Massachusetts Technology Leadership Council Inc
- Assets
- $1.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 12
- Location
- Lexington, MA
- Founding
- 09/1986
- Data as of
- 12/2021
- EIN
- 04-2910567
Organization Overview
Massachusetts Technology Leadership Council Inc is located in Lexington, MA. The organization was established in 1986. According to its NTEE Classification (W70) the organization is classified as: Leadership Development, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Massachusetts Technology Leadership Council Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Technology Leadership 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, Massachusetts Technology Leadership Council Inc generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 7 years. 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
TO ACCELERATE INNOVATION, GROWTH, AND THE DEVELOPMENT OF AN INCLUSIVE TECH ECOSYSTEM IN MASSACHUSETTS. WE DO THIS BY CONNECTING PEOPLE FROM ACCROSS THE TECHNOLOGY LANSCAPE, PROVIDING ACCESS TO INDUSTRY-LEADING CONTENT AND IDEAS, AND OFFERING A PLATFORM FOR MEMBERS TO ADVANCE THEIR COLLECTIVE INTERESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FOSTER ENTREPRENEURSHIP AND PROMOTE THE SUCCESS OF COMPANIES THAT DEVELOP AND DEPLOY TECHNOLOGY ACROSS INDUSTRY SECTORS.WE ACCOMPLISH OUR MISSION BY:CONDUCTING EDUCATIONAL PROGRAMS AND HOSTING SIGNATURE EVENTS.FACILITATING NETWORKING BETWEEN INDUSTRY EXECUTIVES AND POTENTIAL PARTNERS, INVESTORS, AND CUSTOMERS.SPONSORING RESEARCH ON THE INDUSTRY.ENGAGING IN ACTIVITIES TO ENHANCE THE QUALITY AND QUANTITY OF THE NEXT GENERATION OF TECHNOLOGY PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas E Hopcraft President & CEO | Officer | 40 | $170,000 |
Kathryn Mcleod Vice President | Officer | 39.5 | $132,000 |
Sara Fraim Vice President, Programs & Policy | Trustee | 39.5 | $100,000 |
Kristen Keane Member Development | Trustee | 40 | $70,191 |
Yogesh Gupta Executive Committee & Co-C | OfficerTrustee | 0 | $0 |
Dan Davis CFO | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $950,135 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| 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 | $960,135 |
| Total Program Service Revenue | $672,753 |
| Investment income | $47 |
| 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 | $1,632,935 |
| 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. | $302,000 |
| Compensation of current officers, directors, key employees. | $170,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $630,771 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $61,487 |
| Payroll taxes | $71,795 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,578 |
| Advertising and promotion | $47,608 |
| Office expenses | $7,627 |
| Information technology | $31,215 |
| Royalties | $0 |
| Occupancy | $52,006 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,282 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,404 |
| Insurance | $0 |
| All other expenses | $7,510 |
| Total functional expenses | $1,392,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $594,567 |
| Savings and temporary cash investments | $517,364 |
| Pledges and grants receivable | $12,935 |
| Accounts receivable, net | $278,635 |
| 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 | $26,212 |
| Net Land, buildings, and equipment | $5,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,800 |
| Total assets | $1,443,602 |
| Accounts payable and accrued expenses | $1,325 |
| Grants payable | $0 |
| Deferred revenue | $703,368 |
| 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 | $360,642 |
| Total liabilities | $1,065,335 |
| Net assets without donor restrictions | $378,267 |
| Net assets with donor restrictions | $0 |
| 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 | $1,443,602 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Massachusetts Technology Leadership Council Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Akamai Foundation Inc Cambridge, MA PURPOSE: TECHNOVATION CHALLENGE, A FLAGSHIP PROGRAM OF NON-PROFIT IRIDESCENT, AND THE AFFILIATED MASSTLC ED FOUNDATION INDUSTRY-LED WORKSHOPS | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glynwood Center Inc Cold Spring, NY | $32,242,454 | $4,913,173 |
Lubetzky Family Foundation New York, NY | $3,686,685 | $1,229,616 |
Games For Change Inc New York, NY | $620,574 | $3,036,460 |
Community Training And Assistance Center Inc Boston, MA | $3,090,991 | $2,699,211 |
School Of Leadership-Afghanistan Inc Boston, MA | $18,498,696 | $9,621,061 |
Root Cause Institute Inc Cambridge, MA | $1,560,820 | $1,770,100 |
Massachusetts Technology Leadership Council Inc Lexington, MA | $1,443,602 | $1,632,935 |
Leadership Rhode Island Educational Foundation Providence, RI | $1,360,097 | $1,459,268 |
Chumir Foundation For Ethics In Leadership New York, NY | $106,762 | $800,000 |
Leadership Greater Hartford Inc Hartford, CT | $581,810 | $1,120,573 |
Arttable Inc New York, NY | $582,344 | $733,623 |
Five Frogs Inc Fairfield, CT | $413,547 | $579,821 |