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DOWNSTATE TECHNOLOGY CENTER INC
BROOKLYN, NY · EIN 113600385 · Form 990 · FY2024 · NTEE S30 · Community Improvement · Medium ($1M-$10M)
revenue
$3.1M
expenses
$2.7M
net assets
$4.3M
employees
0
program ratio
91%
mission · from form 990

DOWNSTATE 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.

profile · synthesized from sources

Downstate Technology Center Inc (DTC) operates state-of-the-art incubator facilities in Brooklyn, New York, providing wet laboratory and office space to biotechnology and life sciences companies. The organization supports early-stage, innovative firms conducting scientific and medical research with the goal of translating discoveries into commercially viable high-technology products and services. DTC fosters a specialized environment for research and development in the life sciences sector.

named programs · 1 · from sources

What they call their work

Incubator Facility Leasing
Provides wet laboratory and office space to biotechnology and life sciences companies for research and development activities in Brooklyn, NY
activities · 1 group

What they do

  • Research Facility Management 1 activity
    • Operating biotech incubator facilities
      Operates state-of-the-art incubator facilities in Brooklyn, New York, providing wet laboratory and office space to biotechnology and life sciences companies for research and development through leasing arrangements.
financials · form 990 · fy2024
revenue
Total revenue$3.14M
Contributions & grants$125K4%
Program service revenue$2.89M92%
Investment income$120K4%
Other revenue$7K
expenses
Total expenses$2.72M
Program expenses91%
Admin / overhead9%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$5.37M
Cash$3.51M
Investments$0
Liabilities$1.11M
Net assets$4.26M
Liquid reserves15.5 mo
6 years on record · 2019–2024 · YoY revenue +2.9%
leadership · form 990 part vii · fy2024

Who runs it

board members · 9
  • DAVID CHRISTINI PHD — TRUSTEE
  • DAVID HOCHMAN MBA — TRUSTEE
  • HEIDI ARONINMPA — TRUSTEE
  • JEFFREY HWANG MBA — TRUSTEE
  • JOAN BARTOLOMEO — TRUSTEE
  • NICHOLAS QUERQUES — TRUSTEE
  • RICHARD MILLER PHD — TREASURER
  • STEPHEN M KAMINSKY PHD — TRUSTEE
  • WAYNE RILEY MD MPHMBAMACP — TRUSTEE
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Technology Incubator Model
    methodology: technology-incubator-model
    By providing specialized infrastructure and support to biotechnology and life sciences startups, we accelerate the development of commercially viable high-technology products, because early-stage companies benefit significantly from shared resources, technical assistance, and ecosystem connections that reduce barriers to innovation and market entry.