Technyc INC FY2023 filing

Not tax-deductible

New York, NY501(c)(6)Community Development EIN 81-1219959Revenue $2.0M in FY2023

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.
$860K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · 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
$860K
to officers and key staff · 45% of spending
Concern: pay to officers and key staff is 45% of spending; over 30%.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
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
$655K
108% of total assets
Concern: liabilities are 108% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 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
$2.0M
+29% vs prior year
Spent
$1.9M
Net assets
−$46K
By yearFY2020–FY2024
Revenue
$2.0M
FY2023▲ +29%
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
$1.9M
FY2023▼ -3%
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
−$46K
FY2023▲ +69%
Tap a bar for its year
Net assets by fiscal year
FY2020$316K
FY2021$267K
FY2022−$148K
FY2023−$46K
FY2024$383K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Jan 2017.

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

Who runs it and what they're paid

16 people listed on the 990; $860K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/Secretary/Exec D
$364,188Pt VII · Sec A
Chief of Staff
$222,875Pt VII · Sec A
Head of Policy
$162,917Pt VII · Sec A
Dir of Communications
$109,596Pt VII · Sec A
Director (left in 2023)
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director (left in 2023)
$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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1 program · in their own filed words · FY2023
01

In 2023, Tech

Nyc supported the new york tech ecosystem through research, programming, and advocacy, while simultaneously working with stakeholders to ensure tech continued to give back to new york. In 2023, tech:nyc hosted more than 75 events, convening the city's top tech leaders, emerging startup founders, and our deep rolodex of government and…

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 FY2023 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Fees for servicesLn 2g$2.0M
Money outPt IX
$1.9M
Ln 25
Owns and owesPt X
−$46K
net assets · Ln 32
Cash and savingsLn 1–2$222K
Total assetsLn 16$608K
LiabilitiesLn 26$655K
PeoplePt VI, VII
16
listed · VII A
PaidVII A4
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.0M
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$222K
Cash and savings togetherLn 1–2$222K
Land, buildings, equipmentLn 10c$10K
Other assetsLn 15$14K
Total assetsLn 16$608K
LiabilitiesLn 26$655K
Net assetsLn 32−$46K
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 FY23End FY23
Cash and savingsLn 1–2$175K$222K
Land, buildings, equipmentLn 10c$11K$10K
Total assetsLn 16$699K$608K
LiabilitiesLn 26$847K$655K
Net assetsLn 32−$148K−$46K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$603K
Other salaries and wagesLn 7$376K
Other employee benefitsLn 9$78K
Payroll taxesLn 10$60K
Legal feesLn 11b$5K
Accounting feesLn 11c$23K
Other fees for servicesLn 11g$415K
Advertising and promotionLn 12$41K
Office expensesLn 13$21K
Information technologyLn 14$38K
OccupancyLn 16$72K
TravelLn 17$33K
Conferences, conventions and meetingsLn 19$82K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$9K
Other expenses (24a–d)Ln 24$54K
All other expensesLn 24e$207
Total functional expensesLn 25$1.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.9M$3.5M$446K$383K 990 PDF
FY2023 Viewing $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 $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 FY2023 990 (6 parts)
Part I · Summary $2,015,884 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $15,056$0
I-9 Program service revenuePrior year $1,553,493$2,015,884
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,568,549$2,015,884
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 $1,111,287$1,117,440
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $872,487$797,107
I-18 Total expensesPrior year $1,983,774$1,914,547
I-19 Revenue less expensesPrior year −$415,225$101,337
Part VI · Governance 4 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
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 $2,015,884 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,627,933 · Excluded from tax $387,951$2,015,884
VIII-12 Total revenueRelated to mission $1,627,933 · Unrelated business $0 · Excluded from tax $387,951$2,015,884
Part IX · Statement of functional expenses $1,914,547 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$603,411
IX-7 Other salaries and wages$375,986
IX-9 Other employee benefits$77,945
IX-10 Payroll taxes$60,098
IX-11b Legal fees$5,489
IX-11c Accounting fees$22,546
IX-11g Other fees for services$415,470
IX-12 Advertising and promotion$41,238
IX-13 Office expenses$21,412
IX-14 Information technology$38,250
IX-16 Occupancy$72,070
IX-17 Travel$33,204
IX-19 Conferences, conventions and meetings$81,913
IX-22 Depreciation, depletion and amortization$1,916
IX-23 Insurance$8,920
IX-24 Other expenses (24a–d)$54,472
IX-24e All other expenses$207
IX-25 Total functional expenses$1,914,547
Part X · Balance sheet $608,493 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $175,320$221,734
X-4 Accounts receivableStart of year $482,017$331,063
X-9 Prepaid expenses and deferred chargesStart of year $17,083$32,160
X-10c Land, buildings and equipment, netStart of year $10,774$9,859
X-15 Other assetsStart of year $13,677$13,677
X-16 Total assetsStart of year $698,871$608,493
X-17 Accounts payable and accrued expensesStart of year $31,123$48,098
X-19 Deferred revenueStart of year $815,489$561,349
X-25 Other liabilitiesStart of year $0$45,450
X-26 Total liabilitiesStart of year $846,612$654,897
X-32 Total net assets or fund balancesStart of year −$147,741−$46,404
X-33 Total liabilities and net assetsStart of year $698,871$608,493
Part XI · Reconciliation of net assets −$46,404 net assets at year end
XI-1 Total revenue$2,015,884
XI-2 Total expenses$1,914,547
XI-3 Revenue less expenses$101,337
XI-4 Net assets at start of year−$147,741
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$46,404

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

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