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Peninsula Technology Incubator

Hampton, VAUnknown exempt organizationEIN 45-5282723

Dedication to nourishing ideas into small business that are prepared to change the world.

77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $991 a year · under 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$126K
-49% vs prior year
Spent
$126K
To programs
77%
Net assets
$0
By yearFY2020–FY2022
Revenue
$126K
FY2022▼ -49%
Revenue by fiscal year
FY2020$265K
FY2021$247K
FY2022$126K
Expenses
$126K
FY2022▼ -50%
Expenses by fiscal year
FY2020$265K
FY2021$251K
FY2022$126K
Net assets
$0
FY2022▲ +100%
Net assets by fiscal year
FY2020$0
FY2021−$3K
FY2022$0

From the FY2022 Form 990 (year ending September 2022) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $97K Management & general 23% · $28K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Douglas O Stanley
Director & President
$0Pt VII · Sec A
Karl L Drews
Director & Secretary to 5/12/22
$0Pt VII · Sec A
$0Pt VII · Sec A
Catherine Hopkins
Director & Secretary from 5/18/22
$0Pt VII · Sec A
$0Pt VII · Sec A
See Peninsula Technology Incubator 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

Nurtures innovative ideas into world-changing small businesses.

Provided by the organization

This section is blank until Peninsula Technology Incubator claims this page.

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2 program services account for $97K of program spending, described in the organization's own filed words · FY2021.
01

Hampton Ida Grant

Pti provides clients with office accommodations, access to laboratories, and business consulting services. Pti assists clients with business plans, marketing development and capitalization.

$95Kprogram expense
02

Pti transferred all remaining assets to its supported organization, national institute of aerospace associates, and dissolved.

$2Kprogram expense

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By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$126K
Ln 12
Gifts and grantsLn 1h$105K
Fees for servicesLn 2g$21K
Investment incomeLn 3$2
Money outPt IX
$126K
Ln 25
Programscol B$97K
Managementcol C$28K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$105K
Government grantsLn 1e$105K
Fees for servicesLn 2g$21K
Investment incomeLn 3$2
Total revenueLn 12$126K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
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
LineStart FY22End FY22
Cash and savingsLn 1–2$20K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$25K$0
LiabilitiesLn 26$29K$0
Net assetsLn 32−$3K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Management feesLn 11a$70K$70K
Accounting feesLn 11c$3K$3K
Office expensesLn 13$2K$2K
Information technologyLn 14$7K$7K
OccupancyLn 16$42K$16K$26K
Conferences, conventions and meetingsLn 19$77$77
Total functional expensesLn 25$126K$97K$28K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $126K$126K$276$0 990 PDF
FY2021 $247K$251K−$3K−$3K 990 PDF
FY2020 $265K$265K$0$0 990 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $125,858 across 5 lines filed
VIII-1e Government grants$105,000
VIII-1h Total contributions, gifts and grants$105,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,856$20,856
VIII-3 Investment incomeExcluded from tax $2$2
VIII-12 Total revenueRelated to mission $20,856 · Unrelated business $0 · Excluded from tax $2$125,858
Part IX · Statement of functional expenses $125,582 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $2,109$2,109
IX-11a Management feesPrograms $69,725$69,725
IX-11c Accounting feesManagement $2,625$2,625
IX-13 Office expensesPrograms $2,051$2,051
IX-14 Information technologyPrograms $7,306$7,306
IX-16 OccupancyPrograms $15,842 · Management $25,847$41,689
IX-19 Conferences, conventions and meetingsPrograms $77$77
IX-25 Total functional expensesPrograms $97,110 · Management $28,472 · Fundraising $0$125,582
Part X · Balance sheet $0 assets, 19 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $19,766$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $5,625$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $25,391$0
X-17 Accounts payable and accrued expensesStart of year $25,307$0
X-19 Deferred revenueStart of year $3,334$0
X-26 Total liabilitiesStart of year $28,641$0
X-27 Net assets without donor restrictionsStart of year −$3,250$0
X-32 Total net assets or fund balancesStart of year −$3,250$0
X-33 Total liabilities and net assetsStart of year $25,391$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$125,858
XI-2 Total expenses$125,582
XI-3 Revenue less expenses$276
XI-4 Net assets at start of year−$3,250
XI-9 Other changes in net assets$2,974
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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