Civic Intelligence

Foundation for Business Equity Inc

EIN 82-1912000 • Boston, MA

265 Franklin St Mail Code 304Boston, MA 02110
Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

30th percentile

0.00x

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

$1M-$5M nonprofits • Source year 2022

Net Margin

85th percentile

43%

Higher net margin than 85% of similar nonprofits.

$1M-$5M nonprofits • Source year 2022

Top Officer Pay

67th percentile

$0

Higher top officer pay than 67% of similar nonprofits.

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

$1M-$5M nonprofits • Source year 2022

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

$1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

93rd percentile

156%

Faster revenue growth than 93% of similar nonprofits.

$1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $3,716,432 (-100%) from 2021

Liabilities

Down

$0

Down $99,931 (-100%) from 2021

Net Assets

Down

$0

Down $3,616,501 (-100%) from 2021

Operations
Liabilities / Revenue30th percentileNet Margin85th percentile

Revenue

Up

$2,647,877

Up $1,612,354 (+156%) from 2021

Expenses

Down

$1,512,241

Down $336,871 (-18%) from 2021

Net Income

Up

$1,135,636

Up $1,949,225 (+240%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth1st percentile

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

$6.0M$4.0M$2.0M$0Assets 2018: $263,844Liabilities 2018: $170,946Net Assets 2018: $92,8982018Assets 2019: $1,017,975Liabilities 2019: $96,361Net Assets 2019: $921,6142019Assets 2020: $4,741,776Liabilities 2020: $311,686Net Assets 2020: $4,430,0902020Assets 2021: $3,716,432Liabilities 2021: $99,931Net Assets 2021: $3,616,5012021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0
Open 2022 Filing

Operations Trend

Revenue Growth93rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $3,828,001Expenses 2018: $3,835,518Net Income 2018: -$7,5172018Revenue 2019: $3,263,847Expenses 2019: $2,530,804Net Income 2019: $733,0432019Revenue 2020: $6,281,069Expenses 2020: $2,782,542Net Income 2020: $3,498,5272020Revenue 2021: $1,035,523Expenses 2021: $1,849,112Net Income 2021: -$813,5892021Revenue 2022: $2,647,877Expenses 2022: $1,512,241Net Income 2022: $1,135,6362022

Highlighted filing

2022

Revenue$2,647,877
Expenses$1,512,241
Net Income$1,135,636
Open 2022 Filing

Filings

Most recent year

2022 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$2,647,877
Expenses
$1,512,241
Net income
$1,135,636
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.65$1.51$1.14
2021Detailed filing. Detailed filing data is available for this year.$3.72$0.10$3.62$1.04$1.85$0.81
2020Detailed filing. Detailed filing data is available for this year.$4.74$0.31$4.43$6.28$2.78$3.50
2019Detailed filing. Detailed filing data is available for this year.$1.02$0.10$0.92$3.26$2.53$0.73
2018Detailed filing. Detailed filing data is available for this year.$0.26$0.17$0.09$3.83$3.84$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Mar 23, 2023
Return Version
2022v5.0
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
NANCY HUNTINGTON STAGERPresident/Director-$0--
JAMES B FITZGERALDTreasurer/Director-$0--
KATHLEEN C HENRYClerk/Secretary/Director-$0--
GLYNN T LLOYDDirector-$0--
ROBERT F RIVERSDirector-$0--
QUINCY L MILLERDirector-$0--
Filing and Contact Details

Filer

Filer Name
Foundation for Business Equity Inc
EIN
82-1912000
Phone
7815987908
Address
265 FRANKLIN ST MAIL CODE 304, BOSTON, MA 02110

Signing Officer

Name
Nancy Huntington Stager
Title
President
Phone
7815987908
Signed
2023-03-23
Discuss with paid preparer
Yes

