16 Tech Community Corporation
- Assets
- $90.4m
- Revenue
- $43.8m
- Investments
- $0.0
- Employees
- 10
- Location
- Indianapolis, IN
- Founding
- 01/2016
- Data as of
- 12/2021
- EIN
- 81-0853467
Organization Overview
16 Tech Community Corporation is located in Indianapolis, IN. The organization was established in 2016. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, 16 Tech Community Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 16 Tech Community Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, 16 Tech Community Corporation has awarded 38 individual grants totaling $9,814,980. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
16 TECH COMMUNITY CORPORATION (16 TECH CC) IS DEDICATED TO THE CREATION OF THE 16 TECH INNOVATION DISTRICT, A GEOGRAPHIC AREA DELIVERING A NEW APPROACH TO FOSTERING ECONOMIC GROWTH AND INNOVATION IN INDIANAPOLIS. 16 TECH CC IS CATALYZING THIS NEW FORM OF INNOVATION THROUGH A "PLACE-MAKING" STRATEGY, CREATING A ZONE OF ECONOMIC ACTIVITY DESIGNED WITH THE SPECIFIC PURPOSE OF ENGENDERING COLLABORATION AND INNOVATION AMONG INDIANA'S ADVANCED INDUSTRIES - LIFE SCIENCES, ADVANCED MANUFACTURING, AND TECH IN ALL ITS FORMS - AND LEADING ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
16 TECH COMMUNITY CORPORATION WAS FORMED IN SEPTEMBER 2015 TO DELIVER A NEW APPROACH TO ECONOMIC GROWTH AND INNOVATION IN INDIANAPOLIS. THE NONPROFIT IS RESPONSIBLE FOR CATALYZING THE PROGRAMMATIC AND PHYSICAL DEVELOPMENT OF 16 TECH INNOVATION DISTRICT. OPENING ITS FIRST BUILDING IN 2020, 16 TECH INNOVATION DISTRICT IS A 50-ACRE COMMUNITY DESIGNED TO FACILITATE COLLABORATION AND INNOVATION AMONG INDIANA'S ADVANCED INDUSTRIES (LIFE SCIENCES, ADVANCED MANUFACTURING AND TECHNOLOGY) AND LEADING ENTREPRENEURS. THE CONVERGENCE OF THESE INDUSTRIES, ALONG WITH UNIVERSITY RESOURCES, RESEARCH FACILITIES, AND ADDITIONAL AMENITIES AND QUALITY-OF-LIFE SERVICES, SUPPORTS THE ECONOMIC GROWTH OF INDIANAPOLIS. 2021 MARKED THE START OF A TRULY VIBRANT, GROWING COMMUNITY OF ENTREPRENEURS, CAPITAL PROVIDERS, MAKERS, AND COMPANIES IN THE LIFE SCIENCES, ADVANCED MANUFACTURING, TECHNOLOGY INDUSTRIES FOR THE 16 TECH INNOVATION DISTRICT. THE INCREASE IN ACTIVITY WAS BROUGHT ABOUT BY THE OPENING OF THE HQO INNOVATION HUB, OWNED AND OPERATED BY 16 TECH, WITH FLEXIBLE OFFICE SPACE, A MAKERSPACE AND AN ARTISAN MARKETPLACE WITH MORE THAN 20 DIFFERENT FOOD VENDORS. CONSTRUCTION PROGRESS IN THE DISTRICT WAS ALSO VERY VISIBLE AS THE 650-CAR PARKING GARAGE TOOK SHAPE IN ADDITION TO BREEDLOVE LANE, NAMED AFTER MADAM CJ WALKER. SIGNIFICANT PROGRESS WAS ALSO MADE ON THE NEXT ROUND OF INFRASTRUCTURE AND PUBLIC SPACE PROJECTS AND 16 TECH WAS EXCITED TO ANNOUNCE THE DESIGN FOR THE NEW BRIDGE TO CROSS FALL CREEK. THE BRIDGE WILL PROVIDE ADDITIONAL ACCESS, CONNECTING THE INNOVATION DISTRICT TO THE MEDICAL AND RESEARCH CORRIDOR TO THE SOUTH. 