Civic Intelligence

Wellmet Project Inc.

990 • Fiscal year 2021 • EIN 04-2270072

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 01, 2021

649 Massachusetts Ave Suite 6Cambridge, MA 02139

(617) 491-2377

Siviq Scores

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

Liabilities / Assets

75th percentile

0.30x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

85th percentile

0.83x

Higher debt load relative to revenue than 85% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

12th percentile

-17%

Higher net margin than 12% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

67th percentile

$94,660

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

12th percentile

-6.1%

Faster asset growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

19th percentile

-11%

Faster revenue growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$1,806,488

Down $116,521 (-6.1%) from 2020

Net Assets

Down

$1,271,643

Down $105,210 (-7.6%) from 2020

Liabilities

Down

$534,845

Down $11,311 (-2.1%) from 2020

Revenue

Down

$646,467

Down $80,314 (-11%) from 2020

Expenses

Down

$756,677

Down $14,959 (-1.9%) from 2020

Net Income

Down

-$110,210

Down $65,355 (-146%) from 2020

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $1,242,789Liabilities 2012: $7,976Net Assets 2012: $1,234,8132012Assets 2013: $1,278,262Liabilities 2013: $10,857Net Assets 2013: $1,267,4052013Assets 2014: $1,343,050Liabilities 2014: $8,632Net Assets 2014: $1,334,4182014Assets 2015: $1,330,697Liabilities 2015: $5,672Net Assets 2015: $1,325,0252015Assets 2016: $1,963,727Liabilities 2016: $598,189Net Assets 2016: $1,365,5382016Assets 2017: $1,976,656Liabilities 2017: $568,128Net Assets 2017: $1,408,5282017Assets 2018: $1,946,964Liabilities 2018: $551,609Net Assets 2018: $1,395,3552018Assets 2019: $1,955,171Liabilities 2019: $533,463Net Assets 2019: $1,421,7082019Assets 2020: $1,923,009Liabilities 2020: $546,156Net Assets 2020: $1,376,8532020Assets 2021: $1,806,488Liabilities 2021: $534,845Net Assets 2021: $1,271,6432021Assets 2022: $1,790,667Liabilities 2022: $524,216Net Assets 2022: $1,266,4512022Assets 2023: $2,034,258Liabilities 2023: $792,906Net Assets 2023: $1,241,3522023Assets 2024: $2,052,649Liabilities 2024: $759,146Net Assets 2024: $1,293,5032024Assets 2025: $1,997,827Liabilities 2025: $694,537Net Assets 2025: $1,303,2902025

Highlighted filing

2021

Assets$1,806,488
Liabilities$534,845
Net Assets$1,271,643

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2012: $552,762Expenses 2012: $533,068Net Income 2012: $19,6942012Revenue 2013: $547,062Expenses 2013: $531,620Net Income 2013: $15,4422013Revenue 2014: $601,833Expenses 2014: $565,223Net Income 2014: $36,6102014Revenue 2015: $573,197Expenses 2015: $590,749Net Income 2015: -$17,5522015Revenue 2016: $761,926Expenses 2016: $665,701Net Income 2016: $96,2252016Revenue 2017: $782,350Expenses 2017: $739,360Net Income 2017: $42,9902017Revenue 2018: $706,237Expenses 2018: $719,410Net Income 2018: -$13,1732018Revenue 2019: $800,094Expenses 2019: $773,741Net Income 2019: $26,3532019Revenue 2020: $726,781Expenses 2020: $771,636Net Income 2020: -$44,8552020Revenue 2021: $646,467Expenses 2021: $756,677Net Income 2021: -$110,2102021Revenue 2022: $753,911Expenses 2022: $759,103Net Income 2022: -$5,1922022Revenue 2023: $768,244Expenses 2023: $793,343Net Income 2023: -$25,0992023Revenue 2024: $836,221Expenses 2024: $784,070Net Income 2024: $52,1512024Revenue 2025: $891,057Expenses 2025: $881,270Net Income 2025: $9,7872025

