Civic Intelligence

Duet Inc.

990 • Fiscal year 2025 • EIN 32-0568985

Jul 01, 2024 to Jun 30, 2025

155 Federal StreetBoston, MA 02110

(617) 712-2848

Siviq Scores

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

Liabilities / Assets

47th percentile

0.10x

Higher debt load relative to assets than 47% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

36th percentile

0.08x

Higher debt load relative to revenue than 36% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

61st percentile

9.5%

Higher net margin than 61% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

78th percentile

$203,950

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

54th percentile

5.2%

Faster asset growth than 54% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

93rd percentile

78%

Faster revenue growth than 93% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Assets

Up

$4,507,451

Up $222,802 (+5.2%) from 2024

Net Assets

Up

$4,046,582

Up $537,130 (+15%) from 2024

Liabilities

Down

$460,869

Down $314,328 (-41%) from 2024

Revenue

Up

$5,656,552

Up $2,478,186 (+78%) from 2024

Expenses

Up

$5,119,422

Up $95,401 (+1.9%) from 2024

Net Income

Up

$537,130

Up $2,382,785 (+129%) from 2024

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2019: $8,634,365Liabilities 2019: $140,218Net Assets 2019: $8,494,1472019Assets 2020: $8,112,750Liabilities 2020: $211,720Net Assets 2020: $7,901,0302020Assets 2021: $6,806,173Liabilities 2021: $300,557Net Assets 2021: $6,505,6162021Assets 2022: $7,274,929Liabilities 2022: $173,774Net Assets 2022: $7,101,1552022Assets 2023: $6,411,419Liabilities 2023: $1,056,312Net Assets 2023: $5,355,1072023Assets 2024: $4,284,649Liabilities 2024: $775,197Net Assets 2024: $3,509,4522024Assets 2025: $4,507,451Liabilities 2025: $460,869Net Assets 2025: $4,046,5822025

Highlighted filing

2025

Assets$4,507,451
Liabilities$460,869
Net Assets$4,046,582

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $5,224,413Expenses 2019: $3,051,665Net Income 2019: $2,172,7482019Revenue 2020: $3,312,216Expenses 2020: $4,181,033Net Income 2020: -$868,8172020Revenue 2021: $2,616,940Expenses 2021: $4,012,354Net Income 2021: -$1,395,4142021Revenue 2022: $4,938,474Expenses 2022: $4,342,935Net Income 2022: $595,5392022Revenue 2023: $2,737,246Expenses 2023: $4,483,294Net Income 2023: -$1,746,0482023Revenue 2024: $3,178,366Expenses 2024: $5,024,021Net Income 2024: -$1,845,6552024Revenue 2025: $5,656,552Expenses 2025: $5,119,422Net Income 2025: $537,1302025

Highlighted filing

2025

Revenue$5,656,552
Expenses$5,119,422
Net Income$537,130
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 25, 2026
Return Version
2024v5.0
Gross Receipts
$5,656,552
Mission and Program Overview

Mission

Duets mission is to help college students earn degrees by providing support and coaching.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,130,235$2,927,105▼ $203,130
Pledges and Grants Receivable$72,568$1,193,137▲ $1,120,569
Intangible Assets$501,866$149,759▼ $352,107
Prepaid Expenses and Deferred Charges$122,865$108,945▼ $13,920
Accounts Receivable$310,601$104,571▼ $206,030
Land, Buildings, and Equipment, Net$35,843$16,841▼ $19,002
Cash and Non-Interest-Bearing Accounts$110,671$7,093▼ $103,578
Total Assets$4,284,649$4,507,451▲ $222,802
Liabilities
Accounts Payable and Accrued Expenses$258,374$306,709▲ $48,335
Other Liabilities$516,823$154,160▼ $362,663
Total Liabilities$775,197$460,869▼ $314,328
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,290,635$2,709,559▼ $581,076
Net Assets With Donor Restrictions$218,817$1,337,023▲ $1,118,206
Total Net Assets Fund Balance$3,509,452$4,046,582▲ $537,130
Total Liabilities and Net Assets / Fund Balance$4,284,649$4,507,451▲ $222,802

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,731$229,550$243,281
Leasehold Improvements$3,110$196,623$199,733
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael LarssonPresident &FT$184,517$19,433$203,950
Michael LarssonPresident & CEO-$184,517$19,433$203,950
Elizabeth PimentelChief Ext ReFT$159,734$13,730$173,464
Elizabeth PimentelChief Ext Rel/ Treas-$159,734$13,730$173,464
Michele CarrollFrmr COO/secFT$161,060$7,253$168,313
Michele CarrollFrmr COO/secr/treas/-$161,060$7,253$168,313
Jahfree DuncanSr Director DegreFT$153,378$7,253$160,631
Jahfree DuncanSr Director Degree Attmnt-$153,378$7,253$160,631
Mary LevinerSr Director StudeFT$121,936$12,568$134,504
Khaleel ShreetSr Coach/ DiFT$109,523$538$110,061

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,469,817
Program Service Revenue
$2,080,847
Investment Income
$105,888
Other Revenue
$0
All Other Contributions
$3,469,817
Change in Net Assets
$537,130

