Associated Grant Makersinc

“Philanthropy massachusetts, inc. Is a membership organization. Members are required to make annual payments for their membership.”

“Board members are nominated by their peers and are voted by members during the annual meeting.”

“Directors, including directors elected by the directors to fill vacancies in the board, may be removed with or without cause by vote of the majority of the members entitled to vote in the election of directors. Any vacancy in the board of directors may be filled by vote of a majority of the directors then in office or, in the absence of such election by the directors, by a majority of the members at a meeting called for the purpose at which a quorum is present; provided, however, that any vacancy created by the members may be filled by the members at the same meeting at which such action is taken by them. The by-laws may at any time be amended or repealed by vote of a majority of the members of the corporation at any annual meeting or at any special meeting called for the purpose.”

“The executive committee of the board of directors has designated the board treasurer as the reviewer of the form 990. The treasurer reviews the form 990 and then contacts the tax return preparer with questions and changes. Once questions have been addressed, the treasurer informs the finance committee and then provides a digital copy of the form 990 to all board members. Subsequently the treasurer authorizes the tax preparer to electronically submit the form 990 to the internal revenue service.”

“The organization's interest policy applies to its board of directors and employees. In the case of conflicts or the appearance thereof, it is the responsibility of the philanthropy massachusetts board, committee and staff members to disclose the conflict prior to making any related decisions. Once such a disclosure has been made in cases involving the board or committees, the remaining board or committee members will determine whether or not there is a potential conflict of interest. In cases involving the staff, the philanthropy massachusetts president (or if the president has the potential conflict, the chair of the board) will determine whether or not there is a potential conflict of interest. For the board and committees, if a conflict of interest is present, the director or committee member involved shall not vote but may remain in the room to answer questions of a factual nature that may assist the board or committee in its deliberations. To identify potential conflicts, directors, committee members and staff shall annually file a conflict of interest disclosure statement with philanthropy massachusetts's chair and president indicating any anticipated or potential conflict situations. This list shall include current board participation and any for-profit vendors used by philanthropy massachusetts in which a board, committee or staff member retains an interest. In addition to the written disclosure statement, any director, committee member or staff having an anticipated or possible conflict on any matter under consideration by philanthropy massachusetts shall disclose that situation at all relevant meetings and shall not vote or use personal influence on the matter. The minutes of the meeting should reflect that the director, committee member or staff involved did not vote.”

“The executive committee reviews the ceo's performance and sets compensation after completion of an annual review by the chair and vice chair. Compensation is set based on a number of factors, including review of regional non-profit compensation data, review of united philanthropy forum, achievement of goals, and philanthropy massachusetts' budget parameters as set by the finance committee. Performance reviews and compensation was conducted in 2024. The ceo sets the other employees' salaries based on salary surveys from field experts including united philanthropy forum, individuals holding similar positions in similar agencies, skill set of the staff, and budget as approved by the board of directors.”

“Philanthropy massachusetts, inc. Uses its website to publicize its mission statement, lists its board members, as well as its program and annual reports. Other organizational documents, including 990's, are available upon a written request. The organizational 990 is also available on www.guidestar.com and on philanthropy massachusetts' website.”

“In 2024, pma restated its 2023 financial statements in order to properly reflect certain revenues related to fiscal sponsorships and general contributions that were not properly recognized in the correct fiscal year. The adjustments from these restatements resulted in a prior period adjustment of $462,525.”