Tech Frederick INC EIN 47-4589774

Tech Frederick INC

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Develops Frederick's tech community through education, training, and events. For fiscal year 2024 it reported $342K in revenue, $402K in expenses, and $88K in net assets.Pt I

Type
Public charity (501(c)(3)) · Employment
Location
Monrovia, MD
Website
www.techfrederick.org
Filings
5 on file (2020–2024)
Revenue
$342KFY2024
Expenses
$402K
Net assets
$88K
People
8
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-4589774 Public charity (501(c)(3)) Monrovia, MD
Form 990 (PDF)
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Size
$100K–1M
What they do
Develops Frederick's tech community through education, training, and events.
Leadership
Meghan Sweigart · Executive Director · $88K
Money in and out
$342K revenue, $402K expenses
Bottom line
70% program efficiency
Where the money goes · FY2024
Total revenue
$342K
Pt VIII · Ln 12
Total expenses
$402K
Pt IX · Ln 25
Net assets
$88K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$60K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.19 Fundraising $0.11
Program efficiency
70%
of spending reaches programs▼ -12% vs prior filing year
Operating runway
2.8mo
months of highly liquid reserves at operating expense rate▼ -38% vs prior filing year
Surplus margin
-18%
revenue over expenses, this year▼ -455% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$342K
FY2024▼ -19%
Expenses
$402K
FY2024+0.2%
Total assets
$95K
FY2024▼ -36%
Total liabilities
$7K
FY2024▲ +727%
Total revenue
$342K
Pt VIII · Ln 12
Total expenses
$402K
Pt IX · Ln 25
Net assets
$88K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$60K
Total assetsPt X · Ln 16$95K
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $281K of program spending, described in the organization's own filed words · FY2024.
01

Aspire training is free (or for a nominal fee) to the frederick county tech community, as well as those who aspire to join it by adding tech skills to their resumes, and is designed to enhance workforce skills through on-line or in-person classes. Approximately 247 people benefitted from aspire training.

$215Kprogram expense
02

Techfrederick games is an annual event designed to provide an opportunity for local tech businesses to connect and have fun, while raising awareness of techfrederick and the participating companies. Approximately 188 people participated.

$49Kprogram expense
03

Techfrederick offers various networking events that focus on connecting local industry professionals with other business leaders. Our events include sales and marketing speaker sessions, roundtable events, and quarterly networking breakfasts.

$18Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CTech Frederick INC
EINHdr · item D47-4589774
Principal addressHdr · item CMonrovia, MD
WebsiteHdr · item Jwww.techfrederick.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEmployment (J22)
Ruling yearIRS BMFDec 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$87,986Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Meghan Sweigart’s $88K as Executive Director is at the 77th percentile of top reported officer pay among 1212 $100K–1M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Meghan Sweigart$87,986$63,994
Amy Pontius$44,600$27,000$27,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$248K · 73%
Program service revenue$94K · 27%
Contributions & grants73%$248K
Program service revenue27%$94K
Investment income$12
— government grantsLn 1e$199K
Total revenueLn 12$342K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.19 Fundraising $0.11
Program services70%$283K
Management & general19%$76K
Fundraising11%$44K
Total functional expensesLn 25$402K

Balance Sheet

Part X · end of year
CashLn 1$95K
Total assetsLn 16$95K
Total liabilitiesLn 26$7K
Total net assetsLn 32$88K
Months of cash on handcomputed2.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $95K · Operating expenses/yr $402K
2.8 months
Where the money goes
Program services
Program services $283K · Total expenses $402K
70%
Management & General
Management & general $76K · Total expenses $402K
19%
Fundraising
Fundraising $44K · Total expenses $402K
11%
Cost to raise $1
Fundraising expense (3-yr avg) $24K · Solicited contributions (3-yr avg) $49K
$0.50 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $248K · Total revenue $342K
73%
Government reliance
Government grants $199K · Total revenue $342K
58%
Earned-income share
Program service revenue $94K · Total revenue $342K
27%
Investment reliance
Investment income $12 · Total revenue $342K
<0.01%
Program self-sufficiency
Program service revenue $94K · Total expenses $402K
23%
Growth & trend
Revenue growth (YoY)
This year $342K · Prior year $423K
-19%
Revenue CAGR
FY2020 $359K · FY2024 $342K
-1%
Net-asset trend (YoY)
End of year $88K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $342K · Expenses $402K
-18%
Liabilities-to-Assets
Total liabilities — · Total assets $95K
Net-asset ratio
Net assets $88K · Total assets $95K
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $95K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Meghan Sweigart · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $88K · Total expenses $402K
22%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $197K · Total expenses $402K
49%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 19%
Fundraising cost ratio 18%
Revenue growth -19%
Accounting fee ratio 0.8%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$342K revenue · viewing · ⤓ 990 PDF
FY2023$423K revenue · ⤓ 990 PDF
FY2022$363K revenue · ⤓ 990 PDF
FY2021$190K revenue · ⤓ 990 PDF
FY2020$359K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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