Fortworth Medtech Center Inc
- Assets
- $553.6k
- Revenue
- $716.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Fort Worth, TX
- Founding
- 07/2001
- Data as of
- 12/2021
- EIN
- 75-2775052
Organization Overview
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 12/2021, TECH Fort Worth employed 7 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 12/2021, TECH Fort Worth generated $716.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $654.6k during the year ending 12/2021. While expenses have increased by 0.4% per year over the past 7 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
2021
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 COMMERCIALIZE INNOVATIVE TECHNOLOGIES AND HAS FOUR MAIN PROGRAMS: (1). THINKLAB IS A PERSONAL INVESTMENT BY AN ENTREPRENEUR IN THE FOUNDATIONS OF THEIR TECHNOLOGY VENTURE AND SKILL DEVELOPMENT AS A FOUNDER. (2) SMARTSTART IS WHERE FOUNDERS BUILD THEIR STARTUP 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 THE PLAN, REFER THE COMPANY TO APPROPRIATE MANAGEMENT, CONSULTANTS, POTENTIAL PARTNERS, OR OTHERS, AND HELP THE COMPANY FIND APPROPRIATE FUNDING. (3) FASTFORWARD IS FOR EXECUTIVES SCALING HIGH-GROWTH COMPANIES AND TAKING ON NEW LEADERSHIP CHALLENGES. (4) MCREW, OUR TEAM BASED MENTORING PROGRAM, WITH EXPERIENCED MENTORS FROM THE LOCAL COMMUNITY.
OUTREACH TO THE COMMUNITY: OUR OUTREACH INITIATIVES HAVE A DAILY IMPACT ON THE COMMUNITY IN FORT WORTH AND ACROSS THE REGION. OUR TEAM PROVIDE DAILY RESPONSES TO COMMUNITY INQUIRIES, NETWORKS OUR MEMBERS ACROSS THE COMMUNITY AND VICE VERSA, AND SERVES ON COMMITTEES ACROSS MULTIPLE INDUSTRIES TO HELP FORT WORTH INNOVATE AND GROW. WE PARTNER WITH SEVERAL ORGANIZATIONS AND INSTITUTIONS, INCLUDING UNIVERSITIES, CORPORATIONS, AND OTHER ENTREPRENEUR SUPPORT ORGANIZATIONS TO SPREAD THE WORD ON OPPORTUNITIES AND RESOURCES FOR ENTREPRENEURS, STUDENTS, AND RESEARCHERS.
FOR INVESTORS: TECHFW FACILITATES THE INTERACTION BETWEEN ANGEL INVESTORS AND ENTREPRENEURS FROM ACROSS THE COUNTRY WITH OUR COWTOWN ANGELS PROGRAM, EDUCATES NEW INVESTORS THROUGH OUR SMARTVEST PROGRAM AND PARTNERS WITH ORGANIZATIONS TO PRODUCE EVENTS CONNECTING INVESTORS AND ENTREPRENEURS. THE COWTOWN ANGELS PROGRAM WAS STARTED IN SEPTEMBER 2012. TECHFW HELPS PREPARE THE APPLYING COMPANIES SO THAT THEY ARE BETTER ABLE TO PRESENT THEIR BUSINESSES WELL, 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 HER OWN INVESTING DECISIONS. COWTOWN ANGELS GENERALLY HAS THREE PROFILES OF MEMBERS: RETIRED PROFESSIONALS, SERIAL ENTREPRENEURS, AND PROFESSIONAL INVESTORS, INCLUDING FAMILY OFFICES AND PRIVATE EQUITY FIRMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hayden Blackburn Executive Dir. | Officer | 40 | $102,354 |
Alem Boukadoum Treasurer | OfficerTrustee | 1 | $0 |
Doug Clayton Chairman | OfficerTrustee | 1 | $0 |
Brent Sorrells Secretary | OfficerTrustee | 1 | $0 |
Melissa Acosta Director | Trustee | 2 | $0 |
Stella Robertson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,860 |
| All other contributions, gifts, grants, and similar amounts not included above | $380,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $441,541 |
| Total Program Service Revenue | $274,631 |
| Investment income | $172 |
| 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 | $716,344 |
| 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. | $115,167 |
| Compensation of current officers, directors, key employees. | $26,179 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $294,605 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,366 |
| Payroll taxes | $31,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,853 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,920 |
| Advertising and promotion | $1,301 |
| Office expenses | $6,106 |
| Information technology | $25,149 |
| Royalties | $0 |
| Occupancy | $23,290 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,953 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,061 |
| All other expenses | $0 |
| Total functional expenses | $654,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,346 |
| Savings and temporary cash investments | $383,350 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $3,250 |
| 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 | $14,618 |
| Net Land, buildings, and equipment | $11,989 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $553,553 |
| Accounts payable and accrued expenses | $55,518 |
| Grants payable | $0 |
| Deferred revenue | $63,465 |
| 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 | $118,983 |
| Net assets without donor restrictions | $429,570 |
| Net assets with donor restrictions | $5,000 |
| 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 | $553,553 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fortworth Medtech Center Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Satori Foundation Dallas, TX PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Orleans Physician Services Inc Marrero, LA | $14,295,398 | $37,317,749 |
Circuit Events Local Organizing Committee Austin, TX | $5,758,250 | $14,482,431 |
American Productivity & Quality Center Inc Houston, TX | $30,940,165 | $18,224,607 |
Dallas Tourism Public Improvement District Corporation Dallas, TX | $29,263,170 | $10,147,188 |
Better Business Bureau Of North Central Texas Inc Dallas, TX | $3,812,795 | $6,541,958 |
Arkansas Capital Corporation Little Rock, AR | $35,717,433 | $8,371,701 |
Open Compute Project Foundation Austin, TX | $5,357,330 | $7,132,647 |
San Antonio Tourism Public Improvement District Corporation San Antonio, TX | $8,579,205 | $6,386,484 |
William A Lawson Institute For Peace & Prosperity Houston, TX | $12,461,470 | $3,692,985 |
Dottie System Inc Baton Rouge, LA | $4,069,603 | $4,084,315 |
Oklahoma Alliance For Manufacturing Excellence Inc Tulsa, OK | $2,792,871 | $3,651,596 |
La Fe Preparatory School Inc El Paso, TX | $1,712,513 | $2,611,735 |