Civic Intelligence

Tech Foundry Inc.

990 • Fiscal year 2018 • EIN 46-4389001

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 07, 2018

1391 Main Street 9th FloorSpringfield, MA 01103

(413) 276-0609

Siviq Scores

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

Liabilities / Assets

78th percentile

0.10x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.04x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

20th percentile

-14%

Higher net margin than 20% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

17th percentile

-26%

Faster asset growth than 17% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

49th percentile

0.4%

Faster revenue growth than 49% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$192,622

Down $66,727 (-26%) from 2017

Net Assets

Down

$173,988

Down $69,386 (-29%) from 2017

Liabilities

Up

$18,634

Up $2,659 (+17%) from 2017

Revenue

Up

$499,427

Up $1,748 (+0.4%) from 2017

Expenses

Up

$568,813

Up $37,407 (+7.0%) from 2017

Net Income

Down

-$69,386

Down $35,659 (-106%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2016: $277,112Liabilities 2016: $11Net Assets 2016: $277,1012016Assets 2017: $259,349Liabilities 2017: $15,975Net Assets 2017: $243,3742017Assets 2018: $192,622Liabilities 2018: $18,634Net Assets 2018: $173,9882018Assets 2019: $103,302Liabilities 2019: $29,006Net Assets 2019: $74,2962019Assets 2020: $190,587Liabilities 2020: $39,428Net Assets 2020: $151,1592020Assets 2021: $506,892Liabilities 2021: $158,932Net Assets 2021: $347,9602021Assets 2022: $255,995Liabilities 2022: $47,050Net Assets 2022: $208,9452022Assets 2025: $1,493,550Liabilities 2025: $405,955Net Assets 2025: $1,087,5952025

Highlighted filing

2018

Assets$192,622
Liabilities$18,634
Net Assets$173,988

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2016: $386,677Expenses 2016: $462,511Net Income 2016: -$75,8342016Revenue 2017: $497,679Expenses 2017: $531,406Net Income 2017: -$33,7272017Revenue 2018: $499,427Expenses 2018: $568,813Net Income 2018: -$69,3862018Revenue 2019: $419,400Expenses 2019: $519,092Net Income 2019: -$99,6922019Revenue 2020: $490,576Expenses 2020: $413,713Net Income 2020: $76,8632020Revenue 2021: $704,218Expenses 2021: $507,417Net Income 2021: $196,8012021Revenue 2022: $454,485Expenses 2022: $593,500Net Income 2022: -$139,0152022Revenue 2025: $1,956,783Expenses 2025: $1,652,095Net Income 2025: $304,6882025

Highlighted filing

2018

Revenue$499,427
Expenses$568,813
Net Income-$69,386
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 7, 2018
Return Version
2017v2.3
Gross Receipts
$499,427
Mission and Program Overview

Mission

Founded by concerned area employers who saw a dramatic need for a skilled it workforce, tech foundry is on a mission to build the most dynamic and fluid it workforce development and training programs ever created. Driven by specific employer demands, we combine hands-on skill focused technical training with professional development, which aids us in our overarching duty to elevate an under-served, at-risk population into tomorrow's it workforce. The greater springfield area of massachusetts is a region ripe with opportunity. A low cost of living and high and quality of life make it an attractive community for businesses and employees alike. The obstacle to growth for our region is the lack of a skilled workforce. Without a strong, scalable, and dynamic workforce, employers are hesitant to locate and grow jobs here and the talent we do have is hesitant to stay. At no cost to the students, we prepare a cross-section of the population to step into a sustainable career in the information t

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$64,137$77,791▲ $13,654
Cash and Non-Interest-Bearing Accounts$155,507$54,932▼ $100,575
Accounts Receivable$25,513$45,566▲ $20,053
Prepaid Expenses and Deferred Charges$14,192$14,333▲ $141
Total Assets$259,349$192,622▼ $66,727
Liabilities
Accounts Payable and Accrued Expenses$15,975$18,634▲ $2,659
Total Liabilities$15,975$18,634▲ $2,659
Net Assets / Fund Balance
Unrestricted Net Assets$88,374$173,988▲ $85,614
Temporarily Rstr Net Assets$155,000--
Total Net Assets Fund Balance$243,374$173,988▼ $69,386
Total Liabilities and Net Assets / Fund Balance$259,349$192,622▼ $66,727

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$77,791$22,290$100,081
Compensation and Service Providers

