Ntec For Technology Inc is located in Frisco, TX. As of 08/2017, Ntec For Technology Inc employed 5 individuals. Ntec For Technology Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2017, Ntec For Technology Inc generated $270.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (33.0%) each year. All expenses for the organization totaled $468.1k during the year ending 08/2017. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTS ENTREPRENEURS WITH STARTING AND GROWING NEW MEDICAL TECHNOLOGY VENTURES.SIGNIFICANT ACTIVITIES INCLUDE A FACILITY DESIGNED FOR STARTUPCOMPANIES, INTERNAL PROGRAMS, INVESTMENT FORUMS, AND OTHER TRAININGPROGRAMS; HANDS ON ASSISTANCE WITH MANAGEMENT, OPERATIONS, REGULATORYMATTERS, MANUFACTURING & QC, FUNDING AND STAFFING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS SERVICES: NTEC PROVIDES BUSINESS COACHING, CONSULTING,REFERRALS, AND OTHER ASSISTANCE AS MAY BE REQUIRED BY ITS PROGRAMCOMPANIES TO ACCELERATE THEIR GROWTH AND INCREASE THEIR ODDS OFSUCCESS. NTEC'S DIRECT ASSISTANCE INCLUDES BUSINESS MANAGEMENT,OPERATIONS, FINANCE AND ACCOUNTING, FUNDRAISING, REGULATORY MATTERS,MANUFACTURING AND QUALITY CONTROL, STAFFING, SUPPORT NETWORKS,REFERRALS, AND ENTREPRENEURIAL EDUCATION. BUSINESS SERVICES ARETAILORED TO MEET THE SPECIFIC NEEDS AND STAGE OF DEVELOPMENT OF EACHCOMPANY.NTEC RECEIVES NUMEROUS PERSONAL INQUIRIES DURING THE YEAR. THE TEAM REVIEWS EXECUTIVE SUMMARIES, BUSINESS PLANS, STARTUP COMPANY PITCHES AND PRESENTATIONS. OF THESE NTEC SELECTS COMPANIES FOR COACHING, MAKES REFERRALS TO INVESTORS AND OTHER SOURCES OF FUNDING. THESE ACTIVITIES ARE PROVIDED BY THE FULL TIME STAFF AS WELL AS NUMEROUS MENTORS AND VOLUNTEERS.
FACILITY SERVICES: NTEC PROVIDES A FULL SERVICE FACILITY FOR INCUBATINGCOMPANIES. THE FACILITY HAS ALL OF THE SERVICES A COMPANY REQUIRES INORDER TO ACCELERATE ITS GROWTH, INCLUDING OFFICE SPACE, ADMINISTRATIVESERVICES, LAB AND TECHNICAL SPACE. THE FACILITY AND SERVICES AREFLEXIBLE TO MEET THE NEEDS OF STARTUP COMPANIES. THE FACILITY ALSOPROVIDES FOUNDING TEAMS THE OPPORTUNITY TO INTERACT WITH SEASONEDPROFESSIONALS, SERVICE PROVIDERS, AND CAPITAL PROVIDERS TO ADDRESSSTRATEGIC AND TACTICAL ISSUES.THE FACILITY IS A 50,000 SQUARE FOOT ENTERPRISE CENTER THAT INCLUDES LAB SPACE, FURNISHED OFFICES, HIGH TECH FLEX-SPACE, CUBICLES, CONFERENCE SPACE AND MEETING ROOMS, KITCHEN AND BREAK ROOMS, 24 HOUR ACCESS TO SECURED BUILDING, AND SHARED RECEPTION. THE BUILDING INFRASTRUCTURE INCLUDED HIGH SPEED INTERNET ACCESS, WIRELESS IN-OFFICE CONNECTIVITY, DATA AND DIGITAL/IP TELEPHONE COMMUNICATIONS, STATE-OF-THE-ART PRESENTATION AND PROJECTION EQUIPMENT, VIDEO SURVEILLANCE, NETWORKED PRINTING AND SHARED PRINTERS. THE FACILITY CAN ACCOMODATE UP TO 150 OCCUPANTS
EDUCATION: NTEC PROVIDES EDUCATIONAL PROGRAMS, SEMINARS AND OUTREACHPROGRAMS, INCLUDING CEO ROUNDTABLES, BROWN-BAG LUNCH PANEL DISCUSSIONS,STAKEHOLDER MEETINGS, INVESTMENT FORUMS, AND OTHER TRAINING PROGRAMS.NTEC ALSO PARTICIPATES IN OUTWARD-FACING EVENTS SUCH AS MEDICAL DEVICEACTION ALLIANCE, BUSINESS PLAN COMPETITIONS, ANGEL FUNDING FORUMS,TECHNOLOGY AWARD EVENTS AND OTHER GENERAL TECHNOLOGY ANDENTREPRENEURIAL SEMINARS AND TRAINING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Scott Freeman Director | Trustee | 2 | $0 |
Ken Hawari Director | Trustee | 2 | $0 |
Mollie Mossman Director | Trustee | 2 | $0 |
Jaime Ronderos Director | Trustee | 2 | $0 |
Dan Bollner Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $257,500 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $257,500 |
Total Program Service Revenue | $0 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$1,925 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $270,170 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $395,210 |
Compensation of current officers, directors, key employees. | $79,042 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,416 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $23,597 |
Payroll taxes | $26,696 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $8,176 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $3,250 |
Information technology | $2,525 |
Royalties | $0 |
Occupancy | $0 |
Travel | $4,300 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,420 |
Insurance | $1,226 |
All other expenses | $290 |
Total functional expenses | $468,106 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $0 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Unrestricted restricted net Assets | $0 |
Temporarily restricted net Assets | $0 |
Permanently restricted net Assets or current funds | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total net assets or fund balances | $0 |