Civic Intelligence

Tie-Boston Foundation Inc.

990 • Fiscal year 2023 • EIN 83-2946128

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 04, 2024

Organization ProfileN/A
One Broadway 5th Floor CicCambridge, MA 02142

(617) 310-6078

Siviq Scores

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

Liabilities / Assets

85th percentile

0.21x

Higher debt load relative to assets than 85% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.50x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

17th percentile

-25%

Higher net margin than 17% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

98th percentile

$96,554

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 53.1% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

32nd percentile

-10%

Faster asset growth than 32% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

21st percentile

-25%

Faster revenue growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$424,191

Down $48,639 (-10%) from 2022

Net Assets

Down

$333,276

Down $44,569 (-12%) from 2022

Liabilities

Down

$90,915

Down $4,070 (-4.3%) from 2022

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin17th percentile

Revenue

Down

$181,788

Down $60,950 (-25%) from 2022

Expenses

Up

$226,357

Up $994 (+0.4%) from 2022

Net Income

Down

-$44,569

Down $61,944 (-357%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$600K$400K$200K$0Assets 2018: $20,000Liabilities 2018: $02018Assets 2019: $339,982Liabilities 2019: $69,557Net Assets 2019: $270,4252019Assets 2020: $404,165Liabilities 2020: $54,875Net Assets 2020: $349,2902020Assets 2021: $427,093Liabilities 2021: $66,623Net Assets 2021: $360,4702021Assets 2022: $472,830Liabilities 2022: $94,985Net Assets 2022: $377,8452022Assets 2023: $424,191Liabilities 2023: $90,915Net Assets 2023: $333,2762023Assets 2024: $371,029Liabilities 2024: $93,336Net Assets 2024: $277,6932024

Highlighted filing

2023

Assets$424,191
Liabilities$90,915
Net Assets$333,276
Open 2023 Filing

Operations Trend

Revenue Growth21st percentile

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

$400K$200K$0-$200KRevenue 2018: $20,000Expenses 2018: $0Net Income 2018: $20,0002018Revenue 2019: $354,349Expenses 2019: $103,924Net Income 2019: $250,4252019Revenue 2020: $244,451Expenses 2020: $165,586Net Income 2020: $78,8652020Revenue 2021: $155,002Expenses 2021: $156,623Net Income 2021: -$1,6212021Revenue 2022: $242,738Expenses 2022: $225,363Net Income 2022: $17,3752022Revenue 2023: $181,788Expenses 2023: $226,357Net Income 2023: -$44,5692023Revenue 2024: $183,328Expenses 2024: $238,911Net Income 2024: -$55,5832024

Highlighted filing

2023

Revenue$181,788
Expenses$226,357
Net Income-$44,569
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 4, 2024
Return Version
2023v5.0
Gross Receipts
$181,788
Mission and Program Overview

Mission

To encourage, support and nurtue entrepreneurship amoung young professionals by providing educational, mentoring, and other assistance.

To enhance, support, and nurture entrepreneurship among young professionals by providing education, mentoring, and other assistance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$469,729$419,058▼ $50,671
Prepaid Expenses and Deferred Charges$2,641$2,333▼ $308
Accounts Receivable-$2,275-
Total Assets$472,830$424,191▼ $48,639
Other Assets Total$460$525▲ $65
Liabilities
Deferred Revenue$51,825$75,562▲ $23,737
Accounts Payable and Accrued Expenses$43,160$15,353▼ $27,807
Total Liabilities$94,985$90,915▼ $4,070
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$377,845$333,276▼ $44,569
Total Net Assets Fund Balance$377,845$333,276▼ $44,569
Total Liabilities and Net Assets / Fund Balance$472,830$424,191▼ $48,639
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Rowena Kay MascarenhasExecutive DiPT$96,554$96,554

Board Members and Trustees

NameTitle
Yash ShahPresident
Anu ChitrapuDirector
Anupendra SharmaDirector
Geetha SreedharDirector
Guarav MallikDirector
Megha DesaiDirector
Sangeeta MorrjaniDirector
Shirish NimgaonkarDirector
Thomas ArulDirector
Venkat MarojuDirector
Emily Ladd-kravitzFormer Secre
David BarbashSecretary
Rakesh KamdarTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$70,000
Program Service Revenue
$111,788
Investment Income
$0
Other Revenue
$0
All Other Contributions
$70,000
Change in Net Assets
$-44,569

