The Tech Interactive reopened to the public on weekends on May 29, 2021, in the midst of the ongoing COVID pandemic. Total revenue, including in-kind contributions, for the fiscal year ending June 30, 2021, was $18.3 million, with investment income accounting for $9.1 million, or 50%, of total revenue. Contributed support was $6.1 million, or 34% of total revenue. Earned revenue was $0.3 million, or 2% of total revenue; this includes general admission and IMAX ticket sales, memberships and facility rentals. Public support was $2.8 million, or 15% of total revenue.

 

Expenses for the year were $18.2 million. 

 

The unrestricted beginning and ending cash balances for the fiscal year were $3.2 million and $2.6 million, respectively. The Tech repaid a $2 million credit-line draw. In addition, The Tech received a second $1.9 million forgivable loan from the federal government’s Coronavirus Aid, Relief, and Economic Security (“CARES”) Act Paycheck Protection Program (“PPP”) and had its first PPP loan for the same amount, which was received in the 2020 fiscal year, fully forgiven. 

 

Some 75% of The Tech’s expenses were from education programs, 19% from marketing and administration, and 6% from fundraising. The $1.9 million PPP loan helped replace earned revenue that was lost due to the COVID-related closure; these funds allowed The Tech to keep staff employed to do virtual programming, continue working with schools and teachers, maintain operations and facilities and prepare for reopening. 

 

The Tech’s financial stewardship enabled it to retain the highest possible four-star rating issued by Charity Navigator, one of America’s leading independent charity rating services.