Montana Technology Enterprise Center
- Assets
- $7.2m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 34
- Location
- Missoula, MT
- Founding
- 09/2001
- Data as of
- 06/2023
- EIN
- 81-0529738
Organization Overview
Montana Technology Enterprise Center is located in Missoula, MT. The organization was established in 2001. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Montana Technology Enterprise Center employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montana Technology Enterprise Center 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 06/2023, Montana Technology Enterprise Center generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $4.5m during the year ending 06/2023. While expenses have increased by 25.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FACILITIES FOR NEW TECHNOLOGY-BASED START UP BUSINESSES TO OBTAIN INNOVATIVE RESEARCH AND CREATE JOBS TO REVITALIZE THE REGION AND STATE. MONTEC STRIVES TO BOLSTER LOCAL START-UPS AND TO ENCOURAGE THE COMMERCIALIZATION OF UNIVERSITY RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FACILITIES FOR NEW TECHNOLOGY BASED START-UP BUSINESSES; TO OBTAIN INNOVATIVE RESEARCH FOR NEW TEHCNOLOGY BASED START-UP BUSINESSES; TO CREATE QUALITY JOBS AND TO REVITALIZE AND DIVERSIFY REGIONAL AND STATE ECONOMICS AND TO PROMOTE TECHNOLOGY TRANSFER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brigitta Miranda-Freer Director Of Operations | OfficerTrustee | 10 | $57,622 |
Scott Whittenburg President And Board Chair | OfficerTrustee | 10 | $18,440 |
Christina Henderson Vice Chair | OfficerTrustee | 1 | $0 |
Jay Evans Secretary | OfficerTrustee | 1 | $0 |
Paul Lasiter Director | Trustee | 1 | $0 |
Paul Gladen Director Of Programs | Officer | 10 | $9,123 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $404,837 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,685 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $505,522 |
| Total Program Service Revenue | $4,146,561 |
| Investment income | $22 |
| 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 | $4,652,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,756 |
| 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. | $135,467 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,435,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $166,044 |
| Payroll taxes | $132,163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,330 |
| Fees for services: Accounting | $50,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,512,802 |
| Advertising and promotion | $253,152 |
| Office expenses | $86,738 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $222,264 |
| Travel | $145,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,747 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,749 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,459,070 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,550,737 |
| Savings and temporary cash investments | $29,967 |
| Pledges and grants receivable | $14,236 |
| Accounts receivable, net | $219,667 |
| 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 | $21,722 |
| Net Land, buildings, and equipment | $5,368,228 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,204,557 |
| Accounts payable and accrued expenses | $487,713 |
| Grants payable | $0 |
| Deferred revenue | $709,948 |
| 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 | $568,420 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,498 |
| Total liabilities | $1,800,579 |
| Net assets without donor restrictions | $5,388,847 |
| Net assets with donor restrictions | $15,131 |
| 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 | $7,204,557 |
Grants Awarded
Over the last fiscal year, Montana Technology Enterprise Center has awarded $14,513 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
IMMERSIVE REALITY GROUP PURPOSE: Tools for product development and marketing | $5,015 |
GAIZE INC PURPOSE: Conference attendance, virtual reality equipment | $9,498 |