Audited Revenue Reconciliation

Revenue per Audited Statements
$181,788
Revenue Not Reported on Form 990
$36,565
Total Revenue per Audited Statements
$218,353
Total Revenue per Form 990
$181,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$113,969
Salaries, Compensation, and Employee Benefits$112,388
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$78,172$18,293-$96,465
Fees for Services Other$27,189$9,524-$36,713
Conferences and Meetings$12,273$3,746-$16,019
Fees for Services Management-$15,625-$15,625
Payroll Taxes$6,542$3,428-$9,970
Occupancy$2,727$6,252-$8,979
Other Expenses$8,936$11,984-$8,936
Office Expenses-$6,717-$6,717
Other Employee Benefits$4,800$1,153-$5,953
Advertising$500$3,308-$3,808
Fees for Services Accounting-$2,133-$2,133
Insurance-$1,624-$1,624
Travel-$1,431-$1,431
Total Functional Expenses$141,139$85,218$0$226,357

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$262,922
Expenses per Audited Statements$226,357
Total Expenses per Form 990$226,357
Expenses Not Reported on Form 990$36,565
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Page 6, Part VI, Line 11B

“Form 990 is available to all”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Tie-boston Foundation Inc
EIN
83-2946128
Phone
6173106078
Address
ONE BROADWAY 5TH FLOOR CIC, CAMBRIDGE, MA 02142

Signing Officer

Name
Yash Shah
Title
President
Phone
6173106078
Signed
2024-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yash Shah
Formed
2018
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
1
Volunteers
20

Preparer

Firm
Anstiss & Co Pc
Address
6 OMNI WAY STE 201, CHELMSFORD, MA 01824-4187
Preparer
Jayne a Andrews
Phone
9784522500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Subcontracting fees 27,189 9,524 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization, incorporated under chapter 180 of the massachusetts general laws as a tax-exempt entity, has been granted tax-exempt status under internal revenue code (irc) section 501(c)(3). Therefore, it is generally exempt from federal and state income taxes. Accordingly, no provision for income taxes has been provided for in the accompanying financial statements. The organization is required by asc 740-10, "accounting for uncertainty in income taxes," to evaluate and disclose tax positions that could have an effect on the organization's financial statements. The organization reports its activities to the internal revenue service on an anual basis. These informational returns are generally subject to audit and review by the governmental agencies for a period of three years after filing. The organization believes it is no longer subject to review by taxing authorities for periods before 2020. Substantially all of the organization's income, expenditues and activities relate to its exempt purpose. Therefore, management has determined that the organization is not subject to unrelated business income taxes and will continue to qualify as a tax-exempt not-for-profit entity.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION, INCORPORATED UNDER CHAPTER 180 OF THE MASSACHUSETTS GENERAL LAWS AS A TAX-EXEMPT ENTITY, HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3). THEREFORE, IT IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED FOR IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION IS REQUIRED BY ASC 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES," TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE ON AN ANUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENERALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. THE ORGANIZATION BELIEVES IT IS NO LONGER SUBJECT TO REVIEW BY TAXING AUTHORITIES FOR PERIODS BEFORE 2020. SUBSTANTIALLY ALL OF THE ORGANIZATION'S INCOME, EXPENDITUES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE. THEREFORE, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS A TAX-EXEMPT NOT-FOR-PROFIT ENTITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS AVAILABLE TO ALL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SUBCONTRACTING FEES 27,189 9,524 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$424,191
Liabilities
$90,915
Net assets
$333,276
Revenue
$181,788
Expenses
$226,357
Net income
-$44,569
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.71$0.93$2.78$1.83$2.39$0.56
2023Detailed filing. Detailed filing data is available for this year.$4.24$0.91$3.33$1.82$2.26$0.45
2022Detailed filing. Detailed filing data is available for this year.$4.73$0.95$3.78$2.43$2.25$0.17
2021Detailed filing. Detailed filing data is available for this year.$4.27$0.67$3.60$1.55$1.57$0.02
2020Detailed filing. Detailed filing data is available for this year.$4.04$0.55$3.49$2.44$1.66$0.79
2019Detailed filing. Detailed filing data is available for this year.$3.40$0.70$2.70$3.54$1.04$2.50
2018Summary only. Only limited summary data is available for this year.$0.20$0.00$0.20$0.00$0.20