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Nonprofiteer
← THE CENTER FOR TECHNOLOGY ENTERPRISE AND DEVELOPMENT INC

Form 990 for tax year 2022

Filed by THE CENTER FOR TECHNOLOGY ENTERPRISE AND DEVELOPMENT INC.

Totals

Total revenue
$774,848
Total expenses
$883,260
Contributions and grants received
$699,619
Grants paid
$0
Program service revenue
$36,714
Investment income
-$11,745
Other revenue
$50,260
Total assets, end of year
$549,226
Total liabilities, end of year
$537,641
Net assets or fund balances, end of year
$11,585
Program services expenses (Part IX)
$779,576
Management and general expenses
$103,684
Fundraising expenses
$0
Program service expenses (Part III)
$779,576

Program services were 88.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $400,000

  • 1f · All other contributions, gifts and grants

    $299,619

  • 1g · Noncash contributions included above

    $68,119

  • 2a · Program service revenue: WOMEN'S BUSINESS CENTER

    total $36,714 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total -$11,745 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $73,275

  • 8b · Fundraising events: direct expenses

    $31,065

  • 8c · Net income from fundraising events

    total $42,210 · unrelated business $0 · excluded $42,210

  • 11d · All other revenue

    total $8,050 · related or exempt $8,050 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $8,050

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $140,550 · program services $127,014 · management and general $13,536 · fundraising $0

  • 7 · Other salaries and wages

    total $427,466 · program services $386,299 · management and general $41,167 · fundraising $0

  • 9 · Other employee benefits

    total $37,410 · program services $20,365 · management and general $17,045 · fundraising $0

  • 10 · Payroll taxes

    total $42,131 · program services $38,074 · management and general $4,057 · fundraising $0

  • 13 · Office expenses

    total $6,716 · program services $6,663 · management and general $53 · fundraising $0

  • 16 · Occupancy

    total $76,886 · program services $71,108 · management and general $5,778 · fundraising $0

  • 17 · Travel

    total $7,473 · program services $1,192 · management and general $6,281 · fundraising $0

  • 20 · Interest

    total $15,304 · program services $13,095 · management and general $2,209 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $30,720 · program services $23,040 · management and general $7,680 · fundraising $0

  • 23 · Insurance

    total $12,872 · program services $12,278 · management and general $594 · fundraising $0

  • 24a · Other expenses: UTILITIES

    total $4,476 · program services $4,272 · management and general $204 · fundraising $0

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $2,582 · program services $2,382 · management and general $200 · fundraising $0

  • 24c · Other expenses: POSTAGE & DELIVERY

    total $226 · program services $226 · management and general $0 · fundraising $0

  • 24d · Other expenses: CONSULTANT FEE

    total $37,486 · program services $37,486 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $40,962 · program services $36,082 · management and general $4,880 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $53,507 · end of year $41,331

  • 4 · Accounts receivable

    beginning of year $157,565 · end of year $123,891

  • 10a · Land, buildings and equipment: cost or other basis

    $1,126,683

  • 10b · Land, buildings and equipment: accumulated depreciation

    $859,990

  • 10c · Land, buildings and equipment, net

    beginning of year $297,413 · end of year $266,693

  • 15 · Other assets

    beginning of year $121,907 · end of year $117,311

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,775 · end of year $20,565

  • 22 · Loans and payables to officers and key people

    beginning of year $107,471 · end of year $112,941

  • 24 · Unsecured notes and loans payable

    beginning of year $312,085 · end of year $299,359

  • 25 · Other liabilities

    beginning of year $85,063 · end of year $104,776

  • 27 · Net assets without donor restrictions

    beginning of year $119,998 · end of year $11,585

Mission and programs · 2022

Mission

HOUSING, EMPLOYMENT AND ECONOMIC DEVELOPMENT IN THE COMMUNITY

  • BUSINESS INCUBATOR PROGRAM TO ASSIST NEW & EMERGING BUSINESSES TO MANAGE RISKS & MAXIMIZE RESOURCES

    Expenses $351,991 · Revenue $380,666

  • WOMENS BUSINESS CENTER

    Expenses $427,585 · Revenue $405,927

As filed on the 2022 return.

Listed in Part VII

  • Seabron Smith

    EXEC. DIR.

    Total calculated
    $140,550
    From this org
    $140,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Dr Barbara Carey-Shuler

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tony Newbold

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • George Psoinos

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Kevin Picart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Debbie Satyal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Nnachi Oko

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • George Elmore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cheryl Rogers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Monique Corker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Byron Jones

    TREASURER

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • ATLANTIC GROVE PARTNERS

    REAL ESTATE DEVELOPMENT · FL

Provenance

Return type
form_990
Tax year
2022
Filed
21 April 2024
IRS schema version
2022v5.0
Source object
202441209349300049

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