Preparer

Firm
Wolf & Company Pc
Address
255 STATE STREET, BOSTON, MA 02109
Preparer
Harry a Kalajian Jr CPA
Phone
6174399700
Raw XML AppendixShowing 400 of 495 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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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt5DIRECTOR
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt2265 FRANKLIN STREET
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt5265 FRANKLIN STREET
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IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt0PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO OTHER NONPROFIT ORGANIZATIONS INCLUDING GENERAL MANAGEMENT, VISION AND STRATEGY DEVELOPMENT, BUSINESS DEVELOPMENT, FUNDRAISING FOR OPERATIONS AND LENDING CAPITAL, SENIOR STAFF AND PROGRAM OVERSIGHT
IRS990PF/StatementsRegardingActy4720Grp/ActsFailToQlfyAsExceptionsInd00
IRS990PF/StatementsRegardingActy4720Grp/BrrwOrLendDisqualifiedPrsnInd00
IRS990PF/StatementsRegardingActy4720Grp/BusinessHoldingsInd00
IRS990PF/StatementsRegardingActy4720Grp/FurnGoodsDisqualifiedPrsnInd01
IRS990PF/StatementsRegardingActy4720Grp/GrantsToIndividualsInd00
IRS990PF/StatementsRegardingActy4720Grp/GrantsToOrganizationsInd00
IRS990PF/StatementsRegardingActy4720Grp/InfluenceElectionInd00
IRS990PF/StatementsRegardingActy4720Grp/InfluenceLegislationInd00
IRS990PF/StatementsRegardingActy4720Grp/JeopardyInvestmentsInd00
IRS990PF/StatementsRegardingActy4720Grp/NoncharitablePurposeInd00
IRS990PF/StatementsRegardingActy4720Grp/PayCompDisqualifiedPrsnInd01
IRS990PF/StatementsRegardingActy4720Grp/PaymentToGovernmentOfficialInd00
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IRS990PF/StatementsRegardingActy4720Grp/ProhibitedTaxShelterTransInd00
IRS990PF/StatementsRegardingActy4720Grp/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990PF/StatementsRegardingActy4720Grp/SaleOrExchDisqualifiedPrsnInd00
IRS990PF/StatementsRegardingActy4720Grp/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990PF/StatementsRegardingActy4720Grp/TransferAstDisqualifiedPrsnInd00
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPriorActsInd00
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPYJeopardyInvstInd00
IRS990PF/StatementsRegardingActy4720Grp/UndistributedIncomePYInd00
IRS990PF/StatementsRegardingActyGrp/ActivitiesNotPreviouslyRptInd00
IRS990PF/StatementsRegardingActyGrp/AtLeast5000InAssetsInd01
IRS990PF/StatementsRegardingActyGrp/ChangesToArticlesOrBylawsInd01
IRS990PF/StatementsRegardingActyGrp/ComplyWithPublicInspRqrInd01
IRS990PF/StatementsRegardingActyGrp/DonorAdvisedFundInd00
IRS990PF/StatementsRegardingActyGrp/ForeignAccountsQuestionInd00
IRS990PF/StatementsRegardingActyGrp/Form1120POLFiledInd00
IRS990PF/StatementsRegardingActyGrp/Form990PFFiledWithAttyGenInd01
IRS990PF/StatementsRegardingActyGrp/IndividualWithBooksNm0NANCY HUNTINGTON STAGER
IRS990PF/StatementsRegardingActyGrp/LegislativePoliticalActyInd00
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/AddressLine1Txt0265 FRANKLIN STREET
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/CityNm0BOSTON
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/StateAbbreviationCd0MA
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/ZIPCd002110
IRS990PF/StatementsRegardingActyGrp/MoreThan100SpentInd00
IRS990PF/StatementsRegardingActyGrp/NewSubstantialContributorsInd00
IRS990PF/StatementsRegardingActyGrp/OrganizationDissolvedEtcInd01
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd0MA
IRS990PF/StatementsRegardingActyGrp/OwnControlledEntityInd00
IRS990PF/StatementsRegardingActyGrp/PhoneNum07815987908
