MASSACHUSETTS ALLIANCE FOR ECONOMIC DEVELOPMENT INC

EIN: 043172007

WATERTOWN, MA

Total Revenue
$575,525
Total Expenses
$700,443
Total Assets
$164,069
Net Assets
$110,913
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MA
Principal Officer
PETER ABAIR
Phone
6179244600
Tax Period
2024-07-01 to 2025-06-30

MASSACHUSETTS ALLIANCE FOR ECONOMIC DEVELOPMENT INC, founded in 1993, is a small nonprofit that reported $576K in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $700K exceeded revenue, resulting in a 22% operating deficit.

Mission

PROVIDES PROGRAMS AND SERVICES TO SUPPORT THE RETENTION AND GROWTH OF BUSINESS AND JOBS IN MASSACHUSETTS

Program Service Accomplishments

Program 1
Expenses: $477,206 Revenue: $572,589

MARKETING MASSACHUSETTS BY PROVIDING INFORMATION SERVICES TO COMPANIES SEEKING TO EXPAND WITHIN OR RELOCATE TO MASSACHUSETTS; ENHANCE JOB CREATION AND ECONOMIC BASE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $572,589
Program Service Revenue $0
Investment Income $2,936
Other Revenue $0
TOTAL REVENUE $575,525

Expense Breakdown

Grants Paid $0
Salaries & Benefits $541,974
Fundraising Expenses $108,573
Program Expenses $477,206
Other Expenses $158,469
TOTAL EXPENSES $700,443

Year-over-Year Comparison

2024 2023 Change
Revenue $575,525 $818,130 -0.3%
Expenses $700,443 $730,542 0.0%
Net Income $-124,918 $87,588 -2.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
26
Independent Members
26
Employees
4
Volunteers
N/A

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
6
$170,484
Total Directors
27
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DENISE MCGEOUGH IMMEDIATE PAST CHAIRMAN 1.00
Director
$0 $0 $0
BONNIE SULLIVAN CHAIR 1.00
Officer Director
$0 $0 $0
MICHAEL SCOTT TREASURER 1.00
Officer Director
$0 $0 $0
GEOFF HOWELL CLERK 1.00
Officer Director
$0 $0 $0
DORRIAN COHEN FRAGOLA VICE CHAIR 1.00
Officer Director
$0 $0 $0
PAUL BAUER DIRECTOR 1.00
Director
$0 $0 $0
BRIAN COHEN DIRECTOR 1.00
Director
$0 $0 $0
TIFFANY GALLO DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM HARRIS DIRECTOR 1.00
Director
$0 $0 $0
RICH HOLLWORTH DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL HOULLAHAN DIRECTOR 1.00
Director
$0 $0 $0
LAUREN LISS DIRECTOR 1.00
Director
$0 $0 $0
DOUG LANDRY DIRECTOR 1.00
Officer Director
$0 $0 $0
CHRIS STEELE DIRECTOR 1.00
Director
$0 $0 $0
MEREDITH HARRIS DIRECTOR 1.00
Director
$0 $0 $0
SEAN O'BRIEN DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL VEDOVELLI DIRECTOR 1.00
Director
$0 $0 $0
BILL KANE DIRECTOR 1.00
Director
$0 $0 $0
JIM BAUDROT DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN FLAVIN DIRECTOR 1.00
Director
$0 $0 $0
PATRICIA TIMILTY DIRECTOR 1.00
Director
$0 $0 $0
ODILE SMITH DIRECTOR 1.00
Director
$0 $0 $0
JACK HOGAN DIRECTOR 1.00
Director
$0 $0 $0
TAYLOR PEDERSON DIRECTOR 1.00
Director
$0 $0 $0
DAVID ORTENDAHL DIRECTOR 1.00
Director
$0 $0 $0
TYSON REYNOSO DIRECTOR 1.00
Director
$0 $0 $0
JOHN HYNES IV DIRECTOR 1.00
Director
$0 $0 $0
PETER ABAIR EXECUTIVE DIRECTOR 40.00
Officer
$170,484 $0 $170,484
DOUGLAS KEHLHEM SENIOR DIRECTOR 40.00
Highest
$111,965 $0 $111,965
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
2025 $575,525 $700,443 $164,069 $-124,918
2024 No data No data No data No data
2023 $482,566 $747,965 $228,581 $-265,399
2022 $610,661 $677,852 $473,460 $-67,191
2021 $491,193 $519,078 $510,747 $-27,885
2020 $712,771 $616,669 $533,205 $96,102
2019 $519,124 $663,237 $569,715 $-144,113
2018 $563,385 $527,596 $756,948 $35,789
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