True Costs Initiative Inc
- Assets
- $134.7k
- Revenue
- $936.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Brookline, MA
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-3796649
Organization Overview
True Costs Initiative Inc is located in Brookline, MA. The organization was established in 2017. According to its NTEE Classification (Q05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. True Costs Initiative 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 12/2022, True Costs Initiative Inc generated $936.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.9% each year . All expenses for the organization totaled $864.9k during the year ending 12/2022. While expenses have increased by 23.3% per year over the past 4 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRUE COSTS INITIATIVE (TCI) SEEKS TO INCREASE CORPORATE ACCOUNTABILITY AND TO STRENGTHEN LEGAL SYSTEMS IN THE GLOBAL SOUTH BY DRIVING COLLABORATION AMONG COMMUNITIES, FUNDERS, AND CREATIVE LEADERS IN AN EFFORT TO TIP THE BALANCE SO CORPORATIONS ARE HELD ACCOUNTABLE FOR AND INTERNALIZE THE TRUE ENVIRONMENTAL AND HUMAN COSTS OF THEIR ACTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TCI PROVIDED RECOMMENDATIONS FOR FUNDING 64 NGOS WHICH ADVANCE CORPORATE ACCOUNTABILITY AND THE RULE OF LAW. TCI FACILITATED COLLABORATION BETWEEN 4 GRANTEE PARTNERS, FUNDERS, AND COMMUNITY EXPERTS TO SUPPORT GRANTEE PARTNERS IN EXPANDING THEIR FUNDER BASE. TCI EVALUATED FUNDING THAT NGOS LEVERAGED WITH TCI-RECOMMENDED FUNDING. TCI SUPPORTED 11 SCIENCE AND LAW FELLOWS IN FELLOWSHIP PROGRAMS WITH HOST NGOS. THE ORGANIZATION PUBLISHED ARTICLES AND ENGAGED IN 4 SPEAKING EVENTS WITH FUNDERS, ACADEMICS, COMMUNITY ORGANIZERS, AND STUDENTS. TCI CONTINUED TO WORK WITH OTHER NGO'S TO DEVELOP TRAINING AND EDUCATIONAL PROGRAMS AND LEARNING AGENDAS; INCREASED THE CAPACITY OF THESE NGOS BY MENTORING; AND PROVIDED VULNERABLE COMMUNITIES WITH ACCESS TO LEGAL AND TECHNICAL TOOLS AND KNOWLEDGE INFRASTRUCTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Conniel Malek Executive Director | OfficerTrustee | 50 | $272,711 |
Hashim Bello Director And Board Chair | OfficerTrustee | 0.5 | $0 |
Mihir Munshi Director And Secretary | OfficerTrustee | 0.5 | $0 |
Shushanna Mignott Board Member | Trustee | 0.5 | $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 | $905,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $905,000 |
| Total Program Service Revenue | $29,612 |
| 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 | $936,012 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,815 |
| 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. | $283,209 |
| Compensation of current officers, directors, key employees. | $54,326 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $306,080 |
| Pension plan accruals and contributions | $9,391 |
| Other employee benefits | $35,359 |
| Payroll taxes | $41,925 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,964 |
| Fees for services: Accounting | $35,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,955 |
| Advertising and promotion | $12,934 |
| Office expenses | $6,538 |
| Information technology | $16,636 |
| Royalties | $0 |
| Occupancy | $35,825 |
| Travel | $48,123 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,004 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,819 |
| All other expenses | $0 |
| Total functional expenses | $864,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,015 |
| 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 | $20,674 |
| 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 | $134,689 |
| Accounts payable and accrued expenses | $4,611 |
| 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 | $4,611 |
| Net assets without donor restrictions | $125,078 |
| Net assets with donor restrictions | $5,000 |
| 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 | $134,689 |