Tech Foundation Inc
- Assets
- $1.1m
- Revenue
- $975.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- 02/2001
- Data as of
- 12/2021
- EIN
- 04-3547092
Organization Overview
Tech Foundation Inc is located in Cambridge, MA. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech Foundation 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 12/2021, Tech Foundation Inc generated $975.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.8% each year . All expenses for the organization totaled $735.9k during the year ending 12/2021. While expenses have increased by 23.0% per year over the past 7 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.
Since 2014, Tech Foundation Inc has awarded 36 individual grants totaling $908,030. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DELIVER TECHNOLOGY, EXPERTISE, AND CAPITAL TO HELP NONPROFIT ORGANIZATIONS HARNESS THE POWER OF INFORMATION TECHNOLOGY TO SERVE HUMANITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHGRANTS - A GRANT PROGRAM THAT PROVIDES NONPROFIT ORGANIZATIONS WITH ACCESS TO CAPITAL AND HELP FULFILL THEIR TECHNOLOGY NEEDS AND ACHIEVE THEIR MISSIONS. TECHGRANTS IN THE FORM OF RESTRICTED OR UNRESTRICTED GRANTS ARE MADE BOTH DIRECTLY TO NONPROFITS AND INDIRECTLY THROUGH LOCAL COMMUNITY FOUNDATIONS AND/OR DONOR ADVISED FUNDS TO HELPING CATALYZE SUPPORT FOR TECHNOLOGY AT NONPROFITS. SIXTEEN TECHGRANTS AND 19 SCHOLARSHIPS WERE DISTRIBUTED IN 2021.
COVID RESPONSE ASSISTANCE - WHEN THE COVID-19 PANDEMIC BROKE OUT IN EARLY 2020, TECHFOUNDATION STARTED AN INITIATIVE WITH A COMPANY TO ADDRESS THE PANDEMIC FOR NON-PROFITS IN THE NEW ENGLAND AREA, WITH A FOCUS ON TECHNOLOGY INCLUDING BIOPROTECTION. ALTHOUGH THIS ISN'T TYPICAL UNDER THE MISSION, THE ORGANIZATION SAW AN OPPORTUNITY TO HELP WHERE NEEDED MOST DURING THIS UNPRECEDENTED TIME.
TECH MARKET PLACE - PROVIDE DISCOUNTED AND DONATED TECHNOLOGY AND SERVICES TO NONPROFIT ORGANIZATIONS AND PROVIDE NETWORKING AND EDUCATION SEMINARS THAT PROVIDE EXPERTISE FOR NONPROFIT INFORMATION TECHNOLOGY LEADERS AND SENIOR MANAGERS AND FUNDERS.
IT CONSULTING - A PROGRAM THAT OFFERS IT CONSULTING SERVICES TO OTHER NONPROFIT ORGANIZATIONS. THESE SERVICES AID WITH SUCH PROJECTS AS NETWORK CONFIGURATIONS, E-MAIL SET-UP, AND HARDWARE AND SOFTARE EVALUATION AND IMPLEMENTATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Altshuler Chief Exec. | OfficerTrustee | $0 | |
Brian Allain Director | Trustee | $0 | |
D Andrew Stackpole Director | Trustee | $0 | |
Alexander Webb Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $975,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $975,000 |
| 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 | $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 | $975,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $77,000 |
| Grants and other assistance to domestic individuals. | $88,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $90,973 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,447 |
| Fees for services: Accounting | $6,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,322 |
| Advertising and promotion | $0 |
| Office expenses | $6,118 |
| Information technology | $25,233 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,046 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,293 |
| Insurance | $2,884 |
| All other expenses | $134 |
| Total functional expenses | $735,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $915,881 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,378 |
| 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 | $126,573 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,061,832 |
| Accounts payable and accrued expenses | $3,102 |
| 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 | $3,102 |
| Net assets without donor restrictions | $1,058,730 |
| 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 | $1,061,832 |
Grants Awarded
Over the last fiscal year, Tech Foundation Inc has awarded $75,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BRIAN SKERRY PHOTOGRAPHY LLC PURPOSE: GULF OF MAINE FUNDS | $50,000 |
Tamworth, NH PURPOSE: ECO-PROJECT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Tech Foundation Inc has recieved totaling $800,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $400,000 |
Vanguard Charitable Endowment Program Southeastern, PA PURPOSE: FOR RECIPIENT'S EXEMPT PURPOSE | $400,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |