Fortyx80 Inc.

Overview

FORTYX80 INC, designated as a 501(c)(3) organization, is a nonprofit based in Pittsburgh, Pennsylvania. Its mission focuses on enhancing the regional entrepreneurial ecosystem in southwestern Pennsylvania by increasing access to capital, providing educational programs, and promoting the area as a leading destination for start-ups, talent, and technology[1][2]. The organization also works to eliminate barriers for underrepresented groups in tech, aiming to provide employers with a more diverse talent pool[2].

Mission and Activities

Fortexy80 Inc. supports entrepreneurs, workforce development, and educational efforts in its region. It addresses challenges faced by startups, such as funding, market reach, and talent availability[3]. The organization's goals include assisting Pittsburgh's entrepreneurs with global resources, connecting students and educators with innovative companies to guide the future workforce, and providing training for nontraditional job seekers to access IT roles[3].

Financial Profile

As of the fiscal year ending August 2023, Fortyx80 Inc. reported a total revenue of approximately $774,450, with the vast majority coming from contributions[1]. The organization's total assets stood at $487,498, with liabilities of $109,754[2]. Key expenses include executive compensation and other salaries and wages[1]. Donations to Fortyx80 Inc. are tax deductible[1][2].

Governance and Ratings

Fortexy80 Inc. has earned a 96% rating from Charity Navigator, indicating strong accountability and finance management practices. The organization benefits from having a fully independent board and robust governance policies, including whistleblower protections and conflict of interest guidelines[2].

History

Fortexy80 Inc. was founded in 2012 as the nonprofit arm of the Pittsburgh Technology Council, supported through grants and seed funding[3]. Since its inception, it has played a significant role in fostering the local entrepreneurial and educational ecosystem.