Technology Council Of Maryland Foundation Inc
- Assets
- $274.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Frederick, MD
- Founding
- 01/1989
- Data as of
- 06/2022
- EIN
- 52-1480346
Organization Overview
Technology Council Of Maryland Foundation Inc is located in Frederick, MD. The organization was established in 1989. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Technology Council Of Maryland Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
VENTURE MENTORING SERVICE: THE PROGRAM IS BASED ON A TEAM MENTORING APPROACH AS ONE OF THE 70 COMMUNITIES AROUND THE GLOBE THAT IS PART OF THE HIGHLY-SUCCESSFUL MIT VENTURE MENTORING SERVICE. THE RESULTS HAVE BEEN STUNNING IN TERMS OF CAPITAL RAISED, JOB GROWTH AND COMPANY SURVIVAL. MENTORS AND MENTEE COMPANIES PARTICIPATE BY INVITATION, AND THERE IS NO FEE TO THE MENTEE COMPANY FOR THE MENTORING PROGRAM. THE ULTIMATE GOAL OF THE PROGRAM IS TO BRING EMPLOYMENT OPPORTUNITIES AND CAPITAL TO THE AREA IN THE TECHNOLOGY AND LIFE SCIENCES FIELDS BY HELPING COMPANIES TO GROW FASTER. THE VMS PROGRAM PROVIDES MENTORING SERVICES TO MARYLAND BASED TECH AND LIFE SCIENCES COMPANIES. WE INVOLVE HIGHLY QUALIFIED VOLUNTEER MENTORS WHO ARE COMMITTED TO PROVIDING VALUABLE ADVICE IN A TEAM SETTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Rosendale Chair | 0.5 | $0 | |
Brad Stewart Director | 0.5 | $0 | |
David Tohn Director | 0.5 | $0 | |
Karen Shoos Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $155,200 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $155,200 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $53,100 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $49,175 |
| Total expenses | $142,275 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $274,379 |
| Other assets | $0 |
| Total assets | $274,379 |
| Total liabilities | $149,073 |
| Net assets or fund balances | $125,306 |