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Nonprofiteer
← GREATER BOSTON CHAMBER OF COMMERCE FOUNDATION INC

Form 990 for tax year 2023

Filed by GREATER BOSTON CHAMBER OF COMMERCE FOUNDATION INC.

Totals

Total revenue
$2,008,455
Total expenses
$1,101,094
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,008,455
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,015,776
Total liabilities, end of year
$218,204
Net assets or fund balances, end of year
$797,572
Program services expenses (Part IX)
$1,058,046
Management and general expenses
$43,048
Fundraising expenses
$0
Program service expenses (Part III)
$1,058,046

Program services were 96.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PACESETTERS, FUN, CITY AWAKE, SCH

    total $1,271,030 · excluded $1,271,030

  • 2b · Program service revenue: SMALL BUSINESS STRONG, LLC

    total $737,425 · excluded $737,425

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $20,663 · management and general $20,663

  • 11g · Fees: other

    total $115,538 · program services $115,538

  • 12 · Advertising and promotion

    total $21,954 · program services $998 · management and general $20,956

  • 13 · Office expenses

    total $1,429 · management and general $1,429

  • 24a · Other expenses: SMALL BUSINESS STRONG E

    total $523,211 · program services $523,211

  • 24b · Other expenses: FUN, CITY AWAKE & PACES

    total $403,299 · program services $403,299

  • 24c · Other expenses: POLICY PROJECT EXPENSES

    total $15,000 · program services $15,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $635,567 · end of year $1,012,176

  • 3 · Pledges and grants receivable

    beginning of year $25,000 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,950 · end of year $3,600

  • 17 · Accounts payable and accrued expenses

    beginning of year $280,306 · end of year $149,704

  • 19 · Deferred revenue

    end of year $31,000

  • 25 · Other liabilities

    beginning of year $513,000 · end of year $37,500

  • 27 · Net assets without donor restrictions

    beginning of year -$116,697 · end of year $780,164

  • 28 · Net assets with donor restrictions

    beginning of year $6,908 · end of year $17,408

Mission and programs · 2023

Mission

TRANSFORM THE LIVES OF CURRENT AND FUTURE RESIDENTS BY LEVERAGING THE COMMONWEALTH'S UNTAPPED TALENT, CHAMPIONING SMALL BUSINESSES AND CREATING TOMORROW'S LEADERS IN SUPPORT OF A 21ST CENTURY ECONOMY

  • CIVIC PROJECTS - FUND PROJECTS WHICH ARE CONSISTENT WITH THE PURPOSES FOR WHICH THE CORPORATION WAS CREATED: PUBLIC HEALTH, EDUCATION AND SOCIAL WELFARE.

    Expenses $1,058,046 · Revenue $2,008,455

As filed on the 2023 return.

Listed in Part VII

  • Yvonne Garcia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Charlayne Murrell-Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Sandra Edgerly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Veronique Spruill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Kevin Bynoe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Abigail Paul

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • James E Rooney

    PRESIDENT/CHAIRMAN

    Total calculated
    $835,014
    From this org
    $0
    From related orgs
    $809,302
    Other
    $25,712
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $531,602 related
    Bonus
    $0 + $247,700 related
    Other
    $0 + $30,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $25,712 related
    Filer's total
    $0 + $835,014 related

  • Melissa Sampson McMorrow

    CLERK

    Total calculated
    $0
    Hours/week
    0.2

  • Celia Richa

    SENIOR VP, STRATEGIC INITIATIVES & POLICY

    Total calculated
    $285,606
    From this org
    $0
    From related orgs
    $254,115
    Other
    $31,491
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,615 related
    Bonus
    $0 + $37,000 related
    Other
    $0 + $22,500 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $31,491 related
    Filer's total
    $0 + $285,606 related

  • Beilei Huang

    SENIOR DIRECTOR, FINANCE & ADMINISTRATION

    Total calculated
    $205,058
    From this org
    $0
    From related orgs
    $178,331
    Other
    $26,727
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $124,731 related
    Bonus
    $0 + $23,600 related
    Other
    $0 + $30,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $26,727 related
    Filer's total
    $0 + $205,058 related

  • Benjamin Stuart

    VP, FINANCE & TECHNOLOGY

    Total calculated
    $174,053
    From this org
    $0
    From related orgs
    $148,336
    Other
    $25,717
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $116,968 related
    Bonus
    $0 + $22,400 related
    Other
    $0 + $8,968 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $25,717 related
    Filer's total
    $0 + $174,053 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
23 October 2024
IRS schema version
2023v5.1
Source object
202423029349300882

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