Civic Intelligence

Open Avenues Foundation

990 • Fiscal year 2019 • EIN 82-2344731

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileWWW.OPENAVENUESFOUNDATION.ORG
50 Milk Street Floor 15Boston, MA 02109

(978) 219-5040

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.16x

Higher debt load relative to assets than 82% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

83rd percentile

0.10x

Higher debt load relative to revenue than 83% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

8th percentile

-53%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

10th percentile

-46%

Faster asset growth than 10% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

8th percentile

-56%

Faster revenue growth than 8% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$76,715

Down $65,051 (-46%) from 2018

Net Assets

Down

$64,138

Down $64,687 (-50%) from 2018

Liabilities

Down

$12,577

Down $364 (-2.8%) from 2018

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin8th percentile

Revenue

Down

$122,393

Down $157,173 (-56%) from 2018

Expenses

Up

$187,079

Up $36,338 (+24%) from 2018

Net Income

Down

-$64,686

Down $193,511 (-150%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$1.5M$1.0M$500K$0Assets 2018: $141,766Liabilities 2018: $12,941Net Assets 2018: $128,8252018Assets 2019: $76,715Liabilities 2019: $12,577Net Assets 2019: $64,1382019Assets 2020: $77,148Liabilities 2020: $12,332Net Assets 2020: $64,8162020Assets 2021: $319,351Liabilities 2021: $38,159Net Assets 2021: $281,1922021Assets 2022: $493,810Liabilities 2022: $83,264Net Assets 2022: $410,5462022Assets 2023: $744,843Liabilities 2023: $368,020Net Assets 2023: $376,8232023Assets 2024: $1,420,774Liabilities 2024: $67,577Net Assets 2024: $1,353,1972024

Highlighted filing

2019

Assets$76,715
Liabilities$12,577
Net Assets$64,138
Open 2019 Filing

Operations Trend

Revenue Growth8th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $279,566Expenses 2018: $150,741Net Income 2018: $128,8252018Revenue 2019: $122,393Expenses 2019: $187,079Net Income 2019: -$64,6862019Revenue 2020: $192,227Expenses 2020: $191,549Net Income 2020: $6782020Revenue 2021: $946,534Expenses 2021: $719,350Net Income 2021: $227,1842021Revenue 2022: $2,031,173Expenses 2022: $1,901,819Net Income 2022: $129,3542022Revenue 2023: $4,244,093Expenses 2023: $4,277,816Net Income 2023: -$33,7232023Revenue 2024: $4,405,051Expenses 2024: $3,428,677Net Income 2024: $976,3742024

Highlighted filing

2019

Revenue$122,393
Expenses$187,079
Net Income-$64,686
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$122,393
Mission and Program Overview

Mission

Our mission is to build pathways for global talent to contribute to the united states' innovation economy and educate the future stem workforce. We bring industry-driven projects to universities to provide students with career-development training.

Open avenues foundation was founded in 2017 as a not-for-profit organization and commenced operations in massachusetts in january 2018. Open avenues foundation has a mission to equip and empower global talent to advance people and communities in the united states. Through immigrant-led programs, open avenues foundation aims to change the narrative about foreign nationals in the united states by demonstrating the value that foreign nationals bring to students, families, and communities.one of the ways open avenues foundation works to improve social and economic wellbeing of communities is through our next-gen talent catalyst (ngtc) program. Open avenues foundation hires top foreign talent working at high-growth stem companies in boston to lead hands-on, experiential learning projects with students. Through the ngtc foreign talent in boston helps to build skills and create new stem career opportunities for students at our partner universities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$138,903$74,259▼ $64,644
Prepaid Expenses and Deferred Charges$1,698$1,291▼ $407
Pledges and Grants Receivable$1,165$1,165→ $0
Total Assets$141,766$76,715▼ $65,051
Liabilities
Grants Payable$12,215$12,215→ $0
Accounts Payable and Accrued Expenses$726$362▼ $364
Total Liabilities$12,941$12,577▼ $364
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$102,999$64,138▼ $38,861
Net Assets With Donor Restrictions$25,826$0▼ $25,826
Total Net Assets Fund Balance$128,825$64,138▼ $64,687
Total Liabilities and Net Assets / Fund Balance$141,766$76,715▼ $65,051
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Jeff GoldmanBoard Chair/director
Judi GoldmanPresident
Danielle GoldmanTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$122,393
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$122,393
Change in Net Assets
$-64,686
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$167,911
Other Expenses$12,699
Salaries, Compensation, and Employee Benefits$6,469
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$167,911--$167,911
Fees for Services Accounting-$8,987-$8,987
Other Salaries and Wages-$5,874-$5,874
Insurance-$737-$737
Payroll Taxes-$595-$595
Information Technology-$468-$468
Other Expenses-$182-$182
Office Expenses-$52-$52
Total Functional Expenses$167,911$19,168$0$187,079
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 2

“The organization's board of directors consists of a husband, wife, and daughter.”

Form 990, Part VI, Section A, Line 8A

“There were no board of directors meetings held in 2018.”

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

“There were no board subcommittee meetings held in 2018.”

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

“The organization's board of directors is responsible for overseeing the preparation of the form 990.”

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

“Board members and key employees are made aware of the conflict of interest policy and issues are brought up at board meetings as they arise. An appropriate response based on the conflict of interest policy is determined at that time.”

Form 990, Part VI, Section C, Line 19

“Documents required to be available for public inspection are available by calling the organization and requesting the information to be sent to them. The form 990 and finanical statements are available to the public through the massachusetts attorney general's website and through guidestar.”

