2025-11-13T13:57:22-06:00 2024-12-31 991856619 GRANT THORNTON ADVISORS LLC 75 STATE STREET BOSTON MA 02109 990 2024-01-01 041045830 ASSOCIATED INDUSTRIES OF MASSACHUSETTS INC ASSO 6172621180 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRATION 6172621180 2025-11-13 1 0 ERIN COUTURE P01390592 2125990100 2024 2025-03-06 01:10:19Z BROOKE M THOMSON 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 6239067 0 X WWW.AIMNET.ORG X 1915 MA AIM'S MISSION IS TO PROMOTE THE WELL-BEING OF ITS MEMBERS AND THEIR EMPLOYEES... (SEE SCHEDULE O).AN INCLUSIVE ECONOMIC ENVIRONMENT, AND THE PROSPERITY OF THE COMMONWEALTH OF MASSACHUSETTS. 62 62 54 62 46780 43680 100000 0 4844270 4877884 -144969 94654 1291156 1266529 6090457 6239067 0 0 0 0 4810855 4371925 0 0 0 1148554 1096281 5959409 5468206 131048 770861 12655886 16637279 3893219 6706782 8762667 9930497 X 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. 0 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 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. 0 0 0 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 23 0 1 54 1 1 1 0 0 0 0 0 0 0 X 62 62 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SARALEE G SESNOVICH 6174888368 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 BROOKE M THOMSON NON-VOTING PRESIDENT 29.50 5.50 X X 484819 0 14229 PATRICIA BEGROWICZ CHAIR (THRU 05/24); DIRECTOR 1.00 0.00 X 0 0 0 GREGORY BUSCONE CHAIR (AS OF 05/24) 1.00 0.00 X X 0 0 0 ANNEMARIE ABDO DIRECTOR 1.00 0.00 X 0 0 0 JOE BAHENA DIRECTOR 1.00 0.00 X 0 0 0 DONALD BALDINI ESQ DIRECTOR 1.00 0.00 X 0 0 0 PHYLLIS BARAJAS DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM C BLANKER DIRECTOR 1.00 0.00 X 0 0 0 ANNE BROHOLM DIRECTOR 1.00 0.00 X 0 0 0 DAVID BUGBEE DIRECTOR 1.00 0.00 X 0 0 0 BRIAN BURKE DIRECTOR 1.00 0.00 X 0 0 0 SAMUEL CABOT III DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL T CALIJOUW DIRECTOR 1.00 0.00 X 0 0 0 CAROL CAMPBELL DIRECTOR 1.00 0.00 X 0 0 0 TRICIA CANAVAN DIRECTOR 1.00 0.00 X 0 0 0 KRISTIN E CARLSON DIRECTOR 1.00 0.00 X 0 0 0 ADAM CHASE DIRECTOR (THRU 05/2024) 1.00 0.00 X 0 0 0 PETER R CHASE DIRECTOR 1.00 0.00 X 0 0 0 SCOTT CHATLIN DIRECTOR 1.00 0.00 X 0 0 0 JEFF CROWLEY DIRECTOR (THRU 05/2024) 1.00 0.00 X 0 0 0 JACK DERBY DIRECTOR 1.00 0.00 X 0 0 0 JOHN DOUCETTE DIRECTOR (THRU 10/2024) 1.00 0.00 X 0 0 0 JANELL DUBSKY DIRECTOR 1.00 0.00 X 0 0 0 HERBY DUVERNE DIRECTOR 1.00 0.00 X 0 0 0 GARY EVEE DIRECTOR 1.00 0.00 X 0 0 0 CHRISTINA FISHER DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM F GRANT DIRECTOR 1.00 0.00 X 0 0 0 LESLIE E GREIS DIRECTOR 1.00 0.00 X 0 0 0 CHRISTA HAGEARTY DIRECTOR 1.00 0.00 X 0 0 0 JOANNE K HILFERTY DIRECTOR 1.00 0.00 X 0 0 0 CAROL HOLAHAN DIRECTOR 1.00 0.00 X 0 0 0 DOMINICK IANNO DIRECTOR 1.00 0.00 X 0 0 0 MARIE JOHNSON TREASURER 1.00 0.00 X X 0 0 0 TED L KANE DIRECTOR 1.00 0.00 X 0 0 0 DANIEL C KENARY DIRECTOR 1.00 0.00 X 0 0 0 PIA KUMAR DIRECTOR 1.00 0.00 X 0 0 0 DONNA LATSON GITTENS DIRECTOR/CLERK 1.00 0.00 X X 0 0 0 MARIANNE LANCASTER DIRECTOR 1.00 0.00 X 0 0 0 JESS LEE DIRECTOR 1.00 0.00 X 0 0 0 JOHN M LYNCH ESQ DIRECTOR 1.00 0.00 X 0 0 0 JAMES MCCARTHY DIRECTOR 1.00 0.00 X 0 0 0 KRINA PATEL DIRECTOR 1.00 0.00 X 0 0 0 CATHY ROCHELEAU DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY SAMUELS DIRECTOR 1.00 0.00 X 0 0 0 ELAINE SHANNON