Citec Inc

Organization Overview

Citec Inc is located in Potsdam, NY. The organization was established in 1993. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Citec Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citec 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 12/2023, Citec Inc generated $1.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $937.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDING ASSISTANCE TO THE DEVELOPMENT AND GROWTH OF TECHNOLOGY BASED BUSINESSES THROUGH INTERNATIONAL TRADE, EDUCATIONAL RESOURCES, AND COMMUNICATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING ASSISTANCE TO THE DEVELOPMENT AND GROWTH OF TECHNOLOGY BASED BUSINESSES THROUGH INTERNATIONAL TRADE, EDUCATIONAL RESOURCES, AND COMMUNICATION.


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Board, Officers & Key Employees

Name (title)Compensation
George Bouyea
President
$0
Andrew Mcmahon
Vice President
$0
Daniel Votraw
Secretary/treasurer
$0
Ronald Bacon
Trustee
$0
Manna Doyle
Trustee
$0
Stephen Hunt
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $575,000
All other contributions, gifts, grants, and similar amounts not included above$40,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$615,000
Total Program Service Revenue$381,780
Investment income $14,833
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 $1,011,613

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