Internet Of Things Consortium Inc

Organization Overview

Internet Of Things Consortium Inc is located in Montclair, NJ. The organization was established in 2017. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Internet Of Things Consortium Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2022, Internet Of Things Consortium Inc generated $320.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $33.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (39.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

INTERNET OF THINGS CONSORTIUM, INC.'S CURRENT AND PLANNED ACTIVITIES ARE INTENDED TO ADVANCE THE GROWTH OF THE INTERNET OF THINGS IOT AMONG VARIOUS INDUSTRY VERTICALS AND TO DEVELOP IOT BUSINESS MODELS AROUND A WIDE RANGE OF INDUSTRIES TO PROMOTE KNOWLEDGE AND AWARENESS OF IOT WITHIN THE BUSINESS COMMUNITY AT LARGE AND TO HELP ENHANCE THE EFFICIENCY AND VALUE OF IOT TO BUSINESSES BY FOSTERING AND DISSEMINATING RESEARCH, PRESENTATIONS AND STUDIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEMBER MEETINGS - NATIONWIDE EVENTS THAT FOSTER DIALOG AND PARTNERSHIPS NATIONWIDE TASK FORCES ON PRIVACY AND SECURITY / CONNECTED HOME - NATIONWIDE RESEARCH AND EDUCATIONAL WORKSHOPS - NATIONWIDE.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$240,000
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$80,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$320,000
Total Program Service Revenue$0
Investment income $0
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 $320,000

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