Civic Intelligence

Wellesley Abc Program Inc.

990 • Fiscal year 2020 • EIN 04-2503812

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 04, 2021

Organization ProfileWWW.WELLESLEYABC.ORG
396 Washington StreetWellesley, MA 02481

(781) 235-9789

Siviq Scores

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

Liabilities / Assets

61st percentile

0.19x

Higher debt load relative to assets than 61% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

0.90x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

93rd percentile

59%

Higher net margin than 93% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

85th percentile

47%

Faster asset growth than 85% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

8th percentile

-50%

Faster revenue growth than 8% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$1,607,273

Up $514,394 (+47%) from 2019

Net Assets

Up

$1,299,475

Up $211,771 (+19%) from 2019

Liabilities

Up

$307,798

Up $302,623 (+5848%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin93rd percentile

Revenue

Down

$342,860

Down $340,450 (-50%) from 2019

Expenses

Up

$140,342

Up $15,530 (+12%) from 2019

Net Income

Down

$202,518

Down $355,980 (-64%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $220,687Liabilities 2010: $2,748Net Assets 2010: $217,9392010Assets 2011: $279,439Liabilities 2011: $7,443Net Assets 2011: $271,9962011Assets 2012: $320,206Liabilities 2012: $13,201Net Assets 2012: $307,0052012Assets 2013: $368,231Liabilities 2013: $9,301Net Assets 2013: $358,9302013Assets 2014: $415,209Liabilities 2014: $10,108Net Assets 2014: $405,1012014Assets 2015: $439,252Liabilities 2015: $4,285Net Assets 2015: $434,9672015Assets 2016: $539,164Liabilities 2016: $4,137Net Assets 2016: $535,0272016Assets 2017: $560,040Liabilities 2017: $3,537Net Assets 2017: $556,5032017Assets 2018: $522,143Liabilities 2018: $3,587Net Assets 2018: $518,5562018Assets 2019: $1,092,879Liabilities 2019: $5,175Net Assets 2019: $1,087,7042019Assets 2020: $1,607,273Liabilities 2020: $307,798Net Assets 2020: $1,299,4752020Assets 2021: $1,601,400Liabilities 2021: $286,308Net Assets 2021: $1,315,0922021Assets 2022: $1,588,152Liabilities 2022: $275,017Net Assets 2022: $1,313,1352022Assets 2023: $1,563,137Liabilities 2023: $251,934Net Assets 2023: $1,311,2032023Assets 2024: $1,535,512Liabilities 2024: $256,586Net Assets 2024: $1,278,9262024

Highlighted filing

2020

Assets$1,607,273
Liabilities$307,798
Net Assets$1,299,475
Open 2020 Filing

Operations Trend

Revenue Growth8th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2010: $179,340Expenses 2010: $126,110Net Income 2010: $53,2302010Revenue 2011: $171,662Expenses 2011: $129,937Net Income 2011: $41,7252011Revenue 2012: $157,738Expenses 2012: $118,131Net Income 2012: $39,6072012Revenue 2013: $186,911Expenses 2013: $137,263Net Income 2013: $49,6482013Revenue 2014: $175,589Expenses 2014: $135,716Net Income 2014: $39,8732014Revenue 2015: $176,562Expenses 2015: $148,376Net Income 2015: $28,1862015Revenue 2016: $237,138Expenses 2016: $139,275Net Income 2016: $97,8632016Revenue 2017: $173,318Expenses 2017: $157,274Net Income 2017: $16,0442017Revenue 2018: $113,307Expenses 2018: $155,951Net Income 2018: -$42,6442018Revenue 2019: $683,310Expenses 2019: $124,812Net Income 2019: $558,4982019Revenue 2020: $342,860Expenses 2020: $140,342Net Income 2020: $202,5182020Revenue 2021: $218,154Expenses 2021: $203,386Net Income 2021: $14,7682021Revenue 2022: $168,275Expenses 2022: $169,695Net Income 2022: -$1,4202022Revenue 2023: $172,414Expenses 2023: $179,391Net Income 2023: -$6,9772023Revenue 2024: $142,057Expenses 2024: $175,900Net Income 2024: -$33,8432024

Highlighted filing

2020

Revenue$342,860
Expenses$140,342
Net Income$202,518
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 4, 2021
Return Version
2019v5.0
Gross Receipts
$342,860
Mission and Program Overview

Mission

Wellesley abc program, inc was formed in 1972 with its core mission to provide academically talented students from underserved communities with housing, academic support, and access to a rigorous college preparatory program at wellesley high school.

Wellesley abc program, inc. Was formed in 1972 with its core mission to provide academically talented students from underserved communities with housing, academic support, and access to a rigorous college preparatory program at wellesley high school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$63,428$1,290,682▲ $1,227,254
Savings and Temporary Cash Investments$558,554$250,433▼ $308,121
Cash and Non-Interest-Bearing Accounts$68,403$39,578▼ $28,825
Investments in Publicly Traded Securities$151,721$12,805▼ $138,916
Accounts Receivable$248,690$11,362▼ $237,328
Prepaid Expenses and Deferred Charges$2,083$2,413▲ $330
Total Assets$1,092,879$1,607,273▲ $514,394
Liabilities
Mortgage Notes Payable Secured by Investment Property-$298,215-
Other Liabilities-$7,829-
Accounts Payable and Accrued Expenses$5,175$1,754▼ $3,421
Total Liabilities$5,175$307,798▲ $302,623
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$551,694$1,289,160▲ $737,466
Net Assets With Donor Restrictions$536,010$10,315▼ $525,695
Total Net Assets Fund Balance$1,087,704$1,299,475▲ $211,771
Total Liabilities and Net Assets / Fund Balance$1,092,879$1,607,273▲ $514,394

