Institute For Responsible Technology
- Assets
- $705.2k
- Revenue
- $382.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Fairfield, IA
- Founding
- 01/2012
- Data as of
- 12/2021
- EIN
- 90-0607450
Organization Overview
Institute For Responsible Technology is located in Fairfield, IA. The organization was established in 2012. According to its NTEE Classification (U01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Institute For Responsible Technology employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Responsible Technology 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 12/2021, Institute For Responsible Technology generated $382.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $665.9k during the year ending 12/2021. While expenses have increased by 6.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION AND PUBLIC AWARENESS REGARDING PUBLIC HEALTH ISSUES IN FOOD PRODUCTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPLEMENTED EDUCATION AND PUBLIC AWARENESS REGARDING PUBLIC HEALTH ISSUES IN FOOD PRODUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey M Smith President | OfficerTrustee | 20 | $114,577 |
James Turner Vice President | OfficerTrustee | 1 | $0 |
James Davis Director | Trustee | 1 | $0 |
Ted Nordquist Director | Trustee | 1 | $0 |
Ciyde Cleveland Secretary | Trustee | 1 | $0 |
Margaret Christensen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $379,420 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $379,420 |
| Total Program Service Revenue | $0 |
| 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 | $382,637 |
| 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. | $114,577 |
| Compensation of current officers, directors, key employees. | $17,186 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,508 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,252 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $371,867 |
| Advertising and promotion | $10,268 |
| Office expenses | $1,766 |
| Information technology | $23,344 |
| Royalties | $0 |
| Occupancy | $18,082 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $146 |
| Insurance | $2,813 |
| All other expenses | $840 |
| Total functional expenses | $665,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $697,327 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,355 |
| 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 | $5,470 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $705,152 |
| Accounts payable and accrued expenses | $9,324 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $736,935 |
| Other liabilities | $2,835 |
| Total liabilities | $749,094 |
| Net assets without donor restrictions | -$43,942 |
| 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 | $705,152 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Institute For Responsible Technology has recieved totaling $26,698.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: ENHANCING THE ENVIRONMENT | $10,000 |
Wrather Family Foundation Sherman Oaks, CA PURPOSE: CHARITABLE | $5,000 |
Gerry-Corbett Foundation Tampa, FL PURPOSE: CHARITABLE | $3,000 |
Hawley Family Foundation Golden, CO PURPOSE: SUPPORT INSTITUTE'S CAMPAIGN TO EDUCATE CONSUMERS | $3,000 |
Rona And Jeffrey Abramson Foundation Rockville, MD PURPOSE: UNRESTRICTED FUNDS | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $2,282 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute For Responsible Technology Fairfield, IA | $705,152 | $382,637 |
American Ai Forum Chicago, IL | $280,315 | $759,279 |
Northern Illinois Bldg Contractors Construction Ind Advancement Fund Rockford, IL | $1,337,263 | $562,062 |
Will Grundy Construction Industry Advancement Trust Joliet, IL | $515,492 | $512,953 |
Blockchain Institute Chicago, IL | $110,343 | $249,973 |
Chicago Council On Science Andtechnology Chicago, IL | $95,252 | $292,057 |
Quad-City Construction Industry Advancement Trust Rock Island, IL | $782,933 | $317,804 |
Neb Academy Of Sciences Inc Lincoln, NE | $1,414,442 | $152,120 |
Missouri Construction Industry Advancement Fund Jefferson City, MO | $0 | $0 |
North American Plant Phenotyping Network Saint Louis, MO | $9,415 | $0 |