Partnership Inc
- Assets
- $5.7m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 13
- Location
- Boston, MA
- Founding
- 05/1986
- Data as of
- 12/2021
- EIN
- 04-2879910
Organization Overview
Partnership Inc is located in Boston, MA. The organization was established in 1986. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Partnership Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Partnership Inc generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 5.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE PARTNERSHIP, INC. IS TO ENSURE THE ECONOMIC COMPETIVENESS OF THE NEW ENGLAND REGION AND BEYOND BY ATTRACTING, DEVELOPING, RETAINING AND CONVENING EXECUTIVES AND PROFESSIONALS OF COLOR TO ENSURE THEY REACH THEIR FULL POTENTIAL. IN DOING SO, THE ORGANIZATION ALSO WORKS WITH COMPANIES TO ASSIST THEM IN CREATING CLIMATES WHERE DIVERSE INDIVIDUALS CAN THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP DEVELOPMENT - THROUGH OUR SUITE OF STATE-OF-THE-ART PROGRAMS (ASSOCIATES, FELLOWS, BIODIVERSITY FELLOWS, AND NEXT GENERATION EXECUTIVE) TAUGHT BY SOME OF THE MOST ACCOMPLISHED FACULTY ON RACE, ETHNICITY, CULTURE, NEGOTIATIONS AND INNOVATION WE DEVELOP PROFESSIONALS OF COLOR AT EVERY STAGE OF THEIR CAREER. OUR PROGRAMS DELIVERED BY EXPERT ACADEMICIANS AND BUSINESS THOUGHT LEADERS ARE DESIGNED FOR EACH STAGE OF THE CAREER CYCLE INCLUDING: EARLY STAGE, MID-CAREER, EXECUTIVE AND C-SUITE EXECUTIVES. LEADERSHIP DEVELOPMENT PROGRAMS 199 ASSOCIATES FROM 46 COMPANIES; 221 FELLOWS FROM 67 COMPANIES; 90 BIODIVERSITY FELLOWS FROM 9 COMPANIES; 38 NC MID-CAREER LEADERSHIP ACCELERATOR FROM 5 COMPANIES; AND 98 NGE'ERS (OCT 2021-APRIL 2022) FROM 50 COMPANIES. 95 NGE'ERS (OCT 2020-APRIL 2021) FROM 38 COMPANIES EACH PROGRAM PARTICIPANT LISTED ABOVE WAS FULLY FUNDED BY THEIR EMPLOYER, SPONSORSHIP, GRANT, OR BY CLASS GIFT FUNDS. + 3 SPONSORS OF JOINT FELLOWS, ASSOCIATES, BIODIVERSITY, NORTH CAROLINA LEADERSHIP DEVELOPMENT PROGRAMS SESSION (PUTNAM INVESTMENTS, MICROSOFT CORPORATION AND NATIONAL GRID)
PROFESSIONAL SERVICES CONSULTING - WE ACT AS STRATEGIC PARTNERS TO HELP OUR CLIENTS DEVELOP A DIVERSE TALENT PIPELINE, WE DESIGN EFFECTIVE RECRUITMENT AND RETENTION PROGRAMS AND HELP ORGANIZATIONS MANAGE DIVERSITY AS A COMPETITIVE ADVANTAGE. BOARD SERVICE - OUR BOARDLINK PROGRAM CONNECTS MULTICULTURAL PROFESSIONALS WITH BOARDS ENABLING SENIOR DIVERSE LEADERS TO GIVE BACK TO THEIR CIVIC AND BUSINESS COMMUNITY WHILE ALSO PROVIDING A TALENTED BOARD POOL FOR ORGANIZATIONS. PROFESSIONAL SERVICES 50+ EXECUTIVE COUNCIL MEMBER COMPANIES; 28 JOBBOARD COMPANIES (PLUS 10 PREMIER SPONSORS; ZERO CONSULTING ENGAGEMENTS; AND PROVIDED BOARDLINK FREE OF CHARGE DURING PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pratt Norton Wiley President & | Officer | 40 | $301,000 |
Carmen Arce-Bowen Vice Preside | Officer | 40 | $232,500 |
Paul Alexander Board Chair | OfficerTrustee | 2 | $0 |
Elizabeth Cheng Vice Chair | OfficerTrustee | 2 | $0 |
Kenneth Leonetti Secretary/cl | OfficerTrustee | 2 | $0 |
Mark Touhey Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $162,332 |
| All other contributions, gifts, grants, and similar amounts not included above | $113,457 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $275,789 |
| Total Program Service Revenue | $4,300,707 |
| Investment income | $571 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,577,511 |
| 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. | $570,140 |
| Compensation of current officers, directors, key employees. | $228,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $551,250 |
| Pension plan accruals and contributions | $9,006 |
| Other employee benefits | $73,326 |
| Payroll taxes | $76,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,739 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $265,699 |
| Advertising and promotion | $35,450 |
| Office expenses | $73,997 |
| Information technology | $35,295 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $706 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $684,362 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,388 |
| Insurance | $5,952 |
| All other expenses | $0 |
| Total functional expenses | $2,724,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,645 |
| Savings and temporary cash investments | $2,539,664 |
| Pledges and grants receivable | $75,750 |
| Accounts receivable, net | $633,266 |
| 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 | $84,642 |
| Net Land, buildings, and equipment | $3,130 |
| Investments—publicly traded securities | $2,032,975 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,653,072 |
| Accounts payable and accrued expenses | $201,540 |
| Grants payable | $0 |
| Deferred revenue | $565,899 |
| 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 | $0 |
| Total liabilities | $767,439 |
| Net assets without donor restrictions | $4,824,418 |
| Net assets with donor restrictions | $61,215 |
| 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 | $5,653,072 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Partnership Inc has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Oneworld Boston Inc Woburn, MA PURPOSE: JOB TRAINING\PLACEMENT | $50,000 |
Arthur F Blanchard F Tr U Agree Pittsburgh, PA PURPOSE: GENERAL OPERATING | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Minority Supplier Development Council Inc New York, NY | $14,151,024 | $19,123,388 |
All Stars Project Inc New York, NY | $22,721,562 | $11,310,796 |
The Hyams Foundation Inc Boston, MA | $163,844,341 | $20,347,329 |
Neighborhood Trust Financial Partners Inc New York, NY | $10,875,094 | $7,150,796 |
African Services Committee Inc New York, NY | $2,169,110 | $5,702,295 |
Urban Arts Partnership New York, NY | $4,790,105 | $5,921,037 |
Artpark & Company Inc Lewiston, NY | $3,327,523 | $5,321,157 |
Education Through Music Inc New York, NY | $3,082,173 | $4,504,496 |
Ridgefield Playhouse For Movies And The Performing Arts Inc Ridgefield, CT | $15,840,106 | $10,052,125 |
City Access New York Staten Island, NY | $3,686,366 | $4,897,308 |
Partnership Inc Boston, MA | $5,653,072 | $4,577,511 |
Multicultural Aids Coalition Inc Roxbury, MA | $1,116,469 | $3,034,089 |