Civic Intelligence

First Tech Fund Inc.

990 • Fiscal year 2024 • EIN 85-1137904

May 01, 2023 to Apr 30, 2024 • Filed on Sep 09, 2024

Organization Profilewww.firsttechfund.com
299 Van Buren StreetBrooklyn, NY 11221

(631) 361-1026

Siviq Scores

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

Liabilities / Assets

45th percentile

0.03x

Higher debt load relative to assets than 45% of similar nonprofits.

2024 filings • NTEE S • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

40th percentile

0.02x

Higher debt load relative to revenue than 40% of similar nonprofits.

2024 filings • NTEE S • $500k-$1M nonprofits • Source year 2024

Net Margin

76th percentile

24%

Higher net margin than 76% of similar nonprofits.

2024 filings • NTEE S • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

64th percentile

$77,252

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2024 filings • NTEE S • $500k-$1M nonprofits • Source year 2024

Asset Growth

91st percentile

61%

Faster asset growth than 91% of similar nonprofits.

2024 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

88th percentile

88%

Faster revenue growth than 88% of similar nonprofits.

2024 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$387,064

Up $147,261 (+61%) from 2023

Net Assets

Up

$375,088

Up $139,495 (+59%) from 2023

Liabilities

Up

$11,976

Up $7,766 (+184%) from 2023

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin76th percentile

Revenue

Up

$570,863

Up $267,151 (+88%) from 2023

Expenses

Up

$431,368

Up $249,586 (+137%) from 2023

Net Income

Up

$139,495

Up $17,565 (+14%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$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

2024

Assets$387,064
Liabilities$11,976
Net Assets$375,088
Open 2024 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income across loaded years, with this 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

2024

Revenue$570,863
Expenses$431,368
Net Income$139,495
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2023 to Apr 30, 2024
Signed
Sep 9, 2024
Return Version
2023v5.1
Gross Receipts
$589,459
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 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$156,945$321,229▲ $164,284
Inventories for Sale or Use$46,858$37,610▼ $9,248
Pledges and Grants Receivable$36,000$20,000▼ $16,000
Prepaid Expenses and Deferred Charges-$8,225-
Total Assets$239,803$387,064▲ $147,261
Liabilities
Accounts Payable and Accrued Expenses$4,210$11,976▲ $7,766
Total Liabilities$4,210$11,976▲ $7,766
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$235,593$345,088▲ $109,495
Net Assets With Donor Restrictions-$30,000-
Total Net Assets Fund Balance$235,593$375,088▲ $139,495
Total Liabilities and Net Assets / Fund Balance$239,803$387,064▲ $147,261
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Josue De PazPresidentPT$77,252$77,252

Board Members and Trustees

NameTitle
Jerome J SandersBoard Chair
Glickman ColonDirector
Hyobin SungDirector
Jamal AdamsDirector
Jamie CunninghamDirector
Monica SibriDirector
Nakia AlstonDirector
Rodney Pizarro-CruzDirector
Nicole Chin-LynCompliance Officer
Hana SeligmanSecretary
Alicia Baksh-OusmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$561,922
Program Service Revenue
$319
Investment Income
$0
Other Revenue
$8,622
All Other Contributions
$561,922
Change in Net Assets
$139,495

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table160$34,860
Total Noncash Contributions160$34,860

Audited Revenue Reconciliation

Revenue per Audited Statements
$570,863
Total Revenue per Audited Statements
$570,863
Total Revenue per Form 990
$570,863
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$269,835
Other Expenses$161,533
Total Fundraising Expense$8,764
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$135,757$33,939$0$169,696
Current Officers, Directors, Trustees, and Key Employees$54,077$15,450$7,725$77,252
Fees for Services Other$10,175$18,745$0$28,920
Payroll Taxes$16,123$4,188$628$20,939
Information Technology$14,979$1,914$0$16,893
Fees for Services Management$7,000$0$0$7,000
Conferences and Meetings$4,301$2,549$0$6,850
Office Expenses$1,386$4,187$0$5,573
Occupancy$2,027$3,009$0$5,036
Advertising$4,546$0$264$4,810
Travel$3,754$938$0$4,692
Other Expenses$2,984$195$0$3,179
All Other Expenses$1,132$1,187$0$2,319
Other Employee Benefits$1,558$390$0$1,948
Insurance$0$1,340$0$1,340
Interest$325$0$0$325
Total Functional Expenses$333,595$89,009$8,764$431,368