DIRECTOR 1.00 0.00 X 0 0 0 JESSE STANESA DIRECTOR 1.00 0.00 X 0 0 0 JOHN C STOWE DIRECTOR 1.00 0.00 X 0 0 0 MARCELO SUAREZ-OROZCO DIRECTOR 1.00 0.00 X 0 0 0 MEGHAN SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 LYNN TOKARCZYK DIRECTOR 1.00 0.00 X 0 0 0 NATHAN TUAN PHAM DIRECTOR (THRU 05/2024) 1.00 0.00 X 0 0 0 DANIEL WALSH DIRECTOR 1.00 0.00 X 0 0 0 LUIS YEPEZ DIRECTOR 1.00 0.00 X 0 0 0 TIMOTHY J DELGIUDICE DIRECTOR (AS OF 01/2024) 1.00 0.00 X 0 0 0 MAURICIO FALANTI DIRECTOR (AS OF 01/2024) 1.00 0.00 X 0 0 0 SHERYL MCQUADE DIRECTOR (AS OF 01/2024) 1.00 0.00 X 0 0 0 NICOLA MEDALOVA DIRECTOR (AS OF 01/2024) 1.00 0.00 X 0 0 0 NICOLE M VERDI ESQ DIRECTOR (THRU 05/2024) 1.00 0.00 X 0 0 0 SASKIA EPSTEIN DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 KEITH FAIREY DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 STACY GILMOUR DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 BECCA GOULD DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 MICHAEL KENEALLY DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 MICHAEL KNAPIK DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 STEPHANIE LEE DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 KRISTEN LEWIS DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 LIZ SCHWAB DIRECTOR (AS OF 05/2024) 1.00 0.00 X 0 0 0 CHRISTOPHER KEALEY EXEC VP & COO 29.00 6.00 X 363310 0 40089 SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRAT 29.00 6.00 X 224283 0 17840 CHRISTOPHER P GEEHERN EXEC VP-PUBLIC AFFAIRS & COMM 35.00 0.00 X 236827 0 22196 ROBERT S PAINE EXEC VP-MEMBERSHIP, SALES 35.00 0.00 X 251512 0 37953 KYLE J PARDO EXEC VP, AIMHR SOLUTIONS 3.00 32.00 X 248874 0 12755 STEPHANIE L SWANSON EXEC VP-GOVERNMENT AFFAIRS 35.00 0.00 X 278642 0 6008 KAREN WALLACE EXEC VP, MARKETING 35.00 0.00 X 218578 0 17624 THERESA A COOK SR VP - EMPLOYER SERVICE 10.50 24.50 X 167757 0 7372 CHRIS F DEMATOS VP, INFORMATION TECHNOLOGY 33.00 2.00 X 186029 0 34350 SAMUEL W LARSON VP, GOV AFFAIRS & LEGAL COUNCIL 35.00 0.00 X 159442 0 16902 PATTY R STEPHENS ACCOUNTING MANGER 30.00 5.00 X 129152 0 13216 2949225 0 240534 16 0 1 0 0 MEMBERSHIP DUES 541900 3985604 3985604 SPONSORSHIP INCOME 541900 831075 831075 EDUCATIONAL PROGRAMS 541900 61205 61205 4877884 94654 94654 1207749 1207749 IMPUTED INTEREST 541900 46780 46780 MISCELLANEOUS INCOME 900099 12000 12000 58780 6239067 4877884 46780 1314403 2253854 1448060 88133 334366 247512 52819 63849 112643 96887 253873 116893 47765 33391 104931 36322 PURCHASED SERVICES 102328 MEMBERSHIP AND CONTRIB. 74580 5468206 929861 1695501 475051 500092 104128 148327 76303 92569 599539 297908 172945 301631 5863120 6417699 2861904 2861904 2172574 4619556 12655886 16637279 890632 878974 2139026 2217294 863561 3610514 3893219 6706782 X 8662667 9930497 100000 0 8762667 9930497 12655886 16637279 X 770861 479152 -82183 X 0 1 X 1 0 0 0 1 3985604 197933 197933 528093 -330160 44424 12096 32328 444007 282109 161898 111108 3703 107405 301631 INVESTMENT IN SUBSIDIARIES 2861904 F 2861904 INTERCOMPANY RECEIVABLES 1684595 RELATED-PARTY INVESTMENT 200000 OPERATING RIGHT-OF-USE ASSETS 2734960 4619555 DEFERRED COMPENSATION 766143 OPERATING LEASE LIABILITY 2844371 3610514 X 6636036 479152 -35403 443749 6192287 46780 46780 6239067 5468206 0 5468206 0 5468206 PART X, LINE 2: ASC 740 THE ASSOCIATION IS