Board Members and Trustees

NameTitle
Delcie D Bean IvPresident &
Amy JamrogDirector
Ann BurkeDirector
Dawn CreightonDirector
Greg BialeckiDirector
Patrick StreckDirector
Ray BerryTreasurer
Scott W FosterVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$71,752
Program Service Revenue
$427,675
Investment Income
$0
Other Revenue
$0
All Other Contributions
$71,752
Change in Net Assets
$-69,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$285,359
Other Expenses$283,454
Total Fundraising Expense$424
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$198,213--$198,213
Occupancy$137,863--$137,863
Fees for Services Other$103,604--$103,604
Current Officers, Directors, Trustees, and Key Employees-$54,285-$54,285
Payroll Taxes$17,422$4,604-$22,026
Other Employee Benefits$8,901$1,934-$10,835
Depreciation Depletion$8,298$118-$8,416
Office Expenses$5,501$285$424$6,210
Information Technology$5,767--$5,767
Fees for Services Accounting-$5,663-$5,663
Insurance$3,924$530-$4,454
Advertising$1,640--$1,640
Conferences and Meetings$856--$856
Travel$348--$348
Other Expenses$3,471$125-$125
Total Functional Expenses$500,845$67,544$424$568,813
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
No
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, Page 6, Part VI, Line 11B

The form 990 is disseminated to various board members before it is filed. Board members have the opportunity to review the form, ask questions and recommend changes as appropriate.

Form 990, Page 6, Part VI, Line 12C

When a new board member is recruited and voted in, we present them with the conflict of interest policy and ask them to review and sign. At least annually, it is discussed with all board members who are required to notify the organization of any changes.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Tech Foundry Inc
EIN
46-4389001
Phone
4132760609
Address
1391 MAIN STREET 9TH FLOOR, SPRINGFIELD, MA 01103

Signing Officer

Name
Delcie D Bean Iv
Title
President & Clerk
Phone
4132760609
Signed
2018-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Delcie D Bean Iv
Formed
2013
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
10

Preparer

Firm
Burgess Schultz & Robb Pc
Address
PO BOX 467, EAST LONGMEADOW, MA 01028-0467
Preparer
N Andrew Robb
Phone
4135250025
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITES

Founded by concerned area employers who saw a dramatic need for a skilled it workforce, tech foundry is on a mission to build the most dynamic and fluid it workforce development and training programs ever created. Driven by specific employer demands, we combine hands-on skill focused technical training with professional development, which aids us in our overarching duty to elevate an under-served, at-risk population into tomorrow's it workforce. The greater springfield area of massachusetts is a region ripe with opportunity. A low cost of living and high and quality of life make it an attractive community for businesses and employees alike. The obstacle to growth for our region is the lack of a skilled workforce. Without a strong, scalable, and dynamic workforce, employers are hesitant to locate and grow jobs here and the talent we do have is hesitant to stay. At no cost to the students, we prepare a cross-section of the population to step into a sustainable career in the information technology sector. As part of our robust program, we provide a comprehensive computer science curriculum that gives students the fundamental knowledge needed to work with a variety of programming languages, computer hardware, networking solutions, and more. Our program doesn't just focus on the computer skills needed for it jobs, but also cultivates new opportunities for our students by developing their professional skills and resumes through training, and facilitating interviews with several different employers at our employer matching event. Tech foundry is turning workforce development on its head by taking a a top-down approach to it training. We utilize a groundbreaking employer partnership program that translates their open it positions into a list of specific and quantifiable skills that can be taught and measured. Volunteers from partner organizations take the time to help teach the specific skills that matter most to them in candidates. Through the combination of training, mentoring, professional skills development and internship placement, tech foundry is able to take a group of students, who otherwise had little to no it experience when they started and mold them into the job-seekers that employers are looking to hire. Call it common sense, call it stacking the deck, but we make sure that each student learns the technical concepts and skills that are most in demand in the local economy.

Form 990, Part IX, Line 11G

Payroll service fees 1,483 0 0 recruitment 171 0 0 contract services 79,850 0 0 contract services/outside 22,100 0 0 total 103,604 0 0

