Techgrowth Ohio Fund: FY2021 Nonprofit Profile & Form 990 (EIN 26-3412079)

Revenue by fiscal year
FY2020	−$187K
FY2021	$349K
FY2022	$2.2M
FY2023	$3.0M
FY2024	$194K
FY2025	$765K

Expenses by fiscal year
FY2020	$40K
FY2021	$84K
FY2022	$887K
FY2023	$21K
FY2024	$3K
FY2025	$0

Net assets by fiscal year
FY2020	$3.0M
FY2021	$5.1M
FY2022	$4.2M
FY2023	$6.6M
FY2024	$7.6M
FY2025	$10.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $84K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

David Gaume

Trustee

$0Pt VII · Sec A

Hugh Sherman

Trustee

$0Pt VII · Sec A

Joe Shields

Trustee

$0Pt VII · Sec A

Mark Weinberg

Trustee

$0Pt VII · Sec A

Mei Wei

Trustee

$0Pt VII · Sec A

Gregg Oakley

Treasurer

$0Pt VII · Sec A

Lynn Gellermann

President

$0Pt VII · Sec A

P Jane New

Vice-President /Secretary

$0Pt VII · Sec A

See Techgrowth Ohio Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Invests in Ohio tech startups to foster growth and innovation.

Questions for Techgrowth Ohio Fund

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Provided by the organization

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1 program · $84K · in their own filed words · FY2020

01

TECHGROWTH OHIO FUND provides pre-seed capital funds to assist in the promotion of higher paying occupations, including high technology and new-economy careers, in the Southeast Ohio area. These careers will enhance the ability of the Southeast Ohio area to attract new industry and provide useful products and services that support…

$84Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$349K

Ln 12

Gifts and grantsLn 1h$434K

Investment incomeLn 3$69K

Money outPt IX

$84K

Ln 25

Programscol B$84K

Owns and owesPt X

$5.1M

net assets · Ln 32

Cash and savingsLn 1–2$1.2M

Total assetsLn 16$5.1M

LiabilitiesLn 26$0

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$434K

Government grantsLn 1e$218K

Investment incomeLn 3$69K

Gains on assetsLn 7−$154K

Total revenueLn 12$349K

Assets in detailPt X, end of year

CashLn 1$1.2M

Cash and savings togetherLn 1–2$1.2M

InvestmentsLn 11–13$3.6M

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$0

Total assetsLn 16$5.1M

LiabilitiesLn 26$0

Net assetsLn 32$5.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 65

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$362K	$1.2M
InvestmentsLn 11–13	$1.7M	$3.6M
Land, buildings, equipmentLn 10c	$0	$0
Total assetsLn 16	$3.0M	$5.1M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$3.0M	$5.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other fees for servicesLn 11g	$0	$0	$0	$0
Other expenses (24a–d)Ln 24	$84K	$84K
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$84K	$84K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$765K	$0	$765K	$10.4M	990 PDF
FY2024	$194K	$3K	$191K	$7.6M	990 PDF
FY2023	$3.0M	$21K	$3.0M	$6.6M	990 PDF
FY2022	$2.2M	$887K	$1.4M	$4.2M	990 PDF
FY2021 Viewing	$349K	$84K	$264K	$5.1M	990 PDF
FY2020	−$187K	$40K	−$227K	$3.0M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (6 parts)

Part I · Summary $348,504 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $40,406$434,352

I-9 Program service revenue$0

I-10 Investment incomePrior year −$227,138−$85,848

I-11 Other revenue$0

I-12 Total revenuePrior year −$186,732$348,504

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $40,406$84,352

I-18 Total expensesPrior year $40,406$84,352

I-19 Revenue less expensesPrior year −$227,138$264,152

Part VI · Governance 0 of 5 board members independent, 1 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members0

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $348,504 across 6 lines filed

VIII-1d Related organizations$216,227

VIII-1e Government grants$218,125

VIII-1h Total contributions, gifts and grants$434,352

VIII-3 Investment incomeExcluded from tax $68,627$68,627

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$154,475−$154,475

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$85,848$348,504

Part IX · Statement of functional expenses $84,352 across 3 lines filed

IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0

IX-24 Other expenses (24a–d)Programs $84,352$84,352

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $84,352 · Management $0 · Fundraising $0$84,352

Part X · Balance sheet $5,061,886 assets, 11 lines filed

Asset lines not itemized here account for $150,000; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $361,873$1,153,715

X-4 Accounts receivableStart of year $608,024$173,137

X-10c Land, buildings and equipment, netStart of year $0$0

X-13 Program-related investmentsStart of year $1,743,650$3,585,034

X-15 Other assetsStart of year $0$0

X-16 Total assetsStart of year $3,038,547$5,061,886

X-25 Other liabilitiesStart of year $0$0

X-26 Total liabilitiesStart of year $0$0

X-28 Net assets with donor restrictionsStart of year $3,038,547$5,061,886

X-32 Total net assets or fund balancesStart of year $3,038,547$5,061,886

X-33 Total liabilities and net assetsStart of year $3,038,547$5,061,886

Part XI · Reconciliation of net assets $5,061,886 net assets at year end

XI-1 Total revenue$348,504

XI-2 Total expenses$84,352

XI-3 Revenue less expenses$264,152

XI-4 Net assets at start of year$3,038,547

XI-5 Net unrealized gains (losses) on investments$1,759,187

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$5,061,886

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Techgrowth Ohio Fund FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Techgrowth Ohio Fund

By the numbers

Filing history

Schedules filed Part IV