Civic Intelligence

Weymouth Educational Telecommunicators Corporation Inc.

990 • Fiscal year 2022 • EIN 04-3318911

Jul 01, 2021 to Jun 30, 2022 • Filed on Oct 06, 2022

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

40th percentile

0.03x

Higher debt load relative to assets than 40% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.05x

Higher debt load relative to revenue than 42% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

28th percentile

-3.5%

Higher net margin than 28% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

27th percentile

-6.2%

Faster asset growth than 27% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

36th percentile

-2.5%

Faster revenue growth than 36% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$1,249,802

Down $83,091 (-6.2%) from 2021

Net Assets

Down

$1,212,876

Down $65,723 (-5.1%) from 2021

Liabilities

Down

$36,926

Down $17,368 (-32%) from 2021

Revenue

Down

$720,178

Down $18,414 (-2.5%) from 2021

Expenses

Down

$745,153

Down $87,456 (-11%) from 2021

Net Income

Up

-$24,975

Up $69,042 (+73%) from 2021

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

2022

Assets$1,249,802
Liabilities$36,926
Net Assets$1,212,876

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

2022

Revenue$720,178
Expenses$745,153
Net Income-$24,975
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Oct 6, 2022
Return Version
2021v4.0
Gross Receipts
$1,140,666
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$761,156$773,785▲ $12,629
Land, Buildings, and Equipment, Net$245,920$200,998▼ $44,922
Accounts Receivable$168,674$180,403▲ $11,729
Cash and Non-Interest-Bearing Accounts$136,797$76,059▼ $60,738
Prepaid Expenses and Deferred Charges$16,294$16,919▲ $625
Intangible Assets$627--
Total Assets$1,332,893$1,249,802▼ $83,091
Other Assets Total$3,425$1,638▼ $1,787
Liabilities
Accounts Payable and Accrued Expenses$54,294$36,926▼ $17,368
Total Liabilities$54,294$36,926▼ $17,368
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,278,599$1,212,876▼ $65,723
Total Net Assets Fund Balance$1,278,599$1,212,876▼ $65,723
Total Liabilities and Net Assets / Fund Balance$1,332,893$1,249,802▼ $83,091

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$51,336$566,491$617,827
Leasehold Improvements$149,662$108,007$257,669
Investment Program Related Org$35,670--
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$737,668
Program Service Revenue
$0
Investment Income
$-17,490
Other Revenue
$0
All Other Contributions
$737,668
Change in Net Assets
$-24,975

Audited Revenue Reconciliation

Revenue per Audited Statements
$720,178
Revenue Not Reported on Form 990
$-38,956
Total Revenue per Audited Statements
$681,222
Total Revenue per Form 990
$720,178
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$392,160
Other Expenses$352,993
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$279,687$14,301-$293,988
Occupancy$99,148$2,335-$101,483
Information Technology$80,798--$80,798
Other Employee Benefits$63,828$3,282-$67,110
Depreciation Depletion$50,111--$50,111
Fees for Services Accounting$19,597$10,553-$30,150
Office Expenses$29,537--$29,537
Payroll Taxes$21,717$1,162-$22,879
Insurance$16,141--$16,141
Travel$14,874--$14,874
Pension Plan Contributions$7,798$385-$8,183
Conferences and Meetings$4,897--$4,897
Advertising$828--$828
Other Expenses$269$-55-$-55
Total Functional Expenses$713,190$31,963$0$745,153

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$746,945
Expenses per Audited Statements$745,153
Total Expenses per Form 990$745,153
Expenses Not Reported on Form 990$1,792
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
2022-10-06
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 -1,792

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

Book/tax disposal difference 1,792

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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt635670
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0SIT (SNGVX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CALAMOS MARKET (CVSIX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2SCHWAB US TIPS ETF (SCHP)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3VANGUARD UTILITIES ETF (VPU)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4FIDELITY FLOATING RATE H (FFRHX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5PROCTER & GAMBLE (PG)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6KELLOGG CO. (K)
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK/TAX DISPOSAL DIFFERENCE 1,792
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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.
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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
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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/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08 HILL ROAD
IRS990/USAddress/CityNm0HOLBROOK
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002343
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.WEYMOUTH.TV
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES DUFFY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07813313400
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-06
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/PreparerFirmGrp/PreparerFirmEIN0042809586
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0D J GUSTAFSON & CO CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0775 PLEASANT STREET SUITE 5
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0E WEYMOUTH
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002189

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