Liabilities / Assets
78th percentile
Higher debt load relative to assets than 78% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.10x
Liabilities / Revenue
80th percentile
Higher debt load relative to revenue than 80% of similar nonprofits.
Net Margin
77th percentile
Higher net margin than 77% of similar nonprofits.
Top Officer Pay
100th percentile
Higher top officer pay than 100% of similar nonprofits.
Top officer pay equals 238.3% of source-year revenue.
Asset Growth
9th percentile
Faster asset growth than 9% of similar nonprofits.
Revenue Growth
6th percentile
Faster revenue growth than 6% of similar nonprofits.
Balance Sheet
Assets
Down$171,000
Down $156,000 (-48%) from 2017
Net Assets
Down$154,000
Down $39,000 (-20%) from 2017
Liabilities
Down$17,000
Down $117,000 (-87%) from 2017
Revenue And Expenses
Revenue
Down$232,000
Down $495,000 (-68%) from 2017
Expenses
Down$184,000
Down $246,000 (-57%) from 2017
Net Income
Down$48,000
Down $249,000 (-84%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- May 14, 2019
- Return Version
- 2017v2.2
- Gross Receipts
- $232,000
Mission and Program Overview
Mission
We inform, connect, and coach technology entrepreneurs-enabling them to rapidly transform ideas into world-changing companies. We are a global network of local organizations, inspired by MIT, and open to the world.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $163,000 | $154,000 | ▼ $9,000 |
| Savings and Temporary Cash Investments | $30,000 | - | - |
| Accounts Receivable | $134,000 | $17,000 | ▼ $117,000 |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | - | - |
| Investments Program Related | $0 | - | - |
| Land, Buildings, and Equipment, Net | $0 | $0 | → $0 |
| Loans From Officers Directors | - | $0 | - |
| Total Assets | $327,000 | $171,000 | ▼ $156,000 |
| Other Assets Total | $0 | $0 | → $0 |
| Liabilities | |||
| Other Liabilities | $134,000 | $17,000 | ▼ $117,000 |
| Total Liabilities | $134,000 | $17,000 | ▼ $117,000 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $193,000 | $154,000 | ▼ $39,000 |
| Total Net Assets Fund Balance | $193,000 | $154,000 | ▼ $39,000 |
| Total Liabilities and Net Assets / Fund Balance | $327,000 | $171,000 | ▼ $156,000 |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| - | Treasurer | $139,738 | $139,738 |
Board Members and Trustees
| Name | Title |
|---|---|
| - | Chairman and President |
| - | Former Chairman |
| - | Former President |
| - | Clerk |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $187,000
- Investment Income
- $0
- Other Revenue
- $45,000
- Change in Net Assets
- $48,000
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $184,000 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $148,000 | $0 | $0 | $148,000 |
| Fees for Services Management | $23,000 | $1,000 | - | $24,000 |
| Other Expenses | $7,000 | - | - | $7,000 |
| Conferences and Meetings | $2,000 | - | - | $2,000 |
| Advertising | $1,000 | - | - | $1,000 |
| Office Expenses | $1,000 | - | - | $1,000 |
| Travel | $1,000 | - | - | $1,000 |
| Total Functional Expenses | $183,000 | $1,000 | $0 | $184,000 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Due to Technology Review | $17,000 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Line 6 Classes of members or stockholders
“Technology Review, Inc. is the sole shareholder/member of the MIT Enterprise Forum, Inc. starting in the fiscal year ending June 30, 2012. As of July 1, 2011, the shareholder/membership was transferred from the Alumni/AE Association of the Massachusetts Institute of Technology to Technology Review, Inc., a related organization to MIT. All organizations involved are related to MIT.”
Form 990, Part VI, Line 7A Members or stockholders electing members of governing body
“The powers of the members, and the conduct and regulation of the affairs of the corporation shall be set forth in the by-laws of the corporation, to the extent they are not set forth in the articles of organization.”
Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body
“No other committees have authority to act on behalf of board of directors.”
Form 990, Part VI, Line 11B Review of form 990 by governing body
“Mit enterprise forum, inc.'s officer responsible for tax matters reviews the form 990 for accuracy and completeness.”
Form 990, Part VI, Line 12C Conflict of interest policy
“All of the organization's policies and procedures are established by MIT including policies on conflict of interest, whistleblower, and document retention and destruction.”
Form 990, Part VI, Line 19 Required documents available to the public
“Upon request information is provided based on the policies and procedures of mit for the dissemination of all information.”
Form 990, Part VI, Line 2 BUSINESS RELATIONSHIP
“The following current officers/directors of mit enterprise forum, inc. Are employed by technology review, inc.: elizabeth bramson-boudreau, antoinette matthews, and enejda xheblati.”
Form 990, PART VI, Line 12C, 13 and 14 POLICIES AND PROCEDURES
“All the organization's policies and procedures are established by mit including policies on conflict of interest, whistleblower, and document retention and destruction. The chapters follow the practices and procedures as outlined in written operating procedures which are agreed to in writing. Other policies and procedures, such as conflict of interest, whistleblower and record retention, are established by mit. Site visits and leadership conferences are used to inform and monitor subordinate chapters to maintain compliance with these policies and procedures.”
Filing and Contact Details
Filer
- Filer Name
- MIT Enterprise Forum Inc
- EIN
- 04-2921492
- Phone
- 6174758100
- Address
- One Main Street 13th Floor, Cambridge, MA 02142
Signing Officer
- Name
- Enejda Xheblati
- Title
- Treasurer
- Signed
- 2019-05-14
Organization Details
- Formed
- 1986
- Legal Domicile
- Ma
- Voting Board Members
- 3
- Independent Board Members
- 0
- Employees
- 0
- Volunteers
- 0
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 11G Other Fees
“FEES FOR SERVICES - OTHER - Total Expense: 148000, Program Service Expense: 148000, Management and General Expenses: , Fundraising Expenses: ;”
Form 990, Part XI, Line 9 Other changes in net assets or fund balances
“OTHER CHANGES - -87000;”
Form 990, Part XII, Line 2B AUDIT BY INDEPENDENT ACCOUNTANT
“The financial statements of mit enterprise forum, inc. Are included in the consolidated financial statements of the massachusetts institute of technology (mit) and audited by an independent accountant. The mit audit committee assumes responsibility for oversight of the audit of the consolidated financial statements and selection of an independent accountant.”
Financial Statement Notes
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
“MIT Enterprise Forum, INC. IS A SUBSIDIARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT). MIT Enterprise Forum, INC.'S FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS WITH MIT. On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was enacted. The Act impacts the Institute in several ways, including the addition of excise taxes on executive compensation and net investment income, as well as new rules for calculating unrelated business taxable income. The overall impact of the Act remains uncertain until further regulatory guidance is issued to assist the Institute in calculating tax liabilities. US GAAP requires MIT to evaluate tax positions taken by the Institute and recognize a tax liability (or asset) if the Institute has taken an uncertain position that more likely than not, would not be sustained upon examination by the IRS. MIT has analyzed the tax positions taken and has concluded that as of June 30, 2018, there are no significant uncertain positions taken or expected to be taken, apart from those impacted by the Act. The Institute continues to evaluate the impact of the Act on current and future tax positions.”
Raw XML AppendixShowing 400 of 752 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ForeignOfficeInd | 0 | false |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | MIT Enterprise Forum, INC. IS A SUBSIDIARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT). MIT Enterprise Forum, INC.'S FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS WITH MIT. On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was enacted. The Act impacts the Institute in several ways, including the addition of excise taxes on executive compensation and net investment income, as well as new rules for calculating unrelated business taxable income. The overall impact of the Act remains uncertain until further regulatory guidance is issued to assist the Institute in calculating tax liabilities. US GAAP requires MIT to evaluate tax positions taken by the Institute and recognize a tax liability (or asset) if the Institute has taken an uncertain position that more likely than not, would not be sustained upon examination by the IRS. MIT has analyzed the tax positions taken and has concluded that as of June 30, 2018, there are no significant uncertain positions taken or expected to be taken, apart from those impacted by the Act. The Institute continues to evaluate the impact of the Act on current and future tax positions. |
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| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | A SEVERANCE PAYMENT WAS MADE TO JASON PONTIN ($328,529) IN CALENDAR YEAR 2017. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule J, Part I, Line 4a Severance or change-of-control payment |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Technology Review, Inc. is the sole shareholder/member of the MIT Enterprise Forum, Inc. starting in the fiscal year ending June 30, 2012. As of July 1, 2011, the shareholder/membership was transferred from the Alumni/AE Association of the Massachusetts Institute of Technology to Technology Review, Inc., a related organization to MIT. All organizations involved are related to MIT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE POWERS OF THE MEMBERS, AND THE CONDUCT AND REGULATION OF THE AFFAIRS OF THE CORPORATION SHALL BE SET FORTH IN THE BY-LAWS OF THE CORPORATION, TO THE EXTENT THEY ARE NOT SET FORTH IN THE ARTICLES OF ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | NO OTHER COMMITTEES HAVE AUTHORITY TO ACT ON BEHALF OF BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | MIT ENTERPRISE FORUM, INC.'S OFFICER RESPONSIBLE FOR TAX MATTERS REVIEWS THE FORM 990 FOR ACCURACY AND COMPLETENESS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | All of the organization's policies and procedures are established by MIT including policies on conflict of interest, whistleblower, and document retention and destruction. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | UPON REQUEST INFORMATION IS PROVIDED BASED ON THE POLICIES AND PROCEDURES OF MIT FOR THE DISSEMINATION OF ALL INFORMATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | FEES FOR SERVICES - OTHER - Total Expense: 148000, Program Service Expense: 148000, Management and General Expenses: , Fundraising Expenses: ; |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | OTHER CHANGES - -87000; |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | THE FINANCIAL STATEMENTS OF MIT ENTERPRISE FORUM, INC. ARE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) AND AUDITED BY AN INDEPENDENT ACCOUNTANT. THE MIT AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | THE FOLLOWING CURRENT OFFICERS/DIRECTORS OF MIT ENTERPRISE FORUM, INC. ARE EMPLOYED BY TECHNOLOGY REVIEW, INC.: ELIZABETH BRAMSON-BOUDREAU, ANTOINETTE MATTHEWS, AND ENEJDA XHEBLATI. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 10 | ALL THE ORGANIZATION'S POLICIES AND PROCEDURES ARE ESTABLISHED BY MIT INCLUDING POLICIES ON CONFLICT OF INTEREST, WHISTLEBLOWER, AND DOCUMENT RETENTION AND DESTRUCTION. THE CHAPTERS FOLLOW THE PRACTICES AND PROCEDURES AS OUTLINED IN WRITTEN OPERATING PROCEDURES WHICH ARE AGREED TO IN WRITING. OTHER POLICIES AND PROCEDURES, SUCH AS CONFLICT OF INTEREST, WHISTLEBLOWER AND RECORD RETENTION, ARE ESTABLISHED BY MIT. SITE VISITS AND LEADERSHIP CONFERENCES ARE USED TO INFORM AND MONITOR SUBORDINATE CHAPTERS TO MAINTAIN COMPLIANCE WITH THESE POLICIES AND PROCEDURES. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Line 6 Classes of members or stockholders |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Line 7a Members or stockholders electing members of governing body |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Line 11b Review of form 990 by governing body |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Line 12c Conflict of interest policy |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Line 19 Required documents available to the public |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, Part IX, Line 11g Other Fees |
Document Assets
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Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $171,000
- Liabilities
- $17,000
- Net assets
- $154,000
- Revenue
- $232,000
- Expenses
- $184,000
- Net income
- $48,000