National Consumer Law Center Inc. (NCLC)

Transcription

1 National Consumer Law Center Inc. (NCLC) General Information 7 Winthrop Square, 4th Floor Boston, MA (617) Website Organization Contact Steve Hurley development@nclc.org Year of Incorporation

2 Statements & Search Criteria Mission Statement The Boston-based National Consumer Law Center (NCLC ) works for consumer justice and economic security for low-income and other disadvantaged people, including older adults. Using our expertise in consumer and energy law, we seek positive impact for consumers through policy analysis and advocacy; publications; litigation; expert witness services, and training and advice for advocates, housing counselors, and social services providers. Background Statement The National Consumer Law Center stops exploitative practices and helps low-income families retain and build assets. Boston College Law School was our first home 43 years ago, when NCLC was created to be a national legal services support center. Since that time in 1969, we have evolved into a mature nonprofit organization paying special attention to the effect of public policy on vulnerable populations.nclc is America's consumer law expert, with 25 public interest attorneys specializing in credit, home energy, banking, mortgage lending, and student loans, among other marketplace issues. Our attorneys are regularly called upon to write or review the precise statutory and regulatory language that will be most effective in protecting consumers. NCLC also provides technical assistance to local legal counsel representing individual, low-income consumers. In the states, we support grassroots campaigns to protect and extend consumer rights. For greater impact at a national level, NCLC attorneys have written several bedrock consumer protections including significant portions of the landmark Wall Street Reform and Consumer Protection Act (2010), Credit Card Accountability, Responsibility, and Disclosure Act (2009), Fair and Accurate Credit Transactions Act (2003), and Home Ownership & Equity Protection Act (1994). Additionally -- after years of advocacy by NCLC and a widely circulated NCLC investigative report that brought attention to financial scams aimed at military personnel and veterans -- Congress passed a law in 2006 placing a 36 percent interest rate cap on certain loans made to active duty armed forces members and their dependents. Litigating for consumer financial fairness is an important component of NCLC's work, too. For example, we have filed lawsuits responding to the fact that African- American and Hispanic homeowners and their communities have borne the brunt of the subprime mortgage fiasco and resulting foreclosure crisis in our nation, in violation of federal civil rights laws. NCLC is also passionate about expanding the practice of consumer law. In 2011, more than 16,000 attorneys, policymakers, and service providers attended an NCLC conference, training, or webinar. Annually, we update a 19-volume set of treatises on topics including auto sales, debt collection, and mortgages. Practitioners and professors use these manuals to practice, create, and teach consumer law that helps everyday families and individuals. 2

3 Impact Statement In 2012, NCLC supported litigation that spearheaded a multi-billion dollar settlement between state Attorneys General, the federal government and five national mortgage servicing companies, to prevent foreclosures going forward. Also in the past year, NCLC: Attracted funding to prevent utility shut-offs for Massachusetts consumers. NCLC's Project Stay Connected -- that helps lowincome households maintain heat and electricity -- was supported in 2012 by the Boston Foundation and other local foundations. Won Home-Saving Reforms. The U.S. Supreme Court recently approved new bankruptcy rules to prevent foreclosures, following recommendations by a federal panel chaired by an NCLC attorney. Eliminated Refund Anticipation Loans. NCLC led a decadelong campaign against high-cost loans made by tax preparation companies. In 2012, H & R Block -- and the year before, JP Morgan Chase -- stopped making these loans, which target low-income consumers and undermine the earned-income tax credit. NCLC's top goals for the next twelve months include: End Abusive Debt Collection Practices, and Restrict Payday and Auto Title Lending. Payday and auto title loans include 400% interest; NCLC is urging a crackdown on these reckless financial products. To advocate for fairer credit reporting and less abusive debt collection, NCLC is promoting model legislation and organizing campaign partners in targeted states. Save Homes. NCLC is co-administering a two-year initiative to prevent foreclosures in Massachusetts. We are also pressing federal regulators to require more mortgage modifications that prevent foreclosures. Promote Equal Opportunity. Because exploitative consumer transactions particularly decimate finances in communities of color, we plan to raise seed funding for a new Institute for Racial Justice and Equal Opportunity at NCLC -- and we are actively engaged in policy advocacy and litigation to address these inequities. Needs Statement NCLC seeks funding to support four key Massachusetts initiatives: * Project Stay Connected, which helps thousands of low-income utility customers maintain their utility service and restore service if it has been disconnected. * Foreclosure Prevention Project. Working closely with the Massachusetts Legal Assistance Corporation, legal aid programs across the state, and the Attorney General's office, NCLC is administering an innovative program to deliver high-quality legal representation for homeowners facing foreclosure. * Student Loan Borrower Assistance Project. NCLC helps student loan borrowers who are in financial distress. We also advocate for public policies that will make student loan repayment more affordable and manageable for borrowers with financial difficulties. * Working Cars for Working Families. This program helps low-income individuals and families to obtain and keep an affordable and reliable car. Board Chair Statement Service Categories Consumer Protection Geographic Areas Served NCLC serves consumers, attorneys, human services providers, and public policymakers in Massachusetts and across the U.S. Founded at Boston College Law School and currently based in Boston, NCLC has deep roots to the legal aid and nonprofit community in Massachusetts. We are a state-support center for legal aid programs in the Commonwealth and work in all regions of the state. Please review online profile for full list of selected areas served. 3

