Skip to content
Nonprofiteer
← TECH VALLEY CENTER OF GRAVITY INCORPORATED

Form 990 for tax year 2024

Filed by TECH VALLEY CENTER OF GRAVITY INCORPORATED.

Totals

Total revenue
$464,981
Total expenses
$483,266
Contributions and grants received
$400,614
Grants paid
$0
Program service revenue
$64,365
Investment income
$0
Other revenue
$2
Total assets, end of year
$832,032
Total liabilities, end of year
$845,723
Net assets or fund balances, end of year
-$13,691
Program services expenses (Part IX)
$423,911
Management and general expenses
$58,095
Fundraising expenses
$1,260
Program service expenses (Part III)
$423,911

Program services were 87.7% 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

    $152,060

  • 1e · Government grants (contributions)

    $228,720

  • 1f · All other contributions, gifts and grants

    $19,834

  • 2a · Program service revenue: PROGRAM SERVICE REVENU

    total $41,112 · related or exempt $41,112

  • 2b · Program service revenue: FACILITY AND EQUIPMENT

    total $23,253 · related or exempt $23,253

  • 11a · Other revenue: MISCELLANEOUS

    total $2 · related or exempt $2

  • 11e · Other revenue, total

    $2

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $63,600 · program services $63,600

  • 7 · Other salaries and wages

    total $92,558 · program services $69,418 · management and general $23,140

  • 9 · Other employee benefits

    total $1,561 · program services $955 · management and general $606

  • 10 · Payroll taxes

    total $12,715 · program services $10,831 · management and general $1,884

  • 11a · Fees: management

    total $13,346 · program services $13,096 · management and general $250

  • 11b · Fees: legal

    total $250 · management and general $250

  • 11c · Fees: accounting

    total $9,000 · management and general $9,000

  • 12 · Advertising and promotion

    total $1,026 · program services $1,026

  • 13 · Office expenses

    total $8,071 · program services $4,580 · management and general $3,491

  • 14 · Information technology

    total $1,345 · program services $1,345

  • 16 · Occupancy

    total $164,753 · program services $156,662 · management and general $8,091

  • 17 · Travel

    total $1,827 · program services $1,827

  • 20 · Interest

    total $9,480 · management and general $9,480

  • 23 · Insurance

    total $10,437 · program services $8,350 · management and general $2,087

  • 24a · Other expenses: REIMBURSEMENTS

    total $54,482 · program services $54,482

  • 24b · Other expenses: MISCELLANEOUS FEES

    total $18,787 · program services $18,971 · management and general -$184

  • 24c · Other expenses: CLASS & EVENT MATERIALS

    total $13,235 · program services $13,235

  • 24d · Other expenses: CREDIT CARD PROCESSING

    total $5,533 · program services $5,533

  • 24e · All other expenses

    total $1,260 · fundraising $1,260

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $122,635 · end of year $107,457

  • 4 · Accounts receivable

    beginning of year $31,183 · end of year $15,934

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

    $328,328

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

    $277,076

  • 10c · Land, buildings and equipment, net

    beginning of year $67,162 · end of year $51,252

  • 15 · Other assets

    beginning of year $160,939 · end of year $657,389

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,352 · end of year $17,896

  • 19 · Deferred revenue

    end of year $5,575

  • 23 · Secured mortgages and notes payable

    beginning of year $27,772 · end of year $15,381

  • 24 · Unsecured notes and loans payable

    beginning of year $155,048 · end of year $148,587

  • 25 · Other liabilities

    beginning of year $161,153 · end of year $658,284

  • 27 · Net assets without donor restrictions

    beginning of year $4,594 · end of year -$13,691

Mission and programs · 2024

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 $423,911 · Revenue $41,112

As filed on the 2024 return.

Listed in Part VII

  • Courtney Wade

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Kit Clemente

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Dylan Thies

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Danee Zeigler

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Sam Bonfante

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Holly Cargill-Cramer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joanne Fernandez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Eric Ledet Ph D

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jessica Otitigbe

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tim Rozmierski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Dan Falkenstrom

    FACILITIES DIRECTOR

    Total calculated
    $63,600
    From this org
    $63,600
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202533189349312793

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.