Nonprofit · EIN 04-3265642
WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC
Tax-exempt · WORCESTER, MA 01608
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,707,001 | $1,144,205 | $4,562,796 | $7,973,096 | $1,268,964 | $6,704,132 |
| December 31, 2023 | 990 | $2,032,195 | $1,129,250 | $902,945 | $2,940,421 | $832,185 | $2,108,236 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,782,804
- of which government grants
- $3,091,486
- Program service revenue
- $595,194
- Investment income
- $20,524
- Net income from sales of inventory
- $304,711
- Other revenue
- $308,479
Expenses
- Grants and similar amounts paid
- $9,500
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $48,104
- Occupancy
- $160,288
- Travel
- $98,290
- Depreciation
- $47,623
- Program services (functional)
- $1,096,134
- Management and general (functional)
- $48,071
Balance sheet and other
- Total assets, start of year
- $2,940,421
- Total assets, end of year
- $7,973,096
- Total liabilities, end of year
- $1,268,964
- Net assets, end of year
- $6,704,132
- Land, buildings and equipment
- $4,037,476
- Net assets without donor restrictions
- $452,886
- Net assets with donor restrictions
- $6,251,246
- Gross receipts
- $6,870,188
- Employees
- 0
- Volunteers
- 16
- Year formed
- 1995
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TIMOTHY P MURRAY | PRESIDENT Trustee or director, Officer | 4 | $0 | $319,939 | $1,901 |
| KAREN PELLETIER | EXECUTIVE VICE PRESIDENT Highest-paid employee | 0 | $0 | $161,550 | $13,873 |
| LINDA SALEM-PERVIER | VP MEMBERSHIP DEVELOPMENT & FINANCE Highest-paid employee | 0 | $0 | $104,672 | $2,479 |
| DEMITRIOS M MOSCHOS | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KATHERINE BAGDIS | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ERIC TORKORNOO | CLERK Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SATYA B MITRA | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KOLA AKINDELE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CRAIG L BLAIS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ERIC A BUSENBURG | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CHRISTINE CASSIDY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT D COX JR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DIANE M GIAMPA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CAROLYN JACKSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JAMIE SALOIS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL CRAWFORD | DIRECTOR Trustee or director | 1 | $0 |
| ERIC GOODWINE | DIRECTOR Trustee or director | 1 | $0 |
| SHEILA KING-GOODWIN | DIRECTOR Trustee or director | 1 | $0 |
| JACKSON RESTREPO | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TIMOTHY P MURRAY | PRESIDENT Trustee or director, Officer | 4 | $0 | $328,598 | $1,901 |
| KAREN PELLETIER | VICE PRESIDENT Trustee or director, Officer | 4 | $0 | $149,108 | $13,398 |
| LINDA SALEM PERVIER | HIGHLY COMPENSATED EMPLOYEE Highest-paid employee | 4 | $0 | $101,057 | $10,843 |
| DEMITRIOS M MOSCHOS | CHAIR/DIRECTOR Trustee or director, Officer | 0 | $0 | $0 | $0 |
| SATYA MITRA | TREASURER/DIRECTOR Trustee or director, Officer | 0 | $0 | $0 | $0 |
| ERIC TORKORNOO | CLERK/DIRECTOR Trustee or director, Officer | 0 | $0 | $0 | $0 |
| KATHERINE BAGDIS | VICE CHAIR Trustee or director, Officer | 0 | $0 | $0 | $0 |
| CHRISTINE CASSIDY | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| JAMIE SALOIS | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| CRAIG BLAIS | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| KOLA AKINDELE | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| ROBERT D COX JR | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| ERIC A BUSENBURG | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| DIANE M GIAMPA | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| CAROLYN JACKSON | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| SHEILA KING-GOODWIN | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| MICHAEL CRAWFORD | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| JACKSON RESTREPO | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
| ERIC GOODWINE | DIRECTOR Trustee or director | 0 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 311 MAIN ST STE 200, WORCESTER, MA 01608-1543
- In care of
- % TIMOTHY P MURRAY PRES
- Principal officer (990 for 2024)
- TIMOTHY P MURRAY, 311 MAIN STREET 200, WORCESTER, MA 01608
- Signed the 990
- TIMOTHY P MURRAY, PRESIDENT
- Phone
- (508) 753-2924
- Return prepared by
- AAFCPAS INC
Mission
SUPPORT THE CHARITABLE PURPOSES OF THE WORCESTER REGIONAL CHAMBER OF COMMERCE (THE CHAMBER) BY: 1) DEVELOPING AND DELIVERING RELEVANT PROGRAMS AND SERVICES TO THE CHAMBER, ITS AFFILIATES, LOCAL BUSINESS COMMUNITY AND GENERAL PUBLIC; AND 2) LESSENING THE BURDENS OF GOVERNMENT BY COMBATTING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY SUPPORTING DISTRESSED AREAS WITHIN THE SERVICE AREAS OF THE CHAMBER.
Program accomplishments
- WORCESTER REGIONAL STRATEGIC OPPORTUNITIES FOUNDATION (THE FOUNDATION) PROVIDES EDUCATIONAL PROGRAMS TO THE MEMBERSHIP OF THE CHAMBER AND THE LOCAL BUSINESS COMMUNITY.Expenses $84,440 · grants $5,000
- THE FOUNDATION PROVIDES ADMINISTRATIVE, FINANCIAL AND PERSONNEL SERVICES TO ORGANIZATIONS WHOSE PURPOSES ARE CONSISTENT WITH THE FOUNDATION'S UNDER FISCAL SPONSORSHIP AGREEMENTS.Expenses $1,011,694 · grants $4,500 · revenue $903,673
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-3265642
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A99)
- Assets (IRS master file)
- $7,973,096
- Income (IRS master file)
- $6,870,188
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,707,001 | $1,144,205 | $7,973,096 | XML |
| 990 | December 2023 | $2,032,195 | $1,129,250 | $2,940,421 | XML |
| 990 | December 2022 | $1,488,064 | $1,029,910 | $1,425,378 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-3265642).
Questions about WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC
- What is the EIN of WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC?
- The employer identification number (EIN) of WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC is 04-3265642.
- Is WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names TIMOTHY P MURRAY.
- Who are the officers and directors of WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 19 people; 0 received compensation from the organization.
- How much revenue does WORCESTER AREA BUSINESS EDUCATION FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,707,001, expenses of $1,144,205 and total assets of $7,973,096 at year end.
Other nonprofits in WORCESTER
- WORCESTER ART MUSEUM EIN 04-1988530 · last filed 990 for 2025
- WORCESTER CENTER FOR PERFORMING ARTS INC EIN 05-0521735 · last filed 990 for 2025
- WORCESTER NATURAL HISTORY SOCIETY EIN 04-2105868 · last filed 990 for 2024
- WORCESTER COUNTY MECHANICS ASSOCIATION EIN 04-1988955 · last filed 990 for 2025
- MUSIC WORCESTER INC EIN 04-2171207 · last filed 990 for 2025
- WORCESTER HISTORICAL MUSEUM EIN 04-2105858 · last filed 990 for 2025
- WORCESTER CENTER FOR CRAFTS INC EIN 04-2105859 · last filed 990 for 2025
- JOY OF MUSIC PROGRAM INC EIN 04-3055099 · last filed 990 for 2025
All nonprofits in WORCESTER · Massachusetts · Arts, culture and humanities