Filing and Contact Details

Filer

Filer Name
Open Avenues Foundation
EIN
82-2344731
Phone
9782195040
Address
50 MILK STREET FLOOR 15, BOSTON, MA 02109

Signing Officer

Name
Jeff Goldman Esq
Title
Board Chair
Phone
9782195040
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Goldman Esq
Formed
2017
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
2

Preparer

Firm
Litmangerson Associates Llp
Address
500 W CUMMINGS PARK SUITE 5650, WOBURN, MA 01801
Preparer
Scott Sagan
Phone
7815694700
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization accounts for the uncertainty in income taxes in accordance with fasb asc topic no. 740, income taxes (asc 740), which prescribes a recognition threshold of more likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the financial statements when necessary, the organization accounts for interest and penalties related to uncertain tax positions as part of its provision for income taxes. The organization does not expect that unrecognized tax benefits arising from tax positions will change significantly within the next 12 months.”

Raw XML Appendix325 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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IRS990/MissionDesc0OPEN AVENUES FOUNDATION WAS FOUNDED IN 2017 AS A NOT-FOR-PROFIT ORGANIZATION AND COMMENCED OPERATIONS IN MASSACHUSETTS IN JANUARY 2018. OPEN AVENUES FOUNDATION HAS A MISSION TO EQUIP AND EMPOWER GLOBAL TALENT TO ADVANCE PEOPLE AND COMMUNITIES IN THE U.S. THROUGH IMMIGRANT-LED PROGRAMS, OPEN AVENUES FOUNDATION AIMS TO CHANGE THE NARRATIVE ABOUT FOREIGN NATIONALS IN THE UNITED STATES BY DEMONSTRATING THE VALUE THAT FOREIGN NATIONALS BRING TO STUDENTS, FAMILIES, AND COMMUNITIES.ONE OF THE WAYS OPEN AVENUES FOUNDATION WORKS TO IMPROVE SOCIAL AND ECONOMIC WELLBEING OF COMMUNITIES IS THROUGH OUR NEXT-GEN TALENT CATALYST (NGTC) PROGRAM. OPEN AVENUES FOUNDATION HIRES TOP FOREIGN TALENT WORKING AT HIGH-GROWTH STEM COMPANIES IN BOSTON TO LEAD HANDS-ON, EXPERIENTIAL LEARNING PROJECTS WITH STUDENTS. THROUGH THE NGTC FOREIGN TALENT IN BOSTON HELPS TO BUILD SKILLS AND CREATE NEW STEM CAREER OPPORTUNITIES FOR STUDENTS AT OUR PARTNER UNIVERSITIES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH FASB ASC TOPIC NO. 740, INCOME TAXES (ASC 740), WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY-THAN-NOT, AND A MEASUREMENT ATTRIBUTE FOR ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN, IN ORDER FOR THOSE TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN NECESSARY, THE ORGANIZATION ACCOUNTS FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS AS PART OF ITS PROVISION FOR INCOME TAXES. THE ORGANIZATION DOES NOT EXPECT THAT UNRECOGNIZED TAX BENEFITS ARISING FROM TAX POSITIONS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT 12 MONTHS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE MAJORITY OF ASSISTANCE PROVIDED TO GRANT RECIPIENTS WERE DISBURSED ON A REIMBURSEMENT BASIS. THOSE DISBURSEMENTS WERE ACCOMPANIED BY RECEIPTS, DESCRIBED IN EXPENSE REPORTS, AND THEN APPROVED AT MULTIPLE LEVELS. FOR THE REMAINING ASSISTANCE PROVIDED, FUNDS WERE ISSUED IN ADVANCE OF THE EXPENSES BEING INCURRED TO PAY PROSPECTIVELY FOR SERVICES OR HOUSING COSTS. FOR THAT TYPE OF ASSISTANCE, THE ORGANIZATION RETAINED INVOICES FROM THIRD PARTY VENDORS, SIGNED LETTERS FROM FAMILIES AND VOLUNTEERS OF THE GRANT USE AND, IN CASES OF HOUSING, DOCUMENTATION OF A LEASE OR LETTER OF AGREEMENT FROM A LANDLORD THAT PAYMENT WAS EXPECTED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BOARD OF DIRECTORS CONSISTS OF A HUSBAND, WIFE, AND DAUGHTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE WERE NO BOARD OF DIRECTORS MEETINGS HELD IN 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE WERE NO BOARD SUBCOMMITTEE MEETINGS HELD IN 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSEEING THE PREPARATION OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS AND KEY EMPLOYEES ARE MADE AWARE OF THE CONFLICT OF INTEREST POLICY AND ISSUES ARE BROUGHT UP AT BOARD MEETINGS AS THEY ARISE. AN APPROPRIATE RESPONSE BASED ON THE CONFLICT OF INTEREST POLICY IS DETERMINED AT THAT TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION ARE AVAILABLE BY CALLING THE ORGANIZATION AND REQUESTING THE INFORMATION TO BE SENT TO THEM. THE FORM 990 AND FINANICAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AND THROUGH GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/ReturnTs02020-11-16T15:34:24-06:00
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ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$76,715
Liabilities
$12,577
Net assets
$64,138
Revenue
$122,393
Expenses
$187,079
Net income
-$64,686
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.42$0.07$1.35$4.41$3.43$0.98
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.37$0.38$4.24$4.28$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.08$0.41$2.03$1.90$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.32$0.04$0.28$0.95$0.72$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$0.01$0.06$0.19$0.19$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.08$0.01$0.06$0.12$0.19$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.01$0.13$0.28$0.15$0.13