Crimson Business Education Group
- Assets
- $1.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- 04/2016
- Data as of
- 06/2022
- EIN
- 32-0486460
Organization Overview
Crimson Business Education Group, operating under the name Harvard College Consulting Group, is located in Cambridge, MA. The organization was established in 2016. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harvard College Consulting Group 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, Harvard College Consulting Group generated $1.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $855.6k during the year ending 06/2022. 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 CRIMSON BUSINESS EDUCATION GROUP (CBE) IS DEDICATED TO PREPARING STUDENTS FROM DIVERSE ACADEMIC AND SOCIOECONOMIC BACKGROUNDS TO BE TALENTED, ETHICAL, AND PRODUCTIVE LEADERS IN THE RAPIDLY CHANGING BUSINESS WORLD. CBE ACHIEVES ITS MISSION THROUGH PRO BONO TRAINING SEMINARS, EDUCATIONAL CONFERENCES, BUSINESS COMPETITIONS, CORPORATE SPONSORSHIPS, AND STUDENT MENTORSHIP PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CRIMSON BUSINESS EDUCATION GROUP (CBE) IS DEDICATED TO PREPARING STUDENTS FROM DIVERSE ACADEMIC AND SOCIOECONOMIC BACKGROUNDS TO BE TALENTED, ETHICAL, AND PRODUCTIVE LEADERS IN THE RAPIDLY CHANGING BUSINESS WORLD. CBE ACHIEVES ITS MISSION THROUGH PRO BONO TRAINING SEMINARS, EDUCATIONAL CONFERENCES, BUSINESS COMPETITIONS, CORPORATE SPONSORSHIPS, AND STUDENT MENTORSHIP PROGRAMS. DURING F/Y/E JUNE 30, 2022, THE CBE ISSUED SCHOLARSHIPS TO 71 INDIVIDUALS AND 21 GRANTS TO PROVIDE OTHER IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. THE ORGANIZATION RECEIVES NO DIRECT FINANCIAL SUPPORT FOR ITS PROGRAM ACTIVITIES FROM HARVARD UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clara Li President | OfficerTrustee | 10 | $0 |
Fredericka Lucas Treausurer/clerk | OfficerTrustee | 10 | $0 |
Iris Chen Director | OfficerTrustee | 10 | $0 |
Michael Fein Director | OfficerTrustee | 10 | $0 |
Elizabeth Yang Director | OfficerTrustee | 10 | $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 | $1,205,442 |
| Investment income | $12 |
| 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 | $1,205,454 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,069 |
| Grants and other assistance to domestic individuals. | $34,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $39,600 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $793 |
| Fees for services: Accounting | $12,983 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $32,136 |
| Office expenses | $36,317 |
| Information technology | $6,515 |
| Royalties | $0 |
| Occupancy | $205,666 |
| Travel | $6,728 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,458 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,543 |
| Insurance | $9,929 |
| All other expenses | $505 |
| Total functional expenses | $855,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,140,568 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $437,459 |
| 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 | $230,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,808,569 |
| Accounts payable and accrued expenses | $276 |
| 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 | $131,061 |
| Total liabilities | $131,337 |
| Net assets without donor restrictions | $1,677,232 |
| 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 | $1,808,569 |
Grants Awarded
Over the last fiscal year, Crimson Business Education Group has awarded $19,051 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
AGAINST MALARIA FOUNDATION PURPOSE: TO PROVIDE THESE IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. | $90 |
ARMENIA FUND PURPOSE: TO PROVIDE THESE IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. | $90 |
BIOBUS INC PURPOSE: TO PROVIDE THESE IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. | $210 |
BIRTHDAY CAKES 4 FREE PURPOSE: TO PROVIDE THESE IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. | $60 |
FIRST NATIONS DEVELOPMENT INSTITUTE PURPOSE: TO PROVIDE THESE IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. | $2,330 |
GIVEDIRECTLY PURPOSE: TO PROVIDE THESE IMPORTANT ORGANIZATIONS WITH MORE RESOURCES TO HELP OTHERS. | $3,330 |