Civic Intelligence

First Tech Fund Inc

EIN 85-1137904 • 501(c)3 • Brooklyn, NY

Profile

First Tech Fund is dedicated to empowering low-income high school students in New York City in identifying, navigating and attaining academic and professional opportunties through a supportive, adaptive ecosystem where students get access to free tech, free broadband, skills training, social capital, mentorship and more.

299 Van Buren Street Apt 2ABrooklyn, NY 11221

www.firsttechfund.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

74th percentile

0.04x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

75th percentile

0.03x

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

501(c)3 • <$500k nonprofits • Source year 2025

Net Margin

11th percentile

-72%

Higher net margin than 11% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

64th percentile

6.8%

Faster asset growth than 64% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2025

Revenue Growth

67th percentile

14%

Faster revenue growth than 67% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2025

Assets

Down

$189,588

Down $197,476 (-51%) from 2024

Liabilities

Down

$8,172

Down $3,804 (-32%) from 2024

Net Assets

Down

$181,416

Down $193,672 (-52%) from 2024

Revenue

Down

$268,303

Down $302,560 (-53%) from 2024

Expenses

Up

$461,975

Up $30,607 (+7.1%) from 2024

Net Income

Down

-$193,672

Down $333,167 (-239%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2021: $39,375Liabilities 2021: $5,000Net Assets 2021: $34,3752021Assets 2022: $155,513Liabilities 2022: $41,850Net Assets 2022: $113,6632022Assets 2023: $239,803Liabilities 2023: $4,210Net Assets 2023: $235,5932023Assets 2024: $387,064Liabilities 2024: $11,976Net Assets 2024: $375,0882024Assets 2025: $189,588Liabilities 2025: $8,172Net Assets 2025: $181,4162025

Highlighted filing

2025

Assets$189,588
Liabilities$8,172
Net Assets$181,416

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2021: $47,364Expenses 2021: $12,989Net Income 2021: $34,3752021Revenue 2022: $181,667Expenses 2022: $102,379Net Income 2022: $79,2882022Revenue 2023: $303,712Expenses 2023: $181,782Net Income 2023: $121,9302023Revenue 2024: $570,863Expenses 2024: $431,368Net Income 2024: $139,4952024Revenue 2025: $268,303Expenses 2025: $461,975Net Income 2025: -$193,6722025

Highlighted filing

2025

Revenue$268,303
Expenses$461,975
Net Income-$193,672

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
May 1, 2024 to Apr 30, 2025
Signed
Sep 11, 2025
Return Version
2024v5.0
Gross Receipts
$271,504
Mission and Program Overview

Mission

First Tech Fund is dedicated to closing the digital divide by providing low income and underserved communities in New York City with technology, practical skills and opportunities to succeed in 21st century careers.

First tech fund empowers low-income high school students in new york city to thrive academically and professionally by offering free technology, reliable internet access, targeted digital skills training, dedicated mentorship, and opportunities to build social capital. Through a holistic support system, the organization equips youth from underserved backgrounds to navigate and attain meaningful educational and career pathways, seeking to close the digital divide and promote lifelong success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$321,229$180,812▼ $140,417
Pledges and Grants Receivable$20,000--
Inventories for Sale or Use$37,610$6,040▼ $31,570
Prepaid Expenses and Deferred Charges$8,225$2,736▼ $5,489
Total Assets$387,064$189,588▼ $197,476
Liabilities
Accounts Payable and Accrued Expenses$11,976$8,172▼ $3,804
Total Liabilities$11,976$8,172▼ $3,804
Net Assets / Fund Balance
Net Assets With Donor Restrictions$30,000$95,000▲ $65,000
Net Assets Without Donor Restrictions$345,088$86,416▼ $258,672
Total Net Assets Fund Balance$375,088$181,416▼ $193,672
Total Liabilities and Net Assets / Fund Balance$387,064$189,588▼ $197,476
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Josue De PazPresidentPT$90,625$90,625

Board Members and Trustees

NameTitle
Jerome J SandersBoard Chair
Emilie HsiehDirector
Glickman ColonDirector
Hyobin SungDirector
Jackie MallonDirector
Jamal AdamsDirector
Jamie CunninghamDirector
Monica SibriDirector
Olivia FoworaDirector
Natasha UbaldoCompliance O
Hana SeligmanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$251,045
Program Service Revenue
$12,600
Investment Income
$0
Other Revenue
$4,658
All Other Contributions
$251,045
Change in Net Assets
$-193,672
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$283,042
Other Expenses$178,933
Total Fundraising Expense$2,369
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$121,187$30,297-$151,484
Current Officers, Directors, Trustees, and Key Employees$70,687$18,125$1,813$90,625
Information Technology$22,511$1,305-$23,816
Payroll Taxes$16,314$4,117$154$20,585
Other Employee Benefits$16,278$4,070-$20,348
Occupancy$2,432$8,751-$11,183
All Other Expenses$4,094$2,048$170$6,312
Other Expenses$5,335$1,155$43$5,335
Fees for Services Accounting-$3,950-$3,950
Travel$2,402$601-$3,003
Advertising$1,074$869$189$2,132
Conferences and Meetings-$1,908-$1,908
Insurance-$1,673-$1,673
Fees for Services Legal-$1,100-$1,100
Office Expenses$137$315-$452
Fees for Services Other-$400-$400
Total Functional Expenses$378,922$80,684$2,369$461,975
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,859
Fundraising Direct Expenses$3,201
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
Audit committee
No
Backup withholding compliance
No
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, Page 6, Part VI, Line 2

Josue de paz hana seligman president secretary married

Form 990, Page 6, Part VI, Line 11B

Board members review the tax return prior to signing

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

Every new board member is asked to review and sign the conflict of interest policy. If a board member changes their job, a discussion of potential conflicts follows.

