Masschallenge Inc

Nonprofit profile at a glance

EIN
270382989
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6178630845
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$7,788,018
Expenses
$9,699,589
Assets
$5,317,198
Liabilities
$1,014,296

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

Leadership & pay

24 people listed

Executive titles in this filing

  • CAITLIN BRUMME (CEO/PRESIDENT)

Highest reported compensation

  • CAITLIN BRUMME (CEO/PRESIDENT): $342,850 total reported compensation
  • LISA MCLAUGHLIN (TREASURER/CLERK/COO): $263,193 total reported compensation
  • ERNESTO MARTINEZ ENDED 82324 (HEAD OF DEVELOPMENT & INNO): $238,422 total reported compensation

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

Overview

Mission

To connect entrepreneurs with the resources they need to launch and succeed immediately.the primary activities include running an annual global startup competition, documenting and organizing key resources, and organizing training and networking events and running a 4 month accelerator program designed to help startups grow.

What it reported doing in 2024

Ran a global startup competition in boston, ma with 4000+ applicants from across the us and the world.selected 400 companies to enter a 4 month accelerator program.the 400 companies in the accelerator program received free office space, several educational and networking events, access to 400+ mentors, and access to multi million in-kind sponsorships from various corporate sponsors.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 95% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 66
  • Accountability: 95
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.4%; rating input score 69
  • Program expense ratio: 55.8%; rating input score 56
  • Fundraising efficiency: $3.43 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

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: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -24.5%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 26.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 69.4% of revenue deployed · 55.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.4M in reported program spending
  • Leadership: top reported pay $343K · 24 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $501K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 5 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.

  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.