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← CENTRI TECH FOUNDATION

Form 990 for tax year 2024

Filed by CENTRI TECH FOUNDATION.

Totals

Total revenue
$1,282,515
Total expenses
$1,372,142
Contributions and grants received
$1,201,596
Grants paid
$94,426
Program service revenue
$0
Investment income
$80,919
Other revenue
$0
Total assets, end of year
$1,161,462
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,161,462
Program services expenses (Part IX)
$1,079,123
Management and general expenses
$168,019
Fundraising expenses
$125,000
Program service expenses (Part III)
$1,079,123

Program services were 78.6% 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.

  • 1f · All other contributions, gifts and grants

    $1,201,596

  • 3 · Investment income

    total $20,516 · excluded $20,516

  • 7a · Gross sales of assets other than inventory

    securities $1,192,549

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

    securities $1,132,146

  • 7c · Gain or loss

    securities $60,403

  • 7d · Net gain or loss

    total $60,403 · excluded $60,403

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $94,426 · program services $94,426

  • 5 · Compensation of officers, directors and key employees

    total $203,256 · program services $195,126 · management and general $8,130

  • 7 · Other salaries and wages

    total $211,978 · program services $203,496 · management and general $8,482

  • 9 · Other employee benefits

    total $7,469 · program services $7,173 · management and general $296

  • 10 · Payroll taxes

    total $28,054 · program services $26,932 · management and general $1,122

  • 11g · Fees: other

    total $160,126 · program services $23,150 · management and general $136,976

  • 13 · Office expenses

    total $3,977 · management and general $3,977

  • 14 · Information technology

    total $11,107 · program services $2,777 · management and general $8,330

  • 17 · Travel

    total $7,043 · program services $7,043

  • 24a · Other expenses: PAYMENTS TO AFFILIATES

    total $519,000 · program services $519,000

  • 24b · Other expenses: FUNDRAISING

    total $125,000 · fundraising $125,000

  • 24c · Other expenses: OTHER EXPENSES

    total $706 · management and general $706

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $156,707 · end of year $1,059,340

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

    $102,122

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $102,122

  • 11 · Investments: publicly traded securities

    beginning of year $1,094,407

  • 22 · Loans and payables to officers and key people

    beginning of year $25

  • 27 · Net assets without donor restrictions

    beginning of year $1,251,089 · end of year $1,161,462

Mission and programs · 2024

Mission

CENTRI TECH FOUNDATION SUPPORTS LOCAL COMMUNITY DEVELOPMENT ORGANIZATIONS TO SOLVE PROBLEMS IN THEIR COMMUNITY BY BRINGING TOGETHER STAKEHOLDERS TO CREATE SUSTAINABLE ASSET BUILDING SOLUTIONS THAT YIELD LONG TERM ECONOMIC, HEALTH AND EDUCATIONAL ENHANCEMENT TO ITS RESIDENTS BY LEVERAGING TECHNOLOGY AND INNOVATIVE SOLUTIONS.

