Civic Intelligence

Independent University Alumni Association at Lowell Inc.

990 • Fiscal year 2014 • EIN 04-2052723

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 23, 2014

PO Box 242Lowell, MA 01853

(978) 454-6335

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

17th percentile

0.03x

Higher debt load relative to revenue than 17% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

86th percentile

24%

Faster asset growth than 86% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

60th percentile

7.8%

Faster revenue growth than 60% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Assets

Up

$8,332,486

Up $1,601,666 (+24%) from 2013

Net Assets

Up

$8,320,896

Up $1,601,985 (+24%) from 2013

Liabilities

Down

$11,590

Down $319 (-2.7%) from 2013

Revenue

Up

$331,744

Up $23,883 (+7.8%) from 2013

Expenses

Up

$274,135

Up $34,640 (+14%) from 2013

Net Income

Down

$57,609

Down $10,757 (-16%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $5,739,468Liabilities 2011: $11,055Net Assets 2011: $5,728,4132011Assets 2012: $5,948,868Liabilities 2012: $13,565Net Assets 2012: $5,935,3032012Assets 2013: $6,730,820Liabilities 2013: $11,909Net Assets 2013: $6,718,9112013Assets 2014: $8,332,486Liabilities 2014: $11,590Net Assets 2014: $8,320,8962014Assets 2015: $7,922,131Liabilities 2015: $13,501Net Assets 2015: $7,908,6302015Assets 2016: $8,306,132Liabilities 2016: $13,316Net Assets 2016: $8,292,8162016Assets 2017: $9,133,498Liabilities 2017: $8,719Net Assets 2017: $9,124,7792017Assets 2018: $9,218,369Liabilities 2018: $7,750Net Assets 2018: $9,210,6192018Assets 2019: $9,669,905Liabilities 2019: $8,510Net Assets 2019: $9,661,3952019Assets 2020: $9,109,688Liabilities 2020: $6,741Net Assets 2020: $9,102,9472020Assets 2021: $11,591,378Liabilities 2021: $6,889Net Assets 2021: $11,584,4892021Assets 2022: $8,771,831Liabilities 2022: $46,758Net Assets 2022: $8,725,0732022Assets 2023: $9,120,997Liabilities 2023: $17,177Net Assets 2023: $9,103,8202023Assets 2024: $6,372,817Liabilities 2024: $1,710Net Assets 2024: $6,371,1072024

Highlighted filing

2014

Assets$8,332,486
Liabilities$11,590
Net Assets$8,320,896

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2011: $233,3672011Expenses 2012: $244,9502012Revenue 2013: $307,861Expenses 2013: $239,495Net Income 2013: $68,3662013Revenue 2014: $331,744Expenses 2014: $274,135Net Income 2014: $57,6092014Revenue 2015: $353,837Expenses 2015: $296,713Net Income 2015: $57,1242015Revenue 2016: $588,565Expenses 2016: $369,530Net Income 2016: $219,0352016Revenue 2017: $273,800Expenses 2017: $312,517Net Income 2017: -$38,7172017Revenue 2018: $249,544Expenses 2018: $264,310Net Income 2018: -$14,7662018Revenue 2019: $740,354Expenses 2019: $230,613Net Income 2019: $509,7412019Revenue 2020: $445,233Expenses 2020: $309,067Net Income 2020: $136,1662020Revenue 2021: $452,021Expenses 2021: $319,294Net Income 2021: $132,7272021Revenue 2022: $2,511,963Expenses 2022: $3,185,863Net Income 2022: -$673,9002022Revenue 2023: $284,157Expenses 2023: $328,589Net Income 2023: -$44,4322023Revenue 2024: $285,348Expenses 2024: $3,391,474Net Income 2024: -$3,106,1262024

Highlighted filing

2014

Revenue$331,744
Expenses$274,135
Net Income$57,609
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 23, 2014
Return Version
2013v3.1
Gross Receipts
$369,831
Mission and Program Overview

Mission

The alumni assocation was established to benefit the state university and assist the university in maintaining communication with former alumni and the student body. The organization's most significant activity is to provide college scholarships and grants to worthy and needy students. The association is also entrusted with the management of alumni's endowment funds, which have been contributed by former university alumni to assist in these ongoing efforts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,425,927$7,996,601▲ $1,570,674
Savings and Temporary Cash Investments$206,675$193,137▼ $13,538
Cash and Non-Interest-Bearing Accounts$95,508$140,159▲ $44,651
Prepaid Expenses and Deferred Charges$1,224$1,264▲ $40
Land, Buildings, and Equipment, Net$862$701▼ $161
Total Assets$6,730,820$8,332,486▲ $1,601,666
Other Assets Total$624$624→ $0
Liabilities
Accounts Payable and Accrued Expenses$11,285$10,966▼ $319
Other Liabilities$624$624→ $0
Total Liabilities$11,909$11,590▼ $319
Net Assets / Fund Balance
Permanently Rstr Net Assets$4,992,045$6,190,865▲ $1,198,820
Unrestricted Net Assets$1,587,966$1,982,272▲ $394,306
Temporarily Rstr Net Assets$138,900$147,759▲ $8,859
Total Net Assets Fund Balance$6,718,911$8,320,896▲ $1,601,985
Total Liabilities and Net Assets / Fund Balance$6,730,820$8,332,486▲ $1,601,666

