Erie Technology Incubator Inc

Nonprofit profile at a glance

EIN
261539652
IRS 990-EZ coverage
2008–2024
Forms available
Form 990-EZ 2024
Location
Erie, PA, USA
Phone
8148717452
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$67,904
Expenses
$102,972
Assets
$15,889
Liabilities
$6,233

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Brad Gleason (Executive Director)

People named in this filing

  • Jennifer Hoffman (Board Member)
  • Kurt Hersch (Board Member)
  • Thomas Laird (Board Member-Vice Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Erie Technology Incubator (ETI) is a non-profit business incubator dedicated to stimulating the development of advanced technologies and promoting the formation, growth, and retention of early stage technology-based companies that will generate "new economy" job opportunities in Northwest Pennsylvania. It is an entrepreneurial environment that fosters innovation and collaboration among its companies and the public and private sector, while providing a cadre of support services customized to the unique needs of each client.

What it reported doing in 2024

The Erie Technology Incubator served 29 client companies in fiscal year 2025. The companies have created more than 179 new jobs since the inception of the Incubator. To date, more than $48.471 million has been invested in ETI client companies by outside investors.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 12
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -51.6%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 42.1%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 46th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $103K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 filing years from 2008 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Sustainability: Operating margin scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.