Orange County Technology Action Network
- Assets
- $4.6m
- Revenue
- $2.9m
- Investments
- $629.6k
- Employees
- 21
- Location
- Newport Beach, CA
- Founding
- 02/2003
- Data as of
- 12/2021
- EIN
- 04-3723991
Organization Overview
Orange County Technology Action Network, operating under the name Octane, is located in Newport Beach, CA. 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 12/2021, Octane employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Octane 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 12/2021, Octane generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 8.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CONNECTING PEOPLE AND IDEAS WITH CAPITAL & RESOURCES TO DRIVE TECHNOLOGY GROWTH IN ORANGE COUNTY, CA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL TECHNOLOGY INNOVATION FORUM (MTIF): IS THE LEADING MEDTECH INDUSTRY CONFERENCE IN THE WEST. IT'S WHERE INDUSTRY LEADERS, ENTREPRENEURS, AND INVESTORS COME TOGETHER IN THE NATION'S MOST DYNAMIC MEDICAL DEVICE ENVIRONMENT TO SEE THE LATEST TECHNOLOGIES AND INVESTMENT TRENDS.
TECHNOLOGY INNOVATION FORUM (TIF): SHOWCASES THE BEST OF SOUTHERN CALIFORNIA INNOVATION. FROM INVESTMENT PRESENTATIONS TO KEYNOTESPEAKERS TO INDUSTRY DISCUSSIONS, THIS IS SOCAL'S PREMIER INVESTMENTCONFERENCE.
OPHTHALMOLOGY TECHNOLOGY SUMMIT (OTS): THIS EVENT CREATES A LOCAL FORUM WHERE LEADING OPHTHALMOLOGY, TECHNOLOGISTS, RESEARCHERS, CLINICIANS, AND ENTREPRENEURS CAN COME TOGETHER TO DISCUSS CURRENT INDUSTRY TRENDS, UNMET CLINICAL NEEDS, AND NEW BUSINESS OPPORTUNITIES ALL TO FUEL THE OPHTHALMOLOGY ECOSYSTEM IN ORANGE COUNTY, CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Carpou Ceo/president | OfficerTrustee | 39.5 | $463,437 |
Janelle Brunette Chief Administrative Offic | OfficerTrustee | 39.5 | $244,163 |
Teresa Madden Dir. Of Partner Relations | 39.5 | $140,861 | |
David Inchoul Beck Director Of Launchpad & Investor Relations | 39.5 | $137,749 | |
Cara B Schwarz Dir. Of Marketing | 39.5 | $122,947 | |
Rita Cristina Battocchio Head Of Events | 39.5 | $111,883 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $491,067 |
| 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 | $491,067 |
| Total Program Service Revenue | $2,852,132 |
| Investment income | -$503,032 |
| 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 | $2,881,161 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $69,332 |
| 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. | $734,086 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $471,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $111,158 |
| Payroll taxes | $96,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,161 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,865 |
| Advertising and promotion | $3,927 |
| Office expenses | $31,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,314 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $136,561 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,679 |
| Insurance | $3,408 |
| All other expenses | $0 |
| Total functional expenses | $2,447,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,837,060 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,887 |
| 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 | $160,911 |
| Net Land, buildings, and equipment | $191,882 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $629,556 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $708,979 |
| Total assets | $4,643,275 |
| Accounts payable and accrued expenses | $963,080 |
| Grants payable | $0 |
| Deferred revenue | $1,305,621 |
| 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 | $146,695 |
| Other liabilities | $0 |
| Total liabilities | $2,415,396 |
| Net assets without donor restrictions | $0 |
| 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 | $2,227,879 |
| Total liabilities and net assets/fund balances | $4,643,275 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Orange County Technology Action Network has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Scan Health Plan Long Beach, CA PURPOSE: DONATION FOR ORGANIZATION TO FURTHER SCAN'S MISSION TO KEEP SENIORS HEALTHY AND INDEPENDENT. | $8,000 |
Endowment Analysis
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|---|---|---|
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National Council For Prescription Drug Programs Inc Scottsdale, AZ | $21,339,680 | $12,526,720 |
Travel Portland Portland, OR | $18,865,244 | $9,767,566 |
California Society Of Certified Public Accountants Burlingame, CA | $29,880,424 | $13,544,885 |
Scottsdale Convention And Vistors Bureau Inc Scottsdale, AZ | $8,006,659 | $12,242,411 |
Sustainable Apparel Coalition Inc Oakland, CA | $12,069,125 | $10,210,019 |
Portland Business Alliance Portland, OR | $2,909,182 | $8,830,293 |
California Certified Public Accountants Foundation Burlingame, CA | $12,236,942 | $9,436,468 |
California Life Sciences Association San Diego, CA | $8,698,147 | $9,649,305 |