Delaware Technology Park Inc
- Assets
- $39.4m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, DE
- Founding
- 06/2000
- Data as of
- 06/2022
- EIN
- 51-0344637
Organization Overview
Delaware Technology Park Inc is located in Newark, DE. The organization was established in 2000. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Delaware Technology Park 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 06/2022, Delaware Technology Park Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $4.2m during the year ending 06/2022. While expenses have increased by 3.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF TECHNOLOGY AND MANAGEMENT OF STATE-OF-THE-ART RESEARCH FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE TRANSFER, APPLICATION, AND COMMERCIALIZATION OF PRE-COMPETITIVE TECHNOLOGY IN COMPOSITES AND ADVANCED MATERIALS,AND ADEQUATE MANAGEMENT AND MAINTENANCE OF THE FACILITY TO PROMOTE TECHNOLOGY INDUSTRIES IN DELAWARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew M Lubin Chairman | OfficerTrustee | 10 | $77,000 |
J Michael Bowman President & CEO | Officer | 40 | $0 |
David Mcbride ESQ Director | Trustee | 1 | $0 |
Dennis Assanis PHD Director | Trustee | 1 | $0 |
Brian A Pryor PHD Director | Trustee | 1 | $0 |
Albert Shields Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bancroft Construction Construction | 6/29/22 | $14,538,015 |
Delle Donne & Associates Lease Management | 6/29/22 | $451,799 |
Modern Controls Hvac Contracting | 6/29/22 | $280,692 |
David Ragan Construction | 6/29/22 | $289,214 |
Service Master Cleaning Services | 6/29/22 | $275,325 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| 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 | $50,000 |
| Total Program Service Revenue | $3,858,292 |
| 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 | $3,908,292 |
| 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. | $75,000 |
| Compensation of current officers, directors, key employees. | $75,000 |
| 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 | $138,813 |
| Fees for services: Legal | $18,635 |
| Fees for services: Accounting | $138,687 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $240,339 |
| Advertising and promotion | $0 |
| Office expenses | $15,619 |
| Information technology | $52,323 |
| Royalties | $0 |
| Occupancy | $2,272,085 |
| Travel | $81 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $477,538 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $623,464 |
| Insurance | $35,588 |
| All other expenses | $4,000 |
| Total functional expenses | $4,213,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,429,488 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $348,970 |
| 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 | $25,409 |
| Net Land, buildings, and equipment | $36,527,543 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,890 |
| Total assets | $39,389,300 |
| Accounts payable and accrued expenses | $2,190,019 |
| Grants payable | $0 |
| Deferred revenue | $500,000 |
| 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 | $35,595,619 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,508,278 |
| Total liabilities | $40,793,916 |
| Net assets without donor restrictions | -$1,404,616 |
| 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 | $39,389,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Pennreach Allentown, NJ | $5,187,786 | $15,924,501 |
Garrett County Maryland Community Action Committee Inc Oakland, MD | $23,823,939 | $14,024,119 |
Strong City Baltimore Baltimore, MD | $3,607,626 | $14,803,870 |
Visit Baltimore Inc Baltimore, MD | $13,591,522 | $23,022,151 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Allegany County Human Resources Development Commission Inc Cumberland, MD | $11,830,782 | $13,688,639 |
Evas Village Inc Paterson, NJ | $22,074,014 | $13,649,312 |
Fusion Partnerships Inc Baltimore, MD | $7,468,833 | $16,079,107 |
University City District Philadelphia, PA | $9,386,670 | $9,712,200 |
Hemlock Farms Community Association Lords Valley, PA | $26,523,624 | $12,038,926 |
New Jersey Community Development Corporation Inc Paterson, NJ | $38,005,348 | $12,337,768 |