  • DIGITAL ADVANCEMENT INSTITUTETHE CENTRI TECH FOUNDATION SEEKS TO LEVERAGE INVESTMENTS IN TECHNOLOGY ACCESS AND ADOPTION TO BUILD AN INCLUSIVE DIGITAL ECONOMY. BY EXPANDING ACCESS TO AFFORDABLE, RELIABLE HIGH-SPEED INTERNET TO EVERY AMERICAN NOT ONLY WHERE THEY WORK AND LEARN, BUT ALSO WHERE THEY LIVE, LEADERS CAN IMPLEMENT BOLD STRATEGIES THAT DRIVE ECONOMIC DEVELOPMENT AND ACHIEVE PROSPERITY FOR ALL. THIS APPROACH IS CALLED DIGITAL ADVANCEMENT, THE MOBILIZATION OF TECHNOLOGY'S POTENTIAL TO LIFT THE HUMAN CONDITION.THE DIGITAL ADVANCEMENT MUNICIPAL INDEX (MUNI INDEX) IS A TOOL DESIGNED TO MEASURE U.S. CITIES' PROGRESS TOWARD SHARED PROSPERITY. USING 16 INDICATORS FROM FOUR CATEGORIES TECHNOLOGY, SOCIOECONOMICS, EDUCATION, AND HOUSING, THE MUNI INDEX CAPTURES AND COMPARES A CITY'S OVERALL PROSPERITY AND DIGITAL EQUITY METRICS ACROSS NEARLY U.S. CITIES WITH POPULATIONS OVER 65,000. OUR REFRESHED INDEX INCLUDES UPDATED DATA FOR 540 CITIES, FRESH INSIGHTS, AND NEW VISUALIZATIONS.IN 2024, BUILDING OFF OF THE SUCCESSFUL RELEASE OF THE V2.0 OF THE MUNI INDEX, WE STRENGTHENED OUR COMMITMENT TO SHARING DATA INSIGHTS FOR A NATIONAL AUDIENCE. WE INITIATED THE DEVELOPMENT OF A NEW AND COMPLIMENTARY ADDITION TO THE INDEX: AN INTERACTIVE MAP. WE SEEK TO DESIGN A MORE ACCESSIBLE, COMPELLING, AND VISUALLY ENGAGING TOOL THAT PROVIDES CITIES AND OTHER PRACTITIONERS A CLEARER, MORE IMPACTFUL VIEW OF KEY LOCAL INFORMATION.WE COLLABORATED WITH EXTERNAL STAKEHOLDERS TO REFINE AND ENHANCE THE MUNICIPAL INDEX, ACTIVELY GATHERING THE INPUT AND INSIGHTS OF OUR PEERS. ENGAGING IN MEANINGFUL DISCUSSIONS WITH REPRESENTATIVES FROM LOCAL AND STATE GOVERNMENTS, NATIONAL NONPROFITS, AND THE PRIVATE SECTOR ALLOWED US TO GATHER VALUABLE FEEDBACK ON USER NEEDS, USABILITY, AND DATA RELEVANCE. THESE DIALOGUES ENABLED US TO MAKE INFORMED IMPROVEMENTS TO THE TOOLS, ALIGNING WITH OUR END GOAL OF SUPPORTING DATA-DRIVEN DECISION MAKING.WE PRESENTED AT THE NATIONAL DIGITAL INCLUSION ALLIANCE'S 2024 NET INCLUSION CONFERENCE, WHERE OVER 1300 POLICYMAKERS, INTERNET SERVICE PROVIDERS, ADVOCATES, RESEARCHERS, EVALUATORS AND COMMUNITY PARTNERS GATHERED TO SHARE KNOWLEDGE AND DISCUSS BEST PRACTICES ON DIGITAL INCLUSION. WE ASSEMBLED A PANEL OF KEY STAKEHOLDERS WHO HAVE BEEN INSTRUMENTAL IN DEVELOPING THE DIGITAL ADVANCEMENT INSTITUTE, INCLUDING REPRESENTATIVES FROM THE FEDERAL RESERVE BANK OF PHILADELPHIA, NEXT CENTURY CITIES, THE ILLINOIS BROADBAND LAB AND THE CITY OF PHILADELPHIA. ALONGSIDE CTF PRESIDENT MARTA URQUILLA, WHO MODERATED THE PANEL, THE SPEAKERS DISCUSSED STRATEGIES FOR ACCESSING DATA AND LEVERAGING TOOLS LIKE THE MUNICIPAL INDEX TO MAKE STRIDES TOWARDS MEANINGFUL DIGITAL ADVANCEMENT.LOOK AHEAD: AS WE MOVE FORWARD, WE REMAIN COMMITTED TO USING DATA AS A POWERFUL RESOURCE TO SUPPORT DECISIONS IN PROGRESSING TOWARDS DIGITAL ADVANCEMENT. WE WILL UPDATE THE INDEX WITH NEW PUBLIC DATA AND ENGAGE WITH PARTNERS ACROSS GOVERNMENT, THE PRIVATE SECTOR, PHILANTHROPY AND NONPROFITS. A KEY PRIORITY WILL BE THE STRATEGIC PROMOTION AND AMPLIFICATION OF THE INDEX TO MAXIMIZE ITS REACH AND IMPACT, SUCH AS OPPORTUNITIES TO SHOWCASE THE TOOL AND ITS IMPACT TO NEW AND DIVERSE AUDIENCES. WE WILL SEEK STRATEGIC PARTNERSHIPS TO ENHANCE THE TOOL AND SECURE FUNDING TO FURTHER DEVELOP AND REFINE ITS CAPABILITIES, INCLUDING THE INTEGRATION OF COMMUNITY DATA.

