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TO PROVIDE A NURTURING AND SUPPORTIVE ENVIRONMENT TO START-UP TECHNOLOGY-BASED BUSINESSES.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$7.8M
Program Spending
81%
of total expenses go to program services
Total Contributions
$7M
Total Expenses
▼$1.8M
Total Assets
$11M
Total Liabilities
▼$3.9M
Net Assets
$7.1M
Officer Compensation
→$141.2K
Other Salaries
$217.6K
Investment Income
$140
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$6.2M
Awards Found
5
Department of Commerce
$4.6M
THIS EDA INVESTMENT SUPPORTS FREDERICK INNOVATIVE TECHNOLOGY CENTER, INC. WITH MAKING BUILDING RENOVATIONS TO SUPPORT A SCIENCE BUSINESS INCUBATOR IN FREDERICK, MARYLAND. THE PROJECT WILL CONSTRUCT LABORATORY AND OFFICE SPACE TO ASSIST SMALL, TECH-BASED BUSINESSES AS THEY WORK TO GROW AND CREATE NEW JOBS AND ECONOMIC OPPORTUNITIES. ONCE COMPLETED, THE PROJECT WILL ATTRACT NEW INDUSTRIES, CREATE JOBS, INCREASE GLOBAL COMPETITIVENESS, AND PROMOTE ECONOMIC RESILIENCY THROUGHOUT THE REGION.
Small Business Administration
$1M
FREDERICK INNOVATIVE TECHNOLOGY CENTER INC - FY23 CONGRESSIONAL COMMUNITY PROJECT FUNDING
Department of Housing and Urban Development
$500K
PURPOSE: ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING/CONGRESSIONAL DIRECTED SPENDING AWARDS ARE AUTHORIZED UNDER THE CONSOLIDATED APPROPRIATIONS ACT, 2022 PUBLIC LAW 117-328 AND THE EXPLANATORY STATEMENT FOR DIVISION L OF THAT ACT. PROJECTS SELECTED FOR COMMUNITY PROJECT FUNDING/CONGRESSIONAL DIRECTED SPENDING ARE LISTED IN THE JOINT EXPLANATORY STATEMENT (JES) THAT ACCOMPANIES A SPECIFIC FISCAL YEAR’S APPROPRIATIONS ACT OR CONGRESSIONAL RECORD. THE JES LISTS PROJECT, RECIPIENT, STATE, AMOUNT AND CONGRESSIONAL SPONSOR.; ACTIVITIES TO BE PERFORMED: ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING/CONGRESSIONALLY DIRECTED SPENDING AWARD PROJECTS INCLUDE A WIDE VARIETY OF ACTIVITIES THAT RESULT IN ECONOMIC DEVELOPMENT OR COMMUNITY DEVELOPMENT OUTCOMES. HUD WILL NOT KNOW THE FULL SCOPE OF THE PROJECT UNTIL THE RECIPIENT SUBMITS THE REQUIRED PROJECT NARRATIVE AND CONFIRMS ALIGNMENT WITH THE LANGUAGE AS PROVIDED IN THE CONGRESSIONAL RECORD. TO FIND THE DETAILS OF THE GRANT AWARD AS WRITTEN WITHIN THE CONGRESSIONAL RECORD USE THE FOLLOWING LINK AND PATH SELECTIONS TO GET TO THE DESCRIPTION OF THE ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING GRANTS HTTPS://WWW.HUD.GOV/PROGRAM_OFFICES/COMM_PLANNING/EDI-GRANTS, SELECT THE FISCAL YEAR OF INTEREST, SCROLL DOWN TO PROGRAM LAWS AND REGULATIONS, UNDER FISCAL YEAR 20XX CONSOLIDATED APPROPRIATIONS ACT, 20XX: CONGRESSIONAL RECORD (JOINT EXPLANATORY STATEMENT).; EXPECTED OUTCOMES: COMPLETION OF THE PROJECT AS DESCRIBED IN THE JOINT EXPLANATORY STATEMENT (JES) PROJECT DESCRIPTION AND SUBSEQUENT APPROVED PROJECT NARRATIVE.; INTENDED BENEFICIARIES: THE PROJECT BENEFICIARIES ARE THE INDIVIDUALS AND/OR ORGANIZATIONS THAT ARE AWARDED GRANT FUNDS OR SERVED BY THE ENTITIES THAT ARE AWARDED GRANT FUNDS AS IDENTIFIED IN THE JES RECIPIENT OR PROJECT DESCRIPTION SECTIONS.; SUBRECIPIENT ACTIVITIES: THE SUBRECIPIENT ACTIVITIES ARE UNKNOWN AT THE TIME OF AWARD.
