Institute For Technology Development Inc
- Assets
- $6.3m
- Revenue
- $293.9k
- Investments
- $5.3m
- Employees
- 0
- Location
- Ridgeland, MS
- Founding
- 05/1985
- Data as of
- 09/2022
- EIN
- 64-0689319
Organization Overview
Institute For Technology Development Inc is located in Ridgeland, MS. The organization was established in 1985. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Technology Development 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 09/2022, Institute For Technology Development Inc generated $293.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $599.5k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashby Foote III President | 0.3 | $0 | |
J Kelley Williams Chairman | 0.3 | $0 | |
Charles Grayson Secretary/treasurer | 0.3 | $0 | |
Bruce Deer Vice President | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $145,960 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $147,977 |
| Capital Gain Net Income | $147,977 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $293,939 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,356 |
| Depreciation | $0 |
| Occupancy | $10,810 |
| Travel, conferences, and meetings | $332 |
| Printing and publications | $2,620 |
| Other expenses | $158,896 |
| Total operating and administrative expenses | $424,913 |
| Contributions, gifts, grants paid | $174,583 |
| Total expenses and disbursements | $599,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,538 |
| Savings and temporary cash investments | $738,668 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,276,859 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Institute For Technology Development Inc has awarded $262,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MS CENTER FOR PUBLIC POLICY PURPOSE: GENERAL OPERATIONS | $236,250 |
THE WELL WRITERS GUILD PURPOSE: GENERAL OPERATIONS | $26,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stephenson Technologies Corporation Baton Rouge, LA | $6,317,141 | $14,464,169 |
Stephenson Stellar Corporation Baton Rouge, LA | $3,925,054 | $6,640,375 |
Louisiana Tech Applied Research Corporation Ruston, LA | $1,959,252 | $1,931,207 |
American Council Of Engineering Compainies Of Tennessee Inc Nashville, TN | $684,466 | $702,178 |
Institute For Technology Development Inc Ridgeland, MS | $6,276,859 | $293,939 |
Business Technology Association Southeast Baton Rouge, LA | $797,169 | $283,032 |
Make Nashville Nashville, TN | $96,665 | $0 |
Society Of American Military Engineers Mobile, AL | $505,455 | $142,685 |
Power Modulator Conference Mobile, AL | $13,355 | $0 |
Maanavta Research Organization Inc London, AR | $121 | $368 |