Licensing Executives Society Inc
- Assets
- $851.2k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Wakefield, MA
- Founding
- 03/1968
- Data as of
- 12/2020
- EIN
- 13-6271591
Organization Overview
Licensing Executives Society Inc is located in Wakefield, MA. The organization was established in 1968. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Licensing Executives Society 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 12/2020, Licensing Executives Society Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.6%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (17.3%) per year over the past 6 years. 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
A NONPROFIT PROFESSIONAL AND EDUCATIONAL SOCIETY ASSISTING INDIVIDUALS IN TECHNIQUES OF SAFEGUARDING INTELLECTUAL PROPERTY. THE SOCIETY ALSO INFORMS THE PUBLIC CONCERNING THE ECONOMIC SIGNIFICANCE OF LICENSING OR OTHER TRANSFER OF TECHNOLOGY, INDUSTRIAL AND INTELLECTUAL PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS CONDUCTED TO EXCHANGE INFORMATION AMONG MEMBERS.
MEMBERSHIP
CHAPTERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Fedorochko Immed Past Pres | OfficerTrustee | 5 | $0 |
Michelle Riley Treasurer | OfficerTrustee | 5 | $0 |
Kevin Spivak Secretary | OfficerTrustee | 5 | $0 |
Scott Williams President Elect | OfficerTrustee | 5 | $0 |
Gillian Fenton President | OfficerTrustee | 5 | $0 |
Michael Perham Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
1800 Diagonal Road Llc Lease | 12/30/19 | $148,974 |
Eleanor A Nelson Cmp Llc Meeting Planning Services | 12/30/19 | $145,560 |
Virtual Inc Management | 12/30/19 | $527,543 |
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 | $444 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $444 |
| Total Program Service Revenue | $976,485 |
| Investment income | $148 |
| 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 | $1,027,084 |
| 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 | $58,710 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $513,494 |
| Advertising and promotion | $345 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $153,749 |
| Travel | $3,881 |
| 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 | $0 |
| Insurance | $8,543 |
| All other expenses | $74,709 |
| Total functional expenses | $1,100,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $788,270 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,423 |
| 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 | $27,537 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $851,230 |
| Accounts payable and accrued expenses | $31,909 |
| Grants payable | $0 |
| Deferred revenue | $306,039 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $173,772 |
| Total liabilities | $661,720 |
| Net assets without donor restrictions | $178,381 |
| Net assets with donor restrictions | $11,129 |
| 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 | $851,230 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telecom Infra Project Inc Wakefield, MA | $19,363,144 | $19,879,167 |
Northeast Gas Association Inc Needham, MA | $15,830,312 | $17,592,560 |
International Trademark Association Inc New York, NY | $31,452,258 | $17,397,846 |
American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |
Northeast Power Coordinating Council Inc New York, NY | $13,480,521 | $16,289,125 |
Global Seafood Alliance Inc Portsmouth, NH | $16,114,958 | $17,110,603 |
The Toy Association Inc New York, NY | $44,631,259 | $11,487,921 |
Private Label Manufacturers Association New York, NY | $11,255,640 | $8,374,810 |
Mohawk Valley Health System Utica, NY | $546,149,518 | $137,473,732 |
Acord Corporation Pearl River, NY | $47,591,189 | $27,875,680 |
Loan Syndications And Trading Association Inc New York, NY | $32,443,554 | $12,995,504 |
Chartered Alternative Investment Analyst Association Inc Amherst, MA | $10,766,695 | $9,878,929 |