Overview
What is Slater Technology Fund Inc?
Slater Technology Fund Inc, located in Providence, Rhode Island, is a nonprofit organization dedicated to fostering scientific research and development in the biomedical and information technology sectors. Their mission involves supporting job creation and economic activity in Rhode Island, primarily through grant, equity, and loan awards to small businesses or entrepreneurs aiming to establish ventures in these industries. With a team of three individuals, they have awarded loans to seven local companies, contributing to Rhode Island's advancement in biomedical, informational technologies, and the energy industry.
Official website here: www.slaterfund.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
Slater Technology Fund Inc has achieved a commendable 96% score from Charity Navigator, indicating strong performance in the area of accountability and finance. This high rating reflects the organization’s commitment to transparency and effective governance, as evidenced by their completely independent board and robust financial oversight mechanisms. The absence of any material asset diversions further strengthens their credibility.
The organization excels in its operational transparency, maintaining comprehensive policies around conflicts of interest, whistleblower protections, and document retention. Additionally, their excellent program expense ratio of 93.52% demonstrates a strong focus on directing funds toward their mission rather than administrative costs, which is a significant positive for potential donors.
While the organization shows remarkable strengths in governance and financial management, the summary does not indicate any specific weaknesses or areas for improvement. Overall, Slater Technology Fund Inc stands out as a well-managed nonprofit with a solid track record in accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Slater Technology Fund Inc legitimate?
Slater Technology Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Slater Technology Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $750,094
Professional Fundraising Fees: $0
Other Salaries and Wages: $83,149
For more financial information, click here
Official website here: www.slaterfund.com
What is the mission statement of Slater Technology Fund Inc?
Slater Technology Fund Inc is dedicated to promoting scientific research and development in the fields of biomedical and informational technologies. Their primary aim is to support job creation and economic activity in these sectors. They offer grant, equity, and loan awards to eligible small businesses or individuals planning to establish such businesses, with the intention of fostering growth and innovation in these areas. By doing so, they aim to contribute to the overall advancement of technology and its applications.
Official website here: www.slaterfund.com
Who is the CEO of Slater Technology Fund Inc?
Thorne Sparkman Iii is the Director of Slater Technology Fund Inc.
Official website here: www.slaterfund.com
What is the revenue of Slater Technology Fund Inc?
Slater Technology Fund Inc's revenue in 2022 was $2,092,918.
Official website here: www.slaterfund.com
Who are the executives of Slater Technology Fund Inc and what are their salaries?
The average compensation at Slater Technology Fund Inc during 2022 was $277,748. There are 3 employees at Slater Technology Fund Inc.
Here are 12 key members and their salaries:
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- Compensation: $407,365
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- Other: $51,805
- Compensation: $183,982
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- Other: $8,116
Official website here: www.slaterfund.com
Where can I find the form 990 for Slater Technology Fund Inc?
Slater Technology Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.slaterfund.com
Learn more at the official website: www.slaterfund.com
Mission Statement of Slater Technology Fund Inc
Slater Technology Fund Inc is dedicated to promoting scientific research and development in the domains of biomedical and informational technologies. Their mission is twofold: firstly, they aim to stimulate job creation and foster other economic activities in these technology sectors. Secondly, they offer grant, equity, and loan awards to small businesses or individuals planning to establish such enterprises, thereby supporting the growth of these technologies within their field. By investing in these innovative ventures, Slater Technology Fund Inc contributes to the advancement of scientific research and development, ultimately driving economic growth and job creation.
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Impact
July, 2024
Slater Technology Fund Inc promotes scientific research and development in the areas of biomedical and informational technologies in the state of Rhode Island. By supporting job creation and economic activity based on these technologies, Slater Technology Fund Inc plays a crucial role in fostering innovation and driving growth in the state. Small businesses in Rhode Island, as well as individuals planning to establish such businesses, can benefit from grant, equity, and loan awards from the fund, further contributing to the advancement of these technologies and the local economy. Through initiatives like technology development loans awarded to companies in key industries, Slater Technology Fund Inc is actively shaping the landscape of scientific innovation and economic progress in Rhode Island.
This information is meant to be a general summary of Slater Technology Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$33,902
- Program Service Revenue: $333,156
- Gross Receipts: $2,130,418
Assets and Liabilities:
- Total Assets: $15,915,303
- Total Liabilities: $330,245
- Net Assets: $15,585,058
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DIVS - INV IN QUAL ENT
Revenue
$210,871
INT - TECH DEV LOANS
Revenue
$122,285
Organization Details
Founding Year
1997
Phone
(401) 831-6633Principal Officer
Thorne Sparkman Iii
Main Address
PO BOX 9142, PROVIDENCE, RI, 02940
Website
www.slaterfund.comNTEE Category
Code: U30Z - Science research
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