Civic Intelligence

North Shore Alliance for Economic

EIN 26-4232076 • 501(c)6 • Salem, MA

Profile

The North Shore Alliance for Economic Development (Alliance) is a private non-profit entity formed by businesses, institutional and goverment officials to establish a coordinated and enhanced economic, geographical(continued at supplemental information)

121 Loring AvenueSalem, MA 01970

www.nsecdevelopment.com

Siviq Scores

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

Liabilities / Assets

49th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

50th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2025

Net Margin

79th percentile

19%

Higher net margin than 79% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2025

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

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

501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

22nd percentile

-23%

Faster asset growth than 22% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2025

Revenue Growth

23rd percentile

-19%

Faster revenue growth than 23% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2025

Assets

Up

$54,845

Up $33,411 (+156%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Up

$54,845

Up $33,411 (+156%) from 2024

Revenue

Up

$178,480

Up $68,387 (+62%) from 2024

Expenses

Down

$145,069

Down $36,820 (-20%) from 2024

Net Income

Up

$33,411

Up $105,207 (+147%) from 2024

Trend Graphs

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2013: $79,337Liabilities 2013: $0Net Assets 2013: $79,3372013Assets 2014: $58,542Liabilities 2014: $0Net Assets 2014: $58,5422014Assets 2015: $43,981Liabilities 2015: $0Net Assets 2015: $43,9812015Assets 2016: $21,712Liabilities 2016: $0Net Assets 2016: $21,7122016Assets 2017: $14,102Liabilities 2017: $0Net Assets 2017: $14,1022017Assets 2018: $31,581Liabilities 2018: $0Net Assets 2018: $31,5812018Assets 2020: $42,320Liabilities 2020: $0Net Assets 2020: $42,3202020Assets 2021: $30,136Liabilities 2021: $0Net Assets 2021: $30,1362021Assets 2022: $216,395Liabilities 2022: $0Net Assets 2022: $216,3952022Assets 2023: $93,230Liabilities 2023: $0Net Assets 2023: $93,2302023Assets 2024: $21,434Liabilities 2024: $0Net Assets 2024: $21,4342024Assets 2025: $54,845Liabilities 2025: $0Net Assets 2025: $54,8452025

Highlighted filing

2025

Assets$54,845
Liabilities$0
Net Assets$54,845

Operations Trend

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

$400K$200K$0-$200KRevenue 2013: $81,250Expenses 2013: $90,852Net Income 2013: -$9,6022013Revenue 2014: $68,544Expenses 2014: $89,339Net Income 2014: -$20,7952014Revenue 2015: $71,750Expenses 2015: $86,311Net Income 2015: -$14,5612015Revenue 2016: $59,500Expenses 2016: $81,769Net Income 2016: -$22,2692016Revenue 2017: $63,925Expenses 2017: $71,535Net Income 2017: -$7,6102017Revenue 2018: $63,025Expenses 2018: $45,546Net Income 2018: $17,4792018Revenue 2020: $54,500Expenses 2020: $57,103Net Income 2020: -$2,6032020Revenue 2021: $53,703Expenses 2021: $65,887Net Income 2021: -$12,1842021Revenue 2022: $315,522Expenses 2022: $129,263Net Income 2022: $186,2592022Revenue 2023: $273,066Expenses 2023: $396,231Net Income 2023: -$123,1652023Revenue 2024: $110,093Expenses 2024: $181,889Net Income 2024: -$71,7962024Revenue 2025: $178,480Expenses 2025: $145,069Net Income 2025: $33,4112025

Highlighted filing

2025

Revenue$178,480
Expenses$145,069
Net Income$33,411

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 13, 2025
Return Version
2024v5.2
Gross Receipts
$178,480
Mission and Program Overview

Mission

The North Shore Alliance for Economic Development is a private non-profit entity formed by business, institutional and government officials to create increased economic opportunity in the thirty communities that comprise Boston's North Shore.Chaired by Ms. Kim Driscoll, Mayor of Salem Massachusetts, the Alliance has over five hundred public and private participants who have convened to create an enhanced economic, geographic and political indentity for the North Shore with an eye toward increasing vitality, visibility and opportunity across the region.By becoming a cogent, broad-based voice for economic development, transportation, education and workforce issues, the Alliance endeavors to focus attention on how the North Shore business and residential "quality of life" can be directly connected to the viability of North Shore businesses and institutions.

North Shore Alliance for Economic Development, Inc. was formed by business and institutional officials to create increased economic opportunity in the thirty communities that comprise Boston's North Shore.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$20,673$54,032▲ $33,359
Prepaid Expenses and Deferred Charges$761$813▲ $52
Total Assets$21,434$54,845▲ $33,411
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$21,434$54,845▲ $33,411
Total Net Assets Fund Balance$21,434$54,845▲ $33,411
Total Liabilities and Net Assets / Fund Balance$21,434$54,845▲ $33,411
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$178,401
Program Service Revenue
$0
Investment Income
$79
Other Revenue
$0
Change in Net Assets
$33,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$145,069
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
Advertising$26,676$1,190-$27,866
Occupancy-$21,000-$21,000
Fees for Services Other$10,888$1,200-$12,088
Fees for Services Accounting-$7,450-$7,450
Other Expenses$2,819$98-$2,917
All Other Expenses$473$1,372-$1,845
Insurance-$1,664-$1,664
Office Expenses-$561-$561
Total Functional Expenses$110,422$34,647$0$145,069
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

The organization does not have committees.

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

The board of directors reviews a draft of the form 990 as prepared by independent tax professionals and discusses any questions/issues with the tax professionals. Once the board accepts the draft , the return is filed.

Form 990, Part VI, Section C, line 19

Corporate bylaws and financial statements are available to the public by written request of the executive director.

Filing and Contact Details

Filer

Filer Name
North Shore Alliance for Economic
EIN
26-4232076
Phone
9787444430
Address
121 LORING AVENUE, SALEM, MA 01970

Signing Officer

Name
Michael Cahill
Title
President/ Director
Phone
9787444430
Signed
2025-10-13
Discuss with paid preparer
No

Organization Details

Principal Officer
Michael Cahill
Formed
2008
Legal Domicile
Ma
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
14

Preparer

Firm
Ryan & Coscia Pc
Address
256 ESSEX STREET, SALEM, MA 01970
Preparer
Robert Conleycpa
Phone
9787441760
Supplemental Narrative

Additional Explanations

Form 990, Part III Organization'S mission statement continued

identity for the North Shore with an eye toward increasing, vitality, visibility and opportunity across the region. It has become a cogent, broad-based voice of collaborative advocacy on issues of economic development, transportation and infrastructure planning and education and workforce issues. The Alliance performs a vital role and focuses the attention of policymakers on business and residential "quality of life" concerns that have a direct impact on the viability of North Shore businesses and institutions. Currently Chaired by Michael Cahill, Mayor of Beverly Massachusetts, the Alliance plays a unique role in the region. This is because of its offerings, programs and resources are accessible, do not require membership to participate and, with few exceptions, are free to participants. In addition, the ability to partner with the private and public sector has enabled it to be an effective regional convener. The North Shore Alliance is the regional organization that it: Convenes leaders from both the public and private sectors, from within all 30 cities and towns, so they can work together on defined and agreed upon regional priorities. Leads the region by identifying and communicating key economic development activities and initiatives to a broad cross section of public and private leaders. Impacts business and economic development by offering technical assistance/ educational programs and promotes State resources that directly help multiple businesses throughout the region. Organizes meetings of the 30 city and town planners, on a quarterly basis so they can both share what they are doing with each other, and, equally importantly, understand how their work fits into broader regional activities. Communicates important regional initiatives through its weekly newsletter, social media, website and regional calendar. All these communication venues are received by a large and influential group of public and private leaders and decision makers. Provides one-stop-shopping for businesses outside the region on who to work with in cities and towns and how to connect with them. The North Shore Alliance offers technical assistance programs that directly help numerous businesses throughout the region, partnership initiatives in workforce development and other regional coordination efforts. Through this approach, the Alliance has been able to maximize its regional business and economic impact priorities. The Alliance will continue to work closely with its broad group of strategic partners in the region on issues impacting the North Shore and lower Merrimack Valley regions. These partners include 30 Alliance Member Communities, Enterprise Center at Salem State University, MassHire North Shore Workforce Board, Massachusetts Office of Business Development, SCORE, Small Business Development Center, North Shore Technology Council, Congressman Seth Moulton's Office, Salem State University, North Shore Community College, Montserrat College of Art, The Salem Partnership, Creative Collective, InnoVenture Labs, UMass Amherst Gloucester Marine Station, Essex County Community Foundation, Northeast Legal Aid, Essex National Heritage Area, North Shore MassHire Career Center, Commonwealth Corporation and other educational institutions, as well as regional and local Chambers of Commerce including the North Shore, Greater Cape Ann, Lynn Area, Salem, Peabody, Greater Newburyport, Greater Beverly, Marblehead, Greater Haverhill, Amesbury, Massachusetts LGBT, Merrimack Valley, and other chambers. The North Shore Alliance is committed to increased coordination with the Merrimack Valley Planning Commission to help ensure that the ten communities served are presented with a wide variety of resources to address their business challenges. The focus is to share information and bring the Alliance's resources to help these partners as they pursue regional initiatives.

