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Service Corps of Retired Executives

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American business advisory organization
Service Corps of Retired Executives Association
AbbreviationSCORE
Formation1964
PurposeBusiness education
Business mentoring
HeadquartersHerndon, Virginia
Region served United States
CEOBridget Weston
Budget$17,890,000 in 2021
Staff50
Volunteers10,000
WebsiteOfficial website

Service Corps of Retired Executives (SCORE) is a non-profit organization of volunteer counselors who provide free mentoring, education programs, workshops, and webinars to small businesses. SCORE is a resource partner of the U.S. Small Business Administration (SBA) who administers a Congressional grant which provides SCORE with funding. SCORE is headquartered in Herndon, Virginia, with over 233 chapters which are located in offices located throughout the United States. It is the nation's largest network of volunteer, expert business mentors.

History

SCORE was chartered by an Act of the U.S. Congress in 1964 to provide technical and managerial guidance to the business community, profit and not-for-profit organizations, and prospective entrepreneurs through the use of volunteer counselors. On October 5, 1964, SBA administrator, Eugene P. Foley officially launched SCORE. Walter H. Channing of Detroit, Michigan, served as its first president. By 1968 over 1,000 small businesses per month were receiving free business advice from SCORE. Since its founding it has helped over 10 million entrepreneurs.

A 2019 audit by the Small Business Administration Office of Inspector General (OIG) was highly critical of SCORE, finding that SCORE officials did not effectively oversee SCORE's use of federal funds, inappropriately solicited donations for mentoring services, charged for publication material that did not include the required SBA acknowledgement statement and improperly managed funds used for cosponsored activities. The OIG recommended that the SBA improve its oversight and monitoring of SCORE's use of government funds, and its reporting of performance results. The OIG also recommended that the SBA recover $713,986 of unallowable and unsupported costs.

By 2021 SCORE began to emphasize the importance diversity, equity and inclusion in business (DEI).

In 2023, Iowa Senator Joni Ernst introduced a bill in the U.S. Senate, S-1896, entitled the SCORE Act of 2023 which would "overhaul SCORE to meet the needs of today’s dynamic economy and improve support for female and rural business owners".

Operations

SCORE is governed by a 19 member board of directors. It has a team of approximately 50 salaried employees at its headquarters in Herndon, Virginia who support the organization of over 10,000 volunteers in 250 office locations throughout the U.S.

SCORE is primarily supported by a government grant, workshop fees and contributions. SCORE receives a majority of its financial support from the U.S. Small Business Administration (SBA). SCORE is also supported by the SCORE Foundation, a 501 (c) (3) non-profit organization formed in 1996 to serve as the philanthropic arm of SCORE. SCORE is exempt from federal and state income taxes on income under the provisions of Section 501(c)(3) of the Internal Revenue Code.

SCORE's website offers a comprehensive small business library with "how-to" guides, downloadable templates, checklists, articles, videos, infographics, and blogs. The website also hosts online workshops, and recorded webinars and interactive courses on demand.

SCORE volunteer mentors give free and confidential business advice to business owners using different communication methods, including phone, video, email and in-person meetings. There are four types of SCORE volunteering opportunities: business mentors, workshop presenters, subject matter experts and chapter support roles From time to time SCORE gives the Walter H Channing Award. Named in honor of its founding president, it is the highest honor for volunteer service within SCORE.

References

  1. Staff (October 2022). "Score CEO Connects Women in Business". The Business Journal of Youngtown Ohio. No. Mid October. Youngstown Publishing Company. Retrieved 15 April 2024.
  2. "Service Corps of Retired Executivies (SCORE)". inc.com. Mansueto Ventures, LLC. Retrieved 13 April 2024.
  3. "SCORE Business Mentoring". sba.gov. U.S. Small Business Administration. Retrieved 11 April 2024.
  4. "Tops in Business". The Washington Daily News. 1 October 1964.
  5. Testing the Conventional Wisdom Regarding Volunteer Programs: A Longitudinal Analysis of the Service Corps of Retired Executives and the U.S. Small Business Administration, 2002, by Jeffrey L. Brudney Beth Gazley, University of Georgia
  6. Ludcke, G.L. (20 May 1968). "Retired Experts Are Ready To Assist New Business". The Buffalo News. No. Sec I-9.
  7. Wingo, Lauren (4 March 2021). "What Is SCORE and How Can You Use It To Help You Start a Business?". uschamber.com. U.S. Chamber Of Commerce. Retrieved 13 April 2024.
  8. U.S. Small Business Administration Office of Inspector General Audit of SBA's of the SCORE Association dated 25 April 2019
  9. Adams, Montrie Rucker (2021). "SCORE: No Longer Your Old, Retired White Man's Organization". C L Magazine (Summer Fall Issue). Retrieved 14 April 2024.
  10. Ernst, Joni (8 June 2023). "Ranking Member Ernst Works to Overhaul, Refocus Failing SBA Entrepreneurship Program". US Senator Joni Ernst. Retrieved 14 April 2024.
  11. "SCORE – Mentors to America's Small Businesses – Announces New Board Members". PR Newwire. 10 Oct 2023. Retrieved 12 April 2024.
  12. Harrison, J.D. (1 December 2014). "Does traditional small business mentoring fit into today's entrepreneurship equation?". The Washington Post. Retrieved 16 April 2024.
  13. "National Bankers Association Foundation, with Wells Fargo Support, Will Underwrite SCORE Training and Education to Improve Founders' Financial Acumen". marketwatch.com. MarketWatch. Retrieved 14 April 2024.
  14. Osman, Maddy (28 September 2023). "SCORE Mentoring: A Free Resource for Entrepreneurs Seeking Growth". Newsweek. Retrieved 12 April 2024.
  15. Salemi, Vicki. "Volunteering — even from home — helps others and can boost your career". New York Post. No. 19 Nov 2023. Retrieved 12 April 2024.
  16. Collamer, Nancy (2 March 2020). "How To Become A SCORE Small Business Mentor". Forbes. Retrieved 13 April 2024.

Further reading

  • Nellis, Elwyn A. (1989). A Score That Counts: The Story of the Service Corps of Retired Executives (First ed.). Service Corps of Retired, Philadelphia, PA. ISBN 978-0962346606.

External links

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