Undersea Technology Innovation Center

Organization Overview

Undersea Technology Innovation Center is located in Middletown, RI. The organization was established in 2016. According to its NTEE Classification (U42) the organization is classified as: Engineering, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Undersea Technology Innovation 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 12/2021, Undersea Technology Innovation Center generated $1.4m in total revenue. All expenses for the organization totaled $291.7k during the year ending 12/2021. While expenses have increased by 39.9% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO FACILITATE COLLABORATIVE, RAPID DEVELOPMENT, TESTING AND COMMERCIALIZATION OF INNOVATIVE UNDERSEA AND MARITIME TECHNOLOGY FOR COMMERICAL, ACADEMIC, AND NONPROFIT ORGANIZATIONS CONTRIBUTING TO THE DEFENSE AND SECURITY OF OUR NATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROTOTYPE DEVELOPMENT FOR THE DEPARTMENT OF DEFENSE. SUPPORTING THE DEPARTMENT OF NAVY OTHER TRANSACTION AGREEMENT FOR UNDERSEA TECHNOLOGY, UTIC MANAGES THE CONSORTIUM OF NONTRADITIONAL, NONPROFIT, ACADEMIC, AND BUSINESS ORGANIZATIONS TO ALLOW THE GOVERNMENT STREAMLINED ACCESS TO INNOVATIVE TECHNOLOGIES IN SUPPORT OF NATIONAL SECURITY.


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Board, Officers & Key Employees

Name (title)Compensation
Molly Donohue Magee
Executive Director
$3,840
Kelly Mendell
Treasurer
$0
Deborah Proffitt
Chair
$0
Brian Mckeon
Director
$0
Don Mccormack
Director
$0
Mike Connor
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ati
Contract Mgmt
$102,771
Senedia
Management Service
$126,364
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$1,370,443
Investment income $80
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 $1,370,523

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