Tenacity Inc
- Assets
- $7.2m
- Revenue
- $4.7m
- Investments
- $2.5m
- Employees
- 160
- Location
- Boston, MA
- Founding
- 05/1999
- Data as of
- 08/2023
- EIN
- 04-3452763
Organization Overview
Tenacity Inc is located in Boston, MA. The organization was established in 1999. According to its NTEE Classification (N66) the organization is classified as: Racquet Sports, under the broad grouping of Recreation & Sports and related organizations. As of 08/2023, Tenacity Inc employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tenacity 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 08/2023, Tenacity Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $3.4m during the year ending 08/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
YOUTH DEVELOPMENT AND LIFE-SKILL DEVELOPMENT ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TENACITY'S MISSION IS TO IMPROVE THE SCHOLASTIC CHARACTER AND PHYSICAL DEVELOPMENT OF URBAN YOUTH COMBINING TENNIS INSTRUCTION/COMPETITION AND ACADEMIC SUPPORT WITH A FOCUS ON LIFE SKILLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Eames President/board Member | OfficerTrustee | 40 | $163,349 |
Roger Servison Chairman | Trustee | 0.8 | $0 |
Stephen Kay Board Member | Trustee | 0.8 | $0 |
Aldel Brown Board Member | Trustee | 0.8 | $0 |
Stanley Mescon Board Member | Trustee | 0.8 | $0 |
Sarah Hoit Board Member | Trustee | 0.8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tony's Transport Transportation | 8/30/18 | $135,525 |
Philip Milburn Development | 8/30/18 | $100,657 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $336,620 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,681,723 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,018,343 |
| Total Program Service Revenue | $0 |
| Investment income | $163,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $566,534 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,748,787 |
| 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. | $163,349 |
| Compensation of current officers, directors, key employees. | $24,502 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,885,530 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $141,320 |
| Payroll taxes | $152,776 |
| Fees for services: Management | $423,348 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,516 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,028 |
| Office expenses | $15,916 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $168,807 |
| Travel | $2,135 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140 |
| Insurance | $46,810 |
| All other expenses | $22,553 |
| Total functional expenses | $3,441,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,172,796 |
| 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 | $1,500 |
| Net Land, buildings, and equipment | $1,120 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,473,376 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $579,722 |
| Total assets | $7,228,514 |
| Accounts payable and accrued expenses | $144,026 |
| 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 | $269,126 |
| Total liabilities | $413,152 |
| Net assets without donor restrictions | $4,431,764 |
| Net assets with donor restrictions | $2,383,598 |
| 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 | $7,228,514 |