Civic Intelligence

Massachusetts Economic Development Foundation Inc.

990EZ • Fiscal year 2020 • EIN 04-3451191

Jul 01, 2019 to Jun 30, 2020 • Filed on May 13, 2021

101 Walnut StreetWatertown, MA 02472

(617) 924-4600

Siviq Scores

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

Liabilities / Assets

96th percentile

1.44x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

2.55x

Higher debt load relative to revenue than 97% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

27th percentile

-11%

Higher net margin than 27% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

76th percentile

38%

Faster asset growth than 76% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

60th percentile

-4.1%

Faster revenue growth than 60% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$40,543

Up $11,161 (+38%) from 2019

Net Assets

Down

-$18,011

Down $2,503 (-16%) from 2019

Liabilities

Up

$58,554

Up $13,664 (+30%) from 2019

Revenue

Down

$22,950

Down $981 (-4.1%) from 2019

Expenses

Up

$25,453

Up $1,084 (+4.4%) from 2019

Net Income

Down

-$2,503

Down $2,065 (-471%) from 2019

Historical Trend

Balance Sheet Trend

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

$100K$50K$0-$50KAssets 2011: $66,588Liabilities 2011: $41,4782011Assets 2012: $28,858Liabilities 2012: $12,600Net Assets 2012: $16,2582012Assets 2013: $21,364Liabilities 2013: $8,443Net Assets 2013: $12,9212013Assets 2014: $18,462Liabilities 2014: $0Net Assets 2014: $18,4622014Assets 2015: $56,973Liabilities 2015: $951Net Assets 2015: $56,0222015Assets 2016: $23,429Liabilities 2016: $1,0882016Assets 2017: $17,846Liabilities 2017: $7,812Net Assets 2017: $10,0342017Assets 2018: $25,943Liabilities 2018: $41,013Net Assets 2018: -$15,0702018Assets 2019: $29,382Liabilities 2019: $44,890Net Assets 2019: -$15,5082019Assets 2020: $40,543Liabilities 2020: $58,554Net Assets 2020: -$18,0112020Assets 2021: $52,246Liabilities 2021: $40,740Net Assets 2021: $11,5062021Assets 2022: $42,060Liabilities 2022: $31,302Net Assets 2022: $10,7582022Assets 2023: $33,410Liabilities 2023: $20,774Net Assets 2023: $12,6362023Assets 2024: $20,868Liabilities 2024: $13,578Net Assets 2024: $7,2902024

Highlighted filing

2020

Assets$40,543
Liabilities$58,554
Net Assets-$18,011

Operations Trend

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

$100K$50K$0-$50KRevenue 2011: $9,510Expenses 2011: $9,346Net Income 2011: $1642011Revenue 2012: $11,700Expenses 2012: $20,552Net Income 2012: -$8,8522012Revenue 2013: $6,505Expenses 2013: $9,842Net Income 2013: -$3,3372013Revenue 2014: $12,310Expenses 2014: $6,769Net Income 2014: $5,5412014Revenue 2015: $60,079Expenses 2015: $22,519Net Income 2015: $37,5602015Revenue 2016: $45,650Expenses 2016: $79,331Net Income 2016: -$33,6812016Revenue 2017: $10,125Expenses 2017: $44,218Net Income 2017: -$34,0932017Revenue 2018: $5,250Expenses 2018: $30,354Net Income 2018: -$25,1042018Revenue 2019: $23,931Expenses 2019: $24,369Net Income 2019: -$4382019Revenue 2020: $22,950Expenses 2020: $25,453Net Income 2020: -$2,5032020Revenue 2021: $60,835Expenses 2021: $31,318Net Income 2021: $29,5172021Revenue 2022: $31,410Expenses 2022: $32,158Net Income 2022: -$7482022Revenue 2023: $46,770Expenses 2023: $44,892Net Income 2023: $1,8782023Revenue 2024: $8,950Expenses 2024: $14,296Net Income 2024: -$5,3462024

Highlighted filing

2020

Revenue$22,950
Expenses$25,453
Net Income-$2,503
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 13, 2021
Return Version
2019v5.2
Gross Receipts
$22,950
Mission and Program Overview

Mission

To promote and educate the community about economic development in massachusetts

Program Services

DescriptionGrantsExpenses
THE FOUNDATION MARKETS MASSACHUSETTS AS A PLACE TO DO BUSINESS, HOSTS EDUCATIONAL PROGRAMS RELATING TO THE ECONOMY AND PROVIDES SERVICES THAT ENHANCE JOB CREATION$0$12,027
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
STEPHEN FLAVINChairman-$0--
MICHAEL SCOTTClerk-$0--
DENISE MCGEOUGHVice Chair-$0--
BONNIE SULLIVANTreasurer-$0--
PETER ABAIRExecutive Director-$0--
Filing and Contact Details

Filer

Filer Name
Massachusetts Economic Development
EIN
04-3451191
Phone
6179244600
Address
101 WALNUT STREET, WATERTOWN, MA 02472

Signing Officer

Name
Peter Abair
Title
Executive Director
Phone
6179244600
Signed
2021-05-13
Discuss with paid preparer
Yes

Preparer

Firm
Smith Sullivan & Brown Pc
Address
80 FLANDERS ROAD - SUITE 200, WESTBOROUGH, MA 01581
Preparer
Sandra M Brown CPA
Phone
5088717178
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 8 - Other Revenue

Description: other income. Amount: 318.

Form 990-ez, Part I, Line 16 - Other Expenses

Description: office supplies. Amount: 463. Description: it. Amount: 23,432. Description: dues, fees and licenses. Amount: 1,482. Description: miscellaneous. Amount: 76. Total to form 990-ez, line 16: 25,453.

