Civic Intelligence

Weymouth Educational Telecommunicators Corporation Inc.

990 • Fiscal year 2018 • EIN 04-3318911

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 10, 2018

Organization ProfileWWW.WEYMOUTH.TV
775 Pleasant Street Ste 12Weymouth, MA 02189-2355

(781) 331-3400

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.02x

Higher debt load relative to assets than 32% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

31st percentile

0.03x

Higher debt load relative to revenue than 31% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

79th percentile

22%

Higher net margin than 79% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

47th percentile

0.2%

Faster asset growth than 47% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

25th percentile

-7.4%

Faster revenue growth than 25% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$1,461,098

Up $3,184 (+0.2%) from 2017

Net Assets

Up

$1,429,660

Up $5,007 (+0.4%) from 2017

Liabilities

Down

$31,438

Down $1,823 (-5.5%) from 2017

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin79th percentile

Revenue

Down

$1,039,054

Down $83,363 (-7.4%) from 2017

Expenses

Down

$807,310

Down $21,928 (-2.6%) from 2017

Net Income

Down

$231,744

Down $61,435 (-21%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

2018

Assets$1,461,098
Liabilities$31,438
Net Assets$1,429,660
Open 2018 Filing

Operations Trend

Revenue Growth25th percentile

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

2018

Revenue$1,039,054
Expenses$807,310
Net Income$231,744
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 10, 2018
Return Version
2017v2.3
Gross Receipts
$1,346,087
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$779,801▲ $82,431
Land, Buildings, and Equipment, Net$444,213$403,297▼ $40,916
Accounts Receivable$206,984$191,318▼ $15,666
Cash and Non-Interest-Bearing Accounts$95,681$77,076▼ $18,605
Prepaid Expenses and Deferred Charges$7,922$6,859▼ $1,063
Intangible Assets$5,744$2,747▼ $2,997
Total Assets$1,457,914$1,461,098▲ $3,184
Liabilities
Accounts Payable and Accrued Expenses$33,261$31,438▼ $1,823
Total Liabilities$33,261$31,438▼ $1,823
Net Assets / Fund Balance
Unrestricted Net Assets$1,424,653$1,429,660▲ $5,007
Total Net Assets Fund Balance$1,424,653$1,429,660▲ $5,007
Total Liabilities and Net Assets / Fund Balance$1,457,914$1,461,098▲ $3,184

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$190,114$426,693$616,807
Leasehold Improvements$213,183$110,970$324,153
Investment Program Related Org$50,214--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,030,972
Program Service Revenue
$0
Investment Income
$8,082
Other Revenue
$0
All Other Contributions
$1,030,402
Change in Net Assets
$231,744

Audited Revenue Reconciliation

Revenue per Audited Statements
$825,555
Revenue Not Reported on Financial Statements
$213,499
Revenue Not Reported on Form 990
$-11,766
Other Revenue Adjustments
$213,499
Total Revenue per Audited Statements
$813,789
Total Revenue per Form 990
$1,039,054
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$407,084
Other Expenses$400,226
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$310,515$12,784-$323,299
Depreciation Depletion$122,492--$122,492
Occupancy$88,268$2,354-$90,622
Information Technology$59,425--$59,425
Other Employee Benefits$50,533$2,890-$53,423
Payroll Taxes$25,676$1,070-$26,746
Fees for Services Accounting$17,360$9,347-$26,707
Office Expenses$25,823$28-$25,851
Insurance$14,707--$14,707
Conferences and Meetings$11,655--$11,655
Travel$7,954--$7,954
Pension Plan Contributions$3,232$384-$3,616
Other Expenses$519$532-$519
Advertising$399--$399
Total Functional Expenses$777,921$29,389$0$807,310

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$807,310
Total Expenses per Audited Statements$807,310
Total Expenses per Form 990$807,310
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
2018-11-10
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
6

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 -1,472”

Financial Statement Notes

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

“Section 481(a) adjustment 213,499”

Raw XML AppendixShowing 400 of 404 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt650214
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1PIMCO INVESTMENT GRADE (PBDAX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2CALAMOS MARKET (CVSIX)
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5EATON VANCE (EARRX)
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SECTION 481(A) ADJUSTMENT 213,499
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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 -1,472
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/Filer/BusinessNameControlTxt0WEYM
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:12:08
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
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ReturnHeader/PreparerPersonGrp/PhoneNum07813318811
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES W GUSTAFSON CPA
ReturnHeader/ReturnTs02018-11-29T16:12:08-05:00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,461,098
Liabilities
$31,438
Net assets
$1,429,660
Revenue
$1,039,054
Expenses
$807,310
Net income
$231,744
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