Overview
What is Fort Worth Medtech Center Inc?
Fort Worth Medtech Center Inc, operating under the name TechFW, is a nonprofit organization situated in Fort Worth, Texas. Their primary mission is to foster the growth of the technology business sector in North Texas by aiding entrepreneurs in commercializing innovative technologies. They offer various programs tailored to entrepreneurs at different stages of their ventures. The ThinkLab program provides foundational support and skill development, while SmartStart assists in launching startups and securing necessary resources. FastForward caters to executives scaling high-growth companies, and the M-Crew program offers six-month mentorship for companies facing growth barriers. With a team of experienced mentors, TechFW aims to empower entrepreneurs and contribute to the tech community in North Texas.
Official website here: www.techfw.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%
Fort Worth Medtech Center Inc, doing business as TechFW, has achieved a perfect score of 100%, earning a Four-Star out of Four Star rating from Charity Navigator. This rating indicates exceptional accountability and transparency, with perfect scores in various criteria including financial statements, board independence, and program expense ratio. Such a high rating signifies that the organization operates with a strong commitment to its mission while maintaining rigorous financial practices.
User reviews highlight the positive impact TechFW has had on clients, particularly in the areas of business development and support for startups. Clients have praised the organization for its outstanding guidance in navigating challenges such as securing venture capital and developing business strategies. The nurturing environment created by the staff has been a significant factor in the success of numerous startups, showcasing the center's dedication to fostering innovation and entrepreneurship.
While the data reflects strong organizational strengths, the reviews do not indicate any significant limitations or challenges faced by TechFW. The consistent positive feedback from users illustrates a solid reputation within the community, reinforcing the effectiveness and value of the services provided. Overall, TechFW appears to be a well-respected and impactful nonprofit in the medtech sector.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Fort Worth Medtech Center Inc legitimate?
Fort Worth Medtech Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fort Worth Medtech 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $87,468
Professional Fundraising Fees: $0
Other Salaries and Wages: $271,050
For more financial information, click here
Official website here: www.techfw.org
What is the mission statement of Fort Worth Medtech Center Inc?
Fort Worth Medtech Center Inc, operating under the name TechFW, aims to foster the growth of the technology business community in North Texas. They accomplish this by assisting entrepreneurs in commercializing innovative technologies. Their mission is twofold: firstly, they help entrepreneurs evaluate the potential value of their technology venture ideas, identify potential markets, and develop a strategy to communicate this value to stakeholders. Secondly, they provide resources and support for entrepreneurs to build and launch their startups, scale high-growth companies, and overcome various challenges through their programs like ThinkLab, SmartStart, FastForward, and M-Crew. TechFW's M-Crew program, in particular, provides a team of mentors to help companies overcome central barriers to growth and implementation over a six-month period.
Official website here: www.techfw.org
Who is the CEO of Fort Worth Medtech Center Inc?
Hayden Blackburn is the Executive Dir. of Fort Worth Medtech Center Inc.
Official website here: www.techfw.org
What is the revenue of Fort Worth Medtech Center Inc?
Fort Worth Medtech Center Inc's revenue in 2022 was $509,549.
Official website here: www.techfw.org
Who are the executives of Fort Worth Medtech Center Inc and what are their salaries?
The average compensation at Fort Worth Medtech Center Inc during 2022 was $44,815. There are 8 employees and 72 volunteers at Fort Worth Medtech Center Inc.
Here are 12 key members and their salaries:
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Official website here: www.techfw.org
Where can I find the form 990 for Fort Worth Medtech Center Inc?
Fort Worth Medtech Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.techfw.org
Learn more at the official website: www.techfw.org
Mission Statement of Fort Worth Medtech Center Inc
Fort Worth Medtech Center Inc, doing business as TechFW, dedicates its mission to fostering the growth of the technology business community in North Texas. By taking an entrepreneur-centric approach, TechFW aims to facilitate the commercialization of innovative technologies. The organization accomplishes this through four primary programs.
The ThinkLab program is designed to support entrepreneurs in the early stages of their venture. This personal investment allows founders to establish the foundations of their technology venture and hone their skills as entrepreneurs. By assisting them in evaluating the potential value of their idea, identifying potential markets, and crafting a strategy to communicate its value, TechFW helps entrepreneurs determine whether their concept is worth pursuing.
The SmartStart program is geared towards entrepreneurs who are building and launching their startups. TechFW provides customized support to help these founders refine their plans, connect with essential resources, and secure funding, among other needs. Companies that qualify for SmartStart can even lease space during the implementation phase of their plans.
Lastly, the FastForward program is tailored for executives leading high-growth companies. TechFW offers guidance to these executives on various challenges, such as securing funding, hiring, marketing, and implementing processes. Companies that participate in SmartStart and FastForward are also eligible for the M-Crew program, which pairs them with a team of experienced mentors who offer targeted assistance for six months.
In summary, Fort Worth Medtech Center Inc Dba TechFW is a nonprofit organization committed to nurturing the technology business community in North Texas. By providing a range of programs, TechFW empowers entrepreneurs and executives to commercialize innovative technologies, secure funding, and grow their businesses.
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Impact
July, 2024
TechFW, through its various programs such as ThinkLab, SmartStart, and FastForward, plays a crucial role in supporting entrepreneurs in North Texas in commercializing innovative technologies. By providing personalized support, mentorship, resources, and access to funding, TechFW empowers entrepreneurs to successfully launch and scale their tech ventures. This directly contributes to the growth and development of the technology business community in the region, fostering innovation, job creation, and economic prosperity. The impact of TechFW extends beyond individual entrepreneurs to benefit the larger community, driving positive change and advancements in the technology sector.
This information is meant to be a general summary of Fort Worth Medtech 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.
- Investment Income: $339
- Program Service Revenue: $363,674
- Gross Receipts: $509,549
Assets and Liabilities:
- Total Assets: $878,746
- Total Liabilities: $362,047
- Net Assets: $516,699
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Core program fees
Revenue
$218,996
Cowtown Angels fees
Revenue
$67,112
Office rentals to clients
Revenue
$71,210
Other client services
Revenue
$6,356
Organization Details
Founding Year
1998
Phone
(817) 339-8968Principal Officer
Hayden Blackburn
Main Address
1120 South Freeway, Fort Worth, TX, 76104
Website
www.techfw.orgNTEE Category
Code: S40 - Community improvement
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