TECH FREDERICK INC

EIN: 474589774 501(c)(3) Employment

MONROVIA, MD

Total Revenue
$341,979
Total Expenses
$402,362
Total Assets
$95,173
Net Assets
$87,726
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
MD
Principal Officer
JOSH YEAGER
Phone
4432778195
Tax Period
2024-01-01 to 2024-12-31

TECH FREDERICK INC, founded in 2016, is a small nonprofit in the Employment sector that reported $342K in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $402K exceeded revenue, resulting in a 18% operating deficit.

Mission

WE ARE DEDICATED TO UNITING TECHNOLOGY ENTHUSIASTS, PROFESSIONALS, AND ORGANIZATIONS THROUGH EDUCATION AND A SUPPORTIVE COMMUNITY. WE AIM TO FOSTER A DIVERSE AND INCLUSIVE ENVIRONMENT, ENSURING EVERYONE HAS AN OPPORTUNITY TO SUCCEED IN THE TECH AND INNOVATION SECTORS AND CONTRIBUTE TO OUR VIBRANT ECOSYSTEM.

Program Service Accomplishments

Program 1
Expenses: $214,572 Revenue: $8,237

ASPIRE TRAINING IS FREE (OR FOR A NOMINAL FEE) TO THE FREDERICK COUNTY TECH COMMUNITY, AS WELL AS THOSE WHO ASPIRE TO JOIN IT BY ADDING TECH SKILLS TO THEIR RESUMES, AND IS DESIGNED TO ENHANCE...

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ASPIRE TRAINING IS FREE (OR FOR A NOMINAL FEE) TO THE FREDERICK COUNTY TECH COMMUNITY, AS WELL AS THOSE WHO ASPIRE TO JOIN IT BY ADDING TECH SKILLS TO THEIR RESUMES, AND IS DESIGNED TO ENHANCE WORKFORCE SKILLS THROUGH ON-LINE OR IN-PERSON CLASSES. APPROXIMATELY 247 PEOPLE BENEFITTED FROM ASPIRE TRAINING.

Program 2
Expenses: $49,130 Revenue: $61,235

TECHFREDERICK GAMES IS AN ANNUAL EVENT DESIGNED TO PROVIDE AN OPPORTUNITY FOR LOCAL TECH BUSINESSES TO CONNECT AND HAVE FUN, WHILE RAISING AWARENESS OF TECHFREDERICK AND THE PARTICIPATING COMPANIES...

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TECHFREDERICK GAMES IS AN ANNUAL EVENT DESIGNED TO PROVIDE AN OPPORTUNITY FOR LOCAL TECH BUSINESSES TO CONNECT AND HAVE FUN, WHILE RAISING AWARENESS OF TECHFREDERICK AND THE PARTICIPATING COMPANIES. APPROXIMATELY 188 PEOPLE PARTICIPATED.

Program 3
Expenses: $17,739 Revenue: $22,155

TECHFREDERICK OFFERS VARIOUS NETWORKING EVENTS THAT FOCUS ON CONNECTING LOCAL INDUSTRY PROFESSIONALS WITH OTHER BUSINESS LEADERS. OUR EVENTS INCLUDE SALES AND MARKETING SPEAKER SESSIONS, ROUNDTABLE...

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TECHFREDERICK OFFERS VARIOUS NETWORKING EVENTS THAT FOCUS ON CONNECTING LOCAL INDUSTRY PROFESSIONALS WITH OTHER BUSINESS LEADERS. OUR EVENTS INCLUDE SALES AND MARKETING SPEAKER SESSIONS, ROUNDTABLE EVENTS, AND QUARTERLY NETWORKING BREAKFASTS. IN 2024, OUR SPEAKER SESSIONS AND BREAKFASTS FEATURED LOCAL AND NATIONAL SUBJECT MATTER EXPERTS WHO GAVE INFORMATIVE PRESENTATIONS ON TOPICS RELEVANT TO THE TECH COMMUNITY. TECHFREDERICK ALSO HOSTS IN-PERSON EVENING NETWORKING EVENTS THAT ARE HOSTED BY LOCAL TECH BUSINESSES TO FACILITATE NETWORKING AND CONNECTION OPPORTUNITIES. APPROXIMATELY 519 PEOPLE BENEFITTED FROM THE VARIOUS NETWORKING EVENTS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $247,993
Program Service Revenue $93,974
Investment Income $12
Other Revenue $0
TOTAL REVENUE $341,979

Expense Breakdown

Grants Paid $0
Salaries & Benefits $197,279
Fundraising Expenses $43,529
Program Expenses $283,024
Other Expenses $205,083
TOTAL EXPENSES $402,362

Year-over-Year Comparison

2024 2023 Change
Revenue $341,979 $422,762 -0.2%
Expenses $402,362 $401,723 +0.0%
Net Income $-60,383 $21,039 -3.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
7
Employees
2
Volunteers
110

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
5
$114,025
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSH YEAGER PRESIDENT 3.00
Officer Director
$0 $0 $0
JON-MIKEL BAILEY VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
JEFF GRIFFIN SECRETARY 3.00
Officer Director
$0 $0 $0
RYAN HARSHMAN TREASURER 3.00
Officer Director
$0 $0 $0
MARIA ROAT BOARD MEMBER 2.00
Director
$0 $0 $0
ANDRES MENDOZA BOARD MEMBER 2.00
Director
$0 $0 $0
MIKE BATTLE BOARD MEMBER 2.00
Director
$0 $0 $0
MEGHAN SWEIGART EXECUTIVE DIRECTOR 40.00
Officer
$87,986 $26,039 $114,025
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
2024 $341,979 $402,362 $95,173 $-60,383
2023 $422,762 $401,723 $149,009 $21,039
2022 $363,431 $326,891 $127,130 $36,540
2021 $190,275 $198,434 $90,590 $-8,159
2020 $359,193 $343,796 $98,689 $15,397
2019 $231,551 $227,302 $83,292 $4,249
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