New England Council Inc
- Assets
- $13.4m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 16
- Location
- Boston, MA
- Founding
- 09/1942
- Data as of
- 12/2021
- EIN
- 04-1661090
Organization Overview
New England Council Inc is located in Boston, MA. The organization was established in 1942. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, New England Council Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New England Council Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, New England Council Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEW ENGLAND COUNCIL IS AN ALLIANCE OF BUSINESSES, ACADEMIC AND HEALTH INSTITUTIONS, AND PUBLIC AND PRIVATE ORGANIZATIONS THROUGHOUT NEW ENGLAND, FORMED TO PROMOTE ECONOMIC GROWTH AND A HIGH QUALITY OF LIFE IN THE NEW ENGLAND REGION. THE COUNCIL IS DEDICATED TO IDENTIFYING AND SUPPORTING FEDERAL PUBLIC POLICIES AND ARTICULATING THE VOICE OF ITS MEMBERSHIP REGIONALLY AND NATIONALLY ON IMPORTANT ISSUES FACING NEW ENGLAND. THE NEW ENGLAND COUNCIL IS ALSO COMMITTED TO WORKING WITH PUBLIC AND PRIVATE SECTOR LEADERS ACROSS THE REGION AND IN WASHINGTON THROUGH EDUCATIONAL PROGRAMS AND FORUMS FOR INFORMATION EXCHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COUNCIL'S MEMBERSHIP REPRESENTS OVER NEARLY 600 BUSINESSES AND ORGANIZATIONS. OVER 50 PROGRAMS WERE HELD THROUGHOUT THE YEAR FOR THE COUNCIL'S MEMBERS TO ATTEND IN PERSON OR PARTICIPATE IN VIRTUALLY. NUMEROUS PROGRAMS WERE HOSTED WITH MEMBERS OF BOTH THE HOUSE AND SENATE FROM ALL SIX NEW ENGLAND STATES, INCLUDING MEMBERS BEYOND THE NEW ENGLAND REGION, GOVERNORS, FEDERAL OFFICIALS, FOREIGN AMBASSADORS, AND EXPERTS FROM WITHIN OUR OWN MEMBERSHIP. OUR SIGNATURE ANNUAL DINNER TRANSITIONED TO A VIRTUAL EVENT CELEBRATION AND WAS VIEWED BY COUNCIL MEMBERS AND GUESTS TO HONOR INSPIRING NEW ENGLANDERS OF THE YEAR. THE COUNCIL PARTICIPATED IN MONTHLY PUBLIC AFFAIRS DISCUSSIONS AND, PRODUCED E-NEWSLETTERS, AN ANNUAL REPORT AND OTHER PUBLICATIONS FOR ITS MEMBERSHIP COVERING THE COUNCIL'S POLICY STATEMENTS, ADVOCACY AND INITIATIVES. THE COUNCIL'S POLICY COMMITTEES AND WORKING GROUPS ACTIVELY ADVOCATED ON A VARIETY OF BIPARTISAN POLICIES THAT IMPACTED THE ECONOMIC WELL-BEING OF THE NEW ENGLAND REGION. THE COUNCIL COLLABORATED WITH MEMBER ORGANIZATIONS ON INITIATIVES TO PROMOTE INNOVATION AND ECONOMIC GROWTH, FOSTER A POSITIVE BUSINESS CLIMATE AND ENSURE THAT THE NEW ENGLAND REGION HAS A TALENTED WORKFORCE NEEDED TO COMPETE IN THE GLOBAL ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James T Brett President/ceo | OfficerTrustee | 40 | $865,499 |
Lawrence E Zabar Executive Vice President | Officer | 40 | $392,742 |
Emily Heisig SVP Communication | 40 | $187,717 | |
Pamela Seymour SVP Finance & Admin | 40 | $134,334 | |
John T Hailer Chairman | OfficerTrustee | 1 | $0 |
Patricia Jacobs Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,324,214 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,324,214 |
| Total Program Service Revenue | $1,618,840 |
| Investment income | $52,027 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,995,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,128 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,423,093 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $796,437 |
| Pension plan accruals and contributions | $63,399 |
| Other employee benefits | $158,806 |
| Payroll taxes | $107,612 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,019 |
| Fees for services: Lobbying | $24,314 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $128,132 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $262,925 |
| Travel | $36,741 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $400 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,366 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,167,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,236,081 |
| Savings and temporary cash investments | $2,241,801 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $290,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $132,432 |
| Net Land, buildings, and equipment | $32,052 |
| Investments—publicly traded securities | $3,535,635 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,921,866 |
| Total assets | $13,389,867 |
| Accounts payable and accrued expenses | $99,681 |
| Grants payable | $0 |
| Deferred revenue | $273,826 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,937,087 |
| Total liabilities | $3,310,594 |
| Net assets without donor restrictions | $9,886,636 |
| Net assets with donor restrictions | $192,637 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,389,867 |
Grants Awarded
Over the last fiscal year, New England Council Inc has awarded $15,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: SPONSORSHIP 2020 SPIRIT OF JA CELEBRATION APRIL | $5,000 |
Boston, MA PURPOSE: SPONSORSHIP 2020 ANNUAL MAY DINNER | $5,000 |
Boston, MA PURPOSE: SPONSORSHIP 2020 BIG CHEESE READS GALA | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New England Council Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Aarp Washington, DC PURPOSE: Sponsorship of various events | $15,000 |
Curry College Milton, MA PURPOSE: SPONSORSHIP | $10,000 |
Fallon Community Health Plan Inc Worcester, MA PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |