Civic Intelligence

Tech901 (Formerly Memphis Academy of Technology)

990 • Fiscal year 2018 • EIN 47-4244246

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 25, 2019

Organization ProfileTECH901.ORG
1350 Concourse Avenue Ste 375Memphis, TN 38104

(901) 881-2677

Siviq Scores

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

Liabilities / Assets

28th percentile

0.01x

Higher debt load relative to assets than 28% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

22nd percentile

0.01x

Higher debt load relative to revenue than 22% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

75th percentile

17%

Higher net margin than 75% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

82nd percentile

$142,149

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 9.9% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

84th percentile

24%

Faster asset growth than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

29th percentile

-4.4%

Faster revenue growth than 29% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$1,201,472

Up $231,897 (+24%) from 2017

Net Assets

Up

$1,186,598

Up $241,851 (+26%) from 2017

Liabilities

Down

$14,874

Down $9,954 (-40%) from 2017

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin75th percentile

Revenue

Down

$1,440,566

Down $66,378 (-4.4%) from 2017

Expenses

Up

$1,198,715

Up $87,514 (+7.9%) from 2017

Net Income

Down

$241,851

Down $153,892 (-39%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $17,540Liabilities 2015: $4,498Net Assets 2015: $13,0422015Assets 2016: $862,814Liabilities 2016: $313,810Net Assets 2016: $549,0042016Assets 2017: $969,575Liabilities 2017: $24,828Net Assets 2017: $944,7472017Assets 2018: $1,201,472Liabilities 2018: $14,874Net Assets 2018: $1,186,5982018Assets 2019: $1,309,423Liabilities 2019: $39,524Net Assets 2019: $1,269,8992019Assets 2020: $1,277,677Liabilities 2020: $187,252Net Assets 2020: $1,090,4252020Assets 2021: $1,670,427Liabilities 2021: $33,035Net Assets 2021: $1,637,3922021Assets 2022: $1,497,206Liabilities 2022: $512,671Net Assets 2022: $984,5352022Assets 2023: $1,713,109Liabilities 2023: $416,743Net Assets 2023: $1,296,3662023Assets 2024: $1,464,188Liabilities 2024: $309,029Net Assets 2024: $1,155,1592024

Highlighted filing

2018

Assets$1,201,472
Liabilities$14,874
Net Assets$1,186,598
Open 2018 Filing

Operations Trend

Revenue Growth29th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $245,100Expenses 2015: $232,058Net Income 2015: $13,0422015Revenue 2016: $1,146,280Expenses 2016: $610,318Net Income 2016: $535,9622016Revenue 2017: $1,506,944Expenses 2017: $1,111,201Net Income 2017: $395,7432017Revenue 2018: $1,440,566Expenses 2018: $1,198,715Net Income 2018: $241,8512018Revenue 2019: $1,434,591Expenses 2019: $1,351,290Net Income 2019: $83,3012019Revenue 2020: $1,199,952Expenses 2020: $1,379,426Net Income 2020: -$179,4742020Revenue 2021: $1,939,069Expenses 2021: $1,392,102Net Income 2021: $546,9672021Revenue 2022: $807,401Expenses 2022: $1,460,258Net Income 2022: -$652,8572022Revenue 2023: $1,843,681Expenses 2023: $1,531,850Net Income 2023: $311,8312023Revenue 2024: $1,481,895Expenses 2024: $1,623,102Net Income 2024: -$141,2072024

Highlighted filing

2018

Revenue$1,440,566
Expenses$1,198,715
Net Income$241,851
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 25, 2019
Return Version
2018v3.1
Gross Receipts
$1,440,566
Mission and Program Overview

Mission

The organization's mission is to train current or potential memphians for a variety of information technology jobs and work with employers to increase the memphis technology job base. Tech901 was founded to provide vocational awareness-building, assessment, recruitment, and training referral and job opening data services for a range of technology careers.