IRS990PF/StatementsRegardingActyGrp/PrivateOperatingFoundationInd01
IRS990PF/StatementsRegardingActyGrp/Section4955ManagersTaxAmt00
IRS990PF/StatementsRegardingActyGrp/Section4955OrganizationTaxAmt00
IRS990PF/StatementsRegardingActyGrp/Section508eRqrSatisfiedInd01
IRS990PF/StatementsRegardingActyGrp/TaxReimbursedAmt00
IRS990PF/StatementsRegardingActyGrp/UnrelatedBusIncmOverLimitInd00
IRS990PF/StatementsRegardingActyGrp/WebsiteAddressTxt0N/A
IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt0DISBURSEMENTS TO PARTNERS-THE FOUNDATION WILL MATCH STRATEGIC ADVISORS TO THE ENTERPRISES OF COLOR TO HELP THEM GROW. THE STRATEGIC ADVISORS WILL CO-CREATE EFFECTIVE GROWTH STRATEGIES AND THEN PARTNER DIRECTLY WITH THE PARTICIPATING ENTERPRISES TO HELP EXECUTE/OPERATIONALIZE THE STRATEGY. THE FOUNDATION WILL SUBSIDIZE 80% TO 90% OF THE COST.IN 2022 $500,448 WAS DISBURSED UNDER THIS PROGRAM AND $76,648 WAS REIMBURSED TO THE FOUNDATION BY PARTICIPATING ENTERPRISES.
IRS990PF/SummaryOfDirectChrtblActyGrp/Description2Txt0TRANSFORMATIVE DEVELOPMENT - THE FOUNDATION WILL LEVERAGE PHILANTHROPIC DOLLARS AND DEEP COMMUNITY RELATIONS IN COMMUNITIES THAT ARE FEELING THE PRESSURE OF DISPLACEMENT AND GENTRIFICATION. THE FOUNDATION SEEKS TO CONDUCT DEVELOPMENT THAT AUTHENTICALLY WORKS WITH COMMUNITY RESIDENTS AND ENSURES THAT THOSE WHO ARE TYPICALLY NOT AT THE DEVELOPMENT/DESIGN TABLE TO BE AT THE TABLE AND PARTICIPATE IN THE FUTURE DESIGN/DEVELOPMENT OF THEIR NEIGHBORHOOD. THE FOUNDATION WILL IDENTIFY COMMUNITIES AT EARLY STAGES OF FEELING THE PRESSURES OF GENTRIFICATION AND DISPLACEMENT AND HELP TO STRENGTHEN AND DEVELOP COMMUNITY ANCHOR INSTITUTIONS. THE FOCUS IS ON SUPPORTING LEADERSHIP TO ACTUALIZE TRANSFORMATIVE DEVELOPMENT THAT IN TURN INFLUENCES FURTHER DEVELOPMENT IN THE PARTICULAR COMMUNITY.
IRS990PF/SummaryOfDirectChrtblActyGrp/Description3Txt0RESPONSE TEAM IN MAY OF 2021, FBE PLACED ADDITIONAL FOCUS ON SUPPORTING COMMUNITIES OF COLOR WITH THE INTENTION OF STABILIZING AND MITIGATING RISKS AS A RESULT OF THE COVID-19 PANDEMIC. BUSINESS OWNERS WERE TO RECEIVE APPROXIMATELY 150 HOURS OVER SIX MONTHS OF BEST-IN-CLASS AND IN-DEPTH SUPPORT WITH MANAGING THEIR BUSINESS FROM A STRATEGIC SUPPORT TEAM (INCLUDING SPECIALISTS, AS NEEDED). FBE CONTINUES TO RELY ON ITS DEEP RELATIONSHIPS WITH STRATEGIC ADVISORS TO HELP COMPANIES WEATHER THE STORM. THESE TOOLS INCLUDE CASH DEPLOYMENTS, AFFORDABLE AND PATIENT LOANS, AND SOUND ADVICE. FBE PIVOTED THEIR MODEL TO DIRECTLY ADDRESS THE CRISIS BY DEPLOYING RESPONSE STRATEGY TEAMS WITH EXPERTISE IN TURN-AROUND SITUATIONS, SETTING UP A COVID-19 EMERGENCY FUND, COLLABORATING WITH CAPITAL PARTNERS ON LOAN PAYMENT DEFERMENTS & REPURPOSING OF CAPITAL FOR RELIEF, AND CONTINUING TO SERVE AS A CLEARINGHOUSE ON RESOURCES FOR LOCAL, STATE & FEDERAL SUPPORT SERVICES AND TOOLS.
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt0423800
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses2Amt0120000
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses3Amt086606
IRS990PF/SumOfProgramRelatedInvstGrp/TotalAmt00
IRS990PF/SupplementaryInformationGrp/OnlyContriToPreselectedInd0X
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriApprvFutAmt00
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd00
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1Txt0EASTERN BANK CHARITABLE FOUNDATION
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1Txt1BARR FOUNDATION
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1Txt2CUMMINGS FOUNDATION
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1Txt3MASS CHALLENGE
IRS990ScheduleB/ContributorInformationGrp/ContributorNum01
