Center For Technology Research And Commercialization
- Assets
- $55.1k
- Revenue
- $416.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Colorado Springs, CO
- Founding
- 11/2015
- Data as of
- 12/2021
- EIN
- 47-5184860
Organization Overview
Center For Technology Research And Commercialization is located in Colorado Springs, CO. The organization was established in 2015. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2021, Center For Technology Research And Commercialization employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Technology Research And Commercialization 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, Center For Technology Research And Commercialization generated $416.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $417.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 6 years. 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
TO PROMOTE AND SUPPORT INNOVATION, RESEARCH, AND THE COMMERCIALIZATION OF NEW AND EMERGING TECHNOLOGIES THROUGH COLLABORATIVE PARTNERSHIPS WITH COMMERCIAL INDUSTRY, ACADEMIA, MILITARY, AND GOVERNMENT RESEARCH ORGANIZATIONS ACROSS MULTIPLE ADVANCED INDUSTRY SECTORS THAT PROVIDE SERVICES AND PRODUCTS IN THE AEROSPRACE, DEFENSE AND HOMELAND SECURITY, TECHNOLOGY AND INFORMATION, ELECTRONICS, CYBER SECURITY, SOFTWARE ENGINEERING AND ADVANCED MANUFACTURING INDUSTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS TAKEN THE INITIAL STEPS TO ORGANIZE AND PROMOTE THE COMMON BUSINESS INTERESTS OF COMPANIES OPERATING IN THE ADVANCED INDUSTRIES IN SOUTHERN COLORADO AND STRENGTHEN SOUTHERN COLORADO, THE CATALYST CAMPUS AND C-TRAC AS A NATIONALLY RECOGNIZED HUB FOR SPACE AND CYBER TECHNOLOGIES AND FOR THE DISCOVERY, EXPLORATION AND TRANSFER OF GOVERNMENT-SUBSIDIZED AND -DEVELOPED TECHNOLOGIES TO THE COMMERCIAL WORLD.IN AUGUST 2016, WE BEGAN WORKING WITH THE AIR FORCES CYBER INNOVATION CENTER, KNOWN AS CYBERWORX, TO DELIVER INNOVATIVE CYBER-ORIENTED SOLUTIONS TO CURRENT AIR FORCE ISSUES AND INITIATIVES. SINCE ITS INCEPTION, C-TRAC HAS SUPPORTED THE CYBERWORX PROGRAM THROUGH THE RECRUITMENT OF INDUSTRY PARTNERS AND LOGISTICS SUPPORT TO NEARLY A DOZEN DESIGN SPRINTS AND PROJECTS ALONGSIDE USAFA CADETS AND ACTIVE DUTY SERVICEMEMBERS. THESE PROJECTS FOCUSED HEAVILY ON USING AND DESIGNING TECHNOLOGY TO DELIVER SOLUTIONS TO WARFIGHTER PROBLEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Payton Director | Trustee | 1 | $19,536 |
Seth Harvey Director | Trustee | 1 | $1,536 |
Sue Spradley Director | Trustee | 1 | $1,536 |
David Buck Director | Trustee | 1 | $1,536 |
Jason Knudson Director | Trustee | 1 | $1,536 |
Tatiana Bailey Director | Trustee | 1 | $1,152 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Govirg Accting, Finance, Hr | 12/30/18 | $103,309 |
Colorado Small Business Development Program Management | 12/30/18 | $154,064 |
Linquest Program Support | 12/30/18 | $110,402 |
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 | $415,613 |
| 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 | $416,014 |
| 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. | $26,834 |
| Compensation of current officers, directors, key employees. | $8,834 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $193,654 |
| Pension plan accruals and contributions | $3,439 |
| Other employee benefits | $12,488 |
| Payroll taxes | $17,726 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,620 |
| 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 | $5,596 |
| Advertising and promotion | $1,072 |
| Office expenses | $34,665 |
| Information technology | $2,400 |
| Royalties | $0 |
| Occupancy | $31,805 |
| Travel | $46,263 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,333 |
| Interest | $896 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $456 |
| Insurance | $916 |
| All other expenses | $72 |
| Total functional expenses | $417,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,729 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $19,129 |
| Accounts receivable, net | $157 |
| 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 | $46 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$130,913 |
| Total assets | $55,148 |
| Accounts payable and accrued expenses | $14,902 |
| Grants payable | $0 |
| Deferred revenue | $71,988 |
| 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 | $51,181 |
| Total liabilities | $138,071 |
| Net assets without donor restrictions | -$82,923 |
| 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 | $55,148 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Interstate Commission For Higher Education Boulder, CO | $21,671,158 | $19,186,814 |
Nata Board Of Certification Inc Omaha, NE | $23,217,793 | $6,438,062 |
Kansas Livestock Foundation Topeka, KS | $863,927 | $1,452,734 |
Alliance For Innovation Inc Evergreen, CO | $120,507 | $774,446 |
Idea Wild Fort Collins, CO | $479,254 | $588,780 |
Center For Technology Research And Commercialization Colorado Springs, CO | $55,148 | $416,014 |
Institute For The Study Of Advanced Development Inc Westminster, CO | $162,341 | $381,000 |
International Society Of Exposure Science Roeland Park, KS | $404,033 | $324,267 |
Tinkermill Longmont, CO | $1,557,821 | $367,926 |
Thrive-Wise Lafayette, CO | $198,014 | $0 |
Hydropower Foundation Inc Littleton, CO | $219,803 | $169,296 |
Nebraska Institute Of Forensic Sciences Inc Lincoln, NE | $8,757 | $253,050 |