Capital Network Of New England Inc
- Assets
- $66.3k
- Revenue
- $121.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Boston, MA
- Founding
- 08/2005
- Data as of
- 06/2023
- EIN
- 68-0593779
Organization Overview
Capital Network Of New England Inc is located in Boston, MA. The organization was established in 2005. According to its NTEE Classification (J02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Employment and related organizations. As of 06/2023, Capital Network Of New England Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capital Network Of New England 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 06/2023, Capital Network Of New England Inc generated $121.5k 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 (3.9%) each year. All expenses for the organization totaled $306.8k during the year ending 06/2023. 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 PROVIDE PRACTICAL, HANDS-ON EDUCATION AND PERSONALIZED MENTORING TO HELP EARLY-STAGE ENTREPRENEURS MASTER THE ENTIRE FUNDING PROCESS AND SUCCESSFULLY RAISE SEED CAPITAL AND BEYOND. WE KNOW FUNDRAISING IS HARD SO WE PROVIDE ENTREPRENEURS WITH THE RIGHT NETWORK AND PROGRAMMING. WE RUN OPEN PROGRAMMING (OPEN TO ALL) AND A FELLOWSHIP FOR FEMALE FOUNDERS TO HELP MORE WOMEN BE READY TO RAISE THEIR FIRST OUTSIDE CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMMING TO EDUCATE FIRST-TIME FOUNDERS OF EARLY STAGE STARTUPS ON THE PROCESS OF RAISING OUTSIDE CAPITAL, WITH A FOCUS ON WOMEN FOUNDERS AND PROMOTING AN INCLUSIVE ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Asad Butt Board Chairm | Trustee | 4 | $0 |
Joshua French Clerk | OfficerTrustee | 2 | $0 |
Cecilia Frerotte Treasurer | OfficerTrustee | 2 | $0 |
Sheila Narayan Board Member | Trustee | 4 | $0 |
Banu Ozkaznac-Pan Board Member | Trustee | 1 | $0 |
Meagan Spencer Board Member | Trustee | 1 | $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 | $109,844 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $109,844 |
| Total Program Service Revenue | $11,635 |
| 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 | $121,479 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,443 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,403 |
| Payroll taxes | $16,152 |
| Fees for services: Management | $18,594 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,187 |
| Office expenses | $7,745 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $564 |
| 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 | $0 |
| Insurance | $3,442 |
| All other expenses | $0 |
| Total functional expenses | $306,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,265 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $66,265 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $66,265 |
| 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 | $66,265 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Fedcap Group Inc New York, NY | $27,129,496 | $24,697,027 |
Sheet Metal Workers Labor Management Committee And Trust Brewster, NY | $2,400,391 | $1,374,290 |
New Majority Capital Foundation Inc Wakefield, MA | $956,877 | $1,529,464 |
Communication Workers Of America New York, NY | $160,762 | $409,772 |
Capital Network Of New England Inc Boston, MA | $66,265 | $121,479 |
Laborers Local 754 Labor-Management Committee Chestnut Ridge, NY | $42,588 | $0 |