Civic Intelligence

Weymouth Educational Telecommunicators Corporation Inc.

990 • Fiscal year 2019 • EIN 04-3318911

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 10, 2019

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

34th percentile

0.02x

Higher debt load relative to assets than 34% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

33rd percentile

0.03x

Higher debt load relative to revenue than 33% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

76th percentile

19%

Higher net margin than 76% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

37th percentile

-0.5%

Faster asset growth than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

35th percentile

-1.8%

Faster revenue growth than 35% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,454,499

Down $6,599 (-0.5%) from 2018

Net Assets

Down

$1,421,345

Down $8,315 (-0.6%) from 2018

Liabilities

Up

$33,154

Up $1,716 (+5.5%) from 2018

Revenue

Down

$1,020,514

Down $18,540 (-1.8%) from 2018

Expenses

Up

$825,933

Up $18,623 (+2.3%) from 2018

Net Income

Down

$194,581

Down $37,163 (-16%) from 2018

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

2019

Assets$1,454,499
Liabilities$33,154
Net Assets$1,421,345

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

2019

Revenue$1,020,514
Expenses$825,933
Net Income$194,581
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 10, 2019
Return Version
2018v3.1
Gross Receipts
$1,176,385
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$779,801$597,841▼ $181,960
Land, Buildings, and Equipment, Net$403,297$353,900▼ $49,397
Accounts Receivable$191,318$188,112▼ $3,206
Savings and Temporary Cash Investments-$150,076-
Cash and Non-Interest-Bearing Accounts$77,076$142,959▲ $65,883
Prepaid Expenses and Deferred Charges$6,859$19,312▲ $12,453
Intangible Assets$2,747$2,299▼ $448
Total Assets$1,461,098$1,454,499▼ $6,599
Liabilities
Accounts Payable and Accrued Expenses$31,438$33,154▲ $1,716
Total Liabilities$31,438$33,154▲ $1,716
Net Assets / Fund Balance
Unrestricted Net Assets$1,429,660$1,421,345▼ $8,315
Total Net Assets Fund Balance$1,429,660$1,421,345▼ $8,315
Total Liabilities and Net Assets / Fund Balance$1,461,098$1,454,499▼ $6,599

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$153,683$465,838$619,521
Leasehold Improvements$200,217$130,280$330,497
Investment Program Related Org$51,682--
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,002,103
Program Service Revenue
$0
Investment Income
$18,411
Other Revenue
$0
All Other Contributions
$1,001,443
Change in Net Assets
$194,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$807,015
Revenue Not Reported on Financial Statements
$213,499
Revenue Not Reported on Form 990
$10,828
Other Revenue Adjustments
$213,499
Total Revenue per Audited Statements
$817,843
Total Revenue per Form 990
$1,020,514
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$425,710
Other Expenses$400,223
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$241,629--$241,629
Depreciation Depletion$107,796--$107,796
Occupancy$92,254$2,362-$94,616
Current Officers, Directors, Trustees, and Key Employees$75,063$13,246-$88,309
Other Employee Benefits$61,279$3,370-$64,649
Information Technology$56,004--$56,004
Office Expenses$46,423$31-$46,454
Fees for Services Accounting$19,597$10,553-$30,150
Payroll Taxes$25,318$1,055-$26,373
Insurance$15,290--$15,290
Conferences and Meetings$11,981--$11,981
Travel$7,417--$7,417
Pension Plan Contributions$4,353$397-$4,750
Other Expenses$519$874-$519
Total Functional Expenses$794,045$31,888$0$825,933

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$825,933
Total Expenses per Audited Statements$825,933
Total Expenses per Form 990$825,933
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
2019-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Duffy
Formed
1996
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
5
Employees
7

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, Page 1, Item C

WETC

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, Page 2, Part III, Line 4D

The corporation is in the business of providing educational programs, television programming, and television facilties to the city of weymouth. Weymouth residents benefit by having a local access cable station. It also provides students of the city of weymouth, ma with training in the use of such television studios and creation of educational programming.

Form 990, Part XI, Line 9

Book/tax 4797 difference -225

Financial Statement Notes

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

Section 481(a) adjustment 213,499

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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/BookValueAmt2125710
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt368753
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt452674
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt551682
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1SIT (SNGVX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2PRUDENTIAL (PIFZX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3LORD ABBETT (LHYAX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4LORD ABBOT SHORT DUR (LALDX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5EATON VANCE (EARRX)
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WETC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2THE CORPORATION IS IN THE BUSINESS OF PROVIDING EDUCATIONAL PROGRAMS, TELEVISION PROGRAMMING, AND TELEVISION FACILTIES TO THE CITY OF WEYMOUTH. WEYMOUTH RESIDENTS BENEFIT BY HAVING A LOCAL ACCESS CABLE STATION. IT ALSO PROVIDES STUDENTS OF THE CITY OF WEYMOUTH, MA WITH TRAINING IN THE USE OF SUCH TELEVISION STUDIOS AND CREATION OF EDUCATIONAL PROGRAMMING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD OF DIRECTORS REVIEWS THE RETURN BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SALARY INCREASES ARE SUBJECT TO REVIEW FROM THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARY INCREASES ARE SUBJECT TO REVIEW FROM THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOOK/TAX 4797 DIFFERENCE -225
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt08 HILL ROAD
IRS990/USAddress/CityNm0HOLBROOK
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002343
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.WEYMOUTH.TV
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ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES DUFFY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07813313400
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-10
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02BDA5714C4D8442C27F833D29CEF9A3BF2B771E6

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