A NOT-FOR-PROFIT ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE CODE, AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE INCOME TAX CONSEQUENCES, IF ANY, FROM THESE ENTITIES ARE REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ASSOCIATION IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ASSOCIATION BELIEVES IT IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY THE TAX AUTHORITIES FOR FISCAL YEARS PRIOR TO AND INCLUDING 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR INCOME TAXES -20,403. CONTRIBUTIONS RELEASED TO OPERATIONS -15,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: IMPUTED INTEREST FROM INTERCOMPANY LOAN 46,780. X X X X 0 0 0 BROOKE M THOMSON NON-VOTING PRESIDENT 413269 0 65000 0 6550 0 9997 0 4232 0 499048 0 0 0 CHRISTOPHER KEALEY EXEC VP & COO 301256 0 55000 0 7054 0 9527 0 30562 0 403399 0 0 0 ROBERT S PAINE EXEC VP-MEMBERSHIP, SALES 217858 0 23000 0 10654 0 7610 0 30343 0 289465 0 0 0 STEPHANIE L SWANSON EXEC VP-GOVERNMENT AFFAIRS 227200 0 45000 0 6442 0 6008 0 0 0 284650 0 0 0 KYLE J PARDO EXEC VP, AIMHR SOLUTIONS 212180 0 30000 0 6694 0 8758 0 3997 0 261629 0 0 0 CHRISTOPHER P GEEHERN EXEC VP-PUBLIC AFFAIRS & COMM 201261 0 27000 0 8566 0 1063 0 21133 0 259023 0 0 0 SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRAT 195997 0 26000 0 2286 0 6190 0 11650 0 242123 0 0 0 KAREN WALLACE EXEC VP, MARKETING 191338 0 25000 0 2240 0 6310 0 11314 0 236202 0 0 0 CHRIS F DEMATOS VP, INFORMATION TECHNOLOGY 170795 0 15000 0 234 0 3458 0 30892 0 220379 0 0 0 SAMUEL W LARSON VP, GOV AFFAIRS & LEGAL COUNCIL 142351 0 17000 0 91 0 4719 0 12183 0 176344 0 0 0 THERESA A COOK SR VP - EMPLOYER SERVICE 153967 0 13500 0 290 0 5008 0 2364 0 175129 0 0 0 FORM 990, PART VI, LINE 1B DELEGATION OF AUTHORITY THE EXECUTIVE COMMITTEE IS THE ONLY BOARD COMMITTEE WITH BOARD-DELEGATED AUTHORITY. THE EXECUTIVE COMMITTEE HAS ALL THE POWERS AND AUTHORITY OF THE BOARD IN THE INTERVALS BETWEEN BOARD MEETINGS, EXCEPT FOR SPECIFIC POWERS RESERVED SOLELY TO THE BOARD (E.G. ELECTING OR REMOVING DIRECTORS AND OFFICERS) OR TO EMPLOYER MEMBERS. THE EXECUTIVE COMMITTEE REVIEWS AND OVERSEES THE DEVELOPMENT AND IMPLEMENTATION OF THE ORGANIZATION'S PLANS AND BUDGETS AS WELL AS IMPLEMENTATION OF POLICIES AND DECISIONS OF THE BOARD NOT ASSIGNED TO OTHER STANDING COMMITTEES. THE EXECUTIVE COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD TO TAKE CERTAIN ACTIONS INCLUDING APPROVAL OF THE ANNUAL BUDGET, THE PUBLIC POLICY AGENDA, CHANGES TO DUES SCHEDULES. FORM 990, PART VI, SECTION A, LINE 2 FAMILY AND BUSINESS RELATIONSHIPS 1) ADAM CHASE AND PETER CHASE - FAMILY RELATIONSHIP 2) WILLIAM BLANKER, PETER CHASE, AND LESLIE E. GREIS - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS ASSOCIATED INDUSTRIES OF MASSACHUSETTS, INC. IS A MEMBERSHIP ORGANIZATION COMPRISED OF MASSACHUSETTS BUSINESSES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OR STOCKHOLDERS WHO MAY ELECT THE ORGANIZATION'S NOMINATING COMMITTEE OF THE BOARD MAKES RECOMMENDATIONS FOR NEW BOARD MEMBERS TO THE FULL BOARD, CONSISTENT WITH THE ORGANIZATION'S GOVERNING DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS FORM 990 WAS PREPARED BY GRANT THORNTON ADVISORS LLC (GT), THE ORGANIZATION'S TAX ADVISORS, FROM INFORMATION PROVIDED BY MANAGEMENT. GT AND MANAGEMENT MET WITH