The Salem Partnership Inc

Nonprofit profile at a glance

EIN
042996598
IRS 990-EZ coverage
2015–2024
Forms available
Form 990-EZ 2024
Location
Salem, MA, USA
Phone
9787418100
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$118,233
Expenses
$125,494
Assets
$203,642
Liabilities
$3,147

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

Leadership & pay

7 people listed

Executive titles in this filing

  • John Keenan (President)
  • Elizabeth Debski (Executive Director)
  • Lynda Hartigan (Vice President)
  • Thomas Daniel (Vice President)

People named in this filing

  • Joseph Riley (Chairman)
  • John Keenan (President)
  • Elizabeth Debski (Executive Director)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Salem Partnership works on key specific long-range economic initiatives for Salem and the region, focusing on Courts, Ports and Transportation. The Partnership's main focus is on the advocacy of the South Salem Commuter Rail Stop Project. The Partnership also actively participates in "Quality of Life" initiatives, with an emphasis on making Salem a better place to live and work.The Salem Partnership is directly involved in determining the outcome of issues critical to the greater Salem community. The members of the Partnership believe that a strong community creates a prosperous business climate.

What it reported doing in 2024

Serves as a Member of City's Economic Recovery and Revitalization (EDRR) Task Force to focus on business and community support; the Salem Chamber of Commerce Executive Committee and Board of Directors; the Salem State University Assistance Corporation Board; and the Board of the North Shore Alliance for Economic Development.

Operating model

Revenue model
Membership-supported. 94% of the money available for current operations came from membership dues.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - 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: 0
  • Transparency & Controls: 82
  • Sustainability: 36
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -6.1%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.62; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 67.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 12.1% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 4 filed program accomplishments
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2015 to 2024
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.