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Nonprofiteer
← MASSACHUSETTS LGBT CHAMBER OF COMMERCE INC

Form 990 for tax year 2023

Filed by MASSACHUSETTS LGBT CHAMBER OF COMMERCE INC.

Totals

Total revenue
$1,903,311
Total expenses
$1,904,915
Contributions and grants received
$1,363,070
Grants paid
$20,000
Program service revenue
$540,241
Investment income
$0
Other revenue
$0
Total assets, end of year
$258,539
Total liabilities, end of year
$50,835
Net assets or fund balances, end of year
$207,704
Program services expenses (Part IX)
$1,719,813
Management and general expenses
$164,505
Fundraising expenses
$20,597
Program service expenses (Part III)
$1,719,813

Program services were 90.3% 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.

  • 1b · Membership dues

    $90,841

  • 1f · All other contributions, gifts and grants

    $1,272,229

  • 2a · Program service revenue: PROG SERVICE ACTIVITIES

    total $540,241 · related or exempt $540,241

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000 · program services $20,000

  • 7 · Other salaries and wages

    total $750,098 · program services $750,098

  • 9 · Other employee benefits

    total $47,095 · program services $47,095

  • 10 · Payroll taxes

    total $350,895 · program services $350,895

  • 12 · Advertising and promotion

    total $20,597 · fundraising $20,597

  • 13 · Office expenses

    total $46,356 · management and general $46,356

  • 15 · Royalties

    total $56,043 · program services $56,043

  • 16 · Occupancy

    total $23,625 · management and general $23,625

  • 17 · Travel

    total $30,370 · program services $30,370

  • 23 · Insurance

    total $3,422 · management and general $3,422

  • 24a · Other expenses: PROFESSIONAL FEES

    total $302,246 · program services $302,246

  • 24b · Other expenses: EVENTS EXPENSE

    total $153,693 · program services $153,693

  • 24c · Other expenses: ADMINISTRATIVE EXPENSES

    total $91,102 · management and general $91,102

  • 24d · Other expenses: FIELDWORK EXPENSES

    total $9,373 · program services $9,373

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $224,824 · end of year $256,954

  • 15 · Other assets

    beginning of year $1,585 · end of year $1,585

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,101 · end of year $50,835

  • 27 · Net assets without donor restrictions

    beginning of year $209,308 · end of year $207,704

Mission and programs · 2023

Mission

TO CREATE A FULLY INCLUSIVE STATE BY PROMOTING GROWTH & OPPORTUNITIES FOR LGBT-OWNED AND ALLIED BUSINESSES, ORGANIZATIONS, AND INDIVIDUALS.

Activities or mission (Part I)

TO CREATE A FULLY INCLUSIVE STATE BY PROMOTING GROWTH OPPORTUNITIES FOR LGBTOWNED AND ALLIED BUSINESSES ORGANIZATIONS AND INDIVIDUALS

  • TO CREATE A FULLY INCLUSIVE STATE BY PROMOTING GROWTH & OPPORTUNITIES FOR LGBT-OWNED AND ALLIED BUSINESSES, ORGANIZATIONS, AND INDIVIDUALS.

    Expenses $1,719,813 · Grants $20,000 · Revenue $540,241

As filed on the 2023 return.

Listed in Part VII

  • James Lopata

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Nancy Stager

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Susu Wong

    CLERK

    Total calculated
    $0
    Hours/week
    3

  • Elizabeth Roberts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Benjamin Perkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Keith Wang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Stephen Chan

    DIRECTOR

    Total calculated
    $0

  • Winelia Rivera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Ella Samson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Ronald Molina-Brantley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Grace Moreno

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443239349301854

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