Bizworks Enterprise Center

Overview

The Bizworks Enterprise Center is a 501(c)(3) nonprofit organization dedicated to supporting the growth and development of new and emerging businesses. It plays a crucial role in enhancing the economic vitality of Chesterfield County by fostering job creation and attracting capital investment.

Mission

The organization's mission is to provide essential resources to entrepreneurs, including mentorship, access to business resources, flexible office and warehouse spaces, and shared administrative services. This comprehensive support system enables businesses to navigate challenges effectively and scale their operations successfully.

Impact

Economic Development

• Job Creation: Bizworks Enterprise Center contributes to lowering unemployment rates by supporting startups and growing enterprises.
• Capital Investment: The center helps businesses attract investments, which bolster their growth and bring additional resources into the community.
• Resource Access: Entrepreneurs gain valuable mentorship and access to critical business resources, facilitating successful business operations.
• Flexible Workspaces: By offering flexible office and warehouse spaces, Bizworks reduces barriers to entry for new businesses, allowing them to conserve capital during early stages.
• Shared Services: The organization provides shared administrative services, helping startups reduce overhead costs and focus on core operations.

Financial Data

• Revenue: In recent years, Bizworks Enterprise Center reported revenues of approximately $347,812.
• Expenses: The organization's expenses include salaries and wages for staff, with other compensation details varying by year.

Leadership and Governance

• Executive Director: Tanner Collins Jr serves as the Executive Director of the organization.
• Previous Leadership: The center has had previous leadership, with Thaddeus Huff and Suzanne Cormier noted as former CEOs in IRS filings.

Tax Status

• 501(c)(3) Designation: Bizworks Enterprise Center is officially designated as a 501(c)(3) organization, typically for purposes such as charitable or educational activities. However, discrepancies exist regarding the tax deductibility of donations, with some sources indicating non-deductibility[2].

Conclusion

In summary, the Bizworks Enterprise Center is a vital component of Chesterfield County's economic ecosystem, providing indispensable support to emerging businesses and contributing to the local economy's health and resilience.