4 Programs Project Stay Connected Description Project Stay Connected helps low-income gas and electric customers maintain their utility service and restore disconnected service. The results: fewer families becoming homeless, due to not having heat in their homes, and fewer families choosing whether "to heat or eat." Thousands of Massachusetts families lose utility services each year because the bills are simply too high. Families receiving public benefits spend 20% - 25% of their income on utilities, and consequently often face termination. When shut-off occurs, consumers may face health hazards and eviction. To help these families, NCLC provides trainings to social service agencies, distributes manuals, and provides one-on-one advice via and phone. We also engage in systemic advocacy, such as updating rules that protect seriously ill and elderly customers from utility terminations. The full range of our web-based resources can be found at: Budget Category Population Served Program Short Term Success Human Services, General/Other Emergency Assistance Aging, Elderly, Senior Citizens, Families, Adults Annually, advocates are trained at 6-12 sessions statewide. Participants receive NCLC's guidebook: Utilities Advocacy for Low-Income Households. Each year, Project Stay Connected also: * Provides Individual Case Consultation to consumers or their advocates who call or for help. *Helps Match Clients in Need with Available Programs. NCLC has worked with a range of state and local agencies to ensure that tens of thousands of additional low-income households get on the discount utility rates; receive fuel assistance and weatherization services; and enroll on Arrearage Management Programs that help reduce customer arrearages. *Advocates for Fuel Assistance. The Low Income Home Energy Assistance Program is the cornerstone of government efforts to help consumers with unaffordable energy bills. NCLC has successfully advocated for tens of millions in supplemental state funding for the program. 4

5 Program Long term Success Program Success Monitored By Examples of Program Success Project Stay Connected (PSC) can ensure that families maintain critical utility services to avoid health hazards and the risk of becoming homeless due to utility shutoffs. To achieve this, PSC (1) provides advice to individual households; (2) annually trains hundreds of advocates social workers, housing counselors, and shelter providers on how to prevent service shut offs, and how to restore terminated service; and (3) successfully advocates for programs and policies that help low-income families avoid termination. Training of front-line social services providers means that many families can be helped. Massachusetts has strong protections for low-income utility consumers: a winter moratorium, infant and serious illness protections, flexible payment plans, and others. But experience shows that widespread community education and aggressive advocacy to enforce these rules is very much needed. Our goal is to build long-term, robust capacity in Massachusetts to avoid utility terminations and/or restore service for low-income clients statewide. To do this, we train -- and provide ongoing advice and information to -- front-line social services providers. NCLC has evaluated the success of Project Stay Connected by tracking the number of trainings conducted, people trained, and training materials distributed, including the NCLC book Utilities Advocacy for Low-Income Households. To monitor the helpfulness and quality of our trainings and educational materials, every trainee receives an evaluation form. NCLC also evaluates the impact of our work on public policy debates, assessing our influence on policies affecting low-income utility customers. Since 2004, Project Stay Connected has: *Trained approximately 2,500 advocates. *Distributed over 40,000 copies of the brochure Keeping the Heat and Lights On, in English and Spanish. *Effectively advocated for fuel assistance, including $21 million in state funding for the Low Income Home Energy Assistance Program, in These recent case scenarios exemplify how Project Stay Connected assists distressed households: *NCLC advocated with utility companies to get services restored for an unemployed 58-year-old who had been living without electricity for a year and without gas for three months. The companies will be required to maintain services going forward because the client has a serious illness, diabetes. *NCLC helped restore discount rates for income-eligible electricity customers in western Massachusetts, who had been dropped from discount rates because the household names on assistance applications were different from those on utility bills. 5

