Massachusetts Restaurant Association Educational Foundation
- Assets
- $860.1k
- Revenue
- $394.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Westborough, MA
- Founding
- 10/1999
- Data as of
- 06/2021
- EIN
- 04-3478931
Organization Overview
Massachusetts Restaurant Association Educational Foundation is located in Westborough, MA. The organization was established in 1999. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Restaurant Association Educational Foundation 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 06/2021, Massachusetts Restaurant Association Educational Foundation generated $394.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $311.8k during the year ending 06/2021. While expenses have increased by 3.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL PROGRAMS FOR HIGH SCHOOL STUDENTS AND DEVELOPMENT AND CONTINUING EDUCATION FOR MEMBERS OF THE FOOD SERVICE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ADMINISTERS THE PROSTART EDUCATION PROGRAM IN 23 HIGH SCHOOLS THROUGHOUT MASSACHUSETTS. PROFESSIONAL DEVELOPMENT DAYS FOR THE TEACHERS AS WELL AS CLASSROOM SUPPORT IS PROVIDED. THE EDUCATIONAL NEED OF MEMBERS ARE MET THROUGH CLASSES IN SAVING ENERGY, GOING GREEN, BASIC ACCOUNTING, SERVICE, SOCIAL MEDIA MARKETING, MARKETING, ETC. THE FOUNDATION ALSO PRODUCES EIGHT SEMINARS AT THE ANNUAL NEW ENGLAND FOOD SHOW AND OFFERS A MANAGEMENT SYMPOSIUM EVERY OTHER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Prestejohn President | OfficerTrustee | $0 | |
Greg Witmer Vice Preside | OfficerTrustee | $0 | |
Karen Coleman Treasurer | OfficerTrustee | $0 | |
Patrick Lee Past Chairma | OfficerTrustee | $0 | |
Denise Herrera First Vice P | OfficerTrustee | $0 | |
Robert Luz Executive Di | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $328,123 |
| Investment income | $5,485 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,058 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,432 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $394,848 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $94,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,393 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,869 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,362 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,800 |
| Travel | $3,500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,985 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $311,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $447,475 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,993 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $409,665 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $860,133 |
| Accounts payable and accrued expenses | $56,712 |
| 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 | $0 |
| Total liabilities | $56,712 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $803,421 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Massachusetts Restaurant Association Educational Foundation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $2,000 |
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