Tech Alpharetta Inc
- Assets
- $411.9k
- Revenue
- $554.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Alpharetta, GA
- Founding
- 09/2015
- Data as of
- 12/2023
- EIN
- 47-1769869
Organization Overview
Tech Alpharetta Inc is located in Alpharetta, GA. The organization was established in 2015. 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. Tech Alpharetta Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Tech Alpharetta Inc generated $554.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $478.8k during the year ending 12/2023. While expenses have increased by 16.4% 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
TECH ALPHARETTA IS A TECH ECONOMIC DEVELOPMENT ENGINE FOR THE CITY OF ALPHARETTAWE GROW NEW COMPANIES & NEW JOBS FOR THE CITYWE HELP ATTRACT & RETAIN TECH COMPANIES IN THE CITY WE HELP TO ATTRACT, RETAIN & GROW SKILLED TECH WORKFORCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF TECH ALPHARETTAS NOVEMBER 2023 BOARD STRATEGIC PLANNING MEETING, WHICH TAKES PLACE EVERY OTHER YEAR, TECH ALPHARETTA HAD SUCCESSFULLY ACCOMPLISHED ALL INITIATIVES FIRST PROPOSED AT ITS NOVEMBER 2021 STRATEGIC PLANNING MEETING. TECH ALPHARETTA: - INCREASED REVENUES THROUGH NEW FUNDRAISING (ANNUAL CIO SPEED DATING FUNDRAISER EVENTS)- GREW ITS REVENUES TO EXCEED $500,000 IN GROSS REVENUES FOR 2023- INVESTED SOME OF ITS OPERATING ACCOUNT FUNDS INTO AN INTEREST-BEARING CD OF 5%+ - GREW ITS BOARD WITH STRATEGIC BOARD MEMBER/COMPANY ADDITIONS- LAUNCHED & GREW ITS WOMENS FORUM STEAM MENTORING PROGRAM INTO A HIGHLY SUCCESSFUL INITIATIVE, WHICH IT INCORPORATED AS A SEPARATE GA. DOMESTIC NONPROFIT CORPORATION IN LATE 2023. (501C3 APPLICATION UNDERWAY)- RELAUNCHED ITS INDUSTRY INTERFACE PROGRAM BY PRESENTING STARTUPS TO ITS STARTUP & ENTERPRISE COMMITTEE MEETINGS, WITH SUCCESS STORIES- LAUNCHED NEW TECH STUDIO INITIATIVE TO OFFER TECHNICAL & LEADERSHIP TRAINING TO EXECUTIVES- ACTIVATED ITS HIGHLY EFFECTIVE EXECUTIVE BOARD UNDER RICH CANNON, EXEC. BOARD CHAIR- CREATED ITS ORGANIZATIONAL VALUE PROPOSITION- HOSTED ITS THIRD ANNUAL TECH ALPHARETTA GOLF CLASSICTECH ALPHARETTAS VALUE PROPOSITION:TECH ALPHARETTA BUILDS ALPHARETTAS REPUTATION AS THE DESTINATION OF CHOICE FOR TECH COMPANIES AND TECH PROFESSIONALS. WE HELP TECH COMPANIES OF EVERY SIZE, FROM STARTUP TO ENTERPRISE, OPTIMIZE THEIR POTENTIAL; FOSTER THE EDUCATION AND DEVELOPMENT OF TALENT; CULTIVATE LOCAL BUSINESS NETWORKING AND CONNECTION; AND DRIVE INVESTMENT TO ENHANCE ALPHARETTAS VIBRANT TECH ECOSYSTEM. TECH ALPHARETTAS GROWTH METRICS:2021 / 2023$350K BUDGET / $450K BUDGET 416K GROSS REV /506K AS OF 10/31/23 654 TECH COS IN COA / MORE THAN 900 TECH COS IN COA HOSTED 46 VIRTUAL PROGRAMS / HOSTED 30 LIVE PROGRAMS, PLUS 100 IN PERSON MEETUPS SERVED APPROX. 2000 TECH EXECS / SERVED APPROX. 2000 TECH EXECSCREATED 600 ALPHARETTA, 1,000 STATE OF GA NEW JOBS / 1188/1854 NEW JOBS 18 TOTAL STARTUP GRADS / 21 TOTAL STARTUP GRADS $29.2 MIL INVESTOR FUNDING / $1.25 MIL INV. FUNDING$182 MIL TOTALINVESTOR FUNDING RECEIVED 2021 /$221 MIL TOTAL INVESTOR FUNDING RECEIVED 202325 HIGH SCHOOL GIRLS MENTORED BY OUR WOMENS FORUMS STEAM MENTORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felipe Smolka Board Mbr | Trustee | 1 | $0 |
Jim Gilvin Board Mbr | Trustee | 1 | $0 |
Ben Andrews Board Mbr | Trustee | 1 | $0 |
Jessica Fang Board Mbr | Trustee | 1 | $0 |
Lance Morsell Board Mbr | Trustee | 1 | $0 |
Rich Johnson Board Mbr | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $95,000 |
| 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 | $96,500 |
| Total Program Service Revenue | $421,236 |
| Investment income | $4,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $32,810 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $554,872 |
| 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. | $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 | $219,807 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,294 |
| Advertising and promotion | $8,907 |
| Office expenses | $6,634 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $761 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $413 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,691 |
| Insurance | $3,609 |
| All other expenses | $30,503 |
| Total functional expenses | $478,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,367 |
| Savings and temporary cash investments | $50,843 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,323 |
| 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 | $10,366 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $411,899 |
| Accounts payable and accrued expenses | $11,798 |
| Grants payable | $0 |
| Deferred revenue | $130,708 |
| 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 | $0 |
| Total liabilities | $142,506 |
| Net assets without donor restrictions | $269,393 |
| 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 | $411,899 |