Civic Intelligence

Independent University Alumni Association at Lowell Inc.

990 • Fiscal year 2015 • EIN 04-2052723

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 12, 2015

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

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

18th percentile

0.04x

Higher debt load relative to revenue than 18% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

76th percentile

16%

Higher net margin than 76% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

20th percentile

-4.9%

Faster asset growth than 20% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

59th percentile

6.7%

Faster revenue growth than 59% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Down

$7,922,131

Down $410,355 (-4.9%) from 2014

Net Assets

Down

$7,908,630

Down $412,266 (-5.0%) from 2014

Liabilities

Up

$13,501

Up $1,911 (+16%) from 2014

Revenue

Up

$353,837

Up $22,093 (+6.7%) from 2014

Expenses

Up

$296,713

Up $22,578 (+8.2%) from 2014

Net Income

Down

$57,124

Down $485 (-0.8%) from 2014

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

2015

Assets$7,922,131
Liabilities$13,501
Net Assets$7,908,630

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

2015

Revenue$353,837
Expenses$296,713
Net Income$57,124
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 12, 2015
Return Version
2014v5.0
Gross Receipts
$421,591
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$7,996,601$7,596,756▼ $399,845
Savings and Temporary Cash Investments$193,137$211,062▲ $17,925
Cash and Non-Interest-Bearing Accounts$140,159$110,119▼ $30,040
Prepaid Expenses and Deferred Charges$1,264$1,279▲ $15
Land, Buildings, and Equipment, Net$701$554▼ $147
Total Assets$8,332,486$7,922,131▼ $410,355
Other Assets Total$624$2,361▲ $1,737
Liabilities
Accounts Payable and Accrued Expenses$10,966$11,140▲ $174
Other Liabilities$624$2,361▲ $1,737
Total Liabilities$11,590$13,501▲ $1,911
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,190,865$5,859,853▼ $331,012
Unrestricted Net Assets$1,982,272$1,891,890▼ $90,382
Temporarily Rstr Net Assets$147,759$156,887▲ $9,128
Total Net Assets Fund Balance$8,320,896$7,908,630▼ $412,266
Total Liabilities and Net Assets / Fund Balance$8,332,486$7,922,131▼ $410,355

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$554$28,677$29,231

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$8,250,604$1,235▼ $211,545$-77,495$7,810,184
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
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$23,255
Program Service Revenue
$0
Investment Income
$257,844
Other Revenue
$72,738
All Other Contributions
$6,990
Change in Net Assets
$57,124
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$152,615
Other Expenses$86,267
Salaries, Compensation, and Employee Benefits$57,831
Total Fundraising Expense$1,975
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$136,400--$136,400
Other Salaries and Wages$33,657$5,610$801$40,068
Grants to Domestic Orgs$16,215--$16,215
All Other Expenses$7,351$2,203$416$9,970
Fees for Services Accounting$7,657$1,276$182$9,115
Other Employee Benefits$7,239$1,206$172$8,617
Pension Plan Contributions$4,974$829$118$5,921
Other Expenses$3,762$627$90$4,479
Payroll Taxes$2,708$452$65$3,225
Fees for Services Legal$1,629$271$39$1,939
Depreciation Depletion$138$8$1$147
Total Functional Expenses$274,770$19,968$1,975$296,713
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Massachusetts-lowellLowell, MA-Department Support$16,215
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$2,361
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

Filer Name
Independent University Alumni
EIN
04-2052723
Phone
9784546335
Address
PO BOX 242, LOWELL, MA 01853

Signing Officer

Name
Richard H Donaldson
Title
Treasurer
Phone
9784546335
Signed
2015-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Ann Kitrosser
Formed
1947
Legal Domicile
Ma
Voting Board Members
16
Independent Board Members
16
Employees
1
Volunteers
18

Preparer

Firm
Cain Bourret Jarry & Associates LLC
Address
1595 LAKEVIEW AVENUE, DRACUT, MA 01826
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 loss on investment stock portfolio 469,390

Raw XML AppendixShowing 400 of 518 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/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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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
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IRS990/OtherExpensesGrp/Desc3OFFICE SUPPLIES AND EXPEN
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IRS990/PrincipalOfficerNm0MARY ANN KITROSSER
IRS990/ProfessionalFundraisingInd0false
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/ProgSrvcAccomActy2Grp/RevenueAmt095993
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IRS990/PYExcessBenefitTransInd0false
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0211062
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ROYALTIES-USE OF MEMBERSHIP LIST 239,864
IRS990ScheduleA/Form990ScheduleAPartVIGrp/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/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART II, LINE 17B
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IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0-77495
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt08250604
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt014815
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt05700313

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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