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Technology for the Future FY2020 filing

Tax-deductible

Kernersville, NC501(c)(3)Foundations & Grantmakers EIN 81-1808572Revenue $1.9M in FY2020

On file with the IRStechnologyforthefuture.orgPo Box 2215, 27285-2215 · Kernersville, NCTax-exempt since Mar 2016Publicly supported charity — 170(b)(1)(A)(vi)

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Our mission is to support innovative thinking, develop resources, and form cooperations that create opportunity, better standards of living, and that aid society.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
0 of 2
filings with a surplus
Average deficit $18K a year · 2% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $24
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$70K
204% of total assets
Concern: liabilities are 204% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 7 voting members
Looks good: 4 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
Spent
$1.9M
To programs
99%
Net assets
−$35K
By yearFY2020–FY2024
Revenue
$1.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$24K
FY2022$83K
FY2023$2K
FY2024$89K
Expenses
$1.9M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.9M
FY2021$38K
FY2022Not on file
FY2023Not on file
FY2024Not on file
Net assets
−$35K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$35K
FY2021−$49K
FY2022−$41K
FY2023−$63K
FY2024−$51K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Mar 2016.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $1.9M Management & general 1% · $21K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Joseph Erba
Board Member
$0Pt VII · Sec A
Odell Cleveland
Board Member
$0Pt VII · Sec A
Brett Henderson
Board Member
$0Pt VII · Sec A
Bob Akers
Board Member
$0Pt VII · Sec A
David Kane
Board Chair
$0Pt VII · Sec A
Christine Ryals
Board Chair
$0Pt VII · Sec A
Adrian Martinca
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
See Technology for the Future 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Fosters innovation and cooperation to improve lives and aid society.

Questions for Technology for the Future

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2020
01

Our open doors initiative and operation dream force have successfully provided over 10,000 laptops to students and organizations in need during 2020. We have successfully expanded our reach and contacts with schools across the COUNTRY.WE developed strategic patrnerships to allow for a national distribution model of devices, as well as an…

$1.9Mprogram expense

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 · FY2023
Amazonsmile FoundationFY2023$24
Total grants receivedfrom 1 funder$24

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Fees for servicesLn 2g$1.9M
Money outPt IX
$1.9M
Ln 25
Programscol B$1.9M
Managementcol C$21K
Owns and owesPt X
−$35K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$34K
LiabilitiesLn 26$70K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.9M
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Land, buildings, equipmentLn 10c$28K
Total assetsLn 16$34K
LiabilitiesLn 26$70K
Net assetsLn 32−$35K
OperationsPt I, VI
EmployeesI 52
VolunteersI 65
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$8K$6K
Land, buildings, equipmentLn 10c$31K$28K
Total assetsLn 16$39K$34K
LiabilitiesLn 26$52K$70K
Net assetsLn 32−$13K−$35K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$866K$866K
Other salaries and wagesLn 7$11K$11K
Payroll taxesLn 10$806$806
Other fees for servicesLn 11g$441$441
Advertising and promotionLn 12$23K$23K
Office expensesLn 13$9K$9K
TravelLn 17$145$145
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$3K$3K
Other expenses (24a–d)Ln 24$961K$956K$5K
All other expensesLn 24e$481$481
Total functional expensesLn 25$1.9M$1.9M$21K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $89K−$51K 990 PDF
FY2023 $2K−$63K 990 PDF
FY2022 $83K−$41K 990 PDF
FY2021 $24K$38K−$14K−$49K 990 PDF
FY2020 Viewing $1.9M$1.9M−$22K−$35K 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 FY2020 990 (6 parts)
Part I · Summary $1,855,485 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,200$0
I-9 Program service revenuePrior year $0$1,855,485
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $45,285$0
I-12 Total revenuePrior year $59,485$1,855,485
I-13 Grants and similar amounts paidPrior year $0$866,270
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,542$11,345
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $117,892$1,000,278
I-18 Total expensesPrior year $125,434$1,877,893
I-19 Revenue less expensesPrior year −$65,949−$22,408
Part VI · Governance 4 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $1,855,485 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,855,485$1,855,485
VIII-12 Total revenueRelated to mission $1,855,485 · Unrelated business $0 · Excluded from tax $0$1,855,485
Part IX · Statement of functional expenses $1,877,893 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $866,270$866,270
IX-7 Other salaries and wagesPrograms $10,539$10,539
IX-10 Payroll taxesPrograms $806$806
IX-11g Other fees for servicesPrograms $441$441
IX-12 Advertising and promotionPrograms $23,152$23,152
IX-13 Office expensesManagement $9,324$9,324
IX-17 TravelManagement $145$145
IX-20 InterestManagement $2,618$2,618
IX-22 Depreciation, depletion and amortizationManagement $3,490$3,490
IX-24 Other expenses (24a–d)Programs $955,780 · Management $4,847$960,627
IX-24e All other expensesManagement $481$481
IX-25 Total functional expensesPrograms $1,856,988 · Management $20,905 · Fundraising $0$1,877,893
Part X · Balance sheet $34,185 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $7,713$6,265
X-10c Land, buildings and equipment, netStart of year $31,410$27,920
X-16 Total assetsStart of year $39,320$34,185
X-17 Accounts payable and accrued expensesStart of year $17,922$40,306
X-26 Total liabilitiesStart of year $52,371$69,644
X-27 Net assets without donor restrictionsStart of year −$13,051−$35,459
X-32 Total net assets or fund balancesStart of year −$13,051−$35,459
X-33 Total liabilities and net assetsStart of year $39,320$34,185
Part XI · Reconciliation of net assets −$35,459 net assets at year end
XI-1 Total revenue$1,855,485
XI-2 Total expenses$1,877,893
XI-3 Revenue less expenses−$22,408
XI-4 Net assets at start of year−$13,051
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$35,459

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

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