Civic Intelligence

Lawrence Family Development Inc

EIN 04-3177142 • 501(c)3 • Lawrence, MA

Profile

To strengthen individuals and families of lawrence, ma through the development of thriving neighborhoods by providing opportunity youth life skills and career training, adult education services, leased space and business management for a public charter school and turnaround provider for underperforming school districts.

355 Haverhill StreetLawrence, MA 01840

www.lawrenceprospera.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.79x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

0.78x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

16th percentile

-15%

Higher net margin than 16% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-13%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

51st percentile

7.4%

Faster revenue growth than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$7,095,054

Down $1,079,532 (-13%) from 2023

Liabilities

Down

$5,629,021

Down $111,486 (-1.9%) from 2023

Net Assets

Down

$1,466,033

Down $968,046 (-40%) from 2023

Revenue

Up

$7,173,968

Up $495,983 (+7.4%) from 2023

Expenses

Up

$8,272,530

Up $1,218,964 (+17%) from 2023

Net Income

Down

-$1,098,562

Down $722,981 (-192%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2011: $8,128,605Liabilities 2011: $6,141,208Net Assets 2011: $1,987,3972011Assets 2012: $7,981,569Liabilities 2012: $6,071,815Net Assets 2012: $1,909,7542012Assets 2013: $7,901,379Liabilities 2013: $5,833,254Net Assets 2013: $2,068,1252013Assets 2014: $7,646,760Liabilities 2014: $5,700,116Net Assets 2014: $1,946,6442014Assets 2015: $10,208,477Liabilities 2015: $6,844,274Net Assets 2015: $3,364,2032015Assets 2016: $10,763,916Liabilities 2016: $7,057,209Net Assets 2016: $3,706,7072016Assets 2017: $10,325,038Liabilities 2017: $6,869,497Net Assets 2017: $3,455,5412017Assets 2018: $9,570,737Liabilities 2018: $6,844,704Net Assets 2018: $2,726,0332018Assets 2019: $8,482,512Liabilities 2019: $6,600,239Net Assets 2019: $1,882,2732019Assets 2020: $8,710,042Liabilities 2020: $6,451,945Net Assets 2020: $2,258,0972020Assets 2021: $8,787,634Liabilities 2021: $5,922,923Net Assets 2021: $2,864,7112021Assets 2022: $8,889,416Liabilities 2022: $6,066,462Net Assets 2022: $2,822,9542022Assets 2023: $8,174,586Liabilities 2023: $5,740,507Net Assets 2023: $2,434,0792023Assets 2024: $7,095,054Liabilities 2024: $5,629,021Net Assets 2024: $1,466,0332024

Highlighted filing

2024

Assets$7,095,054
Liabilities$5,629,021
Net Assets$1,466,033

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2011: $2,379,4292011Expenses 2012: $1,989,2072012Revenue 2013: $2,319,873Expenses 2013: $2,161,502Net Income 2013: $158,3712013Revenue 2014: $2,450,180Expenses 2014: $2,571,661Net Income 2014: -$121,4812014Revenue 2015: $4,354,497Expenses 2015: $2,936,938Net Income 2015: $1,417,5592015Revenue 2016: $4,161,679Expenses 2016: $3,819,175Net Income 2016: $342,5042016Revenue 2017: $4,034,689Expenses 2017: $4,285,855Net Income 2017: -$251,1662017Revenue 2018: $4,080,850Expenses 2018: $4,810,358Net Income 2018: -$729,5082018Revenue 2019: $4,224,015Expenses 2019: $5,067,775Net Income 2019: -$843,7602019Revenue 2020: $4,761,681Expenses 2020: $4,881,898Net Income 2020: -$120,2172020Revenue 2021: $4,742,547Expenses 2021: $4,199,462Net Income 2021: $543,0852021Revenue 2022: $5,746,870Expenses 2022: $5,785,137Net Income 2022: -$38,2672022Revenue 2023: $6,677,985Expenses 2023: $7,053,566Net Income 2023: -$375,5812023Revenue 2024: $7,173,968Expenses 2024: $8,272,530Net Income 2024: -$1,098,5622024