16 TECH WAS FORMED WITH THE INTENTION: (A) TO FOSTER AND ENHANCE ECONOMIC DEVELOPMENT; TALENT ATTRACTION, DEVELOPMENT AND RETENTION; AND ENTREPRENEURIAL GROWTH IN THE CITY OF INDIANAPOLIS (THE CITY);(B) TO PROMOTE, ENCOURAGE AND ASSIST IN THE DEVELOPMENT OF A KNOWLEDGE COMMUNITY THAT WILL ATTRACT AND RETAIN NEW EMPLOYERS AND RELATED JOBS TO THE CITY;(C) TO FOSTER AND SUPPORT SCIENTIFIC RESEARCH AND RELATED TECHNOLOGY TRANSFER;(D) TO SERVE AS A MULTI-DISCIPLINARY HUB FOR THE COMMUNITY, EMPLOYERS AND THE INDIVIDUALS THAT LIVE AND WORK WITHIN THE DISTRICT;(E) TO PROMOTE, FURTHER AND SUPPORT THE EFFORTS OF THE SUPPORTED ORGANIZATIONS (AS DEFINED BELOW) IN THEIR STRATEGIC AND COORDINATED EFFORTS TO CREATE A DOWNTOWN TECHNOLOGY DISTRICT THAT WILL REVITALIZE THE SURROUNDING COMMUNITY, AND WILL ATTRACT EMPLOYERS, INCLUDING BUT NOT LIMITED TO LIFE SCIENCE, INFORMATION TECHNOLOGY AND OTHER TECHNOLOGY-INTENSIVE COMPANIES, AND INCREASE THE VISIBILITY AND LEADERSHIP OF THE CITY NATIONALLY AND ABROAD; AND(F) TO CREATE, FURTHER OR SUPPORT EDUCATIONAL AND WORKFORCE PROGRAMS AND TALENT PATHWAYS THAT STRENGTHEN THE INNOVATION DISTRICT AND SURROUNDING COMMUNITIES ON THE WEST SIDE OF INDIANAPOLIS. 16 TECH COMMUNITY CORPORATION'S ACTIVITIES FOCUS ON OPERATIONS, PUBLIC INFRASTRUCTURE DEVELOPMENT, PROGRAMMING, AND COMMUNITY ENGAGEMENT AND INVESTMENT. A) 16 TECH OPERATING ACTIVITIES - 16 TECH RECEIVES FUNDING FROM PHILANTHROPIC ORGANIZATIONS AND INDIVIDUALS TO SUPPORT THE ORGANIZATION'S OPERATING EXPENSES AND PROGRAMMATIC ACTIVITIES.B) PUBLIC INFRASTRUCTURE DEVELOPMENT ACTIVITIES - 16 TECH CONTINUES THE INFRASTRUCTURE PHASE NECESSARY IN BUILDING AN INNOVATION DISTRICT AND ATTRACTING PRIVATE DEVELOPMENT. IN 2021, PROGRESS WAS MADE ON ADDITIONAL ROADS, UTILITIES AND SANITARY INFRASTRUCTURE..C) COMMUNITY ENGAGEMENT AND INVESTMENT - THE CITY OF INDIANAPOLIS PROVIDED SEED FUNDING FOR THE COMMUNITY INVESTMENT FUND (CIF). SINCE 2020, 16 TECH COMMUNITY CORPORATION HAS AWARDED $1.3 MILLION IN GRANTS TO RESIDENT-ENDORSED PROJECTS IN THE NEIGHBORHOODS SURROUNDING 16 TECH INNOVATION DISTRICT. THE GRANTS, AWARDED TO 40 ORGANIZATIONS, ARE DESIGNED TO ENHANCE QUALITY-OF-LIFE EFFORTS AND SUPPORT PROJECTS IN INFRASTRUCTURE/BEAUTIFICATION, WORKFORCE TRAINING, BUSINESS SUPPORT, EDUCATION AND NEIGHBORHOOD CAPACITY BUILDING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert W Coy Jr President And CEO | OfficerTrustee | 40 | $401,518 |
Emily Krueger Cheif Operating Officer | Officer | 40 | $212,733 |
Robert Herzog Cheif Financial Officer | Officer | 40 | $206,419 |
Eric Miller Director Of Business Developement | 40 | $158,808 | |
David Lawther Johnson Chair | OfficerTrustee | 1 | $0 |
Tory Castor Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aes Indiana Infrastructure Developement Services | 12/30/21 | $2,031,523 |
Fa Wilhelm Construction Construction Services | 12/30/21 | $13,020,586 |
American Structurepoint Inc Construction Management | 12/30/21 | $1,693,168 |
Schlaich Bergermann And Partner Lp Construction Services | 12/30/21 | $1,265,938 |
Browning Davis Building Indy Innovation Construction Services | 12/30/21 | $3,042,080 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $200,000 |
| Government grants | $1,293,013 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,644,252 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,137,265 |
| Total Program Service Revenue | $23,170,454 |
