CITEC INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1985

Legal Domicile

Principal Officer

GEORGE BOUYEA

Phone

3152683778

Tax Period

2024-01-01 to 2024-12-31

CITEC INC, founded in 1985, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2024. Expenses of $1.0M left a modest 5% surplus.

Mission

PROVIDING ASSISTANCE TO THE DEVELOPMENT AND GROWTH OF TECHNOLOGY BASED BUSINESSES THROUGH INTERNATIONAL TRADE, EDUCATIONAL RESOURCES, AND COMMUNICATION.

Program Service Accomplishments

Program 1

Expenses: $833,137 Revenue: $420,668

PROVIDING ASSISTANCE TO THE DEVELOPMENT AND GROWTH OF TECHNOLOGY BASED BUSINESSES THROUGH INTERNATIONAL TRADE, EDUCATIONAL RESOURCES, AND COMMUNICATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $649,000

Program Service Revenue $420,668

Investment Income $16,958

Other Revenue $0

TOTAL REVENUE $1,086,626

Expense Breakdown

Grants Paid $0

Salaries & Benefits $806,799

Fundraising Expenses $0

Program Expenses $833,137

Other Expenses $220,603

TOTAL EXPENSES $1,027,402

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,086,626	$1,011,613	+0.1%
Expenses	$1,027,402	$937,031	+0.1%
Net Income	$59,224	$74,582	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEORGE BOUYEA	PRESIDENT	3.00	Officer Director	$0	$0	$0
ANDREW MCMAHON	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
DANIEL VOTRAW	SECRETARY/TREASURER	3.00	Officer Director	$0	$0	$0
RONALD BACON	TRUSTEE	2.00	Director	$0	$0	$0
MANNA DOYLE	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN HUNT	TRUSTEE	2.00	Director	$0	$0	$0
JOHN CHATTERTON	TRUSTEE	2.00	Director	$0	$0	$0
WAYNE WHITE	TRUSTEE	2.00	Director	$0	$0	$0
EOWYN DOUD	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL BUSSE	TRUSTEE	2.00	Director	$0	$0	$0
SCOTT MCNULTY	TRUSTEE	2.00	Director	$0	$0	$0
STEVEN LOCKWOOD	EXECUTIVE DIRECTOR	40.00	Highest	$168,600	$0	$168,600
KATERINE CHEPELEFF	BUSINESS ADVISOR	40.00	Highest	$122,637	$0	$122,637
MILAGRO PETERS	ACCOUNTING OFFICER	40.00	Highest	$109,317	$0	$109,317

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$1,086,626	$1,027,402	$1,561,927	$59,224
2023	$1,011,613	$937,031	$1,504,680	$74,582
2022	$957,572	$857,187	$1,432,595	$100,385
2021	$1,072,988	$854,690	$1,292,929	$218,298
2020	$987,592	$968,827	$1,209,768	$18,765
2019	$1,091,195	$983,817	$1,048,234	$107,378
2018	$964,130	$1,006,623	$954,763	$-42,493