Civic Intelligence

Weymouth Educational Telecommunicators Corporation Inc.

990 • Fiscal year 2017 • EIN 04-3318911

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 28, 2017

775 Pleasant Street Ste 12Weymouth, MA 02189-2355

(781) 331-3400

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$1,457,914

Up $1,041,711 (+250%) from 2016

Net Assets

Up

$1,424,653

Up $1,008,450 (+242%) from 2016

Liabilities

Up

$33,261

Up $33,261 from 2016

Revenue And Expenses

Revenue

Up

$1,122,417

Up $400,493 (+55%) from 2016

Expenses

Up

$829,238

Up $36,342 (+4.6%) from 2016

Net Income

Up

$293,179

Up $364,151 (+513%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $418,032Liabilities 2011: $0Net Assets 2011: $418,0322011Assets 2012: $428,018Liabilities 2012: $0Net Assets 2012: $428,0182012Assets 2013: $489,361Liabilities 2013: $0Net Assets 2013: $489,3612013Assets 2014: $529,306Liabilities 2014: $0Net Assets 2014: $529,3062014Assets 2015: $494,986Liabilities 2015: $0Net Assets 2015: $494,9862015Assets 2016: $416,203Liabilities 2016: $0Net Assets 2016: $416,2032016Assets 2017: $1,457,914Liabilities 2017: $33,261Net Assets 2017: $1,424,6532017Assets 2018: $1,461,098Liabilities 2018: $31,438Net Assets 2018: $1,429,6602018Assets 2019: $1,454,499Liabilities 2019: $33,154Net Assets 2019: $1,421,3452019Assets 2020: $1,421,311Liabilities 2020: $45,993Net Assets 2020: $1,375,3182020Assets 2021: $1,332,893Liabilities 2021: $54,294Net Assets 2021: $1,278,5992021Assets 2022: $1,249,802Liabilities 2022: $36,926Net Assets 2022: $1,212,8762022Assets 2023: $1,477,173Liabilities 2023: $147,594Net Assets 2023: $1,329,5792023Assets 2024: $1,476,766Liabilities 2024: $100,841Net Assets 2024: $1,375,9252024Assets 2025: $1,284,370Liabilities 2025: $68,708Net Assets 2025: $1,215,6622025

Highlighted filing

2017

Assets$1,457,914
Liabilities$33,261
Net Assets$1,424,653

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $635,0842011Expenses 2012: $613,8332012Revenue 2013: $656,845Expenses 2013: $595,347Net Income 2013: $61,4982013Revenue 2014: $670,731Expenses 2014: $623,532Net Income 2014: $47,1992014Revenue 2015: $708,148Expenses 2015: $729,208Net Income 2015: -$21,0602015Revenue 2016: $721,924Expenses 2016: $792,896Net Income 2016: -$70,9722016Revenue 2017: $1,122,417Expenses 2017: $829,238Net Income 2017: $293,1792017Revenue 2018: $1,039,054Expenses 2018: $807,310Net Income 2018: $231,7442018Revenue 2019: $1,020,514Expenses 2019: $825,933Net Income 2019: $194,5812019Revenue 2020: $963,736Expenses 2020: $807,826Net Income 2020: $155,9102020Revenue 2021: $738,592Expenses 2021: $832,609Net Income 2021: -$94,0172021Revenue 2022: $720,178Expenses 2022: $745,153Net Income 2022: -$24,9752022Revenue 2023: $955,953Expenses 2023: $876,965Net Income 2023: $78,9882023Revenue 2024: $858,413Expenses 2024: $840,807Net Income 2024: $17,6062024Revenue 2025: $659,082Expenses 2025: $840,863Net Income 2025: -$181,7812025

Highlighted filing

2017

Revenue$1,122,417
Expenses$829,238
Net Income$293,179
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 28, 2017
Return Version
2016v3.0
Gross Receipts
$1,531,654
Mission and Program Overview

Mission

The corporation's primary exempt purpose is operating educational programs, television programming, and television facilities that will provide the residents and students of the town of weymouth, ma with training in the use of such television facilities and educational channels in connection with the cable system serving the town. Effective jan. 1, 2005, the corporation expanded their operation to include operation of public access and government access channels.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related-$697,370-
Land, Buildings, and Equipment, Net$336,609$444,213▲ $107,604
Accounts Receivable-$206,984-
Cash and Non-Interest-Bearing Accounts$28,700$95,681▲ $66,981
Investments in Publicly Traded Securities$42,152--
Prepaid Expenses and Deferred Charges-$7,922-
Intangible Assets$8,742$5,744▼ $2,998
Total Assets$416,203$1,457,914▲ $1,041,711
Liabilities
Accounts Payable and Accrued Expenses-$33,261-
Total Liabilities$0$33,261▲ $33,261
Net Assets / Fund Balance
Unrestricted Net Assets$416,203$1,424,653▲ $1,008,450
Total Net Assets Fund Balance$416,203$1,424,653▲ $1,008,450
Total Liabilities and Net Assets / Fund Balance$416,203$1,457,914▲ $1,041,711

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$204,304$385,846$590,150
Leasehold Improvements$239,909$84,243$324,152
Investment Program Related Org$13,615--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Glenn HeathPresident
Chris CastroDirector
Joseph ClearySecretary
James DuffyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,113,087
Program Service Revenue
$0
Investment Income
$9,330
Other Revenue
$0
All Other Contributions
$1,112,617
Change in Net Assets
$293,179

Audited Revenue Reconciliation

Revenue per Audited Statements
$908,918
Revenue Not Reported on Financial Statements
$213,499
Revenue Not Reported on Form 990
$-1,318
Other Revenue Adjustments
$213,499
Total Revenue per Audited Statements
$907,600
Total Revenue per Form 990
$1,122,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$449,089
Other Expenses$380,149
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$342,574$12,417-$354,991
Depreciation Depletion$113,458--$113,458
Occupancy$82,246$2,296-$84,542
Other Employee Benefits$57,411$2,947-$60,358
Information Technology$41,939--$41,939
Payroll Taxes$27,956$1,012-$28,968
Office Expenses$28,894$20-$28,914
Fees for Services Accounting$17,198$9,260-$26,458
Insurance$14,694--$14,694
Conferences and Meetings$11,707--$11,707
Travel$8,739--$8,739
Pension Plan Contributions$4,399$373-$4,772
Advertising$399--$399
Other Expenses$269$703-$269
Total Functional Expenses$800,210$29,028$0$829,238

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$829,238
Total Expenses per Audited Statements$829,238
Total Expenses per Form 990$829,238
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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

Board of directors reviews the return before filing.

Form 990, Page 6, Part VI, Line 15A

Salary increases are subject to review from the board of directors

Form 990, Page 6, Part VI, Line 15B

Salary increases are subject to review from the board of directors

Form 990, Page 6, Part VI, Line 19

Governing documents made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Weymouth Educational
EIN
04-3318911
Phone
7813313400
Address
775 PLEASANT STREET STE 12, WEYMOUTH, MA 02189-2355
Doing Business As
Wetc

Signing Officer

Name
James Duffy
Title
Treasurer
Phone
7813313400
Signed
2017-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Duffy
Formed
1996
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
8

Preparer

Firm
D J Gustafson & Co CPA Pc
Address
775 PLEASANT STREET SUITE 5, E WEYMOUTH, MA 02189
Preparer
James W Gustafson CPA
Phone
7813318811
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The corporation's primary exempt purpose is operating educational programs, television programming, and television facilities that will provide the residents and students of the town of weymouth, ma with training in the use of such television facilities and educational channels in connection with the cable system serving the town. Effective jan. 1, 2005, the corporation expanded their operation to include operation of public access and government access channels.

Form 990, Part XI, Line 9

Book/tax 4797 difference 704

Form 990, Page 12, Part XII, Line 1

Prior year financial statements were reported on the modified cash basis of accounting. Current year financial statements are prepared on the accrual basis of accounting generally accepted in the united states.

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Section 481(a) adjustment 213,499

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0644577
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03851668
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0204304
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0385846
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0590150
IRS990ScheduleD/ExpensesSubtotalAmt0829238
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0217064
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1200740
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2160362
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt380334
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt425255
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt513615
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0PRUDENTIAL (PIFZX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1PIMCO (PBDDX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2SIT (SNGVX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3LORD ABBETT (LHYAX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4RIDGEWORTH (SAMBX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5GENERAL ELECTRIC (GE)
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5F
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt084243
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0324152
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SECTION 481(A) ADJUSTMENT 213,499
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
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IRS990ScheduleD/TotalBookValueProgramRltdAmt0697370
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IRS990ScheduleD/TotalRevenuePerForm990Amt01122417
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION'S PRIMARY EXEMPT PURPOSE IS OPERATING EDUCATIONAL PROGRAMS, TELEVISION PROGRAMMING, AND TELEVISION FACILITIES THAT WILL PROVIDE THE RESIDENTS AND STUDENTS OF THE TOWN OF WEYMOUTH, MA WITH TRAINING IN THE USE OF SUCH TELEVISION FACILITIES AND EDUCATIONAL CHANNELS IN CONNECTION WITH THE CABLE SYSTEM SERVING THE TOWN. EFFECTIVE JAN. 1, 2005, THE CORPORATION EXPANDED THEIR OPERATION TO INCLUDE OPERATION OF PUBLIC ACCESS AND GOVERNMENT ACCESS CHANNELS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS REVIEWS THE RETURN BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY INCREASES ARE SUBJECT TO REVIEW FROM THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARY INCREASES ARE SUBJECT TO REVIEW FROM THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK/TAX 4797 DIFFERENCE 704
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PRIOR YEAR FINANCIAL STATEMENTS WERE REPORTED ON THE MODIFIED CASH BASIS OF ACCOUNTING. CURRENT YEAR FINANCIAL STATEMENTS ARE PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING GENERALLY ACCEPTED IN THE UNITED STATES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 12, PART XII, LINE 1
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0800210
IRS990/TotalFunctionalExpensesGrp/TotalAmt0829238
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IRS990/TotalProgramServiceExpensesAmt0800210
IRS990/TotalRevenueGrp/ExclusionAmt019417
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-10087
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01122417
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0416203
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01457914
IRS990/TravelGrp/ProgramServicesAmt08739
IRS990/TravelGrp/TotalAmt08739
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0416203
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01424653
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08 HILL ROAD
IRS990/USAddress/CityNm0HOLBROOK
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002343
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.WEYMOUTH.TV
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES DUFFY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07813313400
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-09-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEYMOUTH EDUCATIONAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0TELECOMMUNICATIONS CORP INC
ReturnHeader/Filer/BusinessNameControlTxt0WEYM
ReturnHeader/Filer/EIN0043318911
ReturnHeader/Filer/PhoneNum07813313400
ReturnHeader/Filer/USAddress/AddressLine1Txt0775 PLEASANT STREET STE 12
ReturnHeader/Filer/USAddress/CityNm0WEYMOUTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd0021892355
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02BDA5714C4D8442C27F833D29CEF9A3BF2B771E6
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07F4210F1912DFE42D5504FFF9366DC1015F35424
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042809586
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0D J GUSTAFSON & CO CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0775 PLEASANT STREET SUITE 5
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0E WEYMOUTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002189
ReturnHeader/PreparerPersonGrp/PhoneNum07813318811
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES W GUSTAFSON CPA
ReturnHeader/ReturnTs02017-11-15T09:44:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.28$0.07$1.22$0.66$0.84$0.18
2024Detailed filing. Detailed filing data is available for this year.$1.48$0.10$1.38$0.86$0.84$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.48$0.15$1.33$0.96$0.88$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.25$0.04$1.21$0.72$0.75$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.33$0.05$1.28$0.74$0.83$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.42$0.05$1.38$0.96$0.81$0.16
2019Detailed filing. Detailed filing data is available for this year.$1.45$0.03$1.42$1.02$0.83$0.19
2018Detailed filing. Detailed filing data is available for this year.$1.46$0.03$1.43$1.04$0.81$0.23
2017Detailed filing. Detailed filing data is available for this year.$1.46$0.03$1.42$1.12$0.83$0.29
2016Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$0.72$0.79$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.49$0.00$0.49$0.71$0.73$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.53$0.67$0.62$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.00$0.49$0.66$0.60$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$0.61
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.00$0.42$0.64