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,656,552
Total Revenue per Audited Statements
$5,656,552
Total Revenue per Form 990
$5,656,552
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,732,236
Other Expenses$872,663
Grants and Similar Amounts Paid$514,523
Total Fundraising Expense$121,747
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,375,132$98,111$435$2,473,678
Current Officers, Directors, Trustees, and Key Employees$567,952$53,614$98,337$719,903
Grants to Domestic Individuals$514,523--$514,523
Occupancy$447,533$20,736$12,576$480,845
Other Employee Benefits$289,050$15,108$1,822$305,980
Payroll Taxes$211,794$14,221$6,660$232,675
Fees for Services Other$136,704-$1,842$138,546
Information Technology$43,773$78,621-$122,394
Office Expenses$9,786$37,722$75$47,583
Depreciation Depletion$27,402--$27,402
Fees for Services Accounting-$22,610-$22,610
Insurance-$22,170-$22,170
Fees for Services Legal-$7,426-$7,426
Other Expenses-$3,687-$3,687
Total Functional Expenses$4,623,649$374,026$121,747$5,119,422

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,119,422
Total Expenses per Audited Statements$5,119,422
Total Expenses per Form 990$5,119,422
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$154,160
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

A copy of form 990 is provided to duets board of directors for approval before being filed

Form 990, Page 6, Part VI, Line 12C

Each director, officer and management level employee shall annually sign a statement which affirms that such person: a. Has received a copy of this conflict of interest policy, b. Has read and understands the conflict of interest policy, c. Has agreed to comply with the conflict of interest policy, and d. Understands that duet is a charitable organization and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Page 6, Part VI, Line 15A

Salary for the ceo is determined and approved by the board of directors. Salaries for other employees are approved by the president/ceo.

Form 990, Page 6, Part VI, Line 15B

Salary for other key employees are approved by the president/ceo.

Form 990, Page 6, Part VI, Line 19

Governing documents, the conflict of interest policy, and financial statements are available by request. The annual financial statements, including the form 990, are filed with the attorney generals office on an annual basis. No requests for information were recevied during the year.

Filing and Contact Details

Filer

Filer Name
Duet Inc
EIN
32-0568985
Phone
6177122848
Address
155 FEDERAL STREET, BOSTON, MA 02110

Signing Officer

Name
Michael Larsson
Title
President & CEO
Phone
6177122848
Signed
2026-03-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Larsson
Formed
2018
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
4
Employees
36

Preparer

Firm
Daviskelly Llp
Address
42 MILL ROAD, WILMINGTON, MA 01887
Preparer
Randall S Davis
Phone
9787648966
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0108945
IRS990/PrincipalOfficerNm0MICHAEL LARSSON
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02080847
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IRS990/PYContributionsGrantsAmt01373855
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0488671
IRS990/PYInvestmentIncomeAmt0180619
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IRS990/PYProgramServiceRevenueAmt01548892
IRS990/PYRevenuesLessExpensesAmt0-1845655
IRS990/PYSalariesCompEmpBnftPaidAmt03651424
IRS990/PYTotalExpensesAmt05024021
IRS990/PYTotalRevenueAmt03178366
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt02927105
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CONSULTING 380,345
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01373855
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01294024
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03662111
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01287046
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt011086853
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0180619
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt077220
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt08437
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt08086
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0380250
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt07660475
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt075000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0150345
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0117500
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt037500
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0380345
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.47680
IRS990ScheduleA/PublicSupportPY170Pct00.50200
IRS990ScheduleA/PublicSupportTotal170Amt05648894
IRS990ScheduleA/SubstantialContributorsTotAmt05437959
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03469817
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01373855
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01294024
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03662111
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01287046
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt011086853
IRS990ScheduleA/TotalSupportAmt011847448
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt013731
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0229550
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0243281
IRS990ScheduleD/ExpensesSubtotalAmt05119422
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03110
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0196623
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0199733
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0154160
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt05656552
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016841
IRS990ScheduleD/TotalExpensesPerForm990Amt05119422
IRS990ScheduleD/TotalLiabilityAmt0154160
IRS990ScheduleD/TotalRevenuePerForm990Amt05656552
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05656552
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05119422
IRS990ScheduleI/GrantRecordsMaintainedInd0false
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt173081
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUITION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1MEAL, TRANSPORT, & MISC
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0195
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt12433
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1159734
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2161060
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3153378
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt019433
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt113730
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt27253
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt37253
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MICHAEL LARSSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ELIZABETH PIMENTEL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MICHELE CARROLL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3JAHFREE DUNCAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHIEF EXT REL/ TREAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2FRMR COO/SECR/TREAS/
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3SR DIR DEGREE ATTMNT
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1173464
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2168313
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 IS PROVIDED TO DUETS BOARD OF DIRECTORS FOR APPROVAL BEFORE BEING FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR, OFFICER AND MANAGEMENT LEVEL EMPLOYEE SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THIS CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE CONFLICT OF INTEREST POLICY, C. HAS AGREED TO COMPLY WITH THE CONFLICT OF INTEREST POLICY, AND D. UNDERSTANDS THAT DUET IS A CHARITABLE ORGANIZATION AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY FOR THE CEO IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. SALARIES FOR OTHER EMPLOYEES ARE APPROVED BY THE PRESIDENT/CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARY FOR OTHER KEY EMPLOYEES ARE APPROVED BY THE PRESIDENT/CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST. THE ANNUAL FINANCIAL STATEMENTS, INCLUDING THE FORM 990, ARE FILED WITH THE ATTORNEY GENERALS OFFICE ON AN ANNUAL BASIS. NO REQUESTS FOR INFORMATION WERE RECEVIED DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/StatesWhereCopyOfReturnIsFldCd1NH
IRS990/StatesWhereCopyOfReturnIsFldCd2TN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04284649
IRS990/TotalAssetsEOYAmt04507451
IRS990/TotalAssetsGrp/BOYAmt04284649
IRS990/TotalAssetsGrp/EOYAmt04507451

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