Downstate Technology Center Inc
Nonprofit profile at a glance
- EIN
- 113600385
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Brooklyn, NY, USA
- Phone
- 7182703176
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $3,143,464
- Expenses
- $2,719,337
- Assets
- $5,373,652
- Liabilities
- $1,111,238
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- BLAKE A ADAIR-WHEELER MPA (EXECUTIVE DIRECTOR)
People named in this filing
- JOAN BARTOLOMEO (TRUSTEE)
- RICHARD MILLER PHD (TREASURER)
- HEIDI ARONINMPA (TRUSTEE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule odownstate technology center, inc. (dtc) was formed to provide an environment in which new and technologically innovative businesses can develop scientific and medical research that can be translated into commercially viable high technology products and services and/or rental space in incubator and research facilities in brooklyn, New York. To accomplish this, dtc has designed and developed and currently operates state-of-the-art incubator facilities where it leases wet laboratory and office space to biotechnology and other life sciences companies to conduct cutting edge research and development.
What it reported doing in 2024
Dtc has designed, developed and operates state-of-the-art incubator facilities where it leases wet laboratory and office space to biotechnology and other life sciences companies to conduct cutting edge research and development. As of june 30, 2025, dtc had a total of 26 tenants in the two properties they manage.
Operating model
- Revenue model
- Earned-program. 92% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 65
- Accountability: 100
- Sustainability: 66
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 75.4%; rating input score 75
- Program expense ratio: 90.6%; rating input score 91
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 7 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 13.5%; rating input score 69; 69th percentile among comparable filings
- Total-asset coverage ratio: 1.98; rating input score 61; 61st percentile among comparable filings
- Liabilities to assets ratio: 0.21; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 9.8% per year; rating input score 100; 63rd percentile among comparable filings
- Revenue growth: 6.5% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 18.3% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 75.4% of revenue deployed · 90.6% of spending went to programs
- Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $2.5M in reported program spending
- Leadership: top reported pay $0 · 13 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $499K reported
- Consistency: 22 of 22 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.