Palm Beach Technology Association Inc
- Assets
- $41.9k
- Revenue
- $323.0k
- Investments
- $0.0
- Employees
- 7
- Location
- West Palm Beach, FL
- Founding
- 12/2018
- Data as of
- 12/2020
- EIN
- 61-1769589
Organization Overview
Palm Beach Technology Association Inc, operating under the name Tech Hub South Florida, is located in West Palm Beach, FL. The organization was established in 2018. 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 12/2020, Tech Hub South Florida employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech Hub South Florida 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 12/2020, Tech Hub South Florida generated $323.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $302.8k during the year ending 12/2020. While expenses have increased by 15.1% per year over the past 3 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
AS A REGIONAL TRADE ASSOCIATION, PALM BEACH TECH PROMOTES INDUSTRY GROWTH BY WORKING WITH EDUCATIONAL INSTITUTIONS, GOVERNMENT ENTITIES, AND BUSINESS GROUPS TO SUPPORT THE GOALS OF MEMBER COMPANIES. OUR CORE FOCUS IS FIXED ON PRODUCING LONG-TERM ECONOMIC IMPACT BY ATTRACTING NEW BUSINESS, SUPPORTING STARTUPS, AND BUILDING THE TALENT POOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HACKATHON - THE TECH HUB HACKATHON IS A 24 HOUR EVENT WHERE PARTICIPANTS FORM TEAMS VET IDEAS, CREATE A PROJECT, THEN PRESENT THEIR WORK TO AN EXPERT PANEL OF JUDGES. TEAMS WILL CONSIST OF DEVELOPERS, DESIGNERS, PROJECT MANAGERS AND ENTREPRENEURS, WITH SUCCESSFUL TEAMS HAVING A MIX OF THESE AREAS OF EXPERTISE AND WINNERS WALKING AWAY WITH A COMBINATION OF CASH AND IN KIND PRIZES! OUR THEMES THIS YEAR IS 'HACK FOR INCLUSION' WITH EACH PROJECT ADDRESSING ISSUES OF BIAS, DIVERSITY, ACCESSIBILITY AND OVERALL INCLUSION. TEAMS WILL COLLABORATE TO BUILD A SOLUTION TO COMBAT DE&I STRUGGLES WITHIN AN ORGANIZATION AND/OR MUNICIPALITY
TECH TALK - BI-WEEKLY SHORT PRESENTATIONS BY TECH AND STARTUP PROFESSIONALS IN SOUTH FLORIDA. WE MOVE THESE FROM WEST PALM BEACH TO MIAMI. LIGHT BITES AND DRINKS ARE PROVIDED DURING NETWORKING.
TEE OFF - 2ND ANNUAL TECH HUB SOUTH FLORIDA EVENT TO THANK OUR MEMBERS AND SHOW YOU HOW YOUR MEMBERSHIP DOLLARS ARE BEING USED. LEARN ABOUT OUR MISSION, VISION, AND WHAT WE HAVE ACCOMPLISHED TO DATE, AS WELL AS, WHAT'S PLANNED FOR 2021 AND BEYOND. FIND OUT HOW YOU CAN GET MORE INVOLVED AND HELP US CONTINUE BUILDING SOUTH FLORIDA INTO A TECH HUB! THIS MEMBERS-ONLY GOLF OUTING WILL INCLUDE FOOD, DRINKS, A SPECIAL PRESENTATION, GUEST SPEAKER, AND, OF COURSE, A GAME OF GOLF IN THE HI-TECH DRIVE SHACK WEST PALM BEACH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Cabus Employee | Officer | 32 | $84,615 |
Joseph Russo Executive Director | OfficerTrustee | 32 | $72,310 |
Cam Collins Board Member | Trustee | 2.5 | $0 |
Audrey Hammonds Secretary | Trustee | 2.5 | $0 |
David Bates Co-Chair | Trustee | 2.5 | $0 |
Cristina Escalante Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $254,131 |
| Fundraising events | $11,995 |
| Related organizations | $0 |
| Government grants | $43,225 |
| 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 | $309,351 |
| Total Program Service Revenue | $0 |
| Investment income | $575 |
| 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 | $323,016 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,410 |
| 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. | $188,163 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $8,175 |
| Other employee benefits | $6,719 |
| Payroll taxes | $6,529 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,135 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,921 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,250 |
| Travel | $3,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,872 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $64,552 |
| Total functional expenses | $302,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,893 |
| 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 | $41,893 |
| Accounts payable and accrued expenses | $2,192 |
| 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 | $2,192 |
| 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 | $39,701 |
| Total liabilities and net assets/fund balances | $41,893 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Palm Beach Technology Association Inc has recieved totaling $220,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Palm Beach & Martin Counties Inc West Palm Beach, FL PURPOSE: GENERAL SUPPORT | $110,000 |
Community Foundation For Palm Beach & Martin Counties Inc West Palm Beach, FL PURPOSE: GENERAL SUPPORT | $110,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
Institute Of Internal Auditors Lake Mary, FL | $101,351,692 | $59,361,984 |
Florida Association Of Realtors Orlando, FL | $96,568,925 | $47,578,542 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
American Welding Society Inc Miami, FL | $147,619,451 | $41,705,708 |
American Society Of Heating Refrigerating & A-C Engineers Peachtree Corners, GA | $58,779,760 | $22,960,689 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |