Overview
What is 16 Tech Community Corporation?
The 16 Tech Community Corporation (16TCC) is a nonprofit organization instrumental in the programmatic and physical development of the 16 Tech Innovation District in Indianapolis. This district is a thriving hub for entrepreneurship and innovation, driving the tech enablement of life-sciences and advanced manufacturing industries, which are essential to Indiana's economy. With a focus on inclusivity and economic development, 16TCC connects the innovation district to diverse neighborhoods and provides facilities and programs to foster innovation. The district is home to over 200 innovation-related entities, employing more than 800 people, and anticipates further expansion to support 3,000 jobs. 16 Tech serves as a central and accessible entrance into Indiana's innovation ecosystem, allowing innovation-driven enterprises and entrepreneurs to connect with university resources, research facilities, and corporate assets. Ultimately, 16TCC's mission is to create an inclusive innovation community that catalyzes the growth of companies and diverse talent, transforming industries, careers, and our future economy.
Official website here: www.16tech.com
What are the reviews and ratings of this charity?
88% rating from Charity Navigator, earning a Three-Star out of Four Star rating. This score highlights that the organization excels in accountability and finance, demonstrating a strong commitment to transparent operations and effective financial management.
The organization's strengths are notable, particularly in its high program expense ratio of 92.60%, indicating that a significant majority of its funds are directed toward its programs rather than administrative costs. Additionally, the presence of an Audit and Oversight Committee, along with comprehensive policies for conflict of interest and whistleblowing, fosters an environment of accountability.
However, the organization has room for improvement, particularly regarding board independence, with only 46% of board members being independent. This aspect could raise concerns about governance and decision-making processes within the organization. Overall, while 16 Tech Community Corporation shows strong financial health, enhancing board independence could further strengthen its governance structure.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about 16 Tech Community Corporation?
Currently, 16 Tech Community Corporation has not received enough ratings to establish an average score as it has only two reviews on Facebook. However, those who have shared their experiences seem quite enthusiastic about what the organization offers. The space is described as beautiful and spacious, providing a welcoming atmosphere that caters to a range of interests and activities.
One reviewer particularly highlighted the variety of food, drinks, and live music available, emphasizing the enjoyable experience during their visits. Their positive remarks suggest that 16 Tech Community Corporation creates an inviting environment that appeals to different individuals and fosters community engagement. Overall, there's a sense of anticipation for future visits and events, indicative of a strong and favorable impression among visitors.
This AI summary has been generated from reviews found on Facebook.
Is 16 Tech Community Corporation legitimate?
16 Tech Community Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 16 Tech Community Corporation 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: $808,973
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,333,011
For more financial information, click here
Official website here: www.16tech.com
What is the mission statement of 16 Tech Community Corporation?
The 16 Tech Community Corporation is dedicated to fostering an inclusive innovation community. Through the development of a growing ecosystem for entrepreneurship and innovation, this organization catalyzes economic growth and talent attraction. With a range of office, lab, and makerspace facilities, 16 Tech is home to over 200 innovation-related entities, employing over 800 people. At full capacity, the organization anticipates supporting 3,000 jobs and over 2 million square feet of innovation-related space. The nonprofit oversees the district's development, ensuring that benefits extend beyond the innovation ecosystem, reaching nearby neighborhoods, the city, the region, and the state.
Official website here: www.16tech.com
Who is the CEO of 16 Tech Community Corporation?
Alex Kurrelmeier is the Chair of 16 Tech Community Corporation. The CEO's salary of 16 Tech Community Corporation is $237,994 and their total compensation is $264,811.
Official website here: www.16tech.com
What is the revenue of 16 Tech Community Corporation?
16 Tech Community Corporation's revenue in 2022 was $21,301,337.
Official website here: www.16tech.com
Who are the executives of 16 Tech Community Corporation and what are their salaries?
The average compensation at 16 Tech Community Corporation during 2022 was $89,249. There are 24 employees and 10 volunteers at 16 Tech Community Corporation.
