Civic Intelligence

Open Avenues Foundation

990 • Fiscal year 2020 • EIN 82-2344731

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 25, 2021

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

78th percentile

0.16x

Higher debt load relative to assets than 78% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.06x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

42nd percentile

0.4%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

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.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

45th percentile

0.6%

Faster asset growth than 45% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

57%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$77,148

Up $433 (+0.6%) from 2019

Net Assets

Up

$64,816

Up $678 (+1.1%) from 2019

Liabilities

Down

$12,332

Down $245 (-1.9%) from 2019

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin42nd percentile

Revenue

Up

$192,227

Up $69,834 (+57%) from 2019

Expenses

Up

$191,549

Up $4,470 (+2.4%) from 2019

Net Income

Up

$678

Up $65,364 (+101%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth45th 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

2020

Assets$77,148
Liabilities$12,332
Net Assets$64,816
Open 2020 Filing

Operations Trend

Revenue Growth89th 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

2020

Revenue$192,227
Expenses$191,549
Net Income$678
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 25, 2021
Return Version
2020v4.1
Gross Receipts
$192,227
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.

In 2020, open avenues foundation provided project-based learning for over 100 students at three universities in stem fields in massachusetts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$74,259$67,598▼ $6,661
Pledges and Grants Receivable$1,165$8,259▲ $7,094
Prepaid Expenses and Deferred Charges$1,291$1,291→ $0
Total Assets$76,715$77,148▲ $433
Liabilities
Grants Payable$12,215$12,215→ $0
Accounts Payable and Accrued Expenses$362$117▼ $245
Total Liabilities$12,577$12,332▼ $245
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$64,138$64,816▲ $678
Total Net Assets Fund Balance$64,138$64,816▲ $678
Total Liabilities and Net Assets / Fund Balance$76,715$77,148▲ $433
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Jeff GoldmanPresident
Danielle GoldmanSecretary
Amy Green StephensTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$192,227
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$192,227
Change in Net Assets
$678
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$128,117
Other Expenses$38,375
Salaries, Compensation, and Employee Benefits$25,057
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$128,117--$128,117
Fees for Services Legal-$21,200-$21,200
Other Salaries and Wages-$17,435-$17,435
Payroll Taxes-$7,622-$7,622
Insurance-$6,079-$6,079
Fees for Services Accounting-$3,767-$3,767
Advertising-$2,084-$2,084
Information Technology-$459-$459
Other Expenses-$360-$360
Office Expenses-$83-$83
Occupancy-$65-$65
Total Functional Expenses$128,117$63,432$0$191,549
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 2020.”

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

“There were no board subcommittee meetings held in 2020.”

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
President
Phone
9782195040
Signed
2021-06-25
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
1

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 Appendix322 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/ActivityOrMissionDesc0IN 2020, OPEN AVENUES FOUNDATION PROVIDED PROJECT-BASED LEARNING FOR OVER 100 STUDENTS AT THREE UNIVERSITIES IN STEM FIELDS IN MASSACHUSETTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/MissionDesc0OUR MISSION IS TO BUILD PATHWAYS FOR GLOBAL TALENT TO CONTRIBUTE TO THE UNITED STATES' INNOVATION ECONOMY AND EDUCATE THE FUTURE STEM WORKFORCE.
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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:
IRS990/ScheduleJRequiredInd00
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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 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE WERE NO BOARD SUBCOMMITTEE MEETINGS HELD IN 2020.
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/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$77,148
Liabilities
$12,332
Net assets
$64,816
Revenue
$192,227
Expenses
$191,549
Net income
$678
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
2020Detailed filing. Detailed filing data is available for this year.$0.08$0.01$0.06$0.19$0.19$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$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