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Nonprofiteer
← TECH VALLEY CENTER OF GRAVITY INCORPORATED

Form 990 for tax year 2023

Filed by TECH VALLEY CENTER OF GRAVITY INCORPORATED.

Totals

Total revenue
$478,374
Total expenses
$480,851
Contributions and grants received
$436,821
Grants paid
$0
Program service revenue
$17,820
Investment income
$0
Other revenue
$23,733
Total assets, end of year
$381,919
Total liabilities, end of year
$377,325
Net assets or fund balances, end of year
$4,594
Program services expenses (Part IX)
$414,713
Management and general expenses
$61,667
Fundraising expenses
$4,471
Program service expenses (Part III)
$414,713

Program services were 86.2% 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.

  • 1b · Membership dues

    $154,445

  • 1e · Government grants (contributions)

    $261,790

  • 1f · All other contributions, gifts and grants

    $20,586

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $17,820 · related or exempt $17,820

  • 11a · Other revenue: RENTALS

    total $23,733 · related or exempt $23,733

  • 11e · Other revenue, total

    $23,733

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $63,150 · program services $63,150

  • 7 · Other salaries and wages

    total $93,701 · program services $71,838 · management and general $21,863

  • 10 · Payroll taxes

    total $12,730 · program services $10,956 · management and general $1,774

  • 11c · Fees: accounting

    total $8,644 · management and general $8,644

  • 11g · Fees: other

    total $18,662 · program services $18,351 · management and general $311

  • 12 · Advertising and promotion

    total $1,709 · program services $1,709

  • 13 · Office expenses

    total $6,568 · program services $6,074 · management and general $494

  • 14 · Information technology

    total $10,237 · program services $8,190 · management and general $2,047

  • 16 · Occupancy

    total $161,842 · program services $154,088 · management and general $7,754

  • 17 · Travel

    total $30,232 · program services $30,232

  • 20 · Interest

    total $10,690 · management and general $10,690

  • 22 · Depreciation, depletion and amortization

    total $17,967 · program services $14,370 · management and general $3,597

  • 23 · Insurance

    total $11,316 · program services $9,025 · management and general $2,291

  • 24a · Other expenses: CLASS & EVENT MATERIALS

    total $15,490 · program services $15,490

  • 24b · Other expenses: MISCELLANEOUS FEES

    total $5,756 · program services $4,606 · management and general $1,150

  • 24c · Other expenses: CREDIT CARD PROCESSING FE

    total $5,005 · program services $5,005

  • 24d · Other expenses: OTHER TYPES OF EXPENSES:F

    total $4,471 · fundraising $4,471

  • 24e · All other expenses

    total $2,681 · program services $1,629 · management and general $1,052

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $134,010 · end of year $122,635

  • 4 · Accounts receivable

    beginning of year $16,241 · end of year $31,183

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

    $328,328

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

    $261,166

  • 10c · Land, buildings and equipment, net

    beginning of year $61,912 · end of year $67,162

  • 15 · Other assets

    beginning of year $287,406 · end of year $160,939

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,141 · end of year $33,352

  • 23 · Secured mortgages and notes payable

    beginning of year $38,952 · end of year $27,772

  • 24 · Unsecured notes and loans payable

    beginning of year $144,599 · end of year $155,048

  • 25 · Other liabilities

    beginning of year $286,806 · end of year $161,153

  • 27 · Net assets without donor restrictions

    beginning of year $7,071 · end of year $4,594

Mission and programs · 2023

Mission

DEVELOPING PROGRAMS TO FOSTER INNOVATIONS.

Activities or mission (Part I)

TECH VALLEY CENTER OF GRAVITY IS A MAKERSPACE, PROTOTYPING CENTER, MANUFACTURING INCUBATOR, STEAM EDUCATION CENTER, COMMUNITY GATHERING SPACE, AND CREATIVE COMMUNITY. AS A NOT-FOR-PROFIT COMMUNITY RESOURCE, WE NURTURE THE PERSONAL AND ECONOMIC GROWTH OF OUR MEMBERS, OUR NEIGHBORS, AND THE WIDER TECH VALLEY COMMUNITY THROUGH OUR WORK AND OUR COLLABORATIONS.

  • DEVELOPING PROGRAMS TO FOSTER INNOVATIONS.

    Expenses $414,713 · Revenue $17,820

As filed on the 2023 return.

Listed in Part VII

  • Courtney Moore

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Kit Clemente

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Dylan Thies

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Sam Bonfante

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Dan Falkenstrom

    FACILITIES D

    Total calculated
    $63,150
    From this org
    $63,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Deborah E Nazon PhD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Dayonna Bowles

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ernest Cusick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joanne Fernandez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jessica Otitigbe

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202423209349303437

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