Connecticut Technology Council Inc
- Assets
- $145.4k
- Revenue
- $96.4k
- Investments
- $0.0
- Employees
- 1
- Location
- East Hartford, CT
- Founding
- 11/1994
- Data as of
- 12/2021
- EIN
- 06-1387547
Organization Overview
Connecticut Technology Council Inc is located in East Hartford, CT. The organization was established in 1994. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connecticut Technology Council 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 12/2021, Connecticut Technology Council Inc generated $96.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (28.7%) each year. All expenses for the organization totaled $133.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (25.0%) per year over the past 7 years. 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
BUILD A TECHNOLOGY NETWORK TO PARTNER TECHNOLOGY RESOURCES FOR THE MUTUAL BENEFIT OF MEMBER INSTITUTIONS AND LEVERAGE MEMBERS' COLLECTIVE POWER TO CREATE A STATE INFRASTRUCTURE CONDUCIVE TO TECHNOLOGY AND DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM 1: WOMEN OF INNOVATION - NOW IN ITS FIFTEENTH SEASON, THIS POPULAR AWARDS PROGRAM GATHERS THE CONNECTICUT TECHNOLOGY COMMUNITY TO RECOGNIZE WOMEN IN THE WORKFORCE WHO ARE INNOVATORS,ROLE MODELS AND LEADERS IN THE TECHNOLOGY, SCIENCE AND ENGINEERING FIELDS. STUDENTS AT BOTH THE HIGH SCHOOL AND COLLEGE LEVEL ARE ALSO HONORED FOR THEIR STUDIES AND ACCOMPLISHMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Simon Litcher Executive Di | Officer | 40 | $54,625 |
Richard Harris Secretary | OfficerTrustee | 0.25 | $0 |
Giovanni Tomasi Chair | OfficerTrustee | 0.25 | $0 |
Sheryl O'connor Vice Chair | OfficerTrustee | 0.25 | $0 |
Matthew Cohen Vice Chair | OfficerTrustee | 0.25 | $0 |
Sheri Yuschak Treasury | OfficerTrustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000 |
| 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 | $5,000 |
| Total Program Service Revenue | $91,417 |
| 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 | $96,437 |
| 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. | $54,625 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,247 |
| Other employee benefits | $13,367 |
| Payroll taxes | $4,746 |
| Fees for services: Management | $15,359 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $27,294 |
| Office expenses | $7,943 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $410 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $935 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $285 |
| Insurance | $0 |
| All other expenses | $170 |
| Total functional expenses | $133,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,108 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,625 |
| 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 | $7,706 |
| 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 | $145,439 |
| Accounts payable and accrued expenses | $23,644 |
| 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 | $59,072 |
| Total liabilities | $82,716 |
| Net assets without donor restrictions | $62,723 |
| 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 | $145,439 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Connecticut Technology Council Inc has recieved totaling $8,500.
| Awarding Organization | Amount |
|---|---|
Economic Development Corporation Of New Haven New Haven, CT PURPOSE: SPONSORSHIP | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Terc Inc Cambridge, MA | $20,874,819 | $13,653,170 |
Ny Creates Albany, NY | $99,965 | $4,450,000 |
Western New York Technology Development Center Inc Buffalo, NY | $1,286,247 | $2,858,472 |
The Asme Foundation Inc New York, NY | $33,818,246 | $3,028,197 |
Cortico Corporation Boston, MA | $3,352,303 | $987,674 |
Mit Real Estate Foundation Inc Cambridge, MA | $3,185,000 | -$155,000 |
Hudson Valley Technology Development Center Inc Newburgh, NY | $824,479 | $1,255,790 |
Engineering Conferences International Inc New York, NY | $3,118,614 | $313,156 |
Illuminating Engineering Society New York, NY | $1,760,270 | $405,029 |
Open Environmental Data Inc Hudson, NY | $569,068 | $817,377 |
Friends Of Ecole Polytechnique Inc New York, NY | $6,306,079 | $5,232,168 |
Robots In Service Of The Environment Inc Carlisle, MA | $148,050 | $300,008 |