1edtech Consortium Inc
- Assets
- $12.1m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 43
- Location
- Lake Mary, FL
- Founding
- 01/2003
- Data as of
- 12/2022
- EIN
- 04-3489277
Organization Overview
1edtech Consortium Inc is located in Lake Mary, FL. The organization was established in 2003. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, 1edtech Consortium Inc employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1edtech Consortium Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, 1edtech Consortium Inc generated $6.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $7.9m during the year ending 12/2022. While expenses have increased by 14.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
1EDTECH'S MISSION IS TO POWER LEARNER POTENTIAL BY FOSTERING THE EVOLUTION OF AN OPEN, TRUSTED, INNOVATIVE EDUCATION TECHNOLOGY AND DIGITAL CREDENTIALS ECOSYSTEM. WE PROVIDE THE LEADERSHIP AND COLLABORATION NEEDED TO SHAPE THE FUTURE OF EDUCATION. THROUGH COMMUNITY-DEVELOPED OPEN STANDARDS, WE ENABLE DIGITAL LEARNING CONNECTIVITY, DATA INSIGHTS, AND IMPROVED PRODUCT CHOICE. WE ESTABLISH TRUST AND TRANSPARENCY IN EDTECH PARTNERSHIPS THROUGH COMMUNITY-GOVERNED CERTIFICATION PROGRAMS THAT VERIFY STRINGENT REQUIREMENTS FOR PRODUCT INTEGRATIONS, DATA PRIVACY, AND ACCESSIBILITY. WE ACCELERATE THE ADOPTION OF NEW TECHNOLOGIES THAT ADVANCE DIGITAL LEARNING TO MEET THE EVOLVING NEEDS OF EDUCATORS AND LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF AND APPROVAL OF STANDARDS TO ENABLE INTEROPERABILITY AND ADOPTION OF LEARNING AND EDUCATIONAL TECHNOLOGY.
1EDTECH AND CASE REGISTRY - TO DEVELOP SOFTWARE FOR SCHOOLS THAT WILL BE A SECURE TRUSTED CLOUD-BASED REGISTRY AND CONNECTION SERVICE ENABLING ANY EDUCATIONAL TECHNOLOGY PROVIDER TO CONNECT TO ANY SCHOOL DISTRICT'S LEARNING PLATFORM, PORTAL, OR STUDENT SYSTEM USING THE 1EDTECH STANDARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Abel Chief Executive Officer | OfficerTrustee | 40 | $348,000 |
Timothy Beekman Director | Trustee | 1 | $0 |
Gwendolyn Britton Director | Trustee | 1 | $0 |
Thomas Cavanagh Director | Trustee | 1 | $0 |
Annie Chechitelli Director | Trustee | 1 | $0 |
Jim Chilton Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,652,310 |
| Fundraising events | $0 |
| Related organizations | $71,791 |
| Government grants | $0 |
| 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 | $5,724,101 |
| Total Program Service Revenue | $1,056,632 |
| Investment income | $46,445 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,827,178 |
| 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. | $816,880 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,234,411 |
| Pension plan accruals and contributions | $189,142 |
| Other employee benefits | $408,570 |
| Payroll taxes | $298,841 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,697 |
| Fees for services: Accounting | $24,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,241 |
| Advertising and promotion | $11,580 |
| Office expenses | $12,461 |
| Information technology | $66,253 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $435,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $731,472 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $400,941 |
| Insurance | $32,511 |
| All other expenses | $17,143 |
| Total functional expenses | $7,920,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,690,435 |
| Savings and temporary cash investments | $5,684,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $254,664 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $222,770 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $128,505 |
| Net Land, buildings, and equipment | $163,092 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,144,014 |
| Accounts payable and accrued expenses | $104,611 |
| Grants payable | $0 |
| Deferred revenue | $3,143,468 |
| 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 | $301,359 |
| Total liabilities | $3,549,438 |
| Net assets without donor restrictions | $8,594,576 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,144,014 |