Tie-Boston Foundation Inc
- Assets
- $472.8k
- Revenue
- $242.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Cambridge, MA
- Founding
- 08/2019
- Data as of
- 12/2022
- EIN
- 83-2946128
Organization Overview
Tie-Boston Foundation Inc is located in Cambridge, MA. The organization was established in 2019. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Tie-Boston Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tie-Boston Foundation 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, Tie-Boston Foundation Inc generated $242.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $225.4k during the year ending 12/2022. 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
TO ENCOURAGE, SUPPORT AND NURTUE ENTREPRENEURSHIP AMOUNG YOUNG PROFESSIONALS BY PROVIDING EDUCATIONAL, MENTORING, AND OTHER ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TIE BOSTON FOUNDATION CREATES A NEW LEARNING ENVIRONMENT WHERE HIGH SCHOOL AGED PARTICIPANTS CAN EXPERIMENT, BUILD RESILIENCE AND COLLABORATE TO CREATE MORE PRODUCTIVE AND SUCCESSFUL PATHWAYS TO THEIR PERSONAL AND PROFESSIONAL GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Quigley Mellor Tye Program Director | Officer | 40 | $25,000 |
Yash Shah President | Officer | 3 | $0 |
Rakesh Kamdar Treasurer | Officer | 1 | $0 |
Emily Ladd-Kravitz Secretary | Officer | 1 | $0 |
Guarav Mallik Director | Trustee | 1 | $0 |
Anupendra Sharma Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,400 |
| Noncash contributions included in lines 1a–1f | $2,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,800 |
| Total Program Service Revenue | $218,938 |
| 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 | $242,738 |
| 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 | $80,668 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $2,643 |
| All other expenses | $82,449 |
| Total functional expenses | $225,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $469,729 |
| 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 | $2,641 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $460 |
| Total assets | $472,830 |
| Accounts payable and accrued expenses | $43,160 |
| Grants payable | $0 |
| Deferred revenue | $51,825 |
| 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 | $94,985 |
| Net assets without donor restrictions | $377,845 |
| 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 | $472,830 |