Massachusetts Adoption Resource Exchange Inc
- Assets
- $904.7k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Newton, MA
- Founding
- 09/1976
- Data as of
- 06/2023
- EIN
- 04-2227431
Organization Overview
Massachusetts Adoption Resource Exchange Inc is located in Newton, MA. The organization was established in 1976. According to its NTEE Classification (P31) the organization is classified as: Adoption, under the broad grouping of Human Services and related organizations. As of 06/2023, Massachusetts Adoption Resource Exchange Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Adoption Resource Exchange Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Massachusetts Adoption Resource Exchange Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. While expenses have increased by 5.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FINDING ADOPTIVE HOMES FOR CHILDREN BY MATCHING CHILDREN WITH POTENTIAL ADOPTIVE PARENTS AND PROVIDING INFORMATION ON CHILDREN AWAITING ADOPTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINDING ADOPTIVE HOMES FOR CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Aronson Co-President | OfficerTrustee | 1 | $0 |
Shawn Mcninch Co-President | OfficerTrustee | 1 | $0 |
Stephen Briggs Treasurer | OfficerTrustee | 1 | $0 |
Kelli Powell Clerk | OfficerTrustee | 1 | $0 |
Bridget Chiaruttini Executive Director | OfficerTrustee | 35 | $115,410 |
Dana Lehman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Insurance | 6/29/23 | $160,987 |
Ubc5 Equity Partners Lease Expense | 6/29/23 | $148,470 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $903,153 |
| Noncash contributions included in lines 1a–1f | $6,220 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $903,153 |
| Total Program Service Revenue | $849,673 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $116,454 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,869,280 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $134,766 |
| Compensation of current officers, directors, key employees. | $9,711 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,179,006 |
| Pension plan accruals and contributions | $15,983 |
| Other employee benefits | $126,609 |
| Payroll taxes | $104,576 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,638 |
| Advertising and promotion | $4,677 |
| Office expenses | $78,077 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $143,784 |
| Travel | $24,565 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,353 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,147 |
| Insurance | $14,740 |
| All other expenses | $0 |
| Total functional expenses | $1,910,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $617,483 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,806 |
| 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 | $0 |
| Net Land, buildings, and equipment | $16,511 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $199,873 |
| Total assets | $904,673 |
| Accounts payable and accrued expenses | $104,607 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $197,561 |
| Total liabilities | $302,168 |
| Net assets without donor restrictions | $471,614 |
| Net assets with donor restrictions | $130,891 |
| 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 | $904,673 |