Massachusetts High Technology Council Inc
- Assets
- $728.9k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 5
- Location
- Burlington, MA
- Founding
- 10/1977
- Data as of
- 10/2020
- EIN
- 04-2626050
Organization Overview
Massachusetts High Technology Council Inc is located in Burlington, MA. The organization was established in 1977. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 10/2020, Massachusetts High Technology Council Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts High Technology Council 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 10/2020, Massachusetts High Technology Council Inc generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $1.7m during the year ending 10/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MASSACHUSETTS HIGH TECHNOLOGY COUNCIL, INC. IS AN ORGANIZATION OF CEOS AND SENIOR EXECUTIVES REPRESENTING TECHNOLOGY COMPANIES, PROFESSIONAL SERVICES FIRMS, AND ACADEMIC AND RESEARCH INSTITUTIONS WHO ARE DEDICATED TO CREATING AND SUSTAINING CONDITIONS THAT SUPPORT INVESTMENT, JOB GROWTH AND IMPROVED QUALITY OF LIFE IN MASSACHUSETTS OUR MISSION IS TO HELP MAKE MASSACHUSETTS THE WORLDS MOST ATTRACTIVE PLACE IN WHICH TO LIVE AND WORK, AND IN WHICH TO CREATE, OPERATE AND GROW HIGH TECHNOLOGY BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE OUR FOUNDING IN 1977, THE MASSACHUSETTS HIGH TECHNOLOGY COUNCIL, INC. HAS DEVELOPED AN UNMATCHED RECORD OF SUCCESS BY UNIFYING CEO AND SENIOR EXECUTIVE DECISION MAKERS TO ADVANCE STRATEGIES THAT IMPACT THE MOST CRUCIAL PUBLIC POLICY PRIORITIES FACING THE COMMONWEALTH OF MASSACHUSETTS, ITS JOB CREATORS AND CITIZENS. KEY ACCOMPLISHMENTS INCLUDE:: ENABLING THE PASSAGE OF PROPOSITION 2 (1980); DRAFTING AND SECURING THE ENACTMENT OF THE STATES FIRST R&D TAX CREDIT (1992); SUCCESSFULLY LEADING A NEW ENGLAND-WIDE COLLABORATION TO SUPPORT THE INCREASINGLY TECHNOLOGY-ORIENTED MISSION AT HANSCOM AIR FORCE BASE AND THE US ARMY SOLDIER SYSTEMS CENTER IN NATICK DURING THE FEDERAL BASE REALIGNMENT AND CLOSURE REVIEW AT THE REQUEST OF US SEN. TED KENNEDY AND MA GOVERNOR ROMNEY (2005); ENGINEERING THE REPEAL OF THE LEGISLATURES EXPANSION OF THE STATE SALES TAX TO INCLUDE CUSTOM COMPUTER SOFTWARE SERVICES (2013); AND LEADING THE SUCCESSFULL EFFORT TO CHALLENGE THE CONSTITUTIONALITY OF A PROPOSED AMENDMENT TO THE STATE CONSTITUTION TO ESTABLISH A PERMANENT PERSONAL INCOME SURTAX (2018).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher R Anderson President | Officer | 50 | $561,570 |
Michael J Kendall Secretary | Officer | 1 | $0 |
Udit Batra Chairman | Officer | 1 | $0 |
James K Boyer Jr Treasurer | Officer | 1 | $0 |
Corey Thomas Director | Trustee | 1 | $0 |
Al Bunshaft Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,414,420 |
| Investment income | $863 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $52,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,728,736 |
| Statement of Expenses | |
|---|---|
| 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. | $712,537 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $432,902 |
| Pension plan accruals and contributions | $65,294 |
| Other employee benefits | $72,191 |
| Payroll taxes | $49,890 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,752 |
| Fees for services: Accounting | $27,369 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,210 |
| Advertising and promotion | $0 |
| Office expenses | $9,499 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $118,483 |
| Travel | $15,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,130 |
| Interest | $126 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,993 |
| Insurance | $6,871 |
| All other expenses | $0 |
| Total functional expenses | $1,719,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $351,380 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,750 |
| 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 | $49,319 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $207,688 |
| Total assets | $728,878 |
| Accounts payable and accrued expenses | $331,878 |
| Grants payable | $0 |
| Deferred revenue | $320,650 |
| 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 | $306,345 |
| Total liabilities | $958,873 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$229,995 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Massachusetts High Technology Council Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
The Red Sox Foundation Inc Boston, MA PURPOSE: SCHED I SUPPLEMENTAL INFORMATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |