Mit Enterprise Forum Inc

EIN 04-2921492 • 501(c)3 • Cambridge, MA

Profile

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.

196 Broadway 3rd FloorCambridge, MA 02139

www.mitef.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2022

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2022

$511,510

Higher top officer pay than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

-100%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet

Liabilities / AssetsScore unavailable

Assets

Down

Down $135,000 (-100%) from 2021

Liabilities

Flat

Flat from 2021

Net Assets

Down

Down $135,000 (-100%) from 2021

Operations

Liabilities / RevenueScore unavailable Net MarginScore unavailable

Revenue

Down

Down $80,000 (-100%) from 2021

Expenses

Down

$42,000

Down $54,000 (-56%) from 2021

Net Income

Down

-$42,000

Down $26,000 (-163%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

Highlighted filing

2022

Assets$0

Liabilities$0

Net Assets$0

Open 2022 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

Highlighted filing

2022

Revenue$0

Expenses$42,000

Net Income-$42,000

Open 2022 Filing

Filings

Most recent year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing

Assets: $0
Liabilities: $0
Net assets: $0
Revenue: $0
Expenses: $42,000
Net income: -$42,000

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.00	$0.00	$0.00	$0.00	$0.42	$0.42
2021Detailed filing. Detailed filing data is available for this year.	$1.35	$0.00	$1.35	$0.80	$0.96	$0.16
2020Detailed filing. Detailed filing data is available for this year.	$1.51	$0.00	$1.51	$1.20	$1.20	$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.51	$0.00	$1.51	$1.40	$0.64	$0.76
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.71	$0.17	$1.54	$2.32	$1.84	$0.48
2017Import issue. A filing source exists for this year, but detailed import did not complete cleanly.	$3.27	$1.34	$1.93	$7.27	$4.30	$2.97
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$0.38	$0.08	$0.30	$4.93	$4.93	$0.00
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$2.49	$2.19	$0.30	$5.64	$5.66	$0.02
2014Detailed filing. Detailed filing data is available for this year.	$0.32	$0.00	$0.32	$5.48	$5.66	$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.50	$0.00	$0.50	$4.77	$4.64	$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.55	$0.19	$0.37		$4.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$1.33	$0.15	$1.18		$4.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.65	$0.23	$0.43		$4.32

Latest Filing Detail

Jump To

Filing Snapshot

Filing Period: Jul 1, 2021 to Jun 30, 2022
Signed: Oct 14, 2022
Return Version: 2021v4.2
Gross Receipts: $0

Mission and Program Overview

Mission

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Prepaid Expenses and Deferred Charges	$135,000	$0	▼ $135,000
Cash and Non-Interest-Bearing Accounts	$0	$0	→ $0
Savings and Temporary Cash Investments	$0	$0	→ $0
Accounts Receivable	$0	$0	→ $0
Other Notes and Loans Receivable, Net	$0	$0	→ $0
Pledges and Grants Receivable	$0	$0	→ $0
Receivable From Disqualified Prsn	$0	$0	→ $0
Receivables From Officers Etc	$0	$0	→ $0
Investments Other Securities	$0	-	-
Investments Program Related	$0	-	-
Investments in Publicly Traded Securities	$0	$0	→ $0
Land, Buildings, and Equipment, Net	$0	$0	→ $0
Pd in Cap Srpls Land Bldg Eqp Fund	$0	$0	→ $0
Rtn Earn Endowment Incm Other Fnds	$0	$0	→ $0
Cap Stk Tr Prin Current Funds	$0	$0	→ $0
Inventories for Sale or Use	$0	$0	→ $0
Loans From Officers Directors	$0	$0	→ $0
Total Assets	$135,000	$0	▼ $135,000
Other Assets Total	$0	$0	→ $0
Liabilities
Accounts Payable and Accrued Expenses	$0	$0	→ $0
Grants Payable	$0	-	-
Mortgage Notes Payable Secured by Investment Property	$0	$0	→ $0
Unsecured Notes Loans Payable	$0	$0	→ $0
Other Liabilities	$0	$0	→ $0
Total Liabilities	$0	$0	→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions	$135,000	$0	▼ $135,000
Total Net Assets Fund Balance	$135,000	$0	▼ $135,000
Total Liabilities and Net Assets / Fund Balance	$135,000	$0	▼ $135,000

Compensation and Service Providers

Top Officer Pay100th percentile

Board Members and Trustees

Name	Title
-	Chair and President
-	Former President
-	Clerk
-	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $0
Investment Income: $0
Other Revenue: $0
Change in Net Assets: $-42,000

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$42,000
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 Management	$38,000	-	-	$38,000
Information Technology	$3,000	-	-	$3,000
Other Expenses	$1,000	-	-	$1,000
Total Functional Expenses	$42,000	$0	$0	$42,000

