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Tech Frederick INC FY2023 filing

Tax-deductible

Monrovia, MD501(c)(3)Since 2016Employment EIN 47-4589774Revenue $423K in FY2023

On file with the IRStechfrederick.orgPo Box 279, 21770-0279 · Monrovia, MDTax-exempt since Dec 2016Publicly supported charity — 170(b)(1)(A)(vi)

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We are dedicated to uniting technology enthusiasts, professionals, and organizations through education and a supportive community. We aim to foster a diverse and inclusive environment, ensuring everyone has an opportunity to succeed in the Tech and innovation sectors and contribute to our vibrant ecosystem.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$64K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $5K a year · 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$64K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$900
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$423K
+16% vs prior year
Spent
$402K
To programs
80%
Net assets
$148K
By yearFY2020–FY2025
Revenue
$423K
FY2023▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$359K
FY2021$190K
FY2022$363K
FY2023$423K
FY2024$342K
FY2025$494K
Expenses
$402K
FY2023▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$344K
FY2021$198K
FY2022$327K
FY2023$402K
FY2024$402K
FY2025$466K
Net assets
$148K
FY2023▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$99K
FY2021$91K
FY2022$127K
FY2023$148K
FY2024$88K
FY2025$123K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2016.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $320K Management & general 13% · $53K Fundraising 7% · $29K

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

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Who runs it and what they're paid

6 people listed on the 990; $64K paid to officers and key staff.

Part VII, Section A · reportable compensation
Meghan Sweigart
Executive Director
$63,994Pt VII · Sec A
Josh Yeager
President
$0Pt VII · Sec A
Jeff Pontius
Treasurer
$0Pt VII · Sec A
Mike Battle
Board Member
$0Pt VII · Sec A
Jon-Mikel Bailey
Board Member
$0Pt VII · Sec A
Maria Roat
Board Member
$0Pt VII · Sec A

Meghan Sweigart’s $91K as Executive Director is at the 78th percentile of top reported officer pay among 1216 $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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Meghan Sweigart$90,848$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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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 15aYes

Programs and updates

Develops Frederick's tech community through education, training, and events.

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Provided by the organization

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3 programs · $300K · in their own filed words · FY2023
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 203 people benefitted from aspire training.

$253Kprogram 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 149 people participated.

$29Kprogram 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

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$423K
Ln 12
Gifts and grantsLn 1h$352K
Fees for servicesLn 2g$63K
Other incomeLn 4–11$7K
Money outPt IX
$402K
Ln 25
Programscol B$320K
Managementcol C$53K
Fundraisingcol D$29K
Owns and owesPt X
$148K
net assets · Ln 32
Cash and savingsLn 1–2$149K
Total assetsLn 16$149K
LiabilitiesLn 26$900
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$352K
Government grantsLn 1e$302K
Fundraising eventsLn 1c$2K
Fees for servicesLn 2g$63K
Other incomeLn 4–11$7K
Total revenueLn 12$423K
Assets in detailPt X, end of year
CashLn 1$149K
Cash and savings togetherLn 1–2$149K
Total assetsLn 16$149K
LiabilitiesLn 26$900
Net assetsLn 32$148K
OperationsPt I, VI
EmployeesI 52
VolunteersI 675
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$127K$149K
Total assetsLn 16$127K$149K
LiabilitiesLn 26$60$900
Net assetsLn 32$127K$148K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$300$300
Pay of current officers, directors and key staffLn 5$80K$16K$40K$24K
Pay of disqualified personsLn 6$48K$48K
Payroll taxesLn 10$9K$5K$3K$2K
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$221K$219K$364$2K
Advertising and promotionLn 12$1K$696$737
Office expensesLn 13$958$958
Information technologyLn 14$4K$4K$212
TravelLn 17$323$323
Conferences, conventions and meetingsLn 19$484$484
InsuranceLn 23$2K$1K$471
Other expenses (24a–d)Ln 24$30K$30K
Total functional expensesLn 25$402K$320K$53K$29K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $494K$466K$28K$123K 990 PDF
FY2024 $342K$402K−$60K$88K 990 PDF
FY2023 Viewing $423K$402K$21K$148K 990 PDF
FY2022 $363K$327K$37K$127K 990 PDF
FY2021 $190K$198K−$8K$91K 990 PDF
FY2020 $359K$344K$15K$99K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $422,762 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $315,114$352,372
I-9 Program service revenuePrior year $48,317$63,223
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$7,167
I-12 Total revenuePrior year $363,431$422,762
I-13 Grants and similar amounts paidPrior year $1,000$300
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $44,600$137,450
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $281,291$263,973
I-18 Total expensesPrior year $326,891$401,723
I-19 Revenue less expensesPrior year $36,540$21,039
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $422,762 across 8 lines filed
Lines not itemized here account for $7,108 of total revenue; see the IRS return.
VIII-1b Membership dues$19,350
VIII-1c Fundraising events$2,225
VIII-1e Government grants$301,696
VIII-1f All other contributions, gifts and grants$29,101
VIII-1h Total contributions, gifts and grants$352,372
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $56,115$56,115
VIII-8 Net income from fundraising eventsExcluded from tax $7,167$7,167
VIII-12 Total revenueRelated to mission $63,223 · Unrelated business $0 · Excluded from tax $7,167$422,762
Part IX · Statement of functional expenses $401,723 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $300$300
IX-5 Pay of current officers, directors and key staffPrograms $15,977 · Management $39,942 · Fundraising $23,965$79,884
IX-6 Pay of disqualified personsPrograms $48,485$48,485
IX-10 Payroll taxesPrograms $4,974 · Management $2,567 · Fundraising $1,540$9,081
IX-11c Accounting feesManagement $3,196$3,196
IX-11g Other fees for servicesPrograms $218,699 · Management $364 · Fundraising $2,425$221,488
IX-12 Advertising and promotionPrograms $696 · Fundraising $737$1,433
IX-13 Office expensesManagement $958$958
IX-14 Information technologyManagement $4,196 · Fundraising $212$4,408
IX-17 TravelManagement $323$323
IX-19 Conferences, conventions and meetingsManagement $484$484
IX-23 InsurancePrograms $1,098 · Management $471$1,569
IX-24 Other expenses (24a–d)Programs $30,114$30,114
IX-25 Total functional expensesPrograms $320,343 · Management $52,501 · Fundraising $28,879$401,723
Part X · Balance sheet $149,009 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $127,130$149,009
X-16 Total assetsStart of year $127,130$149,009
X-17 Accounts payable and accrued expensesStart of year $60$900
X-26 Total liabilitiesStart of year $60$900
X-27 Net assets without donor restrictionsStart of year $127,070$148,109
X-32 Total net assets or fund balancesStart of year $127,070$148,109
X-33 Total liabilities and net assetsStart of year $127,130$149,009
Part XI · Reconciliation of net assets $148,109 net assets at year end
XI-1 Total revenue$422,762
XI-2 Total expenses$401,723
XI-3 Revenue less expenses$21,039
XI-4 Net assets at start of year$127,070
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$148,109

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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