This metric is no longer tracked.Totals By Year
Related Program
AZAdvances
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Number of job skills training courses/workshops conducted
This metric is no longer tracked.Totals By Year
Related Program
AZAdvances
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Our goals include:
1) Encourage more students to pursue careers in STEM Fields related to health innovation an assist them on their journey.
2) Support Arizona-based life science entrepreneurs in commercializing life science discoveries that can become health innovations.
3) Provide early-stage, mission related investments that support the commercialization of future health innovations.
What are the organization's key strategies for making this happen?
Goal 3 - Good Health & Well-being - We support Arizona health innovators who are working on vaccines and other treatments that can have a global impact on both disease and on reducing healthcare costs.
Goal 4 - Quality Education - Our AZAdvances Talent program includes paid internship opportunities for students so as they explore future career choices.
Goal 8 - Economic Growth - Our goal is to double the health impact and economic impact of Arizona's health innovation sector by 2033.
Goal 9 - Industry and Innovation Infrastructure -By leveraging the scientific research within our Arizona based universities and institutes, we are supporting the translation of their discoveries into products and services that can impact the lives of people in Arizona and around the world.
What are the organization's capabilities for doing this?
While our organization is small, our partnerships are powerful. Examples include:
1) Resource Support from the Arizona Bioindustry Association (AZBio) and the ability to work with their 280 member companies to build workforce and entrepreneurial solutions.
2) In 2022, OTEF was selected and contracted to be the non profit that will receive distributions from the Arizona Health Innovation Trust Fund that was established under Arizona Revised Statutes 41-177 (https://www.azleg.gov/ars/41/00177.htm) to perform the workforce development and entrepreneurial support outlined in the statute.
What have they accomplished so far and what's next?
In 2022 we accomplished the following:
1) Continued to support our students through the AZAdvances Talent Program. the program has supported 1,400 students to date with programs including opportunities to connect with industry leaders, merit based scholarships, and paid internships.
2) Selected by the State Board of Investment to be Arizona's partner in delivering the programmatic impacts from the Arizona Health Innovation Trust.
3) Funding raised in 2022 also supports our planned 2023 mission related investments.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
-
How is your organization using feedback from the people you serve?
To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve
-
Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We share the feedback we received with the people we serve, We tell the people who gave us feedback how we acted on their feedback
-
What challenges does the organization face when collecting feedback?
We don't have any major challenges to collecting feedback
Financials
Revenue vs. expenses: breakdown
Liquidity in 2022 info
0.00
Months of cash in 2022 info
23.4
Fringe rate in 2022 info
0%
Funding sources info
Assets & liabilities info
Financial data
Opportunity Through Entrepreneurship Foundation
Revenue & expensesFiscal Year: Jan 01 - Dec 31
Opportunity Through Entrepreneurship Foundation
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Opportunity Through Entrepreneurship Foundation
Financial trends analysis Glossary & formula definitionsFiscal Year: Jan 01 - Dec 31
This snapshot of Opportunity Through Entrepreneurship Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
Created in partnership with
Business model indicators
| Profitability info | 2022 |
|---|---|
| Unrestricted surplus (deficit) before depreciation | $108,333 |
| As % of expenses | 117.5% |
| Unrestricted surplus (deficit) after depreciation | $108,333 |
| As % of expenses | 117.5% |
| Revenue composition info | |
|---|---|
| Total revenue (unrestricted & restricted) | $200,494 |
| Total revenue, % change over prior year | 0.0% |
| Program services revenue | 0.0% |
| Membership dues | 0.0% |
| Investment income | 0.0% |
| Government grants | 0.0% |
| All other grants and contributions | 100.0% |
| Other revenue | 0.0% |
| Expense composition info | |
|---|---|
| Total expenses before depreciation | $92,161 |
| Total expenses, % change over prior year | 0.0% |
| Personnel | 0.0% |
| Professional fees | 65.3% |
| Occupancy | 0.0% |
| Interest | 0.0% |
| Pass-through | 0.0% |
| All other expenses | 34.7% |
| Full cost components (estimated) info | 2022 |
|---|---|
| Total expenses (after depreciation) | $92,161 |
| One month of savings | $7,680 |
| Debt principal payment | $0 |
| Fixed asset additions | $0 |
| Total full costs (estimated) | $99,841 |
Capital structure indicators
| Liquidity info | 2022 |
|---|---|
| Months of cash | 23.4 |
| Months of cash and investments | 23.4 |
| Months of estimated liquid unrestricted net assets | 24.9 |
| Balance sheet composition info | 2022 |
|---|---|
| Cash | $179,829 |
| Investments | $0 |
| Receivables | $5,000 |
| Gross land, buildings, equipment (LBE) | $0 |
| Accumulated depreciation (as a % of LBE) | 0.0% |
| Liabilities (as a % of assets) | 0.0% |
| Unrestricted net assets | $0 |
| Temporarily restricted net assets | N/A |
| Permanently restricted net assets | N/A |
| Total restricted net assets | $0 |
| Total net assets | $190,879 |
Key data checks
| Key data checks info | 2022 |
|---|---|
| Material data errors | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Chairman
Joan Koerber-Walker
Since 2006, Joan Koerber-Walker has served as Chairman of the Board the Opportunity Through Entrepreneurship Foundation (OTEF). Over a career spanning almost four decades, Koerber-Walker has been a Fortune 500 Executive, an entrepreneur, a technology investor, and a non-profit CEO. She currently serves as President and CEO of the Arizona Bioindustry Association, Inc. (AZBio) and is a member of the AZBio Board of Directors. In this capacity, works on behalf of the Arizona Bioscience and Medical Technology Industry to support the growth of the industry, its members and our community on the local and national level. Ms. Koerber-Walker is also a life science investor and serves or has served on the boards of numerous for-profit and non-profit organizations.
Executive Director
Francine Hardaway
Francine Hardaway is an advocate and resource for entrepreneurs and intrapreneurs. Hardaways has been a marketer and mentor to over 1600 startups, as well as a marketing consultant to several businesses in the field of advertising technology, real estate and health care. Hardaway has been a pioneer in the social media arena and writes on technology, entrepreneurship, and health care policy issues at for Huffington Post. Medium, Phoenix Business Journal and Huffington Post. She is serial entrepreneur and founded Stealthmode Partners with Ed Nusbaum in 1999.
Number of employees
Source: IRS Form 990
There are no officers, directors or key employees recorded for this organization
There are no highest paid employees recorded for this organization.
Opportunity Through Entrepreneurship Foundation
Board of directorsas of 10/14/2023
Board of directors data
Joan Koerber-Walker
Arizona Bioindustry Association (AZBio) and CorePurpose, Inc.
Term: 2006 -
Rob Dunaway
Dunaway Law
Ed Nusbaum
Stealthmode Partners
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
-
Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Not applicable
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
The organization's co-leader identifies as:
Race & ethnicity
Gender identity
Sexual orientation
Disability
We do not display disability information for organizations with fewer than 15 staff.
Professional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G
Solicitation activities
GuideStar Pro Reports
Report successfully added to your cart!
Want more data?
A GuideStar Pro report containing the following information is available for this organization:
- Email contact information
- Financial trends metrics for five most recent years 2022*
- Letter of Determination
- Contractor and/or Paid Preparer data for 2022
- Board of Directors data for 2023
- *with the ability to download the data for 2022
Download it now for $125.
Need the ability to download nonprofit data and more advanced search options?Consider a Pro Search subscription.