Civic Intelligence

Worcester East Side Community Development Corporation

990 • Fiscal year 2023 • EIN 04-3280116

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 12, 2024

Organization Profilewww.worcestereastsidecdc.org

View Organization Page

310 Highland StreetWorcester, MA 01602

(508) 799-6942

Siviq Scores

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

Liabilities / Assets

95th percentile

1.15x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

15.57x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

3rd percentile

-104%

Higher net margin than 3% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

57th percentile

$76,923

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 33.6% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

18th percentile

-6.1%

Faster asset growth than 18% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

3rd percentile

-72%

Faster revenue growth than 3% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$3,111,222

Down $203,388 (-6.1%) from 2022

Net Assets

Down

-$454,380

Down $238,973 (-111%) from 2022

Liabilities

Up

$3,565,602

Up $35,585 (+1.0%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Down

$228,952

Down $594,760 (-72%) from 2022

Expenses

Down

$467,925

Down $93,638 (-17%) from 2022

Net Income

Down

-$238,973

Down $501,122 (-191%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $3,168,921Liabilities 2010: $1,435,860Net Assets 2010: $1,733,0612010Assets 2011: $3,150,060Liabilities 2011: $1,350,116Net Assets 2011: $1,799,9442011Assets 2012: $2,954,041Liabilities 2012: $1,317,713Net Assets 2012: $1,636,3282012Assets 2013: $2,676,674Liabilities 2013: $1,338,413Net Assets 2013: $1,338,2612013Assets 2014: $2,663,117Liabilities 2014: $1,529,288Net Assets 2014: $1,133,8292014Assets 2015: $2,089,686Liabilities 2015: $1,292,500Net Assets 2015: $797,1862015Assets 2016: $2,000,015Liabilities 2016: $1,456,530Net Assets 2016: $543,4852016Assets 2017: $2,676,411Liabilities 2017: $2,329,857Net Assets 2017: $346,5542017Assets 2018: $4,123,029Liabilities 2018: $4,054,892Net Assets 2018: $68,1372018Assets 2019: $3,575,118Liabilities 2019: $3,904,294Net Assets 2019: -$329,1762019Assets 2020: $3,401,501Liabilities 2020: $3,869,346Net Assets 2020: -$467,8452020Assets 2021: $3,581,582Liabilities 2021: $4,059,138Net Assets 2021: -$477,5562021Assets 2022: $3,314,610Liabilities 2022: $3,530,017Net Assets 2022: -$215,4072022Assets 2023: $3,111,222Liabilities 2023: $3,565,602Net Assets 2023: -$454,3802023Assets 2024: $3,019,324Liabilities 2024: $3,588,943Net Assets 2024: -$569,6192024Assets 2025: $2,786,020Liabilities 2025: $3,413,405Net Assets 2025: -$627,3852025

Highlighted filing

2023

Assets$3,111,222
Liabilities$3,565,602
Net Assets-$454,380
Open 2023 Filing

Operations Trend

Revenue Growth3rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,440,5512010Expenses 2011: $1,220,4192011Expenses 2012: $611,6742012Revenue 2013: $236,713Expenses 2013: $534,779Net Income 2013: -$298,0662013Revenue 2014: $276,940Expenses 2014: $481,372Net Income 2014: -$204,4322014Revenue 2015: $162,007Expenses 2015: $498,650Net Income 2015: -$336,6432015Revenue 2016: $205,632Expenses 2016: $459,333Net Income 2016: -$253,7012016Revenue 2017: $208,427Expenses 2017: $402,368Net Income 2017: -$193,9412017Revenue 2018: $239,149Expenses 2018: $513,322Net Income 2018: -$274,1732018Revenue 2019: $313,853Expenses 2019: $708,076Net Income 2019: -$394,2232019Revenue 2020: $448,469Expenses 2020: $584,972Net Income 2020: -$136,5032020Revenue 2021: $556,381Expenses 2021: $566,092Net Income 2021: -$9,7112021Revenue 2022: $823,712Expenses 2022: $561,563Net Income 2022: $262,1492022Revenue 2023: $228,952Expenses 2023: $467,925Net Income 2023: -$238,9732023Revenue 2024: $289,217Expenses 2024: $404,456Net Income 2024: -$115,2392024Revenue 2025: $366,856Expenses 2025: $424,622Net Income 2025: -$57,7662025

Highlighted filing

2023

Revenue$228,952
Expenses$467,925
Net Income-$238,973
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 12, 2024
Return Version
2022v5.0
Gross Receipts
$228,952
Mission and Program Overview

Mission

To stabilize and revitalize the East Side Neighborhoods that we serve in order to improve the quality of life for all those who reside or work here. We aim to reduce neighborhood blight, preserve current housing stock, increase the availability of quality home ownership opportunities and affordable well-managed rental units, provide economic and educational programs, promote the activities of new and existing businesses and create a safer, healthier community for all. We seek to foster open channels of communication among those within the community and the government. We involve all that have an interest and encourage their leadership and growth to achieve these objectives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,802,954$2,610,506▼ $192,448
Cash and Non-Interest-Bearing Accounts$237,294$246,638▲ $9,344
Pledges and Grants Receivable$27,519$0▼ $27,519
Prepaid Expenses and Deferred Charges$11,696$11,696→ $0
Accounts Receivable$11,750$3,019▼ $8,731
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,314,610$3,111,222▼ $203,388
Other Assets Total$223,397$239,363▲ $15,966
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,491,112$3,547,438▲ $56,326
Other Liabilities$1,393$9,726▲ $8,333
Accounts Payable and Accrued Expenses$37,512$8,438▼ $29,074
Total Liabilities$3,530,017$3,565,602▲ $35,585
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,778$8,054▼ $1,724
Net Assets Without Donor Restrictions$-225,185$-462,434▼ $237,249
Total Net Assets Fund Balance$-215,407$-454,380▼ $238,973
Total Liabilities and Net Assets / Fund Balance$3,314,610$3,111,222▼ $203,388

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,925,204$491,773$2,416,977
Leasehold Improvements$557,731$412,806$970,537
Land$122,532-$122,532
Equipment$1,605$36,778$38,383
Other Land Buildings$3,434$10,306$13,740
Other Assets Org$239,363--
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Donna WarshawExecutive DirectorFT$76,923$76,923

Board Members and Trustees

NameTitle
Colleen PappasPresident
Berkeley WlodarczakDirector
Elliot LinzDirector
Leah WilsonDirector
Deborah HallClerk
Debra BolzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$44,933
Program Service Revenue
$183,650
Investment Income
$369
Other Revenue
$0
All Other Contributions
$7,048
Change in Net Assets
$-238,973

Audited Revenue Reconciliation

Revenue per Audited Statements
$228,952
Total Revenue per Audited Statements
$228,952
Total Revenue per Form 990
$228,952
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$331,692
Salaries, Compensation, and Employee Benefits$136,233
Total Fundraising Expense$14,483
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$108,647$4,800-$113,447
Current Officers, Directors, Trustees, and Key Employees$32,114$36,626$8,183$76,923
Other Salaries and Wages$20,472$23,348$5,216$49,036
Insurance$21,212$7,071-$28,283
Fees for Services Accounting$14,237$10,367-$24,604
Office Expenses-$22,318-$22,318
All Other Expenses$14,848$6,568-$21,416
Other Expenses$14,698$16,525-$14,698
Payroll Taxes$3,836$5,108$1,084$10,028
Interest$8,634--$8,634
Fees for Services Management$1,509--$1,509
Travel-$1,115-$1,115
Other Employee Benefits-$246-$246
Total Functional Expenses$311,128$142,314$14,483$467,925

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$467,925
Total Expenses per Audited Statements$467,925
Total Expenses per Form 990$467,925
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Rents$8,333
Tenant Security Deposits$1,393
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 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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The completed form 990 is provided to the finance committee for review and it is then presented to the board for review and approval”

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

“All potential issues are discussed at regular board meetings.”

Form 990, Part VI, Section B, Line 15A

“Annual review at board meeting including comparisons of compensation to other similar organizations.”

Form 990, Part VI, Section B, Line 15B

“Annual review at board meeting including comparisons of compensation to other similar organizations.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

FORM 990, Part VI, Section A, Line 6

“The 990 is reviewed at the board meeting.”

FORM 990, Part VI, Section B, Line 11B

“The completed form 990 is provided to the finance committee for review and it is then presented to the board for review and approval”

FORM 990, Part VI, Section B, Line 12C

“All potential issues are discussed at regular board meetings”

FORM 990, Part VI, Section B, Line 15

“Annual review at board meeting including comparisons of compensation to other similar organizations”

FORM 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Worcester East Side Community
EIN
04-3280116
Phone
5087996942
Address
310 HIGHLAND STREET, WORCESTER, MA 01602

Signing Officer

Name
Donna Warshaw
Title
Executive Director
Signed
2024-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donna Warshaw
Formed
1996
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
2

Preparer

Firm
Houssan & Ojerholm Pc
Address
333 SHREWSBURY STREET, WORCESTER, MA 01604
Preparer
Michael E Houssan CPA
Phone
5087919501
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The finance committe is charged with the oversight and governance of the audit.”

Financial Statement Notes

Part X : FIN48 Footnote

“The FASB issued ASC 740-10, Income Taxes, based on FIN 48, Accounting for Uncertainty in Income Taxes as an interpretation of FASB Statement No. 109. ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an entitys financial statements in accordance with Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes. ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position or expected to be taken in a tax return. In addition, ASC 740-10 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Organization does not have any material tax positions that require disclosure or recognition.”

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IRS990/MissionDesc0To stabilize and revitalize the East Side Neighborhoods that we serve in order to improve the quality of life for all those who reside or work here. We aim to reduce neighborhood blight, preserve current housing stock, increase the availability of quality home ownership opportunities and affordable well-managed rental units, provide economic and educational programs, promote the activities of new and existing businesses and create a safer, healthier community for all. We seek to foster open channels of communication among those within the community and the government. We involve all that have an interest and encourage their leadership and growth to achieve these objectives.
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IRS990/OtherExpensesGrp/Desc3REAL ESTATE TAXES
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IRS990/PrincipalOfficerNm0Donna Warshaw
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IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0254
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0216680
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0221760
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0203635
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01144034
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0156
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0254
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IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00040
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01520
IRS990ScheduleA/OtherIncome509Grp/TotalAmt08341
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportPY509Pct00.99300
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0491773
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt036778
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0970537
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0239363
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11393
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0228952
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The FASB issued ASC 740-10, Income Taxes, based on FIN 48, Accounting for Uncertainty in Income Taxes as an interpretation of FASB Statement No. 109. ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an entitys financial statements in accordance with Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes. ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position or expected to be taken in a tax return. In addition, ASC 740-10 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Organization does not have any material tax positions that require disclosure or recognition.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMPLETED FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW AND IT IS THEN PRESENTED TO THE BOARD FOR REVIEW AND APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL POTENTIAL ISSUES ARE DISCUSSED AT REGULAR BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL REVIEW AT BOARD MEETING INCLUDING COMPARISONS OF COMPENSATION TO OTHER SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL REVIEW AT BOARD MEETING INCLUDING COMPARISONS OF COMPENSATION TO OTHER SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FINANCE COMMITTE IS CHARGED WITH THE OVERSIGHT AND GOVERNANCE OF THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 990 IS REVIEWED AT THE BOARD MEETING.

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Filings

Displayed year

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

Open filing
Assets
$3,111,222
Liabilities
$3,565,602
Net assets
-$454,380
Revenue
$228,952
Expenses
$467,925
Net income
-$238,973
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.79$3.41$0.63$0.37$0.42$0.06
2024Detailed filing. Detailed filing data is available for this year.$3.02$3.59$0.57$0.29$0.40$0.12
2023Detailed filing. Detailed filing data is available for this year.$3.11$3.57$0.45$0.23$0.47$0.24
2022Detailed filing. Detailed filing data is available for this year.$3.31$3.53$0.22$0.82$0.56$0.26
2021Detailed filing. Detailed filing data is available for this year.$3.58$4.06$0.48$0.56$0.57$0.01
2020Detailed filing. Detailed filing data is available for this year.$3.40$3.87$0.47$0.45$0.58$0.14
2019Detailed filing. Detailed filing data is available for this year.$3.58$3.90$0.33$0.31$0.71$0.39
2018Detailed filing. Detailed filing data is available for this year.$4.12$4.05$0.07$0.24$0.51$0.27
2017Detailed filing. Detailed filing data is available for this year.$2.68$2.33$0.35$0.21$0.40$0.19
2016Detailed filing. Detailed filing data is available for this year.$2.00$1.46$0.54$0.21$0.46$0.25
2015Detailed filing. Detailed filing data is available for this year.$2.09$1.29$0.80$0.16$0.50$0.34
2014Detailed filing. Detailed filing data is available for this year.$2.66$1.53$1.13$0.28$0.48$0.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.68$1.34$1.34$0.24$0.53$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$1.32$1.64$0.61
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.15$1.35$1.80$1.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.17$1.44$1.73$2.44