Speech to Text Institute

Nonprofit profile at a glance

EIN
841977931
IRS 990-EZ coverage
2021–2023
Forms available
Form 990-EZ 2023
Location
Wakefield, MA, USA
Phone
7818768914
Rating
45
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$97,287
Expenses
$76,569
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • STEVE TOWNSEND (PRESIDENT & CEO)
  • ANIR DUTTA (VICE PRESIDENT)

People named in this filing

  • STEVE TOWNSEND (PRESIDENT & CEO)
  • ANIR DUTTA (VICE PRESIDENT)
  • DAVID ROSS (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To lead the speech-to-text industry by setting standards of competance, professionalism, and service.

What it reported doing in 2023

To define, modernize, and lead an age-old industry to perpetuate standards across all technologies and connect forward-thinking businesses, practitioners, and educators, as well as to supply news and information and to do all that is necessary to protect the integrity of the legal record.

Operating model

Revenue model
Membership-supported. 83% of the money available for current operations came from membership dues.
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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 17
  • Transparency & Controls: 82
  • Sustainability: 42
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 15.5%; rating input score 15
  • Program expense ratio: 19.7%; rating input score 20

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 21.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -59.5% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 15.8% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: -81.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 15.5% of revenue deployed · 19.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $15K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 15/100.
  • High — Financial Efficiency: Program expense ratio scored 20/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.