The Strategic Economic Consortium Inc
- Assets
- $1.1m
- Revenue
- $11.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Kingston, NY
- Founding
- 08/2007
- Data as of
- 12/2021
- EIN
- 26-0374580
Organization Overview
The Strategic Economic Consortium Inc, operating under the name T-Sec, is located in Kingston, NY. The organization was established in 2007. According to its NTEE Classification (C35) the organization is classified as: Energy Resources Conservation & Development, under the broad grouping of Environment and related organizations. As of 12/2021, T-Sec employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. T-Sec 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 12/2021, T-Sec generated $11.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (44.7%) each year. All expenses for the organization totaled $413.2k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE TRANSFORMATIVE SOLAR RESEARCH, INNOVATION AND APPLICATION DEVELOPMENT AND TO PROVIDE SUPPORT TO ADVANCED MANUFACTURING INDUSTRY IN NEW YORK STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMARTT LABS & PODS EQUIPMENT - PURCHASE AND INSTALL MANUFACTURING AND CHARACTERIZATION CAPITAL EQUIPMENT FOR THE SMARTT (SUNY MANUFACTURING ALLIANCE TECHNOLOGY TRANSFER) LABS AND SMARTT PODS LOCATED AT HUDSON VALLEY BUSINESSES AND ON SUNY CAMPUSES.
SMARTT LABS & PODS OPERATIONS - WITH ITS PARTNERS AND VOLUNTEERS, MANAGE SMARTT LABS AND PODS PROGRAM, MAINTAIN ITS ASSETS AND ASSIST AND EXPAND USER BASE OF SMALL MANUFACTURERS AND ENTREPRENEURS.
CITY OF NEWBURGH, NY MANUFACTURING CLUSTER - WITH THE SUPPORT OF THE CITY OF NEWBURGH AND OTHER COMMUNITY ORGANIZATIONS, GROW THE MANUFACTURING SECTOR AND ITS ASSOCIATED JOBS IN THE CITY. INCLUDES MARKETING THE CITY'S VACANT COMMERCIAL SPACE TO ENTREPRENEURS AND SMALL BUSIENSSES ("A RIVER OF OPPORTUNITIES"), PROMOTING AVAILABLE BUSINESS OPPORTUNITIES IN THE CITY AND PROVIDING ACCESS TO EMPLOYEE TRAINING AND MANUFACTURING RESOURCES.
GENERAL SUPPORT OF PROGRAM SERVICES AND OTHER PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl E Meyer President & Ceo, Chairman | OfficerTrustee | 20 | $18,134 |
Frank Falatyn Secretary | OfficerTrustee | 1 | $0 |
Daniel Ahouse Vice Chairman | OfficerTrustee | 1 | $0 |
Don Tegeler Treasurer | OfficerTrustee | 1 | $0 |
Vincent Cozzolino Director | Trustee | 1 | $0 |
William Jemison Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $38,352 |
| 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 | $38,352 |
| Total Program Service Revenue | $0 |
| Investment income | $35 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,737 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,650 |
| 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. | $18,134 |
| Compensation of current officers, directors, key employees. | $7,254 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,058 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,771 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,058 |
| Fees for services: Accounting | $30,354 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,486 |
| Advertising and promotion | $316 |
| Office expenses | $17 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,571 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,950 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $249,509 |
| Insurance | $15,813 |
| All other expenses | $0 |
| Total functional expenses | $413,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,229 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $517,767 |
| 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 | $1,100 |
| Net Land, buildings, and equipment | $593,096 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,127,192 |
| Accounts payable and accrued expenses | $26,867 |
| 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 | $10,000 |
| Secured mortgages and notes payable | $401,021 |
| Unsecured mortgages and notes payable | $32,433 |
| Other liabilities | $0 |
| Total liabilities | $470,321 |
| Net assets without donor restrictions | $656,871 |
| 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 | $1,127,192 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vermont Energy Investment Corp Winooski, VT | $38,391,512 | $94,935,292 |
Energy Federation Inc Marlborough, MA | $39,580,023 | $16,691,076 |
Efficiency Forward Inc Medford, MA | $5,907,697 | $9,722,584 |
Center For Ecotechnology Inc Dalton, MA | $5,279,642 | $8,781,564 |
New York City Energy Efficiency Corporation New York, NY | $49,730,328 | $4,961,348 |
Environment Next Inc East Aurora, NY | $24,217,627 | $8,709,351 |
E4thefuture Framingham, MA | $19,416,406 | $1,363,963 |
Northeast Energy Efficiency Partnerships Inc Lexington, MA | $4,479,644 | $4,251,266 |
Deploy-Us Inc Boston, MA | $2,976,414 | $4,253,205 |
Interstate Renewable Energy Council Albany, NY | $3,755,320 | $4,093,970 |
Green Mountain Energy Sun Club Princeton, NJ | $0 | $1,158,123 |
National Wind Technology Consortium Albany, NY | $2,138,543 | $2,465,652 |