Civic Intelligence

Worcester Area Business Education Foundation Inc.

990 • Fiscal year 2017 • EIN 04-3265642

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 22, 2018

Organization ProfileN/A
446 Main Street No 200Worcester, MA 01608

(508) 753-2924

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

75th percentile

0.07x

Higher debt load relative to assets than 75% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

85th percentile

0.15x

Higher debt load relative to revenue than 85% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

4th percentile

-126%

Higher net margin than 4% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

99th percentile

$246,002

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 1197.1% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

12th percentile

-37%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

102%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$43,689

Down $25,953 (-37%) from 2016

Net Assets

Down

$40,659

Down $25,983 (-39%) from 2016

Liabilities

Up

$3,030

Up $30 (+1.0%) from 2016

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin4th percentile

Revenue

Up

$20,550

Up $10,353 (+102%) from 2016

Expenses

Down

$46,533

Down $40,600 (-47%) from 2016

Net Income

Up

-$25,983

Up $50,953 (+66%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $11,057Liabilities 2010: $0Net Assets 2010: $11,0572010Assets 2011: $999Liabilities 2011: $0Net Assets 2011: $9992011Assets 2012: $805Liabilities 2012: $0Net Assets 2012: $8052012Assets 2013: $258,255Liabilities 2013: $3,000Net Assets 2013: $255,2552013Assets 2014: $253,955Liabilities 2014: $15,000Net Assets 2014: $238,9552014Assets 2015: $158,579Liabilities 2015: $15,000Net Assets 2015: $143,5792015Assets 2016: $69,642Liabilities 2016: $3,000Net Assets 2016: $66,6422016Assets 2017: $43,689Liabilities 2017: $3,030Net Assets 2017: $40,6592017Assets 2018: $31,639Liabilities 2018: $3,030Net Assets 2018: $28,6092018Assets 2019: $36,730Liabilities 2019: $3,030Net Assets 2019: $33,7002019Assets 2020: $427,574Liabilities 2020: $36,782Net Assets 2020: $390,7922020Assets 2021: $871,835Liabilities 2021: $132,694Net Assets 2021: $739,1412021Assets 2022: $1,425,378Liabilities 2022: $266,806Net Assets 2022: $1,158,5722022Assets 2023: $2,940,421Liabilities 2023: $832,185Net Assets 2023: $2,108,2362023Assets 2024: $7,973,096Liabilities 2024: $1,268,964Net Assets 2024: $6,704,1322024

Highlighted filing

2017

Assets$43,689
Liabilities$3,030
Net Assets$40,659
Open 2017 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $12,504Expenses 2010: $2,600Net Income 2010: $9,9042010Revenue 2011: $32,012Expenses 2011: $42,070Net Income 2011: -$10,0582011Revenue 2012: $12,501Expenses 2012: $12,695Net Income 2012: -$1942012Revenue 2013: $277,520Expenses 2013: $23,070Net Income 2013: $254,4502013Revenue 2014: $60,278Expenses 2014: $76,578Net Income 2014: -$16,3002014Revenue 2015: $25,507Expenses 2015: $120,884Net Income 2015: -$95,3772015Revenue 2016: $10,197Expenses 2016: $87,133Net Income 2016: -$76,9362016Revenue 2017: $20,550Expenses 2017: $46,533Net Income 2017: -$25,9832017Revenue 2018: $27,500Expenses 2018: $39,550Net Income 2018: -$12,0502018Revenue 2019: $20,254Expenses 2019: $15,163Net Income 2019: $5,0912019Revenue 2020: $723,643Expenses 2020: $366,551Net Income 2020: $357,0922020Revenue 2021: $761,774Expenses 2021: $413,425Net Income 2021: $348,3492021Revenue 2022: $1,488,064Expenses 2022: $1,029,910Net Income 2022: $458,1542022Revenue 2023: $2,032,195Expenses 2023: $1,129,250Net Income 2023: $902,9452023Revenue 2024: $5,707,001Expenses 2024: $1,144,205Net Income 2024: $4,562,7962024

Highlighted filing

2017

Revenue$20,550
Expenses$46,533
Net Income-$25,983
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 22, 2018
Return Version
2017v2.3
Gross Receipts
$20,550
Mission and Program Overview

Mission

Provide educational programs to the membership of the chamber and the local business community.