Form 990, Page 6, Part VI, Line 15A

The board reviews the annual budget ahead of time and is asked to sign off on the compensation of all employees.

Form 990, Page 6, Part VI, Line 15B

The board reviews the annual budget ahead of time and is asked to sign off on the compensation of all employees.

Form 990, Page 6, Part VI, Line 19

These documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
First Tech Fund Inc
EIN
85-1137904
Phone
6313611026
Address
299 VAN BUREN STREET APT 2A, BROOKLYN, NY 11221

Signing Officer

Name
Josue De Paz
Title
President
Phone
6313611026
Signed
2025-09-11

Organization Details

Principal Officer
Josue De Paz
Formed
2020
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
7
Volunteers
75

Preparer

Firm
Kumlander Donofrio Hay & Pehl Cpas Llp
Address
2715 ROUTE 9 STE 101, MALTA, NY 12020
Preparer
Kenneth E Hay CPA
Phone
5188995544
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

First tech fund empowers low-income high school students in new york city to thrive academically and professionally by offering free technology, reliable internet access, targeted digital skills training, dedicated mentorship, and opportunities to build social capital. Through a holistic support system, the organization equips youth from underserved backgrounds to navigate and attain meaningful educational and career pathways, seeking to close the digital divide and promote lifelong success.

Form 990, Page 2, Part III, Line 4A

The organizations principal program is a year-long fellowship for low- income high school students, providing participants with free technology (laptops and wifi hotspots), targeted digital and career skills training, individual mentorship, and access to social capital and networking opportunities. The programs goal is to equip students from underserved backgrounds with the tools and guidance necessary to succeed in college and the workforce, while addressing inequities in technology access and educational opportunity in new york city. As an extension of the fellowship, the dual impact internship program places fellowship alumni college students in eight-week internships with companies led by underrepresented or women founders, building workforce experience and industry connections. Throughout the internship, enrolled individuals may receive a scholarship through the program. Together, these programs address educational inequities and provide continued support for academic, professional, and economic opportunity for underserved youth in new york city.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FIRST TECH FUND EMPOWERS LOW-INCOME HIGH SCHOOL STUDENTS IN NEW YORK CITY TO THRIVE ACADEMICALLY AND PROFESSIONALLY BY OFFERING FREE TECHNOLOGY, RELIABLE INTERNET ACCESS, TARGETED DIGITAL SKILLS TRAINING, DEDICATED MENTORSHIP, AND OPPORTUNITIES TO BUILD SOCIAL CAPITAL. THROUGH A HOLISTIC SUPPORT SYSTEM, THE ORGANIZATION EQUIPS YOUTH FROM UNDERSERVED BACKGROUNDS TO NAVIGATE AND ATTAIN MEANINGFUL EDUCATIONAL AND CAREER PATHWAYS, SEEKING TO CLOSE THE DIGITAL DIVIDE AND PROMOTE LIFELONG SUCCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATIONS PRINCIPAL PROGRAM IS A YEAR-LONG FELLOWSHIP FOR LOW- INCOME HIGH SCHOOL STUDENTS, PROVIDING PARTICIPANTS WITH FREE TECHNOLOGY (LAPTOPS AND WIFI HOTSPOTS), TARGETED DIGITAL AND CAREER SKILLS TRAINING, INDIVIDUAL MENTORSHIP, AND ACCESS TO SOCIAL CAPITAL AND NETWORKING OPPORTUNITIES. THE PROGRAMS GOAL IS TO EQUIP STUDENTS FROM UNDERSERVED BACKGROUNDS WITH THE TOOLS AND GUIDANCE NECESSARY TO SUCCEED IN COLLEGE AND THE WORKFORCE, WHILE ADDRESSING INEQUITIES IN TECHNOLOGY ACCESS AND EDUCATIONAL OPPORTUNITY IN NEW YORK CITY. AS AN EXTENSION OF THE FELLOWSHIP, THE DUAL IMPACT INTERNSHIP PROGRAM PLACES FELLOWSHIP ALUMNI COLLEGE STUDENTS IN EIGHT-WEEK INTERNSHIPS WITH COMPANIES LED BY UNDERREPRESENTED OR WOMEN FOUNDERS, BUILDING WORKFORCE EXPERIENCE AND INDUSTRY CONNECTIONS. THROUGHOUT THE INTERNSHIP, ENROLLED INDIVIDUALS MAY RECEIVE A SCHOLARSHIP THROUGH THE PROGRAM. TOGETHER, THESE PROGRAMS ADDRESS EDUCATIONAL INEQUITIES AND PROVIDE CONTINUED SUPPORT FOR ACADEMIC, PROFESSIONAL, AND ECONOMIC OPPORTUNITY FOR UNDERSERVED YOUTH IN NEW YORK CITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2JOSUE DE PAZ HANA SELIGMAN PRESIDENT SECRETARY MARRIED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS REVIEW THE TAX RETURN PRIOR TO SIGNING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EVERY NEW BOARD MEMBER IS ASKED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY. IF A BOARD MEMBER CHANGES THEIR JOB, A DISCUSSION OF POTENTIAL CONFLICTS FOLLOWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD REVIEWS THE ANNUAL BUDGET AHEAD OF TIME AND IS ASKED TO SIGN OFF ON THE COMPENSATION OF ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD REVIEWS THE ANNUAL BUDGET AHEAD OF TIME AND IS ASKED TO SIGN OFF ON THE COMPENSATION OF ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THESE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSUE DE PAZ
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-11
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