Civic Intelligence

North Central Massachusetts Development Corp

990 • Fiscal year 2017 • EIN 04-2966372

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 16, 2018

860 South StreetFitchburg, MA 01420

(978) 353-7600

Siviq Scores

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

Liabilities / Assets

67th percentile

0.25x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.09x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

55th percentile

4.7%

Higher net margin than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

81st percentile

$139,125

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 31.8% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

68th percentile

10.0%

Faster asset growth than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

82nd percentile

35%

Faster revenue growth than 82% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$1,913,784

Up $173,538 (+10.0%) from 2016

Net Assets

Up

$1,439,291

Up $195,676 (+16%) from 2016

Liabilities

Down

$474,493

Down $22,138 (-4.5%) from 2016

Revenue

Up

$437,140

Up $112,455 (+35%) from 2016

Expenses

Down

$416,813

Down $179,879 (-30%) from 2016

Net Income

Up

$20,327

Up $292,334 (+107%) from 2016

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,399,827Liabilities 2010: $35,360Net Assets 2010: $1,364,4672010Assets 2011: $1,239,785Liabilities 2011: $50Net Assets 2011: $1,239,7352011Assets 2012: $1,183,930Liabilities 2012: $7,646Net Assets 2012: $1,176,2842012Assets 2013: $1,165,812Liabilities 2013: $21,853Net Assets 2013: $1,143,9592013Assets 2014: $1,193,507Liabilities 2014: $59,002Net Assets 2014: $1,134,5052014Assets 2015: $1,396,254Liabilities 2015: $222,232Net Assets 2015: $1,174,0222015Assets 2016: $1,740,246Liabilities 2016: $496,631Net Assets 2016: $1,243,6152016Assets 2017: $1,913,784Liabilities 2017: $474,493Net Assets 2017: $1,439,2912017Assets 2018: $2,170,554Liabilities 2018: $628,709Net Assets 2018: $1,541,8452018Assets 2019: $2,541,485Liabilities 2019: $713,005Net Assets 2019: $1,828,4802019Assets 2020: $3,393,831Liabilities 2020: $1,085,884Net Assets 2020: $2,307,9472020Assets 2021: $6,248,244Liabilities 2021: $1,137,791Net Assets 2021: $5,110,4532021Assets 2022: $7,059,159Liabilities 2022: $1,397,015Net Assets 2022: $5,662,1442022Assets 2023: $6,873,771Liabilities 2023: $845,375Net Assets 2023: $6,028,3962023Assets 2024: $6,778,854Liabilities 2024: $652,000Net Assets 2024: $6,126,8542024

Highlighted filing

2017

Assets$1,913,784
Liabilities$474,493
Net Assets$1,439,291

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $264,2202010Revenue 2011: $98,001Expenses 2011: $355,733Net Income 2011: -$257,7322011Expenses 2012: $479,9672012Revenue 2013: $188,003Expenses 2013: $498,964Net Income 2013: -$310,9612013Revenue 2014: $219,200Expenses 2014: $406,154Net Income 2014: -$186,9542014Revenue 2015: $266,157Expenses 2015: $516,640Net Income 2015: -$250,4832015Revenue 2016: $324,685Expenses 2016: $596,692Net Income 2016: -$272,0072016Revenue 2017: $437,140Expenses 2017: $416,813Net Income 2017: $20,3272017Revenue 2018: $358,062Expenses 2018: $521,508Net Income 2018: -$163,4462018Revenue 2019: $659,999Expenses 2019: $1,004,364Net Income 2019: -$344,3652019Revenue 2020: $1,040,476Expenses 2020: $1,771,410Net Income 2020: -$730,9342020Revenue 2021: $3,602,305Expenses 2021: $2,555,056Net Income 2021: $1,047,2492021Revenue 2022: $2,376,134Expenses 2022: $1,292,443Net Income 2022: $1,083,6912022Revenue 2023: $1,614,235Expenses 2023: $1,247,983Net Income 2023: $366,2522023Revenue 2024: $1,183,997Expenses 2024: $1,085,539Net Income 2024: $98,4582024

