Overview
What is Palm Beach Tech Foundation Inc?
Palm Beach Tech Foundation Inc is a nonprofit organization situated in West Palm Beach, Florida, specifically at 313 Datura Street. Their primary mission is to stimulate and expand the technology sector in Palm Beach County, aiming to establish it as a distinguished technology and innovation hub. In response to the COVID-19 pandemic, they launched a micro-grant program in 2020. This initiative provided employment opportunities for local freelancers and supported 15 businesses in the Downtown West Palm Beach community, helping them adapt during the crisis. Due to its success, additional grant funds were provided by the DDA and Knight Foundation for 2021, and the CRA incorporated this program to support businesses in Northwood Village and the Historic Northwest community. The foundation currently employs 7 individuals.
Is Palm Beach Tech Foundation Inc legitimate?
Palm Beach Tech Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palm Beach Tech Foundation 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: $115,790
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Other Salaries and Wages: $0
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What is the mission statement of Palm Beach Tech Foundation Inc?
The Palm Beach Tech Foundation Inc's mission is to stimulate and expand the technology sector in an unspecified location, aiming to establish it as a prominent technology and innovation hub. In response to the pandemic, they launched a micro-grant program in 2020 to provide opportunities for freelancers and support local businesses in need. The 2020 micro-grant program created over 20 jobs for local freelancers and assisted 15 businesses in the Downtown West Palm Beach community during the COVID-19 crisis. The program's success led to additional grant funds from the DDA and Knight Foundation for 2021, and its inclusion in the CRA's support for businesses in Northwood Village and the Historic Northwest community.
Who is the CEO of Palm Beach Tech Foundation Inc?
Joseph R Russo is the Principal Officer of Palm Beach Tech Foundation Inc.
What is the revenue of Palm Beach Tech Foundation Inc?
Palm Beach Tech Foundation Inc's revenue in 2020 was $357,920.
Who are the executives of Palm Beach Tech Foundation Inc and what are their salaries?
The average compensation at Palm Beach Tech Foundation Inc during 2020 was $16,541. There are 7 employees and 12 volunteers at Palm Beach Tech Foundation Inc.
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- Compensation: $65,000
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- Compensation: $45,000
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Where can I find the form 990 for Palm Beach Tech Foundation Inc?
Palm Beach Tech Foundation Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Palm Beach Tech Foundation Inc
Palm Beach Tech Foundation Inc aims to stimulate and expand the technology sector in Palm Beach County, Florida, transforming it into a significant technology and innovation center. The organization's mission is to galvanize the local tech industry, fostering its growth and elevating its status as a prominent hub for innovation. In response to the challenges posed by the pandemic, Palm Beach Tech Foundation Inc launched a micro-grant program in 2020. This initiative aimed to provide meaningful employment opportunities for local freelancers and offer capacity-building support to businesses in need of assistance to adapt during the COVID-19 crisis. The 2020 microgrant program successfully provided jobs for over 20 freelancers and supported 15 local businesses in the Downtown West Palm Beach community. The program's success led to additional funding from the DDA and Knight Foundation for the 2021 initiative, and the CRA also incorporated this program to support businesses in Northwood Village and the Historic Northwest community. In summary, Palm Beach Tech Foundation Inc is committed to fostering the growth of the technology sector in Palm Beach County, providing employment opportunities, and offering support to local businesses during challenging times.
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Impact
October, 2024
Palm Beach Tech Foundation Inc plays a pivotal role in transforming the technology landscape of Palm Beach County, positioning it as a prominent hub for innovation. The foundation launched a micro-grant program in 2020 in response to the pandemic, which successfully created over 20 jobs for local freelancers and supported 15 businesses in the Downtown West Palm Beach area. This initiative enabled local enterprises to adapt and thrive during challenging times, demonstrating a strong commitment to community resilience and economic recovery.
The success of this program led to additional funding from the DDA and Knight Foundation for 2021, expanding its impact further. Moreover, the inclusion of the micro-grant program by the CRA underscores its value in supporting businesses in Northwood Village and the Historic Northwest community. Through these efforts, Palm Beach Tech Foundation Inc is not only fostering job creation and business sustainability but also driving community improvement and growth in the technology sector locally.
This information is meant to be a general summary of Palm Beach Tech Foundation 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 2020.
- Investment Income: $34
- Gross Receipts: $357,920
Assets and Liabilities:
- Total Assets: $755
- Total Liabilities: $26,373
- Net Assets: -$25,618
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Organization Details
Founding Year
2015
Phone
(561) 512-7306Principal Officer
Joseph R Russo
Main Address
313 DATURA ST, WEST PALM BEACH, FL, 33401
NTEE Category
Code: S30 - Community improvement
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