Utc Foundation
- Assets
- $10.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 08/2016
- Data as of
- 12/2022
- EIN
- 81-2298626
Organization Overview
Utc Foundation is located in Arlington, VA. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utc Foundation 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 12/2022, Utc Foundation generated $14.1k 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 (20.1%) each year. All expenses for the organization totaled $51.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO SUPPORT THE MISSION OF THE FOUNDATION, A GRANTS PROGRAM FOR COLLEGES AND UNIVERSITIES HAS BEEN CREATED TO PROVIDE DIRECTED EDUCATIONAL PROJECTS IN UTILITY TELECOMMUNICATIONS AND TECHNOLOGY. GRANTS WILL BE GIVEN TO INSTITUTIONS THAT FOSTER A COLLABORATIVE ENVIRONMENT CONNECTING UTILITIES TO ITS FUTURE WORKFORCE THROUGH EDUCATION, RESEARCH AND TRAINING. IN FUTURE YEARS, WE PLAN TO BUILD THIS GRANT PROGRAM BY IDENTIFYING ANNUAL AWARDS TO OTHER WORTHWHILE COLLEGE/UNIVERSITY PROGRAMS IN VARIOUS PART OF THE COUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lamont Hill Chair | 1 | $0 | |
Sheryl Riggs President & CEO | 40 | $0 | |
Kevin Lynch Treasurer | 40 | $0 | |
Teesa Banks Secretary | 40 | $0 | |
Ron Bilodeau Director | 1 | $0 | |
Mitchell Crocker Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,065 |
| 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 | $14,065 |
| 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 | $4,645 |
| Occupancy, rent, utilities, and maintenance | $30,000 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $16,801 |
| Total expenses | $51,446 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $9,458 |
| Other assets | $0 |
| Total assets | $10,938 |
| Total liabilities | $399,561 |
| Net assets or fund balances | -$388,623 |