Massachusetts Innovation & Technology Exchange Inc

Nonprofit profile at a glance

EIN
043295018
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Boston, MA, USA
Phone
6172274500
Rating confidence
Limited
Sector
Media, Communications Organizations

Reported finances

Revenue
$132,327
Expenses
$118,208
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • AMY QUIGLEY (PRESIDENT (THROUGH 2/26/20))

Highest reported compensation

  • AMY QUIGLEY (PRESIDENT (THROUGH 2/26/20)): $204,019 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a forum for the association of technologists, marketers and others involved in the interactive media industry in order to promote the commonwealth of Massachusetts as the world center for digital innovation.

What it reported doing in 2020

Various seminars, networking events and achievement awards events designed to recognize and promote education and success in the interactive media industry of Massachusetts.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 66
  • Sustainability: 26
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.7%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 56.7%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -13% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -7.5% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -22.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 19 of 20 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $204K · 20 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.