Technology Innovation Center Inc
- Assets
- $9.9k
- Revenue
- $95.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Winnetka, IL
- Founding
- 11/1992
- Data as of
- 12/2018
- EIN
- 36-3797555
Organization Overview
Technology Innovation Center Inc is located in Winnetka, IL. The organization was established in 1992. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2018, Technology Innovation Center Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Technology Innovation 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 12/2018, Technology Innovation Center Inc generated $95.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (22.4%) each year. All expenses for the organization totaled $237.1k during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
STARTUP SERVICES WITH SUPPORTIVE NEEDS VIA OFFICE SPACE AND PERSONNEL WITH THE NEEDED OPERATING EQUIPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
START UP SERVICES WITH SUPPORTIVE NEED VIA OFFICE SPACE AND PERSONNEL WITH THE NEEDED OPERATING EQUIPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Kouris Director | Trustee | 1 | $0 |
John Lockerby Director | Trustee | 1 | $0 |
Tim Lavengood Former | 40 | $35,415 |
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 | $95,405 |
| 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 | $95,405 |
| 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. | $35,415 |
| Compensation of current officers, directors, key employees. | $5,312 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,659 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,391 |
| Payroll taxes | $8,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,401 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,378 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,176 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,177 |
| Travel | $1,574 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $481 |
| Interest | $1,334 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $644 |
| All other expenses | $0 |
| Total functional expenses | $237,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,238 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,622 |
| Total assets | $9,860 |
| 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 | $30,216 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,751 |
| Total liabilities | $31,967 |
| Unrestricted restricted net Assets | -$22,107 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$22,107 |