2025-10-08T08:51:30-05:00 2024-12-31 203985546 JOHNSON O'CONNOR FERON & CARUCCI LLP 101 EDGEWATER DRIVE SUITE 210 WAKEFIELD MA 01880 990 2024-01-01 041590310 MASSACHUSETTS TAXPAYERS FOUNDATION INC MASS 6177201000 333 WASHINGTON STREET 853 BOSTON MA 02108 DOUGLAS HOWGATE PRESIDENT 6177201000 2025-09-29 1 1 JOSEPH GISO CPA P00030126 7819143400 2025-09-29 2024 2025-03-06 01:10:19Z DOUGLAS HOWGATE 333 WASHINGTON STREET 853 BOSTON MA 02108 2439013 0 X WWW.MASSTAXPAYERS.ORG X 1932 MA PROVIDE KEY DECISION MAKERS WITH UNBIASED RESEARCH & CONSTRUCTIVE SOLUTIONS (SEE PART III) 111 110 8 97 0 0 1513897 1788938 6747 44900 88644 125768 3720 0 1613008 1959606 0 0 0 0 1081828 1189351 0 0 244290 345385 473227 1427213 1662578 185795 297028 3253891 3664066 47277 52710 3206614 3611356 MASSACHUSETTS TAXPAYERS FOUNDATION PROVIDES PUBLIC & PRIVATE SECTOR DECISION MAKERS WITH ACCURATE, TIMELY, UNBIASED RESEARCH & CONSTRUCTIVE SOLUTIONS THAT DRIVE PUBLIC POLICY IN ORDER TO STRENGTHEN THE STATE'S FINANCES & POSITION THE COMMONWEALTH FOR LONG-TERM GROWTH. 0 0 1035881 ANALYSIS OF THE STATE BUDGET:PERFORMED RESEARCH AND ANALYSIS, RELEASED PUBLICATIONS AND WORKED FOR REFORM ON A WIDE RANGE OF ISSUES AFFECTING THE COMMONWEALTH OF MASSACHUSETTS INCLUDING HEALTH CARE, BUSINESS COSTS AND TRANSPORTATION FUNDING TO TAX COMPETITIVENESS, CAPITAL INVESTMENTS AND STATE AND LOCAL FINANCES. 44900 ANNUAL TAX CONFERENCE WITH TAX PRACTITIONERS AND GOVERNMENT OFFICIALS TO DISCUSS MASSACHUSETTS STATE AND LOCAL TAXES. 1035881 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 1 8 1 0 0 0 0 0 0 0 0 0 0 0 0 X 111 110 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X DOUGLAS HOWGATE 6177201000 333 WASHINGTON STREET SUITE 853 BOSTON MA 02108 DOUGLAS R HOWGATE PRESIDENT & SECRETARY 50.00 X X 346036 0 22902 ANDREW BAGLEY VICE PRESIDENT FOR POLICY 50.00 X 192960 0 8577 MEAGHAN CALLAHAN DIRECTOR OF RESEARCH 50.00 X 127011 0 13371 DEBRA CARROLL DIRECTOR OF MEMBERSHIP & B 50.00 X 120251 0 14377 KRISTEN LEWIS CHAIR 1.00 X X 0 0 0 DOMINICK IANNO VICE CHAIR 1.00 X X 0 0 0 MATTHEW D SCHNALL TREASURER 1.00 X X 0 0 0 KOLA AKINDELE TRUSTEE 1.00 X 0 0 0 GRACE ARSENAULT TRUSTEE 1.00 X 0 0 0 TERENCE AVELLA TRUSTEE 1.00 X 0 0 0 DAVID AVERILL TRUSTEE 1.00 X 0 0 0 DONALD BALDINI TRUSTEE 1.00 X 0 0 0 BRENT BARKER TRUSTEE 1.00 X 0 0 0 MICHAEL BERGAN TRUSTEE 1.00 X 0 0 0 TIMOTHY BOMBARD TRUSTEE 1.00 X 0 0 0 BRIGID BOYD TRUSTEE 1.00 X 0 0 0 GIRARD BRISBOIS TRUSTEE 1.00 X 0 0 0 GARY BUA TRUSTEE 1.00 X 0 0 0 BRIAN ELLIOT BURKE TRUSTEE 1.00 X 0 0 0 HELEN BURT TRUSTEE 1.00 X 0 0 0 JOCCOLE BURTON TRUSTEE 1.00 X 0 0 0 PATRICK CAHILL TRUSTEE 1.00 X 0 0 0 MICHAEL CALJOUW TRUSTEE 1.00 X 0 0 0 JOHN CANTALUPO TRUSTEE 1.00 