Highlighted filing

2017

Revenue$437,140
Expenses$416,813
Net Income$20,327
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 16, 2018
Return Version
2016v3.0
Gross Receipts
$437,140
Mission and Program Overview

Mission

To expand economic development in north central massachusetts by providing a variety of marketing and lending opportunities to small businesses in cooperation with various federal and state agencies

Expanding economic opportunity in central massachusetts

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$679,309$926,504▲ $247,195
Other Notes and Loans Receivable, Net$910,375$826,747▼ $83,628
Cash and Non-Interest-Bearing Accounts$131,919$121,382▼ $10,537
Accounts Receivable$7,851$32,059▲ $24,208
Intangible Assets$10,792$7,092▼ $3,700
Total Assets$1,740,246$1,913,784▲ $173,538
Liabilities
Mortgage Notes Payable Secured by Investment Property$465,443$427,106▼ $38,337
Accounts Payable and Accrued Expenses$31,188$43,725▲ $12,537
Other Liabilities$0$3,662▲ $3,662
Total Liabilities$496,631$474,493▼ $22,138
Net Assets / Fund Balance
Unrestricted Net Assets$1,006,362$853,586▼ $152,776
Temporarily Rstr Net Assets$237,253$585,705▲ $348,452
Total Net Assets Fund Balance$1,243,615$1,439,291▲ $195,676
Total Liabilities and Net Assets / Fund Balance$1,740,246$1,913,784▲ $173,538
Compensation and Service Providers

Employees

NameTitleOtherTotal
Roy NascimentoPresident, Treasruer$139,125$139,125

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$374,402
Program Service Revenue
$3,545
Investment Income
$59,193
Other Revenue
$0
All Other Contributions
$81,652
Change in Net Assets
$20,327

Audited Revenue Reconciliation

Revenue per Audited Statements
$437,140
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$437,140
Total Revenue per Form 990
$437,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$241,463
Grants and Similar Amounts Paid$175,350
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$175,350--$175,350
Occupancy$15,000$15,000-$30,000
Advertising$5,500$5,438-$10,938
Fees for Services Accounting$4,500$4,500-$9,000
Fees for Services Legal$3,732--$3,732
Depreciation Depletion-$3,700-$3,700
Conferences and Meetings$2,892--$2,892
Other Expenses$5,787$2,070-$2,070
All Other Expenses-$-19,371-$-19,371
Total Functional Expenses$367,922$48,891$0$416,813

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$416,813
Expenses per Audited Statements$241,463
Total Expenses per Audited Statements$241,463
Expenses Not Reported on Financial Statements$175,350
Other Expense Adjustments$175,350
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Little ExplorersTempleton, MA-To Provide Financial Assistance for Economic Development$39,950
Angel Salon & SpaLeominster, MA-To Provide Financial Assistance for Economic Developmentto Provide Financial$25,000
Rituals Salon & Spaleominster, MA-To Provide Financial Assistance for Economic Development$25,000
Steel Strength & NutritionWorcester, MA-To Provide Financial Assistance for Economic Development$20,000
Achias Transporatation IncLeominster, MA-To Provide Financial Assistance for Economic Development$18,000
Hailey's takeoutLeominster, MA-To Provide Financial Assistance for Economic Development$15,000
Worcester BakeryWorcester, MA-To Provide Financial Assistance for Economic Development$15,000
Orange GraphixOrange, MA-To Provide Financial Assistance for Economic Development$12,400
Genesis Coaching & ConsultingActon, MA-To Provide Financial Assistance for Economic Development$5,000
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 affiliate$3,662
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Part VI, Section B, line 11B

The 990 is completed by the cpa firm in conjunction with the executive director and director of finance who review the completed 990 prior to filing. The board is notified the 990 is complete and may obtain a copy upon request.

Form 990, Part VI, Section B, line 12C

A conflict of interest disclosure statement will be distributed to each director, officer and senior staff member prior to the september bod meeting each year. Completed forms are to be reviewed annually by the executive committee and appropriate action taken.