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IRS990/Form990PartVIISectionAGrp/PersonNm1Jim Cowdell
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IRS990/Form990PartVIISectionAGrp/PersonNm3Beth Debski
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IRS990/ProgSrvcAccomActy2Grp/Desc0In FY 2025, the Alliance commissioned UMass Amherst Gloucester Marine Station to prepare a Northeast Massachusetts Climatetech Conference Summary Report (held on March 26, 2025) and a Northeast Massachusetts Climatetech Consortium Fact Sheet. The UMass Donahue Institute was commissioned to produce the Future of Work - High Demand Occupations in the Region Report and worked in partnership with the Alliance and the MassHire North Shore Workforce Board on the 2025 North Shore High Demand Occupations: Healthcare and Social Assistance Career Pathways. The Alliance will use and share the clear and compelling data from these reports to advance its economic development efforts that promote economic sustainability.
IRS990/ProgSrvcAccomActy3Grp/Desc0The Alliance represented the regional business community in collaborative, long-range workforce skills, transportation and land use by the following means: North Shore Small Business Diversity Directory, Priority Development Site Listing Website Landing Page Video and Updated Community Photo Library, Quarterly Economic Development Directors & Community Planners Meetings and the Alliance Policymakers Series.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0The Alliance supports regional business recruitment, retention, growth and coordination with the following activities: Convening quarterly meeting of City/Town Planners and Economic/Community Development Directors; offering Partnership initiatives with MOBD and promoting regional activities through Alliance Weekly Newsletter, website, calendar of regional events & forums and social media; and developing and fostering regional partnerships.The Alliance business support in FY25 included small business workshops offerings ranging from topics including (Starting a Business, Managing Financials and Cashflow, AI, Marketing, Sales, Social Media, Business Contracts, Networking, Succession Planning, Non-Profit Series, Business Plans), Small Business State Webinar Resource Series, Minority Resource Showcase for Minority and Diverse Owned Businesses, Climatetech Conference and introductions to State and Federal Resources.The North Shore Alliance for Economic Development focused its FY25 efforts on the Future of Work including the Youth Labor Market and High Demand Occupations in the region, Climatetech, Revitalization and Small Business Support to the 30 communities (including four gateway Cities) it serves through its existing/expanded offerings, new program initiatives and strategic regional partnerships. The Alliance's FY25 REDO Grant aligned its work to support and compliment the Commonwealth's Partnership for Growth and Partnership for Recovery priorities.Our FY25 REDO Grant work focused on five (5) areas: Regional Competitiveness -Economic Data, Small Business Technical Assistance/Support/Equity/Competitiveness, Workforce Development/Talent Pipeline, Regional Revitalization and Regional Communication and Promotion.Programs and reports to support these five areas included: Northeast Massachusetts Climatetech Conference and Conference Report, Northeast Massachusetts Consortium Fact Sheet, Future of Work: High Demand Occupations in the Region Report; Future of Work: Youth Labor Market Blueprint; Resource Showcase for Minority Owned & Diverse Businesses, Small Business State Resource Webinar Series, Small Business Technical Assistance Workshops/Webinars, MOBD Partnership Initiatives, Priority Development Site Listing website landing page, Program Partnerships, Quarterly Economic Development Directors & Community Planners Meetings, Alliance Policymakers Series, and Alliance Website/Weekly Electronic Newsletters/Social Media.The Alliance's REDO Grant funding for FY25 totaled $100,000 to continue its impactful work on the North Shore and lower Merrimack Valley that has benefitted the region. Working with the 30 communities, including four Gateway Cities, municipal leaders, strategic partners, businesses and our partners in state government, EOED, EOHLC and MOBD, the Alliance will continue to help the region and its businesses to meet its challenges.