Overview
What is Utec Inc?
Utec Inc, based in Lowell and Lawrence, Massachusetts, is a nonprofit organization dedicated to empowering disconnected youth by providing them with valuable job skills and real earnings. With a workforce of 190 employees, Utec Ignites and nurtures the ambition of young people in both communities, enabling them to break free from violence and poverty, and pursue social and economic success. The organization's mission is to foster positive life choices among the most disengaged youth through effective workforce development programs.
Official website here: www.utecinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93%
Utec Inc has achieved a Four-Star out of Four Star rating from Charity Navigator, indicating a high level of accountability and transparency in its financial practices. With an impressive score of 93%, the organization demonstrates strong governance, featuring a fully independent board and comprehensive auditing measures. Its commitment to maintaining policies such as conflict of interest and whistleblower protections further highlights its dedication to ethical operations.
The organization's financial health reflects positively, with a liabilities to assets ratio of 23.57%, suggesting a solid financial footing. Additionally, Utec Inc allocates a significant portion of its expenses—67.91%—toward its programs, showcasing a commitment to mission-driven activities rather than administrative costs. This focus on program expenditure indicates effective use of donor resources.
While there are no significant limitations noted in the data reviewed, the organization may still face the typical challenges of nonprofits, such as maintaining funding and adapting to changing community needs. Overall, Utec Inc stands out for its robust accountability practices and dedication to serving its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Utec Inc legitimate?
Utec Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Utec 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: $350,458
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,782,325
For more financial information, click here
Official website here: www.utecinc.org
What is the mission statement of Utec Inc?
Utec Inc is dedicated to inspiring and fostering the aspirations of underprivileged youth, motivating them to exchange lives of violence and poverty with social and economic achievements. Through their workforce development program, they offer young people in need the chance to acquire essential job skills and earn genuine income, enabling them to make better life decisions. Utec Inc's mission is geared towards empowering the most disconnected youth, providing them with the tools necessary to transform their futures. The organization's primary goal is to ignite a spark of ambition within these young individuals, giving them the opportunity to break free from their current circumstances and create a more prosperous future for themselves.
Official website here: www.utecinc.org
Who is the CEO of Utec Inc?
Gregg Croteau is the Chair of Utec Inc. The CEO's salary of Utec Inc is $174,523 and their total compensation is $181,601.
Official website here: www.utecinc.org
What is the revenue of Utec Inc?
Utec Inc's revenue in 2022 was $16,132,892.
Official website here: www.utecinc.org
Who are the executives of Utec Inc and what are their salaries?
The average compensation at Utec Inc during 2022 was $27,015. There are 190 employees and 12 volunteers at Utec Inc.
Here are 15 key members and their salaries (Utec Inc's CEO's salary is $174,523 and their total compensation is $181,601):
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- Compensation: $174,523
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- Other: $7,078
- Compensation: $136,183
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- Other: $12,674
- Compensation: $127,868
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- Compensation: $103,303
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- Other: $5,830
Official website here: www.utecinc.org
Where can I find the form 990 for Utec Inc?
Utec Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.utecinc.org
Learn more at the official website: www.utecinc.org
Mission Statement of Utec Inc
Utec Inc, a prominent nonprofit organization, is dedicated to igniting and nurturing the ambition of the most disconnected youth in trading violence and poverty for social and economic success. This mission is an essential endeavor to help young people in overcoming adversities and reaching their full potential.
Utec Inc's primary focus is on workforce development. The organization provides a unique opportunity for those in need to acquire valuable job skills and generate real earnings. By empowering youth with these essential tools, Utec Inc aims to encourage positive life choices that can ultimately lead to a more promising future.
In a proactive approach, Utec Inc offers young people an avenue to break free from the cycle of violence and poverty. By equipping them with the necessary skills and resources, the organization fosters an environment where personal growth and success can thrive. Utec Inc's commitment to its mission is evident in its unwavering dedication to serving those who need it the most.
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Impact
October, 2024
Utec Inc significantly impacts the lives of disconnected youth in Lowell and Lawrence, MA, by empowering them to break the cycles of violence and poverty. Through focused workforce development programs, Utec provides these individuals with valuable job skills, allowing them to secure real earnings and pursue positive life choices. This initiative not only aids in personal development but also fosters social and economic success within the communities it serves. By igniting and nurturing ambition among at-risk youth, Utec plays a crucial role in creating a more vibrant and resilient future for both Lowell and Lawrence.
This information is meant to be a general summary of Utec 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: $132,985
- Program Service Revenue: $1,306,661
- Gross Receipts: $16,457,570
Assets and Liabilities:
- Total Assets: $24,012,756
- Total Liabilities: $5,948,665
- Net Assets: $18,064,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MATTRESS RECYCLING
Revenue
$609,861
CATERING AND FOOD
Revenue
$582,356
CHILD CARE
Revenue
$55,712
COMMERCIAL KITCHEN
Revenue
$48,480
WOODWORKING
Revenue
$10,252
Organization Details
Founding Year
2002
Phone
(978) 441-9949Principal Officer
Gregg Croteau
Main Address
15 WARREN STREET NO 3, LOWELL, MA, 01852
Website
www.utecinc.orgNTEE Category
Code: O50 - Youth development
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