Frederick Innovative Technology Center Inc
Frederick Innovative Technology Center Inc shows strong revenue and asset growth with zero reported officer compensation.
EIN: 201262262 · Frederick, MD · NTEE: S300 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.8M |
| Total Expenses | $1.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $7,751,754 |
| Net Assets | $838K |
| Transparency Score | 90/100 |
Is Frederick Innovative Technology Center Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Frederick Innovative Technology Center Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Frederick Innovative Technology Center Inc
Frederick Innovative Technology Center Inc (EIN: 201262262) is a nonprofit organization based in Frederick, MD, classified under NTEE code S300. The organization reported total revenue of $7.8M and total assets of $11.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Frederick Innovative Technology Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Frederick Innovative Technology Center Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$536K |
| Total Assets | $2.9M |
| Total Liabilities | $2.1M |
| Net Assets | $838K |
| Operating Margin | 32.7% |
| Debt-to-Asset Ratio | 71.2% |
| Months of Reserves | 31.6 months |
Financial Health Grade: A
In 2023, Frederick Innovative Technology Center Inc reported a surplus of $536K with revenue exceeding expenses, holds 31.6 months of operating reserves (strong position), has a debt-to-asset ratio of 71.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Frederick Innovative Technology Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +106.4% | +14.9% | +235.1% |
| 2022 | -21.0% | +31.8% | +7.7% |
| 2021 | +50.5% | +0.8% | +15.8% |
| 2020 | -12.7% | -17.5% | +3.1% |
| 2019 | +43.9% | +64.0% | +32.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Frederick Innovative Technology Center Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Frederick Innovative Technology Center Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $536K, with revenue exceeding expenses.
- Debt-to-asset ratio: 71.2%.
Executive Compensation Analysis
Frederick Innovative Technology Center Inc consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is highly unusual for an organization of its size, with latest revenue of $7,751,754 and assets of $10,993,146, and suggests a strong volunteer leadership or alternative compensation structures not captured as 'officer compensation'.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Frederick Innovative Technology Center Inc's IRS 990 filings:
- Lack of detailed program spending breakdown in provided data
- Significant increase in liabilities from $36,453 in 201606 to $2,070,135 in 202306, which, while potentially tied to asset growth, warrants further investigation.
Strengths
The following positive indicators were identified for Frederick Innovative Technology Center Inc:
- Consistent 0% officer compensation across all filings, indicating high transparency and resource allocation away from executive salaries.
- Strong revenue growth, increasing from $390,980 in 201406 to $1,638,890 in 202306.
- Significant asset growth, from $407,108 in 201406 to $2,908,352 in 202306, enhancing long-term stability.
- Consistent operational surpluses in recent years (e.g., $535,878 surplus in 202306), demonstrating effective financial management.
Frequently Asked Questions about Frederick Innovative Technology Center Inc
Is Frederick Innovative Technology Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Frederick Innovative Technology Center Inc (EIN: 201262262) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Frederick Innovative Technology Center Inc spend its money?
Frederick Innovative Technology Center Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Frederick Innovative Technology Center Inc tax-deductible?
Frederick Innovative Technology Center Inc is registered as a tax-exempt nonprofit (EIN: 201262262). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Frederick Innovative Technology Center Inc CEO make?
Frederick Innovative Technology Center Inc's highest-compensated officer earns $7,751,754 annually. The organization reported $7.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Frederick Innovative Technology Center Inc's spending goes to programs?
Frederick Innovative Technology Center Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Frederick Innovative Technology Center Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Frederick Innovative Technology Center Inc is above average for NTEE category S300 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Frederick Innovative Technology Center Inc located?
Frederick Innovative Technology Center Inc is headquartered in Frederick, Maryland and files with the IRS under EIN 201262262. It is classified under NTEE code S300.
How many years of IRS 990 filings does Frederick Innovative Technology Center Inc have?
Frederick Innovative Technology Center Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $7.8M in total revenue.
Is Frederick Innovative Technology Center Inc a good charity?
Based on the provided data, FITCI appears to be a well-managed organization with strong financial growth and a notable commitment to transparency regarding executive compensation (0% reported). Its consistent operational surpluses in recent years (e.g., $1,638,890 revenue vs. $1,103,012 expenses in 202306) suggest efficient use of funds. However, without detailed program spending breakdowns, a full assessment of its charitable impact is limited.
How has FITCI's financial health changed over time?
FITCI has shown significant financial growth, particularly in recent years. Revenue increased from $390,980 in 201406 to $1,638,890 in 202306. Assets have also grown substantially, from $407,108 in 201406 to $2,908,352 in 202306, indicating a strong upward trend in financial capacity.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation across all 13 available filings. This indicates a highly unusual and transparent approach where no salaries are paid to its officers, suggesting either a volunteer-led executive team or compensation being reported under different categories.
Filing History
IRS 990 filing history for Frederick Innovative Technology Center Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Frederick Innovative Technology Center Inc's revenue has grown by 196.4%, moving from $553K to $1.6M. Total assets increased by 231.8% over the same period, from $877K to $2.9M. Total functional expenses rose by 65.6%, from $666K to $1.1M. In its most recent filing year (2023), Frederick Innovative Technology Center Inc reported a surplus of $536K, with revenue exceeding expenses. The organization holds $2.1M in liabilities against $2.9M in assets (debt-to-asset ratio: 71.2%), resulting in net assets of $838K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.1M | $2.9M | $2.1M | — | View 990 |
| 2022 | $794K | $960K | $868K | $566K | — | View 990 |
| 2021 | $1.0M | $728K | $806K | $257K | — | View 990 |
| 2020 | $668K | $723K | $696K | $423K | — | View 990 |
| 2019 | $765K | $876K | $675K | $347K | — | View 990 |
| 2018 | $532K | $534K | $510K | $71K | — | View 990 |
| 2017 | $787K | $624K | $515K | $73K | — | View 990 |
| 2016 | $413K | $397K | $314K | $36K | — | View 990 |
| 2015 | $408K | $481K | $318K | $64K | — | View 990 |
| 2014 | $391K | $439K | $407K | $80K | — | View 990 |
| 2013 | $291K | $638K | $475K | $120K | — | View 990 |
| 2012 | $582K | $719K | $725K | $49K | — | View 990 |
| 2011 | $553K | $666K | $877K | $108K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.1M, and assets of $2.9M (revenue +106.4% year-over-year).
- 2022: Revenue of $794K, expenses of $960K, and assets of $868K (revenue -21.0% year-over-year).
- 2021: Revenue of $1.0M, expenses of $728K, and assets of $806K (revenue +50.5% year-over-year).
- 2020: Revenue of $668K, expenses of $723K, and assets of $696K (revenue -12.7% year-over-year).
- 2019: Revenue of $765K, expenses of $876K, and assets of $675K (revenue +43.9% year-over-year).
- 2018: Revenue of $532K, expenses of $534K, and assets of $510K (revenue -32.5% year-over-year).
- 2017: Revenue of $787K, expenses of $624K, and assets of $515K (revenue +90.6% year-over-year).
- 2016: Revenue of $413K, expenses of $397K, and assets of $314K (revenue +1.3% year-over-year).
- 2015: Revenue of $408K, expenses of $481K, and assets of $318K (revenue +4.3% year-over-year).
- 2014: Revenue of $391K, expenses of $439K, and assets of $407K (revenue +34.4% year-over-year).
- 2013: Revenue of $291K, expenses of $638K, and assets of $475K (revenue -50.0% year-over-year).
- 2012: Revenue of $582K, expenses of $719K, and assets of $725K (revenue +5.2% year-over-year).
- 2011: Revenue of $553K, expenses of $666K, and assets of $877K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Frederick Innovative Technology Center Inc:
Data Sources and Methodology
This transparency report for Frederick Innovative Technology Center Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.