Duet INC: FY2021 Nonprofit Profile & Form 990 (EIN 32-0568985)

Michael Larsson’s $185K as President & is at the 61st percentile of top reported officer pay among 2832 $1–10M community development 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 · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Michael Larsson	$184,517	$161,956	$148,320	$137,797	$131,954
Michele Carroll	$161,060	$155,790	$158,360	$142,005	$142,156
Elizabeth Pimentel	$159,734	$136,350	—	—	—
Jahfree Duncan	$153,378	$143,435	$141,910	$114,961	$105,989
Elizabeth Marino	—	—	—	—	$143,795
Elizabeth Pimental	—	—	$141,910	—	—
Mary Leviner	$121,936	$118,391	—	$114,961	—
Robert Hill	—	—	—	$109,421	$111,561

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

Helps college students earn degrees through support and coaching.

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Provided by the organization

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1 program · $3.4M · in their own filed words · FY2020

01

Duet provides enrollment, degree, and career coaching, and support for students enrolled in certain competency based programs at southern new hampshire university. Most students are working adults who have tried college in the past.

$3.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2024

Fidelity Non-Profit Management FoundationFY2024$500K

Boston Foundation INCFY2024$201K

Wellington Management FoundationFY2024$100K

Combined Jewish Philanthropies of Greater Boston INCFY2024$50K

New Hampshire Charitable FoundationFY2024$50K

Educational Credit Management CorporationFY2024$28K

The Goldman Sachs Charitable Gift FundFY2024$10K

Fidelity Investments Charitable Gift FundFY2024$10K

Total grants receivedfrom 8 funders$949K

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Grants paid · 9 grants · $2.0M · 2020–2024

Unitemized GrantFY2024$441,442

Unitemized GrantFY2024$73,081

Unitemized GrantFY2023$352,920

Unitemized GrantFY2023$135,751

Unitemized GrantFY2022$346,590

Unitemized GrantFY2022$108,994

Unitemized GrantFY2021$207,226

Unitemized GrantFY2021$95,728

Unitemized GrantFY2020$237,637

By the numbers

The FY2021 990, line by line.

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1The main four

Money inPt VIII

$2.6M

Ln 12

Gifts and grantsLn 1h$1.3M

Fees for servicesLn 2g$1.3M

Other incomeLn 4–11$38K

Money outPt IX

$4.0M

Ln 25

Programscol B$3.4M

Managementcol C$480K

Fundraisingcol D$102K

Owns and owesPt X

$6.5M

net assets · Ln 32

Cash and savingsLn 1–2$5.3M

Total assetsLn 16$6.8M

LiabilitiesLn 26$301K

PeoplePt VI, VII

9

listed · VII A

PaidVII A5

Voting boardVI 1a5

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.3M

Government grantsLn 1e$486K

Fees for servicesLn 2g$1.3M

Investment incomeLn 3$8K

Other incomeLn 4–11$38K

Total revenueLn 12$2.6M

Assets in detailPt X, end of year

CashLn 1$318K

SavingsLn 2$5.0M

Cash and savings togetherLn 1–2$5.3M

Land, buildings, equipmentLn 10c$141K

Total assetsLn 16$6.8M

LiabilitiesLn 26$301K

Net assetsLn 32$6.5M

OperationsPt I, VI

EmployeesI 549

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$4.8M	$5.3M
Land, buildings, equipmentLn 10c	$196K	$141K
Total assetsLn 16	$8.1M	$6.8M
LiabilitiesLn 26	$212K	$301K
Net assetsLn 32	$7.9M	$6.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$238K	$238K
Pay of current officers, directors and key staffLn 5	$678K	$418K	$190K	$70K
Other salaries and wagesLn 7	$1.7M	$1.7M	$44K	$4K
Other employee benefitsLn 9	$249K	$200K	$41K	$8K
Payroll taxesLn 10	$177K	$151K	$20K	$6K
Legal feesLn 11b	$1K		$1K
Accounting feesLn 11c	$19K		$19K
Other fees for servicesLn 11g	$100K	$99K	$242	$307
Office expensesLn 13	$62K	$17K	$45K	$600
Information technologyLn 14	$230K	$158K	$73K
OccupancyLn 16	$434K	$377K	$44K	$13K
Depreciation, depletion and amortizationLn 22	$54K	$54K
InsuranceLn 23	$13K	$11K	$1K	$602
Other expenses (24a–d)Ln 24	$42K	$40K	$3K
Total functional expensesLn 25	$4.0M	$3.4M	$480K	$102K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$5.7M	$5.1M	$537K	$4.0M	990 PDF
FY2024	$3.2M	$5.0M	−$1.8M	$3.5M	990 PDF
FY2023	$2.7M	$4.5M	−$1.7M	$5.4M	990 PDF
FY2022	$4.9M	$4.3M	$596K	$7.1M	990 PDF
FY2021 Viewing	$2.6M	$4.0M	−$1.4M	$6.5M	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 FY2021 990 (6 parts)