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	$0	→ $0
Receivables from Disqualified Persons	$0	$0	→ $0
Receivables from Officers, Directors, Trustees, and Key Employees	$0	$0	→ $0

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
MIT Enterprise Forum of Atlanta Inc	Atlanta, GA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Austin Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Central Coast Inc	Santa Barbara, CA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Chicago Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Dallas-Forth Worth Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Great Lakes Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of New York City Inc co Holland & Knight LLP	New York, NY	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Philadelphia Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Phoenix Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of San Diego Inc	La Jolla, CA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of South Florida Inc	Coral Gables, FL	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of Texas Inc	Houston, TX	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of the Bay Area Inc	Cambridge, MA	Education	501(c)(3)	Type I	Yes
MIT Enterprise Forum of the Northwest Inc co Cindy Pennington	Mukilteo, WA	Education	501(c)(3)	Type I	Yes
Massachusetts Institute of Technology	Cambridge, MA	Education	501(c)(3)	2	No
Technology Review Inc	Cambridge, MA	Publication of Scientific Magazine	501(c)(3)	Type I	No

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Due to Technology Review	-

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Annual disclosure for covered persons: Yes
Audit committee: Yes
Business relationship with 35% controlled entity: No
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.”

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

“MIT Enterprise Forum, Inc. follows applicable written policies and procedures of Massachusetts Institute of Technology.”

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 12C, 13 and 14 POLICIES AND PROCEDURES

“All of MIT Enterprise Forum, Inc.'s policies and procedures are established by MIT, including policies on conflict of interest, whistleblower, and document retention and destruction.”

Filing and Contact Details

Filer

Filer Name: MIT Enterprise Forum Inc
EIN: 04-2921492
Phone: 6174758100
Address: 196 Broadway 3rd Floor, Cambridge, MA 02139

Signing Officer

Name: Enejda Xheblati
Title: Treasurer
Signed: 2022-10-14

Organization Details

Formed: 1986
Legal Domicile: Ma
Voting Board Members: 3
Independent Board Members: 1
Employees: 0
Volunteers: 0

Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

“Distribution of Assets Upon Dissolution as Detailed in Schedule N - -93000;”

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 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. US GAAP requires MIT to evaluate tax positions taken by the Institute to recognize a tax liability (or asset) if the Institute has taken an uncertain tax 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, 2022, there are no significant uncertain tax positions taken or expected to be taken.”

Raw XML AppendixShowing 400 of 704 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/DeductibleNonCashContriInd	0	false
IRS990/DelegationOfMgmtDutiesInd	0	false
IRS990/Desc	0	The Massachusetts Institute of Technology Enterprise Forum, Inc. (MITEF) is an entrepreneurial support organization that provides support programs to technology entrepreneurs and its surrounding communities in the form of events, workshops, competitions, mentoring, and coaching. These programs help entrepreneurs commercialize their companies faster and easier.
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IRS990/DonorAdvisedFundInd	0	false
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt	0	135000
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IRS990/DonorRstrOrQuasiEndowmentsInd	0	false
IRS990/ElectionOfBoardMembersInd	0	true
IRS990/EmployeeCnt	0	0
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IRS990/ExpenseAmt	0	42000
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IRS990/FederalGrantAuditRequiredInd	0	false
IRS990/FeesForServicesManagementGrp/ProgramServicesAmt	0	38000
IRS990/FeesForServicesManagementGrp/TotalAmt	0	38000
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IRS990/FinalReturnInd	0	X
IRS990/ForeignActivitiesInd	0	false
IRS990/ForeignFinancialAccountInd	0	false
IRS990/ForeignOfficeInd	0	false
IRS990/Form8282PropertyDisposedOfInd	0	false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	0	42.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	1	42.0
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	0	2.0
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	3	0.0
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IRS990/Form990PartVIISectionAGrp/FormerOfcrDirectorTrusteeInd	0	X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	Due to Technology Review
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. US GAAP requires MIT to evaluate tax positions taken by the Institute to recognize a tax liability (or asset) if the Institute has taken an uncertain tax 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, 2022, there are no significant uncertain tax positions taken or expected to be taken.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt	0	Kathleen Kennedy
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt	1	Elizabeth Bramson-Boudreau
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt	2	Enejda Xheblati
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	Technology Review, Inc. is the sole shareholder/member of the MIT Enterprise Forum, Inc.
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	MIT Enterprise Forum, Inc. follows applicable written policies and procedures of Massachusetts Institute of Technology.
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	Distribution of Assets Upon Dissolution as Detailed in Schedule N - -93000;
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	7	THE FINANCIAL STATEMENTS OF MIT ENTERPRISE FORUM, INC. ARE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF 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	8	All of MIT Enterprise Forum, Inc.'s policies and procedures are established by MIT, including policies on conflict of interest, whistleblower, and document retention and destruction.
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

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