SMART CITY WORKS INC

EIN: 820941868 501(c)(3) Community Improvement

ARLINGTON, VA

Total Revenue
$527,986
Total Expenses
$513,541
Total Assets
$158,415
Net Assets
$86,933
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
VA
Principal Officer
DAVID HEYMAN
Phone
9292762789
Tax Period
2023-01-01 to 2023-12-31

SMART CITY WORKS INC, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $528K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

TRANSFORM NORTHERN VIRGINIA AND THE GREATER WASHINGTON REGION INTO A GLOBAL URBAN INNOVATION HUB AND NATIONAL TESTBED FOR NEW DIGITAL SERVICES AND CAPABILITIES TO IMPROVE THE LIVABILITY, SUSTAINABILITY, HEALTH, AND RESILIENCE CITIES.

Program Service Accomplishments

Program 1
Expenses: $440,713

THE NORTHERN VIRGINIA SMART REGION INITIATIVE IS A THREE-YEAR INITIATIVE TO HELP FOSTER NOVA AS A WORLD-RENOWNED CENTER OF EXCELLENCE FOR URBAN TECHNOLOGY INNOVATION, AND DESTINATION FOR DIGITAL...

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THE NORTHERN VIRGINIA SMART REGION INITIATIVE IS A THREE-YEAR INITIATIVE TO HELP FOSTER NOVA AS A WORLD-RENOWNED CENTER OF EXCELLENCE FOR URBAN TECHNOLOGY INNOVATION, AND DESTINATION FOR DIGITAL TECHNOLOGY COMPANIES TO BUILD AND GROW THEIR BUSINESSES. THE INITIATIVE IS LED BY SMART CITY WORKS AND THROUGH A PUBLIC-PRIVATE PARTNERSHIP WITH UNIVERSITIES, PRIVATE SECTOR, AND GOVERNMENT, WE AIM TO FILL A MUCH-NEEDED GAP SUPPORTING TECHNOLOGY START-UPS AND SMES IN NORTHERN VIRGINIA, ACCELERATING THEIR GROWTH, AND CREATING COMMERCIALIZATION PATHWAYS TO SPUR SUSTAINED REGIONAL ECONOMIC GROWTH. AS COMPANIES GROW, THE REGION CREATES JOBS, ATTRACTS NEW TALENT, CATALYZES INNOVATION, AND HELPS ADVANCE NOVA AS A MAGNET REGION FOR DIGITAL INNOVATION, JOB OPPORTUNITIES, AND CUTTING-EDGE URBAN TECHNOLOGIES. CURRENT PROGRAM OFFERINGS INCLUDE: 1) SOURCING NEW AND EMERGING TECHNOLOGIES TO SOLVE KEY URBAN CHALLENGES; 2) FOSTERING GROWTH AND EDUCATION OF TECH STARTUPS THROUGH MENTORING AND BUSINESS ACCELERATION PROGRAMS; 3) DEVELOPING AND RUNNING REGIONAL TEST BEDS AND LIVING LABORATORIES TO SUPPORT VALIDATION PILOT PROJECTS; 4) DESIGNING AND RUNNING INNOVATION CHALLENGE PROGRAMS FOCUSED ON IDENTIFYING, SOURCING, AND SELECTING NEW AND EMERGING TECHNOLOGIES TO SOLVE OR OTHERWISE SUPPORT LOCAL GOVERNMENT OR COMMUNITY GOALS; AND 5) PROMOTE AND SUSTAIN INNOVATION, ENTREPRENEURSHIP, COMMERCIALIZATION, AND ECONOMIC DEVELOPMENT THROUGH THOUGHT LEADERSHIP, NETWORKING, AND OTHER EDUCATIONAL EVENTS THAT FOSTER OF A REGIONAL INNOVATION CLUSTER.

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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 (2023)

Revenue Breakdown

Contributions & Grants $523,302
Program Service Revenue $4,684
Investment Income $0
Other Revenue $0
TOTAL REVENUE $527,986

Expense Breakdown

Grants Paid $0
Salaries & Benefits $195,191
Fundraising Expenses $0
Program Expenses $440,713
Other Expenses $318,350
TOTAL EXPENSES $513,541

Year-over-Year Comparison

2023 2022 Change
Revenue $527,986 $585,530 -0.1%
Expenses $513,541 $568,707 -0.1%
Net Income $14,445 $16,823 -0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
1
Volunteers
6

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
4
$184,876
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID HEYMAN CHAIRPERSON 4.00
Officer Director
$0 $0 $0
GREG SAUTER VICE CHAIRPERSON 4.00
Officer Director
$0 $0 $0
SOL GLASNER BOARD MEMBER 2.00
Director
$0 $0 $0
ANNE KHADEMIAN BOARD MEMBER 2.00
Director
$0 $0 $0
AVI HALPERT BOARD MEMBER 2.00
Director
$0 $0 $0
NICOLE LEVINE BOARD MEMBER 2.00
Director
$0 $0 $0
CAROLA MANDELABUM EXECUTIVE DIRECTOR (THRU 9/2023) 40.00
Officer
$134,152 $3,128 $137,280
DEBORA SCHANTZ-HISCOTT EXECUTIVE DIRECTOR (EFFECTIVE 9/2023) 40.00
Officer
$47,596 $0 $47,596
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 No data No data No data No data
2023 $527,986 $513,541 $158,415 $14,445
2022 $585,530 $568,707 $166,777 $16,823
2021 $354,565 $354,761 $180,590 $-196
2020 $300,325 $257,017 $75,867 $43,308
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