Overview
What is Smart City Works Inc?
Smart City Works Inc is a nonprofit organization based in Arlington, Virginia, with a mission to foster Northern Virginia as a global hub for urban technology innovation. Led by Smart City Works, the organization operates within a public-private partnership involving universities, the private sector, and government entities. Through various programs, Smart City Works supports technology start-ups and small-to-medium enterprises (SMEs) in the region, aiming to accelerate their growth and create commercialization pathways. This ultimately contributes to sustained regional economic growth, generating jobs, attracting new talent, and fostering innovation. The organization sources new technologies to address urban challenges, fosters the growth and education of tech startups through mentoring and business acceleration programs, develops and runs regional test beds and living laboratories for pilot projects, designs and runs innovation challenge programs to support local government and community goals, and promotes and sustains innovation, entrepreneurship, commercialization, and economic development through networking and educational events. By empowering communities to solve urban challenges and improve economic growth through technology innovation, Smart City Works plays a crucial role in transforming the Northern Virginia and Greater Washington region into a global urban innovation hub.
Official website here: www.smartcityworks.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, earning a Two-Star out of Four Star rating.
Smart City Works Inc has received a moderate rating, reflecting its accountability and finance practices. The organization demonstrates strong governance with 66% independent board members and a robust program expense ratio of 92.77%, indicating that a significant portion of its funds is directed towards its mission-related activities. The inclusion of essential policies such as conflict of interest showcases some level of organizational diligence.
However, the organization has notable limitations, particularly in its financial reporting as it has not provided financial statements, resulting in a score of zero in that area. Additionally, it lacks key policies such as a whistleblower and document retention policy, which are crucial for transparency and accountability. These factors contribute to the overall Two-Star rating, suggesting that while the organization performs well in certain governance aspects, there are areas that require improvement for greater financial transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Smart City Works Inc legitimate?
Smart City Works Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Smart City Works 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: $207,591
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.smartcityworks.org
What is the mission statement of Smart City Works Inc?
Smart City Works Inc, as a non-profit organization, aims to empower communities by addressing urban challenges and fostering economic growth through technology innovation. Its mission is to transform a specific region into a global urban innovation hub, serving as a national testbed for new digital services and capabilities. This transformation aims to enhance the livability, sustainability, health, and resilience of cities.
The organization is currently leading a three-year initiative to establish Northern Virginia as a center of excellence for urban technology innovation. Through a public-private partnership, they aim to support technology start-ups and small businesses, accelerating their growth and creating commercialization pathways. This, in turn, is expected to spur sustained regional economic growth, creating jobs, attracting new talent, and catalyzing innovation.
The initiative's activities include sourcing new technologies, fostering growth and education of tech startups, developing regional test beds, running innovation challenge programs, and promoting innovation, entrepreneurship, commercialization, and economic development through various events.
Official website here: www.smartcityworks.org
Who is the CEO of Smart City Works Inc?
David Heyman is the Chairperson of Smart City Works Inc.
Official website here: www.smartcityworks.org
What is the revenue of Smart City Works Inc?
Smart City Works Inc's revenue in 2022 was $585,530.
Official website here: www.smartcityworks.org
Who are the executives of Smart City Works Inc and what are their salaries?
The average compensation at Smart City Works Inc during 2022 was $103,796. There are 2 employees and 5 volunteers at Smart City Works Inc.
Here are 7 key members and their salaries:
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- Compensation: $153,911
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Official website here: www.smartcityworks.org
Where can I find the form 990 for Smart City Works Inc?
Smart City Works Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.smartcityworks.org
Learn more at the official website: www.smartcityworks.org
Mission Statement of Smart City Works Inc
Smart City Works Inc, a non-profit organization, is dedicated to empowering communities to tackle urban challenges and stimulate economic growth through technological innovation. Their mission is to transform the Northern Virginia and Greater Washington region into a global urban innovation hub and national testbed for new digital services and capabilities. By doing so, they aim to enhance the livability, sustainability, health, and resilience of cities.
To achieve this mission, Smart City Works Inc has initiated a three-year project titled the Northern Virginia Smart Region Initiative. The objective of this initiative is to establish Northern Virginia as a center of excellence for urban technology innovation, attracting digital technology companies to build and grow their businesses. Through a public-private partnership involving universities, the private sector, and government, they aim to support technology start-ups and Small and Medium-sized Enterprises (SMEs) in Northern Virginia, accelerating their growth and creating sustainable regional economic growth. This, in turn, leads to job creation, attracts new talent, catalyzes innovation, and positions Northern Virginia as a magnet region for digital innovation, job opportunities, and cutting-edge urban technologies.
Smart City Works Inc's current program offerings include sourcing new and emerging technologies to solve key urban challenges, fostering the growth and education of tech startups through mentoring and business acceleration programs, developing and running regional test beds and living laboratories to support validation pilot projects, designing and running innovation challenge programs, and promoting and sustaining innovation, entrepreneurship, commercialization, and economic development through thought leadership, networking, and educational events that foster a regional innovation cluster.
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Impact
July, 2024
Smart City Works Inc's impact can be seen in its efforts to transform Northern Virginia and the Greater Washington region into a global urban innovation hub. Through its initiatives, such as the Northern Virginia Smart Region Initiative, Smart City Works empowers communities to solve urban challenges and improve economic growth through technology innovation. By fostering the growth of technology startups, creating commercialization pathways, and running innovation challenge programs, Smart City Works stimulates regional economic growth, creates job opportunities, attracts new talent, and advances the region as a center of excellence for urban technology innovation. Overall, Smart City Works plays a crucial role in promoting innovation, entrepreneurship, and economic development in Northern Virginia and beyond.
This information is meant to be a general summary of Smart City Works 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: $585,530
Assets and Liabilities:
- Total Assets: $166,777
- Total Liabilities: $90,855
- Net Assets: $75,922
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Organization Details
Founding Year
2016
Phone
(929) 276-2789Principal Officer
David Heyman
Main Address
3434 WASHINGTON BLVD, ARLINGTON, VA, 22201
Website
www.smartcityworks.orgNTEE Category
Code: S99 - Community improvement
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