Tech901's mission is to train individuals for a variety of information technology jobs and to work with employers to increase the memphis technology job base.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$724,168$689,158▼ $35,010
Cash and Non-Interest-Bearing Accounts$242,657$512,314▲ $269,657
Accounts Receivable$2,750$0▼ $2,750
Total Assets$969,575$1,201,472▲ $231,897
Liabilities
Accounts Payable and Accrued Expenses$24,828$14,874▼ $9,954
Total Liabilities$24,828$14,874▼ $9,954
Net Assets / Fund Balance
Unrestricted Net Assets$904,782$1,146,633▲ $241,851
Temporarily Rstr Net Assets$39,965$39,965→ $0
Total Net Assets Fund Balance$944,747$1,186,598▲ $241,851
Total Liabilities and Net Assets / Fund Balance$969,575$1,201,472▲ $231,897

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$686,219$72,733$758,952
Other Land Buildings$2,939$66$3,005
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve DenegriCheif Operating OfficerFT$125,000$17,149$142,149
Robert MontagueExecutive DirectorFT$75,000$12,724$87,724

Board Members and Trustees

NameTitle
Tom MarinoPresident
Charles ElliotDirector
Jennifer KrouseDirector
David HarrisSecretary
David MontagueTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,363,094
Program Service Revenue
$77,472
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,363,094
Change in Net Assets
$241,851

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,440,566
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,440,566
Total Revenue per Form 990
$1,440,566
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$831,825
Other Expenses$366,890
Total Fundraising Expense$30,415
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$505,684--$505,684
Current Officers, Directors, Trustees, and Key Employees$167,500$16,250$16,250$200,000
Occupancy$93,411$24,910$6,227$124,548
Other Employee Benefits$65,453$2,188$2,188$69,829
Payroll Taxes$47,359$1,243$1,243$49,845
Office Expenses$26,493$13,540$1,178$41,211
Advertising$28,912$7,710$1,927$38,549
Depreciation Depletion$19,007$19,007-$38,014
Fees for Services Other$11,818$12,623-$24,441
Conferences and Meetings$17,948--$17,948
Pension Plan Contributions$6,141$163$163$6,467
Insurance$3,017-$201$3,218
Other Expenses$406$406$1,038$812
All Other Expenses$260--$260
Total Functional Expenses$1,054,795$113,505$30,415$1,198,715

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,198,715
Total Expenses per Audited Statements$1,198,715
Total Expenses per Form 990$1,198,715
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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 A, Line 2

“David montague, treasurer, and robert montague, executive director, are brothers and board members of tech901.”

Form 990, Part VI, Section B, Line 11B

“The return preparer provided a copy of the final version of form 990 to the board of directors for their review, consideration, comments and suggestions and final approval before the return was filed.”

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

“Directors and officers are required to update an annual conflict of interest statement as required by the adopted policy. The policy requires a board member to provide relevant information to the full board if the affected board member believes that a potential conflict has arisen with the potential conflict resolved by a vote of the full board exclusive of the member in question.”

Form 990, Part VI, Section B, Line 15

“The board of directors considered the compensation from other organizations in the memphis area in like positions and made a determination of the compensation for all employees.”

Form 990, Part VI, Section C, Line 19

“Tech901 has available for public inspection all required documents in a separate binder marked "open for public inspection and will provide the information for review upon request.”

Filing and Contact Details

Filer

Filer Name
Tech901
EIN
47-4244246
Phone
9018812677
Address
1350 CONCOURSE AVENUE STE 375, MEMPHIS, TN 38104

Signing Officer

Name
Steve Denegri
Title
Chief Operating Officer
Phone
9018812677
Signed
2019-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Denegri
Formed
2015
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
4
Employees
8
Volunteers
0

Preparer

Firm
Henderson Hutcherson & Mccullough Pllc
Address
1755 KIRBY PARKWAY SUITE 200, MEMPHIS, TN 38120
Preparer
Richard L Webb CPA
Phone
9016834234
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has not changed its oversight or selection process for the independent accountants.”

