HIGHER EDUCATION CONSORTIUM OF CENTRAL MASSACHUSETTS INC

EIN: 464753685 501(c)(3) Unknown

WORCESTER, MA

Total Revenue
$206,714
Total Expenses
$209,442
Total Assets
$155,921
Net Assets
$155,921
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
MA
Principal Officer
JEANINE BELCASTRO WENT
Phone
5087559400
Tax Period
2022-07-01 to 2023-06-30

HIGHER EDUCATION CONSORTIUM OF CENTRAL MASSACHUSETTS INC, founded in 2014, is a small nonprofit in the Unknown sector that reported $207K in total revenue in fiscal year 2022. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

HIGHER EDUCATION CONSORTIUM OF CENTRAL MASSACHUSETTS (HECCMA) SERVES AS A MECHANISM THROUGH WHICH MEMBERS AND PARTNER INSITUTIONS SHARE RESOURCES AND COOPERATE FOR THE BENEFIT OF CURRENT AND POTENTIAL STUDENTS, FACULTY, STAFF, AND THE GREATER COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $22,881 Revenue: $40,864

PROMOTING WORCESTER AND THE REGION AS A COLLEGE TOWN AND KNOWLEDGE-BASED ECONOMY - SHARED HOW THE COLLEGES ARE INVOLVED INCONTRIBUTING TO THE LOCAL ECONOMY. INFORMED COMMUNITY ABOUT AREAS WHERE...

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PROMOTING WORCESTER AND THE REGION AS A COLLEGE TOWN AND KNOWLEDGE-BASED ECONOMY - SHARED HOW THE COLLEGES ARE INVOLVED INCONTRIBUTING TO THE LOCAL ECONOMY. INFORMED COMMUNITY ABOUT AREAS WHERE INSTITUTIONS ARE INTERESTED IN FINDING OPPORTUNITIES FOR FUTURE COLLABORATION. ENGAGED WITH LOCAL DPH AND CITY TO ENSURE PANDEMIC COMPLIANCE AND SUPPORT. SERVICES INCLUDED: CROSS REGISTRATION - WORK WITH CAMPUS REGISTRARS AND CAMPUS DATABASE MANAGERS TO PROVIDE A DATABASE OF COURSES AVAILABLE FOR REGISTRATION BY STUDENTS FROM MEMBER COLLEGES. COST EFFECTIVENESS - WORKING WITH PURCHASING DIRECTORS TO PUBLICLY BID OUT SHARED PRODUCTS AND SERVICES. PROVIDED ONLINE STUDENT PROGRAMMING AND NEED-BASED TRAINING TO COLLEGE FACULTY & STAFF INCLUDING TITLE IX AND COMPUTER SKILLS TRAINING.

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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 (2022)

Revenue Breakdown

Contributions & Grants $165,850
Program Service Revenue $40,864
Investment Income $0
Other Revenue $0
TOTAL REVENUE $206,714

Expense Breakdown

Grants Paid $0
Salaries & Benefits $173,252
Fundraising Expenses $0
Program Expenses $22,881
Other Expenses $36,190
TOTAL EXPENSES $209,442

Year-over-Year Comparison

2022 2021 Change
Revenue $206,714 $176,950 +0.2%
Expenses $209,442 $173,577 +0.2%
Net Income $-2,728 $3,373 -1.8%
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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
14
Independent Members
13
Employees
N/A
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
4
$126,525
Total Directors
14
$126,525
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUE GORMAN SECRETARY 1.00
Officer Director
$0 $0 $0
ASHLEIGH JONES TREASURER 1.00
Officer Director
$0 $0 $0
ALASTAIR CRIBB DIRECTOR 0.50
Director
$0 $0 $0
LUIS PEDRAJA DIRECTOR 0.50
Director
$0 $0 $0
VINCENT ROUGEAU DIRECTOR 0.50
Director
$0 $0 $0
GLENN SULMASY DIRECTOR 0.50
Director
$0 $0 $0
JEANINE WENT EXECUTIVE DIRECTOR 37.50
Officer Director
$98,306 $28,219 $126,525
MICHAEL COLLINS DIRECTOR 0.50
Director
$0 $0 $0
MARY LOU RETELLE DIRECTOR 0.50
Director
$0 $0 $0
BARRY MALONEY DIRECTOR 0.50
Director
$0 $0 $0
RICHARD J LESSARD PRESIDENT 1.00
Officer Director
$0 $0 $0
GREG WEINER DIRECTOR 0.50
Director
$0 $0 $0
DAVID FITHIAN DIRECTOR 0.50
Director
$0 $0 $0
WINSTON SOBOYEJO DIRECTOR 0.50
Director
$0 $0 $0
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 $206,714 $209,442 $155,921 $-2,728
2022 $176,950 $173,577 $158,649 $3,373
2021 $178,202 $168,089 $155,276 $10,113
2020 $210,443 $213,518 $145,163 $-3,075
2019 $213,706 $209,513 $148,238 $4,193
2018 $218,109 $214,158 $144,045 $3,951
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