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FOUNDED BY CONCERNED AREA EMPLOYERS WHO SAW A DRAMATIC NEED FOR A SKILLED IT WORKFORCE, TECH FOUNDRY IS ON A MISSION TO BUILD THE MOST DYNAMIC AND FLUID IT WORKFORCE DEVELOPMENT AND TRAINING PROGRAMS EVER CREATED. DRIVEN BY SPECIFIC EMPLOYER DEMANDS, WE COMBINE HANDS-ON SKILL FOCUSED TECHNICAL TRAINING WITH PROFESSIONAL DEVELOPMENT, WHICH AIDS US IN OUR OVERARCHING DUTY TO ELEVATE AN UNDER-SERVED, AT-RISK POPULATION INTO TOMORROW'S IT WORKFORCE. THE GREATER SPRINGFIELD AREA OF MASSACHUSETTS IS A REGION RIPE WITH OPPORTUNITY. A LOW COST OF LIVING AND HIGH AND QUALITY OF LIFE MAKE IT AN ATTRACTIVE COMMUNITY FOR BUSINESSES AND EMPLOYEES ALIKE. THE OBSTACLE TO GROWTH FOR OUR REGION IS THE LACK OF A SKILLED WORKFORCE. WITHOUT A STRONG, SCALABLE, AND DYNAMIC WORKFORCE, EMPLOYERS ARE HESITANT TO LOCATE AND GROW JOBS HERE AND THE TALENT WE DO HAVE IS HESITANT TO STAY. AT NO COST TO THE STUDENTS, WE PREPARE A CROSS-SECTION OF THE POPULATION TO STEP INTO A SUSTAINABLE CAREER IN THE INFORMATION TECHNOLOGY SECTOR. AS PART OF OUR ROBUST PROGRAM, WE PROVIDE A COMPREHENSIVE COMPUTER SCIENCE CURRICULUM THAT GIVES STUDENTS THE FUNDAMENTAL KNOWLEDGE NEEDED TO WORK WITH A VARIETY OF PROGRAMMING LANGUAGES, COMPUTER HARDWARE, NETWORKING SOLUTIONS, AND MORE. OUR PROGRAM DOESN'T JUST FOCUS ON THE COMPUTER SKILLS NEEDED FOR IT JOBS, BUT ALSO CULTIVATES NEW OPPORTUNITIES FOR OUR STUDENTS BY DEVELOPING THEIR PROFESSIONAL SKILLS AND RESUMES THROUGH TRAINING, AND FACILITATING INTERVIEWS WITH SEVERAL DIFFERENT EMPLOYERS AT OUR EMPLOYER MATCHING EVENT. TECH FOUNDRY IS TURNING WORKFORCE DEVELOPMENT ON ITS HEAD BY TAKING A A TOP-DOWN APPROACH TO IT TRAINING. WE UTILIZE A GROUNDBREAKING EMPLOYER PARTNERSHIP PROGRAM THAT TRANSLATES THEIR OPEN IT POSITIONS INTO A LIST OF SPECIFIC AND QUANTIFIABLE SKILLS THAT CAN BE TAUGHT AND MEASURED. VOLUNTEERS FROM PARTNER ORGANIZATIONS TAKE THE TIME TO HELP TEACH THE SPECIFIC SKILLS THAT MATTER MOST TO THEM IN CANDIDATES. THROUGH THE COMBINATION OF TRAINING, MENTORING, PROFESSIONAL SKILLS DEVELOPMENT AND INTERNSHIP PLACEMENT, TECH FOUNDRY IS ABLE TO TAKE A GROUP OF STUDENTS, WHO OTHERWISE HAD LITTLE TO NO IT EXPERIENCE WHEN THEY STARTED AND MOLD THEM INTO THE JOB-SEEKERS THAT EMPLOYERS ARE LOOKING TO HIRE. CALL IT COMMON SENSE, CALL IT STACKING THE DECK, BUT WE MAKE SURE THAT EACH STUDENT LEARNS THE TECHNICAL CONCEPTS AND SKILLS THAT ARE MOST IN DEMAND IN THE LOCAL ECONOMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS DISSEMINATED TO VARIOUS BOARD MEMBERS BEFORE IT IS FILED. BOARD MEMBERS HAVE THE OPPORTUNITY TO REVIEW THE FORM, ASK QUESTIONS AND RECOMMEND CHANGES AS APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WHEN A NEW BOARD MEMBER IS RECRUITED AND VOTED IN, WE PRESENT THEM WITH THE CONFLICT OF INTEREST POLICY AND ASK THEM TO REVIEW AND SIGN. AT LEAST ANNUALLY, IT IS DISCUSSED WITH ALL BOARD MEMBERS WHO ARE REQUIRED TO NOTIFY THE ORGANIZATION OF ANY CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PAYROLL SERVICE FEES 1,483 0 0 RECRUITMENT 171 0 0 CONTRACT SERVICES 79,850 0 0 CONTRACT SERVICES/OUTSIDE 22,100 0 0 TOTAL 103,604 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DELCIE D BEAN IV
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CLERK
ReturnHeader/BusinessOfficerGrp/PhoneNum04132760609
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TECH FOUNDRY INC
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.39.50.202
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:57:46
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043578147
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURGESS SCHULTZ & ROBB PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 467
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST LONGMEADOW
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0N ANDREW ROBB
ReturnHeader/ReturnTs02018-11-15T14:57:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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