6 Massachusetts Foreclosure Prevention Project Description NCLC attorneys moved aggressively to slow down the tidal wave of foreclosures that is devastating families in the Bay State and our nation. Working closely with the Massachusetts Legal Assistance Corporation, NCLC is administering an innovative program to deliver high-quality legal representation for homeowners facing foreclosure. Known as the HomeCorps Borrower Representation Initiative, the project is funded in part by the Office of the Massachusetts Attorney General and provides direct assistance and close support, training, and case consultation to attorneys working on foreclosure cases in legal aid offices statewide. NCLC also conducts high-impact advocacy to minimize Massachusetts foreclosures. Our attorneys advocate for state and federal laws and regulations requiring mortgage servicers to pursue loan modifications before foreclosing. NCLC advocates also work to prevent abusive servicing and other practices that cause unnecessary and harmful foreclosures. Budget Category Population Served Program Short Term Success Housing, General/Other Housing, General/Other Families, Adults, At-Risk Populations The Massachusetts Foreclosure Prevention Project's near-term successes will include: 1. Creating a unified legal delivery system in Massachusetts, for low- and moderate-income homeowners facing foreclosure. By September 2014, the HomeCorps Borrower Representation Initiative will have hired, trained, and provided ongoing education and case consultation to 19 new attorneys working in 14 legal aid offices statewide. The project will also expand and maintain a legal services library of strategies, pleadings, and briefs on a password-protected website. 2. Winning step-by-step milestones in litigation to prevent foreclosures. In partnership with co-counsel, including Neighborhood Legal Services and Greater Boston Legal Services, NCLC has brought five class action suits on behalf of Massachusetts residents to challenge the failure of five banks ("mortgage servicers") to honor promises made to borrowers under federal programs to modify mortgages and stop foreclosures. 6

7 Program Long term Success Program Success Monitored By Examples of Program Success Long-term successes will be prevented family dislocation, and the retention of household assets (i.e. family homes) -- which is critical for the financial success of low- and moderate-income families. "This project levels the playing field for families close to losing their homes," says NCLC Executive Director Willard Ogburn, "Lawyers always represented banks in foreclosures and until now, 10 percent or less of homeowners got representation." This foreclosure prevention project will also create long-term case law benefiting thousands of homeowners. With local collaborators, NCLC is representing Massachusetts homeowners in litigation involving mortgage servicers' practices under federal foreclosure prevention programs. Also, the long-term capacity of legal services to assist clients facing foreclosure will be deepened, through successes of new attorneys hired through this program -- but also through the technical assistance that even veteran legal aid attorneys will receive. NCLC attorneys will monitor the progress of 19 legal aid attorneys hired through the HomeCorps Borrower Representation Initiative. The heart of the project is the direct provision of legal services to help financially distressed homeowners. Seasoned, expert NCLC attorneys' coaching of, and assistance to, the local legal aid lawyers in this project will ensure that cases result in positive outcomes for families. Local attorneys will be required to submit regular records, tracking services, and case notes to NCLC and partner, the Massachusetts Legal Assistance Corporation. Monitoring, tracking, and evaluating of legal aid attorneys' caseloads will also happen during regular, intensive trainings. NCLC's goal is to help attorneys working in the Initiative to quickly achieve proficiency on a wide range of complex litigation issues and to build a network of cohesive relationships that are vital to success. Monthly in-person trainings will be held, in addition to frequent webinars. This client success story uses a fictitious name -- and exemplifies help provided through the Massachusetts Foreclosure Prevention Project. Maria S. and her husband have been proud homeowners for 13 years, just outside of Boston. In 2009, Maria's husband suddenly lost his job. To make ends meet, Maria fell behind on her mortgage payments. To save her home, she applied, and was approved for, a Home Affordable Modification Program (HAMP) Trial Period Plan, with the promise of a permanent modification in 3 months. But after 7 months, the mortgage servicer had refused to follow through, and the amount due under the original loan was increasing. Maria contacted NCLC after the servicer suddenly demanded an $18,000 payment to prevent foreclosure proceedings. For 2 years, NCLC litigated and negotiated on behalf of Maria. Finally, a permanent loan modification was approved in December, Maria is still making mortgage payments on-time and has caught up on other overdue bills. 7