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0identity for the North Shore with an eye toward increasing, vitality, visibility and opportunity across the region. It has become a cogent, broad-based voice of collaborative advocacy on issues of economic development, transportation and infrastructure planning and education and workforce issues. The Alliance performs a vital role and focuses the attention of policymakers on business and residential "quality of life" concerns that have a direct impact on the viability of North Shore businesses and institutions. Currently Chaired by Michael Cahill, Mayor of Beverly Massachusetts, the Alliance plays a unique role in the region. This is because of its offerings, programs and resources are accessible, do not require membership to participate and, with few exceptions, are free to participants. In addition, the ability to partner with the private and public sector has enabled it to be an effective regional convener. The North Shore Alliance is the regional organization that it: Convenes leaders from both the public and private sectors, from within all 30 cities and towns, so they can work together on defined and agreed upon regional priorities. Leads the region by identifying and communicating key economic development activities and initiatives to a broad cross section of public and private leaders. Impacts business and economic development by offering technical assistance/ educational programs and promotes State resources that directly help multiple businesses throughout the region. Organizes meetings of the 30 city and town planners, on a quarterly basis so they can both share what they are doing with each other, and, equally importantly, understand how their work fits into broader regional activities. Communicates important regional initiatives through its weekly newsletter, social media, website and regional calendar. All these communication venues are received by a large and influential group of public and private leaders and decision makers. Provides one-stop-shopping for businesses outside the region on who to work with in cities and towns and how to connect with them. The North Shore Alliance offers technical assistance programs that directly help numerous businesses throughout the region, partnership initiatives in workforce development and other regional coordination efforts. Through this approach, the Alliance has been able to maximize its regional business and economic impact priorities. The Alliance will continue to work closely with its broad group of strategic partners in the region on issues impacting the North Shore and lower Merrimack Valley regions. These partners include 30 Alliance Member Communities, Enterprise Center at Salem State University, MassHire North Shore Workforce Board, Massachusetts Office of Business Development, SCORE, Small Business Development Center, North Shore Technology Council, Congressman Seth Moulton's Office, Salem State University, North Shore Community College, Montserrat College of Art, The Salem Partnership, Creative Collective, InnoVenture Labs, UMass Amherst Gloucester Marine Station, Essex County Community Foundation, Northeast Legal Aid, Essex National Heritage Area, North Shore MassHire Career Center, Commonwealth Corporation and other educational institutions, as well as regional and local Chambers of Commerce including the North Shore, Greater Cape Ann, Lynn Area, Salem, Peabody, Greater Newburyport, Greater Beverly, Marblehead, Greater Haverhill, Amesbury, Massachusetts LGBT, Merrimack Valley, and other chambers. The North Shore Alliance is committed to increased coordination with the Merrimack Valley Planning Commission to help ensure that the ten communities served are presented with a wide variety of resources to address their business challenges. The focus is to share information and bring the Alliance's resources to help these partners as they pursue regional initiatives.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS A DRAFT OF THE FORM 990 AS PREPARED BY INDEPENDENT TAX PROFESSIONALS AND DISCUSSES ANY QUESTIONS/ISSUES WITH THE TAX PROFESSIONALS. ONCE THE BOARD ACCEPTS THE DRAFT , THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CORPORATE BYLAWS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY WRITTEN REQUEST OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III Organization's mission statement continued
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
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IRS990/USAddress/AddressLine1Txt0121 LORING AVENUE SUITE 110
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Michael Cahill
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President/ Director
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