Third Sector Capital Partners INC

Tax-deductible

Boston, MA501(c)(3)Since 2012Public & Societal BenefitEIN 46-1301032

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Our mission is to transform public systems to advance improved and equitable outcomes.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Run by 8 volunteers and 70 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $2.2M a year · 18% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.9M
to officers and key staff · 22% of spending
Top officer’s pay higher than 53% of similar orgs
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $710K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$415K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.3M
+68% vs prior year
Spent
$13.3M
To programs
79%
Net assets
$22.8M
By yearFY2020–FY2024
Revenue
$10.3M
FY2024▲ +68%
Revenue by fiscal year
FY2020$7.4M
FY2021$27.6M
FY2022$8.7M
FY2023$6.1M
FY2024$10.3M
Expenses
$13.3M
FY2024▲ +27%
Expenses by fiscal year
FY2020$8.9M
FY2021$8.2M
FY2022$8.5M
FY2023$10.5M
FY2024$13.3M
Net assets
$22.8M
FY2024▼ -6%
Net assets by fiscal year
FY2020$7.3M
FY2021$26.7M
FY2022$26.9M
FY2023$24.1M
FY2024$22.8M

From the FY2024 Form 990 · 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: FY2024. IRS ruling in May 2014.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $10.5M Management & general 20% · $2.7M Fundraising 0% · $36K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

22 people listed on the 990; $2.9M paid to officers and key staff.

Part VII, Section A · reportable compensation
$315,497Pt VII · Sec A
Managing Dir
$235,249Pt VII · Sec A
Managing Dir
$226,938Pt VII · Sec A
Managing Dir
$226,663Pt VII · Sec A
Managing Dir
$226,495Pt VII · Sec A
Managing Dir
$210,433Pt VII · Sec A
Managing Dir
$205,344Pt VII · Sec A
$200,046Pt VII · Sec A

Caroline Whistler’s $315K as President & is at the 53rd percentile of top reported officer pay among 232 $10–100M public & societal benefit 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

NameFY2024FY2023FY2022FY2021FY2020
Caroline Whistler$315,497$300,600$299,914$277,500$237,133
Kristel Kurtz Thru 82520————$241,432
Tim Pennell$235,249$220,600$193,100$177,500$166,529
Michele Rochester$226,938$215,600———
Tyler Lewis$226,663$215,600$200,398——
Sharolyn Miller$226,495$215,600$197,614$83,201—
Maria Johanna Posey—$170,600$222,534——
Lakesha Lee$210,433————

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

Transforms public systems to achieve better, fairer results for everyone.

Provided by the organization

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3 program services account for $2.9M of program spending, described in the organization's own filed words · FY2024.
01

5505 other: supports the TGC funding for finance

$1.1Mprogram expense
02

645 partnership and project development: supports the operating budget for PPD team

$1.0Mprogram expense
03

5501 partnerships and projects: supports the TGC operating budget of PPD

$827Kprogram expense

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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
See all 4 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$10.3M
Ln 12
Fees for servicesLn 2g$7.4M
Gifts and grantsLn 1h$1.9M
Other incomeLn 4–11$568K
Money outPt IX
$13.3M
Ln 25
Programscol B$10.5M
Managementcol C$2.7M
Fundraisingcol D$36K
Owns and owesPt X
$22.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$23.2M
LiabilitiesLn 26$415K
PeoplePt VI, VII
22
listed · VII A
PaidVII A15
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Fees for servicesLn 2g$7.4M
Investment incomeLn 3$352K
Other incomeLn 4–11$568K
Gains on assetsLn 7−$361K
Total revenueLn 12$10.3M
Assets in detailPt X, end of year
CashLn 1$551K
SavingsLn 2$1.8M
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$19.0M
Land, buildings, equipmentLn 10c$87K
Other assetsLn 15$83K
Total assetsLn 16$23.2M
LiabilitiesLn 26$415K
Net assetsLn 32$22.8M
OperationsPt I, VI
EmployeesI 570
VolunteersI 68
Fiscal year endsHeaderDecember
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
LineStart FY24End FY24
Cash and savingsLn 1–2$2.3M$2.3M
InvestmentsLn 11–13$20.7M$19.0M
Land, buildings, equipmentLn 10c$83K$87K
Total assetsLn 16$24.9M$23.2M
LiabilitiesLn 26$714K$415K
Net assetsLn 32$24.1M$22.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.6M$2.2M$388K$10K
Other salaries and wagesLn 7$5.1M$4.3M$770K$21K
Pension plan contributionsLn 8$198K$168K$29K$775
Other employee benefitsLn 9$544K$462K$81K$2K
Payroll taxesLn 10$560K$467K$90K$2K
Legal feesLn 11b$204K$180K$24K
Accounting feesLn 11c$40K$35K$5K
Other fees for servicesLn 11g$2.6M$2.3M$301K
Office expensesLn 13$96K$73K$23K
Information technologyLn 14$320K$245K$75K
OccupancyLn 16$375K$375K
TravelLn 17$489K$207K$282K
Depreciation, depletion and amortizationLn 22$29K$29K
InsuranceLn 23$52K$52K
Other expenses (24a–d)Ln 24$181K$181K$93
Total functional expensesLn 25$13.3M$10.5M$2.7M$36K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $10.3M$13.3M−$3.0M$22.8M 990 PDF
FY2023 $6.1M$10.5M−$4.3M$24.1M 990 PDF
FY2022 $8.7M$8.5M$226K$26.9M 990 PDF
FY2021 $27.6M$8.2M$19.4M$26.7M 990 PDF
FY2020 $7.4M$8.9M−$1.5M$7.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $10,284,092 across 7 lines filed
VIII-1f All other contributions, gifts and grants$1,940,294
VIII-1h Total contributions, gifts and grants$1,940,294
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,423,693$7,423,693
VIII-3 Investment incomeExcluded from tax $713,066$713,066
VIII-7 Net gain or loss on sales of assetsRelated to mission −$360,945−$360,945
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $567,984$567,984
VIII-12 Total revenueRelated to mission $7,630,732 · Excluded from tax $713,066$10,284,092
Part IX · Statement of functional expenses $13,285,784 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $2,158,211 · Management $387,832 · Fundraising $10,343$2,556,386
IX-7 Other salaries and wagesPrograms $4,272,439 · Management $769,843 · Fundraising $20,552$5,062,834
IX-8 Pension plan contributionsPrograms $167,524 · Management $29,306 · Fundraising $775$197,605
IX-9 Other employee benefitsPrograms $461,527 · Management $80,738 · Fundraising $2,133$544,398
IX-10 Payroll taxesPrograms $467,428 · Management $90,487 · Fundraising $2,401$560,316
IX-11b Legal feesPrograms $180,378 · Management $23,814$204,192
IX-11c Accounting feesPrograms $35,335 · Management $4,665$40,000
IX-11g Other fees for servicesPrograms $2,277,276 · Management $300,660$2,577,936
IX-13 Office expensesPrograms $73,416 · Management $22,571$95,987
IX-14 Information technologyPrograms $244,507 · Management $75,172$319,679
IX-16 OccupancyManagement $374,723$374,723
IX-17 TravelPrograms $207,088 · Management $282,229$489,317
IX-22 Depreciation, depletion and amortizationManagement $29,338$29,338
IX-23 InsuranceManagement $51,724$51,724
IX-24 Other expenses (24a–d)Management $181,256 · Fundraising $93$181,349
IX-25 Total functional expensesPrograms $10,545,129 · Management $2,704,358 · Fundraising $36,297$13,285,784
Part X · Balance sheet $23,211,234 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $340,255$550,597
X-2 Savings and temporary cash investmentsStart of year $1,922,587$1,786,350
X-3 Pledges and grants receivableStart of year $649,009$64,000
X-4 Accounts receivableStart of year $592,222$1,577,375
X-9 Prepaid expenses and deferred chargesStart of year $217,332$55,758
X-10c Land, buildings and equipment, netStart of year $83,179$86,960
X-11 Publicly traded securitiesStart of year $20,652,159$19,007,247
X-15 Other assetsStart of year $399,514$82,947
X-16 Total assetsStart of year $24,856,257$23,211,234
X-17 Accounts payable and accrued expensesStart of year $315,358$297,530
X-19 Deferred revenue$35,333
X-25 Other liabilitiesStart of year $398,827$82,260
X-26 Total liabilitiesStart of year $714,185$415,123
X-27 Net assets without donor restrictionsStart of year $6,476,115$9,211,020
X-28 Net assets with donor restrictionsStart of year $17,665,957$13,585,091
X-32 Total net assets or fund balancesStart of year $24,142,072$22,796,111
X-33 Total liabilities and net assetsStart of year $24,856,257$23,211,234
Part XI · Reconciliation of net assets $22,796,111 net assets at year end
XI-1 Total revenue$10,284,092
XI-2 Total expenses$13,285,784
XI-3 Revenue less expenses−$3,001,692
XI-4 Net assets at start of year$24,142,072
XI-5 Net unrealized gains (losses) on investments$1,742,548
XI-7 Investment expenses−$86,817
XI-10 Net assets at end of year$22,796,111

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

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