Civic Intelligence

Weymouth Educational Telecommunicators Corporation Inc.

990 • Fiscal year 2020 • EIN 04-3318911

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 08, 2020

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

35th percentile

0.03x

Higher debt load relative to assets than 35% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

33rd percentile

0.05x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

68th percentile

16%

Higher net margin than 68% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

23rd percentile

-2.3%

Faster asset growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

38th percentile

-5.6%

Faster revenue growth than 38% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$1,421,311

Down $33,188 (-2.3%) from 2019

Net Assets

Down

$1,375,318

Down $46,027 (-3.2%) from 2019

Liabilities

Up

$45,993

Up $12,839 (+39%) from 2019

Revenue

Down

$963,736

Down $56,778 (-5.6%) from 2019

Expenses

Down

$807,826

Down $18,107 (-2.2%) from 2019

Net Income

Down

$155,910

Down $38,671 (-20%) from 2019

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

2020

Assets$1,421,311
Liabilities$45,993
Net Assets$1,375,318

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

2020

Revenue$963,736
Expenses$807,826
Net Income$155,910
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 8, 2020
Return Version
2019v5.0
Gross Receipts
$1,374,376
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$597,841$681,133▲ $83,292
Land, Buildings, and Equipment, Net$353,900$304,782▼ $49,118
Cash and Non-Interest-Bearing Accounts$142,959$232,646▲ $89,687
Accounts Receivable$188,112$178,929▼ $9,183
Savings and Temporary Cash Investments$150,076--
Prepaid Expenses and Deferred Charges$19,312$17,146▼ $2,166
Intangible Assets$2,299$1,463▼ $836
Total Assets$1,454,499$1,421,311▼ $33,188
Other Assets Total-$5,212-
Liabilities
Accounts Payable and Accrued Expenses$33,154$45,993▲ $12,839
Total Liabilities$33,154$45,993▲ $12,839
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,421,345$1,375,318▼ $46,027
Total Net Assets Fund Balance$1,421,345$1,375,318▼ $46,027
Total Liabilities and Net Assets / Fund Balance$1,454,499$1,421,311▼ $33,188

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$121,328$469,506$590,834
Leasehold Improvements$183,454$147,043$330,497
Investment Program Related Org$102,918--
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
$976,216
Program Service Revenue
$0
Investment Income
$-12,480
Other Revenue
$0
All Other Contributions
$975,626
Change in Net Assets
$155,910

Audited Revenue Reconciliation

Revenue per Audited Statements
$750,236
Revenue Not Reported on Financial Statements
$213,500
Revenue Not Reported on Form 990
$11,734
Other Revenue Adjustments
$213,500
Total Revenue per Audited Statements
$761,970
Total Revenue per Form 990
$963,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$448,154
Other Expenses$359,672
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$253,326--$253,326
Occupancy$95,158$2,339-$97,497
Depreciation Depletion$90,383--$90,383
Current Officers, Directors, Trustees, and Key Employees$76,531$13,506-$90,037
Other Employee Benefits$67,991$3,537-$71,528
Information Technology$59,657--$59,657
Office Expenses$33,070$28-$33,098
Fees for Services Accounting$19,859$10,693-$30,552
Payroll Taxes$25,868$1,078-$26,946
Insurance$16,182--$16,182
Travel$7,973--$7,973
Conferences and Meetings$7,929--$7,929
Pension Plan Contributions$5,959$358-$6,317
Other Expenses$519$525-$519
Advertising$112--$112
Total Functional Expenses$775,762$32,064$0$807,826

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$807,826
Total Expenses per Audited Statements$807,826
Total Expenses per Form 990$807,826
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 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
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
2020-10-08
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
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, 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

Rounding 2 book/tax 4797 difference -173 total -171

Financial Statement Notes

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

Section 481(a) adjustment 213,500

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt03152
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0469506
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2152545
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3102918
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0SIT (SNGVX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CALAMOS MARKET (CVSIX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2BAIRD AGGR BOND (BAGIX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3BAIRD CORE PLUS BOND (BCOSX)
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
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IRS990ScheduleD/OtherRevenuesNotIncludedAmt0213500
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IRS990ScheduleD/RevenueSubtotalAmt0750236
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SECTION 481(A) ADJUSTMENT 213,500
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/ExplanationTxt7ROUNDING 2 BOOK/TAX 4797 DIFFERENCE -173 TOTAL -171
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/TravelGrp/TotalAmt07973
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08 HILL ROAD
IRS990/USAddress/CityNm0HOLBROOK
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002343
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.WEYMOUTH.TV
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES DUFFY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07813313400
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-08
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
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.14.160.25
ReturnHeader/FilingSecurityInformation/IPDt02020-10-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:28:49
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042809586

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