Part I · Summary $2,616,940 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,059,292$1,287,046

I-9 Program service revenuePrior year $1,239,837$1,284,308

I-10 Investment incomePrior year $13,087$8,086

I-11 Other revenue$37,500

I-12 Total revenuePrior year $3,312,216$2,616,940

I-13 Grants and similar amounts paidPrior year $596,286$237,637

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $2,486,783$2,820,012

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $1,097,964$954,705

I-18 Total expensesPrior year $4,181,033$4,012,354

I-19 Revenue less expensesPrior year −$868,817−$1,395,414

Part VI · Governance 4 of 5 board members independent, no flags

VI-1a Voting members of the governing body5

VI-1b Independent voting members4

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

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

Part VIII · Statement of revenue $2,616,940 across 7 lines filed

VIII-1e Government grants$485,932

VIII-1f All other contributions, gifts and grants$801,114

VIII-1h Total contributions, gifts and grants$1,287,046

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,284,308$1,284,308

VIII-3 Investment incomeExcluded from tax $8,086$8,086

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $37,500$37,500

VIII-12 Total revenueRelated to mission $1,321,808 · Excluded from tax $8,086$2,616,940

Part IX · Statement of functional expenses $4,012,354 across 14 lines filed

IX-2 Grants to domestic individualsPrograms $237,637$237,637

IX-5 Pay of current officers, directors and key staffPrograms $417,919 · Management $190,186 · Fundraising $69,673$677,778

IX-7 Other salaries and wagesPrograms $1,668,484 · Management $44,377 · Fundraising $3,681$1,716,542

IX-9 Other employee benefitsPrograms $200,101 · Management $41,166 · Fundraising $7,835$249,102

IX-10 Payroll taxesPrograms $150,841 · Management $19,509 · Fundraising $6,240$176,590

IX-11b Legal feesManagement $1,190$1,190

IX-11c Accounting feesManagement $18,777$18,777

IX-11g Other fees for servicesPrograms $99,072 · Management $242 · Fundraising $307$99,621

IX-13 Office expensesPrograms $16,715 · Management $44,857 · Fundraising $600$62,172

IX-14 Information technologyPrograms $157,518 · Management $72,561$230,079

IX-16 OccupancyPrograms $376,895 · Management $43,748 · Fundraising $13,074$433,717

IX-22 Depreciation, depletion and amortizationPrograms $54,259$54,259

IX-23 InsurancePrograms $10,969 · Management $1,280 · Fundraising $602$12,851

IX-24 Other expenses (24a–d)Programs $39,505 · Management $2,534$42,039

IX-25 Total functional expensesPrograms $3,429,915 · Management $480,427 · Fundraising $102,012$4,012,354

Part X · Balance sheet $6,806,173 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $1,486,003$317,734

X-2 Savings and temporary cash investmentsStart of year $3,264,781$4,959,433

X-3 Pledges and grants receivableStart of year $2,273,026$850,672

X-4 Accounts receivableStart of year $774,723$381,512

X-9 Prepaid expenses and deferred chargesStart of year $118,605$155,468

X-10c Land, buildings and equipment, netStart of year $195,612$141,354

X-16 Total assetsStart of year $8,112,750$6,806,173

X-17 Accounts payable and accrued expensesStart of year $211,720$300,557

X-26 Total liabilitiesStart of year $211,720$300,557

X-27 Net assets without donor restrictionsStart of year $5,636,804$5,654,944

X-28 Net assets with donor restrictionsStart of year $2,264,226$850,672

X-32 Total net assets or fund balancesStart of year $7,901,030$6,505,616

X-33 Total liabilities and net assetsStart of year $8,112,750$6,806,173

Part XI · Reconciliation of net assets $6,505,616 net assets at year end

XI-1 Total revenue$2,616,940

XI-2 Total expenses$4,012,354

XI-3 Revenue less expenses−$1,395,414

XI-4 Net assets at start of year$7,901,030

XI-10 Net assets at end of year$6,505,616

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Duet INC FY2021 filing

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