Emerging Technology Centers Inc
- Assets
- $553.0k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 10/1991
- Data as of
- 06/2021
- 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 06/2021, Emerging Technology Centers Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (11.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Emerging Technology Centers Inc has awarded 44 individual grants totaling $1,554,000. 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
2021
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 |
|---|---|---|---|
Jeff Pillas Treasurer | OfficerTrustee | 1 | $0 |
Margaret Roth President | OfficerTrustee | 1 | $0 |
Deborah Tillett President | Officer | 1 | $0 |
Kristen Herber Director | Trustee | 1 | $0 |
Jacqueline Brooks Director | Trustee | 1 | $0 |
Hans Petite-Homme Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $621,504 |
| All other contributions, gifts, grants, and similar amounts not included above | $266,459 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $887,963 |
| Total Program Service Revenue | $118,571 |
| Investment income | $57 |
| 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 | $1,006,591 |
| 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. | $118,539 |
| Compensation of current officers, directors, key employees. | $47,416 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,275 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,997 |
| Payroll taxes | $18,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,875 |
| Fees for services: Accounting | $34,349 |
| 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 | $54,848 |
| Office expenses | $103,844 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $232,793 |
| Travel | $2,610 |
| 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 | $1,020,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,834 |
| Savings and temporary cash investments | $488,534 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $575 |
| 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 | $28,057 |
| 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 | $553,000 |
| Accounts payable and accrued expenses | $119,124 |
| Grants payable | $0 |
| Deferred revenue | $5,265 |
| 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 | $46,593 |
| Total liabilities | $170,982 |
| Net assets without donor restrictions | $363,500 |
| Net assets with donor restrictions | $18,518 |
| 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 | $553,000 |
Grants Awarded
Over the last fiscal year, Emerging Technology Centers Inc has awarded $250,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
FIGHT BLIGHT BMORE PURPOSE: Economic Development | $50,000 |
DIPS TECHNOLOGY INC PURPOSE: Economic Development | $50,000 |
FULLBLAST STEAM PURPOSE: Economic Development | $50,000 |
SUPIR PURPOSE: Economic Development | $50,000 |
THE BLACK BRAIN TRUST LLC PURPOSE: Economic Development | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Emerging Technology Centers Inc has recieved totaling $270,000.
| Awarding Organization | Amount |
|---|---|
The Abell Foundation Inc Baltimore, MD PURPOSE: COMMUNITY DEVELOPMENT | $260,000 |
The Abell Foundation Inc Baltimore, MD PURPOSE: COMMUNITY DEVELOPMENT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Norfolk State University Research And Innovation Foundation Norfolk, VA | $25,278,732 | $5,808,933 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Small Business Majority Foundation Inc Washington, DC | $4,020,911 | $5,051,591 |
Black Girl Ventures Foundation Fort Belvoir, VA | $2,941,094 | $3,288,394 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
Prince Georges Financial Services Corporation Largo, MD | $6,191,541 | $2,663,412 |
National Small Business United Washington, DC | $916,029 | $2,645,028 |
Capital Region Minority Supplier Development Council Inc Silver Spring, MD | $1,993,070 | $2,779,986 |
Allentown Economic Development Corporation Allentown, PA | $28,611,870 | $1,731,246 |
Assets Lancaster Lancaster, PA | $1,401,857 | $1,513,730 |