Greater Richmond Technology Council
- Assets
- $790.9k
- Revenue
- $838.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Richmond, VA
- Founding
- 07/1992
- Data as of
- 12/2022
- EIN
- 54-1599550
Organization Overview
Greater Richmond Technology Council, operating under the name Rvatech, is located in Richmond, VA. The organization was established in 1992. 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. As of 12/2022, Rvatech employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rvatech 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 12/2022, Rvatech generated $838.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $884.2k during the year ending 12/2022. While expenses have increased by 12.5% per year over the past 8 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
THE ORGANIZATION'S MISSION IS TO PROMOTE THE SUCCESS OF TECHNOLOGY COMPANIES AND THE GROWTH OF THE TECHNOLOGY SECTOR WITHIN THE CENTRAL VIRGINIA ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AWARDS GALA IS RVATECH/'S PREMIER ANNUAL EVENT. IT IS A CHANCE FOR THE TECHNOLOGY COMMUNITY TO CELEBRATE THE SUCCESSES OVER THE LAST YEAR AND ACKNOWLEDGE TECHNOLOGY LEADERS THAT ENHANCE NOT JUST RICHMOND'S TECHNOLOGY COMMUNITY, BUT THE GREATER RICHMOND COMMUNITY AS A WHOLE. RVATECH/ HELD ITS 27TH ANNUAL TECHNOLOGY AWARDS GALA IN OCTOBER, HONORING SEVERAL LOCAL ORGANIZATIONS AND INDIVIDUALS THAT ARE ACTIVELY HELPING ADVANCE CENTRAL VIRGINIA'S TECHNOLOGY-BASED ECONOMY.
2022 EVENTS: BREAKFAST 20,000, TECH ON TAP 4,000, GAME CHANGERS 2,500, LEGISLATIVE UPDATE 25,000, PRODUCTFEST 56,500, RVAJS 15,500, MISCELLANEOUS REVENUE 519,218.
IN OCTOBER, RVATECH/ HOSTED THE WOMEN IN TECHNOLOGY CONFERENCE, VIRGINIA'S PREMIER CONFERENCE ON WOMEN IN TECHNOLOGY. THE CONFERENCE BRINGS TOGETHER TECHNOLOGY PROFESSIONALS TO LEARN, NETWORK, AND COLLABORATE ON ISSUES AND OPPORTUNITIES FACING WOMEN IN TECHNOLOGY.
IN OCTOBER, RVATECH/ HOSTED THE DATA SCIENCE SUMMIT, A NEW CONFERENCE FOCUSED ON DATA SCIENCE, MACHINE LEARNING, AND ARTIFICIAL INTELLIGENCE. IT WAS HELD AT THE SCIENCE MUSEUM OF VIRGINIA AND SAW AN ATTENDANCE OF OVER 500. THE CONFERENCE BRINGS TOGETHER TECHNOLOGY PROFESSIONALS TO LEARN, NETWORK, AND COLLABORATE ON ISSUES AND OPPORTUNITIES WITHIN THE DATA SCIENCE SECTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Roth Chair | OfficerTrustee | 1 | $0 |
Mary Lynne Staib Vice/policy | OfficerTrustee | 1 | $0 |
Jason Dufner Treasurer | OfficerTrustee | 1 | $0 |
Ben Sady Secretary | OfficerTrustee | 1 | $0 |
Meghan Pieratt Membership C | OfficerTrustee | 1 | $0 |
Twann Atkins Policy Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $176,800 |
| Fundraising events | $26,000 |
| Related organizations | $0 |
| Government grants | $20,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $373,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $597,080 |
| Total Program Service Revenue | $241,574 |
| Investment income | $28 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$443 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $838,239 |
| 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. | $185,319 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $193,175 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,317 |
| Payroll taxes | $25,939 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,000 |
| Advertising and promotion | $8,359 |
| Office expenses | $31,852 |
| Information technology | $26,809 |
| Royalties | $0 |
| Occupancy | $4,986 |
| Travel | $3,565 |
| 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 | $1,086 |
| Insurance | $3,301 |
| All other expenses | $55,427 |
| Total functional expenses | $884,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $551,117 |
| Savings and temporary cash investments | $100,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,196 |
| 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 | $14,924 |
| Net Land, buildings, and equipment | $1,231 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $790,883 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $123,635 |
| 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 | $299,900 |
| Other liabilities | $3,223 |
| Total liabilities | $426,758 |
| Net assets without donor restrictions | $0 |
| 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 | $364,125 |
| Total liabilities and net assets/fund balances | $790,883 |