Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $128,175

• 1e · Government grants (contributions)

  $3,111,248

• 1f · All other contributions, gifts and grants

  $1,281,450

• 2a · Program service revenue: WORKSHOP INCOME

  total $123,317 · related or exempt $123,317

• 3 · Investment income

  total $97,757 · excluded $97,757

• 7b · Less cost or other basis and sales expenses

  other assets $22,486

• 7c · Gain or loss

  other assets -$22,486

• 7d · Net gain or loss

  total -$22,486 · related or exempt -$22,486

• 8a · Fundraising events: gross income

  $15,636

• 8a · Fundraising events: contributions included on line 1c

  $128,175

• 8b · Fundraising events: direct expenses

  $152,372

• 8c · Net income from fundraising events

  total -$136,736 · excluded -$136,736

• 11a · Other revenue: DISCOUNT ON RECEIVABLE

  total $133,132 · related or exempt $133,132

• 11b · Other revenue: SUBCONTRACTOR REVENUE

  total $88,345 · related or exempt $88,345

• 11c · Other revenue: REBATE INCOME

  total $4,008 · related or exempt $4,008

• 11e · Other revenue, total

  $225,485

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,840,720 · program services $1,840,720

• 7 · Other salaries and wages

  total $5,204,055 · program services $2,622,291 · management and general $2,063,364 · fundraising $518,400

• 11b · Fees: legal

  total $105,661 · program services $80,680 · management and general $24,981

• 11c · Fees: accounting

  total $60,375 · management and general $60,375

• 11g · Fees: other

  total $394,197 · program services $280,546 · management and general $113,651

• 12 · Advertising and promotion

  total $503,396 · program services $465,880 · management and general $31,112 · fundraising $6,404

• 13 · Office expenses

  total $89,881 · program services $41,112 · management and general $47,682 · fundraising $1,087

• 14 · Information technology

  total $265,112 · program services $115,315 · management and general $146,641 · fundraising $3,156

• 16 · Occupancy

  total $46,346 · program services $46,346

• 17 · Travel

  total $82,157 · program services $41,644 · management and general $34,199 · fundraising $6,314

• 19 · Conferences, conventions and meetings

  total $488,139 · program services $448,343 · management and general $21,596 · fundraising $18,200

• 20 · Interest

  total $17,798 · management and general $17,798

• 22 · Depreciation, depletion and amortization

  total $78,575 · program services $56,940 · management and general $21,635

• 23 · Insurance

  total $26,203 · management and general $26,203

• 24a · Other expenses: DIRECT PROGRAM COSTS

  total $3,332,916 · program services $3,332,916

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,566,795 · end of year $1,592,046

• 2 · Savings and temporary cash investments

  beginning of year $2,009,622 · end of year $1,794,396

• 3 · Pledges and grants receivable

  beginning of year $6,704,018 · end of year $0

• 4 · Accounts receivable

  beginning of year $8,731,100 · end of year $3,458,293

• 9 · Prepaid expenses and deferred charges

  beginning of year $40,298 · end of year $39,509

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

  $410,970

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

  $360,910

• 10c · Land, buildings and equipment, net

  beginning of year $150,920 · end of year $50,060

• 13 · Investments: program-related

  beginning of year $6,831,415 · end of year $6,831,415

• 15 · Other assets

  beginning of year $0 · end of year $7,106,938

• 17 · Accounts payable and accrued expenses

  beginning of year $1,411,566 · end of year $1,411,338

• 19 · Deferred revenue

  beginning of year $10,000 · end of year $3,004,255

• 23 · Secured mortgages and notes payable

  beginning of year $810,000 · end of year $430,000

• 25 · Other liabilities

  beginning of year $58,472 · end of year $17,238

• 27 · Net assets without donor restrictions

  beginning of year $14,969,606 · end of year $16,009,826

• 28 · Net assets with donor restrictions

  beginning of year $8,774,524 · end of year $0

The filer's explanations (Part III)

PART I, LINE 4A

KIMBERLY WATTS RECEIVED $21,052 IN SEVERANCE IN 2024.

SCHEDULE J, PART II:

EDWARD STAEBLER WAS COMPENSATED BY WAYNE STATE UNIVERSITY FOR HIS ROLE AS OFFICER OF WAYNE STATE UNIVERSITY RESEARCH & TECHNOLOGY PARK IN THE CITY OF DETROIT. SEE SCHEDULE J PART II FOR HIS COMPENSATION DETAILS.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• TECHONE HOLDING CORPORATION

  C · MASTER SUB TENANT · MI · 100% owned · share of income $3,678,487 · share of assets $17,002,880 · controlled entity

  Directly controlled by TECHTOWN

• TECHTOWN OPS PLUS

  C · MANAGEMENT CONSULTING · MI · 100% owned · share of income $81,408 · controlled entity

  Directly controlled by TECHTOWN