New Century Technology Council Inc
- Assets
- $165.5k
- Revenue
- $477.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Blacksburg, VA
- Founding
- 02/1999
- Data as of
- 12/2020
- EIN
- 54-1897618
Organization Overview
New Century Technology Council Inc, operating under the name Roanoke Blacksburg Techonology Cncl COUNCIL, is located in Blacksburg, VA. The organization was established in 1999. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Roanoke Blacksburg Techonology Cncl COUNCIL employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roanoke Blacksburg Techonology Cncl COUNCIL is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2020, Roanoke Blacksburg Techonology Cncl COUNCIL generated $477.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $470.7k during the year ending 12/2020. While expenses have increased by 1.8% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER A CLIMATE FOR SUSTAINABLE SUCCESS OF TECHNOLOGY BASED BUSINESS IN WESTERN VIRIGNIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL ACCELERATION AND MENTORING PROGRAM(RAMP) PROVIDED TECHNOLOGY AND START UP ADVISING SERVICES TO COMPANIES. THESE COMPANIES GRADUATED FROM RAMP TO BEGIN OPERATIONS WITHING THE LOCAL AREA
ROUNDTABLE- PEER FORUMS PROVIDE A VENUE FOR INFORMATION EXCHANGE AND RELATIONSHIP DEVELOPMENT GEARED TOWARDS STRENGTHENING LOCAL TECHNOLOGY INDUSTRY
TECH NITE- SPRING ANNUAL MEMBERSHIP AWARD BANQUET FOR TECHNOLOGY ACHIEVEMENTS (500+ ATTENDEES) TECHNITE IS A RECOGNITION EVENT WHICH SIGNIFICANTLY RAISES THE AWAREMENSS OF THE TECHNOLOGY BUSINESS IN THE COMMUNITY. THE RESULT OF THIS RECOGNITION IS TO INCREASE INTEREST, INVESTMENT AND EMPLOYMENT WITHIN TECHNOLOGY COMPANIES THAT ARE MEMBERS OF RBTC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Phillips President | OfficerTrustee | 40 | $109,992 |
Doug Juanarena Co-Chair | OfficerTrustee | 2 | $0 |
Greg Feldmann CEO | OfficerTrustee | 2 | $0 |
Kevin Bloomfield Co-Chair | OfficerTrustee | 2 | $0 |
Kathy Claytor Director | OfficerTrustee | 2 | $0 |
Ken Ferris Co-Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $85,827 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $115,742 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $310,101 |
| Total Program Service Revenue | $167,200 |
| 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 | $477,301 |
| 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. | $109,992 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $171,193 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $300 |
| Payroll taxes | $23,632 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,914 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,647 |
| Office expenses | $43,919 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,063 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $470,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,083 |
| Savings and temporary cash investments | $35 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,429 |
| 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 | $0 |
| Total assets | $165,547 |
| Accounts payable and accrued expenses | $6,730 |
| Grants payable | $0 |
| Deferred revenue | $82,875 |
| 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 | $89,605 |
| Net assets without donor restrictions | $0 |
| 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 | $75,942 |
| Total liabilities and net assets/fund balances | $165,547 |
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