Technyc INC FY2020 filing

Not tax-deductible

New York, NY501(c)(6)Community Development EIN 81-1219959Revenue $1.3M in FY2020

On file with the IRStechnyc.org152 West 57th Street 49th Floor, 10019-3480 · New York, NYTax-exempt since Jan 2017

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Ensures that new york is the best place to build and grow a technology company.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$432K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
3 of 5
filings with a surplus
Average surplus $46K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$432K
to officers and key staff · 36% of spending
Concern: pay to officers and key staff is 36% of spending; over 30%.
Pt VII · Sec A
4 mo
of spending, in cash
Looks good: 3.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $550K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$294K
48% of total assets
Looks good: liabilities are 48% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
Spent
$1.2M
Net assets
$316K
By yearFY2020–FY2024
Revenue
$1.3M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.6M
FY2023$2.0M
FY2024$3.9M
Expenses
$1.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$2.0M
FY2023$1.9M
FY2024$3.5M
Net assets
$316K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$316K
FY2021$267K
FY2022−$148K
FY2023−$46K
FY2024$383K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2017.

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

Who runs it and what they're paid

18 people listed on the 990; $432K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/Secretary/Exec Director
$260,980Pt VII · Sec A
Chief of Staff
$170,786Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Julie Samuels’s $424K as President/Secretary/CEO is at the 94th percentile of top reported officer pay among 2832 $1–10M community development 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 · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Julie Samuels$423,958$364,188$111,463$263,127$260,980
Jason Clark——$310,612——
Sarah Brown$285,000$222,875$222,222$172,320$170,786
Julian Kline—$162,917$115,965——
Marjorie Velazquez$133,736————
Bryan Lozano$117,727————
Alisa McCall$111,250————
Tyler Bugg—$109,596$107,000$102,409—

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

Helps New York become the best place to build and grow technology companies.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Tech

Nyc, inc. Represents the technology community in discussions with local and state governments, regulators, and the local business community. The organization engages with political leaders and advocates for policies that underscore a regulatory environment that supports the growth of tech companies and highly skilled talent in new york…

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$550K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$1.3M
Gifts and grantsLn 1h$33K
Other incomeLn 4–11$7K
Money outPt IX
$1.2M
Ln 25
Owns and owesPt X
$316K
net assets · Ln 32
Cash and savingsLn 1–2$375K
Total assetsLn 16$610K
LiabilitiesLn 26$294K
PeoplePt VI, VII
18
listed · VII A
PaidVII A2
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$33K
Fees for servicesLn 2g$1.3M
Other incomeLn 4–11$7K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$375K
Cash and savings togetherLn 1–2$375K
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$275
Total assetsLn 16$610K
LiabilitiesLn 26$294K
Net assetsLn 32$316K
OperationsPt I, VI
EmployeesI 56
VolunteersI 616
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 FY20End FY20
Cash and savingsLn 1–2$176K$375K
Land, buildings, equipmentLn 10c$1K$3K
Total assetsLn 16$665K$610K
LiabilitiesLn 26$493K$294K
Net assetsLn 32$172K$316K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$268K
Other salaries and wagesLn 7$468K
Other employee benefitsLn 9$40K
Payroll taxesLn 10$49K
Legal feesLn 11b$25K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$252K
Advertising and promotionLn 12$250
Office expensesLn 13$13K
Information technologyLn 14$13K
OccupancyLn 16$30K
TravelLn 17$13K
Conferences, conventions and meetingsLn 19$20K
Depreciation, depletion and amortizationLn 22$810
InsuranceLn 23$5K
Other expenses (24a–d)Ln 24$4K
Total functional expensesLn 25$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.9M$3.5M$446K$383K 990 PDF
FY2023 $2.0M$1.9M$101K−$46K 990 PDF
FY2022 $1.6M$2.0M−$415K−$148K 990 PDF
FY2021 $1.3M$1.3M−$49K$267K 990 PDF
FY2020 Viewing $1.3M$1.2M$144K$316K 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 J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,349,808 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$32,573
I-9 Program service revenuePrior year $1,376,885$1,310,041
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $17,756$7,194
I-12 Total revenuePrior year $1,394,641$1,349,808
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $711,342$825,304
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $508,451$380,039
I-18 Total expensesPrior year $1,219,793$1,205,343
I-19 Revenue less expensesPrior year $174,848$144,465
Part VI · Governance 16 of 17 board members independent, 3 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
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 $1,349,808 across 5 lines filed
VIII-1f All other contributions, gifts and grants$32,573
VIII-1h Total contributions, gifts and grants$32,573
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,310,041$1,310,041
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,444 · Excluded from tax $3,750$7,194
VIII-12 Total revenueRelated to mission $1,313,485 · Unrelated business $0 · Excluded from tax $3,750$1,349,808
Part IX · Statement of functional expenses $1,205,343 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$268,344
IX-7 Other salaries and wages$467,894
IX-9 Other employee benefits$40,477
IX-10 Payroll taxes$48,589
IX-11b Legal fees$24,666
IX-11c Accounting fees$3,722
IX-11g Other fees for services$252,416
IX-12 Advertising and promotion$250
IX-13 Office expenses$12,685
IX-14 Information technology$13,317
IX-16 Occupancy$29,839
IX-17 Travel$13,079
IX-19 Conferences, conventions and meetings$19,618
IX-22 Depreciation, depletion and amortization$810
IX-23 Insurance$5,155
IX-24 Other expenses (24a–d)$4,482
IX-25 Total functional expenses$1,205,343
Part X · Balance sheet $609,853 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $176,179$375,475
X-4 Accounts receivableStart of year $473,750$220,500
X-9 Prepaid expenses and deferred chargesStart of year $10,151$10,811
X-10c Land, buildings and equipment, netStart of year $1,113$2,792
X-15 Other assetsStart of year $3,525$275
X-16 Total assetsStart of year $664,718$609,853
X-17 Accounts payable and accrued expensesStart of year $64,991$32,201
X-19 Deferred revenueStart of year $427,999$261,459
X-26 Total liabilitiesStart of year $492,990$293,660
X-32 Total net assets or fund balancesStart of year $171,728$316,193
X-33 Total liabilities and net assetsStart of year $664,718$609,853
Part XI · Reconciliation of net assets $316,193 net assets at year end
XI-1 Total revenue$1,349,808
XI-2 Total expenses$1,205,343
XI-3 Revenue less expenses$144,465
XI-4 Net assets at start of year$171,728
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$316,193

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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