Zero Debt Massachusetts
- Assets
- $39.2k
- Revenue
- $421.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Canton, MA
- Founding
- Data as of
- 12/2022
- EIN
- 84-1728379
Organization Overview
Zero Debt Massachusetts is located in Canton, MA. According to its NTEE Classification (W90) the organization is classified as: Consumer Protection, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Zero Debt Massachusetts employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Zero Debt Massachusetts 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 12/2022, Zero Debt Massachusetts generated $421.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 28.9% each year . All expenses for the organization totaled $294.6k during the year ending 12/2022. While expenses have increased by 22.2% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ZERO DEBT MASSACHUSETTS, INC. (ZDM) IS A GRASSROOTS ORGANIZATION DRIVEN BY THE VOICES AND LIVED EXPERIENCES OF STUDENTS, ALUMNI, AND FAMILIES IMPACTED BY THE NATIONAL STUDENT DEBT CRISIS. WE FOCUS OUR ORGANIZING EFFORTS IN THOSE COMMUNITIES MOST DISPROPORTIONATELY IMPACTED BY THE BURDEN OF STUDENT DEBT IN MASSACHUSETTS: LOW-INCOME AND COMMUNITIES OF COLOR. AS AN ORGANIZATION, WE CELEBRATE THE STRENGTH WE DERIVE FROM OUR DIVERSE BACKGROUNDS AND BRING THOSE PERSPECTIVES TO OUR ORGANIZING WORK EVERY SINGLE DAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ZDM ORGANIZES STUDENTS, PARENTS, AND COMMUNITY MEMBERS TO AMPLIFY THE VOICES AND LEADERSHIP OF THOSE MOST IMPACTED BY THE BURDEN OF STUDENT DEBT IN OUR CITIES AND STATE. WE ARE A NETWORK OF INTER-GENERATIONAL ACTIVISTS AND ORGANIZATIONS FIGHTING FOR STUDENT BORROWERS' PROTECTIONS, REINVESTMENTS IN PUBLIC HIGHER EDUCATION AND A ZERO DEBT HIGHER EDUCATION FINANCE SYSTEM FREE FROM STUDENT DEBT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vanessa Snow President | OfficerTrustee | 1 | $0 |
Carlos Rios Director | Trustee | 1 | $0 |
Ashley Rose Salomon Director | Trustee | 1 | $0 |
Peter Barros Treasurer | OfficerTrustee | 1 | $0 |
Emy Takinami Clerk | OfficerTrustee | 1 | $0 |
Cisnell Baez Vice Preisdent | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $111,116 |
| All other contributions, gifts, grants, and similar amounts not included above | $310,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $421,116 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $421,116 |
| 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. | $150,522 |
| Compensation of current officers, directors, key employees. | $37,631 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,715 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,571 |
| Payroll taxes | $15,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,568 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,184 |
| Advertising and promotion | $0 |
| Office expenses | $2,544 |
| Information technology | $116 |
| Royalties | $0 |
| Occupancy | $5,596 |
| Travel | $1,720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,415 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $531 |
| Insurance | $340 |
| All other expenses | $0 |
| Total functional expenses | $294,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,167 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,167 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $39,167 |
| 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 | $39,167 |
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