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$701$28,530$29,231

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$6,633,466$6,635▲ $1,781,818$-40,500$8,250,604
2012$5,916,587$6,170▲ $937,243$-117,484$6,633,466
2011$5,700,313-▲ $410,842$-91,818$5,916,587
2010$4,221,082$14,815▲ $1,589,506$-34,906$5,700,313
2009$3,749,955$9,300▲ $604,105$-76,478$4,221,082
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$26,150
Program Service Revenue
$0
Investment Income
$237,441
Other Revenue
$68,153
All Other Contributions
$7,665
Change in Net Assets
$57,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$130,815
Other Expenses$85,948
Salaries, Compensation, and Employee Benefits$57,372
Total Fundraising Expense$1,783
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$112,250--$112,250
Other Salaries and Wages$33,714$5,619$803$40,136
Grants to Domestic Orgs$18,565--$18,565
All Other Expenses$9,668$1,506$192$11,366
Fees for Services Accounting$8,281$1,380$197$9,858
Other Employee Benefits$6,742$1,124$161$8,027
Pension Plan Contributions$4,965$828$118$5,911
Other Expenses$3,640$607$87$4,334
Payroll Taxes$2,770$462$66$3,298
Fees for Services Legal$2,184$364$52$2,600
Depreciation Depletion$152$8$1$161
Total Functional Expenses$253,386$18,966$1,783$274,135
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
04-6002284--Department Support$18,565
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Operating Fund$624
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy of the return is provided to the executive committee, which consists of the board president, vice president, treasurer and secretary for review and approval.

Form 990, Page 6, Part VI, Line 15B

Compensation for other key employees is determined by the board of directors based on current economic conditions, job description, length of service and employee evaluations.

Form 990, Page 6, Part VI, Line 19

The organization is open to the public 5 days a week and individuals desiring to obtain copies of the organization's documents are free to request them at this office. Also, the public can make a request through the organization's website.

Filing and Contact Details

Filer

EIN
04-2052723
Phone
9784546335

Signing Officer

Name
Richard H Donaldson
Title
Treasurer
Phone
9784546335
Signed
2014-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Ann Kitrosser
Formed
1947
Legal Domicile
Ma
Voting Board Members
18
Independent Board Members
18
Employees
1
Volunteers
18

Preparer

Preparer
Steven R Bourret
Phone
9789571421
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The alumni assocation was established to benefit the state university and assist the university in maintaining communication with former alumni and the student body. The organization's most significant activity is to provide college scholarships and grants to worthy and needy students. The association is also entrusted with the management of alumni's endowment funds, which have been contributed by former university alumni to assist in these ongoing efforts.

