Community Improvement, Capacity Building

BAC Education Foundation Inc

  • Fort Worth, TX
  • www.fwbac.com

Mission Statement

The BAC Education Foundation's mission supports the activities of the Fort Worth Business Assistance Center by sponsoring complementary or very low cost educational programs to small, women- and /or minority-owned businesses. The Foundation also supports the programs of IDEA Works FW. Idea Works FW is a creative, dynamic program that provides emerging businesses with nurturing relationships, state of the art tools, an attractive and secure work environment, best practices and access to global resources to sustain and scale their enterprises. The Fort Worth Business Assistance Center is a one stop resource that helps entrepreneurs start grow, and develop their business by creating and delivering workshops, programs, and events for emerging and establish small business.


Main Programs

  1. Project New Beginnings
  2. Business Plan Competition
  3. Step One - Starting A Business Program
Service Areas

Self-reported

Texas

Tarrant County, DFW Region, North Texas

ruling year

1999

Economic Development Director since 2013

Self-reported

Robert Sturns

Director, Idea Works FW since 2013

Self-reported

Hayden Blackburn

Keywords

Self-reported

small business, women, minority, entrepreneur, economic development, community development, business assistance, incubator, technical assistance, technology, historic preservation, adaptive re-use

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EIN

75-2824925

 Number

0015209641

Contact

Cause Area (NTEE Code)

Economic Development (S30)

Alliance/Advocacy Organizations (B01)

Adult, Continuing Education (B60)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

Project New Beginnings

Project New Beginnings is an eight-week (8) entrepreneurial training classes for lo to moderate income residents in Tarrant County. The Program teaches participants how to develop a business plan, research target markets and prepare cash flow projections. Participants are provided free one-on-one business development counseling by BAC counselors.

Category

Community, Business & Industry

Population(s) Served

Poor/Economically Disadvantaged, Indigent, General

General Public/Unspecified

Budget

Program 2

Business Plan Competition

The Fort Worth Business Plan Competition educates business owners on the importance of planning and helps to stimulate local businesses with monetary prizes and in-kind business services. A Call for Entries is issued by the BAC Education Foundation, Inc. and its collaborative partners. From all submissions, 25 semi-finalists are selected by a blue-ribbon panel of judges. From these 25, three finalists will be selected. These three finalists will receive intensive coaching and training. Cash prizes are awarded to the first, second and third place winners. An award reception is conducted at Texas Christian University at the conclusion of the competition. By developing a new or enhanced business plan, participants in the competition can strengthen their market competitiveness and increase their bottom line.

Category

Community, Business & Industry

Population(s) Served

General Public/Unspecified

Budget

Program 3

Step One - Starting A Business Program

Business Training class offered three times per month that teaches the fundamental information needed to start a business. Program elements include:

Step One: Starting a Business - If you are just starting or thinking about starting a business, this is a must attend workshop, it's your first step.

Business Planning: The Basic Overview - This session will explain the reasons to write a business plan and the Do's and Don'ts of writing the plan. It will reinforce the importance of accurate financial projections and the market research that is needed to help you understand your industry, target market and competition.

Business Planning: The Full Story - This is a half-day session where you will actually begin writing your plan. At the end of the class, you will leave with the full structure and information for your plan. The instructors will take you step-by-step through the primary components of writing the plan and cover every section that should be included in a successful plan.

Business Planning: Advanced Financials - The focus of this session is on realistic financial projections. The class will cover financial statements, cash flow, pricing and sales. You will work with the spreadsheets needed to plot the actual financial projections for your business

Category

Community, Business & Industry

Population(s) Served

General Public/Unspecified

Budget

Service Areas

Self-reported

Texas

Tarrant County, DFW Region, North Texas

Videos

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

BAC EDUCATION FOUNDATION INC
Fiscal year: Oct 01-Sep 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

BAC Education Foundation Inc

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair, Board Co-Chair and Board Members
  • Access to the GuideStar Community
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Economic Development Director

Robert Sturns

Director, Idea Works FW

Hayden Blackburn

BIO

Administration of the Fort Worth Business Assistance Center (BAC) and Guinn School Complex. The BAC is comprised of nine service providers that supply business start-up counseling, business plan development and SBA 504 loan assistance. The mission of the BAC is to help small businesses start, grow and succeed by creating and delivering relevant workshops, programs and events. Serve as Executive Director of the BAC Education Foundation, a 501(c)3 aligned in partnership with the City of Fort Worth to advance the objective of small business development.

Governance

BOARD CHAIR

Lucas Sawyer

Worthington National Bank

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & 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?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?