Civic Intelligence

Wellmet Project Inc.

990 • Fiscal year 2024 • EIN 04-2270072

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 15, 2024

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

79th percentile

0.37x

Higher debt load relative to assets than 79% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

0.91x

Higher debt load relative to revenue than 88% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

54th percentile

6.2%

Higher net margin than 54% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

76th percentile

$125,658

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

40th percentile

0.9%

Faster asset growth than 40% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

51st percentile

8.8%

Faster revenue growth than 51% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,052,649

Up $18,391 (+0.9%) from 2023

Net Assets

Up

$1,293,503

Up $52,151 (+4.2%) from 2023

Liabilities

Down

$759,146

Down $33,760 (-4.3%) from 2023

Revenue

Up

$836,221

Up $67,977 (+8.8%) from 2023

Expenses

Down

$784,070

Down $9,273 (-1.2%) from 2023

Net Income

Up

$52,151

Up $77,250 (+308%) from 2023

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

2024

Assets$2,052,649
Liabilities$759,146
Net Assets$1,293,503

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

2024

Revenue$836,221
Expenses$784,070
Net Income$52,151
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 15, 2024
Return Version
2023v5.1
Gross Receipts
$836,221
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$1,442,310$1,356,313▼ $85,997
Cash and Non-Interest-Bearing Accounts$193,261$325,021▲ $131,760
Investments in Publicly Traded Securities$55,904$58,747▲ $2,843
Prepaid Expenses and Deferred Charges$23,602$26,736▲ $3,134
Accounts Receivable$1,564$4,122▲ $2,558
Total Assets$2,034,258$2,052,649▲ $18,391
Other Assets Total$317,617$281,710▼ $35,907
Liabilities
Mortgage Notes Payable Secured by Investment Property$456,062$433,614▼ $22,448
Other Liabilities$310,958$278,152▼ $32,806
Deferred Revenue$24,536$37,133▲ $12,597
Accounts Payable and Accrued Expenses$1,350$10,247▲ $8,897
Total Liabilities$792,906$759,146▼ $33,760
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,241,352$1,293,503▲ $52,151
Total Net Assets Fund Balance$1,241,352$1,293,503▲ $52,151
Total Liabilities and Net Assets / Fund Balance$2,034,258$2,052,649▲ $18,391

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,002,639$1,410,421$2,413,060
Land$353,674-$353,674
Other Assets Org$270,939--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gurty Jean-DenisExecutive DirectorFT$105,783$19,875$125,658

Board Members and Trustees

NameTitle
Christopher MillerBoard Chair and Clerk
Andrew WoodPresident
Joan PicVice President
Andrew UptonDirector
Carlton RobinsonDirector
Cathy SesslerDirector
Erik WilliamsDirector
Lianna JoubertDirector
William BettDirector
Boris NikitinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$66,408
Program Service Revenue
$766,949
Investment Income
$2,864
Other Revenue
$0
All Other Contributions
$66,408
Change in Net Assets
$52,151

Audited Revenue Reconciliation

Revenue per Audited Statements
$836,221
Total Revenue per Audited Statements
$836,221
Total Revenue per Form 990
$836,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$475,983
Salaries, Compensation, and Employee Benefits$308,087
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$139,662$850-$140,512
Occupancy$91,074$41,231-$132,305
Current Officers, Directors, Trustees, and Key Employees$10,578$95,205-$105,783
Depreciation Depletion$80,340$5,659-$85,999
Insurance$26,592$17,001-$43,593
Other Employee Benefits$25,187$15,864-$41,051
Fees for Services Other$24,692$2,024-$26,716
Payroll Taxes$12,652$8,089-$20,741
Interest$14,958--$14,958
Fees for Services Accounting-$14,835-$14,835
Office Expenses-$6,853-$6,853
Travel$400$554-$954
Other Expenses$2,600$868-$868
Total Functional Expenses$573,375$210,695$0$784,070

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$784,070
Total Expenses per Audited Statements$784,070
Total Expenses per Form 990$784,070
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
Operating Lease Liability$278,152
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
2024-10-15
Discuss with paid preparer
No

Organization Details

Formed
1960
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
10
Employees
6

Preparer

Firm
Melissa Gilroy CPA
Address
80 Greenacre Rd, Westwood, MA 02090
Preparer
Melissa Gilroy
Phone
7816964019
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08089
IRS990/PayrollTaxesGrp/ProgramServicesAmt012652
IRS990/PayrollTaxesGrp/TotalAmt020741
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt023602
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt026736
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0Residential fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0766949
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0766949
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt053956
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01880
IRS990/PYOtherExpensesAmt0491414
IRS990/PYProgramServiceRevenueAmt0712408
IRS990/PYRevenuesLessExpensesAmt0-25099
IRS990/PYSalariesCompEmpBnftPaidAmt0301929
IRS990/PYTotalExpensesAmt0793343
IRS990/PYTotalRevenueAmt0768244
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt052151
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt066408
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt053956
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt056013
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt073252
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt060467
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0310096
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt02864
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01880
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt016
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01099
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01099
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt06958
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt0766949
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt0715963
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt0697832
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt0572724
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt0665215
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt03418683
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt02864
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01880
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt016
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01099
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01099
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06958
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99810
IRS990ScheduleA/PublicSupportPY509Pct00.99860
IRS990ScheduleA/PublicSupportTotal509Amt03728779
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0833357
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0769919
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0753845
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0645976
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0725682
IRS990ScheduleA/Total509Grp/TotalAmt03728779
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0836221
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0771799
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0753861
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0647075
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0726781
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03735737
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/BookValueAmt01002639
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01410421
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02413060
IRS990ScheduleD/ExpensesSubtotalAmt0784070
IRS990ScheduleD/LandGrp/BookValueAmt0353674
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0353674
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt010771
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1270939
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Operating lease - right of use asse
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0278152
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Operating Lease Liability
IRS990ScheduleD/RevenueSubtotalAmt0836221
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01356313
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0281710
IRS990ScheduleD/TotalExpensesPerForm990Amt0784070
IRS990ScheduleD/TotalLiabilityAmt0278152
IRS990ScheduleD/TotalRevenuePerForm990Amt0836221
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0836221
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0784070
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/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02034258
IRS990/TotalAssetsEOYAmt02052649
IRS990/TotalAssetsGrp/BOYAmt02034258
IRS990/TotalAssetsGrp/EOYAmt02052649
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt066408
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0210695
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0573375
IRS990/TotalFunctionalExpensesGrp/TotalAmt0784070
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0792906
IRS990/TotalLiabilitiesEOYAmt0759146
IRS990/TotalLiabilitiesGrp/BOYAmt0792906
IRS990/TotalLiabilitiesGrp/EOYAmt0759146
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01241352
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01293503
IRS990/TotalOtherCompensationAmt019875
IRS990/TotalProgramServiceExpensesAmt0573375
IRS990/TotalProgramServiceRevenueAmt0766949
IRS990/TotalReportableCompFromOrgAmt0105783
IRS990/TotalRevenueGrp/ExclusionAmt02864
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0766949

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