Highlighted filing

2024

Revenue$7,173,968
Expenses$8,272,530
Net Income-$1,098,562

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.10$5.63$1.47$7.17$8.27$1.10
2023Detailed filing. Detailed filing data is available for this year.$8.17$5.74$2.43$6.68$7.05$0.38
2022Detailed filing. Detailed filing data is available for this year.$8.89$6.07$2.82$5.75$5.79$0.04
2021Detailed filing. Detailed filing data is available for this year.$8.79$5.92$2.86$4.74$4.20$0.54
2020Detailed filing. Detailed filing data is available for this year.$8.71$6.45$2.26$4.76$4.88$0.12
2019Detailed filing. Detailed filing data is available for this year.$8.48$6.60$1.88$4.22$5.07$0.84
2018Detailed filing. Detailed filing data is available for this year.$9.57$6.84$2.73$4.08$4.81$0.73
2017Summary only. Only limited summary data is available for this year.$10.3$6.87$3.46$4.03$4.29$0.25
2016Detailed filing. Detailed filing data is available for this year.$10.8$7.06$3.71$4.16$3.82$0.34
2015Detailed filing. Detailed filing data is available for this year.$10.2$6.84$3.36$4.35$2.94$1.42
2014Detailed filing. Detailed filing data is available for this year.$7.65$5.70$1.95$2.45$2.57$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.90$5.83$2.07$2.32$2.16$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.98$6.07$1.91$1.99
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.13$6.14$1.99$2.38
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 17, 2024
Return Version
2023v5.0
Gross Receipts
$7,662,707
Mission and Program Overview

Mission

To strengthen individuals and families of lawrence, ma through the development of thriving neighborhoods by providing opportunity youth life skills and career training, adult education services, leased space and business management for a public charter school and turnaround provider for underperforming school districts.

Lawrence prospera is committed to strengthening the individuals and families of lawrence through the development of thriving communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,083,158$4,528,015▼ $555,143
Investments in Publicly Traded Securities$1,058,167$1,118,946▲ $60,779
Accounts Receivable$832,596$815,488▼ $17,108
Other Notes and Loans Receivable, Net-$366,428-
Savings and Temporary Cash Investments$829,060$210,806▼ $618,254
Cash and Non-Interest-Bearing Accounts$329,119$17,818▼ $311,301
Prepaid Expenses and Deferred Charges$15,096$2,350▼ $12,746
Total Assets$8,174,586$7,095,054▼ $1,079,532
Other Assets Total$27,390$35,203▲ $7,813
Liabilities
Tax Exempt Bond Liabilities$5,484,798$5,317,280▼ $167,518
Accounts Payable and Accrued Expenses$217,298$264,120▲ $46,822
Deferred Revenue$11,021$32,337▲ $21,316
Other Liabilities$27,390$15,284▼ $12,106
Total Liabilities$5,740,507$5,629,021▼ $111,486
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,712,938$1,548,170▼ $164,768
Net Assets Without Donor Restrictions$721,141$-82,137▼ $803,278
Total Net Assets Fund Balance$2,434,079$1,466,033▼ $968,046
Total Liabilities and Net Assets / Fund Balance$8,174,586$7,095,054▼ $1,079,532

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$3,857,215$8,854,002$12,711,217
Land$670,800-$670,800

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,058,167-▲ $107,099-$1,118,946
2022$608,763$463,620▲ $11,096-$1,058,167
2021$570,041$14,855▲ $59,553-$608,763
2020-$502,188▲ $74,106-$570,041
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ralph CarreroExecutive DiPT-$255,319$255,319
Tony SchumannTech. DirectPT$117,030$7,750$124,780
Susan PerryFinance DirePT$115,983$1,351$117,334
Paul HeithausDirect. ProgPT$104,545$824$105,369

Board Members and Trustees

NameTitle
Jose JavierPresident
Carlos CedanosDirector
Dan MatlackDirector
Edison MercedesDirector
Gabriela TaverasDirector
Hector SantiagoDirector
Ramona AndricksonDirector
Ralph CarreroExecutive Director
John McelroyClerk
James KaramourtopoulosTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,273,247
Program Service Revenue
$3,168,018
Investment Income
$-22,407
Other Revenue
$1,755,110
All Other Contributions
$343,345
Change in Net Assets
$-1,098,562

