Massachusetts Alliance For Economic Development
- Assets
- $510.7k
- Revenue
- $491.2k
- Investments
- $72.0
- Employees
- 4
- Location
- Watertown, MA
- Founding
- 08/1995
- Data as of
- 06/2021
- EIN
- 04-3172007
Organization Overview
Massachusetts Alliance For Economic Development is located in Watertown, MA. The organization was established in 1995. 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 06/2021, Massachusetts Alliance For Economic Development employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Alliance For Economic Development 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 06/2021, Massachusetts Alliance For Economic Development generated $491.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $519.1k during the year ending 06/2021. 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
PROVIDES PROGRAMS AND SERVICES TO SUPPORT THE RETENTION AND GROWTH OF BUSINESS AND JOBS IN MASSACHUSETTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING MASSACHUSETTS BY PROVIDING INFORMATION SERVICES TO COMPANIES SEEKING TO EXPAND WITHIN OR RELOCATE TO MASSACHUSETTS; ENHANCE JOB CREATION AND ECONOMIC BASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Abair Executive Director | Officer | 40 | $164,923 |
Douglas Kehlhem Senior Director | 40 | $105,246 | |
Stephen Flavin Chairman | OfficerTrustee | 1 | $0 |
Michael Scott Clerk | OfficerTrustee | 1 | $0 |
Bonnie Sullivan Treasurer | OfficerTrustee | 1 | $0 |
Geoff Howell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $270,116 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $64,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $356,016 |
| Total Program Service Revenue | $134,965 |
| Investment income | $212 |
| 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 | $491,193 |
| 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. | $165,501 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $192,169 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,678 |
| Payroll taxes | $28,076 |
| 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 | $16,953 |
| Advertising and promotion | $5,001 |
| Office expenses | $32,107 |
| Information technology | $3,930 |
| Royalties | $0 |
| Occupancy | $17,637 |
| Travel | $87 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,915 |
| All other expenses | $0 |
| Total functional expenses | $519,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $321 |
| Savings and temporary cash investments | $409,587 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,350 |
| 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 | $315 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $72 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,102 |
| Total assets | $510,747 |
| Accounts payable and accrued expenses | $247 |
| Grants payable | $0 |
| Deferred revenue | $29,667 |
| 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 | $0 |
| Total liabilities | $29,914 |
| Net assets without donor restrictions | $480,833 |
| 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 | $510,747 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
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 |