Civic Intelligence

Weymouth Educational Telecommunicators Corporation Inc.

990 • Fiscal year 2023 • EIN 04-3318911

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 30, 2023

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

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

0.15x

Higher debt load relative to revenue than 60% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

58th percentile

8.3%

Higher net margin than 58% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

75th percentile

18%

Faster asset growth than 75% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

76th percentile

33%

Faster revenue growth than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$1,477,173

Up $227,371 (+18%) from 2022

Net Assets

Up

$1,329,579

Up $116,703 (+9.6%) from 2022

Liabilities

Up

$147,594

Up $110,668 (+300%) from 2022

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin58th percentile

Revenue

Up

$955,953

Up $235,775 (+33%) from 2022

Expenses

Up

$876,965

Up $131,812 (+18%) from 2022

Net Income

Up

$78,988

Up $103,963 (+416%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth75th 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

2023

Assets$1,477,173
Liabilities$147,594
Net Assets$1,329,579
Open 2023 Filing

Operations Trend

Revenue Growth76th 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

2023

Revenue$955,953
Expenses$876,965
Net Income$78,988
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 30, 2023
Return Version
2022v5.0
Gross Receipts
$1,806,853
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$773,785$621,140▼ $152,645
Land, Buildings, and Equipment, Net$200,998$285,401▲ $84,403
Cash and Non-Interest-Bearing Accounts$76,059$233,674▲ $157,615
Accounts Receivable$180,403$179,452▼ $951
Savings and Temporary Cash Investments-$49,675-
Prepaid Expenses and Deferred Charges$16,919$13,084▼ $3,835
Total Assets$1,249,802$1,477,173▲ $227,371
Other Assets Total$1,638$94,747▲ $93,109
Liabilities
Other Liabilities-$82,175-
Accounts Payable and Accrued Expenses$36,926$40,353▲ $3,427
Deferred Revenue-$25,066-
Total Liabilities$36,926$147,594▲ $110,668
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,212,876$1,329,579▲ $116,703
Total Net Assets Fund Balance$1,212,876$1,329,579▲ $116,703
Total Liabilities and Net Assets / Fund Balance$1,249,802$1,477,173▲ $227,371

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$125,890$566,317$692,207
Leasehold Improvements$142,968$114,701$257,669
Other Land Buildings$16,543$2,757$19,300
Investment Program Related Org$60,696--
Other Assets Org$94,747--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Glenn HeathPresident
Chris CastroDirector
Christopher PotterDirector
Russ DrysdaleDirector
James DuffyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Tcr Engineering ServiceVideo Maintenan22 WESTDALE ROAD, Westwood, MA 02090$163,767
Revenue and Support

Revenue Composition

Contributions and Grants
$974,676
Program Service Revenue
$0
Investment Income
$-18,723
Other Revenue
$0
All Other Contributions
$714,266
Change in Net Assets
$78,988

Audited Revenue Reconciliation

Revenue per Audited Statements
$955,953
Revenue Not Reported on Form 990
$37,715
Total Revenue per Audited Statements
$993,668
Total Revenue per Form 990
$955,953
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$456,304
Salaries, Compensation, and Employee Benefits$420,661
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$301,770$14,391-$316,161
Occupancy$96,260$2,325-$98,585
Other Employee Benefits$69,711$3,536-$73,247
Depreciation Depletion$60,340--$60,340
Information Technology$58,461--$58,461
Office Expenses$37,551--$37,551
Fees for Services Accounting$20,872$11,239-$32,111
Payroll Taxes$22,980$1,209-$24,189
Insurance$18,279--$18,279
Travel$12,813--$12,813
Conferences and Meetings$7,967--$7,967
Pension Plan Contributions$6,657$407-$7,064
Other Expenses$269--$269
Total Functional Expenses$843,858$33,107$0$876,965

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$876,965
Total Expenses per Audited Statements$876,965
Total Expenses per Form 990$876,965
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Obligations$82,175
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
2023-10-30
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.”

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IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE 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.
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IRS990/ReportOtherAssetsInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01002103
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt015945
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt019086
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt024052
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IRS990ScheduleA/PublicSupportPY170Pct00.97850
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01002103
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04416843
IRS990ScheduleA/TotalSupportAmt04510227
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/ExpensesSubtotalAmt0876965
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1245101
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt268225
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt360696
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0US TREASURY BILLS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1US TREASURY NOTES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2CALAMOS MARKET (CVSIX)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3PROCTER & GAMBLE (PG)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0114701
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0257669
IRS990ScheduleD/NetUnrealizedGainsInvstAmt037715
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt094747
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt016543
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02757
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt019300
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IRS990ScheduleD/RevenueSubtotalAmt0955953
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt094747
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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/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0843858
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IRS990/TravelGrp/ProgramServicesAmt012813
IRS990/TravelGrp/TotalAmt012813
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES DUFFY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07813313400
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-30
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/IRSResponsiblePrtyInfoCurrInd0true
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

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,477,173
Liabilities
$147,594
Net assets
$1,329,579
Revenue
$955,953
Expenses
$876,965
Net income
$78,988
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