Montana Technology Enterprise Center
- Assets
- $6.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Missoula, MT
- Founding
- 09/2001
- Data as of
- 06/2021
- 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 06/2021, Montana Technology Enterprise Center employed 7 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 06/2021, Montana Technology Enterprise Center generated $1.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. While expenses have increased by 7.9% per year over the past 6 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
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 BUSINESS; TO OBTAIN INNOVATION RESEARCH FOR NEW TECHNOLOGY 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 | $46,779 |
Scott Whittenburg President | OfficerTrustee | 1 | $0 |
Christina Henderson Director | Trustee | 1 | $0 |
Paul Lasiter Director | Trustee | 1 | $0 |
Jack Lawson Director | Trustee | 1 | $0 |
Jay Evans Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $170,476 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $180,478 |
| Total Program Service Revenue | $1,054,629 |
| Investment income | $2 |
| 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 | $1,235,487 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,752 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,954 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,206 |
| Fees for services: Management | $22,519 |
| Fees for services: Legal | $3,519 |
| Fees for services: Accounting | $31,929 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $465,755 |
| Advertising and promotion | $2,387 |
| Office expenses | $13,036 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $172,227 |
| Travel | $453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $30,523 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $205,835 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,134,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,110 |
| Savings and temporary cash investments | $6,951 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,432 |
| 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 | $25,724 |
| Net Land, buildings, and equipment | $5,506,969 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,975,186 |
| Accounts payable and accrued expenses | $83,608 |
| Grants payable | $0 |
| Deferred revenue | $85,249 |
| 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 | $692,937 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,169 |
| Total liabilities | $882,963 |
| Net assets without donor restrictions | $5,035,230 |
| Net assets with donor restrictions | $56,993 |
| 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 | $5,975,186 |
Grants Awarded
Over the last fiscal year, Montana Technology Enterprise Center has awarded $15,268 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
XD BIO INC PURPOSE: Website Design | $5,231 |
MAANA DISCOVERIES INC PURPOSE: Branding and website design | $5,037 |
Pablo, MT PURPOSE: Purchase of spectrophotometer to lab | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montana Technology Enterprise Center has recieved totaling $850,000.
| Awarding Organization | Amount |
|---|---|
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $850,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |
Wolf Run Village Inc Watford City, ND | $13,751,715 | $5,775,669 |
Glacier Country Regional Tourism Commission Inc Missoula, MT | $1,843,193 | $3,815,172 |
South Segment Community Development Corporation Halliday, ND | $18,333,660 | $2,595,332 |
Fargo Moorhead Convention & Visitors Bureau Inc Fargo, ND | $3,704,311 | $2,547,498 |
Four Bands Community Fund Inc Eagle Butte, SD | $19,022,561 | $5,647,220 |
Emerging Prairie Fargo, ND | $1,252,984 | $1,382,080 |
Lake County Community Development Corporation Ronan, MT | $8,061,823 | $2,376,944 |
Big Sky Economic Development Corporation Billings, MT | $3,059,757 | $1,982,472 |
Dakota Business Lending Fargo, ND | $6,874,323 | $2,297,592 |
Bear Paw Development Corp Of North Montana Hill County Courthouse Havre, MT | $10,546,975 | $3,629,842 |
Capital Matrix Inc Boise, ID | $3,302,883 | $1,706,997 |