Totals
- Total revenue
- $1,628,406
- Total expenses
- $1,571,798
- Contributions and grants received
- $1,628,406
- Grants paid
- $94,000
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $480,101
- Total liabilities, end of year
- $199,100
- Net assets or fund balances, end of year
- $281,001
- Program services expenses (Part IX)
- $1,074,488
- Management and general expenses
- $295,385
- Fundraising expenses
- $201,925
- Program service expenses (Part III)
- $1,074,488
Program services were 68.4% 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)
$1,110,686
-
1f · All other contributions, gifts and grants
$517,720
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $94,000 · program services $94,000
-
5 · Compensation of officers, directors and key employees
total $264,201 · program services $176,644 · management and general $36,585 · fundraising $50,972
-
7 · Other salaries and wages
total $467,726 · program services $315,069 · management and general $62,793 · fundraising $89,864
-
9 · Other employee benefits
total $45,183 · program services $27,832 · management and general $8,256 · fundraising $9,095
-
10 · Payroll taxes
total $64,315 · program services $44,236 · management and general $7,462 · fundraising $12,617
-
11b · Fees: legal
total $7,258 · program services $4,728 · management and general $2,530
-
11c · Fees: accounting
total $118,561 · program services $66,987 · management and general $48,209 · fundraising $3,365
-
11d · Fees: lobbying
total $28,000 · fundraising $28,000
-
11g · Fees: other
total $362,194 · program services $291,586 · management and general $65,086 · fundraising $5,522
-
12 · Advertising and promotion
total $31,091 · program services $24,148 · management and general $6,471 · fundraising $472
-
13 · Office expenses
total $6,986 · program services $511 · management and general $6,475
-
14 · Information technology
total $8,982 · program services $1,000 · management and general $7,982
-
16 · Occupancy
total $7,665 · management and general $7,665
-
17 · Travel
total $33,134 · program services $23,998 · management and general $8,932 · fundraising $204
-
23 · Insurance
total $5,053 · program services $3,115 · management and general $920 · fundraising $1,018
-
24a · Other expenses: PROFESSIONAL DEVELOPMEN
total $23,354 · program services $168 · management and general $23,186
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $2,923 · program services $127 · management and general $2,000 · fundraising $796
-
24c · Other expenses: STATE FILING FEES
total $1,140 · program services $339 · management and general $801
-
24d · Other expenses: BANK FEES
total $32 · management and general $32
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $303,733 · end of year $293,112
-
3 · Pledges and grants receivable
beginning of year $326,600 · end of year $174,198
-
9 · Prepaid expenses and deferred charges
end of year $6,566
-
15 · Other assets
beginning of year $6,225 · end of year $6,225
-
17 · Accounts payable and accrued expenses
beginning of year $196,817 · end of year $100,123
-
19 · Deferred revenue
beginning of year $144,827 · end of year $98,977
-
27 · Net assets without donor restrictions
beginning of year $236,914 · end of year $251,001
-
28 · Net assets with donor restrictions
beginning of year $58,000 · end of year $30,000
Mission and programs · 2023
Mission
TO HELP INNOVATORS WITH PHYSICAL PRODUCTS NAVIGATE THE JOURNEY FROM PROTOTYPE THROUGH TO COMMERCIALIZATION AND IMPACT AT SCALE.
-
THE ORGANIZATION STRENGTHENS REGIONAL ECONOMIES THROUGH PROGRAMMING THAT POWERS THE DEVELOPMENT OF EMERGING HARDTECH SOLUTIONS AND ENABLES LOCAL MANUFACTURING. PROGRAMMING INCLUDES PRODUCT DEVELOPMENT SUPPORT, MANUFACTURING READINESS EDUCATION, AND DIRECT FACILITATION OF LOCAL MANUFACTURING PARTNERSHIPS. THE ORGANIZATION ALSO PROVIDES NON-DILUTIVE PRODUCT DEVELOPMENT GRANTS, WHICH ARE DEPLOYED TO HIGH POTENTIAL STARTUPS TO SUPPORT ACHIEVING DISCRETE AND CRITICAL PRODUCT MILESTONES TO POSITION THE COMPANY TO UNLOCK NEXT STAGE TRACTION AND, ULTIMATELY, SCALED MANUFACTURING PRODUCTION.
Expenses $1,074,488 · Grants $94,000
As filed on the 2023 return.
Listed in Part VII
-
Rodney DowellRODNEY DOWELL
CHAIRMAN/DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sarah Jane MaxtedSARAH JANE MAXTED
TREASURER/DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dana CordovaDANA CORDOVA
DIRECTOR (THRU 6/14/23)
- Total calculated
- $0
- Hours/week
- 1
-
Julie ChenJULIE CHEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Raj MelvilleRAJ MELVILLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nina BirgerNINA BIRGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Elissa KingslandELISSA KINGSLAND
CLERK/DIRECTOR (THRU 06/23)
- Total calculated
- $0
- Hours/week
- 1
-
Arthur TrapotsisARTHUR TRAPOTSIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ben DowningBEN DOWNING
DIRECTOR (APPT 3/3/23)
- Total calculated
- $0
- Hours/week
- 1
-
Onyeka ObiochaONYEKA OBIOCHA
DIRECTOR (APPT 12/6/23)
- Total calculated
- $0
- Hours/week
- 1
-
Laura TeicherLAURA TEICHER
PRESIDENT/EXECUTIVE DIRECTOR
- Total calculated
- $188,554
- From this org
- $163,269
- From related orgs
- $0
- Other
- $25,285
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,769
- Bonus
- $12,500
- Other
- $0
- Deferred
- $14,000
- Nontaxable benefits
- $11,285
- Filer's total
- $188,554
-
Anya LosikANYA LOSIK
CLERK(APPT 9/2023)/CHIEF OF STAFF
- Total calculated
- $98,716
- From this org
- $86,988
- From related orgs
- $0
- Other
- $11,728
- Hours/week
- 40
-
Adam RodriguesADAM RODRIGUES
VICE PRESIDENT
- Total calculated
- $157,464
- From this org
- $137,993
- From related orgs
- $0
- Other
- $19,471
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,993
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $19,471
- Filer's total
- $157,464
-
Paul Damian ButlerPAUL DAMIAN BUTLER
DIRECTOR OF PARTNERSHIPS
- Total calculated
- $103,651
- From this org
- $102,539
- From related orgs
- $0
- Other
- $1,112
- Hours/week
- 40
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
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 7
- THE PRESIDENT/EXECUTIVE DIRECTOR RECEIVED A DISCRETIONARY BONUS IN 2023. THE BONUS IS DETERMINED BASED ON THE MARKET RATE FOR SIMILAR ROLES AT OTHER SIMILAR ORGANIZATIONS. THE BONUS WAS APPROVED BY THE BOARD OF DIRECTORS.
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
-
SEDMED INC
$20,000
PRODUCT DEVELOPMENT
-
BRASH ENGINES INC
$10,000
PRODUCT DEVELOPMENT
-
FASCIA SLEEP INCORPORATED
$10,000
PRODUCT DEVELOPMENT
-
FLOE INC
$10,000
PRODUCT DEVELOPMENT
-
KLAW INDUSTRIES
$10,000
PRODUCT DEVELOPMENT
-
SPADXTECH LLC
$10,000
PRODUCT DEVELOPMENT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 11 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413169349302501
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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