Fortworth Medtech Center Inc, operating under the name TECH Fort Worth, is located in Fort Worth, TX. The organization was established in 2001. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, TECH Fort Worth employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. TECH Fort Worth 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 12/2023, TECH Fort Worth generated $826.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $632.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TECHFW ENCOURAGES THE DEVELOPMENT OF THE TECHNOLOGY BUSINESS COMMUNITY IN NORTH TEXAS BY HELPING ENTREPRENEURS COMMERCIALIZE INNOVATIVE TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR ENTREPRENEURS: TECHFW IS ENTREPRENEURS HELPING ENTREPRENEURS COMMERCIALIZEINNOVATIVE TECHNOLOGIES. TECHFW HAS FOUR MAIN PROGRAMS FOR ENTREPRENEURS. THINKLAB ISA PERSONAL INVESTMENT BY AN ENTREPRENEUR IN THE FOUNDATIONS OF THEIR TECHNOLOGYVENTURE AND SKILL DEVELOPMENT AS A FOUNDER AND ENTREPRENEUR. BY DESIGN, THE THINKLABPROGRAM HELPS FOUNDERS AND ENTREPRENEURS DETERMINE WHETHER THERE IS ENOUGH VALUE TOPURSUE A PRODUCT OR SERVICE IDEA, IDENTIFY POTENTIAL MARKETS, DEVELOP A PATH TOMARKET STRATEGY, AND LEARN HOW TO COMMUNICATE THE VALUE OF THE IDEA TO EARLYSTAKEHOLDERS AND ADOPTERS. SMARTSTART IS WHERE FOUNDERS BUILD AND LAUNCH THEIRSTARTUP AND TIRELESSLY ADVANCE THE PEOPLE, TOOLS AND CULTURE WITHIN THEIR VENTURE.THE GOAL OF SMARTSTART IS TO MAKE IT HAPPEN, THROUGH CUSTOMIZED EFFORTS TO REFINE THEPLAN, REFER THE COMPANY TO APPROPRIATE MANAGEMENT, CONSULTANTS, POTENTIAL PARTNERS,OR OTHERS, AND HELP THE COMPANY FIND APPROPRIATE FUNDING, ETC. SMARTSTART CLIENTSCAN LEASE SPACE DURING THE TIME THEY NEED TO IMPLEMENT THEIR PLANS. FASTFORWARD ISFOR EXECUTIVES SCALING HIGH-GROWTH COMPANIES AND TAKING ON NEW LEADERSHIP CHALLENGESWITH THEIR BUSINESS MODEL. NEW EXECUTIVES OFTEN NEED HELP IN SEEKING FUNDING FORGROWTH, HIRING, MARKETING, SALES, IMPLEMENTING PROCESSES, AND MANY OTHER CHALLENGES.COMPANIES IN SMARTSTART AND FAST FORWARD QUALIFY FOR OUR M-CREW PROGRAM, WHICH IS ATECHFW DIFFERENTIATOR BECAUSE A TEAM OF MENTORS WITH DIVERSE EXPERIENCES WORKS WITHCOMPANIES FOR SIX MONTHS. DURING THIS TIME, THEY FOCUS ON CENTRAL BARRIERS TO GROWTHAND IMPLEMENTATION THAT THE FOUNDERS AND EXECUTIVES ARE FACING. OUR ABILITY TORECRUIT SKILLED MENTORS IN DIVERSE INDUSTRIES AND MATCH THEM TO THE NEEDS OF THECOMPANIES HAS BEEN THE SUCCESS OF THE PROGRAM.
