Civic Intelligence

Frederick Innovative Technology Center Inc.

990 • Fiscal year 2014 • EIN 20-1262262

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 16, 2015

Organization ProfileWWW.FITCI.ORG
4539 Metropolitan Court21704

(301) 694-2999

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

82nd percentile

0.20x

Higher debt load relative to assets than 82% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

87th percentile

0.21x

Higher debt load relative to revenue than 87% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

21st percentile

-12%

Higher net margin than 21% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

24th percentile

-14%

Faster asset growth than 24% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

31st percentile

-11%

Faster revenue growth than 31% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$407,108

Down $67,400 (-14%) from 2013

Net Assets

Down

$326,710

Down $28,068 (-7.9%) from 2013

Liabilities

Down

$80,398

Down $39,332 (-33%) from 2013

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin21st percentile

Revenue

$390,980

No earlier filing loaded for comparison.

Expenses

Down

$439,040

Down $198,700 (-31%) from 2013

Net Income

-$48,060

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2010: $962,901Liabilities 2010: $81,602Net Assets 2010: $881,2992010Assets 2011: $876,558Liabilities 2011: $108,149Net Assets 2011: $768,4092011Assets 2012: $725,125Liabilities 2012: $48,560Net Assets 2012: $676,5652012Assets 2013: $474,508Liabilities 2013: $119,730Net Assets 2013: $354,7782013Assets 2014: $407,108Liabilities 2014: $80,398Net Assets 2014: $326,7102014Assets 2015: $317,631Liabilities 2015: $63,742Net Assets 2015: $253,8892015Assets 2016: $314,091Liabilities 2016: $36,453Net Assets 2016: $277,6382016Assets 2017: $514,554Liabilities 2017: $73,439Net Assets 2017: $441,1152017Assets 2018: $509,604Liabilities 2018: $70,779Net Assets 2018: $438,8252018Assets 2019: $675,418Liabilities 2019: $347,221Net Assets 2019: $328,1972019Assets 2020: $696,197Liabilities 2020: $423,071Net Assets 2020: $273,1262020Assets 2021: $806,151Liabilities 2021: $256,659Net Assets 2021: $549,4922021Assets 2022: $867,854Liabilities 2022: $565,515Net Assets 2022: $302,3392022Assets 2023: $2,908,352Liabilities 2023: $2,070,135Net Assets 2023: $838,2172023Assets 2024: $10,993,146Liabilities 2024: $3,870,879Net Assets 2024: $7,122,2672024

Highlighted filing

2014

Assets$407,108
Liabilities$80,398
Net Assets$326,710
Open 2014 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $718,1912010Revenue 2011: $552,998Expenses 2011: $665,888Net Income 2011: -$112,8902011Expenses 2012: $718,6362012Expenses 2013: $637,7402013Revenue 2014: $390,980Expenses 2014: $439,040Net Income 2014: -$48,0602014Revenue 2015: $407,682Expenses 2015: $480,503Net Income 2015: -$72,8212015Revenue 2016: $413,102Expenses 2016: $397,413Net Income 2016: $15,6892016Revenue 2017: $787,172Expenses 2017: $623,695Net Income 2017: $163,4772017Revenue 2018: $531,614Expenses 2018: $533,904Net Income 2018: -$2,2902018Revenue 2019: $765,041Expenses 2019: $875,669Net Income 2019: -$110,6282019Revenue 2020: $667,649Expenses 2020: $722,720Net Income 2020: -$55,0712020Revenue 2021: $1,004,662Expenses 2021: $728,296Net Income 2021: $276,3662021Revenue 2022: $794,175Expenses 2022: $959,989Net Income 2022: -$165,8142022Revenue 2023: $1,638,890Expenses 2023: $1,103,012Net Income 2023: $535,8782023Revenue 2024: $7,751,754Expenses 2024: $1,772,567Net Income 2024: $5,979,1872024

Highlighted filing

2014

Revenue$390,980
Expenses$439,040
Net Income-$48,060
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 16, 2015
Return Version
2013v4.0
Gross Receipts
$390,980
Mission and Program Overview

Mission

To foster entrepreneurial activity in the information technology and life science industries within frederick county, maryland.

To provide a nurturing and supportive environment to start-up technology-based businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$455,067$369,891▼ $85,176
Cash and Non-Interest-Bearing Accounts$5,337$29,065▲ $23,728
Accounts Receivable$14,104$8,152▼ $5,952
Total Assets$474,508$407,108▼ $67,400
Liabilities
Accounts Payable and Accrued Expenses$65,441$57,480▼ $7,961
Other Liabilities$14,565$21,415▲ $6,850
Deferred Revenue$39,724$1,503▼ $38,221
Total Liabilities$119,730$80,398▼ $39,332
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,612,500$1,612,500→ $0
Unrestricted Net Assets$-1,257,722$-1,285,790▼ $28,068
Total Net Assets Fund Balance$354,778$326,710▼ $28,068
Total Liabilities and Net Assets / Fund Balance$474,508$407,108▼ $67,400

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$366,690$276,817$643,507
Equipment$3,201$585,161$588,362
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Don SchillingChairman
Bob BuckheitDirector
Brian CastleberryDirector
Helen RiddleDirector
Joe LebherzDirector
Mike KinleyDirector
Ron KaeseDirector
Mike DelauterLegal
Richard GriffinSecretary
Doug BrowningTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$94,516
Program Service Revenue
$295,473
Investment Income
$0
Other Revenue
$991
All Other Contributions
$94,516
Change in Net Assets
$-48,060
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$356,168
Salaries, Compensation, and Employee Benefits$82,872
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$180,979$20,109-$201,088
Depreciation Depletion$69,206$15,970-$85,176
Other Salaries and Wages$45,358$27,120-$72,478
Fees for Services Other$4,000$18,813-$22,813
Advertising$11,536--$11,536
Other Employee Benefits$3,563$2,376-$5,939
Payroll Taxes$2,673$1,782-$4,455
All Other Expenses-$3,305-$3,305
Information Technology-$3,087-$3,087
Office Expenses-$2,732-$2,732
Insurance-$2,426-$2,426
Other Expenses$10,988$1,974-$1,974
Total Functional Expenses$328,303$110,737$0$439,040
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$21,415
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“A copy of the form 990 is reviewed by the executive director prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The board of directors requires board members annually to review a conflict of interest disclosure statement.”

