Civic Intelligence

Rsm Boston Foundation Inc.

990 • Fiscal year 2017 • EIN 46-4101902

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

80 City SquareBoston, MA 02129

(617) 912-9000

Siviq Scores

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

Liabilities / Assets

61st percentile

0.01x

Higher debt load relative to assets than 61% of similar nonprofits.

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

Liabilities / Revenue

59th percentile

0.00x

Higher debt load relative to revenue than 59% of similar nonprofits.

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

Net Margin

64th percentile

10%

Higher net margin than 64% of similar nonprofits.

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

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.

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

Asset Growth

72nd percentile

21%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

79th percentile

31%

Faster revenue growth than 79% of similar nonprofits.

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

Assets

Up

$204,867

Up $34,963 (+21%) from 2016

Net Assets

Up

$203,394

Up $49,125 (+32%) from 2016

Liabilities

Down

$1,473

Down $14,162 (-91%) from 2016

Revenue

Up

$475,401

Up $112,285 (+31%) from 2016

Expenses

Up

$426,276

Up $98,317 (+30%) from 2016

Net Income

Up

$49,125

Up $13,968 (+40%) from 2016

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2014: $109,161Liabilities 2014: $0Net Assets 2014: $109,1612014Assets 2015: $129,112Liabilities 2015: $10,000Net Assets 2015: $119,1122015Assets 2016: $169,904Liabilities 2016: $15,635Net Assets 2016: $154,2692016Assets 2017: $204,867Liabilities 2017: $1,473Net Assets 2017: $203,3942017Assets 2018: $249,449Liabilities 2018: $0Net Assets 2018: $249,4492018Assets 2019: $555,640Liabilities 2019: $229,560Net Assets 2019: $326,0802019Assets 2020: $388,995Liabilities 2020: $0Net Assets 2020: $388,9952020Assets 2021: $399,189Liabilities 2021: $14,000Net Assets 2021: $385,1892021Assets 2022: $399,257Liabilities 2022: $2,000Net Assets 2022: $397,2572022Assets 2023: $498,239Liabilities 2023: $9,000Net Assets 2023: $489,2392023Assets 2024: $522,839Liabilities 2024: $5,250Net Assets 2024: $517,5892024

Highlighted filing

2017

Assets$204,867
Liabilities$1,473
Net Assets$203,394

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2014: $298,670Expenses 2014: $190,509Net Income 2014: $108,1612014Revenue 2015: $277,018Expenses 2015: $267,067Net Income 2015: $9,9512015Revenue 2016: $363,116Expenses 2016: $327,959Net Income 2016: $35,1572016Revenue 2017: $475,401Expenses 2017: $426,276Net Income 2017: $49,1252017Revenue 2018: $536,605Expenses 2018: $490,550Net Income 2018: $46,0552018Revenue 2019: $697,017Expenses 2019: $620,386Net Income 2019: $76,6312019Revenue 2020: $330,318Expenses 2020: $267,404Net Income 2020: $62,9142020Revenue 2021: $323,832Expenses 2021: $327,638Net Income 2021: -$3,8062021Revenue 2022: $344,837Expenses 2022: $332,769Net Income 2022: $12,0682022Revenue 2023: $354,971Expenses 2023: $262,989Net Income 2023: $91,9822023Revenue 2024: $331,873Expenses 2024: $303,523Net Income 2024: $28,3502024

Highlighted filing

2017

Revenue$475,401
Expenses$426,276
Net Income$49,125
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$486,240
Mission and Program Overview

Mission

The rsm boston foundation ("foundation") inspires employees of rsm us llp to become involved in giving back to communities and causes that they care about; and, in so doing, to support one another and to build a stronger team. The foundation is wholly independent of rsm us llp and is run entirely by the volunteer efforts of boston office employees and former employees still devoted to the mission who serve as directors, officers and members of committees that address the mission needs of the organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$503$120,572▲ $120,069
Cash and Non-Interest-Bearing Accounts$124,020$62,420▼ $61,600
Accounts Receivable$45,381$21,875▼ $23,506
Total Assets$169,904$204,867▲ $34,963
Liabilities
Accounts Payable and Accrued Expenses$15,635$1,473▼ $14,162
Total Liabilities$15,635$1,473▼ $14,162
Net Assets / Fund Balance
Unrestricted Net Assets$154,269$203,394▲ $49,125
Total Net Assets Fund Balance$154,269$203,394▲ $49,125
Total Liabilities and Net Assets / Fund Balance$169,904$204,867▲ $34,963
Compensation and Service Providers