Here are 20 key members and their salaries (16 Tech Community Corporation's CEO's salary is $237,994 and their total compensation is $264,811):
- Compensation: $0
- Related: $776,250
- Other: $32,646
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $237,994
- Related: $0
- Other: $26,817
- Compensation: $309,792
- Related: $0
- Other: $40,095
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $129,000
- Other: $25,546
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $80,000
- Other: $27,973
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $213,476
- Related: $0
- Other: $39,226
- Compensation: $164,148
- Related: $0
- Other: $48,311
- Compensation: $105,982
- Related: $0
- Other: $27,154
Official website here: www.16tech.com
Where can I find the form 990 for 16 Tech Community Corporation?
16 Tech Community Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.16tech.com
Learn more at the official website: www.16tech.com
Mission Statement of 16 Tech Community Corporation
The 16 Tech Community Corporation, or 16TCC, is dedicated to fostering an inclusive innovation community. This nonprofit organization plays a crucial role in the development of the 16 Tech Innovation District, a growing hub for entrepreneurship and innovation in Indianapolis. With a mission to enhance economic development, attract and retain diverse talent, and catalyze the growth of companies, 16TCC creates an accessible entrepreneurial ecosystem.
Situated in downtown Indianapolis, 16TCC is intentionally resourced with facilities and programs to foster innovation. The district is home to three buildings, offering a variety of office, wet and dry lab spaces, and makerspaces. Over 200 innovation-related entities, employing more than 800 people, call 16 Tech their home. At full build-out, 16 Tech anticipates more than 2 million square feet of innovation-related space, providing opportunities to train, retrain, and attract talent, resulting in 3,000 jobs.
16 Tech Community Corporation oversees the programmatic and physical development of the district, ensuring that the benefits of economic growth, new investment, and job creation extend beyond the innovation ecosystem. By providing opportunities for innovation-driven enterprises and entrepreneurs to connect with university resources, research facilities, and corporate assets, 16 Tech serves as a central and accessible entrance into Indiana's innovation ecosystem. The nonprofit organization's commitment to quality-of-life services in a work, play, learn environment further supports the growth of the district and its impact on the city, region, and state.
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Impact
October, 2024
16 Tech Community Corporation significantly impacts the Indianapolis region by establishing the 16 Tech Innovation District, a hub for innovation and entrepreneurship that plays a pivotal role in enhancing the life sciences and advanced manufacturing industries essential to Indiana's economy. With its strategic focus on creating a fertile environment for collaboration, 16 Tech connects diverse neighborhoods, ensuring local residents benefit from economic growth and job creation.
The district is home to over 200 innovation-related entities, employing more than 800 individuals, and aims to expand to 2 million square feet of innovation space that will support an estimated 3,000 jobs. This growth not only aids in talent attraction and retention but also provides comprehensive opportunities for training and workforce development within accessible facilities, including office spaces, labs, and makerspaces.
16 Tech serves as a central gateway to Indiana's innovation ecosystem, enabling entrepreneurs and enterprises to easily collaborate with universities, research institutions, and corporate partners. By fostering an inclusive innovation community, it catalyzes economic development, enhances quality of life, and ultimately transforms industries, careers, and the overall future economy of the state.
This information is meant to be a general summary of 16 Tech Community Corporation. 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: $187,304
- Program Service Revenue: $4,618,649
- Gross Receipts: $21,301,337
Assets and Liabilities:
- Total Assets: $134,426,956
- Total Liabilities: $42,807,624
- Net Assets: $91,619,332
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER TAX CREDIT REVENUE
Revenue
$2,643,462
RENTAL INCOME
Revenue
$1,674,073
EVENT INCOME
Revenue
$105,715
DEVELOPER FEE
Revenue
$62,774
PARKING GARAGE INCOME
Revenue
$58,494
Organization Details
Founding Year
2015
Phone
(847) 721-9943Principal Officer
Alex Kurrelmeier
Main Address
1220 WATERWAY BLVD, INDIANAPOLIS, IN, 46202
Website
www.16tech.comNTEE Category
Code: S30 - Community improvement
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