Massachusetts Psychological Inc
- Assets
- $597.5k
- Revenue
- $583.7k
- Investments
- $426.0k
- Employees
- 3
- Location
- Wellesley, MA
- Founding
- 09/1969
- Data as of
- 02/2022
- EIN
- 04-2393951
Organization Overview
Massachusetts Psychological Inc is located in Wellesley, MA. The organization was established in 1969. According to its NTEE Classification (F99) the organization is classified as: Mental Health & Crisis Intervention N.E.C., under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 02/2022, Massachusetts Psychological Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Psychological Inc 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 02/2022, Massachusetts Psychological Inc generated $583.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $511.9k during the year ending 02/2022. While expenses have increased by 1.0% per year over the past 7 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
TO ADVANCE PSYCHOLOGY AS A SCIENCE, AS A PROFESSION AND AS A MEANS OF PROMOTING HUMAN WELFARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE PSYCHOLOGY PROFESSION THROUGH ADVOCACY, NEWSLETTER PUBLICATIONS AND CONTINUING EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Wagner Executive Dir. | Trustee | 40 | $110,492 |
Ferna Phillips Secretary | Trustee | 0 | $0 |
Mary Sa Director | Trustee | 0 | $0 |
Erica Lee Director | Trustee | 0 | $0 |
Martin Pierre President | Trustee | 0 | $0 |
Sukanya Ray Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $393,189 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,995 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,633 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $442,817 |
| Total Program Service Revenue | $96,883 |
| Investment income | $29,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,474 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $583,671 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $220,601 |
| Pension plan accruals and contributions | $3,846 |
| Other employee benefits | $1,345 |
| Payroll taxes | $18,260 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,000 |
| Fees for services: Accounting | $35,974 |
| Fees for services: Lobbying | $44,100 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,335 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24,546 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,530 |
| Travel | $137 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,158 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,781 |
| Insurance | $6,238 |
| All other expenses | $19,105 |
| Total functional expenses | $511,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,311 |
| 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 | $6,782 |
| Net Land, buildings, and equipment | $4,209 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $425,998 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,153 |
| Total assets | $597,453 |
| Accounts payable and accrued expenses | $29,457 |
| 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 | $10,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,504 |
| Total liabilities | $55,061 |
| Net assets without donor restrictions | $507,223 |
| Net assets with donor restrictions | $35,169 |
| 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 | $597,453 |
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