The Boston Society Inc
- Assets
- $214.9k
- Revenue
- $252.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Lexington, MA
- Founding
- 01/2005
- Data as of
- 12/2022
- EIN
- 20-1661990
Organization Overview
The Boston Society Inc is located in Lexington, MA. The organization was established in 2005. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2022, Boston Society Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Society 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 12/2022, Boston Society Inc generated $252.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $287.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE BOSTON SOCIETY IS TO PROVIDE A FORUM WHERE EDUCATION, TRAINING, DISCUSSION AND TRADE ASSOCIATION ACTIVITIES FOR SUPPORT OF THE HEALTHCARE COMMUNITY WILL BE FACILITATED. THE ORGANIZATION WAS FOUNDED IN RESPONSE TO A GROWING NEED FOR AN ALTERNATIVE FORUM FOR THE DISCUSSION OF APPLIED PHARMACEUTICAL RESEARCH. THE FOUNDING MEMBERS OF THE BOSTON SOCIETY CREATED A SOCIETY TO ORGANIZE MEETINGS THAT ARE INDUSTRIALLY FOCUSED, WHILE MAINTAINING NON- PROFIT STATUS, RELEVANT VENUE, AND CORRESPONDINGLY LOW RATES. THE ORGANIZATION PROVIDES SEVERAL OF THESE MEETINGS EACH YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL & SCIENTIFIC CONFERENCES CONDUCTED FOR PROFESSIONALS IN THE BIOANALYTICAL SECTOR OF THE HEALTH CARE INDUSTRY. A FORUM ALLOWING THE FDA, AMONG OTHERSE TO PROVIDE UPDATES ON THE CURRENT STATE OF INDUSTRY COMPLIANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elena Tufa Executive Di | Officer | 40 | $104,565 |
Jen Brockman Treasurer | Officer | 10 | $18,163 |
Patrick Bennett Director | Trustee | 1 | $0 |
Hemant Bhutani Director | Trustee | 1 | $0 |
Adam Brockman President | OfficerTrustee | 25 | $0 |
Dieter Drexler Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $252,124 |
| Investment income | $1,035 |
| 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 | $252,403 |
| 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. | $122,729 |
| Compensation of current officers, directors, key employees. | $12,273 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,527 |
| Payroll taxes | $10,142 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,771 |
| Advertising and promotion | $4,085 |
| Office expenses | $13,212 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,488 |
| Travel | $951 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,649 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,912 |
| Insurance | $810 |
| All other expenses | $2,200 |
| Total functional expenses | $287,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,641 |
| Savings and temporary cash investments | $29,461 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,495 |
| 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 | $0 |
| Net Land, buildings, and equipment | $93,329 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $214,926 |
| Accounts payable and accrued expenses | $0 |
| 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 | $942 |
| Total liabilities | $942 |
| Net assets without donor restrictions | $213,984 |
| 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 | $214,926 |