Asset Categories

AssetBook ValueDepreciationBasis
Land$654,000-$654,000
Buildings$629,795$4,227$634,022
Other Land Buildings$5,745$30,449$36,194
Equipment$1,142$1,714$2,856

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$151,721-▲ $11,084$150,000$12,805
2018$137,648-▲ $14,073-$151,721
2017$80,562$50,000▲ $7,086-$137,648
2016$73,414-▲ $7,148-$80,562
2015$69,561-▲ $3,853-$73,414
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Ady BalogCo-president
Catherine WardCo-president
Christin GilloolyDirector
Colleen ConroyDirector
Debora WhiteDirector
Henri FoudaDirector
Jennifer GriffinDirector
Keiya MylesDirector
Rebecca GeorgeneseDirector
Shanelle WalkerDirector
Susan McgrawDirector
Terri SevillaDirector
Jenni ColoneSecretary
Shelley MchaleTreasurer
Allison AllenVice Preside
Michelle ChalmersVice Preside
Stephanie AllredVice Preside
Beth FalkVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$385,938
Program Service Revenue
$0
Investment Income
$10,199
Other Revenue
$-53,277
All Other Contributions
$385,938
Change in Net Assets
$202,518

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table28$39,822Fair Value
Total Noncash Contributions28$39,822-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$101,488
Salaries, Compensation, and Employee Benefits$38,854
Total Fundraising Expense$7,463
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$33,610--$33,610
Occupancy$25,106--$25,106
Depreciation Depletion$11,031--$11,031
Office Expenses-$3,817$6,095$9,912
Fees for Services Accounting-$8,368-$8,368
Information Technology-$4,450-$4,450
Payroll Taxes$3,105--$3,105
Other Employee Benefits$2,139--$2,139
Other Expenses$3,874-$1,368$1,368
Insurance-$772-$772
Total Functional Expenses$115,472$17,407$7,463$140,342
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
Refundable Advance - Ppp Loan$7,829
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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

“The form 990 is reviewed by all the board members at a full board meeting.”

Form 990, Page 6, Part VI, Line 12C

“The board of directors of the corporation shall work to ensure that all affiliated persons disclose in writing on a regular basis any known conflict of interest that may exist. In addition, an affiliated person must disclose the existence of any new conflict of interest in writing to a majority of disinterested board members as soon as reasonably possible. An”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Wellesley Abc Program Inc
EIN
04-2503812
Phone
7812359789
Address
396 WASHINGTON STREET, WELLESLEY, MA 02481

Signing Officer

Name
Shelley Mchale
Title
Treasurer
Phone
7812359789
Signed
2021-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shelley Mchale
Formed
1972
Legal Domicile
Ma
Voting Board Members
18
Independent Board Members
18
Employees
3
Volunteers
50

Preparer

Firm
Anstiss & Co Pc
Address
1115 WESTFORD STREET 3RD FLOOR, LOWELL, MA 01851-2701
Preparer
Richard B Dionne
Phone
9784522500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Wellesley abc program, inc. Was formed in 1972 with its core mission to provide academically talented students from underserved communities with housing, academic support, and access to a rigorous college preparatory program at wellesley high school.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Wellesley abc program, inc., has been granted tax-exempt status under internal revenue code section 501(c)(3) and are, therefore, generally exempt from federal and state income taxes. Accordingly, no provision for income taxes has been provided for in the accompanying financial statements. Asc 740-10, "income taxes" requires the organization to evaluate and disclose tax positions that could have an effect on the organizations financial statements. The organization reports its activities to the internal revenue service and to the commonwealth of massachusetts on an annual basis. These informational returns are generally subject to audit and review by the governmental agencies for a period of three years after filing. Substantially all of the organizations income, expenditures and activities relate to its exempt purpose, therefore, management has determined that the organization is not subject to unrelated business income taxes and will continue to qualify as tax-exempt not-for-profit entities.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCE - PPP LOAN
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WELLESLEY ABC PROGRAM, INC., HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND ARE, THEREFORE, GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED FOR IN THE ACCOMPANYING FINANCIAL STATEMENTS. ASC 740-10, "INCOME TAXES" REQUIRES THE ORGANIZATION TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON THE ORGANIZATIONS FINANCIAL STATEMENTS. THE ORGANIZATION REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE AND TO THE COMMONWEALTH OF MASSACHUSETTS ON AN ANNUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENERALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. SUBSTANTIALLY ALL OF THE ORGANIZATIONS INCOME, EXPENDITURES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS TAX-EXEMPT NOT-FOR-PROFIT ENTITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,607,273
Liabilities
$307,798
Net assets
$1,299,475
Revenue
$342,860
Expenses
$140,342
Net income
$202,518
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.54$0.26$1.28$0.14$0.18$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.56$0.25$1.31$0.17$0.18$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.59$0.28$1.31$0.17$0.17$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.60$0.29$1.32$0.22$0.20$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.61$0.31$1.30$0.34$0.14$0.20
2019Detailed filing. Detailed filing data is available for this year.$1.09$0.01$1.09$0.68$0.12$0.56
2018Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.11$0.16$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.56$0.00$0.56$0.17$0.16$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.54$0.00$0.54$0.24$0.14$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.43$0.18$0.15$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.42$0.01$0.41$0.18$0.14$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.01$0.36$0.19$0.14$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.01$0.31$0.16$0.12$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.01$0.27$0.17$0.13$0.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.00$0.22$0.18$0.13$0.05