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$431,368
Total Expenses per Audited Statements$431,368
Total Expenses per Form 990$431,368
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$27,218
Fundraising Direct Expenses$18,596
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Soiree$27,218$27,218$2,729$24,489
Total Events$27,218$27,218$18,596$8,622
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
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
Filing and Contact Details

Filer

Filer Name
First Tech Fund Inc
EIN
85-1137904
Phone
6313611026
Address
299 Van Buren Street, Brooklyn, NY 11221

Signing Officer

Name
Hana Seligman
Title
Secretary
Phone
6313611026
Signed
2024-09-09

Organization Details

Principal Officer
Hana Seligman
Formed
2020
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
75
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Josue De Paz and Hana Seligman are married”

Pt 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.”

Pt VI, Line 15A

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

Pt VI, Line 15B

“Same as line 15a”

Pt VI, Line 11B

“A financial report is presented to the board at every annual meeting and the books are records are available.”

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IRS990/OtherExpensesGrp/TotalAmt33179
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt033939
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0135757
IRS990/OtherSalariesAndWagesGrp/TotalAmt0169696
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0628
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04188
IRS990/PayrollTaxesGrp/ProgramServicesAmt016123
IRS990/PayrollTaxesGrp/TotalAmt020939
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt036000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt020000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08225
IRS990/PrincipalOfficerNm0Hana Seligman
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Conference
IRS990/ProgramServiceRevenueGrp/ExclusionAmt0319
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0319
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgSrvcAccomActy2Grp/Desc0One Time Tech Request Program: We provide technology to high school and college students in need in the New York City community.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt00
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0Dual Impact Internship Program: We connect underrepresented college students with paid summer internships at startups led by underrepresented founders to promote economic mobility and diverse entrepreneurship
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt043517
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0298143
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt072183
IRS990/PYProgramServiceRevenueAmt05569
IRS990/PYRevenuesLessExpensesAmt0121930
IRS990/PYSalariesCompEmpBnftPaidAmt0109599
IRS990/PYTotalExpensesAmt0181782
IRS990/PYTotalRevenueAmt0303712
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0139495
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0540554
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0298143
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0167016
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt048852
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01054565
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt01054565
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0540554
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0298143
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0167016
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt048852
IRS990ScheduleA/Total509Grp/TotalAmt01054565
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01054565
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0431368
IRS990ScheduleD/RevenueSubtotalAmt0570863
IRS990ScheduleD/TotalExpensesPerForm990Amt0431368
IRS990ScheduleD/TotalRevenuePerForm990Amt0570863
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0570863
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0431368
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt018596
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt0500
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt0500
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Soiree
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt010747
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt010747
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt027218
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt027218
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt027218
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt027218
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt08622
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt02729
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02729
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt04620
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt04620
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt0160
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0Computer/Accessories
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt034860
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0The organization receives computers which are given to students and used for our one time tech request program and high school fellowship program.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt I col(b)
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Josue De Paz and Hana Seligman are married
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Every 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/ExplanationTxt2The board reviews the annual budget ahead of time and is asked to sign off on the compensation of all employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Same as line 15a
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A financial report is presented to the board at every annual meeting and the books are records are available.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 11b
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$387,064
Liabilities
$11,976
Net assets
$375,088
Revenue
$570,863
Expenses
$431,368
Net income
$139,495
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.90$0.08$1.81$2.68$4.62$1.94
2024Detailed filing. Detailed filing data is available for this year.$3.87$0.12$3.75$5.71$4.31$1.39
2023Detailed filing. Detailed filing data is available for this year.$2.40$0.04$2.36$3.04$1.82$1.22
2022Detailed filing. Detailed filing data is available for this year.$1.56$0.42$1.14$1.82$1.02$0.79
2021Detailed filing. Detailed filing data is available for this year.$0.39$0.05$0.34$0.47$0.13$0.34