ASSOCIATED INDUSTRIES OF MASSACHUSETTS INC

EIN: 041045830

BOSTON, MA

Total Revenue
$6,090,457
Total Expenses
$5,959,409
Total Assets
$12,655,886
Net Assets
$8,762,667
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1915
Legal Domicile
MA
Principal Officer
BROOKE M THOMSON
Phone
6172621180
Tax Period
2023-01-01 to 2023-12-31

ASSOCIATED INDUSTRIES OF MASSACHUSETTS INC, founded in 1915, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

AS THE LARGEST NONPROFIT, NONPARTISAN ASSOCIATION OF MASSACHUSETTS EMPLOYERS, AIM'S MISSION IS TO PROMOTE THE WELL-BEING OF ITS MEMBERS AND THEIR EMPLOYEES AND THE PROSPERITY OF MASSACHUSETTS... (SEE SCHEDULE O).... BY IMPROVING THE ECONOMIC CLIMATE OF MASSACHUSETTS, ADVOCATING FAIR AND EQUITABLE PUBLIC POLICY AND PROVIDING RELEVANT, RELIABLE INFORMATION AND EXCELLENT SERVICES.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

WORKED ON BEHALF OF MASSACHUSETTS EMPLOYERS TO IMPROVE THE ECONOMIC CLIMATE IN MASSACHUSETTS; PROVIDED RELEVANT AND RELIABLE INFORMATION AND ADVOCATED FOR FAIR AND EQUITABLE PUBLIC POLICIES THROUGH...

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WORKED ON BEHALF OF MASSACHUSETTS EMPLOYERS TO IMPROVE THE ECONOMIC CLIMATE IN MASSACHUSETTS; PROVIDED RELEVANT AND RELIABLE INFORMATION AND ADVOCATED FOR FAIR AND EQUITABLE PUBLIC POLICIES THROUGH LEGISLATIVE AND REGULATORY ACTIVITIES AND PUBLIC AFFAIRS PROGRAMS. DEVELOPED AND DELIVERED EDUCATIONAL SEMINARS AND MEETINGS TO PROVIDE GENERAL OR TECHNICAL INFORMATION ON ISSUES IMPACTING EMPLOYERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $100,000
Program Service Revenue $4,844,270
Investment Income $-144,969
Other Revenue $1,291,156
TOTAL REVENUE $6,090,457

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,810,855
Fundraising Expenses $0
Other Expenses $1,148,554
TOTAL EXPENSES $5,959,409

Year-over-Year Comparison

2023 2022 Change
Revenue $6,090,457 $6,522,715 -0.1%
Expenses $5,959,409 $5,713,906 +0.0%
Net Income $131,048 $808,809 -0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
53
Independent Members
53
Employees
54
Volunteers
53