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,163,327
Revenue Not Reported on Financial Statements
$10,641
Revenue Not Reported on Form 990
$130,516
Total Revenue per Audited Statements
$7,293,843
Total Revenue per Form 990
$7,173,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,403,932
Other Expenses$3,780,968
Grants and Similar Amounts Paid$87,630
Total Fundraising Expense$9,049
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,699,661$948,367-$3,648,028
Depreciation Depletion$579,810--$579,810
Payroll Taxes$235,552$168,303-$403,855
Fees for Services Other$293,525$42,353-$335,878
Occupancy$327,022--$327,022
Office Expenses$173,217$141,249$5,964$320,430
Other Employee Benefits$154,594$110,457-$265,051
Interest$189,940--$189,940
Other Expenses$175,465$10,722-$186,187
Grants to Domestic Orgs$87,630--$87,630
Pension Plan Contributions$50,742$36,256-$86,998
Insurance-$68,963-$68,963
All Other Expenses$46,531$7,426$3,085$57,042
Fees for Services Accounting-$19,348-$19,348
Fees for Service Investment Mgmnt Fees-$10,641-$10,641
Fees for Services Legal-$7,240-$7,240
Advertising$3,292--$3,292
Total Functional Expenses$6,682,140$1,581,341$9,049$8,272,530

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,272,530
Expenses per Audited Statements$8,261,889
Total Expenses per Audited Statements$8,261,889
Expenses Not Reported on Financial Statements$10,641
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Central Catholic High SchoolLawrence, MA-Scholarship$24,000
ST JOHN'S PREPARATORY SCHOOLDanvers, MA-Scholarship$20,750
Lowell Catholic High SchoolLowell, MA-Scholarship$11,500
The Academy at Penguin HallWehnham, MA-Scholarship$7,000
Pingree SchoolSouth Hamilton, MA-Scholarship$5,500
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
Right of Use Liability$15,284

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance a2015-06-29$6,500,000First real estate mortgage and assignment of lease and rents.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,990,663--$73,776

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
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
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 4

The corporation voted to increase the composition of board to a minimum of nine directors, no more than thirteen directors, and a quorum of fifty-one percent.

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

Draft copies of the form 990 are provided to the board of directors for review and approval prior to its filing. The directors make any necessary changes and approve the form before submission.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy and financial statements are available at the corporation's offices upon request. The financial statements are also available through the ma attorney general's division of public charities' office. Lha

Filing and Contact Details

Filer

Filer Name
Lawrence Family Development Inc
EIN
04-3177142
Phone
9782248808
Address
355 HAVERHILL STREET, LAWRENCE, MA 01840
Doing Business As
Lawrence Prospera

Signing Officer

Name
Jose Javier
Title
President
Phone
9782248808
Signed
2024-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jose Javier
Formed
1992
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
84
Volunteers
10

Preparer

Firm
Anstiss & Co Pc
Address
6 OMNI WAY STE 201, CHELMSFORD, MA 01824-4187
Preparer
Jayne a Andrews
Phone
9784522500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To strengthen individuals and families of lawrence, ma through the development of thriving neighborhoods by providing opportunity youth life skills and career training, adult education services, leased space and business management for a public charter school and turnaround provider for underperforming school districts.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Scholarships for secondary education for the related lawrence family development charter school graduates.

Schedule D, Page 3, Part X

The organization, incorporated under chapter 180 of the massachusetts general laws as a tax- exempt entity, has been granted tax-exempt status under the internal revenue code (irc section 501 (c)(3) and is classified as other than a private foundation as defined by section 509 (a) of the irc. Therefore, it is generally exempt from federal and state income taxes. Accordingly, no provision for income taxes is provided for in the accompanying financial statements. The corporation is required by asc 740- 10. "accounting for uncertainty in income taxes." to evaluate and disclose tax positions that could have an effect on the corporation's financial statements. The corporation reports its activities to the internal revenue service and the commonwealth of massachusetts on informational returns that are generally subject to audit and review by the governmental agencies for a period of three years after filing. Management believes it is no longer subject to review by taxing authorities for periods prior to 2021. Substantially all of the corporation's income, expenditures and activities relate to its exempt purpose. Therefore, management has determined that the corporation is not subject to unrelated business income taxes and will continue to qualify as a tax-exempt not-for-profit entity.

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