Civic Intelligence

Hubweek Inc

990 • Fiscal year 2019 • EIN 84-2151766

Jun 18, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

Organization ProfileN/A
1 Exchange Place No 201Boston, MA 02109

(978) 729-3533

Siviq Scores

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

Liabilities / Assets

95th percentile

1.34x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.64x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

89th percentile

$192,421

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

$1,085,405

No earlier filing loaded for comparison.

Net Assets

-$366,544

No earlier filing loaded for comparison.

Liabilities

$1,451,949

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin16th percentile

Revenue

$2,280,363

No earlier filing loaded for comparison.

Expenses

$2,646,907

No earlier filing loaded for comparison.

Net Income

-$366,544

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2019: $1,085,405Liabilities 2019: $1,451,949Net Assets 2019: -$366,5442019Assets 2020: $343,873Liabilities 2020: $1,373,469Net Assets 2020: -$1,029,5962020Assets 2021: $966,556Liabilities 2021: $1,221,729Net Assets 2021: -$255,1732021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2019

Assets$1,085,405
Liabilities$1,451,949
Net Assets-$366,544
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $2,280,363Expenses 2019: $2,646,907Net Income 2019: -$366,5442019Revenue 2020: $385,068Expenses 2020: $1,048,120Net Income 2020: -$663,0522020Revenue 2021: $899,423Expenses 2021: $125,000Net Income 2021: $774,4232021Revenue 2022: $295,268Expenses 2022: $40,095Net Income 2022: $255,1732022

Highlighted filing

2019

Revenue$2,280,363
Expenses$2,646,907
Net Income-$366,544
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 18, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.1
Gross Receipts
$2,280,363
Mission and Program Overview

Mission

Hubweek inc. Is an organization dedicated to igniting and unleashing the potential of boston. We guide and gather the doers, dreamers, and makers that define who we are as a city and what our future will be. Our purpose is to help build a better future for the city of boston. Hubweek, inc. Creates and curates events, programming, and content with the goal of building community and educating the public on developments and opportunities at the intersection of art, science and technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$754,692-
Pledges and Grants Receivable-$306,837-
Prepaid Expenses and Deferred Charges-$17,068-
Total Assets$0$1,085,405▲ $1,085,405
Other Assets Total$0$6,808▲ $6,808
Liabilities
Other Liabilities$0$1,401,994▲ $1,401,994
Accounts Payable and Accrued Expenses-$49,955-
Total Liabilities$0$1,451,949▲ $1,451,949
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,000,000-
Net Assets Without Donor Restrictions-$-1,366,544-
Total Net Assets Fund Balance$0$-366,544▼ $366,544
Total Liabilities and Net Assets / Fund Balance$0$1,085,405▲ $1,085,405
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleOtherTotal
Ryan WalshTreasurer/ Clerk$118,088$118,088

Board Members and Trustees

NameTitle
Brendan RyanPresident
Amy RollinsDirector
Brian McgroryDirector
Jessie SmithDirector
Kathleen KennedyDirector
Linda Pizzuti HenryDirector
Margaret E NewellDirector
Marguerite Louise SlasmanDirector
Timothy Gregg FerrisDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,280,363
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,280,363
Change in Net Assets
$-366,544

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,280,363
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,280,363
Total Revenue per Form 990
$2,280,363
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,516,602
Salaries, Compensation, and Employee Benefits$1,130,305
Total Fundraising Expense$215,296
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$622,771$64,303$139,242$826,316
Current Officers, Directors, Trustees, and Key Employees$151,995$75,997$75,997$303,989
Fees for Services Other$29,636$51,106-$80,742
Conferences and Meetings$49,494$17,842-$67,336
Occupancy-$40,600-$40,600
Office Expenses$35,623$980$40$36,643
Travel$18,193$7,659$17$25,869
Fees for Services Legal-$24,975-$24,975
Fees for Services Accounting-$24,566-$24,566
Information Technology$4,628$4,795-$9,423
Insurance-$7,882-$7,882
Other Expenses$504,030$70-$70
Total Functional Expenses$1,458,184$973,427$215,296$2,646,907

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,646,907
Total Expenses per Audited Statements$2,646,907
Total Expenses per Form 990$2,646,907
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$1,401,994
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Hubweek entered into an administrative support and credit agreement with boston globe media partners, llc. (the globe). The globe is the employer of record of all hubweek employees and provide payroll, benefits management and administrative and related services for these employees.”