8 Student Loan Borrower Assistance Project Description Through the Student Loan Borrower Assistance Project, NCLC advocates for state and federal public policies that will promote equal access to higher education, make repayment more affordable for struggling student loan borrowers, and alleviate the consequences of default, for low-income borrowers. Through the project, NCLC also directly assists a small number of Massachusetts low-income student loan borrowers who are in financial distress. Self-help information for borrowers, loan program updates, public policy background, and a forum for borrowers to share their stories, can be found at the Project's website: An important focus of the Student Loan Borrower Assistance Project is that student loan problems are most severe for students who borrowed to attend for-profit schools. Sadly, these businesses cater to low-income individuals -- but often fail to help students complete training programs and find jobs after graduation. Budget Category Population Served Program Short Term Success Education, General/Other Adult Education Adults, College Aged (18-26 years), Poor,Economically Disadvantaged,Indigent Short term successes for the Student Loan Borrower Assistance Project are defined in part by the quality and positive outcomes of the legal assistance we provide to a small number of individual clients with student loan problems. Many of our clients attended for-profit schools and, in many cases, are seeking to go back to school. We also seek positive public policy changes to: help alleviate the consequences of default; require loan discharge (cancellation) for the most vulnerable borrowers and those harmed by abusive school practices; promote and streamline loan repayment options; and eliminate abusive practices such as exorbitant loan collection fees and violations of due process (e.g. the improper garnishment of wages or seizure of government benefits to collect student loans). 8

9 Program Long term Success Program Success Monitored By Examples of Program Success Through the Student Loan Borrower Assistance Project, NCLC seeks to increase public understanding of student lending issues and identify and successfully advocate for public policy solutions to promote access to education, lessen student debt burdens, and make repayment more manageable. Student loan debt in the United States has topped $1 trillion. The New York Times has reported that Americans owe more on student loans than on credit cards, also highlighting that "In all, nearly one in every six (student loan) borrowers with a balance is in default." This is a huge problem, and NCLC's policy goals include: restore the bankruptcy "fresh start" for student loan borrowers; make default and delinquency rehabilitation policies more borrowerfriendly; restore a fair and reasonable student loan statute of limitations; and protect social security recipients owing student loan debt. We regularly monitor the progress of all individual student borrowers who are being assisted by NCLC. We measure our success by examining the quality of the outcomes we achieve for individual clients, e.g. how many clients are no longer in default on their student loan, and whether they receive a student loan discharge, or some other beneficial outcome. We also assess our influence on student loan policies affecting low-income students, both in terms of helpful provisions that are adopted and harmful provisions that are eliminated. Results from the evaluation inform future project activities. This success story uses a fictitious name and exemplifies help provided through the Student Loan Borrower Assistance Project. - - After Sonja G. lost her job, she and her infant son became homeless. With no income, Sonja fell behind on bills and defaulted on 2 student loans, totaling $7,000. They were from a computer certification course she completed 10 years before and had been struggling to pay off. The school had offered no job placement services, and Sonja could not find a position after graduation. In debt, Sonja returned to the administrative positions she was hoping to exit for a better paying IT career. NCLC helped Sonja consolidate her loans, get out of default, and become eligible again for federal student loans. Back on track, Sonja and her son now live in an apartment. Sonja recently began an accredited medical information management program at Bunker Hill Community College -- and is one step closer to achieving her goals. 9

10 Working Cars for Working Families Description Working Cars for Working Families helps consumers obtain and keep an affordable and reliable car. Our goal is to reduce public policy barriers that prevent auto ownership for families of limited means. The project, which is national in scope, has its own dedicated website: NCLC seeks funding to assist more Massachusetts service providers, organizations, and agencies that help low-income families obtain a car e.g. Good News Garage, More Than Wheels, and the car ownership program of the Department of Transitional Assistance. To improve laws and regulations on auto sales and financing, NCLC works with service providers to advocate for public policy changes. Our staff attorneys are experts with a command of the legal and policy reforms that could make car ownership more accessible for low-income families. We translate this expertise into technical assistance to local organizations connecting families with a car. Budget Category Population Served Program Short Term Success Human Services, General/Other Personal Goods & Services Adults, Families, Poor,Economically Disadvantaged,Indigent In Massachusetts, Working Cars for Working Families has three short-term goals: 1) The creation and maintenance of a task force to exam and publicize the barriers to safe and affordable car ownership by low-income residents -- and to advocate for change. 2) The Training and Support of Coalition Members. Having hosted 16 national webinars related to auto transactions and policy, NCLC desires to create at least two Massachusettsspecific webinars -- in addition to several workshops on substantive legal and policy issues, which will be held in legal services and human services offices across the state. We also want to add Massachusetts counselors, advocates, and program administrators to NCLC's national auto policy list-serve -- in order to share strategies, tactics, and lessons learned. 3) The provision of technical assistance and case consultation to Massachusetts attorneys and legal aid lawyers helping clients with difficulties purchasing, financing and keeping a car. 10