Provide education to local businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$69,281$43,689▼ $25,592
Total Assets$69,642$43,689▼ $25,953
Other Assets Total$361$0▼ $361
Liabilities
Accounts Payable and Accrued Expenses$3,000$3,030▲ $30
Total Liabilities$3,000$3,030▲ $30
Net Assets / Fund Balance
Temporarily Rstr Net Assets$66,642$40,659▼ $25,983
Total Net Assets Fund Balance$66,642$40,659▼ $25,983
Total Liabilities and Net Assets / Fund Balance$69,642$43,689▼ $25,953
Compensation and Service Providers
Top Officer Pay99th percentile

Board Members and Trustees

NameTitle
Dm MoschosChairman
Timothy P MurrayPresident
Susan MailmanVice Chairman
Abraham Haddad DmdDirector
Brian ThompsonDirector
Marie ShepherdDirector
Richard P BurkeDirector
Robert E JohnsonDirector
Satya MitraDirector
J Kendall HuberClerk
John F MerrillTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$20,550
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$20,550
Change in Net Assets
$-25,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$46,533
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$125--$125
Total Functional Expenses$46,533$0$0$46,533
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the executive committee prior to its filing.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Worcester Area Business Education
EIN
04-3265642
Phone
5087532924
Address
446 MAIN STREET NO 200, WORCESTER, MA 01608

Signing Officer

Name
Timothy P Murray
Title
President
Phone
5087532924
Signed
2018-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy P Murray
Formed
1995
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Stolberg Ebbeling & Blanchette Llp
Address
41 ELM STREET, WORCESTER, MA 01609-2573
Preparer
Keith E Blanchette CPA
Phone
5083633000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The board of directors are responsible for the review of the organization's financial statements and the selection of an independent accountant.”

Raw XML AppendixShowing 400 of 431 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt01002
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TIMOTHY P MURRAY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0246002
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR THE REVIEW OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0WORCESTER REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WORCESTER REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0041988780
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0IMPROVE CENTRAL MASS. ECONOMY THROUGH PROMOTIONAL AND EDUCATIONAL EFFORTS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0446 MAIN STREET SUITE 200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WORCESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd001608
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt10
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt215500
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0NONE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1NONE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2CHECKS ISSUED
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0WORCESTER REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1WORCESTER REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2WORCESTER REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0M
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt066642
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt040659
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt069642
IRS990/TotalAssetsEOYAmt043689
IRS990/TotalAssetsGrp/BOYAmt069642
IRS990/TotalAssetsGrp/EOYAmt043689
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt020550
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt046533
IRS990/TotalFunctionalExpensesGrp/TotalAmt046533
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03000
IRS990/TotalLiabilitiesEOYAmt03030
IRS990/TotalLiabilitiesGrp/BOYAmt03000
IRS990/TotalLiabilitiesGrp/EOYAmt03030
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt066642
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt040659
IRS990/TotalOtherCompensationAmt01002
IRS990/TotalProgramServiceExpensesAmt046533
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt020550
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt069642
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt043689
IRS990/TotReportableCompRltdOrgAmt0245000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0446 MAIN STREET SUITE 200
IRS990/USAddress/CityNm0WORCESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001608
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TIMOTHY P MURRAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05087532924

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,689
Liabilities
$3,030
Net assets
$40,659
Revenue
$20,550
Expenses
$46,533
Net income
-$25,983
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.97$1.27$6.70$5.71$1.14$4.56
2023Detailed filing. Detailed filing data is available for this year.$2.94$0.83$2.11$2.03$1.13$0.90
2022Detailed filing. Detailed filing data is available for this year.$1.43$0.27$1.16$1.49$1.03$0.46
2021Detailed filing. Detailed filing data is available for this year.$0.87$0.13$0.74$0.76$0.41$0.35
2020Detailed filing. Detailed filing data is available for this year.$0.43$0.04$0.39$0.72$0.37$0.36
2019Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.03$0.02$0.02$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.03$0.04$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.02$0.05$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.01$0.09$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.16$0.02$0.14$0.03$0.12$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.25$0.02$0.24$0.06$0.08$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.26$0.00$0.26$0.28$0.02$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.01$0.01$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.03$0.04$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.01$0.00$0.01