Smart City Works Inc
- Assets
- $158.4k
- Revenue
- $528.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Arlington, VA
- Founding
- 11/2018
- Data as of
- 12/2023
- EIN
- 82-0941868
Organization Overview
Smart City Works Inc is located in Arlington, VA. The organization was established in 2018. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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. Smart City Works 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 12/2023, Smart City Works Inc generated $528.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 29.9% each year . All expenses for the organization totaled $513.5k during the year ending 12/2023. While expenses have increased by 32.3% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SMART CITY WORKS IS A NON-PROFIT THAT EMPOWERS COMMUNITIES TO SOLVE URBAN CHALLENGES AND IMPROVE ECONOMIC GROWTH, THROUGH TECHNOLOGY INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTHERN VIRGINIA SMART REGION INITIATIVE IS A THREE-YEAR INITIATIVE TO HELP FOSTER NOVA AS A WORLD-RENOWNED CENTER OF EXCELLENCE FOR URBAN TECHNOLOGY INNOVATION, AND DESTINATION FOR DIGITAL TECHNOLOGY COMPANIES TO BUILD AND GROW THEIR BUSINESSES. THE INITIATIVE IS LED BY SMART CITY WORKS AND THROUGH A PUBLIC-PRIVATE PARTNERSHIP WITH UNIVERSITIES, PRIVATE SECTOR, AND GOVERNMENT, WE AIM TO FILL A MUCH-NEEDED GAP SUPPORTING TECHNOLOGY START-UPS AND SMES IN NORTHERN VIRGINIA, ACCELERATING THEIR GROWTH, AND CREATING COMMERCIALIZATION PATHWAYS TO SPUR SUSTAINED REGIONAL ECONOMIC GROWTH. AS COMPANIES GROW, THE REGION CREATES JOBS, ATTRACTS NEW TALENT, CATALYZES INNOVATION, AND HELPS ADVANCE NOVA AS A MAGNET REGION FOR DIGITAL INNOVATION, JOB OPPORTUNITIES, AND CUTTING-EDGE URBAN TECHNOLOGIES. CURRENT PROGRAM OFFERINGS INCLUDE: 1) SOURCING NEW AND EMERGING TECHNOLOGIES TO SOLVE KEY URBAN CHALLENGES; 2) FOSTERING GROWTH AND EDUCATION OF TECH STARTUPS THROUGH MENTORING AND BUSINESS ACCELERATION PROGRAMS; 3) DEVELOPING AND RUNNING REGIONAL TEST BEDS AND LIVING LABORATORIES TO SUPPORT VALIDATION PILOT PROJECTS; 4) DESIGNING AND RUNNING INNOVATION CHALLENGE PROGRAMS FOCUSED ON IDENTIFYING, SOURCING, AND SELECTING NEW AND EMERGING TECHNOLOGIES TO SOLVE OR OTHERWISE SUPPORT LOCAL GOVERNMENT OR COMMUNITY GOALS; AND 5) PROMOTE AND SUSTAIN INNOVATION, ENTREPRENEURSHIP, COMMERCIALIZATION, AND ECONOMIC DEVELOPMENT THROUGH THOUGHT LEADERSHIP, NETWORKING, AND OTHER EDUCATIONAL EVENTS THAT FOSTER OF A REGIONAL INNOVATION CLUSTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Heyman Chairperson | OfficerTrustee | 4 | $0 |
Greg Sauter Vice Chairperson | OfficerTrustee | 4 | $0 |
Sol Glasner Board Member | Trustee | 2 | $0 |
Anne Khademian Board Member | Trustee | 2 | $0 |
Avi Halpert Board Member | Trustee | 2 | $0 |
Nicole Levine Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $83,906 |
| All other contributions, gifts, grants, and similar amounts not included above | $439,396 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $523,302 |
| Total Program Service Revenue | $4,684 |
| 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 | $527,986 |
| 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. | $184,876 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $280,020 |
| Advertising and promotion | $0 |
| Office expenses | $4,412 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,717 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,401 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,940 |
| All other expenses | $0 |
| Total functional expenses | $513,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,819 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $104,183 |
| Accounts receivable, net | $7,027 |
| 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 | $996 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $390 |
| Total assets | $158,415 |
| Accounts payable and accrued expenses | $18,834 |
| Grants payable | $0 |
| Deferred revenue | $52,648 |
| 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 | $71,482 |
| Net assets without donor restrictions | $86,933 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $158,415 |