Massachuesetts Education And Career Opportunties Inc
- Assets
- $1.9m
- Revenue
- $3.7m
- Investments
- $174.0k
- Employees
- 42
- Location
- Worcester, MA
- Founding
- 02/1970
- Data as of
- 06/2022
- EIN
- 23-7055676
Organization Overview
Massachuesetts Education And Career Opportunties Inc is located in Worcester, MA. The organization was established in 1970. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2022, Massachuesetts Education And Career Opportunties Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachuesetts Education And Career Opportunties 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, Massachuesetts Education And Career Opportunties Inc generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $3.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Massachuesetts Education And Career Opportunties Inc has awarded 35 individual grants totaling $14,093,833. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MASSEDCO WORKS TO BRIDGE THE EQUITY GAP IN POSTSECONDARY EDUCATION ATTAINMENT FOR LOW-INCOME, FIRST GENERATION, UNDERREPRESENTED AND MARGINALIZED YOUTH AND ADULTS IN MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GEAR UP - ADVISING SERVICES, EVENTS, WORKSHOPS AND FIELD TRIPS FOR LOW INCOME STUDENTS TO STAY IN SCHOOL AND GO TO HIGHER EDUCATION.
ON OUR WAY, BOSTON PUBLIC SCHOOLS, WORCESTER TECHNICAL HIGH SCHOOL
EDUCATIONAL OPPORTUNITY CENTER - 3,644 PEOPLE SERVED THROUGHOUT MASSACHUSETTS, ADVISE ON COLLEGE AND OTHER ADVANCED EDUCATION OPTIONS AND FINANCIAL AID.
TALENT SEARCH - 766 STUDENTS ASSISTED IN A HIGH SCHOOL SETTING. SERVICES INCLUDE ADVISING, WORKSHOPS AND VISITS TO COLLEGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allen J Falke Treasurer | OfficerTrustee | 2 | $0 |
Donald Anderson Clerk | OfficerTrustee | 2 | $0 |
Nicholas Anastasopoulos Director | Trustee | 2 | $0 |
Jason Collier Director | Trustee | 2 | $0 |
Elizabeth Fontaine President | OfficerTrustee | 2 | $0 |
Benjamin Forman Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,000 |
| Related organizations | $0 |
| Government grants | $3,547,954 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,313 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,611,267 |
| Total Program Service Revenue | $98,115 |
| Investment income | $2,862 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,405 |
| 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 | $3,715,649 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,320,869 |
| Grants and other assistance to domestic individuals. | $14,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,135 |
| Compensation of current officers, directors, key employees. | $39,204 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,519,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $257,971 |
| Payroll taxes | $140,614 |
| 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 | $145,544 |
| Advertising and promotion | $650 |
| Office expenses | $131,008 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,141 |
| Travel | $10,461 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,994 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,216 |
| Insurance | $17,018 |
| All other expenses | $0 |
| Total functional expenses | $3,852,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $253,516 |
| Pledges and grants receivable | $302,950 |
| Accounts receivable, net | $7,756 |
| 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 | $33,736 |
| Net Land, buildings, and equipment | $92,073 |
| Investments—publicly traded securities | $492,315 |
| Investments—other securities | $173,973 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $560,132 |
| Total assets | $1,916,451 |
| Accounts payable and accrued expenses | $504,609 |
| Grants payable | $0 |
| Deferred revenue | $23,000 |
| 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 | $560,132 |
| Total liabilities | $1,087,741 |
| Net assets without donor restrictions | $791,237 |
| Net assets with donor restrictions | $37,473 |
| 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 | $1,916,451 |
Grants Awarded
Over the last fiscal year, Massachuesetts Education And Career Opportunties Inc has awarded $1,320,869 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH SHORE COMMUNITY COLLEGE PURPOSE: EDUCATION | $150,864 |
CENTER FOR HEALTH & HUMAN SERVICES INC PURPOSE: EDUCATION | $608,719 |
VALLEY OPPORTUNITY COUNCIL PURPOSE: EDUCATION | $561,286 |