New York State Technology Enterprise Corporation
- Assets
- $61.0m
- Revenue
- $75.2m
- Investments
- $1.7m
- Employees
- 299
- Location
- Rome, NY
- Founding
- 10/1997
- Data as of
- 09/2022
- EIN
- 16-1521105
Organization Overview
New York State Technology Enterprise Corporation is located in Rome, NY. The organization was established in 1997. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 09/2022, New York State Technology Enterprise Corporation employed 299 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York State Technology Enterprise Corporation 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 09/2022, New York State Technology Enterprise Corporation generated $75.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $65.7m during the year ending 09/2022. While expenses have increased by 17.3% 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.
Since 2018, New York State Technology Enterprise Corporation has awarded 31 individual grants totaling $984,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
NYSTEC IS A NOT-FOR-PROFIT TECHNOLOGY CONSULTING COMPANY, ADVISING ORGANIZATIONS, AGENCIES, INSTITUTIONS, AND BUSINESSES. NYSTEC'S MISSION IS TO PROVIDE SUPERIOR CONSULTING SERVICES TO ASSIST STATE AND GOVERNMENT CLIENTS IN SUCCESSFULLY IDENTIFYING, DEFINING, ACQUIRING AND IMPLEMENTING TECHNOLOGY NEEDS. WE PROVIDE SERVICES THAT LEVERAGE THE TECHNOLOGY BASE IN NEW YORK STATE TO DEFINE, DEVELOP AND ENHANCE HIGH-TECH INNOVATION, KNOWLEDGE, AND CAPABILITIES THROUGHOUT GOVERNMENT AND INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW YORK STATE TECHNOLOGY ENTERPRISE CORPORATION PROVIDES CONSULTING SERVICES THAT LEVERAGE THE TECHNOLOGY BASE IN NEW YORK STATE, INCLUDING AIR FORCE RESEARCH LABORATORY RI DIRECTORATE, TO DEFINE AND DEVELOP NEW HIGH-TECH SOLUTIONS FOR CLIENTS THROUGHOUT GOVERNMENT AND INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Owens CEO & President | OfficerTrustee | 40 | $392,508 |
Nicholas Alger Director Of Operations | Officer | 40 | $316,854 |
Michele Salisbury Cfo, Director Of Contracts, Risk Management And Di | Officer | 40 | $274,922 |
Mark Romano Director Of Business Devel | Officer | 40 | $257,394 |
Michael Walsh CEO & President (retired ) | 40 | $254,658 | |
Richard Green Director Of Service Delive | Officer | 40 | $236,736 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Genesys Consulting Services Technology Consulting | 9/29/22 | $2,537,090 |
Svam Inc Technology Consulting | 9/29/22 | $1,035,805 |
Total Quality Associates Inc Technology Consulting | 9/29/22 | $2,124,227 |
Mvp Consulting Plus Inc Technology Consulting | 9/29/22 | $1,555,072 |
Hiclarity Consulting Inc Technology Consulting | 9/29/22 | $1,296,723 |
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 | $75,185,010 |
| Investment income | $92,138 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$43,529 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,235,119 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $796,856 |
| 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. | $2,802,236 |
| Compensation of current officers, directors, key employees. | $1,637,840 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,864,499 |
| Pension plan accruals and contributions | $2,862,933 |
| Other employee benefits | $2,549,224 |
| Payroll taxes | $2,481,219 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,316 |
| Fees for services: Accounting | $35,645 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,097 |
| Fees for services: Other | $16,644,189 |
| Advertising and promotion | $0 |
| Office expenses | $236,825 |
| Information technology | $127,499 |
| Royalties | $0 |
| Occupancy | $1,262,079 |
| Travel | $554,922 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,369 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $436,127 |
| Insurance | $244,977 |
| All other expenses | $629,731 |
| Total functional expenses | $65,725,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,162,715 |
| Savings and temporary cash investments | $8,990,405 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,592,134 |
| 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 | $1,390,553 |
| Net Land, buildings, and equipment | $3,105,451 |
| Investments—publicly traded securities | $4,941,870 |
| Investments—other securities | $1,693,621 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $104,868 |
| Total assets | $60,981,617 |
| Accounts payable and accrued expenses | $12,814,775 |
| 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 | $12,814,775 |
| Net assets without donor restrictions | $48,166,842 |
| 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 | $60,981,617 |
Grants Awarded
Over the last fiscal year, New York State Technology Enterprise Corporation has awarded $705,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Rome, NY PURPOSE: DONATION FOR NEW SURGICAL CENTER | $300,000 |
Troy, NY PURPOSE: SEMICONDUCTOR COE GRANT | $300,000 |
Utica, NY PURPOSE: DONATION FOR STEM WRITING CENTER & GENERAL PROGRAM SUPPORT | $55,000 |
Rome, NY PURPOSE: 2022 LEADING EDGE AWARDS SPONSORSHIP AND GENERAL OPERATING SUPPORT | $12,500 |
Washington, DC PURPOSE: GENERAL PROGRAM SUPPORT | $10,000 |
Delmar, NY PURPOSE: GENERAL PROGRAM SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Actblue Civics Inc Somerville, MA | $9,393,713 | $97,519,174 |
New York State Technology Enterprise Corporation Rome, NY | $60,981,617 | $75,235,119 |
Hamaskpik Of Rockland County Inc Monsey, NY | $63,578,748 | $60,740,286 |
Comunilife Inc New York, NY | $31,660,998 | $48,925,659 |
Julia Dyckman Andrus Memorial Inc Yonkers, NY | $77,963,384 | $42,844,151 |
Wildwood Programs Inc Latham, NY | $26,961,317 | $41,590,830 |
Dana-Farber Inc Boston, MA | $2,427,985,539 | $197,856,829 |
Green Chimneys Childrens Services Inc Brewster, NY | $40,286,634 | $28,138,217 |
Times Square District Management Association New York, NY | $18,451,564 | $28,017,921 |
Childrens Center For Treatment And Education Bradford, PA | $5,348,327 | $25,705,354 |
52 Broadway Realty Corp New York, NY | $50,887,165 | $15,066,010 |
Peter Becker Community Harleysville, PA | $93,663,279 | $25,907,614 |