Form 990, Part VI, Section C, line 19

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

Filing and Contact Details

Filer

Filer Name
North Central Massachusetts
EIN
04-2966372
Phone
9783537600
Address
860 South Street, FITCHBURG, MA 01420

Signing Officer

Name
Roy Nascimento
Title
President
Phone
9783537600
Signed
2018-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roy Nascimento
Formed
1986
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Robert C Alario CPA Pc
Address
75 NORTH MAIN STREET, LEOMINSTER, MA 01453
Preparer
Robert C Alario
Phone
9785341999
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Grant allocations for form 990 purposes 175,350.

Financial Statement Notes

Part X, Line 2:

The Corporation has adopted accounting standards generally accepted in the United States of America relating to uncertain income tax positions which require management to perform an evaluation of all income tax positions taken or expected to be taken in the course of preparing the Corporation's income tax returns to determine whether the income tax positions meet a more likely than not standard of being sustained under examination by the applicable taxing authorities. This evaluation is required to be performed for all open tax years. The Corporation's open audit periods are 2014 - 2016. Management has performed its evaluation of all other income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the more likely than not standard. Accordingly, there are no provisions for income taxes, penalties or interest receivable or payable relating to uncertain income tax provisions in the accompanying financial statements.

Part XII, Line 4B - Other Adjustments:

Grant allocations reported for 990 purposes 175,350.

Raw XML AppendixShowing 400 of 553 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/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0596692
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0324685
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt020327
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0679309
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0926504
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0374401
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0244819
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0237705
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0137913
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0100372
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01095210
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt059192
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt072154
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt058452
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt079400
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt061484
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0330682
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt020462
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.76810
IRS990ScheduleA/PublicSupportPY170Pct00.70740
IRS990ScheduleA/PublicSupportTotal170Amt01095210
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0374401
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0244819
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0237705
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0137913
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0100372
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01095210
IRS990ScheduleA/TotalSupportAmt01425892
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/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0175350
IRS990ScheduleD/ExpensesSubtotalAmt0241463
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesNotIncludedAmt0175350
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03662
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to affiliate
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0437140
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation has adopted accounting standards generally accepted in the United States of America relating to uncertain income tax positions which require management to perform an evaluation of all income tax positions taken or expected to be taken in the course of preparing the Corporation's income tax returns to determine whether the income tax positions meet a more likely than not standard of being sustained under examination by the applicable taxing authorities. This evaluation is required to be performed for all open tax years. The Corporation's open audit periods are 2014 - 2016. Management has performed its evaluation of all other income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the more likely than not standard. Accordingly, there are no provisions for income taxes, penalties or interest receivable or payable relating to uncertain income tax provisions in the accompanying financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GRANT ALLOCATIONS REPORTED FOR 990 PURPOSES 175,350.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0416813
IRS990ScheduleD/TotalLiabilityAmt03662
IRS990ScheduleD/TotalRevenuePerForm990Amt0437140
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0437140
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0241463
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt039950
IRS990ScheduleI/RecipientTable/CashGrantAmt112400
IRS990ScheduleI/RecipientTable/CashGrantAmt218000
IRS990ScheduleI/RecipientTable/CashGrantAmt315000
IRS990ScheduleI/RecipientTable/CashGrantAmt45000
IRS990ScheduleI/RecipientTable/CashGrantAmt525000
IRS990ScheduleI/RecipientTable/CashGrantAmt625000
IRS990ScheduleI/RecipientTable/CashGrantAmt715000
IRS990ScheduleI/RecipientTable/CashGrantAmt820000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENTTO PROVIDE FINANCIAL
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8TO PROVIDE FINANCIAL ASSISTANCE FOR ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Little Explorers
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Orange Graphix
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Achias Transporatation Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Worcester Bakery
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Genesis Coaching & Consulting
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5Rituals Salon & Spa
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6Angel Salon & Spa
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7Hailey's takeout
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8Steel Strength & Nutrition
IRS990ScheduleI/RecipientTable/RecipientEIN0300962549
IRS990ScheduleI/RecipientTable/RecipientEIN1038586986
IRS990ScheduleI/RecipientTable/RecipientEIN2813941655
IRS990ScheduleI/RecipientTable/RecipientEIN3033728328
IRS990ScheduleI/RecipientTable/RecipientEIN4023648626
IRS990ScheduleI/RecipientTable/RecipientEIN5017606575
IRS990ScheduleI/RecipientTable/RecipientEIN6142685433
IRS990ScheduleI/RecipientTable/RecipientEIN7087865621
IRS990ScheduleI/RecipientTable/RecipientEIN8821045130
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01107 Patriots Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt190 New Athol Rd 3
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt261 Heritage Lane
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3118 Main Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4282 Central Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5646 Central Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6875 Merriam Ave Unit 125
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7301 Lancaster Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt8458 Park Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Templeton
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Orange
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Leominster
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Worcester
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Acton
IRS990ScheduleI/RecipientTable/USAddress/CityNm5leominster
IRS990ScheduleI/RecipientTable/USAddress/CityNm6Leominster
IRS990ScheduleI/RecipientTable/USAddress/CityNm7Leominster
IRS990ScheduleI/RecipientTable/USAddress/CityNm8Worcester
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd7MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd8MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd001468
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd101364
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd201453
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd310608
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd401720
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd501453
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd601453
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd701453
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd801610
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECEIVES APPLICATIONS FOR LOANS FOR ECONOMIC BUSINESS DEVELOPMENT. THESE APPLICATIONS GO THROUGH A REVIEW AND MONITORING PROCESS TO MAKE THE SELECTION OF RECIPIENTS FOR THESE LOANS. THE ORGANIZATION HAS A CHECKLIST FOR TO MAKE SURE THE LOANS MEET THE CRITERIA FOR THE GRANT FUNDS. THE LOANS ARE APPROVED BY A LOAN COMMITTEE AND THEN A VOTE IS MADE BY THE BOARD OF DIRECTORS TO GRANT OR DENY THE LOAN. FILES ARE KEEP ON EVERY LOAN APPLICATION RECEIVED AND ON THE LOANS GRANTED WITH ALL OF THE APPLICABLE INFORMATION REQUIRED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS COMPLETED BY THE CPA FIRM IN CONJUNCTION WITH THE EXECUTIVE DIRECTOR AND DIRECTOR OF FINANCE WHO REVIEW THE COMPLETED 990 PRIOR TO FILING. THE BOARD IS NOTIFIED THE 990 IS COMPLETE AND MAY OBTAIN A COPY UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A CONFLICT OF INTEREST DISCLOSURE STATEMENT WILL BE DISTRIBUTED TO EACH DIRECTOR, OFFICER AND SENIOR STAFF MEMBER PRIOR TO THE SEPTEMBER BOD MEETING EACH YEAR. COMPLETED FORMS ARE TO BE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE AND APPROPRIATE ACTION TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GRANT ALLOCATIONS FOR FORM 990 PURPOSES 175,350.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c

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.$6.78$0.65$6.13$1.18$1.09$0.10
2023Detailed filing. Detailed filing data is available for this year.$6.87$0.85$6.03$1.61$1.25$0.37
2022Detailed filing. Detailed filing data is available for this year.$7.06$1.40$5.66$2.38$1.29$1.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.25$1.14$5.11$3.60$2.56$1.05
2020Detailed filing. Detailed filing data is available for this year.$3.39$1.09$2.31$1.04$1.77$0.73
2019Detailed filing. Detailed filing data is available for this year.$2.54$0.71$1.83$0.66$1.00$0.34
2018Detailed filing. Detailed filing data is available for this year.$2.17$0.63$1.54$0.36$0.52$0.16
2017Detailed filing. Detailed filing data is available for this year.$1.91$0.47$1.44$0.44$0.42$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.74$0.50$1.24$0.32$0.60$0.27
2015Detailed filing. Detailed filing data is available for this year.$1.40$0.22$1.17$0.27$0.52$0.25
2014Detailed filing. Detailed filing data is available for this year.$1.19$0.06$1.13$0.22$0.41$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.02$1.14$0.19$0.50$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.01$1.18$0.48
2011Summary only. Only limited summary data is available for this year.$1.24$0.00$1.24$0.10$0.36$0.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.04$1.36$0.26