16 Tech Community Corporation
- Assets
- $134.4m
- Revenue
- $21.3m
- Investments
- $0.0
- Employees
- 24
- Location
- Indianapolis, IN
- Founding
- 01/2016
- Data as of
- 12/2022
- EIN
- 81-0853467
Organization Overview
16 Tech Community Corporation is located in Indianapolis, IN. The organization was established in 2016. 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 12/2023, 16 Tech Community Corporation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 16 Tech Community Corporation 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 12/2022, 16 Tech Community Corporation generated $21.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $9.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, 16 Tech Community Corporation has awarded 60 individual grants totaling $13,176,260. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
16 TECH COMMUNITY CORPORATION (16TCC) IS RESPONSIBLE FOR THE PROGRAMMATIC AND PHYSICAL DEVELOPMENT OF THE 16 TECH INNOVATION DISTRICT, A GROWING DESTINATION FOR ENTREPRENEURSHIP AND INNOVATION IN INDIANAPOLIS AND A DRIVER OF THE TECH ENABLEMENT OF THE LIFE-SCIENCES AND ADVANCED MANUFACTURING INDUSTRIES KEY TO INDIANA'S ECONOMY. 16 TECH IS CONNECTED TO DIVERSE NEIGHBORHOODS AND INTENTIONALLY RESOURCED WITH FACILITIES AND PROGRAMS TO FOSTER INNOVATION, CATALYZING THE ECONOMIC GROWTH OF THE CITY AND STATE.
Describe the Organization's Program Activity:
THE 16 TECH INNOVATION DISTRICT IS A GROWING DESTINATION FOR INNOVATION AND ENTREPRENEURSHIP AND A DRIVER OF THE TECH ENABLEMENT OF THE LIFE-SCIENCES AND ADVANCED MANUFACTURING INDUSTRIES KEY TO INDIANA'S ECONOMY. CONNECTED TO DIVERSE NEIGHBORHOODS IN DOWNTOWN INDIANAPOLIS AND INTENTIONALLY RESOURCED WITH FACILITIES AND PROGRAMS TO FOSTER INNOVATION, 16 TECH IS HOME TO THREE BUILDINGS WITH A VARIETY OF OFFICE, WET AND DRY LAB SPACES AND MAKERSPACES AND 200+ INNOVATION RELATED ENTITIES THAT EMPLOY MORE THAN 800 PEOPLE. AT FULL BUILD-OUT, 16 TECH ANTICIPATES MORE 2 MILLION SQUARE FEET OF INNOVATION RELATED SPACE THAT SUPPORT 3,000 JOBS, PROVIDING OPPORTUNITIES TO TRAIN, RETRAIN AND ATTRACT TALENT. 16 TECH IS DRIVING MOMENTUM, SERVING AS INDIANA'S MOST CENTRAL AND ACCESSIBLE ENTRANCE INTO THE STATE'S INNOVATION ECOSYSTEM; A DEDICATED PLACE FOR INNOVATION-DRIVEN ENTERPRISES AND ENTREPRENEURS TO CONNECT WITH UNIVERSITY RESOURCES, RESEARCH FACILITIES AND CORPORATE ASSETS, SUPPORTED BY QUALITY-OF-LIFE SERVICES IN A WORK, PLAY, LEARN ENVIRONMENT. THE NONPROFIT 16 TECH COMMUNITY CORPORATION (16TCC) OVERSEES THE PROGRAMMATIC AND PHYSICAL DEVELOPMENT OF THE DISTRICT AND ENSURES BENEFITS OF ECONOMIC GROWTH, NEW INVESTMENT AND JOB CREATION EXTEND TO NEARBY NEIGHBORHOODS AS WELL AS THE CITY, THE REGION, AND THE STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lawther Johnson Chair | OfficerTrustee | 1 | $0 |
Tory Castor Secretary | OfficerTrustee | 1 | $0 |
Robert W Coy Jr President And CEO Thru April | OfficerTrustee | 40 | $237,994 |
Emily Krueger President And CEO | OfficerTrustee | 40 | $309,792 |
Jeffrey Harrison Treasurer | OfficerTrustee | 1 | $0 |
Kristin Mays-Corbitt Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kokosing Contruction Co Construction Services | 12/30/22 | $3,048,368 |
Wilhelm Taylor Brothers Joint Venture Construction Services | 12/30/22 | $6,833,322 |
Schaich Bergermann And Partner Lp Construction Services | 12/30/22 | $512,895 |
American Structure Point Construction Management & Design | 12/30/22 | $1,291,309 |
Indianapolis Power & Light Construction Services | 12/30/22 | $1,654,784 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $14,090,825 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,328,438 |
| Noncash contributions included in lines 1a–1f | $3,204,831 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,419,263 |
| Total Program Service Revenue | $4,618,649 |
| Investment income | $187,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,376 |
| 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 | $21,301,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $653,371 |
| 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. | $808,973 |
| Compensation of current officers, directors, key employees. | $180,651 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,333,011 |
| Pension plan accruals and contributions | $105,201 |
| Other employee benefits | $198,449 |
| Payroll taxes | $143,510 |
| Fees for services: Management | $43,200 |
| Fees for services: Legal | $209,366 |
| Fees for services: Accounting | $56,600 |
| Fees for services: Lobbying | $66,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,985 |
| Advertising and promotion | $238,923 |
| Office expenses | $248,898 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,675,922 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $482,747 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,183,121 |
| Insurance | $126,483 |
| All other expenses | $0 |
| Total functional expenses | $9,829,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,083,333 |
| Savings and temporary cash investments | $9,894,366 |
| Pledges and grants receivable | $7,004,687 |
| Accounts receivable, net | $663,050 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,118,027 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $86,771 |
| Net Land, buildings, and equipment | $57,600,039 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,976,683 |
| Total assets | $134,426,956 |
| Accounts payable and accrued expenses | $4,241,823 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $27,915,196 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,650,605 |
| Total liabilities | $42,807,624 |
| Net assets without donor restrictions | $89,100,511 |
| Net assets with donor restrictions | $2,518,821 |
| 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 | $134,426,956 |
Grants Awarded
Over the last fiscal year, 16 Tech Community Corporation has awarded $639,855 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
HERRON CLASSICAL SCHOOLS PURPOSE: DESIGN WEEK AT HERRON - RIVERSIDE SCHOOLS | $28,350 |
TRIPLE T ACADEMY PURPOSE: NINE 2 SIX PROGRAM SUPPORT | $25,000 |
FLANNER HOUSE OF INDIANAPOLIS INC PURPOSE: SUPPORT OF THREE PROGRAM INITIATIVES | $71,000 |
CODE BLACK INDY - AUSTIN JOHNSON PURPOSE: WORKFORCE DEVELOPMENT FOR ADULTS | $25,000 |
VANGUARD COLLEGIATE OF INDIANAPOLIS PURPOSE: STEAM EDUCATION INITIATIVES | $50,000 |
COMMUNITY ASSETS -TYRONE CHANDLER PURPOSE: PIPELINE CLASSROOM 2 CAREER PROGRAM SUPPORT | $25,000 |