The Boston Society Inc
- Assets
- $252.4k
- Revenue
- $162.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Lexington, MA
- Founding
- 01/2005
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Boston Society Inc generated $162.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.5%) each year. All expenses for the organization totaled $209.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 7 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
2021
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 Scientific E | 40 | $106,650 | |
Michael Aceti Cfo/treasure | Officer | 3 | $4,454 |
Adam Brockman President | OfficerTrustee | 25 | $0 |
Larry Elvebak Secretary | Officer | 1 | $0 |
Dieter Drexler Director | Trustee | 1 | $0 |
Cyrus Khojasteh Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,842 |
| 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 | $29,842 |
| Total Program Service Revenue | $131,595 |
| Investment income | $687 |
| 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 | $162,124 |
| 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. | $4,454 |
| Compensation of current officers, directors, key employees. | $4,454 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,172 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,343 |
| Payroll taxes | $10,806 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,321 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,536 |
| Office expenses | $79 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,690 |
| Travel | $771 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,210 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,250 |
| Insurance | $237 |
| All other expenses | $6,905 |
| Total functional expenses | $208,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,439 |
| Savings and temporary cash investments | $30,729 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| 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 | $100,241 |
| Investments—publicly traded securities | $31,524 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $252,433 |
| Accounts payable and accrued expenses | $250 |
| 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 | $698 |
| Total liabilities | $948 |
| Net assets without donor restrictions | $251,485 |
| 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 | $252,433 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Boston Society Inc has recieved totaling $12.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Practising Law Institute New York, NY | $169,437,578 | $109,173,484 |
Bellwether Education Partners Inc Sudbury, MA | $12,819,060 | $18,147,451 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
West Bay Collaborative Inc Warwick, RI | $2,617,303 | $5,710,370 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Nashua Adult Learning Center Inc Nashua, NH | $5,002,850 | $5,676,963 |
Vermont Adult Learning Inc Waitsfield, VT | $1,289,780 | $4,391,996 |
Connecticut Center For Arts & Technology Inc New Haven, CT | $3,075,426 | $11,576,748 |