Civic Intelligence

Frederick Innovative Technology Center Inc.

990 • Fiscal year 2015 • EIN 20-1262262

Jul 01, 2014 to Jun 30, 2015 • Filed on Jun 24, 2016

4539 Metropolitan CourtFrederick, MD 21704

(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.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

0.16x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

17th percentile

-18%

Higher net margin than 17% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

19th percentile

-22%

Faster asset growth than 19% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

55th percentile

4.3%

Faster revenue growth than 55% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Down

$317,631

Down $89,477 (-22%) from 2014

Net Assets

Down

$253,889

Down $72,821 (-22%) from 2014

Liabilities

Down

$63,742

Down $16,656 (-21%) from 2014

Revenue

Up

$407,682

Up $16,702 (+4.3%) from 2014

Expenses

Up

$480,503

Up $41,463 (+9.4%) from 2014

Net Income

Down

-$72,821

Down $24,761 (-52%) from 2014

Historical Trend

Balance Sheet Trend

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

2015

Assets$317,631
Liabilities$63,742
Net Assets$253,889

Operations Trend

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

2015

Revenue$407,682
Expenses$480,503
Net Income-$72,821
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jun 24, 2016
Return Version
2014v6.0
Gross Receipts
$407,682
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$369,891$308,329▼ $61,562
Cash and Non-Interest-Bearing Accounts$29,065$5,768▼ $23,297
Accounts Receivable$8,152$3,534▼ $4,618
Total Assets$407,108$317,631▼ $89,477
Liabilities
Accounts Payable and Accrued Expenses$57,480$34,976▼ $22,504
Other Liabilities$21,415$28,766▲ $7,351
Deferred Revenue$1,503$0▼ $1,503
Total Liabilities$80,398$63,742▼ $16,656
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,612,500$0▼ $1,612,500
Unrestricted Net Assets$-1,285,790$253,889▲ $1,539,679
Total Net Assets Fund Balance$326,710$253,889▼ $72,821
Total Liabilities and Net Assets / Fund Balance$407,108$317,631▼ $89,477

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$308,329$327,118$635,447
Equipment$0$588,362$588,362
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$104,500
Program Service Revenue
$300,938
Investment Income
$0
Other Revenue
$2,244
All Other Contributions
$104,500
Change in Net Assets
$-72,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$368,248
Salaries, Compensation, and Employee Benefits$112,255
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$190,736$21,193-$211,929
Other Salaries and Wages$49,036$32,691-$81,727
Depreciation Depletion$49,249$12,312-$61,561
Other Employee Benefits$13,469$8,979-$22,448
Fees for Services Other$14,958--$14,958
Payroll Taxes$4,848$3,232-$8,080
Office Expenses-$6,609-$6,609
Fees for Services Accounting-$3,940-$3,940
Information Technology-$3,291-$3,291
Advertising$2,466--$2,466
All Other Expenses-$1,715-$1,715
Other Expenses$2,701$1,400-$1,400
Fees for Services Legal-$1,009-$1,009
Conferences and Meetings-$139-$139
Total Functional Expenses$372,805$107,698$0$480,503
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$28,766
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

Filer Name
Frederick Innovative Technology Center Inc
EIN
20-1262262
Phone
3016942999
Address
4539 METROPOLITAN COURT, FREDERICK, MD 21704

Signing Officer

Name
Don Schilling
Title
Chairman
Phone
3016942999
Signed
2016-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don Schilling
Formed
2004
Legal Domicile
Md
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
0

Preparer

Firm
Santos Postal & Company Pc
Address
7101 GUILFORD DRIVE SUITE 200, FREDERICK, MD 21704
Preparer
Howard J Postal
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, 2015 and open tax years 2014, 2013 and 2012, there is no known unrecognized tax provision.

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IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1VIRTUAL CLIENT
IRS990/ProgramServiceRevenueGrp/Desc2SPONSORSHIP INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0286838
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt113800
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0286838
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt113800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2300
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt094516
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0356168
IRS990/PYOtherRevenueAmt0991
IRS990/PYProgramServiceRevenueAmt0295473
IRS990/PYRevenuesLessExpensesAmt0-48060
IRS990/PYSalariesCompEmpBnftPaidAmt082872
IRS990/PYTotalExpensesAmt0439040
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0390980
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-72821
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0303182
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0104500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt094516
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt066045
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0161278
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0184725
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0611064
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01745631
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0611064
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0104500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt094516
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt066045
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0161278
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0184725
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0611064
IRS990ScheduleA/TotalSupportAmt0611064
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/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0588362
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0588362
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0308329
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0327118
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0635447
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt028766
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, 2015 AND OPEN TAX YEARS 2014, 2013 AND 2012, THERE IS NO KNOWN UNRECOGNIZED TAX PROVISION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0308329
IRS990ScheduleD/TotalLiabilityAmt028766
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/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0407108
IRS990/TotalAssetsEOYAmt0317631
IRS990/TotalAssetsGrp/BOYAmt0407108
IRS990/TotalAssetsGrp/EOYAmt0317631
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0104500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0107698
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0372805
IRS990/TotalFunctionalExpensesGrp/TotalAmt0480503
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt080398
IRS990/TotalLiabilitiesEOYAmt063742
IRS990/TotalLiabilitiesGrp/BOYAmt080398
IRS990/TotalLiabilitiesGrp/EOYAmt063742
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0326710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0253889
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0372805
IRS990/TotalProgramServiceRevenueAmt0300938
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0303182
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0407682
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0407108
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0317631
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1285790
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0253889
IRS990/UponRequestInd0X

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Filings

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