Associated Industries of Massachusetts Foundation Inc

Nonprofit profile at a glance

EIN
223127535
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Boston, MA, USA
Phone
6172621180
Rating confidence
Limited
Sector
General Science

Official website

Reported finances

Revenue
$0
Expenses
$206,024
Assets
$10,574
Liabilities
$704,128

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • BROOKE M THOMSON (PRESIDENT)

Highest reported compensation

  • BROOKE M THOMSON (PRESIDENT): $499,048 total reported compensation
  • CHRISTOPHER KEALEY (DIRECTOR): $403,399 total reported compensation
  • SARALEE G SESNOVICH (TREASURER): $242,123 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The aim foundation provides unbiased research and education on issues of public interest with the objective of creating an economy that builds opportunity for all the citizens of Massachusetts. (see schedule o).the foundation emphasizes issues that affect business growth and competitiveness, economic inclusion of historically underrepresented groups, and the availability of training and education needed to keep Massachusetts as a global center of innovation and commerce.

What it reported doing in 2024

The foundation performs research, education and production of in-depth non-partisan analysis related to issues of public policy in Massachusetts. Additionally, the aim foundation has expanded its initiatives to include a supplier diviersity program to support and expand diverse and inclusive purchasing by Massachusetts businesses. This program is intended to decrease the racial wealth gap by advancing inclusive procurement throughout the business ecosystem of the commonwealth.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 3
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0.05; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 66.59; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 35%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -28% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -4.9% per year; rating input score 0; 43rd percentile among comparable filings
  • Asset growth: 24.7% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 90.1% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $186K in reported program spending
  • Leadership: top reported pay $499K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.