Financial Statement Notes

PART X, LINE 2:

“Tech901 follows the accounting guidance for uncertainty in income taxes using the provisions of fasb asc topic 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the position will be sustained upon examination by the tax authorities. The organization has concluded that there are no significant uncertain tax positions requiring disclosure and there are no material amounts of unrecognized tax benefits. The organization's evaluation was performed for tax years ended december 31, 2015 (initial year) through december 31, 2017, the years that remain subject to examination by major tax jurisdictions as of december 31, 2017.”

Raw XML AppendixShowing 400 of 405 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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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt072733
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0758952
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02939
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt066
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IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01440566
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TECH901 FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ASC TOPIC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. THE ORGANIZATION HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION'S EVALUATION WAS PERFORMED FOR TAX YEARS ENDED DECEMBER 31, 2015 (INITIAL YEAR) THROUGH DECEMBER 31, 2017, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF DECEMBER 31, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01198715
IRS990ScheduleD/TotalRevenuePerForm990Amt01440566
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAVID MONTAGUE, TREASURER, AND ROBERT MONTAGUE, EXECUTIVE DIRECTOR, ARE BROTHERS AND BOARD MEMBERS OF TECH901.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW, CONSIDERATION, COMMENTS AND SUGGESTIONS AND FINAL APPROVAL BEFORE THE RETURN WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS AND OFFICERS ARE REQUIRED TO UPDATE AN ANNUAL CONFLICT OF INTEREST STATEMENT AS REQUIRED BY THE ADOPTED POLICY. THE POLICY REQUIRES A BOARD MEMBER TO PROVIDE RELEVANT INFORMATION TO THE FULL BOARD IF THE AFFECTED BOARD MEMBER BELIEVES THAT A POTENTIAL CONFLICT HAS ARISEN WITH THE POTENTIAL CONFLICT RESOLVED BY A VOTE OF THE FULL BOARD EXCLUSIVE OF THE MEMBER IN QUESTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS CONSIDERED THE COMPENSATION FROM OTHER ORGANIZATIONS IN THE MEMPHIS AREA IN LIKE POSITIONS AND MADE A DETERMINATION OF THE COMPENSATION FOR ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TECH901 HAS AVAILABLE FOR PUBLIC INSPECTION ALL REQUIRED DOCUMENTS IN A SEPARATE BINDER MARKED "OPEN FOR PUBLIC INSPECTION AND WILL PROVIDE THE INFORMATION FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS FOR THE INDEPENDENT ACCOUNTANTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113505
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01054795
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IRS990/TotalVolunteersCnt00
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD L WEBB CPA

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,201,472
Liabilities
$14,874
Net assets
$1,186,598
Revenue
$1,440,566
Expenses
$1,198,715
Net income
$241,851
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.46$0.31$1.16$1.48$1.62$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.71$0.42$1.30$1.84$1.53$0.31
2022Detailed filing. Detailed filing data is available for this year.$1.50$0.51$0.98$0.81$1.46$0.65
2021Detailed filing. Detailed filing data is available for this year.$1.67$0.03$1.64$1.94$1.39$0.55
2020Detailed filing. Detailed filing data is available for this year.$1.28$0.19$1.09$1.20$1.38$0.18
2019Detailed filing. Detailed filing data is available for this year.$1.31$0.04$1.27$1.43$1.35$0.08
2018Detailed filing. Detailed filing data is available for this year.$1.20$0.01$1.19$1.44$1.20$0.24
2017Detailed filing. Detailed filing data is available for this year.$0.97$0.02$0.94$1.51$1.11$0.40
2016Detailed filing. Detailed filing data is available for this year.$0.86$0.31$0.55$1.15$0.61$0.54
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.01$0.25$0.23$0.01