THE ORGANIZATION'S AUDIT COMMITTEE REVIEWING THE FILING IN DETAIL. SUBSEQUENT TO REVIEW AND UPON FINALIZATION, THE COMPLETE FORM 990 (WITH REQUIRED SCHEDULES) WAS PROVIDED ELECTRONICALLY TO EACH MEMBER OF THE GOVERNING BODY PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTERECT POLICY MONITORING & ENFORCEMENT THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY. ANNUALLY, EACH BOARD MEMBER AND OFFICER OF AIM AND OF ASSOCIATED ORGANIZATIONS AND EVERY AIM EMPLOYEE MUST ACKNOWLEDGE READING AND UNDERSTANDING THE CONFLICT POLICY AND MUST COMPLETE AND RETURN AN ANNUAL CONFLICT DISCLOSURE QUESTIONNAIRE. IN ADDITION, ANY NEW OR POTENTIAL CONFLICT OF INTEREST OF ANY BOARD MEMBER, OFFICER, OR EMPLOYEE MUST BE DISCLOSED IMMEDIATELY TO THE PRESIDENT AND CEO WHO IN TURN MUST DISCLOSE TO THE CHAIRMAN. IN ADDITION, ANY MEMBER OF THE BOARD HAVING AN EXISTING OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO ANY MATTER WHICH IS THE SUBJECT OF ACTION BY THE BOARD OR ITS COMMITTEES SHALL DISCLOSE SUCH CONFLICT AND THE MEMBER WILL NOT BE COUNTED IN DETERMINING THE QUORUM AND SHALL NOT VOTE ON THE MATTER. ANY EMPLOYEE OF AIM OR OF ASSOCIATED ORGANIZATIONS WITH A CONFLICT OF INTEREST SHALL ABSTAIN AND NOT PARTICIPATE IN DISCUSSIONS CONCERNING THE ACTIONS OF THE ORGANIZATION IN REGARD TO THE MATTER WHICH IS THE SUBJECT OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS PERFORMANCE AND COMPENSATION OF THE ORGANIZATION'S PRESIDENT AND CEO AND MAKES COMPENSATION AND BONUS RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE OF THE BOARD. ALL RECOMMENDATIONS ARE DOCUMENTED BY THE COMPENSATION COMMITTEE AND SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THE EXECUTIVE COMMITTEE VOTES ON THE RECOMMENDATIONS OF THE COMPENSATION COMMITTEE AND DOCUMENTS ITS DECISION. ON A REGULAR BASIS - MOST RECENTLY IN 2024 - THE COMPENSATION COMMITTEE EMPLOYED THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO CONDUCT A COMPETITIVE MARKET REVIEW OF THE CEO'S COMPENSATION USING GENERALLY ACCEPTED METHODS AND PRACTICES. THE ORGANIZATION EMPLOYED THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT IN 2024 TO CONDUCT AN INDEPENDENT COMPENSATION STUDY FOR ALL POSITIONS INCLUDING OTHER OFFICERS AND KEY EMPLOYEES. THE STUDY INCLUDED COMPARABLE DATA AND CONTEMPORANEOUS SUBSTANTIATION. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CONTRIBUTIONS RELEASED TO OPERATIONS -15,000. PROVISION FOR INCOME TAXES -20,403. IMPUTED INTEREST FROM INTERCOMPANY LOAN -46,780. ASSOCIATED INDUSTRIES OF MA FDN INC 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 223127535 EDUCATION MA 501(C)(3) LINE 7 AIM 1 AIM SERVICE CORPORATION 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 042950545 SERVICE/PUBL MA AIM C 2843812 1603334 1.00000 1 1 0 0 1 1 0 0 0 0 1 0 0 0 1 1 0 1 0 0 AIM SERVICE CORPORATION A 55211 FAIR ALLOCATION AIM FOUNDATION INC A 431 FAIR ALLOCATION AIM SERVICE CORPORATION A 46780 AFR AIM FOUNDATION INC A 29867 AFR AIM SERVICE CORPORATION D 980468 FAIR VALUE AIM FOUNDATION INC D 704128 FAIR VALUE AIM SERVICE CORPORATION N 55211 FAIR ALLOCATION AIM FOUNDATION INC N 431 FAIR ALLOCATION AIM SERVICE CORPORATION O 2220630 FAIR ALLOCATION AIM FOUNDATION INC O 21549 FAIR ALLOCATION AIM SERVICE CORPORATION Q 2620000 CASH PAYMENT AIM FOUNDATION INC Q 94288 CASH PAYMENT