Vocational Advancement Center Inc
- Assets
- $3.1m
- Revenue
- $964.9k
- Investments
- $858.5k
- Employees
- 12
- Location
- Watertown, MA
- Founding
- 08/1982
- Data as of
- 06/2022
- EIN
- 14-1628984
Organization Overview
Vocational Advancement Center Inc is located in Watertown, MA. The organization was established in 1982. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2022, Vocational Advancement Center Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vocational Advancement Center 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 06/2022, Vocational Advancement Center Inc generated $964.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $852.5k during the year ending 06/2022. While expenses have increased by 3.8% 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
VOCATIONAL TRAINING FOR HANDICAPPED ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOCATIONAL TRAINING AND SUPPORTED CENTER BASED WORK SERVICES FOR HANDICAPPED ADULTS
MASS REHAB COMMISSION OFFSITE EMPLOYMENT OF HANDICAPPED ADULTS WHO SUCCESSFULLY COMPLETE THE TRAINING PROGRAM, MRC NORTH & SES & SHIP & SOUTH EMPLOYMENT PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Bell Executive Director | OfficerTrustee | 38 | $101,203 |
Thomas Leetch Treasurer | Trustee | 0 | $0 |
Brian Gibbons Director | Trustee | 0 | $0 |
Tim Schofield Director | Trustee | 0 | $0 |
Ray Mellone Director | Trustee | 0 | $0 |
William Luzier President | Trustee | 0 | $0 |
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 | $14,168 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,168 |
| Total Program Service Revenue | $950,361 |
| Investment income | $362 |
| 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 | $964,891 |
| 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. | $101,203 |
| Compensation of current officers, directors, key employees. | $101,203 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $412,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $65,939 |
| Payroll taxes | $43,693 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,516 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,892 |
| Travel | $6,387 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,244 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,097 |
| Insurance | $34,202 |
| All other expenses | $0 |
| Total functional expenses | $852,483 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,105,543 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,913 |
| 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 | $12,480 |
| Net Land, buildings, and equipment | $1,023,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $858,532 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,762 |
| Total assets | $3,114,787 |
| Accounts payable and accrued expenses | $1,532 |
| 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 | $31,031 |
| Total liabilities | $32,563 |
| Net assets without donor restrictions | $3,082,224 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,114,787 |
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