Boardsource
- Assets
- $10.1m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 23
- Location
- Washington, DC
- Founding
- 08/1990
- Data as of
- 12/2023
- EIN
- 52-1681375
Organization Overview
Boardsource is located in Washington, DC. The organization was established in 1990. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Boardsource employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boardsource 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 12/2023, Boardsource generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $4.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE AND SUPPORT NONPROFIT BOARDS AND EXECUTIVES TO LEAD JUSTLY AND WITH PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECTOR LEADERSHIP INITIATIVES:BOARDSOURCE'S RESEARCH AND LEADERSHIP CALLS ATTENTION TO THE IMPORTANCE OF STRONG BOARDS, CREATING AWARENESS AND ACTION AROUND CHALLENGES FACING NONPROFIT LEADERS AND IDENTIFYING OPPORTUNITIES TO UNLEASH GREATER IMPACT FOR THE SECTOR AS A WHOLE. BOARDSOURCE'S LEADERSHIP ALSO FOCUSES ON IDENTIFYING AND INTERPRETING TRENDS IMPACTING NONPROFIT LEADERSHIP PERFORMANCE AND EFFECTIVENESS AND GENERATING EVIDENCE-BASED RECOMMENDATIONS FOR BOARD PRACTICE. OF PARTICULAR IMPORTANCE IS BOARDSOURCE'S WORK TO UNDERSTAND AND ADDRESS THE LACK OF RACIAL AND ETHNIC DIVERSITY ON NONPROFIT BOARDS, WHICH WE BELIEVE IS ESSENTIAL TO THE SOCIAL SECTOR'S ABILITY TO ADVANCE THE PUBLIC GOOD AND CREATE A MORE JUST AND EQUITABLE SOCIETY, AND WE CONTINUE TO PROMOTE AND EXPAND THESE CONVERSATIONS. BOARDSOURCE BELIEVES IT IS TIME FOR REAL CHANGE IN THE WAY THAT BOARDS UNDERSTAND AND EMBODY THEIR LEADERSHIP ROLE, WHICH HAS LED US TO DO DEEP THINKING ABOUT WHAT IT WOULD TAKE TO CHANGE. WE ARE AMPLIFYING OUR EFFORTS TO ENGAGE WITH AUDIENCES WITHIN THE NONPROFIT COMMUNITY TO CIRCULATE LEADERSHIP PRACTICES THAT BEST MEET THE NEEDS OF EACH ORGANIZATION AND THE CHALLENGES THEY FACE.
EDUCATIONAL PROGRAMS FOR MEMBERS:BOARDSOURCE SUPPORTS THE TECHNICAL SUPPORT AND EDUCATIONAL NEEDS OF NONPROFIT LEADERS, BOARDS, AND ORGANIZATIONS THROUGH A SET OF MEMBERSHIP PROGRAMS DESIGNED FOR NONPROFIT ORGANIZATIONS AND INDIVIDUAL LEADERS (INCLUDING PROGRAMS WITH GROUP ACCESS TO INDIVIDUAL MEMBERSHIP SUPPORT FOR FOUNDATIONS, FEDERATED NETWORKS, AND CORPORATIONS). THESE PROGRAMS PROVIDE OPEN ACCESS TO BOARDSOURCE'S ONLINE LIBRARY OF BOARD LEADERSHIP AND GOVERNANCE RESOURCES, AS WELL AS TECHNICAL ASSISTANCE FROM AN ON-STAFF GOVERNANCE SPECIALIST. BOARDSOURCE ALSO OFFERS THE BOARD SUPPORT PROGRAM, WHICH PROVIDES MORE IN-DEPTH SUPPORT FOR NONPROFIT BOARDS INCLUDING AN ANNUAL BOARD SELF-ASSESSMENT AND A BOARD ORIENTATION CERTIFICATE PROGRAM.
ASSESSMENT SERVICES:BOARDSOURCE'S ASSESSMENT SERVICES HELP ORGANIZATIONS IDENTIFY CORE ISSUES IN THEIR BOARD PERFORMANCE AND DEVELOPMENT. IN 2023, BOARDSOURCE DELIVERED OVER 1,000 BOARD SELF ASSESSMENTS AND CHIEF EXECUTIVE ASSESSMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Shamley Chair | OfficerTrustee | 3 | $0 |
Julia Wilson Chair - Until 9/2023 | OfficerTrustee | 3 | $0 |
Kevin Walker Vice Chair | OfficerTrustee | 3 | $0 |
Keith Liederman Treasurer | OfficerTrustee | 4 | $0 |
Terri Lee Freeman Secretary - Starting 09/2023 | OfficerTrustee | 3 | $0 |
Carol Goss Secretary, Term Ended 12/2023 | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Board Member Connect Board Matching Consulting Services | 12/30/23 | $171,699 |
Media Cause Inc Marketing Services | 12/30/23 | $155,320 |
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 | $756,323 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $756,323 |
| Total Program Service Revenue | $2,829,706 |
| Investment income | $242,423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77,690 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,928 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $148,279 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,124,939 |
| 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. | $467,973 |
| Compensation of current officers, directors, key employees. | $182,847 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,830,673 |
| Pension plan accruals and contributions | $55,728 |
| Other employee benefits | $106,595 |
| Payroll taxes | $178,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,507 |
| Fees for services: Accounting | $29,908 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,450 |
| Fees for services: Other | $575,268 |
| Advertising and promotion | $1,909 |
| Office expenses | $87,777 |
| Information technology | $192,710 |
| Royalties | $11,766 |
| Occupancy | $365,066 |
| Travel | $49,297 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,099 |
| Interest | $11,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,228 |
| Insurance | $45,354 |
| All other expenses | $65,436 |
| Total functional expenses | $4,695,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $330 |
| Savings and temporary cash investments | $866,573 |
| Pledges and grants receivable | $203,500 |
| Accounts receivable, net | $114,780 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $58,392 |
| Prepaid expenses and deferred charges | $284,238 |
| Net Land, buildings, and equipment | $675,966 |
| Investments—publicly traded securities | $7,162,779 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $745,170 |
| Total assets | $10,111,728 |
| Accounts payable and accrued expenses | $250,824 |
| Grants payable | $0 |
| Deferred revenue | $1,120,614 |
| 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 | $858,940 |
| Total liabilities | $2,230,378 |
| Net assets without donor restrictions | $7,347,792 |
| Net assets with donor restrictions | $533,558 |
| 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 | $10,111,728 |