Board Members and Trustees

NameTitle
Alex MonahanPresident & Chair
Karin GilmartinClerk/director
Daniel BonnetteDirector
John GeraciDirector
Maggie BerkeleyDirector
Melissa LupoDirector
Michael FerraroDirector
Michael ForasteDirector
Randall DavisDirector
Sarah GoscinakDirector
Dalina ChawalitDirector (from Mar 2017)
Gail FavreauDirector (from Mar 2017)
Madison MccabeDirector (from Mar 2017)
Marc LamotheDirector (from Mar 2017)
Molly GriffithsDirector (from Mar 2017)
Paul ValenteSecretary
Anthony BoucherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$442,191
Program Service Revenue
$0
Investment Income
$69
Other Revenue
$33,141
All Other Contributions
$319,336
Change in Net Assets
$49,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$407,235
Other Expenses$19,041
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$407,235--$407,235
Advertising-$12,977-$12,977
Other Expenses$3,674$54-$54
Total Functional Expenses$410,909$15,367$0$426,276
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Rsm US FoundationDavenport, IA501(c)(3)General Operations$152,640
Boys & Girls Club of BostonBoston, MA501(c)(3)General Operations$52,500
Francis Ouimet Scholarship FundNorton, MA501(c)(3)General Operations$15,000
Red Sox FoundationBoston, MA501(c)(3)General Operations$7,500
South Shore Bank Charitable FoundationSouth Weymouth, MA501(c)(3)General Operations$7,500
Northeast ArcDanvers, MA501(c)(3)General Operations$7,000
Best Buddies International IncMiami, FL501(c)(3)General Operations$6,000
Charlestown Boys and Girls ClubCharlestown, ME501(c)(3)General Operations$5,250
Salesian Boys and Girls ClubEast Boston, MA501(c)(3)General Operations$5,250
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$43,980
Fundraising Direct Expenses$10,839
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Tennis Events$15,893$15,893-$15,893
Bfl Auction Event$137,874$15,019$4,201$10,818
Total Events$166,835$43,980$10,839$33,141
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
Yes
Annual disclosure for covered persons
Yes
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
Yes
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

The form 990 is reviewed in draft form by the officers of the organization. All questions and concerns are addressed and resolved before becoming final. The final form 990 is provided to the full board of directors prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

Each director, officer, and member of a committee with governing board delegated powers annually sign a statement which affirms that such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the organization is tax-exempt and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. Each person must disclose any information relating to any actual or potential financial or duality interest in the statement. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial or duality interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial or duality interest and all material facts, and after any discussion with the interested person, he or she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists.

Form 990, Part VI, Section C, Line 19

Financial statements, form 990, conflict of interest policy, governance policies and procedures and other appropriate governing documents are available to the public upon request for the same period of disclosure as set forth in section 6104(d). In addition, the organization's form 990 is available via guidestar and the massachusetts attorney general's website.

Filing and Contact Details

Filer

Filer Name
Rsm Boston Foundation Inc
EIN
46-4101902
Phone
6179129000
Address
80 CITY SQUARE, BOSTON, MA 02129

Signing Officer

Name
Alex Monahan
Title
President & Chair
Phone
6179129000
Signed
2018-11-15

Organization Details

Principal Officer
Alex Monahan
Formed
2013
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
195
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6, DESCRIPTION OF VOLUNTEERS:

The employees of the boston office of rsm us llp volunteer at local food and clothing banks (greater boston food bank, cradles to crayons, rosie's place, mission safe, goodwill), assist with fundraising events for other local nonprofits (special olympics, home base, red sox foundation), run races to raise funds for other nonprofits (corporate challenge, jolly jaunt, race to home plate), sponsor holiday events for local children in need (wishing wonderland) and help to build homes (habitat), repair facilities (cardinal cushing center), tally funds (march of dimes) and educate young adults (junior achievement).

Financial Statement Notes

PART X, LINE 2:

Under fasb asc 740 income taxes, the foundation recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of december 31, 2017, the foundation does not have any material uncertain tax positions.

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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990/MissionDesc0THE RSM BOSTON FOUNDATION ("FOUNDATION") INSPIRES EMPLOYEES OF RSM US LLP TO BECOME INVOLVED IN GIVING BACK TO COMMUNITIES AND CAUSES THAT THEY CARE ABOUT; AND, IN SO DOING, TO SUPPORT ONE ANOTHER AND TO BUILD A STRONGER TEAM. THE FOUNDATION IS WHOLLY INDEPENDENT OF RSM US LLP AND IS RUN ENTIRELY BY THE VOLUNTEER EFFORTS OF BOSTON OFFICE EMPLOYEES AND FORMER EMPLOYEES STILL DEVOTED TO THE MISSION WHO SERVE AS DIRECTORS, OFFICERS AND MEMBERS OF COMMITTEES THAT ADDRESS THE MISSION NEEDS OF THE ORGANIZATION.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNDER FASB ASC 740 INCOME TAXES, THE FOUNDATION RECOGNIZES THE TAX BENEFIT OF TAX POSITIONS TO THE EXTENT THAT THE BENEFIT WILL MORE LIKELY THAN NOT BE REALIZED. THE DETERMINATION AS TO WHETHER THE TAX BENEFIT WILL MORE LIKELY THAN NOT BE REALIZED IS BASED UPON THE TECHNICAL MERITS OF THE TAX POSITION AS WELL AS CONSIDERATION OF THE AVAILABLE FACTS AND CIRCUMSTANCES. AS OF DECEMBER 31, 2017, THE FOUNDATION DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL OPERATIONS
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4GENERAL OPERATIONS
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BEST BUDDIES INTERNATIONAL INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1BOYS & GIRLS CLUB OF BOSTON
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2CHARLESTOWN BOYS AND GIRLS CLUB
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3FRANCIS OUIMET SCHOLARSHIP FUND
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7SALESIAN BOYS AND GIRLS CLUB
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8SOUTH SHORE BANK CHARITABLE FOUNDATION
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