Highlighted filing

2021

Revenue$646,467
Expenses$756,677
Net Income-$110,210
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 1, 2021
Return Version
2020v4.1
Gross Receipts
$646,467
Mission and Program Overview

Mission

To provide low cost housing and assistance to de-institutionalized psychiatric patients.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,574,958$1,518,786▼ $56,172
Cash and Non-Interest-Bearing Accounts$295,495$199,656▼ $95,839
Investments in Publicly Traded Securities-$53,993-
Prepaid Expenses and Deferred Charges$31,595$22,157▼ $9,438
Accounts Receivable$20,961$1,125▼ $19,836
Total Assets$1,923,009$1,806,488▼ $116,521
Other Assets Total-$10,771-
Liabilities
Mortgage Notes Payable Secured by Investment Property$516,842$498,844▼ $17,998
Deferred Revenue-$28,650-
Other Liabilities$23,500--
Accounts Payable and Accrued Expenses$5,814$7,351▲ $1,537
Total Liabilities$546,156$534,845▼ $11,311
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,376,853$1,271,643▼ $105,210
Total Net Assets Fund Balance$1,376,853$1,271,643▼ $105,210
Total Liabilities and Net Assets / Fund Balance$1,923,009$1,806,488▼ $116,521

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,165,112$1,141,885$2,306,997
Land$353,674-$353,674
Other Assets Org$10,771--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Gurty Jean-DenisExecutive DirectorFT$94,660$94,660

Board Members and Trustees

NameTitle
Andrew WoodPresident
Joan PicVice President
Andrew UptonDirector
Ashley AbesmraDirector
Boris NikitinDirector
Carlton RobinsonDirector
Cathy SesslerDirector
William BettDirector
Christopher MillerClerk
Erik WilliamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$73,252
Program Service Revenue
$572,724
Investment Income
$491
Other Revenue
$0
All Other Contributions
$52,227
Change in Net Assets
$-110,210

Audited Revenue Reconciliation

Revenue per Audited Statements
$646,467
Total Revenue per Audited Statements
$646,467
Total Revenue per Form 990
$646,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$452,603
Salaries, Compensation, and Employee Benefits$304,074
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$128,570$3,059-$131,629
Occupancy$86,276$42,226-$128,502
Current Officers, Directors, Trustees, and Key Employees$9,466$85,194-$94,660
Depreciation Depletion$80,340$3,542-$83,882
Other Employee Benefits$35,548$21,122-$56,670
Insurance$35,339$1,870-$37,209
Payroll Taxes$12,880$8,235-$21,115
Interest$19,482--$19,482
Fees for Services Other$18,110$1,261-$19,371
Fees for Services Accounting-$12,497-$12,497
Office Expenses-$6,654-$6,654
Travel$760$263-$1,023
Other Expenses$4,910$526-$526
Total Functional Expenses$567,088$189,589$0$756,677

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$756,677
Total Expenses per Audited Statements$756,677
Total Expenses per Form 990$756,677
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
No
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 governing body review Part VI line 11

The board President and Treasurer review the 990 and present it to the Board for approval.

CEO executive director top management comp Part VI line 15A

The Finance Committee obtains salaries from comparible positions within the local market.

Governing documents etc available to public Part VI line 19

The governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Wellmet Project Inc
EIN
04-2270072
Address
649 Massachusetts Ave Suite 6, Cambridge, MA 02139

Signing Officer

Name
Gurty Jean-Denis
Title
Executive Direc
Signed
2021-10-01
Discuss with paid preparer
No

