Elevated Thought INC: Nonprofit Profile, Financials & Form 990 (EIN 27-3519031)

Marquis Victor’s $135K as Executive Director is at the 56th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Marquis Victor	$135,000	$125,000	$104,615	—	$107,746
Alex Brien	$109,000	—	—	—	—
Marquiz Victor	—	—	—	$105,750	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers youth through art, beautification projects, and public outreach.

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3 programs · $993K · in their own filed words · FY2024

01

To provide artistic and financial opportunities for merrimack valley youth to explore and expand creative skills

$474Kprogram expense

02

Youth art empowerment and outreach

$325Kprogram expense

03

Public art projects to beautify community and private properties and areas.

$195Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2024

The Jaket FoundationFY2024$700K

Community Foundation of Western MassachusettsFY2024$515K

Fidelity Investments Charitable Gift FundFY2024$275K

United Way of Massachusetts Bay INCFY2024$100K

The New Commonwealth Racial Equity and Social Justice Fund INCFY2024$88K

Van Otterloo Family FoundationFY2024$80K

Essex County Community Fdn INCFY2024$65K

Boston Foundation INCFY2024$50K

Total grants receivedfrom 20 funders$2.1M

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By the numbers

The FY2024 990, line by line.

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1The main four

Money inPt VIII

$2.3M

Ln 12

Gifts and grantsLn 1h$2.1M

Fees for servicesLn 2g$156K

Money outPt IX

$2.6M

Ln 25

Programscol B$993K

Managementcol C$948K

Fundraisingcol D$625K

Owns and owesPt X

$1.0M

net assets · Ln 32

Cash and savingsLn 1–2$852K

Total assetsLn 16$5.0M

LiabilitiesLn 26$4.0M

PeoplePt VI, VII

9

listed · VII A

PaidVII A2

Voting boardVI 1a7

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.1M

Fees for servicesLn 2g$156K

Total revenueLn 12$2.3M

Assets in detailPt X, end of year

CashLn 1$852K

Cash and savings togetherLn 1–2$852K

Land, buildings, equipmentLn 10c$1.1M

Other assetsLn 15$2.9M

Total assetsLn 16$5.0M

LiabilitiesLn 26$4.0M

Net assetsLn 32$1.0M

OperationsPt I, VI

EmployeesI 574

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$1.1M	$852K
Land, buildings, equipmentLn 10c	$891K	$1.1M
Total assetsLn 16	$5.2M	$5.0M
LiabilitiesLn 26	$3.8M	$4.0M
Net assetsLn 32	$1.4M	$1.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$135K		$135K
Other salaries and wagesLn 7	$1.3M	$545K	$277K	$430K
Other employee benefitsLn 9	$73K	$10K	$58K	$5K
Payroll taxesLn 10	$127K	$45K	$45K	$38K
Accounting feesLn 11c	$42K	$21K	$10K	$11K
Other fees for servicesLn 11g	$199K	$98K	$46K	$55K
Advertising and promotionLn 12	$18K		$1K	$17K
Office expensesLn 13	$28K	$9K	$15K	$4K
OccupancyLn 16	$168K	$83K	$42K	$43K
TravelLn 17	$22K	$17K	$5K	$3
Conferences, conventions and meetingsLn 19	$2K		$2K
InterestLn 20	$172K		$172K
Depreciation, depletion and amortizationLn 22	$50K		$50K
InsuranceLn 23	$10K	$5K	$2K	$3K
Other expenses (24a–d)Ln 24	$183K	$129K	$39K	$14K
All other expensesLn 24e	$84K	$32K	$48K	$5K
Total functional expensesLn 25	$2.6M	$993K	$948K	$625K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$2.3M	$2.6M	−$310K	$1.0M	990 PDF
FY2023	$1.4M	$2.3M	−$935K	$1.4M	990 PDF
FY2022	$3.2M	$1.5M	$1.7M	$2.3M	990 PDF
FY2021	$1.0M	$740K	$273K	$552K	990 PDF
FY2020	$617K	$325K	$291K	$333K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $2,256,495 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,251,671$2,100,551

I-9 Program service revenuePrior year $126,536$155,944

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $1,378,207$2,256,495

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,432,398$1,586,757

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $880,687$979,469

I-18 Total expensesPrior year $2,313,085$2,566,226

I-19 Revenue less expensesPrior year −$934,878−$309,731

Part VI · Governance 7 of 7 board members independent, 2 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members7

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $2,256,495 across 4 lines filed

Lines not itemized here account for $25,723 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$2,100,551

VIII-1h Total contributions, gifts and grants$2,100,551

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $130,221$130,221

VIII-12 Total revenueRelated to mission $155,944 · Unrelated business $0 · Excluded from tax $0$2,256,495

Part IX · Statement of functional expenses $2,566,226 across 16 lines filed

IX-5 Pay of current officers, directors and key staffManagement $135,000$135,000

IX-7 Other salaries and wagesPrograms $544,727 · Management $276,744 · Fundraising $430,300$1,251,771

IX-9 Other employee benefitsPrograms $9,763 · Management $58,024 · Fundraising $5,062$72,849

IX-10 Payroll taxesPrograms $44,683 · Management $44,616 · Fundraising $37,838$127,137

IX-11c Accounting feesPrograms $21,120 · Management $10,040 · Fundraising $10,951$42,111

IX-11g Other fees for servicesPrograms $97,704 · Management $45,694 · Fundraising $55,471$198,869

IX-12 Advertising and promotionManagement $1,381 · Fundraising $16,815$18,196

IX-13 Office expensesPrograms $9,298 · Management $15,038 · Fundraising $4,030$28,366

IX-16 OccupancyPrograms $82,910 · Management $42,288 · Fundraising $42,991$168,189

IX-17 TravelPrograms $17,143 · Management $4,634 · Fundraising $3$21,780

IX-19 Conferences, conventions and meetingsManagement $2,445$2,445

IX-20 InterestManagement $172,438$172,438

IX-22 Depreciation, depletion and amortizationManagement $49,996$49,996

IX-23 InsurancePrograms $5,369 · Management $2,049 · Fundraising $2,784$10,202

IX-24 Other expenses (24a–d)Programs $129,024 · Management $39,380 · Fundraising $14,221$182,625

IX-24e All other expensesPrograms $31,636 · Management $47,950 · Fundraising $4,666$84,252

IX-25 Total functional expensesPrograms $993,377 · Management $947,717 · Fundraising $625,132$2,566,226

Part X · Balance sheet $5,022,746 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $1,108,895$852,398

X-4 Accounts receivableStart of year $51,000$58,640

X-9 Prepaid expenses and deferred chargesStart of year $35,730$37,566

X-10c Land, buildings and equipment, netStart of year $890,734$1,129,632

X-15 Other assetsStart of year $3,127,040$2,944,510

X-16 Total assetsStart of year $5,213,399$5,022,746

X-17 Accounts payable and accrued expensesStart of year $70,851$142,056

X-26 Total liabilitiesStart of year $3,827,914$3,996,407

X-27 Net assets without donor restrictionsStart of year $1,385,485$1,026,339

X-32 Total net assets or fund balancesStart of year $1,385,485$1,026,339

X-33 Total liabilities and net assetsStart of year $5,213,399$5,022,746

Part XI · Reconciliation of net assets $1,026,339 net assets at year end

XI-1 Total revenue$2,256,495

XI-2 Total expenses$2,566,226

XI-3 Revenue less expenses−$309,731

XI-4 Net assets at start of year$1,385,485

XI-8 Prior period adjustments−$49,415

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,026,339

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Elevated Thought INC

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