Center For Technology & Innovation Inc
- Assets
- $1.4m
- Revenue
- $35.1k
- Investments
- $81.8k
- Employees
- 0
- Location
- Binghamton, NY
- Founding
- 11/1996
- Data as of
- 12/2023
- EIN
- 16-1482563
Organization Overview
Center For Technology & Innovation Inc is located in Binghamton, NY. The organization was established in 1996. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Technology & Innovation 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, Center For Technology & Innovation Inc generated $35.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (18.5%) each year. All expenses for the organization totaled $89.0k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SHOWCASE UPSTATE NY INNOVATIONS - PAST & PRESENT, FOR THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION MANAGEMENT: IBM AND LINK/L3/LOCKHEED MARTIN VETERANS KEEP ARTIFACTS IN ACTION IN WORKING ORDER - ESPECIALLY IBM 1403 MAINFRAME AND GP LINK GENERAL AVIATION TRAINERS. VOLUNTEERS AND BINGHAMTON UNIVERSITY STUDENTS ARE CATALOGING AND ORGANIZING STORAGE OF ARTIFACTS AND ARCHIVES, INCLUDING THE COLLECTION OF HARVEY ROEHL PAPERS. EXPENSES ARE ABOUT EQUALLY DIVIDED BETWEEN RESTORATION COSTS, ARTIFACT PURCHASE, AND ARTIFACT TRANSPORTATION. THE RESULTS OF THIS EFFORT CONTRIBUTE TO THE TECHWORKS! VISITOR EXPERIENCE, BUT DO NOT REPRESENT AN INDEPENDENT REVENUE STREAM.
OUTREACH/EVENTS - TECHWORKS! CO-HOSTS THE ANNUAL BINGHAMTON BRIDGE PEDAL WITH SOUTHERN TIER BICYCLE CLUB, BINGHAMTON METROPOLITAN TRANSPORTATION STUDY (BMTS) AND BROOME COUNTY PLANNING DEPARTMENT. ROUTINE EVENTS AT TECHWORKS! INCLUDE GROUP VISITS BY SCHOOLS, RETIREE GROUPS, AND PROFESSIONAL SOCIETIES; PYTHON AND UNITY SOFTWARE CLASSES FOR TEENS AND ADULTS; AS WELL AS ON-CAMPUS LECTURES FOR BINGHAMTON UNIVERSITY COMPUTER SCIENCE AND HISTORY OF TECHNOLOGY CLASSES.
TECHWORKS! DEVELOPMENT - ENGINEERING SERVICES AND INTERIM REPAIRS CONTINUE TO STABILIZE EXISTING STRUCTURE FOR WAREHOUSE, WORKSHOPS, AND OFFICE. DEVELOPMENT OF TECHWORKS! NEXT GEN GALLERIES DEPEND ON SUCCESSFUL FUNDRAISING EFFORTS. THIS IS NOT YET A REVENUE GENERATING ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Sherwood Executive Director | Officer | 25 | $6,600 |
Mark Kreibel Board Member | Officer | 1 | $0 |
Erik Antonsson Board Member | Officer | 0.5 | $0 |
Frank Cardullo Board Member | Officer | 0.5 | $0 |
Farouk El-Baz Board Member | Officer | 0.5 | $0 |
Frank Hughes Board Member | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,873 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,873 |
| Total Program Service Revenue | $1,216 |
| 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 | $35,089 |
| 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. | $6,600 |
| Compensation of current officers, directors, key employees. | $6,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $31,703 |
| Advertising and promotion | $225 |
| Office expenses | $7,405 |
| Information technology | $5,952 |
| Royalties | $0 |
| Occupancy | $18,027 |
| Travel | $5,003 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $876 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,145 |
| All other expenses | $0 |
| Total functional expenses | $88,986 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,046 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $538,712 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $81,826 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $747,888 |
| Total assets | $1,374,472 |
| Accounts payable and accrued expenses | $0 |
| 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 | $83,300 |
| Total liabilities | $83,300 |
| Net assets without donor restrictions | $1,291,172 |
| 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 | $1,374,472 |