Concurrent Technologies Corporation
- Assets
- $66.6m
- Revenue
- $78.8m
- Investments
- $0.0
- Employees
- 420
- Location
- Johnstown, PA
- Founding
- 04/1989
- Data as of
- 06/2022
- EIN
- 25-1556708
Organization Overview
Concurrent Technologies Corporation is located in Johnstown, PA. The organization was established in 1989. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 06/2023, Concurrent Technologies Corporation employed 420 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Concurrent Technologies 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, Concurrent Technologies Corporation generated $78.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $75.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INTERBOUNDARY SECURE INFORMATION SHARING (ISIS) PROGRAM WILL DEVELOP A NEW CROSS DOMAIN SYSTEM, THE NEXT GENERATION CROSS DOMAIN SOLUTION (NGCDS), THAT WILL CONSOLIDATE THE FUNCTIONALITY OF SEVERAL EXISTING CROSS DOMAIN SYSTEMS AND INCORPORATE NEW CROSS DOMAIN TECHNOLOGIES TO PROVIDE A COMPREHENSIVE CROSS DOMAIN CAPABILITY FOR ENTERPRISE AND CLOUD COMPUTING ENVIRONMENTS. THE ISIS PROGRAM WILL ALSO PROVIDE SUPPORT FOR A NUMBER OF EXISTING CROSS DOMAIN SYSTEMS UNTIL SUCH TIME AS THE FUNCTIONALITY OF THOSE SYSTEMS IS INCORPORATED INTO THE NGCDS. THE SCOPE OF THIS EFFORT SHALL INCLUDE DEVELOPMENT, MODIFICATION, TESTING, ASSEMBLY, DELIVERY, INSTALLATION, TRAINING, TROUBLESHOOTING SUPPORT, AND LOGISTICS SUPPORT FOR EXISTING AND NEW CROSS DOMAIN SYSTEMS AND EXISTING AND NEW CROSS DOMAIN TECHNOLOGIES.
THE PURPOSE OF THIS CONTRACT IS TO PROVIDE OPERATIONS AND SUSTAINMENT, TECHNICAL MANAGEMENT, AND ANALYTICAL SUPPORT FOR OPERATIONAL SAFETY AND OCCUPATIONAL SAFETY AND HEALTH ACTIVITIES TO REDUCE PREVENTABLE MISHAPS AND RISKS ACROSS THE DEPARTMENT OF DEFENSE (DOD). THIS SUPPORT INCLUDES DATA WAREHOUSE IMPLEMENTATION, DATA COLLECTION AND ANALYSIS, REPORTING, MAINTENANCE, TECHNICAL SUPPORT, AND ASSESSMENT FOR THE UNDER SECRETARY OF DEFENSE FOR PERSONNEL AND READINESS, USD (P&R), FORCE SAFETY AND OCCUPATIONAL HEALTH (FSOH).
THE PURPOSE OF THIS CONTRACT IS TO SUPPORT THE MARINE CORPS' EFFORTS TO MEET ENERGY RELIABILITY AND RESILIENCE REQUIREMENTS. CONTRACTOR SERVICES ARE REQUIRED TO SUPPORT DIFFERENT SECTIONS (I.E. HEADQUARTERS MARINE CORPS, REGIONS, AND INSTALLATIONS) OF THE MARINE CORPS, WHICH POSSESS THEIR OWN CHALLENGES IN ADDRESSING THE MARINE CORPS' OBJECTIVES SUCH AS UNIQUE UTILITY DISTRIBUTION SYSTEMS AND VARIOUS ENERGY SECURITY POSITIONS.COMPONENTS OF THIS CONTRACT SHALL INCLUDE: (A) PROVIDING INSTALLATION RESILIENCE METRICS; (B) EVALUATING UNCLASSIFIED ENERGY SECURITY ASSESSMENTS (ESA) REPORTS; (C) COLLECTING, STORING, AND ANALYZING ENERGY DATA; (D) PROVIDING WRITTEN RECOMMENDATIONS OF SUGGESTED INFRASTRUCTURE UPGRADES; (E) PROVIDING REGULAR ANALYSES OF THE UTILITY BILLS AND RATES; (F) ASSISTING IN DEVELOPMENT OF ENERGY PROJECTS TO ADDRESS GAPS NOTED IN THE ESA REPORTS; (G) ASSISTING IN CONDUCTING BUILDING LEVEL ENERGY AUDITS; (H) PROVIDING INFORMATION ON STEPS THAT WILL IMPROVE ENERGY EFFICIENCY; AND (I) PROVIDING TECHNICAL SUPPORT TO FACILITATE THE ENERGY SECURITY STRATEGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward J Sheehan Jr Board Member/president/ceo | OfficerTrustee | 40 | $676,944 |
Honorable Jeffrey K Harris Board Chairman | Trustee | 2 | $38,684 |
Dale Mosier Board Vice-Chairman | Trustee | 2 | $32,124 |
John F Phillips Thru 102022 Former Board Member | Trustee | 1 | $24,583 |
Camile M Nichols Board Member | Trustee | 1 | $30,000 |
Joseph L Yakovac Board Member | Trustee | 1 | $27,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sain Engineering Energy Consulting And Engineering Svcs | 6/29/23 | $3,969,143 |
Slm Solutions Na Inc Development And Distribution Services | 6/29/23 | $3,710,994 |
Hii Defense And Federal Solutions Inc Engineering & Technical Services | 6/29/23 | $2,678,818 |
Risk Mitigation Consulting Inc Information Technology Services | 6/29/23 | $2,664,513 |
Nteligen Llc Information Technology Services | 6/29/23 | $2,295,021 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,380,056 |
| Investment income | $494,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $58,908 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,818,020 |
| Statement of Expenses | |
|---|---|
| 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. | $1,802,198 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,276,569 |
| Pension plan accruals and contributions | $2,243,685 |
| Other employee benefits | $7,526,497 |
| Payroll taxes | $2,586,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $142,636 |
| Fees for services: Accounting | $173,910 |
| Fees for services: Lobbying | $224,636 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $85,240 |
| Fees for services: Other | $20,513,842 |
| Advertising and promotion | $126,936 |
| Office expenses | $2,442,946 |
| Information technology | $2,846,266 |
| Royalties | $0 |
| Occupancy | $1,106,312 |
| Travel | $986,446 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $203,089 |
| Interest | -$69,057 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,088,824 |
| Insurance | $434,853 |
| All other expenses | $0 |
| Total functional expenses | $75,077,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,888 |
| Savings and temporary cash investments | $4,614,692 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,029,210 |
| 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 | $1,612,272 |
| Investments—publicly traded securities | $15,905,334 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,444,294 |
| Total assets | $66,623,628 |
| Accounts payable and accrued expenses | $10,612,284 |
| Grants payable | $0 |
| Deferred revenue | $2,497,440 |
| 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 | $96,665 |
| Unsecured mortgages and notes payable | $983,449 |
| Other liabilities | $501,798 |
| Total liabilities | $14,691,636 |
| Net assets without donor restrictions | $51,931,992 |
| 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 |
| Total liabilities and net assets/fund balances | $51,931,992 |
Grants Awarded
Over the last fiscal year, Concurrent Technologies Corporation has awarded $76,954 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
JOHNSTOWN SYMPHONY ORCHESTRA PURPOSE: Sustaining | $20,204 |
JOHNSTOWN AREA HERITAGE ASSOCIATION PURPOSE: Sustaining | $15,250 |
UNITED WAY OF THE LAUREL HIGHLANDS PURPOSE: Sustaining | $10,700 |
YMCA PURPOSE: Sustaining | $10,000 |
COMMUNITY FOUNDATION FOR THE ALLEGHENIES PURPOSE: Sustaining | $8,300 |
VISION TOGETHER 2025 INC PURPOSE: Sustaining | $6,500 |