    Expenses $703,578 · Grants $42,336

  • SOCIAL JUSTICE INNOVATION AWARDS IN 2024, THE CENTRI TECH FOUNDATION, IN PARTNERSHIP WITH MORGAN STANLEY, CONVENED AND PROVIDED LEADERSHIP COACHING AND MENTORING TO THE 2023 FELLOWS OF THE SOCIAL JUSTICE INNOVATION AWARDS (SJIA), A PROGRAM NOW IN ITS THIRD YEAR THAT AIMS TO IDENTIFY AND INVEST IN BREAKTHROUGH IDEAS FOR SOCIAL JUSTICE. OVER 2022 AND 2023, CTF RE-GRANTED $2.75M ALONG WITH SUPPORT TO 11 INNOVATORS WHO ARE LEADING TECH-BASED SOLUTIONS FOR A VARIETY OF SOCIAL CHALLENGES FROM YOUTH MENTAL HEALTH TO ACCESS TO TECHNOLOGY, EDUCATION, PUBLIC BENEFITS, SECOND CHANCE OPPORTUNITIES, AND INDIGENOUS LANGUAGE PRESERVATION. THE 2023 WINNERS OF THE SJIA EACH RECEIVED GRANTS AND BESPOKE SUPPORT TO DEVELOP THEIR INNOVATIONS. THEY JOINED A 9-MONTH FELLOWSHIP COHORT DESIGNED TO PROMOTE COLLABORATION, BUILD LEADERSHIP CAPACITY, AND INCREASE THEIR ACCESS TO NETWORKS. THE FELLOWSHIP COMMENCED WITH AN IN-PERSON CONVENING IN WASHINGTON, D.C., IN SEPTEMBER 2023. FROM OCTOBER 2023 - JUNE 2024, THE COHORT CONNECTED WITH LEADING EXPERTS FOR STRATEGIC SESSIONS FOCUSED ON TECHNOLOGY, LEADERSHIP AND MANAGEMENT AND PARTICIPATED IN ONE-ON-ONE COACHING SESSIONS WITH A TRANSFORMATIONAL LEADERSHIP DEVELOPMENT EXPERT. - CTF AND THE SJIA FELLOWS ATTENDED TWO LEADERSHIP SESSIONS WITH EXECUTIVES FROM MORGAN STANLEY TO DISCUSS GENERATIVE AI AND INCLUSIVE ENTREPRENEURSHIP. CTF OPENED THE 2024 SOCIAL JUSTICE INNOVATION AWARDS, EXTENDING A CALL FOR NOMINATIONS TO A NATIONAL NETWORK OF SUBJECT MATTER EXPERTS AND SOCIAL JUSTICE PRACTITIONERS. OVER 100 APPLICATIONS WERE RECEIVED, FEATURING AI MODELS AND OTHER APPROACHES TO CHALLENGES SUCH AS CLIMATE CHANGE, WORKFORCE DEVELOPMENT, AND HEALTH. APPLICATIONS WERE EVALUATED BY AN EXTERNAL REVIEW PANEL, FOLLOWED BY SEMI-FINALIST INTERVIEWS. LOOK AHEAD: IN 2025, WE WILL SELECT AND ANNOUNCE THE PROGRAM'S THIRD COHORT; IMPLEMENT THE COHORT EXPERIENCE; SECURE PARTNERSHIPS AND SUPPORT TO ENHANCE THE PROGRAM; MEASURE, DOCUMENT, AND SHARE PROGRAM OUTCOMES; AND PURSUE FUTURE FUNDING AND SUPPORT.

