Civic Intelligence

Tech901

990 • Fiscal year 2023 • EIN 47-4244246

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 12, 2024

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

71st percentile

0.24x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.23x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

71st percentile

17%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

81st percentile

$140,253

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 7.6% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

70th percentile

14%

Faster asset growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

128%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,713,109

Up $215,903 (+14%) from 2022

Net Assets

Up

$1,296,366

Up $311,831 (+32%) from 2022

Liabilities

Down

$416,743

Down $95,928 (-19%) from 2022

Revenue

Up

$1,843,681

Up $1,036,280 (+128%) from 2022

Expenses

Up

$1,531,850

Up $71,592 (+4.9%) from 2022

Net Income

Up

$311,831

Up $964,688 (+148%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$1,713,109
Liabilities$416,743
Net Assets$1,296,366

Operations Trend

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

2023

Revenue$1,843,681
Expenses$1,531,850
Net Income$311,831
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 12, 2024
Return Version
2023v5.1
Gross Receipts
$1,843,681
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
Cash and Non-Interest-Bearing Accounts$364,783$729,137▲ $364,354
Land, Buildings, and Equipment, Net$571,406$536,263▼ $35,143
Pledges and Grants Receivable$75,497$75,497→ $0
Prepaid Expenses and Deferred Charges-$1,419-
Total Assets$1,497,206$1,713,109▲ $215,903
Other Assets Total$485,520$370,793▼ $114,727
Liabilities
Other Liabilities$490,446$368,070▼ $122,376
Deferred Revenue$13,859$35,819▲ $21,960
Accounts Payable and Accrued Expenses$8,366$12,854▲ $4,488
Total Liabilities$512,671$416,743▼ $95,928
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$909,038$1,220,869▲ $311,831
Net Assets With Donor Restrictions$75,497$75,497→ $0
Total Net Assets Fund Balance$984,535$1,296,366▲ $311,831
Total Liabilities and Net Assets / Fund Balance$1,497,206$1,713,109▲ $215,903

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$498,630$263,328$761,958
Equipment$37,633$32,324$69,957
Other Assets Org$370,793--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve DenegriChief Operating OfficerFT$132,503$7,750$140,253
Jennifer L CarmichaelDirector of MarketingFT$115,355$3,600$118,955
Robert MontagueExecutive DirectorFT$97,152$7,200$104,352
Aaron LameyExecutive DirectorFT$59,293-$59,293

Board Members and Trustees

NameTitle
Tom MarinoPresident
Charles ElliottDirector
Jennifer KrouseDirector
Michelle EppsDirector
David HarrisSecretary
David MontagueTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Crosstown Building Owner LLCLandlord1350 CONCOURSE AVE 144, Memphis, TN 38104$136,978
Revenue and Support

Revenue Composition

Contributions and Grants
$1,764,595
Program Service Revenue
$79,086
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,264,595
Change in Net Assets
$311,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,843,681
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,843,681
Total Revenue per Form 990
$1,843,681
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,017,811
Other Expenses$514,039
Total Fundraising Expense$36,199
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$555,975--$555,975
Current Officers, Directors, Trustees, and Key Employees$250,462$19,243$19,243$288,948
Occupancy$93,882$50,094$6,259$150,235
Other Employee Benefits$103,394$2,719$2,719$108,832
Advertising$58,366$15,591$3,898$77,855
Fees for Services Lobbying$61,500--$61,500
Payroll Taxes$53,910$1,472$1,472$56,854
Fees for Services Other$3,076$53,768-$56,844
Depreciation Depletion$24,062$24,063-$48,125
Office Expenses$5,664$7,078$856$13,598
Insurance$8,426$1,436$359$10,221
Pension Plan Contributions$6,818$192$192$7,202
Other Expenses$1,331$3,746$1,201$3,746
Conferences and Meetings$3,292--$3,292
All Other Expenses$114$834-$948
Total Functional Expenses$1,310,608$185,043$36,199$1,531,850

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,531,850
Total Expenses per Audited Statements$1,531,850
Total Expenses per Form 990$1,531,850
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Long Term Liability$249,718
Right of Use Short Term Liability$118,352
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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 A, Line 2

David montague, treasurer and board member of tech901 and robert montague, executive director of tech901, are brothers.

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.

Form 990, Part VII, Column A, (3)

Robert montague was executive director of tech901 and retired in august 2023. Accordingly, robert montague and the current executive director, aaaron lamey, are listed as officers in accordance with the forms instructions disclosing offciers and directors

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
2024-07-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Denegri
Formed
2015
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
5
Employees
9
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:

Although the organization does not have a separate committee that provides oversight of the audit process, the full board reviews and approves the audit report before it is issued. The organization has not changed its 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, 2019 through december 31, 2022, the years that remain subject to examination by major tax jurisdictions as of december 31, 2022.

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IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0STEVE DENEGRI
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IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0TECH901 CONTRACTED THE STONE RIVER GROUP, LLC, A PUBLIC-AFFAIRS FIRM, TO HELP WITH GOVERNMENT RELATIONS REGARDING FUTURE STATE LEGISLATION THAT COULD POSITIVELY AFFECT TECH901'S AND SIMILLAR ORGANIZATION'S EDUCATIONAL PROGRAMS.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE C, PART II-A, LINE 1B:
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IRS990ScheduleC/TotalLobbyingExpendGrp/FilingOrganizationsTotalAmt061500
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSETS-OPERATING LEASE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RIGHT OF USE SHORT TERM LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RIGHT OF USE LONG TERM LIABILITY
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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, 2019 THROUGH DECEMBER 31, 2022, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF DECEMBER 31, 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0370793
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAVID MONTAGUE, TREASURER AND BOARD MEMBER OF TECH901 AND ROBERT MONTAGUE, EXECUTIVE DIRECTOR OF TECH901, ARE BROTHERS.
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/ExplanationTxt5ROBERT MONTAGUE WAS EXECUTIVE DIRECTOR OF TECH901 AND RETIRED IN AUGUST 2023. ACCORDINGLY, ROBERT MONTAGUE AND THE CURRENT EXECUTIVE DIRECTOR, AAARON LAMEY, ARE LISTED AS OFFICERS IN ACCORDANCE WITH THE FORMS INSTRUCTIONS DISCLOSING OFFCIERS AND DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALTHOUGH THE ORGANIZATION DOES NOT HAVE A SEPARATE COMMITTEE THAT PROVIDES OVERSIGHT OF THE AUDIT PROCESS, THE FULL BOARD REVIEWS AND APPROVES THE AUDIT REPORT BEFORE IT IS ISSUED. THE ORGANIZATION HAS NOT CHANGED ITS 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 VII, COLUMN A, (3)

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