Form 990 for tax year 2022

Totals

Total revenue

$1,625,602

Total expenses

$1,827,189

Contributions and grants received

$1,109,500

Grants paid

$18,000

Program service revenue

$460,850

Investment income

$0

Other revenue

$55,252

Total assets, end of year

$226,409

Total liabilities, end of year

$17,101

Net assets or fund balances, end of year

$209,308

Program services expenses (Part IX)

$1,827,189

Management and general expenses

$0

Fundraising expenses

$0

Program service expenses (Part III)

$1,827,189

Program services were 100.0% 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.

Mission and programs · 2022

• THE ORGANIZATION PROMOTED ECONOMIC GROWTH AND OPPORTUNITIES THROUGH MEMBERSHIP SERVICES, EDUCATION, PUBLIC AWARENESS, NETWORKING AND PUBLIC POLICY THROUGH THE FOLLOWING ACTIVITIES: - ANNUAL FOUNDING MEMBER MEETING: ROUNDTABLE DISCUSSION AND WORKSHOP LEAD BY OUR PARTNERS FROM BABSON BUSINESS COLLEGE WITH OUR FOUNDING SMALL BUSINESS MEMBERS TO DISCUSS THE DIVERSE NEEDS OF THEIR BUSINESSES. AT THIS MEETING WE DISCUSSED THE CORE IDEAS FOR OUR VALUE PROPOSITION FOR SMALL BUSINESSES. JENNIFER BETHEL, PROFESSOR OF FINANCE AT BABSON COLLEGE, RAN A SUCCESSFUL CASE STUDY TO BETTER EDUCATE OUR FOUNDING SMALL BUSINESSES ABOUT BEST AND NEXT BUSINESS PRACTICES WHEN IT COMES TO DIVERSITY AND INCLUSION. (CONTINUED ON SCHEDULE O)(CONTINUED FROM 990 PAGE 2, LINE 4A) - EQUALITY AND EQUITY: ADVANCING THE LGBT COMMUNITY IN MASSACHUSETTS: BOARD MEMBER KAREN YOUNG PARTICIPATED IN A PANEL HOSTED BY THE BOSTON FOUNDATION TO DISCUSS THE ECONOMIC AND SOCIAL STATUS OF THE LGBT COMMUNITY OF MASSACHUSETTS. THE PANEL WAS PART OF A LARGER EVENT CENTERED AROUND THE RELEASE OF THE BOSTON FOUNDATION'S "STATE OF THE LGBT COMMUNITY IN MA" REPORT. KAREN TOOK PART IN THE PANEL EXAMINING THE REPORT'S FINDINGS REGARDING TOPICS SUCH AS DISCRIMINATION AGAINST THE TRANSGENDER COMMUNITY AND THE LACK OF SUPPORT SYSTEMS FOR ELDERLY LGBT PEOPLE. - WORKING #OUTHERE PANEL: GRACE MORENO WAS A PANELIST ON THE WORKING #OUTHERE PANEL, HOSTED BY OUT IN TECH AND LIBERTY MUTUAL. THE PANEL BROUGHT TOGETHER NOTABLE LGBT PROFESSIONALS AND ALLIES AND FOCUSED ON NOTIONS OF SELF-IDENTITY AND BEING OPENLY LGBT IN THE WORKPLACE. GRACE PARTICIPATED AS AN OUT-AND-PROUD EXECUTIVE AND REPRESENTATIVE OF THE MA LGBT CHAMBER. - CORPORATE ROUNDTABLE: HOSTED AT 50 MILK STREET, THIS ROUNDTABLE FOCUSED ON AND ACCOMPLISHED THE FOLLOWING GOALS. IDENTIFYING, ENGAGING WITH, AND COMMUNICATING THE NEEDS OF LGBT-OWNED AND ALLIED BUSINESSES. ADVANCING CORPORATE SUPPLIER MANAGEMENT PRACTICES TO BETTER INCLUDE LGBT-OWNED BUSINESSES. AND LASTLY, COLLECTIVELY SHARING BEST PRACTICES AND ESTABLISHING PRACTICAL PRACTICES - LIKE JOB BOARDS - THAT WILL ENABLE CORPORATIONS TO DELIVER THEIR COMMITMENT TO HIRING LGBT TALENT. - THE MA LGBT CHAMBER OF COMMERCE - PUBLIC LAUNCH: PUBLICLY ANNOUNCED THE LAUNCH OF THE MA LGBT CHAMBER OF COMMERCE AT THE FEDERAL RESERVE BANK. THIS PROGRAM GARNERED PUBLIC AND MEDIA ATTENTION TO OUR ORGANIZATION, AND WE HIGHLIGHTED THE CIVIC IMPORTANCE OF DIVERSITY AND INCLUSION WITH A SPEECH FROM MAYOR OF HOLYOKE, ALEX B. MORSE. WE ALSO PROVIDED A NETWORKING OPPORTUNITY FOR SMALL LGBT AND ALLY-OWNED BUSINESSES TO MEET WITH OUR FOUNDING CORPORATE PARTNERS AND SPONSORS. - INNER CITY CAPITAL CONNECTIONS CONFERENCE: THREE MEMBER BUSINESSES AND THE EXECUTIVE DIRECTOR OF THE MALGBTCC PARTICIPATED IN THE ICIC COHORT OF 2022, GAINING APPRECIATION AND KNOWLEDGE OF THE PROGRAM. THE SMALL BUSINESSES WERE ABLE TO GAIN THE SKILLS TO STRENGTHEN THEIR COMPANIES AND THE CHAMBER FOUND ADDITIONAL WAYS TO PARTNER WITH THE ORGANIZATION.

  Expenses $1,827,189 · Revenue $516,102

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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.

Provenance

Return type

form_990

Tax year

2022

Filed

7 November 2023

IRS schema version

2022v5.0

Source object

202323189349301952

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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