OUTREACH TO THE COMMUNITY: OUR OUTREACH INITIATIVES HAVE A DAILY IMPACT ON THECOMMUNITY. TECHFW IS AT THE EPICENTER OF INNOVATION IN FORT WORTH AND RESPONDS DAILYTO COMMUNITY INQUIRIES, NETWORKS ITS CLIENTS TO THE COMMUNITY AND VICE VERSA, ANDSERVES ON COMMITTEES ACROSS MULTIPLE INDUSTRIES TO HELP FORT WORTH INNOVATE AND GROW.DURING THE YEAR, TECHFW PRODUCES MONTHLY NEWSLETTERS, WEEKLY EVENTS, AND OTHERSPECIALTY EVENTS FOR THE ENTREPRENEURIAL COMMUNITY AND OUR MEMBERS. WE PARTNER WITHSEVERAL ORGANIZATIONS AND INSTITUTIONS, INCLUDING UNIVERSITIES, CORPORATIONS, SERVICEPROVIDERS, AND OTHER ENTREPRENEUR SUPPORT ORGANIZATIONS.
FOR INVESTORS: TECHFW FACILITATES THE INTERACTION BETWEEN ANGEL INVESTORS ANDENTREPRENEURS FROM ACROSS THE COUNTRY WITH OUR COWTOWN ANGELS PROGRAM, EDUCATES NEW INVESTORS THROUGH OUR SMARTVEST PROGRAM AND PARTNERS WITH ORGANIZATIONS TO PRODUCEEVENTS CONNECTING INVESTORS AND ENTREPRENEURS. THE COWTOWN ANGELS PROGRAM WASSTARTED IN SEPTEMBER 2012 TO CREATE A MECHANISM WHEREBY LOCAL TECHNOLOGY-BASEDBUSINESSES COULD GAIN ACCESS TO LOCAL FUNDING BY PRIVATE INVESTORS. MEMBERS, WHOARE ACCREDITED INVESTORS, PAY AN ANNUAL FEE THAT ENTITLES THEM TO PARTICIPATE INMONTHLY MEETINGS TO HEAR PITCHES FROM COMPANIES. TECHFW COACHES AND HELPS PREPARETHE APPLYING COMPANIES SO THAT THEY ARE BETTER ABLE TO PRESENT THEIR BUSINESSESWELL, PROVIDES FEEDBACK TO THE APPLYING COMPANIES BEFORE AND AFTER THEIR PITCHES,AND FACILITATES ALL THE MEETINGS OF THE ANGEL NETWORK. EACH MEMBER MAKES HIS OR HEROWN INVESTING DECISIONS. COWTOWN ANGELS GENERALLY HAS THREE PROFILES OF MEMBERS:RETIRED PROFESSIONALS, SERIAL ENTREPRENEURS, AND PROFESSIONAL INVESTORS, INCLUDINGFAMILY OFFICES AND PRIVATE EQUITY FIRMS. COWTOWN ANGELS IS A MEMBER OF THE ANGELCAPITAL ASSOCIATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Hayden Blackburn Executive Dir. | Officer | 40 | $105,488 |
Melissa Acosta Director | Trustee | 1 | $0 |
Laura Baldwin Secretary | OfficerTrustee | 1 | $0 |
Alem Boukadoum Treasurer | OfficerTrustee | 1 | $0 |
Stella Robertson Director | Trustee | 1 | $0 |
Elyse Dickerson Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $300,000 |
All other contributions, gifts, grants, and similar amounts not included above | $134,471 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $434,471 |
Total Program Service Revenue | $391,837 |
Investment income | $81 |
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 | $826,389 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $27,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $33,181 |
Compensation of current officers, directors, key employees. | $7,103 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $276,081 |
Pension plan accruals and contributions | $27,621 |
Other employee benefits | $11,395 |
Payroll taxes | $26,002 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $17,010 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $42,426 |
Advertising and promotion | $22,800 |
Office expenses | $5,583 |
Information technology | $20,397 |
Royalties | $0 |
Occupancy | $5,786 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $90,755 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,360 |
Insurance | $7,601 |
All other expenses | $246 |
Total functional expenses | $632,577 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $173,438 |
Savings and temporary cash investments | $404,698 |
Pledges and grants receivable | $1,607,452 |
Accounts receivable, net | $7,550 |
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 | $3,270 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,196,408 |
Accounts payable and accrued expenses | $45,330 |
Grants payable | $0 |
Deferred revenue | $167,890 |
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 | $213,220 |
Net assets without donor restrictions | $645,058 |
Net assets with donor restrictions | $1,338,130 |
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 | $2,196,408 |