Tech Frederick Inc
- Assets
- $149.0k
- Revenue
- $422.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Monrovia, MD
- Founding
- 12/2016
- Data as of
- 12/2023
- EIN
- 47-4589774
Organization Overview
Tech Frederick Inc is located in Monrovia, MD. The organization was established in 2016. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2023, Tech Frederick Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech Frederick 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 12/2023, Tech Frederick Inc generated $422.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.2% each year . All expenses for the organization totaled $401.7k during the year ending 12/2023. 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
WE CULTIVATE A STRONG TECH COMMUNITY THROUGH ADVOCACY, CONNECTIONS, AND EDUCATION, FOSTERING OPPORTUNITIES FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASPIRE TRAINING IS FREE (OR FOR A NOMINAL FEE) TO THE FREDERICK COUNTY TECH COMMUNITY, AS WELL AS THOSE WHO ASPIRE TO JOIN IT BY ADDING TECH SKILLS TO THEIR RESUMES, AND IS DESIGNED TO ENHANCE WORKFORCE SKILLS THROUGH ON-LINE OR IN-PERSON CLASSES. APPROXIMATELY 203 PEOPLE BENEFITTED FROM ASPIRE TRAINING.
TECHFREDERICK GAMES IS AN ANNUAL EVENT DESIGNED TO PROVIDE AN OPPORTUNITY FOR LOCAL TECH BUSINESSES TO CONNECT AND HAVE FUN, WHILE RAISING AWARENESS OF TECHFREDERICK AND THE PARTICIPATING COMPANIES. APPROXIMATELY 149 PEOPLE PARTICIPATED.
TECHFREDERICK OFFERS VARIOUS NETWORKING EVENTS THAT FOCUS ON CONNECTING LOCAL INDUSTRY PROFESSIONALS WITH OTHER BUSINESS LEADERS. OUR EVENTS INCLUDE SALES AND MARKETING SPEAKER SESSIONS, ROUNDTABLE EVENTS, AND QUARTERLY NETWORKING BREAKFASTS. IN 2023, OUR SPEAKER SESSIONS AND BREAKFASTS FEATURED LOCAL AND NATIONAL SUBJECT MATTER EXPERTS WHO GAVE INFORMATIVE PRESENTATIONS ON TOPICS RELEVANT TO THE TECH COMMUNITY. TECHFREDERICK ALSO HOSTS IN-PERSON EVENING NETWORKING EVENTS THAT ARE HOSTED BY LOCAL TECH BUSINESSES TO FACILITATE NETWORKING AND CONNECTION OPPORTUNITIES. APPROXIMATELY 314 PEOPLE BENEFITTED FROM THE VARIOUS NETWORKING EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Yeager President | OfficerTrustee | 3 | $0 |
Jeff Pontius Treasurer | OfficerTrustee | 3 | $0 |
Mike Battle Board Member | Trustee | 2 | $0 |
Jon-Mikel Bailey Board Member | Trustee | 2 | $0 |
Maria Roat Board Member | Trustee | 2 | $0 |
Meghan Sweigart Executive Director | Officer | 40 | $63,994 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,350 |
| Fundraising events | $2,225 |
| Related organizations | $0 |
| Government grants | $301,696 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,101 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $352,372 |
| Total Program Service Revenue | $63,223 |
| 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 | $7,167 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $422,762 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $79,884 |
| Compensation of current officers, directors, key employees. | $39,942 |
| Compensation to disqualified persons | $48,485 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,081 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,196 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $221,488 |
| Advertising and promotion | $1,433 |
| Office expenses | $958 |
| Information technology | $4,408 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $323 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $484 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,569 |
| All other expenses | $0 |
| Total functional expenses | $401,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,009 |
| 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 | $0 |
| Total assets | $149,009 |
| Accounts payable and accrued expenses | $900 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $900 |
| Net assets without donor restrictions | $148,109 |
| 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 | $149,009 |