Tech Valley Center Of Gravity Incorporated
- Assets
- $234.8k
- Revenue
- $444.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Troy, NY
- Founding
- 05/2015
- Data as of
- 12/2021
- EIN
- 90-0922584
Organization Overview
Tech Valley Center Of Gravity Incorporated is located in Troy, NY. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Tech Valley Center Of Gravity Incorporated employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech Valley Center Of Gravity Incorporated 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, Tech Valley Center Of Gravity Incorporated generated $444.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $421.6k during the year ending 12/2021. While expenses have increased by 16.4% per year over the past 7 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
TECH VALLEY CENTER OF GRAVITY IS A MAKERSPACE, PROTOTYPING CENTER, MANUFACTURING INCUBATOR, STEAM EDUCATION CENTER, COMMUNITY GATHERING SPACE AND CREATIVE COMMUNITY. AS A NOT-FOR-PROFIT COMMUNITY RESOURCE WE NURTURE THE PERSONAL AND ECONOMIC GROWTH OF OUR MEMBERS, OUR NEIGHBORS AND THE WIDER TECH VALLEY COMMUNITY THROUGH OUR WORK AND OUR COLLABORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING PROGRAMS TO FOSTER INNOVATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Kennedy Executive Di | OfficerTrustee | 40 | $57,600 |
Michael Lobsinger President | Officer | 10 | $0 |
Gordon Clement Vice Preside | Officer | 2 | $0 |
Beth Bornick Secretary | Officer | 2 | $0 |
Dan Lortie Treasurer | Officer | 2 | $0 |
Eric Fasser Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $126,525 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $204,299 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,738 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $351,562 |
| Total Program Service Revenue | $26,667 |
| 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 | $444,290 |
| 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. | $57,600 |
| Compensation of current officers, directors, key employees. | $34,560 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,234 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,716 |
| Advertising and promotion | $1,789 |
| Office expenses | $8,656 |
| Information technology | $7,996 |
| Royalties | $0 |
| Occupancy | $170,152 |
| Travel | $3,079 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,804 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,086 |
| Insurance | $8,811 |
| All other expenses | $860 |
| Total functional expenses | $421,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,824 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,758 |
| 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 | $12,172 |
| Net Land, buildings, and equipment | $45,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,511 |
| Total assets | $234,791 |
| Accounts payable and accrued expenses | $6,323 |
| 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 | $47,756 |
| Unsecured mortgages and notes payable | $144,600 |
| Other liabilities | $0 |
| Total liabilities | $198,679 |
| Net assets without donor restrictions | $36,112 |
| Net assets with donor restrictions | $0 |
| 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 | $234,791 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tech Valley Center Of Gravity Incorporated has recieved totaling $175.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $175 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uncommon Schools Inc New York, NY | $293,550,038 | $84,601,875 |
Educational Commission For Foreign Medical Graduates Philadelphia, PA | $218,692,756 | $72,786,979 |
Amsterdam House Continuing Care Retirement Community Inc Port Washington, NY | $223,728,704 | $36,044,280 |
Sponsors For Educational Opportunity Inc New York, NY | $71,324,699 | $43,724,114 |
The Achievement Network Ltd Boston, MA | $23,559,572 | $30,118,976 |
Leadership For Educational Equity New York, NY | $8,736,194 | $32,582,451 |
Foundation For City College New York, NY | $332,549,861 | $102,453,904 |
Saga Innovations Framingham, MA | $30,229,601 | $39,236,690 |
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
Collier Services Wickatunk, NJ | $8,471,748 | $15,685,679 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |