Civic Intelligence

Merrimack Valley Economic Development Corporation

990 • Fiscal year 2020 • EIN 04-3210262

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 28, 2020

Organization Profile
160 Main StreetHaverhill, MA 01830-5000

(978) 374-0519

Siviq Scores

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

Liabilities / Assets

59th percentile

0.06x

Higher debt load relative to assets than 59% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

1.47x

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

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Net Margin

36th percentile

1.1%

Higher net margin than 36% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

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

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Asset Growth

39th percentile

0.3%

Faster asset growth than 39% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

71st percentile

8.7%

Faster revenue growth than 71% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$727,861

Up $1,855 (+0.3%) from 2019

Net Assets

Up

$684,301

Up $335 (+0.0%) from 2019

Liabilities

Up

$43,560

Up $1,520 (+3.6%) from 2019

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin36th percentile

Revenue

Up

$29,690

Up $2,387 (+8.7%) from 2019

Expenses

Up

$29,355

Up $2,554 (+9.5%) from 2019

Net Income

Down

$335

Down $167 (-33%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$1.0M$500K$0Assets 2011: $716,080Liabilities 2011: $37,704Net Assets 2011: $678,3762011Assets 2012: $679,239Liabilities 2012: $522Net Assets 2012: $678,7172012Assets 2013: $699,672Liabilities 2013: $20,587Net Assets 2013: $679,0852013Assets 2014: $705,296Liabilities 2014: $25,597Net Assets 2014: $679,6992014Assets 2015: $702,320Liabilities 2015: $21,745Net Assets 2015: $680,5752015Assets 2016: $710,652Liabilities 2016: $29,111Net Assets 2016: $681,5412016Assets 2017: $731,592Liabilities 2017: $49,086Net Assets 2017: $682,5062017Assets 2018: $724,224Liabilities 2018: $40,760Net Assets 2018: $683,4642018Assets 2019: $726,006Liabilities 2019: $42,040Net Assets 2019: $683,9662019Assets 2020: $727,861Liabilities 2020: $43,560Net Assets 2020: $684,3012020Assets 2021: $702,990Liabilities 2021: $19,619Net Assets 2021: $683,3712021Assets 2022: $787,318Liabilities 2022: $103,337Net Assets 2022: $683,9812022Assets 2023: $760,248Liabilities 2023: $74,401Net Assets 2023: $685,8472023Assets 2024: $857,040Liabilities 2024: $72,519Net Assets 2024: $784,5212024Assets 2025: $909,568Liabilities 2025: $124,444Net Assets 2025: $785,1242025

Highlighted filing

2020

Assets$727,861
Liabilities$43,560
Net Assets$684,301
Open 2020 Filing

Operations Trend

Revenue Growth71st percentile

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

$200K$150K$100K$50K$0-$50KRevenue 2011: $34,381Expenses 2011: $33,148Net Income 2011: $1,2332011Revenue 2012: $28,770Expenses 2012: $28,429Net Income 2012: $3412012Revenue 2013: $27,810Expenses 2013: $27,442Net Income 2013: $3682013Revenue 2014: $27,562Expenses 2014: $26,948Net Income 2014: $6142014Revenue 2015: $21,107Expenses 2015: $20,231Net Income 2015: $8762015Revenue 2016: $28,123Expenses 2016: $27,157Net Income 2016: $9662016Revenue 2017: $42,899Expenses 2017: $41,934Net Income 2017: $9652017Revenue 2018: $33,052Expenses 2018: $32,094Net Income 2018: $9582018Revenue 2019: $27,303Expenses 2019: $26,801Net Income 2019: $5022019Revenue 2020: $29,690Expenses 2020: $29,355Net Income 2020: $3352020Revenue 2021: $24,044Expenses 2021: $24,974Net Income 2021: -$9302021Revenue 2022: $129,954Expenses 2022: $129,344Net Income 2022: $6102022Revenue 2023: $136,514Expenses 2023: $134,648Net Income 2023: $1,8662023Revenue 2024: $149,889Expenses 2024: $51,215Net Income 2024: $98,6742024Revenue 2025: $151,853Expenses 2025: $151,250Net Income 2025: $6032025

Highlighted filing

2020

Revenue$29,690
Expenses$29,355
Net Income$335
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 28, 2020
Return Version
2019v5.0
Gross Receipts
$32,033
Mission and Program Overview

Mission

Encourage regional economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$490,140$549,320▲ $59,180
Cash and Non-Interest-Bearing Accounts$224,183$166,096▼ $58,087
Land, Buildings, and Equipment, Net$11,598$12,275▲ $677
Prepaid Expenses and Deferred Charges$85$170▲ $85
Total Assets$726,006$727,861▲ $1,855
Liabilities
Other Liabilities$42,040$43,560▲ $1,520
Total Liabilities$42,040$43,560▲ $1,520
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$683,966$684,301▲ $335
Total Net Assets Fund Balance$683,966$684,301▲ $335
Total Liabilities and Net Assets / Fund Balance$726,006$727,861▲ $1,855

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,275$17,837$30,112
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
James BarnesPresident
April DerboghosianDirector
Brad BuschurDirector
Brian MurpheyDirector
John CashellDirector
John ThomasDirector
Lisa SchwarzDirector
Lou MasielloDirector
Martha TaylorDirector
Pedro SotoDirector
Rebecca OldhamDirector
Richard ByersDirector
Rick TaintorDirector
Theresa ParkDirector
Robert LaplanteSecretary
Kathleen ColwellTreasurer
Robert SnowTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$28,300
Investment Income
$0
Other Revenue
$1,390
Change in Net Assets
$335
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,355
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$1,664$35-$35
All Other Expenses-$21-$21
Total Functional Expenses$28,299$1,056$0$29,355
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$31,556
Deferred Revenue$12,004
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

“Officers review before filing”

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

“If the governing body has reasonable cause to believe that a member has failed to disclose an actual or possible conflict of interest it will advise the member and the memeber has the opportunity to explain the allged failure to disclose. If the body determines that the member has failed to disclose an actual or possbile conflict of interest it will take appropriate disciplinary and corrective action which could include termination of membership.”

Form 990, Page 6, Part VI, Line 19

“Form 990 is avaialble upon request”

Filing and Contact Details

Filer

Filer Name
Merrimack Valley Economic
EIN
04-3210262
Phone
9783740519
Address
160 MAIN STREET, HAVERHILL, MA 01830-5000

Signing Officer

Name
James Barnes
Title
President
Phone
9783740519
Signed
2020-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Barnes
Formed
1993
Legal Domicile
Ma
Voting Board Members
17
Independent Board Members
17
Employees
0

Preparer

Firm
Roland P Lambalot Pc
Address
184 PLEASANT VALLEY ST 205, METHUEN, MA 01844-5855
Preparer
Roland Lambalot
Phone
9786910050
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt028300
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt012275
IRS990ScheduleD/BuildingsGrp/DepreciationAmt017837
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt030112
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt031556
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt112004
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED REVENUE
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IRS990ScheduleD/TotalLiabilityAmt043560
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICERS REVIEW BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IF THE GOVERNING BODY HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST IT WILL ADVISE THE MEMBER AND THE MEMEBER HAS THE OPPORTUNITY TO EXPLAIN THE ALLGED FAILURE TO DISCLOSE. IF THE BODY DETERMINES THAT THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSBILE CONFLICT OF INTEREST IT WILL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WHICH COULD INCLUDE TERMINATION OF MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS AVAIALBLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0true
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0727861
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IRS990/TotalAssetsGrp/EOYAmt0727861
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01056
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt028299
IRS990/TotalFunctionalExpensesGrp/TotalAmt029355
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt042040
IRS990/TotalLiabilitiesEOYAmt043560
IRS990/TotalLiabilitiesGrp/BOYAmt042040
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IRS990/TotalProgramServiceRevenueAmt028300
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt029690
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0727861
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/ZIPCd001921
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IRS990/VotingMembersIndependentCnt017
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES BARNES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09783740519
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MERRIMACK VALLEY ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MERR
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ReturnHeader/Filer/PhoneNum09783740519
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt073.234.34.42
ReturnHeader/FilingSecurityInformation/IPDt02020-11-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm012:42:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043233496
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROLAND P LAMBALOT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0184 PLEASANT VALLEY ST 205
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0METHUEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0018445855
ReturnHeader/PreparerPersonGrp/PhoneNum09786910050

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$727,861
Liabilities
$43,560
Net assets
$684,301
Revenue
$29,690
Expenses
$29,355
Net income
$335
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.10$1.24$7.85$1.52$1.51$0.01
2024Detailed filing. Detailed filing data is available for this year.$8.57$0.73$7.85$1.50$0.51$0.99
2023Detailed filing. Detailed filing data is available for this year.$7.60$0.74$6.86$1.37$1.35$0.02
2022Detailed filing. Detailed filing data is available for this year.$7.87$1.03$6.84$1.30$1.29$0.01
2021Detailed filing. Detailed filing data is available for this year.$7.03$0.20$6.83$0.24$0.25$0.01
2020Detailed filing. Detailed filing data is available for this year.$7.28$0.44$6.84$0.30$0.29$0.00
2019Summary only. Only limited summary data is available for this year.$7.26$0.42$6.84$0.27$0.27$0.01
2018Summary only. Only limited summary data is available for this year.$7.24$0.41$6.83$0.33$0.32$0.01
2017Summary only. Only limited summary data is available for this year.$7.32$0.49$6.83$0.43$0.42$0.01
2016Summary only. Only limited summary data is available for this year.$7.11$0.29$6.82$0.28$0.27$0.01
2015Summary only. Only limited summary data is available for this year.$7.02$0.22$6.81$0.21$0.20$0.01
2014Summary only. Only limited summary data is available for this year.$7.05$0.26$6.80$0.28$0.27$0.01
2013Summary only. Only limited summary data is available for this year.$7.00$0.21$6.79$0.28$0.27$0.00
2012Summary only. Only limited summary data is available for this year.$6.79$0.01$6.79$0.29$0.28$0.00
2011Summary only. Only limited summary data is available for this year.$7.16$0.38$6.78$0.34$0.33$0.01
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)4 • $500k-$1M nonprofits