New York City Industrial Technology Assistance Corporation
- Assets
- $2.9m
- Revenue
- $3.1m
- Investments
- $87.0k
- Employees
- 9
- Location
- New York, NY
- Founding
- 12/1991
- Data as of
- 06/2022
- EIN
- 13-3410779
Organization Overview
New York City Industrial Technology Assistance Corporation is located in New York, NY. The organization was established in 1991. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, New York City Industrial Technology Assistance Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York City Industrial Technology Assistance Corporation 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 06/2022, New York City Industrial Technology Assistance Corporation generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $2.9m during the year ending 06/2022. While expenses have increased by 0.0% 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 2021, New York City Industrial Technology Assistance Corporation has awarded 20 individual grants totaling $233,000. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN THE ECONOMY AND JOB BASE OF NEW YORK CITY BY IMPROVING THE COMPETITIVENESS OF LOCAL INDUSTRIAL AND TECHNOLOGY FIRMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANUFACTURING COMPETITIVENESS- ITAC OPERATES UNDER THE UMBRELLA OF THE NATIONAL INSTITUTE OF STANDARD & TECHNOLOGY FUNDED MANUFACTURING EXTENSION PARTNERSHIP PROGRAM AND THE EMPIRE STATE DEVELOPMENT DIVISION OF SCIENCE, TECHNOLOGY & INNOVATION PROGRAM. ITAC PROVIDES TECHNICAL AND MANAGEMENT ASSISTANCE THROUGH EXPERIENCED MANUFACTURING FIELD SPECIALISTS WHO HELP COMPANIES EVALUATE AND IMPLEMENT OPPORTUNITIES FOR IMPROVING THEIR COMPETITIVENESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kinda Younes Executive Director | Officer | 40 | $205,037 |
Peter Janover VP Of Sales | Officer | 40 | $152,734 |
Mary Mckay Director Of Advanced Manufact. | 40 | $158,733 | |
Paul Mcquade Director Of Operations | Officer | 40 | $146,464 |
Rajeev Sharma Director Of Client Services | 40 | $112,091 | |
Mal Schuster Secretary - Director | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sourcehov Tax Dba Source Advisors Project Consultant | 6/29/22 | $147,600 |
Establish Inc Project Consultant | 6/29/22 | $200,810 |
Eisner Advisory Group Project Consultant | 6/29/22 | $132,200 |
Rd Tax Savers Project Consultant | 6/29/22 | $101,695 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,882,246 |
| 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 | $1,882,246 |
| Total Program Service Revenue | $1,208,591 |
| Investment income | $501 |
| 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 | $3,091,612 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $203,000 |
| 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. | $624,621 |
| Compensation of current officers, directors, key employees. | $105,797 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $406,363 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $172,719 |
| Payroll taxes | $81,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,128 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,196,373 |
| Advertising and promotion | $23,046 |
| Office expenses | $50,599 |
| Information technology | $24,909 |
| Royalties | $0 |
| Occupancy | $50,552 |
| Travel | $54,360 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,066 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,618 |
| All other expenses | $0 |
| Total functional expenses | $2,939,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,844,510 |
| Pledges and grants receivable | $766,342 |
| Accounts receivable, net | $113,323 |
| 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 | $87,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,700 |
| Total assets | $2,890,075 |
| Accounts payable and accrued expenses | $289,127 |
| Grants payable | $0 |
| Deferred revenue | $3,750 |
| 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 | $292,877 |
| Net assets without donor restrictions | $2,597,198 |
| 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 | $2,890,075 |
Grants Awarded
Over the last fiscal year, New York City Industrial Technology Assistance Corporation has awarded $193,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
NEXTCORPS INC PURPOSE: To help scale PPE production and to maximize PPE lifespan. | $33,000 |
AIRDAPTIVE LLC PURPOSE: To help scale PPE production and to maximize PPE lifespan. | $10,000 |
AM&T (ALLIANCE FOR MANUFACTURING & TECHNOLOGY PURPOSE: To help scale PPE production and to maximize PPE lifespan. | $10,000 |
CEG (CENTER FOR ECONOMIC GROWTH) PURPOSE: To help scale PPE production and to maximize PPE lifespan. | $10,000 |
CITEC PURPOSE: To help scale PPE production and to maximize PPE lifespan. | $10,000 |
CABVI PURPOSE: To help scale PPE production and to maximize PPE lifespan. | $10,000 |