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Nonprofiteer
← TECH TOWN NEW MARKET INC

Form 990 for tax year 2024

Filed by TECH TOWN NEW MARKET INC.

Totals

Total revenue
$1,284,966
Total expenses
$514,485
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$100,000
Investment income
$0
Other revenue
$1,184,966
Total assets, end of year
$8,392,941
Total liabilities, end of year
$2,179,162
Net assets or fund balances, end of year
$6,213,779
Program services expenses (Part IX)
$710,192
Management and general expenses
-$195,707
Fundraising expenses
$0
Program service expenses (Part III)
$710,192

Program services were 138.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DAVID MELIN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • FRANK FERRANTE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVE DICKERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SHELLEY DICKSTEIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVE GONDOL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GINA MCFARLANE-EL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • FRANK PETRIE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TERRI BETHEL

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • AMY RIEGEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KIYA PATRICK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARK WILLIAMS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TODD PLEIMAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH GORDON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KENA BROWN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WALT HIBNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RODDELL MCCULLOUGH

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • NIKOL MILLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BOB RUZINSKY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KRISTIN FINCH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVE SKERL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ROSALIE GEHRICH

    CFO/ASST TREASURER

    Total calculated
    $192,140
    From this org
    $0
    From related orgs
    $168,408
    Other
    $23,732
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,908 related
    Bonus
    $0 + $12,500 related
    Other
    $0
    Deferred
    $0 + $13,473 related
    Nontaxable benefits
    $0 + $10,259 related
    Filer's total
    $0 + $192,140 related

  • DANIEL KANE

    PRESIDENT

    Total calculated
    $267,392
    From this org
    $0
    From related orgs
    $220,850
    Other
    $46,542
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,350 related
    Bonus
    $0 + $17,500 related
    Other
    $0
    Deferred
    $0 + $20,646 related
    Nontaxable benefits
    $0 + $25,896 related
    Filer's total
    $0 + $267,392 related

  • KAREN DEMASI

    ASSISTANT SECRETARY

    Total calculated
    $167,424
    From this org
    $0
    From related orgs
    $147,456
    Other
    $19,968
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,456 related
    Bonus
    $0 + $12,000 related
    Other
    $0
    Deferred
    $0 + $11,796 related
    Nontaxable benefits
    $0 + $8,172 related
    Filer's total
    $0 + $167,424 related

  • HEATHER CORBIN

    SBA DIRECTOR/SR BUSINESS D

    Total calculated
    $168,237
    From this org
    $0
    From related orgs
    $156,414
    Other
    $11,823
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $154,414 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0 + $11,823 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $168,237 related

  • SHANE WILKEN

    SENIOR BUSINESS DEVELOPMEN

    Total calculated
    $160,496
    From this org
    $0
    From related orgs
    $142,152
    Other
    $18,344
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $137,152 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $11,372 related
    Nontaxable benefits
    $0 + $6,972 related
    Filer's total
    $0 + $160,496 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
DANIEL KANE IS THE PRESIDENT OF CITYWIDE DEVELOPMENT CORPORATION, A RELATED ORGANIZATION DISCLOSED IN SCHEDULE R. HIS COMPENSATION IS DISCLOSED WITHIN THIS FORM 990 BECAUSE IT IS PAID BY CITYWIDE DEVELOPMENT CORPORATION. HE IS NOT PAID BY TECH TOWN NEW MARKET INC. THE OTHER HIGHLY COMPENSATED EMPLOYEES REPORTED IN PART VII SECTION A OF THIS TAX RETURN ARE ALSO PAID BY CITYWIDE DEVELOPMENT CORPORATION NOT BY TECH TOWN NEW MARKET INC. THEIR SALARIES AND BENEFITS ARE ONLY REPORTED WITHIN THIS RETURN DUE TO THE RELATED PARTY RELATIONSHIP. COMPENSATION PAID BY THE RELATED ORGANIZATION IS ESTABLISHED BY USING A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT AND A COMPENSATION SURVEY OR STUDY.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
11 August 2025
IRS schema version
2024v5.2
Source object
202512279349300246

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