Department of Agriculture
$96K
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Department of Agriculture
$0
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
1
Clean Audits
0
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2024 | Material Weakness | Unmodified (Clean) | $5.7M | No | 2025-09-20 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.7M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $7.8M | $7M | $1.8M | $11M | $7.1M |
| 2022IRS e-File | $1.6M | $963.8K | $1.1M | $2.9M | $838.2K |
| 2021 | $1M | $515.6K | $728.3K | $806.2K | $549.5K |
| 2020 | $667.6K |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Kathie Callahan Brady | President/ceo | 57.7 | $150K | $0 | $0 | $150K |
| Theresa Bethune | Member | 0.7 | $0 | $0 | $0 | $0 |
| Patrick Wheeler | Chairman | 1 | $0 | $0 | $0 | $0 |
Kathie Callahan Brady
President/ceo
$150K
Hrs/Wk
57.7
Compensation
$150K
Related Orgs
$0
Other
$0
Theresa Bethune
Member
$0
Hrs/Wk
0.7
Compensation
$0
Related Orgs
$0
Other
$0
Patrick Wheeler
Chairman
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Andres Mendoza | Vice Chairman | 0.8 | $0 | $0 | $0 | $0 |
| Anne Balduzzi | Member | 0.9 | $0 | $0 | $0 | $0 |
| David Palank | Member | 0.4 | $0 | $0 | $0 | $0 |
| Jeanne O'Connell | Member | 0.6 | $0 | $0 | $0 | $0 |
| Jodie Bollinger | Member | 0.3 | $0 | $0 | $0 | $0 |
| John Molnar | Member | 0.5 |
Andres Mendoza
Vice Chairman
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Anne Balduzzi
Member
$0
Hrs/Wk
0.9
Compensation
$0
Related Orgs
$0
Other
$0
David Palank
Member
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
| $283.5K |
| $722.7K |
| $696.2K |
| $273.1K |
| 2019 | $765K | $310.2K | $875.7K | $675.4K | $328.2K |
| 2018 | $531.6K | $79.9K | $533.9K | $509.6K | $438.8K |
| 2017 | $787.2K | $335.8K | $623.7K | $514.6K | $441.1K |
| 2016 | $413.1K | $107.8K | $397.4K | $314.1K | $277.6K |
| 2015 | $407.7K | $104.5K | $480.5K | $317.6K | $253.9K |
| 2014 | $391K | $94.5K | $439K | $407.1K | $326.7K |
| 2013 | $291K | $66K | $637.7K | $474.5K | $354.8K |
| 2012 | $582K | $97.5K | $718.6K | $725.1K | $676.6K |
| 2011 | $553K | $184.7K | $665.9K | $876.6K | $768.4K |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990-EZ | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| $0 |
| $0 |
| $0 |
| $0 |
| Jon Rowley | Member | 0.6 | $0 | $0 | $0 | $0 |
| Mei Sun | Member | 0.6 | $0 | $0 | $0 | $0 |
| Richard Griffin | Member | 0.4 | $0 | $0 | $0 | $0 |
| Sean Walker | Treasurer/secretary | 0.4 | $0 | $0 | $0 | $0 |
| Tien Wong | Member | 0.7 | $0 | $0 | $0 | $0 |
| Veleka Peeples - Dyer | Member | 0.5 | $0 | $0 | $0 | $0 |
Jeanne O'Connell
Member
$0
Hrs/Wk
0.6
Compensation
$0
Related Orgs
$0
Other
$0
Jodie Bollinger
Member
$0
Hrs/Wk
0.3
Compensation
$0
Related Orgs
$0
Other
$0
John Molnar
Member
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Jon Rowley
Member
$0
Hrs/Wk
0.6
Compensation
$0
Related Orgs
$0
Other
$0
Mei Sun
Member
$0
Hrs/Wk
0.6
Compensation
$0
Related Orgs
$0
Other
$0
Richard Griffin
Member
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Sean Walker
Treasurer/secretary
$0
Hrs/Wk
0.4
Compensation
$0
Related Orgs
$0
Other
$0
Tien Wong
Member
$0
Hrs/Wk
0.7
Compensation
$0
Related Orgs
$0
Other
$0
Veleka Peeples - Dyer
Member
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0