Overview
What is Wv Coalition For Technology Based Economic Development Inc?
Wv Coalition For Technology Based Economic Development Inc, doing business as Tech Connect WV, is a nonprofit organization situated in South Charleston, West Virginia. Their primary mission is to promote and diversify the state's economy through technology-based economic development (TBED). To achieve this goal, they launched a project named TechWRX WV, funded by the U.S. Economic Development Administration and the State of West Virginia, running from November 11, 2019, to November 10, 2021. During this period, they offered commercialization technical assistance in chemicals, advanced materials, technology, and advanced manufacturing to entrepreneurs, start-ups, and small businesses in the project's 40-county region. Their aim was to foster new companies and job creation within the state. Tech Connect WV worked in collaboration with three sub-awardees: The Chemical Alliance Zone, The Center for Applied Research & Technology, and The Innova Commercialization Group.
Official website here: www.techconnectwv.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
The Wv Coalition For Technology Based Economic Development Inc has achieved a Three-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The overall score is based solely on the Accountability & Finance metrics, which reflects the organization's commitment to transparency and responsible financial practices.
The nonprofit demonstrates strong governance with a fully independent board and a well-documented approach to conflict of interest and whistleblower policies. Additionally, the coalition maintains a high program expense ratio of 82.54%, suggesting that a significant portion of its budget is allocated directly to its programs and services, which is a positive indicator of impact.
However, the organization faces a challenge with a liabilities to assets ratio of 103.49%, which may raise concerns regarding financial stability. This aspect suggests that the coalition has more liabilities than assets, potentially affecting its long-term sustainability. Overall, while the organization shows strengths in governance and program funding, financial management remains an area for attention.
This AI summary has been generated from information found on Charity Navigator.
Is Wv Coalition For Technology Based Economic Development Inc legitimate?
Wv Coalition For Technology Based Economic Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wv Coalition For Technology Based Economic Development 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:
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For more financial information, click here
Official website here: www.techconnectwv.org/
What is the mission statement of Wv Coalition For Technology Based Economic Development Inc?
The Wv Coalition for Technology-Based Economic Development Inc is committed to fostering the growth and diversification of the economy by promoting technology-based economic development (TBED) in its mission. This organization is dedicated to advancing TBED, aiming to create new companies and generate jobs within its region. To achieve this, they provide commercialization technical assistance in fields such as chemicals and advanced materials, technology, and advanced manufacturing. They offer expert guidance to entrepreneurs, start-ups, and small businesses, helping them navigate technical, entrepreneurial, and commercialization challenges. This is done through partnerships with sub-award recipients like the Chemical Alliance Zone, the Center for Applied Research & Technology, and the InnovA Commercialization Group.
Official website here: www.techconnectwv.org/
Who is the CEO of Wv Coalition For Technology Based Economic Development Inc?
Michele O'Connor is the Director of Wv Coalition For Technology Based Economic Development Inc.
Official website here: www.techconnectwv.org/
What is the revenue of Wv Coalition For Technology Based Economic Development Inc?
Wv Coalition For Technology Based Economic Development Inc's revenue in 2022 was $211,512.
Official website here: www.techconnectwv.org/
Who are the executives of Wv Coalition For Technology Based Economic Development Inc and what are their salaries?
There 22 volunteers at Wv Coalition For Technology Based Economic Development Inc.
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Official website here: www.techconnectwv.org/
Where can I find the form 990 for Wv Coalition For Technology Based Economic Development Inc?
Wv Coalition For Technology Based Economic Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.techconnectwv.org/
Learn more at the official website: www.techconnectwv.org/
Mission Statement of Wv Coalition For Technology Based Economic Development Inc
The West Virginia Coalition for Technology-Based Economic Development, Inc., is committed to driving the growth and diversification of the state's economy by advancing technology-based economic development (TBED). This nonprofit organization's mission is to serve as a catalyst for innovation and job creation, particularly in the fields of chemicals, advanced materials, technology, and advanced manufacturing. The Coalition achieves this by providing expert technical, entrepreneurial, and commercialization guidance to entrepreneurs, start-ups, and small businesses in its 40-county region. By fostering a conducive environment for these entities, the Coalition aims to stimulate the birth of new companies and generate employment opportunities within West Virginia. This mission is being pursued through the TechConnect's TechWRx West Virginia program, a collaboration between the organization and three sub-awardees: the Chemical Alliance Zone, the Center for Applied Research & Technology, and the Innova Commercialization Group.
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Impact
October, 2024
Wv Coalition For Technology Based Economic Development Inc plays a pivotal role in enhancing West Virginia's economy by focusing on advanced technology-based economic development. The organization's TechConnect's TechWrx West Virginia program, which operated from November 2019 to November 2021, significantly contributed to the state's economic landscape, particularly around commercialization in key sectors like chemicals, advanced materials, and advanced manufacturing.
During fiscal year 2022, this program provided essential technical assistance to entrepreneurs, startups, and small businesses across a 40-county region, delivering expert guidance in entrepreneurship and commercialization. The collaborative efforts with organizations such as the Chemical Alliance Zone, the Center for Applied Research & Technology, and the Innova Commercialization Group have helped foster innovation and support new ventures.
The overarching goal of these initiatives is to create new companies and jobs, which directly contributes to the diversification and growth of West Virginia’s economy. By advancing technology-driven developments, the organization facilitates community improvement and economic resilience, ultimately aiming to enhance the overall quality of life for residents in the region.
This information is meant to be a general summary of Wv Coalition For Technology Based Economic Development 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.
- Gross Receipts: $211,512
Assets and Liabilities:
- Total Assets: $714,237
- Total Liabilities: $739,232
- Net Assets: -$24,995
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Organization Details
Founding Year
2008
Phone
(304) 437-4295Principal Officer
Michele O'Connor
Main Address
1740 UNION CARBIDE DR 4203, SOUTH CHARLESTON, WV, 25303
Website
www.techconnectwv.org/NTEE Category
Code: S30 - Community improvement
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