Civic Intelligence

The Nantucket Education Trust Inc

990 • Fiscal year 2015 • EIN 04-3165556

Jan 01, 2015 to Dec 31, 2015 • Filed on May 09, 2016

Organization ProfileNANTUCKETEDUCATIONTRUST.ORG
6C Cow Pond LaneNantucket, MA 02554

(508) 228-4422

Siviq Scores

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

Liabilities / Assets

89th percentile

0.92x

Higher debt load relative to assets than 89% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

7.26x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

83rd percentile

26%

Higher net margin than 83% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

35th percentile

-2.3%

Faster asset growth than 35% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

76th percentile

20%

Faster revenue growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$2,407,140

Down $56,195 (-2.3%) from 2014

Net Assets

Up

$201,582

Up $77,785 (+63%) from 2014

Liabilities

Down

$2,205,558

Down $133,980 (-5.7%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin83rd percentile

Revenue

Up

$303,990

Up $51,506 (+20%) from 2014

Expenses

Down

$226,205

Down $28,303 (-11%) from 2014

Net Income

Up

$77,785

Up $79,809 (+3943%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$3.0M$2.0M$1.0M$0Assets 2009: $2,794,614Liabilities 2009: $2,641,556Net Assets 2009: $153,0582009Assets 2010: $2,687,713Liabilities 2010: $2,564,909Net Assets 2010: $122,8042010Assets 2011: $2,622,132Liabilities 2011: $2,518,816Net Assets 2011: $103,3162011Assets 2012: $2,579,163Liabilities 2012: $2,459,287Net Assets 2012: $119,8762012Assets 2013: $2,502,494Liabilities 2013: $2,376,673Net Assets 2013: $125,8212013Assets 2014: $2,463,335Liabilities 2014: $2,339,538Net Assets 2014: $123,7972014Assets 2015: $2,407,140Liabilities 2015: $2,205,558Net Assets 2015: $201,5822015Assets 2016: $2,451,320Liabilities 2016: $2,121,277Net Assets 2016: $330,0432016Assets 2017: $2,411,299Liabilities 2017: $2,051,084Net Assets 2017: $360,2152017Assets 2018: $2,442,013Liabilities 2018: $1,949,058Net Assets 2018: $492,9552018Assets 2019: $2,546,158Liabilities 2019: $1,898,695Net Assets 2019: $647,4632019Assets 2020: $2,501,006Liabilities 2020: $1,793,417Net Assets 2020: $707,5892020Assets 2021: $2,511,615Liabilities 2021: $1,759,674Net Assets 2021: $751,9412021Assets 2022: $2,549,512Liabilities 2022: $1,725,189Net Assets 2022: $824,3232022Assets 2023: $2,632,062Liabilities 2023: $1,696,630Net Assets 2023: $935,4322023Assets 2024: $2,739,939Liabilities 2024: $1,668,287Net Assets 2024: $1,071,6522024Assets 2025: $2,861,400Liabilities 2025: $1,658,870Net Assets 2025: $1,202,5302025

Highlighted filing

2015

Assets$2,407,140
Liabilities$2,205,558
Net Assets$201,582
Open 2015 Filing

Operations Trend

Revenue Growth76th percentile

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

$600K$400K$200K$0-$200KRevenue 2009: $225,717Expenses 2009: $274,392Net Income 2009: -$48,6752009Revenue 2010: $211,040Expenses 2010: $241,294Net Income 2010: -$30,2542010Expenses 2011: $252,2472011Expenses 2012: $265,9592012Revenue 2013: $289,350Expenses 2013: $283,405Net Income 2013: $5,9452013Revenue 2014: $252,484Expenses 2014: $254,508Net Income 2014: -$2,0242014Revenue 2015: $303,990Expenses 2015: $226,205Net Income 2015: $77,7852015Revenue 2016: $353,307Expenses 2016: $224,846Net Income 2016: $128,4612016Revenue 2017: $268,209Expenses 2017: $238,037Net Income 2017: $30,1722017Revenue 2018: $388,103Expenses 2018: $255,363Net Income 2018: $132,7402018Revenue 2019: $373,726Expenses 2019: $219,218Net Income 2019: $154,5082019Revenue 2020: $309,902Expenses 2020: $249,776Net Income 2020: $60,1262020Revenue 2021: $314,329Expenses 2021: $269,977Net Income 2021: $44,3522021Revenue 2022: $327,629Expenses 2022: $222,005Net Income 2022: $105,6242022Revenue 2023: $309,647Expenses 2023: $248,492Net Income 2023: $61,1552023Revenue 2024: $344,695Expenses 2024: $237,331Net Income 2024: $107,3642024Revenue 2025: $431,776Expenses 2025: $307,304Net Income 2025: $124,4722025

Highlighted filing

2015

Revenue$303,990
Expenses$226,205
Net Income$77,785
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 9, 2016
Return Version
2015v2.1
Gross Receipts
$303,990
Mission and Program Overview

Mission

To generate private support for public education on nantucket, to foster private and public partnerships that benefit the children of nantucket public schools, and to honor excellence in teaching and learning.

Rooted in a community distinguished by its unique history and setting, nantucket education trust pursues the following goals: to enhance educational opportunities on nantucket by mobilizing private sector resources and expertise; foster alliances among business, community and school interests, and to serve as a catalyst for public and private partnerships that benefit education; promote the exchange of ideas among island schools and between our schools and those from other communities; support programs that honor excellence in teaching and learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,340,202$2,264,059▼ $76,143
Cash and Non-Interest-Bearing Accounts$122,832$141,797▲ $18,965
Accounts Receivable$301$1,284▲ $983
Total Assets$2,463,335$2,407,140▼ $56,195
Liabilities
Tax Exempt Bond Liabilities$1,888,652$1,817,548▼ $71,104
Mortgage Notes Payable Secured by Investment Property$373,947$359,258▼ $14,689
Deferred Revenue$30,728--
Escrow Account Liability-$21,727-
Accounts Payable and Accrued Expenses$46,211$7,025▼ $39,186
Total Liabilities$2,339,538$2,205,558▼ $133,980
Net Assets / Fund Balance
Unrestricted Net Assets$90,991$162,793▲ $71,802
Temporarily Rstr Net Assets$32,806$38,789▲ $5,983
Total Net Assets Fund Balance$123,797$201,582▲ $77,785
Total Liabilities and Net Assets / Fund Balance$2,463,335$2,407,140▼ $56,195

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,264,059$827,360$3,091,419
Equipment-$25,667$25,667
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Robert LiddlePresident
Michael CozortDirector
Virna GonzalezDirector
William FerrallDirector
Caitlin WaddingtonSecretary
Jana DuarteTreasurer
Pauline ProchVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$50,915
Program Service Revenue
$253,064
Investment Income
$11
Other Revenue
$0
All Other Contributions
$50,915
Change in Net Assets
$77,785

Audited Revenue Reconciliation

Revenue per Audited Statements
$303,990
Total Revenue per Audited Statements
$303,990
Total Revenue per Form 990
$303,990
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,579
Grants and Similar Amounts Paid$45,626
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$84,161$71-$84,232
Depreciation Depletion$76,144--$76,144
Grants to Domestic Orgs$45,626--$45,626
Fees for Services Management$12,525--$12,525
Insurance-$4,385-$4,385
Fees for Services Accounting-$3,000-$3,000
Other Expenses-$125-$125
Office Expenses-$28-$28
Total Functional Expenses$218,456$7,749$0$226,205

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$226,205
Total Expenses per Audited Statements$226,205
Total Expenses per Form 990$226,205
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nantucket Public School DistrictNantucket, MAGovEducation Support$31,721
Mass Insight EducationBoston, MA3Education Support$10,000
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance a2004-07-22$2,325,000PUBLIC SCHOOL HOUSING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$2,325,000---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization hired another not-for-profit organization to be its rental manager for the school housing project. Duties include executing leases, collecting rents, performing inspections, organizing repairs and maintenance and corresponding with tenants.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 reviewed by board members prior to filing”

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

“Annual statments are received from each member of the board. Any complaints are investigated by the chair of the board and referred to the attorney general if necessary.”

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. The are maintianed at the organizations office and are available on request. Financial statements and governing documents and tax returns are available to the public on the mass attorney generals web site.”

Filing and Contact Details

Filer

Filer Name
Nantucket Education Trust
EIN
04-3165556
Phone
5082284422
Address
6C COW POND LANE, NANTUCKET, MA 02554

Signing Officer

Name
Robert Liddle
Title
President
Phone
5082284422
Signed
2016-05-09

Organization Details

Principal Officer
Robert Liddle
Formed
1992
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Guyder Hurley Pc
Address
36 MILLER STILE RD, QUINCY, MA 02169-5423
Preparer
J Thomas Hurley
Phone
6173766226
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Rooted in a community distinguished by its unique history and setting, nantucket education trust pursues the following goals: to enhance educational opportunities on nantucket by mobilizing private sector resources and expertise; foster alliances among business, community and school interests, and to serve as a catalyst for public and private partnerships that benefit education; promote the exchange of ideas among island schools and between our schools and those from other communities; support programs that honor excellence in teaching and learning.”

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The escrow account liability on part x line 21 consists of tenant security deposits which are held in a separate bank account. The deposits are refunded to the tenant upon termination of the lease.”

Schedule D, Page 3, Part X

“The preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires the organization to report information regarding its exposure to various tax positions taken by the organization. The organization has determined whether any tax positions have met the recognition threshold and has measured the organization's exposure to those tax positions. Management believes that the organization has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest or penalties assessed to the organization are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE EDUCATIONAL PROGRAMS IN THE NANTUCKET PUBLIC SCHOOL SYSTEM INCLUDING PURCHASE OF EQUIPMENT, PAYMENT OF SALARIES & GRANTS FOR TEACHERS, SPONSORSHIP OF LECTURES, SEMINARS AND WORKSHOPS, AND PARTICIPATION IN THE SATELLITE PROGRAMS COOORINDATED BY THE SCHOOL.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt045626
IRS990/ProgSrvcAccomActy2Grp/GrantAmt045626
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IRS990/PYContributionsGrantsAmt011124
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt020
IRS990/PYOtherExpensesAmt0254508
IRS990/PYProgramServiceRevenueAmt0241340
IRS990/PYRevenuesLessExpensesAmt0-2024
IRS990/PYTotalExpensesAmt0254508
IRS990/PYTotalRevenueAmt0252484
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt077785
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0253064
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt010000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt04000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt014000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt050915
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt011124
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt052329
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt030620
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt027367
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0172355
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt011
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt020
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt031
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0253064
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0241340
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0237014
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0228280
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0205390
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01165088
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt031
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IRS990ScheduleA/PublicSupportCY509Pct00.98950
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt04000
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0303979
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0252464
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0289343
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0258900
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0232757
IRS990ScheduleA/Total509Grp/TotalAmt01337443
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0303990
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0252484
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0289343
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0258900
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0232757
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01337474
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/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02264059
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0827360
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03091419
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025667
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025667
IRS990ScheduleD/ExpensesSubtotalAmt0226205
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/RevenueSubtotalAmt0303990
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ESCROW ACCOUNT LIABILITY ON PART X LINE 21 CONSISTS OF TENANT SECURITY DEPOSITS WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANT UPON TERMINATION OF THE LEASE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02264059
IRS990ScheduleD/TotalExpensesPerForm990Amt0226205
IRS990ScheduleD/TotalRevenuePerForm990Amt0303990
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0303990
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0226205
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt031721
IRS990ScheduleI/RecipientTable/CashGrantAmt110000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/IRCSectionDesc13
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EDUCATION SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1EDUCATION SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NANTUCKET PUBLIC SCHOOL DISTRICT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MASS INSIGHT EDUCATION
IRS990ScheduleI/RecipientTable/RecipientEIN0046001236
IRS990ScheduleI/RecipientTable/RecipientEIN1043369687
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt010 SURFSIDE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt118 TREMONT STREET NO 1010
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NANTUCKET
IRS990ScheduleI/RecipientTable/USAddress/CityNm1BOSTON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002554
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd102108
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0INDIVIDUALS OR GROUPS RECEIVING GRANT FUNDS FILL OUT CHECK REQUEST WHICH IS PRESENTED TO THE BOARD FOR APPROVAL. SCHOLARSHIPS ARE APPROVED BY THE BOARD (MEMBERS INCLUDE SUPERINTENDENT/TEACHERS). FOR SMALLER GRANTS OF LESS THAN 2,000, GRANTEE IS NOT REQUIRED TO PROVIDE DOCUMENTATION TO PROVE WHAT FUNDS ARE SPENT ON. HOWEVER, FOR ANYTHING OVER 2,000, NANTUCKET EDUCATION TRUST REQUESTS INVOICES FROM GRANTEE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt02
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0true
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02004-07-22
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0043431814
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt02325000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0MASSACHUSETTS DEVELOPMENT FINANCE A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PUBLIC SCHOOL HOUSING
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt02325000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02005
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt02325000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROOTED IN A COMMUNITY DISTINGUISHED BY ITS UNIQUE HISTORY AND SETTING, NANTUCKET EDUCATION TRUST PURSUES THE FOLLOWING GOALS: TO ENHANCE EDUCATIONAL OPPORTUNITIES ON NANTUCKET BY MOBILIZING PRIVATE SECTOR RESOURCES AND EXPERTISE; FOSTER ALLIANCES AMONG BUSINESS, COMMUNITY AND SCHOOL INTERESTS, AND TO SERVE AS A CATALYST FOR PUBLIC AND PRIVATE PARTNERSHIPS THAT BENEFIT EDUCATION; PROMOTE THE EXCHANGE OF IDEAS AMONG ISLAND SCHOOLS AND BETWEEN OUR SCHOOLS AND THOSE FROM OTHER COMMUNITIES; SUPPORT PROGRAMS THAT HONOR EXCELLENCE IN TEACHING AND LEARNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HIRED ANOTHER NOT-FOR-PROFIT ORGANIZATION TO BE ITS RENTAL MANAGER FOR THE SCHOOL HOUSING PROJECT. DUTIES INCLUDE EXECUTING LEASES, COLLECTING RENTS, PERFORMING INSPECTIONS, ORGANIZING REPAIRS AND MAINTENANCE AND CORRESPONDING WITH TENANTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 REVIEWED BY BOARD MEMBERS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL STATMENTS ARE RECEIVED FROM EACH MEMBER OF THE BOARD. ANY COMPLAINTS ARE INVESTIGATED BY THE CHAIR OF THE BOARD AND REFERRED TO THE ATTORNEY GENERAL IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS , CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ARE MAINTIANED AT THE ORGANIZATIONS OFFICE AND ARE AVAILABLE ON REQUEST. FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AND TAX RETURNS ARE AVAILABLE TO THE PUBLIC ON THE MASS ATTORNEY GENERALS WEB SITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt01888652
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt01817548
IRS990/TaxExemptBondsInd0true
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt032806
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt038789
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02463335
IRS990/TotalAssetsEOYAmt02407140
IRS990/TotalAssetsGrp/BOYAmt02463335
IRS990/TotalAssetsGrp/EOYAmt02407140
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt050915
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07749
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0218456
IRS990/TotalFunctionalExpensesGrp/TotalAmt0226205
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02339538
IRS990/TotalLiabilitiesEOYAmt02205558
IRS990/TotalLiabilitiesGrp/BOYAmt02339538
IRS990/TotalLiabilitiesGrp/EOYAmt02205558
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0123797
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0201582
IRS990/TotalProgramServiceExpensesAmt0218456

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,407,140
Liabilities
$2,205,558
Net assets
$201,582
Revenue
$303,990
Expenses
$226,205
Net income
$77,785
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.86$1.66$1.20$0.43$0.31$0.12
2024Detailed filing. Detailed filing data is available for this year.$2.74$1.67$1.07$0.34$0.24$0.11
2023Detailed filing. Detailed filing data is available for this year.$2.63$1.70$0.94$0.31$0.25$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.55$1.73$0.82$0.33$0.22$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.51$1.76$0.75$0.31$0.27$0.04
2020Detailed filing. Detailed filing data is available for this year.$2.50$1.79$0.71$0.31$0.25$0.06
2019Detailed filing. Detailed filing data is available for this year.$2.55$1.90$0.65$0.37$0.22$0.15
2018Detailed filing. Detailed filing data is available for this year.$2.44$1.95$0.49$0.39$0.26$0.13
2017Detailed filing. Detailed filing data is available for this year.$2.41$2.05$0.36$0.27$0.24$0.03
2016Detailed filing. Detailed filing data is available for this year.$2.45$2.12$0.33$0.35$0.22$0.13
2015Detailed filing. Detailed filing data is available for this year.$2.41$2.21$0.20$0.30$0.23$0.08
2014Detailed filing. Detailed filing data is available for this year.$2.46$2.34$0.12$0.25$0.25$0.00
2013Detailed filing. Detailed filing data is available for this year.$2.50$2.38$0.13$0.29$0.28$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$2.46$0.12$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$2.52$0.10$0.25
2010Summary only. Only limited summary data is available for this year.$2.69$2.56$0.12$0.21$0.24$0.03
2009Summary only. Only limited summary data is available for this year.$2.79$2.64$0.15$0.23$0.27$0.05