Emerging Technology Centers Inc
- Assets
- $513.2k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 10/1991
- Data as of
- 06/2022
- EIN
- 52-1732432
Organization Overview
Emerging Technology Centers Inc is located in Baltimore, MD. The organization was established in 1991. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emerging Technology Centers 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, Emerging Technology Centers Inc generated $1.1m 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 (7.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Emerging Technology Centers Inc has awarded 47 individual grants totaling $1,679,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER A TRANSFORMATIVE COMMUNITY OF TECH-SAVVY, INNOVATIVE, ENTREPRENEURIAL PEOPLE LOOKING FOR CREATIVE COLLABORATION TO ACCELERATE THEIR GROWTH POTENTIAL AND MAKE A POWERFUL ECONOMIC IMPACT ON THE CITY OF BALTIMORE AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A BUSINESS INCUBATOR SITE AND ASSISTS THE DEVELOPMENT OF BUSINESSES WITHIN THE SITE, WHILE ENCOURAGING NEW BUSINESS TO LOCATE IN THE CENTRAL MARYLAND REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Tillett Former CEO | Officer | 1 | $0 |
Daniel Smith Director | Trustee | 1 | $0 |
Jeff Pillas Treasurer | OfficerTrustee | 1 | $0 |
Hans Petit-Homme Director | Trustee | 1 | $0 |
Kristen Herber Former Director | Trustee | 1 | $0 |
Jacqueline Brooks Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $648,515 |
| All other contributions, gifts, grants, and similar amounts not included above | $270,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $918,515 |
| Total Program Service Revenue | $144,253 |
| Investment income | $38 |
| 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 | $1,063,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250,000 |
| 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. | $125,905 |
| Compensation of current officers, directors, key employees. | $50,362 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,205 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,001 |
| Payroll taxes | $20,893 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $47,541 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,000 |
| Advertising and promotion | $46,657 |
| Office expenses | $101,008 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $249,930 |
| Travel | $5,798 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,055,326 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,831 |
| Savings and temporary cash investments | $283,571 |
| Pledges and grants receivable | $21,217 |
| Accounts receivable, net | $176 |
| 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 | $28,454 |
| 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 | $513,249 |
| Accounts payable and accrued expenses | $78,932 |
| Grants payable | $0 |
| Deferred revenue | $1,336 |
| 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 | $32,362 |
| Total liabilities | $112,630 |
| Net assets without donor restrictions | $400,619 |
| 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 | $513,249 |
Grants Awarded
Over the last fiscal year, Emerging Technology Centers Inc has awarded $250,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
6DGRS PURPOSE: Economic Development | $50,000 |
BOOK-A-BOAT DBA BUKU PURPOSE: Economic Development | $50,000 |
IMPATHI LLC PURPOSE: Economic Development | $50,000 |
OPAL HTM INC PURPOSE: Economic Development | $50,000 |
G-HAVEN ESPORTS PURPOSE: Economic Development | $50,000 |