Massachusetts Budget and Policy Center Inc

“The tax return is sent electronically to all members of the Board of Directors and any questions are forwarded to the appropriate staff.”

“Every year and at the start of any new director's term, all directors sign off on the conflict of interest policy. In addition, potential conflicts are reviewed during all grant application processes.”

“The staff President's compensation is determined by a Board of Directors' committee after reviewing performance, comparable data and determining what would be equitable for both the organization and the President. Staff compensation is determined by the President following annual reviews and self-reviews by each employee. Consideration is given to comparisons of salaries within MassBudget and also compensation reviews which the President conducts every few years to review internal salaries with those of similar nonprofit organizations. All compensation decisions are supported with written documentation that is stored in office files.”

“The Organization's governing documents, conflict of interest policy, and financial statements are available to the public on request.”

“The Organization receives foundation grants that are restricted as to time or use and frequently span longer than one fiscal year. The 990 presentation requires a presentation of total revenue including restricted revenue, however, the Organization budgets to its projected annual unrestricted revenue. As a result, the 990 presentation of net surplus (deficit) for a given year includes changes in temporarily restricted revenue that do not impact the current year operating activity. A presentation segregating temporarily restricted revenue from operating activity for the years 2023 and 2024 is below. 2023 2024 Grant and contr revenue- unrestricted $402,262 $259,630 Contract service revenue 4,250 100,250 Program Services Income 6,250 28,500 Interest income 16,727 54,861 Net assets released from restrictions 2,220,425 2,671,082 Total unrestricted support and revenue 2,649,914 3,114,323 Less expenses (2,860,260) (3,112,080) Incr (decr) in unrestricted net assets (210,346) 2,243 Incr (decr) in temp restricted net assets ( 71,925) 502,167 Incr (decr) in total net assets ($282,271) $504,410”