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

“The 990 is reviewed by management and the board of directors before it is filed.”

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

“Hubweek has a conflict of interest policy that is distributed to staff and management to review yearly. This policy is kept in the hubweek employee handbook adopted from the globe and policies and procedures document.”

Form 990, Part VI, Section B, Line 15

“Ceo and key employee salaries are determined using the current market rate for the position (factoring relative experience) being applied for and reviewed by the board of directors.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Hubweek Inc
EIN
84-2151766
Phone
9787293533
Address
1 EXCHANGE PLACE NO 201, BOSTON, MA 02109

Signing Officer

Name
Ryan Walsh
Title
Treasurer
Phone
9787293533
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ryan Walsh
Formed
2019
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Joyce Ripianzi CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The board of directors assumes responsibility for oversight of the audit and selection of independent accountants.”

Financial Statement Notes

PART X, LINE 2:

“The organization accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. The organization has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the accompanying financial statements at december 31, 2019. The organization's information returns are subject to examination by the federal and state jurisdictions.”

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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt081599
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01392614
IRS990ScheduleA/SubstantialContributorsTotAmt0806150
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02198764
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02198764
IRS990ScheduleA/TotalSupportAmt02198764
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02646907
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01401994
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02280363
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS AT DECEMBER 31, 2019. THE ORGANIZATION'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRENDAN RYAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0192421
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HUBWEEK ENTERED INTO AN ADMINISTRATIVE SUPPORT AND CREDIT AGREEMENT WITH BOSTON GLOBE MEDIA PARTNERS, LLC. (THE GLOBE). THE GLOBE IS THE EMPLOYER OF RECORD OF ALL HUBWEEK EMPLOYEES AND PROVIDE PAYROLL, BENEFITS MANAGEMENT AND ADMINISTRATIVE AND RELATED SERVICES FOR THESE EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY MANAGEMENT AND THE BOARD OF DIRECTORS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HUBWEEK HAS A CONFLICT OF INTEREST POLICY THAT IS DISTRIBUTED TO STAFF AND MANAGEMENT TO REVIEW YEARLY. THIS POLICY IS KEPT IN THE HUBWEEK EMPLOYEE HANDBOOK ADOPTED FROM THE GLOBE AND POLICIES AND PROCEDURES DOCUMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CEO AND KEY EMPLOYEE SALARIES ARE DETERMINED USING THE CURRENT MARKET RATE FOR THE POSITION (FACTORING RELATIVE EXPERIENCE) BEING APPLIED FOR AND REVIEWED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt02646907
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IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TravelGrp/FundraisingAmt017
IRS990/TravelGrp/ManagementAndGeneralAmt07659
IRS990/TravelGrp/ProgramServicesAmt018193
IRS990/TravelGrp/TotalAmt025869
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002109
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RYAN WALSH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09787293533
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-12
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ReturnHeader/FilingSecurityInformation/IPDt02020-11-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm010:46:31
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AAFCPAS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 WASHINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH

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
$1,085,405
Liabilities
$1,451,949
Net assets
-$366,544
Revenue
$2,280,363
Expenses
$2,646,907
Net income
-$366,544
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.30$0.04$0.26
2021Detailed filing. Detailed filing data is available for this year.$0.97$1.22$0.26$0.90$0.13$0.77
2020Detailed filing. Detailed filing data is available for this year.$0.34$1.37$1.03$0.39$1.05$0.66
2019Detailed filing. Detailed filing data is available for this year.$1.09$1.45$0.37$2.28$2.65$0.37