Leading Cities Inc
- Assets
- $168.2k
- Revenue
- $382.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Melrose, MA
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-3320189
Organization Overview
Leading Cities Inc is located in Melrose, MA. The organization was established in 2014. According to its NTEE Classification (S05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leading Cities 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, Leading Cities Inc generated $382.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.8% each year . All expenses for the organization totaled $274.1k during the year ending 12/2021. While expenses have increased by 35.9% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADING CITIES CONDUCTS AN ANNUAL EXCHANGE MISSION - A TRIP TO RELEVANT CITIES WORLDWIDE FOR THEM TO SHOWCASE WHAT IS HAPPENING THERE, TO STUDY THEIR BEST AND WORST PRACTICES AND APPLY THOSE LESSONS TO OTHER CITIES. BUSINESS AND CIVIC LEADERS WHO PARTICIPATE IN THE EXCHANGE MISSION THUS HAVE AN OPPORTUNITY TO SEE FOR THEMSELVES WHAT OTHER CITIES ARE DOING AND HOW TO LEARN FROM THAT. THE FIRST SUCH TRIP TOOK PLACE IN OCTOBER 2013 WHEN LEADING CITIES ORGANIZED A TRIP FOR BUSINESS LEADERS FROM THE BOSTON AREA TO TRAVEL TO DUBLIN AND SEE FIRSTHAND WHAT DUBLIN IS DOING TO ATTRACT FOREIGN BUSINESS AND FOSTER ENTREPRENEURSHIP. DURING THE TRIP, PARTICIPANTS AUTHORED SEVERAL BLOG POSTS ABOUT THEIR FINDINGS WHICH WERE THEN PUBLISHED ON BOSTON.COM - A MAJOR ONLINE MEDIA OUTLET IN MASSACHUSETTS. IN THIS WAY, THE PARTICIPANTS ARE ABLE TO SHARE THEIR LEARNING WITH A MUCH WIDER AUDIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lake President/ceo | 40 | $75,000 | |
Joseph Albanese Chairman | 0.5 | $0 | |
Robert Buckley Treasurer | 0.5 | $0 | |
Danielle Duplin Clerk | 0.5 | $0 | |
Stephen Baker Director | 0.5 | $0 | |
Jennifer James Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $382,322 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $382,322 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,000 |
| Other employee salaries and wages | $23,366 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,394 |
| Depreciation | $0 |
| Occupancy | $8,415 |
| Travel, conferences, and meetings | $2,991 |
| Printing and publications | $23 |
| Other expenses | $62,234 |
| Total operating and administrative expenses | $274,056 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $274,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,125 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $160,000 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $57 |
| Total assets | $168,182 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $3,500 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,500 |
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|---|---|---|
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