Form 990, Part XI, Line 9

Net unrealized gains on investment stock portfolio 1,544,376

Raw XML AppendixShowing 400 of 528 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE ALUMNI ASSOCATION WAS ESTABLISHED TO BENEFIT THE STATE UNIVERSITY AND ASSIST THE UNIVERSITY IN MAINTAINING COMMUNICATION WITH FORMER ALUMNI AND THE STUDENT BODY. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITY IS TO PROVIDE COLLEGE SCHOLARSHIPS AND GRANTS TO WORTHY AND NEEDY STUDENTS. THE ASSOCIATION IS ALSO ENTRUSTED WITH THE MANAGEMENT OF ALUMNI'S ENDOWMENT FUNDS, WHICH HAVE BEEN CONTRIBUTED BY FORMER UNIVERSITY ALUMNI TO ASSIST IN THESE ONGOING EFFORTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16NOMINATING C
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/MissionDesc0THE ALUMNI ASSOCATION WAS ESTABLISHED TO BENEFIT THE STATE UNIVERSITY AND ASSIST THE UNIVERSITY IN MAINTAINING COMMUNICATION WITH FORMER ALUMNI AND THE STUDENT BODY. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITY IS TO PROVIDE COLLEGE SCHOLARSHIPS AND GRANTS TO WORTHY AND NEEDY STUDENTS. THE ASSOCIATION IS ALSO ENTRUSTED WITH THE MANAGEMENT OF ALUMNI'S ENDOWMENT FUNDS, WHICH HAVE BEEN CONTRIBUTED BY FORMER UNIVERSITY ALUMNI TO ASSIST IN THESE ONGOING EFFORTS.
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IRS990/OtherExpensesGrp/Desc1SCHOLARSHIP BANQUET
IRS990/OtherExpensesGrp/Desc2OFFICE SUPPLIES AND EXPEN
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IRS990/PrincipalOfficerNm0MARY ANN KITROSSER
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IRS990/ProgSrvcAccomActy2Grp/Desc0THESE EXPENSES HELP THE ALUMNI ASSOCIATION MAINTAIN STAFFING AND COMMUNICATIONS BETWEEN UNIVERSITY FACULTY, ALUMNI AND THE CURRENT STUDENT POPULATION. THE ALUMNI STAFF COMMUNICATES WITH ALUMNI THROUGH NEWSLETTERS AND MAILING, ALONG WITH CONDUCTING VARIOUS SOCIAL EVENTS. THE ASSOCIATION ALSO PROVIDES SHORT TERM LOANS TO STUDENTS IN NEED.
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartIVGrp/ExplanationTxt0ROYALTIES-USE OF MEMBERSHIP LIST 317,476
IRS990ScheduleA/Form990ScheduleAPartIVGrp/ExplanationTxt1THE ORGANIZATION WAS ESTABLISHED IN 1947 TO SUPPORT THE OPERATIONS AND STUDENTS OF THE UNIVERSITY OF MASSACHUSETTS-LOWELL CAMPUS (FORMERLY LOWELL TECHNOLOGICAL INSTITUTE AND UNIVERSITY OF LOWELL). THE ORGANIZATION MANAGES ENDOWMENT FUNDS GENERALLY RECEIVED FROM FORMER FACULTY, STUDENTS AND BENEFACTORS OF THE UNIVERSITY. WITH THE EXCEPTION OF THE INTEREST AND DIVIDENDS EARNED ON THE ENDOWMENT FUNDS THE ORGANIZATION RECEIVES 100% OF ITS REVENUE FROM THE GENERAL PUBLIC OR FROM SOURCES DIRECTLY RELATED TO ITS CHARITABLE AND EXEMPT PURPOSE. THESE SOURCES OF REVENUE ARE FROM UNRELATED DONORS AND CONSIST OF THE ENTIRE GRADUATING CLASSES FROM 1947 TO THE PRESENT. THE GOVERNING BODY IS ELECTED BY THE CURRENT AND FORMER STUDENTS OF THE UNIVERSITY AND REPRESENT A DIVERSE BACKGROUND OF INDIVIDUALS FROM AROUND THE STATE AND COUNTRY. THE ORGANIZATION MAINTAINS DEFINITIVE PLANS ON ACCOMPLISHING ITS CHARITABLE WORK AND GOALS. ALL FORMER STUDENTS AND THE PUBLIC ARE INVITED AND WELCOME TO JOIN THE ORGANIZATION AND VOICE THEIR OPINIONS ON THE OPERATIONS OF THE ALUMNI ASSOCIATION. THE MEMBERSHIP FEE IS NOT MORE THAN 35 WHICH ENCOURAGES A BROAD CROSS SECTION OF THE INTERESTED PUBLIC TO JOIN. THE ONGOING ACTIVITY OF AWARDING SCHOLARSHIPS FOR AS MANY AS 100 STUDENTS EACH YEAR ATTRACTS ATTENTION AND COVERAGE BY THE LOCAL NEWS MEDIA. IN ADDITION, BASED ON THE FORMULA FOR DETERMINING PUBLIC SUPPORT, IT HAS ONLY BEEN IN RECENT YEARS THAT THE ORGANIZATION HAS FAILED THE 33 1/3% SUPPORT TEST. THE GOVERNING BOARD BELIEVES THIS IS DIRECTLY ATTRIBUTABLE TO THE DOWNTURN IN THE ECONOMY OVER THE LAST SEVERAL YEARS AND THEY FULLY EXPECT DONATIONS, GRANTS AND GIFTS TO REBOUND WHEN THE ECONOMY DOES.
IRS990ScheduleA/Form990ScheduleAPartIVGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/Form990ScheduleAPartIVGrp/FormAndLineReferenceDesc1PART II, LINE 17B
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0131570
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt06635
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.37$0.00$6.37$0.29$3.39$3.11
2023Detailed filing. Detailed filing data is available for this year.$9.12$0.02$9.10$0.28$0.33$0.04
2022Detailed filing. Detailed filing data is available for this year.$8.77$0.05$8.73$2.51$3.19$0.67
2021Detailed filing. Detailed filing data is available for this year.$11.6$0.01$11.6$0.45$0.32$0.13
2020Detailed filing. Detailed filing data is available for this year.$9.11$0.01$9.10$0.45$0.31$0.14
2019Detailed filing. Detailed filing data is available for this year.$9.67$0.01$9.66$0.74$0.23$0.51
2018Detailed filing. Detailed filing data is available for this year.$9.22$0.01$9.21$0.25$0.26$0.01
2017Detailed filing. Detailed filing data is available for this year.$9.13$0.01$9.12$0.27$0.31$0.04
2016Detailed filing. Detailed filing data is available for this year.$8.31$0.01$8.29$0.59$0.37$0.22
2015Detailed filing. Detailed filing data is available for this year.$7.92$0.01$7.91$0.35$0.30$0.06
2014Detailed filing. Detailed filing data is available for this year.$8.33$0.01$8.32$0.33$0.27$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.73$0.01$6.72$0.31$0.24$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.95$0.01$5.94$0.24
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.74$0.01$5.73$0.23