Organization Details

Formed
1960
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
10
Employees
5

Preparer

Firm
Melissa Gilroy CPA
Address
80 Greenacre Rd, Westwood, MA 02090
Preparer
Melissa Gilroy
Phone
7816964019
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0572724
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt060467
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01099
IRS990/PYOtherExpensesAmt0489282
IRS990/PYProgramServiceRevenueAmt0665215
IRS990/PYRevenuesLessExpensesAmt0-44855
IRS990/PYSalariesCompEmpBnftPaidAmt0282354
IRS990/PYTotalExpensesAmt0771636
IRS990/PYTotalRevenueAmt0726781
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-110210
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt073252
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt060467
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt048655
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt040249
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt036677
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0259300
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01099
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01099
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01119
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0539
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0147
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt04003
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt0572724
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt0665215
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt0750320
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt0665449
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt0745492
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt03399200
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01099
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01099
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01119
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0539
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0147
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt04003
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99890
IRS990ScheduleA/PublicSupportPY509Pct00.99830
IRS990ScheduleA/PublicSupportTotal509Amt03658500
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0645976
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0725682
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0798975
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0705698
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0782169
IRS990ScheduleA/Total509Grp/TotalAmt03658500
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0647075
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0726781
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0800094
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0706237
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0782316
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03662503
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01165112
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01141885
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02306997
IRS990ScheduleD/ExpensesSubtotalAmt0756677
IRS990ScheduleD/LandGrp/BookValueAmt0353674
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0353674
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt010771
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/RevenueSubtotalAmt0646467
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01518786
IRS990ScheduleD/TotalBookValueOtherAssetsAmt010771
IRS990ScheduleD/TotalExpensesPerForm990Amt0756677
IRS990ScheduleD/TotalRevenuePerForm990Amt0646467
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0646467
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0756677
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board President and Treasurer review the 990 and present it to the Board for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Finance Committee obtains salaries from comparible positions within the local market.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01923009
IRS990/TotalAssetsEOYAmt01806488
IRS990/TotalAssetsGrp/BOYAmt01923009
IRS990/TotalAssetsGrp/EOYAmt01806488
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt073252
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0189589
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0567088
IRS990/TotalFunctionalExpensesGrp/TotalAmt0756677
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0546156
IRS990/TotalLiabilitiesEOYAmt0534845
IRS990/TotalLiabilitiesGrp/BOYAmt0546156
IRS990/TotalLiabilitiesGrp/EOYAmt0534845
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01376853
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01271643
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0567088
IRS990/TotalProgramServiceRevenueAmt0572724
IRS990/TotalReportableCompFromOrgAmt094660
IRS990/TotalRevenueGrp/ExclusionAmt0491
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0572724
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0646467
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01923009
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01806488
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0263
IRS990/TravelGrp/ProgramServicesAmt0760
IRS990/TravelGrp/TotalAmt01023
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.00$0.69$1.30$0.89$0.88$0.01
2024Detailed filing. Detailed filing data is available for this year.$2.05$0.76$1.29$0.84$0.78$0.05
2023Detailed filing. Detailed filing data is available for this year.$2.03$0.79$1.24$0.77$0.79$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.79$0.52$1.27$0.75$0.76$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.81$0.53$1.27$0.65$0.76$0.11
2020Summary only. Only limited summary data is available for this year.$1.92$0.55$1.38$0.73$0.77$0.04
2019Summary only. Only limited summary data is available for this year.$1.96$0.53$1.42$0.80$0.77$0.03
2018Summary only. Only limited summary data is available for this year.$1.95$0.55$1.40$0.71$0.72$0.01
2017Summary only. Only limited summary data is available for this year.$1.98$0.57$1.41$0.78$0.74$0.04
2016Summary only. Only limited summary data is available for this year.$1.96$0.60$1.37$0.76$0.67$0.10
2015Summary only. Only limited summary data is available for this year.$1.33$0.01$1.33$0.57$0.59$0.02
2014Summary only. Only limited summary data is available for this year.$1.34$0.01$1.33$0.60$0.57$0.04
2013Summary only. Only limited summary data is available for this year.$1.28$0.01$1.27$0.55$0.53$0.02
2012Summary only. Only limited summary data is available for this year.$1.24$0.01$1.23$0.55$0.53$0.02