Overview
What is Massachusetts Higher Education Consortium?
The Massachusetts Higher Education Consortium is a nonprofit organization based in Amherst, Massachusetts. Composed of various nonprofit, public, and private institutions of higher education, technical schools, charter and vocational schools, libraries, municipalities, and educational nonprofit organizations within New England, its primary mission is to establish group purchase agreements for the benefit of its members. By promoting effective purchasing management, collecting and disseminating useful information, and providing advice to member organizations, the Consortium aims to enhance efficiency and cost savings for its approximately 2,645 members. With a workforce of 24 individuals, the Massachusetts Higher Education Consortium fosters cooperation among its members, contributing to the advancement of education in the New England region.
Official website here: www.mhec.net
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 92%, Four-Star out of Four Star rating.
The Massachusetts Higher Education Consortium has achieved a high score of 92%, demonstrating strong accountability and financial practices. This rating is based entirely on the Accountability & Finance beacon, indicating a robust focus on transparent operations and governance. The organization has maintained an independent board with 88% of members being independent, further enhancing its credibility and integrity.
Financially, the consortium exhibits impressive oversight with an audit and oversight committee that scored full marks. Additionally, the organization has implemented essential policies such as conflict of interest and whistleblower protections, contributing to its strong governance framework. The ratio of liabilities to assets is favorable, indicating sound financial health, while the program expense ratio suggests a significant portion of funds is allocated toward mission-driven activities.
While the overall score highlights many strengths, the program expense ratio received a slightly lower score of 21 out of 25 points, suggesting there may be room for improvement in maximizing program spending relative to total expenses. However, the organization's transparency and commitment to accountability are clearly reflected in its high rating.
This AI summary has been generated from information found on Charity Navigator.
Is Massachusetts Higher Education Consortium legitimate?
Massachusetts Higher Education Consortium is a legitimate nonprofit organization registered as a 501(c)(3) entity. Massachusetts Higher Education Consortium submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $322,064
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,331,955
For more financial information, click here
Official website here: www.mhec.net
What is the mission statement of Massachusetts Higher Education Consortium?
The Massachusetts Higher Education Consortium's mission is to establish group purchase agreements for the benefit of its member organizations. This is done to promote effective purchasing management, collect and disseminate useful information, and provide advice to these institutions. The consortium is composed of various non-profit, public, and private institutions of higher education, technical schools, charter and vocational schools, libraries, municipalities, and educational non-profit organizations located within New England. Membership is limited to specific types of institutions within this region.
Official website here: www.mhec.net
Who is the CEO of Massachusetts Higher Education Consortium?
Michael Di Yeso is the Director of Massachusetts Higher Education Consortium.
Official website here: www.mhec.net
What is the revenue of Massachusetts Higher Education Consortium?
Massachusetts Higher Education Consortium's revenue in 2023 was $4,125,037.
Official website here: www.mhec.net
Who are the executives of Massachusetts Higher Education Consortium and what are their salaries?
The average compensation at Massachusetts Higher Education Consortium during 2023 was $68,917. There are 24 employees and 9 volunteers at Massachusetts Higher Education Consortium.
Here are 14 key members and their salaries:
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- Compensation: $169,622
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- Compensation: $114,936
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- Compensation: $170,468
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- Other: $27,735
- Compensation: $110,239
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- Other: $8,160
- Compensation: $108,347
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- Other: $16,632
- Compensation: $100,694
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- Other: $26,148
Official website here: www.mhec.net
Where can I find the form 990 for Massachusetts Higher Education Consortium?
Massachusetts Higher Education Consortium's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mhec.net
Learn more at the official website: www.mhec.net
Mission Statement of Massachusetts Higher Education Consortium
The Massachusetts Higher Education Consortium, a collective of nonprofit, public, and private educational institutions, libraries, municipalities, and educational nonprofits, is dedicated to a significant mission. Its primary objective is to establish group purchase agreements that benefit its members, thereby promoting efficient purchasing management. The consortium also collects and disseminates useful information, advising its member organizations on effective purchasing strategies.
In essence, the Massachusetts Higher Education Consortium serves as a collaborative platform for educational institutions within New England (including Maine, Vermont, New Hampshire, Massachusetts, Connecticut, and Rhode Island). Its membership is limited to non-profit public and private institutions of higher education, technical, charter, and vocational schools, libraries, municipalities, preparatory schools, and educational non-profit organizations located within the region. By pooling resources and knowledge, the consortium aims to foster cost-effective purchasing practices and facilitate the sharing of valuable information among its members.
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Impact
July, 2024
The Massachusetts Higher Education Consortium, through its group purchasing agreements and promotion of effective purchasing management, plays a crucial role in helping its approximately 2,645 members, which include public and private institutions of higher education, schools, libraries, municipalities, and educational organizations within New England, to save costs and streamline their procurement processes. By offering guidance and support in cooperative purchasing, the Consortium contributes to enhancing the efficiency and financial sustainability of its member organizations.
This information is meant to be a general summary of Massachusetts Higher Education Consortium. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $92,892
- Program Service Revenue: $3,903,751
- Gross Receipts: $8,218,098
Assets and Liabilities:
- Total Assets: $8,738,537
- Total Liabilities: $1,226,545
- Net Assets: $7,511,992
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT SERVICE FEES
Revenue
$3,552,186
EXPO
Revenue
$321,465
SUMMER EVENT
Revenue
$30,100
Organization Details
Founding Year
1977
Phone
(413) 230-3497Principal Officer
Michael Di Yeso
Main Address
100 UNIVERSITY DRIVE SUITE 1, AMHERST, MA, 01002
Website
www.mhec.netNTEE Category
Code: W02 - Public benefit
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