11 Program Long term Success Program Success Monitored By Examples of Program Success Long-term success for Working Cars for Working Families will be: * Improved public policies that protect and help car buyers. In Massachusetts, these policies will be advanced by key assetbuilding service providers that help low-income families move out of poverty. * A greater level of awareness among policymakers, the media, and the public about the lack of working cars for working families and importance of reform. For most families, a car is required to get and keep employment, access affordable housing, obtain medical care, and participate in numerous community activities with positive impact on family success. However, policymakers generally do not see, feel, or understand the intense difficulties of families without a car. * A greater number of organizations in Massachusetts will view the barriers to affordable, reliable car ownership as a priority issue and will be ready to engage in continued policy monitoring and reform efforts. NCLC sends a survey to private and legal services lawyers receiving help from our attorneys, asking them to rate the quality and helpfulness of our training, mentoring, and case assistance services. We also seek input on ways the project could better help lawyers' ability to help clients. NCLC also evaluates the impact of our work on public policy debates, assessing our influence on state and federal policies affecting low-income consumers desiring to purchase a car, both in terms of helpful provisions that are adopted and harmful provisions that are eliminated. The results inform future project activities. NCLC led a Massachusetts coalition that won protections from debt collectors who threaten property and bank account seizures. A new law enacted in 2011 allows consumers to keep a car worth up to $7,500 out of collectors' reach, up from $700 in the past. Our state work builds on national project milestones, including: * Publishing Repo Madness: How Automobile Repossessions Endanger Owners, Agents & the Public and Fueling Fair Practices: Road Map to Improved Public Policy for Used Car Sales & Financing. * Hosting 16 webinars about affordable car ownership, including the topics "Understanding Car Ownership Programs and "How Car Dealers Pack Loans." *Assisting individuals. For example, a case manager contacted NCLC on behalf of a single mother who needed car repairs. We suggested technology programs for low-cost repairs. The case worker found a local program that offered reduced rates and wrote, "I appreciate this recommendation...thank you for the helpful information." 11

12 Management CEO/Executive Director Executive Director Mr. Richard Dubois Term Start Jan Senior Staff Ms. Margaret Kohler Title Experience/Biography Director of Finance Margaret Kohler joined NCLC in July 1998 as director of finance and as such monitors income and expenses and helps guide the Center's finances. Her prior experience includes seven years in finance and administration at the Union of Concerned Scientists. Margaret earned her B.A. and an MBA in non-profit management from Boston University. Mr. Richard DuBois Title Experience/Biography Director of Development and Project Planning Richard DuBois oversees all of NCLC's resource development activities. He helps to identify and maintain appropriate sources of funding for NCLC's programs and works to keep the philanthropic community informed and engaged in the Center's work. In particular, Rich works closely with staff attorneys and policy experts to develop projects and funding proposals. Prior to assuming his current role he was a development officer at NCLC for nine years. Rich joined NCLC in 1998 as a staff attorney specializing in foreclosure prevention issues. He was previously an attorney at the Center for Insurance Research in Cambridge, Mass. Rich earned his B.A. from Yale University and his J.D. from the University of Michigan. 12

13 Ms. Carolyn L. Carter Title Deputy Director for Advocacy Experience/Biography Carolyn Carter, the Deputy Director for Advocacy at NCLC, has specialized in consumer law issues for over 30 years. From 1974 to 1986 she worked for the Legal Aid Society of Cleveland, first as a staff attorney and later as law reform director. From 1986 to 1999 she was co-director of a legal services program in Pennsylvania. She was the 1992 recipient of NCLC's Vern Countryman Award. From 2005 to 2007 she was a member of the Federal Reserve Board's Consumer Advisory Council. Carolyn is co-author of NCLC's Truth in Lending, Unfair and Deceptive Acts and Practices, Collection Actions and Consumer Warranty Law publications, and she is a contributor to a number of other NCLC treatises. Mr. Stephen Hurley Title Chief Development Officer Experience/Biography Staff Information Full Time Staff Part Time Staff Volunteers Contractors Staff Demographics - Ethnicity African American/Black 8 Asian American/Pacific Islander 7 Caucasian 32 Hispanic/Latino 1 Native American/American Indian 0 Other 0 Staff Demographics - Gender Male Female Unspecified Formal Evaluations 13