| Investment income | $89,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,534 |
| Net Gain/Loss on Asset Sales | $403,054 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,820,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,723,675 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,671,611 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $312,456 |
| Payroll taxes | $93,045 |
| Fees for services: Management | $184,713 |
| Fees for services: Legal | $253,300 |
| Fees for services: Accounting | $32,200 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $316,513 |
| Office expenses | $726,178 |
| Information technology | $42,347 |
| Royalties | $0 |
| Occupancy | $976,637 |
| Travel | $9,793 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $142,729 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $719,128 |
| Insurance | $115,010 |
| All other expenses | $0 |
| Total functional expenses | $25,202,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,808,990 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,982,219 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,615,998 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $108,440 |
| Net Land, buildings, and equipment | $35,626,868 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,272,356 |
| Total assets | $90,414,871 |
| Accounts payable and accrued expenses | $2,132,922 |
| 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 | $222,678 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,848,340 |
| Total liabilities | $11,203,940 |
| Net assets without donor restrictions | $60,861,088 |
| Net assets with donor restrictions | $18,349,843 |
| 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 | $90,414,871 |
Grants Awarded
Over the last fiscal year, 16 Tech Community Corporation has awarded $2,721,425 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF INDIANAPOLIS PURPOSE: INFRASTRUCTURE CONTRIBUTION | $2,421,425 |
Indianapolis, IN PURPOSE: EXPAND HOMEOWNERSHIP INITIATIVE FOR NEAR NW RESIDENTS THROUGH REHAB-RESALE PROGRAM | $55,000 |
GROUNDWORK INDY PURPOSE: ENGAGE YOUTH IN COMMUNITY-BASED PROJECTS IN NNW, INCORPORATING LIFE SKILLS, JOB TRAINING, AND CERTIFICATION | $50,000 |
Indianapolis, IN PURPOSE: SUPPORT SPRING REBUILD DAY 2022 WITH HOUSING REPAIRS FOR VULNERABLE POPULATIONS | $40,000 |
Indianapolis, IN PURPOSE: COMPLETE INTERACTIVE PROMENADE NODES AND PUBLIC ART PLAN FOR RIVERSIDE PROMENADE | $30,000 |
Indianapolis, IN PURPOSE: GROW INTERNAL STAFF CAPACITY FOR PROGRAM MANAGEMENT | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that 16 Tech Community Corporation has recieved totaling $25,105,000.
| Awarding Organization | Amount |
|---|---|
Lilly Endowment Inc Indianapolis, IN PURPOSE: PHASE I DEVELOPMENT | $18,000,000 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: GENERAL OPERATING SUPPORT | $4,500,000 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: GENERAL OPERATING SUPPORT | $2,550,000 |
Eli Lilly And Company Foundation Indianapolis, IN PURPOSE: MAKE48 COMMUNITY COMPETITION 2021 | $35,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |