Civic Intelligence

Wv Coalition for Technology-Based Economic Development Inc.

990 • Fiscal year 2021 • EIN 20-5793624

Oct 01, 2020 to Sep 30, 2021 • Filed on Aug 12, 2022

Organization ProfileTECHCONNECTWV.ORG
1740 Union Carbide Dr No 4203South Charleston, WV 25303

(304) 437-4295

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.90x

Higher debt load relative to assets than 93% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

1.18x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

50th percentile

12%

Higher net margin than 50% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$58,650

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

6th percentile

-21%

Faster asset growth than 6% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

44%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$847,798

Down $230,028 (-21%) from 2020

Net Assets

Up

$82,250

Up $79,520 (+2913%) from 2020

Liabilities

Down

$765,548

Down $309,548 (-29%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin50th percentile

Revenue

Up

$647,497

Up $199,339 (+44%) from 2020

Expenses

Up

$567,976

Up $100,343 (+21%) from 2020

Net Income

Up

$79,521

Up $98,996 (+508%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $278,437Liabilities 2011: $269,951Net Assets 2011: $8,4862011Assets 2012: $550,995Liabilities 2012: $542,312Net Assets 2012: $8,6832012Assets 2013: $597,325Liabilities 2013: $588,642Net Assets 2013: $8,6832013Assets 2014: $480,717Liabilities 2014: $472,034Net Assets 2014: $8,6832014Assets 2015: $481,884Liabilities 2015: $424,236Net Assets 2015: $57,6482015Assets 2016: $406,988Liabilities 2016: $393,810Net Assets 2016: $13,1782016Assets 2017: $596,295Liabilities 2017: $573,090Net Assets 2017: $23,2052017Assets 2018: $642,061Liabilities 2018: $710,228Net Assets 2018: -$68,1672018Assets 2019: $582,768Liabilities 2019: $560,563Net Assets 2019: $22,2052019Assets 2020: $1,077,826Liabilities 2020: $1,075,096Net Assets 2020: $2,7302020Assets 2021: $847,798Liabilities 2021: $765,548Net Assets 2021: $82,2502021Assets 2022: $714,237Liabilities 2022: $739,232Net Assets 2022: -$24,9952022Assets 2023: $305,545Liabilities 2023: $76,883Net Assets 2023: $228,6622023Assets 2024: $194,482Liabilities 2024: $23,013Net Assets 2024: $171,4692024Assets 2025: $82,766Liabilities 2025: $6,250Net Assets 2025: $76,5162025

Highlighted filing

2021

Assets$847,798
Liabilities$765,548
Net Assets$82,250
Open 2021 Filing

Operations Trend

Revenue Growth72nd percentile

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

$1.0M$500K$0-$500KRevenue 2011: $340,450Expenses 2011: $339,950Net Income 2011: $5002011Expenses 2012: $542,7842012Expenses 2013: $551,2252013Revenue 2014: $363,940Expenses 2014: $363,940Net Income 2014: $02014Revenue 2015: $402,315Expenses 2015: $353,350Net Income 2015: $48,9652015Revenue 2016: $409,959Expenses 2016: $454,429Net Income 2016: -$44,4702016Revenue 2017: $510,981Expenses 2017: $500,954Net Income 2017: $10,0272017Revenue 2018: $767,982Expenses 2018: $859,354Net Income 2018: -$91,3722018Revenue 2019: $584,547Expenses 2019: $494,175Net Income 2019: $90,3722019Revenue 2020: $448,158Expenses 2020: $467,633Net Income 2020: -$19,4752020Revenue 2021: $647,497Expenses 2021: $567,976Net Income 2021: $79,5212021Revenue 2022: $211,512Expenses 2022: $318,757Net Income 2022: -$107,2452022Revenue 2023: $347,132Expenses 2023: $252,256Net Income 2023: $94,8762023Revenue 2024: $145,078Expenses 2024: $202,271Net Income 2024: -$57,1932024Revenue 2025: $98,600Expenses 2025: $193,553Net Income 2025: -$94,9532025

Highlighted filing

2021

Revenue$647,497
Expenses$567,976
Net Income$79,521
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Aug 12, 2022
Return Version
2020v4.2
Gross Receipts
$647,497
Mission and Program Overview

Mission

Dedicated to growing and diversifying west virginia's economy by advancing technology-based economic development (tbed).

Advanced technology-based economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$366,663$438,973▲ $72,310
Pledges and Grants Receivable$636,163$408,825▼ $227,338
Accounts Receivable$75,000--
Total Assets$1,077,826$847,798▼ $230,028
Liabilities
Deferred Revenue$1,062,714$753,357▼ $309,357
Other Liabilities$12,382$12,191▼ $191
Total Liabilities$1,075,096$765,548▼ $309,548
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,730$82,250▲ $79,520
Total Net Assets Fund Balance$2,730$82,250▲ $79,520
Total Liabilities and Net Assets / Fund Balance$1,077,826$847,798▼ $230,028
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anne BarthEXEC Director Term 8/31/21FT$58,650$58,650

Board Members and Trustees

NameTitle
MICHELE O'CONNORChair
Matt HarbaughVice Chair
Arria HinesDirector
Bruce MutterDirector
Derek ScarbroDirector
Frank VitaleDirector
Greg ClutterDirector
Greg HenthornDirector
Guy PedutoDirector
J Rudy HenleyDirector
Javier ReyesDirector
Jeff VandallDirector
John MaherDirector
Kevin DigregorioDirector
Mary HuntDirector
Robert WentzDirector
Russ LorinceDirector
Scott RotruckDirector
Tom VorbachDirector
Virginia PainterDirector
Kelley GoesSecretary
Kevin HighlanderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$630,997
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$16,500
All Other Contributions
$292,598
Change in Net Assets
$79,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$459,559
Salaries, Compensation, and Employee Benefits$85,917
Grants and Similar Amounts Paid$22,500
Total Fundraising Expense$3,179
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$327,359--$327,359
Information Technology$102,933--$102,933
Current Officers, Directors, Trustees, and Key Employees-$76,414$2,936$79,350
Grants to Domestic Individuals$22,500--$22,500
Fees for Services Accounting-$15,700-$15,700
Payroll Taxes-$6,324$243$6,567
Office Expenses$5,218--$5,218
Insurance$2,318--$2,318
Conferences and Meetings$1,651--$1,651
Other Expenses$1,500--$1,500
Total Functional Expenses$466,359$98,438$3,179$567,976
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
PPP Loan$12,000
Accrued payroll$191
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
Yes
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 11B

“The Organization provides a copy of the 990 return to all board members for their review before it is filed.”

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

“Board Members are required to disclose any conflicts of interest to the board or executive committee as soon as they become aware of the conflict.”

Form 990, Part VI, Section B, line 15

“Compensation for the executive director and officer positions are reviewed and approved by independent members of the executive committee.”

Form 990, Part VI, Section C, line 19

“The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Wv Coalition for Technology Based
EIN
20-5793624
Phone
3044374295
Address
1740 Union Carbide Dr No 4203, South Charleston, WV 25303
Doing Business As
Tech Connect Wv

Signing Officer

Name
Michele O'Connor
Title
Chair
Phone
3044374295
Signed
2022-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michele O'Connor
Formed
2008
Legal Domicile
Wv
Voting Board Members
22
Independent Board Members
22
Employees
1
Volunteers
22

Preparer

Firm
Arnett Carbis Toothman LLP
Address
101 Washington Street East, Charleston, WV 25329
Preparer
Dolores Rose
Phone
3043460441
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Technical Management Fees: Program service expenses 124,610. Management and general expenses 0. Fundraising expenses 0. Total expenses 124,610. Other Fees: Program service expenses 202,749. Management and general expenses 0. Fundraising expenses 0. Total expenses 202,749.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXEC DIR-Term 8/31/21
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02008
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IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt022
IRS990/GovernmentGrantsAmt0338399
IRS990/GrantAmt022500
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt022500
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt022500
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
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IRS990/IndependentVotingMemberCnt022
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IRS990/InformationTechnologyGrp/ProgramServicesAmt0102933
IRS990/InformationTechnologyGrp/TotalAmt0102933
IRS990/InsuranceGrp/ProgramServicesAmt02318
IRS990/InsuranceGrp/TotalAmt02318
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt07
IRS990/IRPDocumentW2GCnt00
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0Dedicated to growing and diversifying West Virginia's economy by advancing technology-based economic development (TBED).
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficeExpensesGrp/TotalAmt05218
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IRS990/OtherExpensesGrp/Desc0Project Event Expenses
IRS990/OtherExpensesGrp/Desc1Dues and Registrations
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IRS990/OtherExpensesGrp/ProgramServicesAmt11500
IRS990/OtherExpensesGrp/TotalAmt02880
IRS990/OtherExpensesGrp/TotalAmt11500
IRS990/OtherLiabilitiesGrp/BOYAmt012382
IRS990/OtherLiabilitiesGrp/EOYAmt012191
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Sponsorships
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IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0243
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06324
IRS990/PayrollTaxesGrp/TotalAmt06567
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0636163
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0408825
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Michele O'Connor
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0TechConnect launched "Bridging the Ecosystem in Science & Technology in West Virginia Program" (BEST in WV) on 9/29/19. Supported by a Federal & State Technology (FAST) Partnership Grant from the U.S. Small Business Administration in the amount of $125,000, this program was designed to help West Virginia research and development (R&D)-focused small businesses apply for and win federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. Delivered in partnership with the WV Small Business Development Center, the BEST in WV program held SBIR-STTR several bootcamps in 2021 that led to an increase researchers, entrepreneurs, and business leaders being introduced to or better informed about the SBIR-STTR programs' opportunities, new SBR and STTR applications filed by West Virginia companies, and SBIR/STTR awards won by West Virginia companies. Revenue and expenses are included in Program #1.
IRS990/ProgSrvcAccomActy3Grp/Desc03 Steps to Startup - The Appalachian Regional Commission (ARC) awarded $1.2 million in 2020 to INNOVA Commercialization Group, West Virginia Jobs Investment Trust, and TechConnectWV to provide enhanced entrepreneurial support to West Virginia entrepreneurs. TechConnectWV's role is to deliver the program's education and awareness components. A 3 Steps to Startup Venture Fair was held in January 2021. The event highlighted the resources available to assist entrepreneurs in West Virginia in starting and growing their businesses and gave attendees an opportunity to network with their peers as well we with service providers. Brad Smith, chairman of Inuit and a West Virginia native, was the keynote speaker. Revenue and expenses are included in Program #1.
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IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt016500
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Sponsorships - 2016 Amount: $ 17,630. 2017 Amount: $ 3,580. 2018 Amount: $ 50,146. 2019 Amount: $ 33,584. 2020 Amount: $ 16,500.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 10, Explanation of Other Income:
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0409937
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0623027
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0475781
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02551027
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt033584
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt050146
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt03580
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt017630
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0121440
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0475781
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02551027
IRS990ScheduleA/TotalSupportAmt02672467
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1191
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Accrued payroll
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt012191
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt022500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Women & Techonology Scholarship
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt05
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization provides a copy of the 990 return to all board members for their review before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board Members are required to disclose any conflicts of interest to the board or executive committee as soon as they become aware of the conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for the executive director and officer positions are reviewed and approved by independent members of the executive committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Technical Management Fees: Program service expenses 124,610. Management and general expenses 0. Fundraising expenses 0. Total expenses 124,610. Other Fees: Program service expenses 202,749. Management and general expenses 0. Fundraising expenses 0. Total expenses 202,749.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$847,798
Liabilities
$765,548
Net assets
$82,250
Revenue
$647,497
Expenses
$567,976
Net income
$79,521
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.08$0.01$0.08$0.10$0.19$0.09
2024Detailed filing. Detailed filing data is available for this year.$0.19$0.02$0.17$0.15$0.20$0.06
2023Detailed filing. Detailed filing data is available for this year.$0.31$0.08$0.23$0.35$0.25$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.74$0.02$0.21$0.32$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.85$0.77$0.08$0.65$0.57$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.08$1.08$0.00$0.45$0.47$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.58$0.56$0.02$0.58$0.49$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.64$0.71$0.07$0.77$0.86$0.09
2017Detailed filing. Detailed filing data is available for this year.$0.60$0.57$0.02$0.51$0.50$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.41$0.39$0.01$0.41$0.45$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.48$0.42$0.06$0.40$0.35$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.48$0.47$0.01$0.36$0.36$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.59$0.01$0.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.54$0.01$0.54
2011Summary only. Only limited summary data is available for this year.$0.28$0.27$0.01$0.34$0.34$0.00