    Expenses $217,780 · Grants $52,090

  • DIGITAL INTEGRATORS PROGRAM BUILDING ON OUR DIGITAL INTEGRATORS PROGRAM, CTF LAUNCHED NEW DIGITAL TOOLS FOR JOB SEEKERS IN BALTIMORE AND PHILADELPHIA AS PART OF COMMUNITY SKILLS CONNECT, AN INITIATIVE TO HELP LOW-INCOME RESIDENTS NAVIGATE LOCAL WORKFORCE DEVELOPMENT RESOURCES AND ACCESS DIGITAL SKILLS TRAINING. WITH SUPPORT PROVIDED BY VERIZON'S COMMUNITY ENHANCEMENT AWARD IN THE FALL OF 2023, CTF WAS ONE OF 10 GRANTEES HELPING FULFILL VERIZON'S $1 MILLION NATIONAL INITIATIVE TO ENSURE COMMUNITIES HAVE ACCESS TO THE TOOLS AND SKILLS TO NAVIGATE AN INCREASINGLY TECHNOLOGICAL WORLD. IN 2024, CTF DEVELOPED COMMUNITY SKILLS CONNECT, A NEW DIGITAL WORKFORCE DEVELOPMENT INITIATIVE TO CONNECT LOW-INCOME JOB SEEKERS IN BALTIMORE, MD, PHILADELPHIA, PA, AND WASHINGTON, DC TO DIGITAL SKILLS TRAINING OPPORTUNITIES AND LOCAL WORKFORCE DEVELOPMENT RESOURCES. WORKING WITH COMMUNITY PARTNERS IN EACH CITY, THE INITIATIVE AIMS TO HELP LOW-INCOME RESIDENTS NAVIGATE LOCAL WORKFORCE DEVELOPMENT RESOURCES, ACCESS DIGITAL SKILLS TRAINING, AND IDENTIFY PATHWAYS FOR JOBS AND CAREERS ON THE LOCAL LEVEL. IN MAY 2024, WE SELECTED OUR ON THE GROUND COMMUNITY PARTNERS AND RE-GRANTED A PORTION OF THE VERIZON AWARD DOLLARS TO SUPPORT THEIR PARTICIPATION. PHILADELPHIA'S TECHNOLOGY LEARNING COLLABORATIVE IS A NONPROFIT COALITION PROVIDING PROFESSIONAL DEVELOPMENT AND CAPACITY BUILDING FOR PRACTITIONERS AND ADVOCATING FOR DIGITALLY INCLUSIVE COMMUNITIES. THE BALTIMORE DIGITAL EQUITY COALITION IS A NONPROFIT HELPING INDIVIDUALS AND ORGANIZATIONS WORK TOGETHER TO BRING VITAL DIGITAL EQUITY RESOURCES TO THE CITY'S MOST DISCONNECTED RESIDENTS. OUR PARTNERS' SHARED GOAL IS TO HELP STREAMLINE RESIDENTS' JOURNEYS TOWARD ECONOMIC OPPORTUNITY, FROM GAINING DIGITAL LITERACY TO ADOPTING EMERGING TECH FOR THE WORKPLACE AND WEALTH BUILDING, TO EARNING CREDENTIALS FOR JOBS AND CAREERS. IN OCTOBER 2024, WE OFFICIALLY LAUNCHED THE COMMUNITY SKILLS CONNECT PLATFORM ACROSS OUR NETWORKS, IN COLLABORATION WITH OUR PARTNERS. WE PRODUCED CUSTOMIZED AND LOCALIZED WEBSITES FOR EACH CITY, PHILADELPHIA AND BALTIMORE, THAT ARE DEPLOYED VIA THE CENTRI LIFE DIGITAL SERVICES PLATFORM. EACH LOCAL SITE HAS BEEN CO-BRANDED WITH OUR COMMUNITY PARTNERS IN EACH CITY AND FEATURES DIGITAL SKILLS TRAINING AND OTHER LOCAL WORKFORCE DEVELOPMENT OPPORTUNITIES. THESE NEW SITES ARE AIMED TO HELP LOCAL JOB SEEKERS BETTER NAVIGATE AND ACCESS SERVICES, RESOURCES, AND INFORMATION IN