Civic Intelligence

Technology Review Inc.

990 • Fiscal year 2021 • EIN 95-4893200

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

196 Broadway 3rd FloorCambridge, MA 02139

(617) 475-8000

Siviq Scores

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

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

61st percentile

0.35x

Higher debt load relative to revenue than 61% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

22nd percentile

0.0%

Higher net margin than 22% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

96th percentile

$871,636

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

83rd percentile

31%

Faster asset growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

47th percentile

10%

Faster revenue growth than 47% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$6,822,000

Up $1,619,000 (+31%) from 2020

Net Assets

Flat

$0

Flat from 2020

Liabilities

Up

$6,822,000

Up $1,619,000 (+31%) from 2020

Revenue

Up

$19,424,000

Up $1,794,000 (+10%) from 2020

Expenses

Up

$19,424,000

Up $1,794,000 (+10%) from 2020

Net Income

Flat

$0

Flat from 2020

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50M-$100MAssets 2010: $1,559,000Liabilities 2010: $50,894,000Net Assets 2010: -$49,335,0002010Assets 2011: $1,364,000Liabilities 2011: $53,664,000Net Assets 2011: -$52,300,0002011Assets 2012: $700,000Liabilities 2012: $56,135,000Net Assets 2012: -$55,435,0002012Assets 2013: $620,000Liabilities 2013: $58,918,000Net Assets 2013: -$58,298,0002013Assets 2014: $237,000Liabilities 2014: $61,087,000Net Assets 2014: -$60,850,0002014Assets 2015: $779,000Liabilities 2015: $64,482,000Net Assets 2015: -$63,703,0002015Assets 2016: $1,340,000Liabilities 2016: $69,863,000Net Assets 2016: -$68,523,0002016Assets 2017: $211,000Liabilities 2017: $72,739,000Net Assets 2017: -$72,528,0002017Assets 2018: $1,165,000Liabilities 2018: $59,389,000Net Assets 2018: -$58,224,0002018Assets 2019: $4,703,000Liabilities 2019: $4,703,000Net Assets 2019: $02019Assets 2020: $5,203,000Liabilities 2020: $5,203,000Net Assets 2020: $02020Assets 2021: $6,822,000Liabilities 2021: $6,822,000Net Assets 2021: $02021Assets 2022: $8,455,000Liabilities 2022: $8,455,000Net Assets 2022: $02022Assets 2023: $7,305,000Liabilities 2023: $7,305,000Net Assets 2023: $02023Assets 2024: $6,499,000Liabilities 2024: $6,499,000Net Assets 2024: $02024

Highlighted filing

2021

Assets$6,822,000
Liabilities$6,822,000
Net Assets$0

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $9,551,0002010Expenses 2011: $9,849,0002011Expenses 2012: $10,242,0002012Revenue 2013: $7,694,000Expenses 2013: $10,557,000Net Income 2013: -$2,863,0002013Revenue 2014: $9,189,543Expenses 2014: $11,744,000Net Income 2014: -$2,554,4572014Revenue 2015: $8,019,000Expenses 2015: $10,872,000Net Income 2015: -$2,853,0002015Revenue 2016: $8,153,000Expenses 2016: $12,973,000Net Income 2016: -$4,820,0002016Revenue 2017: $13,560,000Expenses 2017: $16,843,000Net Income 2017: -$3,283,0002017Revenue 2018: $13,171,000Expenses 2018: $17,287,000Net Income 2018: -$4,116,0002018Revenue 2019: $17,603,000Expenses 2019: $17,678,000Net Income 2019: -$75,0002019Revenue 2020: $17,630,000Expenses 2020: $17,630,000Net Income 2020: $02020Revenue 2021: $19,424,000Expenses 2021: $19,424,000Net Income 2021: $02021Revenue 2022: $22,247,000Expenses 2022: $22,247,000Net Income 2022: $02022Revenue 2023: $22,894,000Expenses 2023: $22,894,000Net Income 2023: $02023Revenue 2024: $22,299,000Expenses 2024: $22,299,000Net Income 2024: $02024

Highlighted filing

2021

Revenue$19,424,000
Expenses$19,424,000
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.0
Gross Receipts
$19,424,000
Mission and Program Overview

Mission

Technology review and technologyreview.com strive to be the world's best sources for understanding emerging technologies and their social impacts. Like mit, we see technology as central to our cultural and economic well-being. Hence, we seek to inspire, educate, stimulate, illuminate, and, with a questioning but open mind, foster a sense of wonder and intrigue about the world around us.