Form 990, Part VI, Section B, Line 15A

“The executive director and president's current compensation level was recommended by the executive committee and approved by the board of directors. The existing compensation level was based upon external analysis of similar positions, and a review of both the company's achievements and the executive director's achievements.”

Form 990, Part VI, Section C, Line 19

“The information is available upon request.”

Filing and Contact Details

Filer

EIN
20-1262262
Phone
3016942999

Signing Officer

Name
Don Schilling
Title
Chairman
Phone
3016942999
Signed
2015-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don Schilling
Formed
2004
Legal Domicile
Md
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Preparer
Christine Limparis
Phone
3016209101
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed since prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization's federal exempt organization tax returns are subject to examination by the irs, generally for three years after they were filed. For the year ended june 30, 2013 and open tax years 2012, 2011 and 2010, there is no known unrecognized tax provision or benefit.”

Raw XML AppendixShowing 400 of 412 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0296464
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt094516
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt066045
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0161278
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0184725
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0240000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0746564
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01812966
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0746564
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt094516
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt066045
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0161278
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0184725
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0240000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0746564
IRS990ScheduleA/TotalSupportAmt0746564
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt03201
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0585161
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0588362
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0366690
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0276817
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0643507
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021415
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. FOR THE YEAR ENDED JUNE 30, 2013 AND OPEN TAX YEARS 2012, 2011 AND 2010, THERE IS NO KNOWN UNRECOGNIZED TAX PROVISION OR BENEFIT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0369891
IRS990ScheduleD/TotalLiabilityAmt021415
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REQUIRES BOARD MEMBERS ANNUALLY TO REVIEW A CONFLICT OF INTEREST DISCLOSURE STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR AND PRESIDENT'S CURRENT COMPENSATION LEVEL WAS RECOMMENDED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS. THE EXISTING COMPENSATION LEVEL WAS BASED UPON EXTERNAL ANALYSIS OF SIMILAR POSITIONS, AND A REVIEW OF BOTH THE COMPANY'S ACHIEVEMENTS AND THE EXECUTIVE DIRECTOR'S ACHIEVEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE INFORMATION IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED SINCE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01612500
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01612500
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0474508
IRS990/TotalAssetsEOYAmt0407108
IRS990/TotalAssetsGrp/BOYAmt0474508
IRS990/TotalAssetsGrp/EOYAmt0407108
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt094516
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0110737
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0328303
IRS990/TotalFunctionalExpensesGrp/TotalAmt0439040
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0119730
IRS990/TotalLiabilitiesEOYAmt080398
IRS990/TotalLiabilitiesGrp/BOYAmt0119730
IRS990/TotalLiabilitiesGrp/EOYAmt080398
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0354778
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0326710
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0328303
IRS990/TotalProgramServiceRevenueAmt0295473
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0296464
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0390980
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0474508
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0407108
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1257722
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1285790
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine104539 METROPOLITAN COURT
IRS990/USAddress/City0FREDERICK
IRS990/USAddress/State0MD
IRS990/USAddress/ZIPCode021704
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.FITCI.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DON SCHILLING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03016942999
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-16
ReturnHeader/Filer/BusinessName/BusinessNameLine10FREDERICK INNOVATIVE TECHNOLOGY CENTER INC
ReturnHeader/Filer/BusinessNameControlTxt0FRED
ReturnHeader/Filer/EIN0201262262
ReturnHeader/Filer/PhoneNum03016942999
ReturnHeader/Filer/USAddress/AddressLine104539 METROPOLITAN COURT
ReturnHeader/Filer/USAddress/City0FREDERICK
ReturnHeader/Filer/USAddress/State0MD
ReturnHeader/Filer/USAddress/ZIPCode021704
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521946112
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10HILDEBRAND LIMPARIS & ASSOC CPAS

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$407,108
Liabilities
$80,398
Net assets
$326,710
Revenue
$390,980
Expenses
$439,040
Net income
-$48,060
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$3.87$7.12$7.75$1.77$5.98
2023Detailed filing. Detailed filing data is available for this year.$2.91$2.07$0.84$1.64$1.10$0.54
2022Detailed filing. Detailed filing data is available for this year.$0.87$0.57$0.30$0.79$0.96$0.17
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.26$0.55$1.00$0.73$0.28
2020Detailed filing. Detailed filing data is available for this year.$0.70$0.42$0.27$0.67$0.72$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.68$0.35$0.33$0.77$0.88$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.51$0.07$0.44$0.53$0.53$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.51$0.07$0.44$0.79$0.62$0.16
2016Detailed filing. Detailed filing data is available for this year.$0.31$0.04$0.28$0.41$0.40$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.32$0.06$0.25$0.41$0.48$0.07
2014Detailed filing. Detailed filing data is available for this year.$0.41$0.08$0.33$0.39$0.44$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.12$0.35$0.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.05$0.68$0.72
2011Summary only. Only limited summary data is available for this year.$0.88$0.11$0.77$0.55$0.67$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.08$0.88$0.72