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Business Technology Development FY2022 filing

Tax-deductible

Huntsville, AL501(c)(3)Community Development EIN 72-1378435Revenue $234K in FY2022

On file with the IRSbiztech.org515 Sparkman Dr Nw, 35816-3417 · Huntsville, ALTax-exempt since Feb 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Incubator for small Business Development

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $81K a year · 33% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$200K
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$234K
-30% vs prior year
Spent
$371K
To programs
75%
Net assets
$34K
By yearFY2020–FY2024
Revenue
$234K
FY2022▼ -30%
Tap a bar for its year
Revenue by fiscal year
FY2020$402K
FY2021$336K
FY2022$234K
FY2023$157K
FY2024$116K
Expenses
$371K
FY2022▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$361K
FY2021$356K
FY2022$371K
FY2023$349K
FY2024$216K
Net assets
$34K
FY2022▼ -80%
Tap a bar for its year
Net assets by fiscal year
FY2020$190K
FY2021$171K
FY2022$34K
FY2023−$158K
FY2024−$258K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1998.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $278K Management & general 25% · $92K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
Bob Baron
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Business Technology Development 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 15aYes

Programs and updates

Helps new businesses start and grow.

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Provided by the organization

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1 program · $278K · in their own filed words · FY2022
01

Promoting and increasing business opportunities for small businesses in madison county, alabama. Promoting, coordinating, developing and operating a small business incubator.

$278Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$234K
Ln 12
Gifts and grantsLn 1h$114K
Fees for servicesLn 2g$105K
Investment incomeLn 3$29K
Money outPt IX
$371K
Ln 25
Programscol B$278K
Managementcol C$92K
Owns and owesPt X
$34K
net assets · Ln 32
Cash and savingsLn 1–2$169K
Total assetsLn 16$234K
LiabilitiesLn 26$200K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$114K
Government grantsLn 1e$112K
Fees for servicesLn 2g$105K
Investment incomeLn 3$29K
Total revenueLn 12$234K
Assets in detailPt X, end of year
CashLn 1$169K
Cash and savings togetherLn 1–2$169K
InvestmentsLn 11–13$1K
Other assetsLn 15$13K
Total assetsLn 16$234K
LiabilitiesLn 26$200K
Net assetsLn 32$34K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$459K$169K
InvestmentsLn 11–13$1K$1K
Total assetsLn 16$530K$234K
LiabilitiesLn 26$359K$200K
Net assetsLn 32$171K$34K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$62K$47K$16K
Payroll taxesLn 10$5K$4K$1K
Accounting feesLn 11c$2K$806$807
Office expensesLn 13$532$399$133
Information technologyLn 14$4K$970$3K
OccupancyLn 16$224K$171K$53K
InsuranceLn 23$5K$2K$2K
Other expenses (24a–d)Ln 24$68K$52K$16K
Total functional expensesLn 25$371K$278K$92K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $116K$216K−$101K−$258K 990 PDF
FY2023 $157K$349K−$192K−$158K 990 PDF
FY2022 Viewing $234K$371K−$137K$34K 990 PDF
FY2021 $336K$356K−$19K$171K 990 PDF
FY2020 $402K$361K$41K$190K 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 FY2022 990 (6 parts)
Part I · Summary $233,921 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $233,000$114,500
I-9 Program service revenuePrior year $107,448$104,729
I-10 Investment incomePrior year $90$28,744
I-11 Other revenuePrior year −$4,100−$14,052
I-12 Total revenuePrior year $336,438$233,921
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $69,303$67,201
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $286,197$303,319
I-18 Total expensesPrior year $355,500$370,520
I-19 Revenue less expensesPrior year −$19,062−$136,599
Part VI · Governance 11 of 12 board members independent, 3 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $233,921 across 7 lines filed
VIII-1e Government grants$112,500
VIII-1f All other contributions, gifts and grants$2,000
VIII-1h Total contributions, gifts and grants$114,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $104,729$104,729
VIII-3 Investment incomeRelated to mission $28,744$28,744
VIII-8 Net income from fundraising eventsExcluded from tax −$14,052−$14,052
VIII-12 Total revenueRelated to mission $133,473 · Excluded from tax −$14,052$233,921
Part IX · Statement of functional expenses $370,520 across 8 lines filed
IX-7 Other salaries and wagesPrograms $46,741 · Management $15,580$62,321
IX-10 Payroll taxesPrograms $3,660 · Management $1,220$4,880
IX-11c Accounting feesPrograms $806 · Management $807$1,613
IX-13 Office expensesPrograms $399 · Management $133$532
IX-14 Information technologyPrograms $970 · Management $2,909$3,879
IX-16 OccupancyPrograms $171,234 · Management $53,229$224,463
IX-23 InsurancePrograms $2,284 · Management $2,285$4,569
IX-24 Other expenses (24a–d)Programs $52,396 · Management $15,867$68,263
IX-25 Total functional expensesPrograms $278,490 · Management $92,030 · Fundraising $0$370,520
Part X · Balance sheet $234,311 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $459,470$168,684
X-4 Accounts receivableStart of year $55,368$50,989
X-12 Other securitiesStart of year $1,208$1,208
X-15 Other assetsStart of year $13,430$13,430
X-16 Total assetsStart of year $529,836$234,311
X-17 Accounts payable and accrued expensesStart of year $352,918$192,584
X-25 Other liabilitiesStart of year $6,009$7,417
X-26 Total liabilitiesStart of year $358,927$200,001
X-27 Net assets without donor restrictionsStart of year $170,909$34,310
X-32 Total net assets or fund balancesStart of year $170,909$34,310
X-33 Total liabilities and net assetsStart of year $529,836$234,311
Part XI · Reconciliation of net assets $34,310 net assets at year end
XI-1 Total revenue$233,921
XI-2 Total expenses$370,520
XI-3 Revenue less expenses−$136,599
XI-4 Net assets at start of year$170,909
XI-10 Net assets at end of year$34,310

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

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