Technology review's mission is to bring about better informed and more conscious decisions about technology through authoritative, influential, and trustworthy journalism.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$4,058,000$6,075,000▲ $2,017,000
Land, Buildings, and Equipment, Net$616,000$386,000▼ $230,000
Prepaid Expenses and Deferred Charges$485,000$316,000▼ $169,000
Cash and Non-Interest-Bearing Accounts$44,000$45,000▲ $1,000
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$5,203,000$6,822,000▲ $1,619,000
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$2,443,000$3,477,000▲ $1,034,000
Other Liabilities$869,000$1,709,000▲ $840,000
Deferred Revenue$1,891,000$1,636,000▼ $255,000
Total Liabilities$5,203,000$6,822,000▲ $1,619,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$5,203,000$6,822,000▲ $1,619,000

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$162,000$1,076,000$1,238,000
Equipment$18,000$533,000$551,000
Other Land Buildings$206,000$257,000$463,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-President, Publisher, and CEOFT$297,077$72,373$369,449
-Editor-In-ChiefFT$261,532$42,482$304,014
-Executive Director, Brand PartnershipsFT$154,488$125,302$279,790
-Senior VP of Marketing and Consumer RevenueFT$215,272$35,527$250,799
-Senior VP of Events and Strategic PartnershipsFT$177,053$55,791$232,843
-Editor-at-LargeFT$203,449$21,463$224,912
-VP of Sales and Brand PartnershipsFT$200,000$24,283$224,283
-Director, Brand PartnershipsFT$106,115$105,367$211,482
-TreasurerFT$114,126$41,627$155,753

Board Members and Trustees

NameTitle
-Chair
-Director
-Former Director, Special Projects
-Clerk

Highest Paid Contractors

ContractorServicesLocationCompensation
Rreef America Reit Ii CorpDistributions875 N Michigan Ave, Chicago, IL 60611-1803$856,511
Postlight LLCProfessional Services101 5th Avenue 10th FL, New York, NY 10003$469,399
Piano Software INCSoftware/Product DevelopmentONE WORLD TRADE CENTER STE 46D, New York, NY 10007$233,700
Wmbe Payrolling INC Dba TargetcwStaffing Services9475 CHESAPEAKE DR, San Diego, CA 92123-1336$228,471
Asendia USA INCShipping701C ASHLAND AVENUE BLDG 24ST3, Folcroft, PA 19032-2025$175,334
Revenue and Support

Revenue Composition

Contributions and Grants
$4,806,000
Program Service Revenue
$12,719,000
Investment Income
$0
Other Revenue
$1,899,000
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,369,000
Other Expenses$8,055,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,202,000$800,000-$8,002,000
Fees for Services Other$2,716,000$438,000$0$3,154,000
Office Expenses$1,472,000--$1,472,000
Current Officers, Directors, Trustees, and Key Employees$536,000$693,000-$1,229,000
Occupancy$1,216,000--$1,216,000
Information Technology$1,072,000--$1,072,000
Other Employee Benefits$919,000$102,000-$1,021,000
Payroll Taxes$518,000$58,000-$576,000
Pension Plan Contributions$487,000$54,000-$541,000
All Other Expenses$423,000$0$0$423,000
Advertising$338,000--$338,000
Depreciation Depletion$269,000--$269,000
Other Expenses$51,000--$51,000
Conferences and Meetings$30,000--$30,000
Travel$16,000--$16,000
Fees for Services Legal-$14,000-$14,000
Total Functional Expenses$17,265,000$2,159,000$0$19,424,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Subscriptions$1,737,000
Other Liabilities$-28,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2 Business Relationship

For fiscal year 2021, the following current officers/directors of Technology Review, Inc. were employed by the Massachusetts Institute of Technology, of which Glen Shor and Alan Spoon were officers and/or directors: Martin Schmidt, David Schmittlein, and Whitney Espich.

Form 990, Part VI, Line 6 Classes of members or stockholders

The massachusetts institute of technology is the sole member of technology review, inc.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY has the right to elect and appoint members of the governing body.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

In addition to the right to elect board members as described in response to line 7a, the sole member shall have such other powers reserved to the member by law, the articles of organization or the bylaws.

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

There are no such committees with authority to act on behalf of the governing body.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Technology review, inc.'s officer responsible for tax matters reviews the form 990 for accuracy and completeness.

Form 990, Part VI, Line 12C Conflict of interest policy

Technology review, inc. Follows applicable written policies and procedures of massachusetts institute of technology. Annual disclosure employees are required to annually acknowledge in writing that they are aware of the policy and identify any relationships or responsibilities that have the potential of producing conflicts of interest. Each year, disclosure forms are distributed to those covered by these policies. If a response reveals a conflict or potential conflict, such conflict is referred to the appropriate individual or body for consideration and management.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Technology Review, Inc. works closely with MIT's Compensation Office to ensure equitable compensation and follows MIT guidelines and processes in establishing compensation levels. The MIT Compensation Office obtains compensation data from various salary surveys to compare compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. Technology Review, Inc. contemporaneously documents all compensation decisions, which are reviewed and approved by the MIT Compensation Office.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

Technology Review, Inc. works closely with MIT's Compensation Office to ensure equitable compensation and follows MIT guidelines and processes in establishing compensation levels. The MIT Compensation Office obtains compensation data from various salary surveys to compare compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. Technology Review, Inc. contemporaneously documents all compensation decisions, which are reviewed and approved by the MIT Compensation Office.

