First Tech Fund Inc
- Assets
- $387.1k
- Revenue
- $570.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Brooklyn, NY
- Founding
- Data as of
- 04/2024
- EIN
- 85-1137904
Organization Overview
First Tech Fund Inc is located in Brooklyn, NY. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 04/2024, First Tech Fund Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Tech Fund Inc 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 04/2024, First Tech Fund Inc generated $570.9k in total revenue. All expenses for the organization totaled $431.4k during the year ending 04/2024.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
FIRST TECH FUND IS DEDICATED TO EMPOWERING LOW-INCOME HIGH SCHOOL STUDENTS IN NEW YORK CITY IN IDENTIFYING, NAVIGATING AND ATTAINING ACADEMIC AND PROFESSIONAL OPPORTUNTIES THROUGH A SUPPORTIVE, ADAPTIVE ECOSYSTEM WHERE STUDENTS GET ACCESS TO FREE TECH, FREE BROADBAND, SKILLS TRAINING, SOCIAL CAPITAL, MENTORSHIP AND MORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGH SCHOOL FELLOWSHIP PROGRAM: WE PROVIDE A AFTER-SCHOOL PROGRAM THAT PROVIDES TECHNOLOGY AND BROADBAND ACCESS, MENTORSHIP, DIGITAL SKILLS TRAINING, AND INSIGHT INTO CAREER PATHWAYS; SHOWING LOW-INCOME HIGH SCHOOL STUDENTS THE OPPORTUNITIES THAT EXIST AND GUIDING THEM ON HOW TO ATTAIN THEM, EQUALIZING THE ACADEMIC AND PROFESSIONAL PLAYING FIELDS.
ONE TIME TECH REQUEST PROGRAM: WE PROVIDE TECHNOLOGY TO HIGH SCHOOL AND COLLEGE STUDENTS IN NEED IN THE NEW YORK CITY COMMUNITY.
DUAL IMPACT INTERNSHIP PROGRAM: WE CONNECT UNDERREPRESENTED COLLEGE STUDENTS WITH PAID SUMMER INTERNSHIPS AT STARTUPS LED BY UNDERREPRESENTED FOUNDERS TO PROMOTE ECONOMIC MOBILITY AND DIVERSE ENTREPRENEURSHIP
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josue DE Paz President | Officer | 30 | $77,252 |
Hana Seligman Secretary | OfficerTrustee | 10 | $0 |
Alicia Baksh-Ousman Treasurer | OfficerTrustee | 2 | $0 |
Jerome J Sanders Board Chair | Trustee | 1 | $0 |
Nicole Chin-Lyn Compliance Officer | OfficerTrustee | 2 | $0 |
Hyobin Sung Director | Trustee | 1 | $0 |
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 | $561,922 |
| Noncash contributions included in lines 1a–1f | $34,860 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $561,922 |
| Total Program Service Revenue | $319 |
| 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 | $8,622 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $570,863 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $77,252 |
| Compensation of current officers, directors, key employees. | $15,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,696 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,948 |
| Payroll taxes | $20,939 |
| Fees for services: Management | $7,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,920 |
| Advertising and promotion | $4,810 |
| Office expenses | $5,573 |
| Information technology | $16,893 |
| Royalties | $0 |
| Occupancy | $5,036 |
| Travel | $4,692 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,850 |
| Interest | $325 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,340 |
| All other expenses | $2,319 |
| Total functional expenses | $431,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $321,229 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $37,610 |
| Prepaid expenses and deferred charges | $8,225 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $387,064 |
| Accounts payable and accrued expenses | $11,976 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,976 |
| Net assets without donor restrictions | $345,088 |
| Net assets with donor restrictions | $30,000 |
| 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 | $387,064 |