Hudson Valley Technology Development Center Inc
- Assets
- $1.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Newburgh, NY
- Founding
- 08/1988
- Data as of
- 09/2023
- EIN
- 14-1698513
Organization Overview
Hudson Valley Technology Development Center Inc is located in Newburgh, NY. The organization was established in 1988. 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. Hudson Valley Technology Development Center 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 09/2023, Hudson Valley Technology Development Center Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.2m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
HVTDC AS A MANUFACTURING EXTENSION CENTER (MEP) ACCELERATES THE USAGE OF MANUFACTURING TECHNOLOGY BY CLIENT FIRMS BY PARTNERING WITH TECHNOLOGY PROVIDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen S Young Chairman | 1 | $0 | |
David Tooker Interim Trea | 1 | $0 | |
Louis Chappo Director | 1 | $0 | |
Richard Ehrlickman Director | 1 | $0 | |
Noa Simons Director | 1 | $0 | |
Laraine Kautz Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $875,312 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $364,272 |
| Total Revenue | $1,239,584 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $225,587 |
| Other employee salaries and wages | $409,037 |
| Pension plans, employee benefits | $64,711 |
| Interest | $3,300 |
| Taxes | $0 |
| Depreciation | $1,942 |
| Occupancy | $7,685 |
| Travel, conferences, and meetings | $7,069 |
| Printing and publications | $0 |
| Other expenses | $88,644 |
| Total operating and administrative expenses | $1,150,223 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,150,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $606,666 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $48,067 |
| Net Pledges Receivable | $0 |
| Grants receivable | $236,402 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,531 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $5,716 |
| Other assets | $151,105 |
| Total assets | $1,061,487 |
| Accounts payable and accrued expenses | $183,936 |
| Grants payable | $0 |
| Deferred revenue | $10,783 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $41,962 |
| Other liabilities | $157,500 |
| Total liabilities | $394,181 |