Overview
What is Downstate Technology Center Inc?
Downstate Technology Center Inc, situated in Brooklyn, New York, is a nonprofit organization with a mission to foster innovation in scientific and medical research. They achieve this by operating advanced incubator facilities, leasing wet laboratory and office space to biotechnology and life sciences companies. These companies utilize the facilities for cutting-edge research and development, aiming to create commercially viable high technology products and services. As of June 30, 2022, Downstate Technology Center Inc managed two properties, housing 24 tenants. The organization's objective is to provide a conducive environment for technologically innovative businesses to thrive.
Official website here: www.downstate.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Downstate Technology Center Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization's high score indicates a commitment to transparency and effective financial management, with a particular focus on maintaining an independent board and thorough oversight of financial activities.
Strengths of the organization include a fully independent board of directors and a high program expense ratio of 91.70%, which suggests that a significant portion of its resources is directed towards its mission-related activities. Additionally, the charity has robust policies in place, including conflict of interest and whistleblower policies, ensuring ethical governance and accountability.
While the data does not indicate any major weaknesses, the absence of limitations in the feedback might imply a strong operational foundation. Overall, Downstate Technology Center Inc stands as a well-managed nonprofit with a focus on integrity and responsible resource allocation.
This AI summary has been generated from information found on Charity Navigator.
Is Downstate Technology Center Inc legitimate?
Downstate Technology Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downstate Technology Center 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.
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Official website here: www.downstate.edu
What is the mission statement of Downstate Technology Center Inc?
Downstate Technology Center Inc, established with the purpose of fostering innovation, provides an environment for technologically advanced businesses. Its primary objective is to facilitate the development of scientific and medical research, which can be transformed into commercially viable high-tech products and services. To achieve this, DTC operates state-of-the-art incubator facilities, offering leaseable wet laboratory and office spaces to biotechnology and other life sciences companies. These companies utilize these facilities to conduct groundbreaking research and development activities. The center's mission ultimately aims to stimulate the growth of new businesses and contribute to technological advancements.
Official website here: www.downstate.edu
Who is the CEO of Downstate Technology Center Inc?
Eva Cramer Phd is the President of Downstate Technology Center Inc.
Official website here: www.downstate.edu
What is the revenue of Downstate Technology Center Inc?
Downstate Technology Center Inc's revenue in 2022 was $2,642,146.
Official website here: www.downstate.edu
Who are the executives of Downstate Technology Center Inc and what are their salaries?
Here are 13 key members and their salaries:
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Official website here: www.downstate.edu
Where can I find the form 990 for Downstate Technology Center Inc?
Downstate Technology Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.downstate.edu
Learn more at the official website: www.downstate.edu
Mission Statement of Downstate Technology Center Inc
Downstate Technology Center Inc, often abbreviated as DTC, was established with a mission to create an environment that fosters the growth of innovative businesses in the fields of scientific and medical research. This nonprofit organization aims to translate these research findings into commercially viable high-technology products and services, or provide rental space in incubator and research facilities. To achieve this goal, DTC has designed and developed state-of-the-art incubator facilities, leasing wet laboratory and office space to biotechnology and other life sciences companies. These companies use these facilities to conduct cutting-edge research and development. In essence, Downstate Technology Center Inc serves as a hub, providing the necessary infrastructure and resources for new and technologically advanced businesses to thrive and make significant contributions to the scientific and medical communities.
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Impact
July, 2024
Downstate Technology Center Inc's impact lies in providing a conducive environment for new and technologically innovative businesses to develop scientific and medical research that can be translated into commercially viable high technology products and services. Through their state-of-the-art incubator facilities in Brooklyn, New York, they lease wet laboratory and office space to biotechnology and other life sciences companies, enabling them to conduct cutting-edge research and development. As of June 30, 2022, Downstate Technology Center Inc had a total of 24 tenants benefiting from the facilities they manage. By supporting these businesses, Downstate Technology Center Inc contributes to the growth and advancement of the biotechnology and life sciences sectors, ultimately fostering innovation and economic development in the community.
This information is meant to be a general summary of Downstate Technology Center 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.
- Program Service Revenue: $2,401,492
- Gross Receipts: $2,642,146
Assets and Liabilities:
- Total Assets: $3,493,508
- Total Liabilities: $830,344
- Net Assets: $2,663,164
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,401,492
Organization Details
Founding Year
2000
Phone
(718) 270-3176Principal Officer
Eva Cramer Phd
Main Address
450 CLARKSON AVE BOX 65, BROOKLYN, NY, 11203
Website
www.downstate.eduNTEE Category
Code: S30 - Community improvement
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