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$1,705,043
Total Directors
68
$853,358
Key Employees
2
$478,635
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN R REGAN NON-VOTING PRES(THRU 06/2023)/CEO(THRU 12/2023) 33.00
Officer Director
$459,039 $30,219 $489,258
BROOKE M THOMSON NON-VOTING EXEC VP(THRU 06/23)/PRES(AS OF 07/23) 34.90
Officer Director
$350,819 $13,281 $364,100
PATRICIA BEGROWICZ CHAIR 1.00
Officer Director
$0 $0 $0
GREGORY BUSCONE TREASURER/VICE CHAIR (AS OF 05/2023) 1.00
Officer Director
$0 $0 $0
ANNEMARIE ABDO DIRECTOR (AS OF 05/2023) 1.00
Director
$0 $0 $0
ROBERT BABCOCK DIRECTOR 1.00
Director
$0 $0 $0
JOE BAHENA DIRECTOR 1.00
Director
$0 $0 $0
DONALD BALDINI ESQ DIRECTOR 1.00
Director
$0 $0 $0
PHYLLIS BARAJAS DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM C BLANKER DIRECTOR 1.00
Director
$0 $0 $0
ANNE BROHOLM DIRECTOR 1.00
Director
$0 $0 $0
DAVID BUGBEE DIRECTOR 1.00
Director
$0 $0 $0
BRIAN BURKE DIRECTOR 1.00
Director
$0 $0 $0
SAMUEL CABOT III DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL T CALIJOUW DIRECTOR (AS OF 01/2023) 1.00
Director
$0 $0 $0
CAROL CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
TRICIA CANAVAN DIRECTOR 1.00
Director
$0 $0 $0
KRISTIN E CARLSON DIRECTOR 1.00
Director
$0 $0 $0
ADAM CHASE DIRECTOR 1.00
Director
$0 $0 $0
PETER R CHASE DIRECTOR 1.00
Director
$0 $0 $0
SCOTT CHATLIN DIRECTOR 1.00
Director
$0 $0 $0
TORRANCE CHILDS DIRECTOR (THRU 08/2023) 1.00
Director
$0 $0 $0
JEFF CROWLEY DIRECTOR 1.00
Director
$0 $0 $0
MARTIN D'ERAMO DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
JACK DERBY DIRECTOR 1.00
Director
$0 $0 $0
JOHN DOUCETTE DIRECTOR 1.00
Director
$0 $0 $0
JANELL DUBSKY DIRECTOR 1.00
Director
$0 $0 $0
HERBY DUVERNE DIRECTOR 1.00
Director
$0 $0 $0
GARY EVEE DIRECTOR (AS OF 01/2023) 1.00
Director
$0 $0 $0
CHRISTINA FISHER DIRECTOR 1.00
Director
$0 $0 $0
HOWARD J GOLDMAN DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
STEVE GRANDE DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
WILLIAM F GRANT DIRECTOR 1.00
Director
$0 $0 $0
LESLIE E GREIS DIRECTOR 1.00
Director
$0 $0 $0
CHRISTA HAGEARTY DIRECTOR 1.00
Director
$0 $0 $0
CHARLES HATCH DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
JOANNE K HILFERTY DIRECTOR 1.00
Director
$0 $0 $0
CAROL HOLAHAN DIRECTOR 1.00
Director
$0 $0 $0
DOMINICK IANNO DIRECTOR 1.00
Director
$0 $0 $0
MARIE JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
TED L KANE DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL E KENEALLY DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
DANIEL C KENARY DIRECTOR 1.00
Director
$0 $0 $0
PIA KUMAR DIRECTOR 1.00
Director
$0 $0 $0
DONNA LATSON GITTENS DIRECTOR/CLERK (AS OF 05/2023) 1.00
Officer Director
$0 $0 $0
MARIANNE LANCASTER DIRECTOR 1.00
Director
$0 $0 $0
JESS LEE DIRECTOR (AS OF 01/2023) 1.00
Director
$0 $0 $0
EMILLEY LOCKHART DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
JOHN M LYNCH ESQ DIRECTOR 1.00
Director
$0 $0 $0
JAMES MCCARTHY DIRECTOR 1.00
Director
$0 $0 $0
EZEQUIEL MONTEMAYOR DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
SUZANNE NADESKI DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
DEREK OLIVER DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
THOMAS PACHECO DIRECTOR (THRU 08/2023) 1.00
Director
$0 $0 $0
KRINA PATEL DIRECTOR 1.00
Director
$0 $0 $0
SRINIVAS REDDY DIRECTOR (THRU 08/2023) 1.00
Director
$0 $0 $0
EMILY REICHERT PHD DIRECTOR (THRU 05/2023) 1.00
Director
$0 $0 $0
CATHY ROCHELEAU DIRECTOR (AS OF 01/2023) 1.00
Director
$0 $0 $0
ANTHONY SAMUELS DIRECTOR 1.00
Director
$0 $0 $0
ELAINE SHANNON DIRECTOR (AS OF 05/2023) 1.00
Director
$0 $0 $0
JESSE STANESA DIRECTOR 1.00
Director
$0 $0 $0
JOHN C STOWE DIRECTOR 1.00
Director
$0 $0 $0
MARCELO SUAREZ-OROZCO DIRECTOR 1.00
Director
$0 $0 $0
MEGHAN SULLIVAN DIRECTOR 1.00
Director
$0 $0 $0
LYNN TOKARCZYK DIRECTOR 1.00
Director
$0 $0 $0
NATHAN TUAN PHAM DIRECTOR 1.00
Director
$0 $0 $0
DANIEL WALSH DIRECTOR (AS OF 05/2023) 1.00
Director
$0 $0 $0
LUIS YEPEZ DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER KEALEY EXEC VP & COO 31.50
Officer
$339,417 $38,806 $378,223
SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRATION 33.00
Officer
$208,758 $16,414 $225,172
CHRISTOPHER P GEEHERN - CLERK (THRU 05/2023)/EXEC VP-PUB AFF & COM 35.00
Officer
$227,978 $20,312 $248,290
ROBERT S PAINE EXEC VP-MEMBERSHIP, SALES & ENGMT. 35.00
Key Emp
$245,173 $37,988 $283,161
STEPHANIE L SWANSON AS OF 07 2023)/EXEC VP-GOVERNMENT AFFAIRS 35.00
Key Emp
$189,151 $6,323 $195,474
KYLE J PARDO EXEC VP, AIMHR SOLUTIONS 2.00
Highest
$241,694 $10,353 $252,047
KAREN WALLACE EXEC VP, MARKETING 35.00
Highest
$216,758 $16,628 $233,386
THERESA A COOK SR VP - EMPLOYER SERVICE 7.00
Highest
$163,044 $7,224 $170,268
CHRIS F DEMATOS VP, INFORMATION TECHNOLOGY & INFRA. 33.00
Highest
$160,903 $32,045 $192,948
SAMUEL W LARSON VP, GOVT AFFAIRS & LEGAL COUNCIL 35.00
Highest
$149,753 $15,638 $165,391
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $6,090,457 $5,959,409 $12,655,886 $131,048
2022 $6,522,715 $5,713,906 $11,712,253 $808,809
2021 $6,472,920 $5,917,042 $12,362,596 $555,878
2020 $6,041,025 $6,074,550 $11,568,615 $-33,525
2019 $6,270,273 $6,163,723 $11,205,714 $106,550
2018 $6,948,332 $5,796,291 $10,532,742 $1,152,041
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