Institute For Technology Development Inc
- Assets
- $6.2m
- Revenue
- $457.0k
- Investments
- $5.2m
- Employees
- 0
- Location
- Ridgeland, MS
- Founding
- 05/1985
- Data as of
- 09/2023
- EIN
- 64-0689319
Organization Overview
Institute For Technology Development Inc is located in Ridgeland, MS. The organization was established in 1985. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Technology Development 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 09/2023, Institute For Technology Development Inc generated $457.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $576.4k during the year ending 09/2023. While expenses have increased by 4.0% 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.
Since 2016, Institute For Technology Development Inc has awarded 14 individual grants totaling $1,317,465. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashby Foote III President | 0.3 | $0 | |
Bruce Deer Vice President | 0.3 | $0 | |
J Kelley Williams Treasurer & Secretary | 0.3 | $0 | |
Charles Grayson End Date 91123 Secretary | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8 |
| Dividends & Interest | $142,808 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $314,200 |
| Capital Gain Net Income | $314,200 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $457,016 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $61,200 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,053 |
| Depreciation | $0 |
| Occupancy | $10,800 |
| Travel, conferences, and meetings | $185 |
| Printing and publications | $2,654 |
| Other expenses | $124,806 |
| Total operating and administrative expenses | $362,305 |
| Contributions, gifts, grants paid | $214,132 |
| Total expenses and disbursements | $576,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,520 |
| Savings and temporary cash investments | $859,364 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,200,859 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,914 |
| Total liabilities | $1,914 |
Grants Awarded
Over the last fiscal year, Institute For Technology Development Inc has awarded $214,132 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MAGNOLIA TRIBUNE INSTITUTE PURPOSE: GENERAL OPERATIONS | $62,500 |
MS CENTER FOR PUBLIC POLICY PURPOSE: GENERAL OPERATIONS | $151,632 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stephenson Technologies Corporation Baton Rouge, LA | $6,150,468 | $13,311,133 |
Stephenson Stellar Corporation Shreveport, LA | $4,408,353 | $8,815,881 |
Stephenson Endeavors Corporation Shreveport, LA | $1,496,307 | $0 |
Louisiana Tech Applied Research Corporation Bossier City, LA | $2,290,699 | $2,140,211 |
American Council Of Engineering Compainies Of Tennessee Inc Nashville, TN | $598,050 | $1,213,933 |
Institute For Technology Development Inc Ridgeland, MS | $6,200,859 | $457,016 |
Business Technology Association Southeast Baton Rouge, LA | $909,876 | $338,204 |
Make Nashville Nashville, TN | $118,528 | $254,455 |
Society Of American Military Engineers Mobile, AL | $436,735 | $61,042 |
Blazor Technology Foundation Ridgeland, MS | $0 | $0 |
Power Modulator Conference Mobile, AL | $13,355 | $0 |
Maanavta Research Organization Inc London, AR | $0 | $57 |