Dartmouth Regional Technology Center Inc
- Assets
- $5.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Lebanon, NH
- Founding
- 10/2007
- Data as of
- 06/2023
- EIN
- 26-0092973
Organization Overview
Dartmouth Regional Technology Center Inc is located in Lebanon, NH. The organization was established in 2007. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dartmouth Regional Technology Center Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2023, Dartmouth Regional Technology Center Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $2.0m during the year ending 06/2023. While expenses have increased by 5.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO PROMOTE AND SUPPORT LOCAL BUSINESS GROWTH AND ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRTC MAINTAINS AND LEASES WORK SPACE SUCH AS LABORATORIES AND OFFICES TO GROWING BUSINESSES.
GRANTS TO SUPPORT LOCAL ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trip Davis Chair | OfficerTrustee | 5 | $0 |
Anne Duncan Cooley Treasurer | OfficerTrustee | 2 | $0 |
Michelle Moren-Grey Secretary | OfficerTrustee | 1 | $0 |
Benoit Lamontagne Trustee | Trustee | 1 | $0 |
Barry Schweitzer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arc Mechanical Contractors Construction Services | 6/29/23 | $642,446 |
Hazen Hill Construction Llc Facility And Office Management | 6/29/23 | $575,337 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,109,473 |
| Investment income | $4,284 |
| 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 | $2,113,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $53,409 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $127,470 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $63,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $798 |
| Advertising and promotion | $0 |
| Office expenses | $18,658 |
| Information technology | $6,761 |
| Royalties | $0 |
| Occupancy | $954,731 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $294,258 |
| Insurance | $46,883 |
| All other expenses | $6,515 |
| Total functional expenses | $2,002,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,940 |
| Savings and temporary cash investments | $378,724 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,354 |
| 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 | $2,049,901 |
| Net Land, buildings, and equipment | $3,191,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,725,417 |
| Accounts payable and accrued expenses | $177,487 |
| Grants payable | $0 |
| Deferred revenue | $42,389 |
| 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 | $2,849,682 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,069,558 |
| Net assets without donor restrictions | $2,655,859 |
| 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 | $5,725,417 |
Grants Awarded
Over the last fiscal year, Dartmouth Regional Technology Center Inc has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GRAFTON REGIONAL DEVELOPMENT CORPORATION PURPOSE: ECONOMIC DEVELOPMENT INITIATIVES, PROJECTS, ETC. | $25,000 |
NORTH COUNTRY COUNCIL PURPOSE: ECONOMIC DEVELOPMENT INITIATIVES, PROJECTS, ETC. | $25,000 |