X 0 0 0 CHRISTINE CASSIDY TRUSTEE 1.00 X 0 0 0 PATRICK CERUNDOLO TRUSTEE 1.00 X 0 0 0 KRISTIN CHRISTOPHER TRUSTEE 1.00 X 0 0 0 GEORGE F CRONIN TRUSTEE 1.00 X 0 0 0 TIMOTHY DELGUIDICE TRUSTEE 1.00 X 0 0 0 REBECCA DIAZ TRUSTEE 1.00 X 0 0 0 BRIAN DOMORETSKY TRUSTEE 1.00 X 0 0 0 JOSEPH DRISCOLL ESQ TRUSTEE 1.00 X 0 0 0 GAIL EAGAN ESQ TRUSTEE 1.00 X 0 0 0 JOHN EMRA TRUSTEE 1.00 X 0 0 0 SASKIA EPSTEIN TRUSTEE 1.00 X 0 0 0 JOHN ERWIN TRUSTEE 1.00 X 0 0 0 MICHAEL FERRARI TRUSTEE 1.00 X 0 0 0 CHRISTINA FISHER TRUSTEE 1.00 X 0 0 0 JAMES FITZGERALD TRUSTEE 1.00 X 0 0 0 GEOFFERY GALLO TRUSTEE 1.00 X 0 0 0 MICHAEL GERMANO TRUSTEE 1.00 X 0 0 0 MICHAEL GILLES TRUSTEE 1.00 X 0 0 0 PAMELA GLAZIER TRUSTEE 1.00 X 0 0 0 AIMEE GOLBITZ TRUSTEE 1.00 X 0 0 0 WILLIAM GRANT TRUSTEE 1.00 X 0 0 0 JOSHUA GREENBERG TRUSTEE 1.00 X 0 0 0 BRIAN P GRIP TRUSTEE 1.00 X 0 0 0 PIERCE HALEY TRUSTEE 1.00 X 0 0 0 MORGAN HARRIS TRUSTEE 1.00 X 0 0 0 NANCY HILL TRUSTEE 1.00 X 0 0 0 JENNY HOLADAY TRUSTEE 1.00 X 0 0 0 PATRICK HOLLAND TRUSTEE 1.00 X 0 0 0 PETER HOWE TRUSTEE 1.00 X 0 0 0 THOMAS JACKMIN TRUSTEE 1.00 X 0 0 0 BRENDAN JOYCE TRUSTEE 1.00 X 0 0 0 JAMIE KATZ ESQ TRUSTEE 1.00 X 0 0 0 DENIS KENNEDY TRUSTEE 1.00 X 0 0 0 WILLIAM KENNEDY TRUSTEE 1.00 X 0 0 0 ROBERT KESTER TRUSTEE 1.00 X 0 0 0 MICHAEL KNAPIK TRUSTEE 1.00 X 0 0 0 CAROLINE KUPIEC TRUSTEE 1.00 X 0 0 0 EDWARD H LADD TRUSTEE 1.00 X 0 0 0 JAMES LEARY TRUSTEE 1.00 X 0 0 0 STEPHANIE LEE TRUSTEE 1.00 X 0 0 0 ANDREW LEVINE TRUSTEE 1.00 X 0 0 0 EUSTACIA REIDY MACNAUGHT TRUSTEE 1.00 X 0 0 0 JOHN MAHER TRUSTEE 1.00 X 0 0 0 KEITH MAHONEY TRUSTEE 1.00 X 0 0 0 DAVID MCCREADY TRUSTEE 1.00 X 0 0 0 MICHELLE MCGEE TRUSTEE 1.00 X 0 0 0 DANIELA MICHANIE TRUSTEE 1.00 X 0 0 0 ADAM MOEHRING TRUSTEE 1.00 X 0 0 0 DAVID MORALES TRUSTEE 1.00 X 0 0 0 STEPHEN MOSHA TRUSTEE 1.00 X 0 0 0 CHARLES MURPHY TRUSTEE 1.00 X 0 0 0 LISA MURRAY TRUSTEE 1.00 X 0 0 0 DANIEL NELSON TRUSTEE 1.00 X 0 0 0 DAVID NORMAN TRUSTEE 1.00 X 0 0 0 ANTHONY ODONNELL TRUSTEE 1.00 X 0 0 0 THOMAS O'DONNELL TRUSTEE 1.00 X 0 0 0 STEPHAN OEHLER TRUSTEE 1.00 X 0 0 0 FRANCIS ORLANDO TRUSTEE 1.00 X 0 0 0 POONAM PATIDAR TRUSTEE 1.00 X 0 0 0 LAURA PEABODY TRUSTEE 1.00 X 0 0 0 NATHAN PHAM TRUSTEE 1.00 X 0 0 0 MICHAEL E PORTER TRUSTEE 1.00 X 0 0 0 JENNIFER PRIPLATA TRUSTEE 1.00 X 0 0 0 HENRI RAUSCHENBACH TRUSTEE 1.00 X 0 0 0 MATTHEW REGAN TRUSTEE 1.00 X 0 0 0 BETH RIPORTELLA TRUSTEE 1.00 X 0 0 0 BRENDAN ROCHE TRUSTEE 1.00 X 0 0 0 JULIE RODGERS TRUSTEE 1.00 X 0 0 0 JACOB ROSENFELD TRUSTEE 1.00 X 0 0 0 ROBERT ROSS TRUSTEE 1.00 X 0 0 0 MARK RUGGIERO TRUSTEE 1.00 X 0 0 0 FREDRICK RYAN TRUSTEE 1.00 X 0 0 0 YVES SALOMON-FERNANDEZ TRUSTEE 1.00 X 0 0 0 JAKE SANDERS TRUSTEE 1.00 X 0 0 0 LEANNE SCOTT TRUSTEE 1.00 X 0 0 0 AMIE SHEI TRUSTEE 1.00 X 0 0 0 JIM SMITH TRUSTEE 1.00 X 0 0 0 JESSE STANSEA TRUSTEE 1.00 X 0 0 0 JANE STEINMETZ TRUSTEE 1.00 X 0 0 0 JUSTIN STERRITT TRUSTEE 1.00 X 0 0 0 DAVID SWEENEY TRUSTEE 1.00 X 0 0 0 TIMOTHY SWEENEY TRUSTEE 1.00 X 0 0 0 JAY TATA TRUSTEE 1.00 X 0 0 0 BROOKE THOMPSON TRUSTEE 1.00 X 0 0 0 JULIEANN M THURLOW TRUSTEE 1.00 X 0 0 0 STEVE TRINGALE TRUSTEE 1.00 X 0 0 0 GRANT WARD TRUSTEE 1.00 X 0 0 0 ADAM WEINER TRUSTEE 1.00 X 0 0 0 KERRY WHELAN TRUSTEE 1.00 X 0 0 0 JOSEPH ZELIC TRUSTEE 1.00 X 0 0 0 786258 0 59227 3 0 1 0 0 1055438 84000 649500 1788938 TAX CONFERENCES 541900 44900 44900 44900 65865 65865 539310 479407 59903 59903 59903 1959606 44900 0 125768 538996 378498 64079 96419 496381 347920 59436 89025 40112 28337 4659 7116 45568 32192 5292 8084 68294 48247 7932 12115 86060 86060 20024 20024 114790 6156 108634 68376 52271 6978 9127 22836 15148 4733 2955 33153 26107 2487 4559 53277 41955 3996 7326 934 187 187 560 1094 219 219 656 28106 21375 2493 4238 15346 12085 1151 2110 RESEARCH MATERIALS & SU 29231 25184 4047 1662578 1035881 382407 244290 380175 675595 528110 291718 63333 280000 19910 84000 9489 14105 870861 631683 267284 239178 1757598 1854387 227992 225083 3253891 3664066 36448 44790 10829 7920 47277 52710 X 2595610 2992602 611004 618754 3206614 3611356 3253891 3664066 X 297028 7714 100000 0 X X 0 1 X 1 0 X 1086436 1388734 1520094 1513897 1788938 7298099 1086436 1388734 1520094 1513897 1788938 7298099 643015 6655084 101128 39984 41798 61613 65865 310388 7608487 64772 0.87470 0.87200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17000 17000 1645578 1662578 233129 58282 0 0 232467 232467 233129 698063 1047095 22000 13380 17000 52380 58117 58117 58282 174516 261774 441595 441594 1 322451 93564 228887 106815 96525 10290 239178 CASH SURRENDER VALUE 217163 RIGHT OF USE ASSET - OPERATING LEASE 7920 225083 OPERATING LEASE LIABILITY 7920 7920 1947296 7714 7714 1939582 20024 20024 1959606 1642554 0 1642554 20024 20024 1662578 X X X X X 0 0 0 0 0 0 0 1 0 DOUGLAS R HOWGATE PRESIDENT & SECRETARY 321661 0 24375 0 0 0 13250 0 9652 0 368938 0 0 0 ANDREW BAGLEY VICE PRESIDENT FOR POLICY 192960 0 0 0 0 0 7718 0 859 0 201537 0 0 0 PART I, LINE 7 NON-FIXED AND DISCRETIONARY BONUSES WERE PAID TO THE FOLLOWING DURING CALENDAR YEAR 2023: DOUGLAS R. HOWGATE-PRESIDENT : $24,375 THE BONUS FOR THE PRESIDENT IS RECOMMENDED BY A COMMITTEE COMPOSED OF THE CHAIR, THE VICE CHAIR, AND THE TREASURER AND IS APPROVED BY THE EXECUTIVE COMMITTEE. BONUSES FOR OTHER STAFF ARE APPROVED BY THE PRESIDENT AND COMMUNICATED IN THE AGGREGATE TO A COMMITTEE COMPOSED OF THE CHAIR, THE VICE CHAIR, AND THE TREASURER. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE ON BEHALF OF THE FULL GOVERNING BODY, THE BOARD OF TRUSTEES, BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A SPECIAL COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. THE SPECIAL COMMITTEE SHALL BE COMPOSED ENTIRELY OF NONMEMBERS OF THE GOVERNING BOARD OR COMMITTEE. AFTER EXERCISING DUE DILIGENCE, THE SPECIAL COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE SPECIAL COMMITTEE SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFIRMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. EACH TRUSTEE, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTERESTS POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS MTF IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 DURING THE FIRST QUARTER OF EACH CALENDAR YEAR, A COMMITTEE COMPOSED OF THE CHAIR, THE VICE CHAIR, AND THE TREASURER MEETS TO DETERMINE A RECOMMENDATION FOR COMPENSATION TO BE PAID TO THE FOUNDATION'S PRESIDENT DURING THAT YEAR, INCLUDING ANY BONUS RELATING TO PERFORMANCE IN THE PRIOR YEAR AND ANY ADJUSTMENT TO THE PRESIDENT'S BASE SALARY FOR THE YEAR OF THE DETERMINATION. ALSO, DURING THE FIRST QUARTER OF THE YEAR, THE EXECUTIVE COMMITTEE (EXCLUDING THE PRESIDENT, WHO IS RECUSED FROM THE DISCUSSION) MEETS TO REVIEW THE COMMITTEE'S RECOMMENDATION AND TO MAKE A FINAL DETERMINATION CONCERNING THE PRESIDENT'S COMPENSATION. IN RECOMMENDING AND APPROVING THE PRESIDENT'S COMPENSATION, THOSE BODIES CONSIDER (AMONG OTHER FACTORS) THE COMPENSATION PAID BY SIMILARLY SITUATED ORGANIZATIONS, BOTH TAXABLE AND TAX-EXEMPT, FOR FUNCTIONALLY COMPARABLE POSITIONS. THE COMMITTEES TYPICALLY INCLUDE ONE OR MORE MEMBERS WITH KNOWLEDGE CONCERNING SUCH COMPENSATION LEVELS, AND THEY MAY ALSO RELY ON COMPENSATION DATA FROM PUBLISHED SURVEYS AND OTHER RELIABLE SOURCES. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PAGE 12, PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FORM 990, PAGE 12, PART XI, LINE 8 THE PREVIOUSLY ISSUED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023 HAVE BEEN RESTATED TO CORRECT AN ERROR IN THE ACCOUNTING FOR AN UNCONDITIONAL GRANT THAT WAS AWARDED TOWARD THE END OF THAT YEAR BUT WAS INCORRECTLY RECORDED AS GRANTS AND CONTRIBUTIONS REVENUE IN THE SUBSEQUENT FISCAL YEAR ENDING DECEMBER 31, 2024. THE EFFECT OF THE RESTATEMENT IS AS FOLLOWS: STATEMENT OF FINANCIAL POSITION (AS OF DECEMBER 31, 2023): INCREASE IN CURRENT PORTION OF GRANTS AND CONTRIBUTIONS RECEIVABLE $100,000 INCREASE IN NET ASSETS WITH DONOR RESTRICTIONS $100,000 STATEMENT OF ACTIVITIES (YEAR ENDED DECEMBER 31, 2023): INCREASE IN GRANTS AND CONTRIBUTIONS REVENUE WITH DONOR RESTRICTION $100,000 INCREASE IN CHANGE IN NET ASSETS WITH DONOR RESTRICTION $100,000