Overview
What is Citec Inc?
Citec Inc, located in Potsdam, New York, is a nonprofit organization with a focus on supporting the advancement and expansion of technology-driven businesses. They accomplish this through various means, including international trade, educational resources, and effective communication. With a modest workforce of eight individuals, Citec Inc plays a significant role in fostering the growth of technological enterprises, contributing to the overall development of the industry.
Official website here: www.citec.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Citec Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The overall score is based entirely on the charity's performance in Accountability & Finance, with no reported issues in management or fund allocation. The organization notably boasts a 100% independent board and a strong financial oversight committee, demonstrating robust governance practices.
Strengths include a high program expense ratio of 80.54%, indicating that the majority of funds are directed towards its programs rather than administrative costs. The charity has also implemented key policies such as conflict of interest and whistleblower protections, further ensuring transparency and ethical conduct. Additionally, its liabilities to assets ratio is impressively low at 3.60%, showcasing its financial stability.
While the data presents a highly favorable view of Citec Inc, it is important for potential donors to consider ongoing evaluations and updates in financial practices. Overall, the organization stands out for its commitment to strong governance and effective use of resources in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Citec Inc legitimate?
Citec Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Citec 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $631,998
For more financial information, click here
Official website here: www.citec.org
What is the mission statement of Citec Inc?
Citec Inc is dedicated to supporting the advancement and expansion of technology-focused businesses globally. They accomplish this through various means, including international trade, educational resources, and effective communication. The organization's mission is to facilitate the growth of these businesses, thereby contributing to the technology sector on a global scale. By providing assistance in these areas, Citec Inc aims to foster a conducive environment for the success of technology-based enterprises. Their activities encompass international cooperation, knowledge sharing, and promoting open communication channels within the tech industry.
Official website here: www.citec.org
Who is the CEO of Citec Inc?
George Bouyea is the President of Citec Inc.
Official website here: www.citec.org
What is the revenue of Citec Inc?
Citec Inc's revenue in 2022 was $957,572.
Official website here: www.citec.org
Who are the executives of Citec Inc and what are their salaries?
The average compensation at Citec Inc during 2022 was $79,000. There are 8 employees and 12 volunteers at Citec Inc.
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- Compensation: $144,823
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- Compensation: $107,364
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Official website here: www.citec.org
Where can I find the form 990 for Citec Inc?
Citec Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.citec.org
Learn more at the official website: www.citec.org
Mission Statement of Citec Inc
Citec Inc, a prominent entity, is dedicated to assisting the development and growth of technology-based businesses. This assistance is multifaceted, encompassing international trade, educational resources, and communication. By leveraging these areas, Citec Inc aims to foster the expansion of technology-focused enterprises, contributing to the broader technological landscape. This mission is executed through various means, with international trade serving as a platform for businesses to expand their reach and establish connections in global markets. Additionally, Citec Inc offers educational resources to equip these businesses with the necessary knowledge and skills to thrive in the competitive technological landscape. Lastly, the organization emphasizes the importance of effective communication in facilitating successful international collaborations and fostering a supportive network within the technology industry.
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Impact
October, 2024
Citec Inc plays a pivotal role in fostering the growth of technology-based businesses. By focusing on international trade, educational resources, and communication, the organization provides essential support that enables these businesses to develop and thrive in a competitive landscape. Its efforts significantly enhance the capacity of technology firms, facilitating their access to global markets and valuable knowledge networks.
Through targeted educational initiatives, Citec Inc empowers entrepreneurs and employees alike, equipping them with the skills and information necessary to innovate and excel. The emphasis on communication boosts collaboration among businesses, creating an ecosystem where knowledge and resources can be shared, leading to improved outcomes for all involved.
Located in Potsdam, NY, Citec Inc serves as a crucial catalyst for economic development within the region, helping to establish a robust technological infrastructure that can compete on an international scale. Their multifaceted approach not only supports individual businesses but also contributes to the broader growth of the technology sector, drive job creation, and foster sustainable economic development in the area.
This information is meant to be a general summary of Citec 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: $2,245
- Program Service Revenue: $380,327
- Gross Receipts: $957,572
Assets and Liabilities:
- Total Assets: $1,432,595
- Total Liabilities: $102,080
- Net Assets: $1,330,515
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT FEES
Revenue
$364,342
ADMINISTRATIVE FEES
Revenue
$15,985
Organization Details
Founding Year
1985
Phone
(315) 268-3778Principal Officer
George Bouyea
Main Address
CO CLARKSON UNIVERSITY BOX 8561, POTSDAM, NY, 136998561
Website
www.citec.orgNTEE Category
Code: B99Z - Education
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