Form 990, Part VI, Line 19 Required documents available to the public

Technology review, inc. Is a subsidiary of the massachusetts institute of technology (mit) and adheres to mit policies. The organization's conflict of interest policy and financial statements are available on mit's website http://web.mit.edu. The organization's governing documents are available upon request.

FORM 990, PART VI, Line 12C, 13, and 14 POLICIES AND PROCEDURES

All of technology review, inc.'s policies and procedures are established by mit, including policies on conflict of interest, whistleblower, and document retention and destruction.

Filing and Contact Details

Filer

Filer Name
Technology Review Inc
EIN
95-4893200
Phone
6174758000
Address
196 Broadway 3rd Floor, Cambridge, MA 02139

Signing Officer

Name
Enejda Xheblati
Title
Director of Finance
Signed
2022-05-12

Organization Details

Formed
2002
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
2
Employees
70
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Line 12B Consolidated Financial Statements

Technology review, inc. Is a subsidiary of the massachusetts institute of technology (mit). Technology review, inc.'s financial statements are prepared and audited on a consolidated basis with mit.

Form 990, Part IX, Line 11G Other Fees

MISCELLANEOUS PROFESSIONAL SERVICES - Total Expense: 3154000, Program Service Expense: 2716000, Management and General Expenses: 438000, Fundraising Expenses: ;

Form 990, Part XII, Line 2B Audit by Independent Accountant

The financial statements of technology review, inc. Are included in the consolidated financial statements of the massachusetts institute of technology (mit) and audited by an independent accountant. The mit audit committee assumes responsibility for oversight of the audit of the consolidated financial statements and selection of an independent accountant.

Form 990, Part V, Line 1A Statements Regarding Other IRS Filings and Tax Compliance

The massachusetts institute of technology provides procurement and payment services, including filing of forms 1099, for technology review according to the terms of a service agreement.

Form 990, Part V, Line 2A Statements Regarding Other IRS Filings and Tax Compliance

The massachusetts institute of technology files forms w-2 as an irc 3504 agent for technology review.

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

TECHNOLOGY REVIEW, INC. IS A SUBSIDIARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT). TECHNOLOGY REVIEW INC.'S FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS WITH MIT. US GAAP requires MIT to evaluate tax positions taken by the Institute to recognize a tax liability (or asset) if the Institute has taken an uncertain tax position that, more likely than not, would not be sustained upon examination by the IRS. MIT has analyzed the positions taken and has concluded that as of June 30, 2021, there are no significant uncertain positions taken or expected to be taken.

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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0Elizabeth Bramson-Boudreau
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt1Martin Schmidt
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2Alan Spoon
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3David Schmittlein
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt4Glen Shor
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt5Jerome Friedman
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6Whitney Espich
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7Enejda Xheblati
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8Peter Caruso
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9Amy Lammers
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10Andrew Hendler
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt11Doreen Adger
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt12Gideon Lichfield
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt13David Rotman
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt14Deborah Hanley
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt15Ian Keller
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt16Kristin Ingram
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt17Marii Sebahar
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt18Kathleen Kennedy
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President, Publisher, and CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt8Clerk
IRS990/Form990PartVIISectionAGrp/TitleTxt9Senior VP of Events and Strategic Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt10VP of Sales and Brand Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt11Senior VP of Marketing and Consumer Revenue
IRS990/Form990PartVIISectionAGrp/TitleTxt12Editor-In-Chief
IRS990/Form990PartVIISectionAGrp/TitleTxt13Editor-at-Large
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director, Brand Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director, Brand Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt16Executive Director, Brand Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt17Executive Director, Brand Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt18Former Director, Special Projects
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt02
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IRS990/InfoInScheduleOPartIXInd0X
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt0386000
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
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IRS990/MembersOrStockholdersInd0true
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IRS990/MissionDesc0TECHNOLOGY REVIEW'S MISSION IS TO BRING ABOUT BETTER INFORMED AND MORE CONSCIOUS DECISIONS ABOUT TECHNOLOGY THROUGH AUTHORITATIVE, INFLUENTIAL, AND TRUSTWORTHY JOURNALISM.
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IRS990/OtherLiabilitiesGrp/EOYAmt01709000
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0487000
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.50$6.50$0.00$22.3$22.3$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.31$7.31$0.00$22.9$22.9$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.46$8.46$0.00$22.2$22.2$0.00
2021Detailed filing. Detailed filing data is available for this year.$6.82$6.82$0.00$19.4$19.4$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.20$5.20$0.00$17.6$17.6$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.70$4.70$0.00$17.6$17.7$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$59.4$58.2$13.2$17.3$4.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$72.7$72.5$13.6$16.8$3.28
2016Detailed filing. Detailed filing data is available for this year.$1.34$69.9$68.5$8.15$13.0$4.82
2015Detailed filing. Detailed filing data is available for this year.$0.78$64.5$63.7$8.02$10.9$2.85
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$61.1$60.9$9.19$11.7$2.55
2013Summary only. Only limited summary data is available for this year.$0.62$58.9$58.3$7.69$10.6$2.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$56.1$55.4$10.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$53.7$52.3$9.85
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.56$50.9$49.3$9.55
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $10M-$25M nonprofits