THEIR COMMUNITIES, AND WILL AID OUR GRANTEE PARTNERS IN PROMOTING THEIR SERVICES TO COMMUNITY RESIDENTS. ADDITIONALLY, WE BROUGHT NEW MODELS FOR DIGITAL SKILLS EDUCATION DIRECTLY TO RESIDENTS IN WASHINGTON, DC'S WARDS 7 AND 8. IN MAY 2024, WE COLLABORATED WITH SERVICE PROVIDER MARTHA'S TABLE AND THE BLACK UPSTART, A NONPROFIT DEDICATED TO PROMOTING BLACK ENTREPRENEURSHIP, TO HOST AN AI FOR ENTREPRENEURS WORKSHOP IN WASHINGTON, DC. WE AWARDED SCHOLARSHIPS AND LAPTOPS TO 33 ASPIRING BUSINESS OWNERS, AGES 17 TO 70+. THESE ENTREPRENEURS WITH LITTLE TO NO TECH EXPERIENCE CAME TOGETHER TO LEARN HOW TO USE AI TO DESIGN, DEVELOP, AND MARKET PRODUCTS FOR THEIR PROPOSED VENTURES. AS A RESULT, 93% LEARNED TO USE AI FOR THE FIRST TIME, 87% PLAN TO PURSUE FURTHER TRAINING AND CERTIFICATIONS, AND 54% PLAN TO START THEIR OWN BUSINESS OR SIDE HUSTLE. LOOKING AHEAD: A SECOND AI FOR ENTREPRENEURS WORKSHOP EVENT WILL BE HELD FOR ASPIRING ENTREPRENEURS IN WASHINGTON, DC. WHILE OUR DIGITAL PLATFORMS HAVE OFFICIALLY LAUNCHED, THEY REMAIN IN PILOT MODE ACROSS BALTIMORE AND PHILADELPHIA, ALLOWING US TO COLLECT ESSENTIAL USER DATA AND FEEDBACK. THIS DATA WILL PROVIDE INSIGHT INTO HOW RESIDENTS ARE INTERACTING WITH THE PLATFORM, INFORMING FURTHER ENHANCEMENTS TO BETTER MEET THE NEEDS OF OUR COMMUNITIES. CTF IS PURSUING OPPORTUNITIES TO PROVIDE AI SKILLS TRAINING FOR YOUTH IN WASHINGTON DC TO INCREASE THEIR EMPLOYABILITY AND ECONOMIC MOBILITY.

    Expenses $157,765

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rey Ramsey

    CHAIR

    Total calculated
    $0
    Hours/week
    5
  • Wendell Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Clyde Edwards

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Marta Urquilla

    PRESIDENT

    Total calculated
    $203,256
    From this org
    $181,138
    From related orgs
    $0
    Other
    $22,118
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,138
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,118
    Filer's total
    $203,256
  • Michael Staples

    TREASURER & SECRETARY

    Total calculated
    $0
    Hours/week
    5
  • Steven Teplitz

    GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    5

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 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

Provenance

Return type
form_990
Tax year
2024
Filed
14 April 2025
IRS schema version
2024v5.1
Source object
202501059349301805

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