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Monday, April 7, 2008
posted by Justin Hart | 1:42 PM | permalink
Lots of news making the rounds right now about John Murtha's earmarks. One familiar recipient is CTC (Concurrent Technologies Corporation). "Corporation" is a bit of a misnomer since CTC is a 501(c)(3) Public Charity.

Knowing something about non-profits I decided to do a little sleuthing.

First, some information on CTC itself:
  • Ruling year: 1989
  • Assets: $75,491,552
  • Income: $243,960,365
  • No. of employees: not available
  • NTEE Code (categorization code for non-profits): U40 - Engineering and Technology Research
Next Officers, Directors, Trustees, and Key Employees: Fiscal Year Ending June 30, 2006

Name Title Compensation
Daniel R DeVos Pres & CEO $503,473
Edgar Berkey VP & CQO $472,535
John B Pursley, Jr Exec VP $411,576
Michael A Katz Sr VP & COO $357,864
Edward J Sheehan, Jr. Sr VP & CFO $346,540
Emil C Sarady Vice Pres $310,747
Frank W Cooper, Jr. VP & CTO $288,933
Jerry Hudson Vice Pres. $254,807
Linda Monzo General Mgr $227,111
Margaret A DiVirgilio Gen Mgr & Treas $225,851
George Appley General Mgr $220,705
Teri S Maguire Corp Secretary $78,671
Henry L Ellison Board Member $5,500
Conway B Jones, Jr Board Member $5,500
Albert L. Etheridge Board Member $4,500
Howard M Picking, III Chairman $4,500
E Jeanne Gleason Board Member $3,500
Lawrence J Rhoades Board Member $3,500
Mark E Pasquerilla Board Member $2,500
John N Crichton Board Member $2,000

Mission

Improvement of the nation's industrial competitiveness through the effective development and transfer of leading-edge technologies

Programs

Concurrent Technologies Corporation (CTC) is a national resource committed to assisting industry and government achieve world-class competitiveness CTC is an applied research and development professional services organization that provides management and technology-based solutions to a wide array of clients representing state and federal government as well as the private sector.

Can anyone interpret that for me?

Now, here's the kicker:

REVENUE
Contributions $0
Government Grants $212,739,257
Program Services $31,098,761
Investments $122,347
Special Events $0
Sales $0
Other $0
Total Revenue $243,960,365

EXPENSES
Program Services $212,322,790
Administration $25,845,645
Other $1,054,730
Total Expenses $239,223,165
Net Gain/Loss $4,737,200

In short, you the taxpayer gave almost a quarter of a billion dollars to CTC, a non-profit entity, to fund massive salaries for an organization that has a fuzzy mission and now a fuzzier future thanks to Murtha.

Is there some back scratching going on as CBS alleges? Why yes.
  • Daniel R DeVos - CEO, gave $1000 to Murtha 3/2/2007 and $1000 on 8/28/2007
  • Edward Sheehan - CFO, gave $1000 to Murtha 3/9/2007 and $1300 10/26/2007
  • Frank Cooper - VP, gave $1000 to Murtha 3/28/2007 and $200 8/30/2007
  • DiVirgilio - Treasurer gave $1000 to the DCCC
The list goes on and on. More to come...

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1 Comments:


I believe that Linda Monzo has contributed at least $3000 to Murtha. This information is available as a public record.




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