IRS990ScheduleB/ContributorInformationGrp/ContributorNum12
IRS990ScheduleB/ContributorInformationGrp/ContributorNum23
IRS990ScheduleB/ContributorInformationGrp/ContributorNum34
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt0195 MARKET STREET EP 5-01
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt12 ATLANTIC AVENUE
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt2200 W CUMMINGS PARK
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt310 FAN PIER BLVD 3RD FLOOR
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm0LYNN
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm1BOSTON
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm2WOBURN
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm3BOSTON
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd0MA
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd1MA
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd2MA
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd3MA
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd001901
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd102110
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd201801
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd302210
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd0X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd1X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd2X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd3X
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt01000000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt11500000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt250000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt37724
IRS990ScheduleB/GeneralRuleInd0X
IRS990ScheduleB/Organization501c3ExemptPFInd0X
LegalFeesSchedule/LegalFeesGrp/AdjustedNetIncomeAmt00
LegalFeesSchedule/LegalFeesGrp/CategoryTxt0SUNSTEIN LLP
LegalFeesSchedule/LegalFeesGrp/DisbursementsCharitablePrpsAmt08203
LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt08203
LegalFeesSchedule/LegalFeesGrp/NetInvestmentIncomeAmt00
LiquidationExplanationStmt/ExplanationTxt0IN CONNECTION WITH ITS MERGER WITH LOWELL COMMUNITY LOAN FUND, INC. (A/K/A "MILL CITIES COMMUNITY INVESTMENTS AND/OR "MCCI"), FBE TRANSFERRED ALL OF ITS PROPERTY TO LOWELL COMMUNITY LOAN FUND, INC., AND AS A RESULT HAD NO ASSETS FOLLOWING THE MERGER, WHEN IT TERMINATED AS A PRIVATE FOUNDATION. SUCH ASSETS WILL BE USED BY LOWELL COMMUNITY LOAN FUND, INC. FOR THE CHARITABLE PURPOSE SET FORTH IN ITS ARTICLES OF ORGANIZATION.
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt02885
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc0INTANGIBLE ASSETS
OtherDecreasesSchedule/OtherDecreasesDetail/Amt04752137
OtherDecreasesSchedule/OtherDecreasesDetail/Desc0ASSETS TRANSFERRED TO LOWELL COMMUNITY LOAN FUND, INC. UPON MERGER
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt00
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt10
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt20
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt30
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt40
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt50
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt60
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt70
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt80
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt90
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt100
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc0DISBURSEMENT TO PARTNERS (NET OF REIMBURSEMENTS FROM PARTICIPATING PARTNERS)

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