Technology Entrepreneur Center Inc
- Assets
- $14.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 9
- Location
- St Louis, MO
- Founding
- 05/2004
- Data as of
- 12/2021
- EIN
- 14-1870269
Organization Overview
Technology Entrepreneur Center Inc, operating under the name Tec Inc, is located in St Louis, MO. The organization was established in 2004. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Tec Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tec 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 12/2021, Tec Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 8.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TEC OPERATES TO SUPPORT TECHNOLOGY BASED ENTREPRENEURS IN THE ST. LOUIS REGION.
Describe the Organization's Program Activity:
PROVIDE SERVICES AND TECHNICAL ASSISTANCE TO START UP COMPANIES IN AREAS DESIGNATED AS "DISTRESSED" COMMUNITIES AND TO ASSIST THOSE COMPANIES IN HIRING RESIDENTS OF THE "DISTRESSED" COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Hagen President | OfficerTrustee | 40 | $162,000 |
Jean Roberson Treasurer | OfficerTrustee | 5 | $0 |
Mark Showers Chairman | OfficerTrustee | 5 | $0 |
Otis Williams Director | Trustee | 5 | $0 |
Mark Donavon Director | Trustee | 5 | $0 |
Scott Veit Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $662,458 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $163,420 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,085,455 |
| Noncash contributions included in lines 1a–1f | $3,287 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,911,333 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$117,298 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$60,536 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,740,629 |
| 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. | $131,905 |
| Compensation of current officers, directors, key employees. | $17,587 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $377,816 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,981 |
| Payroll taxes | $38,304 |
| Fees for services: Management | $0 |
| 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 | $49,423 |
| Advertising and promotion | $9,278 |
| Office expenses | $3,452 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,598 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,328 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $508,133 |
| Insurance | $54,139 |
| All other expenses | $28,979 |
| Total functional expenses | $1,821,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $785,765 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $134,056 |
| Accounts receivable, net | $143,013 |
| 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 | $32,023 |
| Net Land, buildings, and equipment | $13,537,701 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $160,627 |
| Other assets | $0 |
| Total assets | $14,793,185 |
| Accounts payable and accrued expenses | $180,933 |
| Grants payable | $0 |
| Deferred revenue | $140,397 |
| 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 | $6,564,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,624 |
| Total liabilities | $6,954,989 |
| Net assets without donor restrictions | $7,798,196 |
| Net assets with donor restrictions | $40,000 |
| 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 | $14,793,185 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Technology Entrepreneur Center Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Verizon Foundation Basking Ridge, NJ PURPOSE: GEOSPATIAL INNOVATION CENTER AT T-REX | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Allies For Community Business Inc Chicago, IL | $54,726,016 | $12,452,578 |
Bunker Labs Nfp Inc Chicago, IL | $3,938,287 | $4,312,612 |
Brightbridge Inc Chattanooga, TN | $120,622,501 | $3,473,186 |
Technology Entrepreneur Center Inc St Louis, MO | $14,793,185 | $1,740,629 |
Bioconnect Iowa Des Moines, IA | $1,127,931 | $1,803,790 |
South Central Ozark Council Of Governments Pomona, MO | $2,561,241 | $1,014,983 |
Custer County Foundation Inc Broken Bow, NE | $7,035,087 | $2,062,629 |
Pipeline Inc Kansas City, KS | $850,172 | $659,645 |
Entrepreneur Development Center Southwest Tennessee Inc Jackson, TN | $909,692 | $610,826 |
Frontier Financial Partners Inc Emporia, KS | $2,116,575 | $668,462 |
Tristate Minority Supplier Development Council Inc Nashville, TN | $1,436,779 | $762,988 |
Sync Space Entrepreneur Center Kingsport, TN | $108,804 | $347,750 |