Form 990-ez, Part II, Line 24 - Other Assets

Description: accounts receivable. Beg. Of year amount: 3,870. End of year amount: 1,845.

Form 990-ez, Part II, Line 26 - Other Liabilities

Description: accounts payable. Beg. Of year amount: 11,059. End of year amount: 1,594. Description: intercompany transfers. Beg. Of year amount: 33,831. End of year amount: 56,960.

Raw XML Appendix176 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.

Path#Value
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IRS990EZ/BooksInCareOfDetail/PhoneNum06179244600
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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0WATERTOWN
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd002472
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IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt0-18011
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt31.00
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0STEPHEN FLAVIN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1MICHAEL SCOTT
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2DENISE MCGEOUGH
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3BONNIE SULLIVAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4PETER ABAIR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0CHAIRMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1CLERK
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2VICE CHAIR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3TREASURER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4EXECUTIVE DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherAssetsTotalDetail/BOYAmt03870
IRS990EZ/OtherAssetsTotalDetail/EOYAmt01845
IRS990EZ/OtherChangesInNetAssetsAmt00
IRS990EZ/OtherExpensesTotalAmt025453
IRS990EZ/OtherRevenueTotalAmt0318
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0TO PROMOTE AND EDUCATE THE COMMUNITY ABOUT ECONOMIC DEVELOPMENT IN MASSACHUSETTS
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0THE FOUNDATION MARKETS MASSACHUSETTS AS A PLACE TO DO BUSINESS, HOSTS EDUCATIONAL PROGRAMS RELATING TO THE ECONOMY AND PROVIDES SERVICES THAT ENHANCE JOB CREATION
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt012027
IRS990EZ/ProhibitedTaxShelterTransInd00
IRS990EZ/RelatedOrganizationCtrlEntInd00
IRS990EZ/SchoolOperatingInd00
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IRS990EZ/SubjectToProxyTaxInd00
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IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt058554
IRS990EZ/TanningServicesProvidedInd00
IRS990EZ/TaxImposedOnOrganizationMgrAmt00
IRS990EZ/TaxImposedUnderIRC4911Amt00
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IRS990EZ/TaxReimbursedByOrganizationAmt00
IRS990EZ/TotalExpensesAmt025453
IRS990EZ/TotalProgramServiceExpensesAmt012027
IRS990EZ/TotalRevenueAmt022950
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0WWW.MASSECON.COM
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgQualifiedInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtExclusivelySec170c2BInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MASSACHUSETTS ALLIANCE FOR ECONOMIC DEVELOPMENT, INC. 501(C)(6) IS SUPPORTED BY MEMBERSHIP DUES AND EVENT REVENUE. REVIEW OF SUPPORT IS DONE ANNUALLY BY MANAGEMENT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A. LINE 3B
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0043172007
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd010
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MASSACHUSETTS ALLIANCE FOR ECONOMIC DEVELOPMENT INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: OTHER INCOME. AMOUNT: 318.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: OFFICE SUPPLIES. AMOUNT: 463. DESCRIPTION: IT. AMOUNT: 23,432. DESCRIPTION: DUES, FEES AND LICENSES. AMOUNT: 1,482. DESCRIPTION: MISCELLANEOUS. AMOUNT: 76. TOTAL TO FORM 990-EZ, LINE 16: 25,453.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: ACCOUNTS RECEIVABLE. BEG. OF YEAR AMOUNT: 3,870. END OF YEAR AMOUNT: 1,845.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 11,059. END OF YEAR AMOUNT: 1,594. DESCRIPTION: INTERCOMPANY TRANSFERS. BEG. OF YEAR AMOUNT: 33,831. END OF YEAR AMOUNT: 56,960.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 8 - OTHER REVENUE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER ABAIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06179244600
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MASSACHUSETTS ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MASS
ReturnHeader/Filer/EIN0043451191
ReturnHeader/Filer/PhoneNum06179244600
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 WALNUT STREET
ReturnHeader/Filer/USAddress/CityNm0WATERTOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002472
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0431985162
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SMITH SULLIVAN & BROWN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt080 FLANDERS ROAD - SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001581
ReturnHeader/PreparerPersonGrp/PhoneNum05088717178
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SANDRA M BROWN CPA
ReturnHeader/ReturnTs02021-05-13T09:46:29-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$20.9$13.6$7.29$8.95$14.3$5.35
2023Detailed filing. Detailed filing data is available for this year.$33.4$20.8$12.6$46.8$44.9$1.88
2022Detailed filing. Detailed filing data is available for this year.$42.1$31.3$10.8$31.4$32.2$0.75
2021Detailed filing. Detailed filing data is available for this year.$52.2$40.7$11.5$60.8$31.3$29.5
2020Detailed filing. Detailed filing data is available for this year.$40.5$58.6$18.0$23.0$25.5$2.50
2019Detailed filing. Detailed filing data is available for this year.$29.4$44.9$15.5$23.9$24.4$0.44
2018Detailed filing. Detailed filing data is available for this year.$25.9$41.0$15.1$5.25$30.4$25.1
2017Detailed filing. Detailed filing data is available for this year.$17.8$7.81$10.0$10.1$44.2$34.1
2016Summary only. Only limited summary data is available for this year.$23.4$1.09$45.7$79.3$33.7
2015Detailed filing. Detailed filing data is available for this year.$57.0$0.95$56.0$60.1$22.5$37.6
2014Detailed filing. Detailed filing data is available for this year.$18.5$0.00$18.5$12.3$6.77$5.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$8.44$12.9$6.51$9.84$3.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.9$12.6$16.3$11.7$20.6$8.85
2011Summary only. Only limited summary data is available for this year.$66.6$41.5$9.51$9.35$0.16