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New England Chapter

Not tax-deductible

New York, NY501(c)(6)Community Development EIN 45-5135357Revenue $784K in FY2025

On file with the IRSnewengland.corenetglobal.org/home380 Lexington Avenue FL 51, 10168-0002 · New York, NYTax-exempt since Aug 2014

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To connect groups of professionals, end users and service providers in corporate real estate and corporate infrastructure management to advance their knowledge, promote mission personal excellence and add value to each individual and their respective enterprises.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $19K a year · 3% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 8.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$784K
-8% vs prior year
Spent
$935K
To programs
100%
Net assets
$675K
By yearFY2020–FY2025
Revenue
$784K
FY2025▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$337K
FY2022$449K
FY2023$412K
FY2024$852K
FY2025$784K
Expenses
$935K
FY2025▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$871K
FY2021$349K
FY2022$506K
FY2023$407K
FY2024$899K
FY2025$935K
Net assets
$675K
FY2025▼ -18%
Tap a bar for its year
Net assets by fiscal year
FY2020$937K
FY2021$924K
FY2022$868K
FY2023$872K
FY2024$825K
FY2025$675K

From the FY2025 Form 990 (year ending March 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $935K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Adam Fandrey
President
$0Pt VII · Sec A
Jacqueline Falla
President-Elect
$0Pt VII · Sec A
Ken Papetti
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Kristin Poulin
Cheif Talent Officer
$0Pt VII · Sec A
Laurie Boehl
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Beth Choulas
Director
$0Pt VII · Sec A
See New England Chapter executive salaries →

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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 15aNo

Programs and updates

Connects corporate real estate and infrastructure professionals to advance knowledge and add value.

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Provided by the organization

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1 program · $935K · in their own filed words · FY2024
01

Facilitating and sponsoring programs that provide members educational and networking opportunities.

$935Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$784K
Ln 12
Fees for servicesLn 2g$784K
Money outPt IX
$935K
Ln 25
Programscol B$935K
Owns and owesPt X
$675K
net assets · Ln 32
Cash and savingsLn 1–2$675K
Total assetsLn 16$675K
LiabilitiesLn 26$0
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$784K
Total revenueLn 12$784K
Assets in detailPt X, end of year
CashLn 1$675K
Cash and savings togetherLn 1–2$675K
Total assetsLn 16$675K
LiabilitiesLn 26$0
Net assetsLn 32$675K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMarch
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
LineStart FY25End FY25
Cash and savingsLn 1–2$825K$675K
Total assetsLn 16$825K$675K
LiabilitiesLn 26$0$0
Net assetsLn 32$825K$675K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$294K
Accounting feesLn 11c$23K
Other fees for servicesLn 11g$66K
Advertising and promotionLn 12$10K
Office expensesLn 13$12K
Information technologyLn 14$17K
OccupancyLn 16$2K
TravelLn 17$16K
Conferences, conventions and meetingsLn 19$468K
Other expenses (24a–d)Ln 24$26K
Total functional expensesLn 25$935K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $784K$935K−$151K$675K 990 PDF
FY2024 $852K$899K−$47K$825K 990 PDF
FY2023 $412K$407K$4K$872K 990 PDF
FY2022 $449K$506K−$56K$868K 990 PDF
FY2021 $337K$349K−$12K$924K 990 PDF
FY2020 $1.0M$871K$147K$937K 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 FY2025 990 (6 parts)
Part I · Summary $784,279 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $850,704$784,279
I-10 Investment incomePrior year $1,563$0
I-11 Other revenuePrior year $15$0
I-12 Total revenuePrior year $852,282$784,279
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $899,101$934,941
I-18 Total expensesPrior year $899,101$934,941
I-19 Revenue less expensesPrior year −$46,819−$150,662
Part VI · Governance 20 of 20 board members independent, 3 to look at
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $784,279 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $784,279$784,279
VIII-12 Total revenueRelated to mission $784,279 · Unrelated business $0 · Excluded from tax $0$784,279
Part IX · Statement of functional expenses $934,941 across 10 lines filed
IX-11a Management fees$294,000
IX-11c Accounting fees$22,975
IX-11g Other fees for services$65,942
IX-12 Advertising and promotion$10,355
IX-13 Office expenses$12,098
IX-14 Information technology$17,135
IX-16 Occupancy$2,468
IX-17 Travel$15,887
IX-19 Conferences, conventions and meetings$467,795
IX-24 Other expenses (24a–d)$26,286
IX-25 Total functional expenses$934,941
Part X · Balance sheet $674,705 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $825,367$674,705
X-16 Total assetsStart of year $825,367$674,705
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $825,367$674,705
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $825,367$674,705
X-33 Total liabilities and net assetsStart of year $825,367$674,705
Part XI · Reconciliation of net assets $674,705 net assets at year end
XI-1 Total revenue$784,279
XI-2 Total expenses$934,941
XI-3 Revenue less expenses−$150,662
XI-4 Net assets at start of year$825,367
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$674,705

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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