Masschallenge
- Assets
- $11.7m
- Revenue
- $13.0m
- Investments
- $0.0
- Employees
- 104
- Location
- Boston, MA
- Founding
- 04/2010
- Data as of
- 12/2021
- EIN
- 27-0382989
Organization Overview
Masschallenge is located in Boston, MA. The organization was established in 2010. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Masschallenge employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masschallenge 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, Masschallenge generated $13.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $13.2m during the year ending 12/2021. While expenses have increased by 8.4% 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.
Since 2014, Masschallenge has awarded 291 individual grants totaling $12,630,696. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF MASSCHALLENGE IS TO HELP ENTREPRENEURS LAUNCH AND GROW SUCCESSFUL ENTERPRISES. WE DO IT THROUGH SPONSORING A $1M STARTUP COMPETITION TO CATALYSE BUSINESS AND JOB CREATION IN MASSACHUSETTS AND RUNNING A 4 MONTH ACCELERATOR PROGRAM TO CONNECT ENTREPRENEURS WITH THE RESOURCES NEEDED TO GROW THEIR ENTERPRISES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAN A GLOBAL STARTUP COMPETITION IN BOSTON, MA WITH 1200+ APPLICANTS FROM ACROSS THE US AND THE WORLD.SELECTED 125 COMPANIES TO ENTER A 4 MONTH ACCELERATOR PROGRAM.THE 125 COMPANIES IN THE ACCELERATOR PROGRAM RECEIVED FREE OFFICE SPACE, SEVERAL EDUCATIONAL AND NETWORKING EVENTS, ACCESS TO 400+ MENTORS, AND ACCESS TO MULTI MILLION IN-KIND SPONSORSHIPS FROM VARIOUS CORPORATE SPONSORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Siobhan Dullea Ceo/president | OfficerTrustee | 40 | $333,880 |
David Herrick Cpo | Officer | 40 | $293,467 |
Lauren Dougherty Treasurer/clerk/coo | Officer | 40 | $275,000 |
Jason Pulsifer Vice President Of Finance | Officer | 40 | $225,254 |
Caitlin Brumme Managing Director | Officer | 40 | $194,108 |
Jonathan Nordby Managing Director | Officer | 40 | $182,153 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thoughtbot Technology Consulting | 12/30/18 | $131,000 |
Omri Baumer Technology Consulting | 12/30/18 | $121,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,690,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,804,494 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,494,894 |
| Total Program Service Revenue | $498,127 |
| Investment income | $0 |
| 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 | $12,993,021 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,284,961 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $115,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,816,158 |
| Compensation of current officers, directors, key employees. | $287,510 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,885,404 |
| Pension plan accruals and contributions | $171,645 |
| Other employee benefits | $556,488 |
| Payroll taxes | $616,817 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $102,284 |
| Fees for services: Accounting | $70,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $93,844 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $963,764 |
| Advertising and promotion | $145,156 |
| Office expenses | $43,825 |
| Information technology | $568,929 |
| Royalties | $0 |
| Occupancy | $952,721 |
| Travel | $78,677 |
| 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 | $24,620 |
| Insurance | $53,069 |
| All other expenses | $68,939 |
| Total functional expenses | $13,201,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,433,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,269,107 |
| Accounts receivable, net | $2,911,964 |
| 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 | $117,822 |
| Net Land, buildings, and equipment | $14,963 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $225,304 |
| Intangible assets | $0 |
| Other assets | $761,065 |
| Total assets | $11,733,602 |
| Accounts payable and accrued expenses | $1,742,691 |
| Grants payable | $0 |
| Deferred revenue | $1,964,706 |
| 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 | $0 |
| Total liabilities | $3,707,397 |
| Net assets without donor restrictions | $1,757,098 |
| Net assets with donor restrictions | $6,269,107 |
| 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 | $11,733,602 |
Grants Awarded
Over the last fiscal year, Masschallenge has awarded $825,000 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
ACOUSTICABIO INC PURPOSE: SEED MONEY FOR EARLY-STAGE ENTREPRENEURS | $100,000 |
ASTRILEUX CORPORATION PURPOSE: SEED MONEY FOR EARLY-STAGE ENTREPRENEURS | $100,000 |
SHEFLY APPAREL LLC PURPOSE: SEED MONEY FOR EARLY-STAGE ENTREPRENEURS | $100,000 |
1440 MEDIA LLC PURPOSE: SEED MONEY FOR EARLY-STAGE ENTREPRENEURS | $50,000 |
SAGESURFER INC PURPOSE: SEED MONEY FOR EARLY-STAGE ENTREPRENEURS | $50,000 |
IQ3CONNECT INC PURPOSE: SEED MONEY FOR EARLY-STAGE ENTREPRENEURS | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Masschallenge has recieved totaling $591,357.
| Awarding Organization | Amount |
|---|---|
Aarp Washington, DC PURPOSE: Sponsorship of events | $187,500 |
Joseph P Kennedy Jr Foundation Washington, DC PURPOSE: GRANT WILL SUPPORT THE DEVELOPMENT OF A PROJECT NAMED THE K FUND. | $125,000 |
Denver Foundation Denver, CO PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Center For The Advancement Of Science In Space Inc Melbourne, FL PURPOSE: MASS CHALLENGE STARTUP ACCELERATOR PROGRAM | $50,000 |
Boger Family Foundation Inc Boston, MA PURPOSE: GENERAL CHARITY | $50,000 |
Arthur F Blanchard F Tr U Agree Pittsburgh, PA PURPOSE: GENERAL OPERATING | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Center For Civic Innovation Inc New York, NY | $21,208,939 | $12,582,443 |
Masschallenge Boston, MA | $11,733,602 | $12,993,021 |
Entrepreneurship For All Inc Lowell, MA | $9,819,862 | $9,183,052 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Commonwealth Kitchen Inc Dorchester, MA | $6,037,148 | $6,037,848 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |
Launch New York Inc Buffalo, NY | $5,910,787 | $3,470,565 |
I C A Group Incorporated Northampton, MA | $909,769 | $1,456,484 |
Media Law Resource Center Inc New York, NY | $2,775,500 | $1,755,345 |
New York & New Jersey Minority Supplier Development Council Inc New York, NY | $2,004,201 | $2,414,706 |
Business Training Institute Inc Utica, NY | $245,817 | $1,451,359 |