Technology Innovation Center Inc is located in Winnetka, IL. The organization was established in 1992. 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 12/2018, Technology Innovation Center Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Technology Innovation Center 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 12/2018, Technology Innovation Center Inc generated $95.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (25.6%) each year. All expenses for the organization totaled $237.1k during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
STARTUP SERVICES WITH SUPPORTIVE NEEDS VIA OFFICE SPACE AND PERSONNEL WITH THE NEEDED OPERATING EQUIPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
START UP SERVICES WITH SUPPORTIVE NEED VIA OFFICE SPACE AND PERSONNEL WITH THE NEEDED OPERATING EQUIPMENT
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tim Lavengood Former | 40 | $35,415 | |
John Lockerby Director | Trustee | 1 | $0 |
Jim Kouris Director | Trustee | 1 | $0 |
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 | $95,405 |
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 | $95,405 |
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. | $35,415 |
Compensation of current officers, directors, key employees. | $5,312 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $71,659 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $34,391 |
Payroll taxes | $8,415 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,401 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $10,378 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $5,176 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $61,177 |
Travel | $1,574 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $481 |
Interest | $1,334 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $644 |
All other expenses | $0 |
Total functional expenses | $237,108 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,238 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
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 | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,622 |
Total assets | $9,860 |
Accounts payable and accrued expenses | $0 |
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 | $30,216 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,751 |
Total liabilities | $31,967 |
Unrestricted restricted net Assets | -$22,107 |
Temporarily restricted net Assets | $0 |
Permanently restricted net Assets or current funds | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total net assets or fund balances | -$22,107 |
Over the last fiscal year, we have identified 1 grants that Technology Innovation Center Inc has recieved totaling $200,000.
Awarding Organization | Amount |
---|---|
The Chicago Community Trust Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $200,000 |
Organization Name | Assets | Revenue |
---|---|---|
Womens Business Development Center Chicago, IL | $6,715,757 | $38,492,133 |
Wisconsin Womens Business Initiative Corporation Milwaukee, WI | $42,014,379 | $10,583,804 |
Allies For Community Business Inc Chicago, IL | $54,726,016 | $12,452,578 |
Small Business Aid Inc Shipshewana, IN | $1,429,380 | $3,351,237 |
Bunker Labs Nfp Inc Chicago, IL | $3,938,287 | $4,312,612 |
Technology Entrepreneur Center Inc St Louis, MO | $14,793,185 | $1,740,629 |
Bioconnect Iowa Des Moines, IA | $1,127,931 | $1,803,790 |
Premier Capital Corporation Indianapolis, IN | $2,695,127 | $1,528,792 |
Startingblock Madison Inc Madison, WI | $3,788,993 | $962,585 |
South Central Ozark Council Of Governments Pomona, MO | $2,561,241 | $1,014,983 |
Growth Alliance For Greater Evansville Inc Evansville, IN | $3,067,417 | $736,027 |
Regional Development Company Valparaiso, IN | $1,015,697 | $931,106 |