Strategic Market Initiative
- Assets
- $1.8m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Kingston, MA
- Founding
- 09/2005
- Data as of
- 12/2022
- EIN
- 01-0817065
Organization Overview
Strategic Market Initiative is located in Kingston, MA. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Strategic Market Initiative employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Strategic Market Initiative is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Strategic Market Initiative generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. 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
TO EDUCATE, SHAPE AND ADVANCE THE FUTURE AND STANDARDS OF THE HEALTHCARE SUPPLY CHAIN THROUGH A COLLABORATIVE NETWORKING ORGANIZATION OF LEADERS FROM INTEGRATED DELIVERY NETWORKS, SUPPLIERS, PROVIDERS AND DISTRIBUTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BI-ANNUAL STRATEGIC MARKETPLACE INITIATIVE FORUMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Schuette Immediate Past Chair | Trustee | 5 | $0 |
Steve Gundersen Immediate Past Chair | Trustee | 5 | $0 |
Jane Pleasants Chair | Trustee | 5 | $233,675 |
Dennis Black Treasurer (old) | Trustee | 5 | $0 |
Donna Drummond Member Of The Board | Trustee | 5 | $0 |
Matt Gattuso Member Of The Board | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,414,750 |
| Investment income | $8,623 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$60,823 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,362,550 |
| 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. | $787,290 |
| Compensation of current officers, directors, key employees. | $78,729 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $39,964 |
| Payroll taxes | $44,754 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,239 |
| Fees for services: Accounting | $10,235 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $39,367 |
| Information technology | $16,436 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $829,815 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,068 |
| Insurance | $4,694 |
| All other expenses | $0 |
| Total functional expenses | $1,854,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,866 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,500 |
| 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 | $7,200 |
| Net Land, buildings, and equipment | $9,560 |
| Investments—publicly traded securities | $1,162,923 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $48,713 |
| Other assets | $121,741 |
| Total assets | $1,770,503 |
| 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 | $577,409 |
| Total liabilities | $577,409 |
| Net assets without donor restrictions | $1,193,094 |
| 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 | $1,770,503 |