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Hubweek INC FY2021 filing

Boston, MAUnknown exempt organizationEIN 84-2151766Revenue $899K in FY2021

On file with the IRS1 Exchange Place 201 · Boston, MA

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Hubweek, INC. Is an organization dedicated to igniting and unleashing the potential of boston. We guide the doers, dreamers, and makers that define who we are as a city and what our future will be. Our purpose is to help build a better future for the city of boston. Hubweek, INC. Creates and curates events, programming, and content with the goal of bulding community and educating the public on developments and opportunities at the intersection of art, science and technology.

78¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $122K a year · 23% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
45 mo
of spending, in cash
Looks good: 44.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
126% of total assets
Concern: liabilities are 126% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$899K
+134% vs prior year
Spent
$125K
To programs
78%
Net assets
−$255K
By yearFY2020–FY2022
Revenue
$899K
FY2021▲ +134%
Tap a bar for its year
Revenue by fiscal year
FY2020$385K
FY2021$899K
FY2022$295K
Expenses
$125K
FY2021▼ -88%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$125K
FY2022$40K
Net assets
−$255K
FY2021▲ +75%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.0M
FY2021−$255K
FY2022$0

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $98K Management & general 22% · $27K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Ryan Walsh
Treasurer/ Clerk
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Amy Rollins
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Hubweek INC 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 15aYes

Programs and updates

Ignites Boston's potential by curating events and programming at the intersection of art, science, and technology.

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Provided by the organization

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1 program · $98K · in their own filed words · FY2021
01

Hubweek is an experiment in collaboration, celebration, and community. Throughout the year at hubweek events, smart and creative people come together to share their work with each other, their neighbors, and the world.

$98Kprogram 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 · FY2021
Mass General Brigham Incorporated & Affiliates Group ReturnFY2021$250K
Total grants receivedfrom 1 funder$250K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$899K
Ln 12
Gifts and grantsLn 1h$899K
Investment incomeLn 3$99
Money outPt IX
$125K
Ln 25
Programscol B$98K
Managementcol C$27K
Owns and owesPt X
−$255K
net assets · Ln 32
Cash and savingsLn 1–2$467K
Total assetsLn 16$967K
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$899K
Government grantsLn 1e$149K
Investment incomeLn 3$99
Total revenueLn 12$899K
Assets in detailPt X, end of year
CashLn 1$167K
SavingsLn 2$299K
Cash and savings togetherLn 1–2$467K
Total assetsLn 16$967K
LiabilitiesLn 26$1.2M
Net assetsLn 32−$255K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
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 FY21End FY21
Cash and savingsLn 1–2$93K$467K
Total assetsLn 16$344K$967K
LiabilitiesLn 26$1.4M$1.2M
Net assetsLn 32−$1.0M−$255K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$550$550
Accounting feesLn 11c$18K$18K
Office expensesLn 13$2K$2K
TravelLn 17$398$398
InsuranceLn 23$105$105
Other expenses (24a–d)Ln 24$105K$98K$7K
Total functional expensesLn 25$125K$98K$27K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $295K$40K$255K$0 990 PDF
FY2021 Viewing $899K$125K$774K−$255K 990 PDF
FY2020 $385K$1.0M−$663K−$1.0M 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 FY2021 990 (6 parts)
Part I · Summary $899,423 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $385,000$899,324
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $68$99
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $385,068$899,423
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 $616,973$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $431,147$125,000
I-18 Total expensesPrior year $1,048,120$125,000
I-19 Revenue less expensesPrior year −$663,052$774,423
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $899,423 across 5 lines filed
VIII-1e Government grants$149,324
VIII-1f All other contributions, gifts and grants$750,000
VIII-1h Total contributions, gifts and grants$899,324
VIII-3 Investment incomeExcluded from tax $99$99
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $99$899,423
Part IX · Statement of functional expenses $125,000 across 6 lines filed
IX-11b Legal feesManagement $550$550
IX-11c Accounting feesManagement $17,629$17,629
IX-13 Office expensesManagement $1,521$1,521
IX-17 TravelManagement $398$398
IX-23 InsuranceManagement $105$105
IX-24 Other expenses (24a–d)Programs $97,760 · Management $7,037$104,797
IX-25 Total functional expensesPrograms $97,760 · Management $27,240 · Fundraising $0$125,000
Part X · Balance sheet $966,556 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $43,555$167,192
X-2 Savings and temporary cash investmentsStart of year $49,266$299,364
X-3 Pledges and grants receivableStart of year $250,000$500,000
X-16 Total assetsStart of year $343,873$966,556
X-17 Accounts payable and accrued expensesStart of year $7,290$4,750
X-25 Other liabilitiesStart of year $1,216,979$1,216,979
X-26 Total liabilitiesStart of year $1,373,469$1,221,729
X-27 Net assets without donor restrictionsStart of year −$1,029,596−$255,173
X-32 Total net assets or fund balancesStart of year −$1,029,596−$255,173
X-33 Total liabilities and net assetsStart of year $343,873$966,556
Part XI · Reconciliation of net assets −$255,173 net assets at year end
XI-1 Total revenue$899,423
XI-2 Total expenses$125,000
XI-3 Revenue less expenses$774,423
XI-4 Net assets at start of year−$1,029,596
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$255,173

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

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