14 CEO Formal Evaluation CEO/Executive Formal Evaluation Frequency Senior Management Formal Evaluation Senior Management Formal Evaluation Frequency NonManagement Formal Evaluation Non Management Formal Evaluation Frequency Yes Annually Yes Bi-Annually Yes Bi-Annually Plans & Policies Organization has a Fundraising Plan? Organization has a Strategic Plan? Organization Policy and Procedures Nondiscrimination Policy Whistleblower Policy Under Development Under Development Under Development Under Development Yes 14

15 Board & Governance Board Chair Board Chair Mr. Michael Ferry Company Affiliation Gateway Legal Services Term June 2011 to June Board Members Name Affiliation Status Ms. Nancy Barron Kemnitzer, Barron & Krieg Voting Mr. Mark E. Budnitz Georgia State University School of Law Voting Ms. Latrynda D. Carlton Florida Rural Legal Services Voting Mr. Mark A. Chavez Chavez & Gertler Voting Ms. Beverly Courtney Special Services Coordinator for Washington County Opportunities, Inc. Voting Ms. Donna Daley Community Volunteer Voting Mr. Jonathan L. Kravetz Partner at Mintz, Levin, Cohn, Ferris, Glovsky & Popeo Voting Ms. Dancy McKinney-Parker Community Volunteer Voting Ms. LaQuita Robbins Community Volunteer Voting Mr. Dolores Silva Smith Retired Voting Professor David Vladeck Georgetown University Law Center Board Demographics - Ethnicity African American/Black 42 Asian American/Pacific Islander 0 Caucasian 42 Hispanic/Latino 16 Native American/American Indian 0 Other 0 Board Demographics - Gender Male Female Unspecified Board Information 15

16 Number of Full Board Meetings Annually Written Board Selection Criteria? Written Conflict of Interest Policy? Percentage Making Monetary Contributions Constituency Includes Client Representation 3 Under Development Under Development 83% Yes 16

17 Financials Fiscal Year Fiscal Year Start Jan 01, 2017 Fiscal Year End Dec 31, 2017 Projected Revenue $9,068, Projected Expenses $9,946, Endowment? No Spending Policy N/A Credit Line? Yes Reserve Fund? Yes Months Reserve Fund Covers 13 Detailed Financials Revenue and Expenses Fiscal Year Total Revenue $11,958,367 $11,487,586 $10,386,467 Total Expenses $8,094,364 $11,715,923 $7,650,931 Revenue Sources Fiscal Year Foundation and Corporation Contributions Government Contributions $124,194 $213,451 $169,722 Federal State Local Unspecified $124,194 $213,451 $169,722 Individual Contributions $3,116,645 $2,191,010 $2,931,176 Indirect Public Support $0 Earned Revenue $8,170,596 $6,620,738 $6,435,723 Investment Income, Net of Losses $280,269 $432,453 $849,846 Membership Dues $0 Special Events $0 Revenue In-Kind Other $266,663 $2,029,934 $0 17

18 Expense Allocation Fiscal Year Program Expense $6,888,136 $8,143,476 $6,466,069 Administration Expense $787,858 $3,102,440 $717,120 Fundraising Expense $418,370 $470,007 $467,742 Payments to Affiliates Total Revenue/Total Expenses Program Expense/Total Expenses 85% 70% 85% Fundraising Expense/Contributed Revenue 13% 20% 15% Assets and Liabilities Fiscal Year Total Assets $23,537,966 $19,523,262 $25,515,594 Current Assets $2,346,206 $3,461,196 $5,155,606 Long-Term Liabilities $0 Current Liabilities $1,543,261 $1,555,127 $680,904 Total Net Assets $21,994,705 $17,968,135 $24,834,690 Short Term Solvency Fiscal Year Current Ratio: Current Assets/Current Liabilities Long Term Solvency Fiscal Year Long-Term Liabilities/Total Assets 0% 0% 0% Top Funding Sources Fiscal Year Top Funding Source & Dollar Amount Second Highest Funding Source & Dollar Amount Third Highest Funding Source & Dollar Amount Capital Campaign Currently in a Capital Campaign? No Comments Foundation Staff Comments Financial summary data in the charts and graphs above are per the organization's IRS Form 990s. Created Copyright 2018 The Boston Foundation 18