Civic Intelligence

Wellesley Abc Program Inc.

990 • Fiscal year 2023 • EIN 04-2503812

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 07, 2024

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

(781) 235-9789

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$1,563,137

Down $25,015 (-1.6%) from 2022

Net Assets

Down

$1,311,203

Down $1,932 (-0.1%) from 2022

Liabilities

Down

$251,934

Down $23,083 (-8.4%) from 2022

Revenue And Expenses

Revenue

Up

$172,414

Up $4,139 (+2.5%) from 2022

Expenses

Up

$179,391

Up $9,696 (+5.7%) from 2022

Net Income

Down

-$6,977

Down $5,557 (-391%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$1,563,137
Liabilities$251,934
Net Assets$1,311,203
Open 2023 Filing

Operations Trend

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

2023

Revenue$172,414
Expenses$179,391
Net Income-$6,977
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 7, 2024
Return Version
2022v5.0
Gross Receipts
$184,931
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$1,254,996$1,247,001▼ $7,995
Savings and Temporary Cash Investments$265,815$239,678▼ $26,137
Cash and Non-Interest-Bearing Accounts$44,090$52,530▲ $8,440
Investments in Publicly Traded Securities$18,461$19,184▲ $723
Prepaid Expenses and Deferred Charges$4,668$4,744▲ $76
Accounts Receivable$122--
Total Assets$1,588,152$1,563,137▼ $25,015
Liabilities
Mortgage Notes Payable Secured by Investment Property$265,322$246,642▼ $18,680
Accounts Payable and Accrued Expenses$9,695$5,292▼ $4,403
Total Liabilities$275,017$251,934▼ $23,083
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,294,866$1,294,764▼ $102
Net Assets With Donor Restrictions$18,269$16,439▼ $1,830
Total Net Assets Fund Balance$1,313,135$1,311,203▼ $1,932
Total Liabilities and Net Assets / Fund Balance$1,588,152$1,563,137▼ $25,015

Asset Categories

AssetBook ValueDepreciationBasis
Land$654,000-$654,000
Buildings$579,073$54,949$634,022
Other Land Buildings$13,928$30,824$44,752

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$18,461-▲ $723-$19,184
2021$19,702$296▼ $1,537-$18,461
2020$12,508$6,035▲ $862-$19,702
2019$151,721-▲ $11,084$150,000$12,805
2018$137,648-▲ $14,073-$151,721
Compensation and Service Providers

Board Members and Trustees

NameTitle
Catherine WardPresident
Ady BalogDirector
Andra D JohnsonDirector
Becky GerogeneseDirector
Beth PerkinsDirector
Dana ChaffeeDirector
Deb BarnettDirector
Debora WhiteDirector
Heather GarniDirector
JE'LESIA JONESDirector
Jackie KatzDirector
Jennifer GriffinDirector
Keiya MylesDirector
Molly ShivelyDirector
Shari JohnsonDirector
Terri SevillaDirector
Sara RavaretSecretary
Shelley MchaleTreasurer
Beth FalkVice Preside
Stephanie AllredVice Preside
Wendy BedrosianVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$172,565
Program Service Revenue
$0
Investment Income
$384
Other Revenue
$-535
All Other Contributions
$115,725
Change in Net Assets
$-6,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$147,398
Salaries, Compensation, and Employee Benefits$31,993
Total Fundraising Expense$9,413
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$29,990--$29,990
Other Salaries and Wages$29,325--$29,325
Depreciation Depletion$19,095--$19,095
Fees for Services Accounting-$12,405-$12,405
Interest$9,938--$9,938
Information Technology-$6,561-$6,561
Other Expenses$13,074-$5,548$5,548
Office Expenses-$2,769$1,939$4,708
All Other Expenses--$1,926$1,926
Payroll Taxes$1,799--$1,799
Other Employee Benefits$869--$869
Insurance-$846-$846
Total Functional Expenses$147,397$22,581$9,413$179,391
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$12,495
Fundraising Gross Income$11,960
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Fundrais$59,450$11,960$1,703$10,257
Total Events$59,450$11,960$11,824$136
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
2024-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shelley Mchale
Formed
1972
Legal Domicile
Ma
Voting Board Members
21
Independent Board Members
21
Employees
3
Volunteers
50

Preparer

Firm
Anstiss & Co Pc
Address
6 OMNI WAY STE 201, CHELMSFORD, MA 01824-4187
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 organization's 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 organization's 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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IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0WELLESLEY 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.
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IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt01799
IRS990/PayrollTaxesGrp/TotalAmt01799
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04668
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04744
IRS990/PrincipalOfficerNm0SHELLEY MCHALE
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IRS990/PYExcessBenefitTransInd0false
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0265815
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0239678
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME -53,277
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0385938
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0296
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt018461

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,563,137
Liabilities
$251,934
Net assets
$1,311,203
Revenue
$172,414
Expenses
$179,391
Net income
-$6,977
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