Civic Intelligence

Cape Ann Fisheries Development Corporation C/O Massdevelopment

990 • Fiscal year 2016 • EIN 04-3422217

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 08, 2017

Jodrey State Pier - 2 State PierGloucester, MA 01930

(978) 283-1938

Siviq Scores

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

Liabilities / Assets

98th percentile

1.62x

Higher debt load relative to assets than 98% of similar nonprofits.

2016 filings • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

13.97x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • $1M-$5M nonprofits • Source year 2016

Net Margin

24th percentile

-12%

Higher net margin than 24% of similar nonprofits.

2016 filings • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

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

2016 filings • $1M-$5M nonprofits • Source year 2016

Asset Growth

46th percentile

0.0%

Faster asset growth than 46% of similar nonprofits.

2016 filings • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

-1.4%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$3,344,074

Up $245 (+0.0%) from 2015

Net Assets

Down

-$2,076,293

Down $46,556 (-2.3%) from 2015

Liabilities

Up

$5,420,367

Up $46,801 (+0.9%) from 2015

Revenue

Down

$387,877

Down $5,592 (-1.4%) from 2015

Expenses

Down

$434,433

Down $6,270 (-1.4%) from 2015

Net Income

Up

-$46,556

Up $678 (+1.4%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $4,870,880Liabilities 2010: $5,712,872Net Assets 2010: -$841,9922010Assets 2011: $3,603,833Liabilities 2011: $5,487,754Net Assets 2011: -$1,883,9212011Assets 2012: $3,468,618Liabilities 2012: $5,380,171Net Assets 2012: -$1,911,5532012Assets 2013: $3,461,243Liabilities 2013: $5,390,345Net Assets 2013: -$1,929,1022013Assets 2014: $3,464,077Liabilities 2014: $5,446,580Net Assets 2014: -$1,982,5032014Assets 2015: $3,343,829Liabilities 2015: $5,373,566Net Assets 2015: -$2,029,7372015Assets 2016: $3,344,074Liabilities 2016: $5,420,367Net Assets 2016: -$2,076,2932016Assets 2017: $3,251,765Liabilities 2017: $5,350,540Net Assets 2017: -$2,098,7752017Assets 2018: $3,284,603Liabilities 2018: $5,414,336Net Assets 2018: -$2,129,7332018Assets 2019: $3,210,331Liabilities 2019: $5,438,305Net Assets 2019: -$2,227,9742019Assets 2020: $3,122,898Liabilities 2020: $5,297,087Net Assets 2020: -$2,174,1892020Assets 2021: $3,121,984Liabilities 2021: $5,229,840Net Assets 2021: -$2,107,8562021Assets 2022: $3,123,151Liabilities 2022: $5,134,031Net Assets 2022: -$2,010,8802022Assets 2023: $3,140,467Liabilities 2023: $5,017,465Net Assets 2023: -$1,876,9982023Assets 2024: $3,011,265Liabilities 2024: $4,929,944Net Assets 2024: -$1,918,6792024

Highlighted filing

2016

Assets$3,344,074
Liabilities$5,420,367
Net Assets-$2,076,293

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $564,3842010Expenses 2011: $462,4172011Expenses 2012: $442,9392012Revenue 2013: $397,388Expenses 2013: $414,937Net Income 2013: -$17,5492013Revenue 2014: $378,396Expenses 2014: $431,797Net Income 2014: -$53,4012014Revenue 2015: $393,469Expenses 2015: $440,703Net Income 2015: -$47,2342015Revenue 2016: $387,877Expenses 2016: $434,433Net Income 2016: -$46,5562016Revenue 2017: $412,905Expenses 2017: $435,387Net Income 2017: -$22,4822017Revenue 2018: $396,055Expenses 2018: $427,013Net Income 2018: -$30,9582018Revenue 2019: $338,890Expenses 2019: $437,131Net Income 2019: -$98,2412019Revenue 2020: $474,890Expenses 2020: $421,105Net Income 2020: $53,7852020Revenue 2021: $463,374Expenses 2021: $397,041Net Income 2021: $66,3332021Revenue 2022: $508,030Expenses 2022: $411,054Net Income 2022: $96,9762022Revenue 2023: $541,803Expenses 2023: $407,921Net Income 2023: $133,8822023Revenue 2024: $480,402Expenses 2024: $522,083Net Income 2024: -$41,6812024

Highlighted filing

2016

Revenue$387,877
Expenses$434,433
Net Income-$46,556
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 8, 2017
Return Version
2015v3.0
Gross Receipts
$387,877
Mission and Program Overview

Mission

Construction and management of a multi-tenant seafood processing facility at jodrey state pier in gloucester, massachusetts.

Title holding corp - seafood processing facility

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,762,932$2,653,039▼ $109,893
Savings and Temporary Cash Investments$393,526$393,526→ $0
Cash and Non-Interest-Bearing Accounts$87,260$231,103▲ $143,843
Prepaid Expenses and Deferred Charges$1,032$11,559▲ $10,527
Accounts Receivable$46,740$9,287▼ $37,453
Intangible Assets$4,408$4,149▼ $259
Total Assets$3,343,829$3,344,074▲ $245
Other Assets Total$47,931$41,411▼ $6,520
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,090,641$5,017,048▼ $73,593
Accounts Payable and Accrued Expenses$252,464$372,555▲ $120,091
Escrow Account Liability$30,461$30,506▲ $45
Deferred Revenue-$258-
Total Liabilities$5,373,566$5,420,367▲ $46,801
Net Assets / Fund Balance
Unrestricted Net Assets$-2,029,737$-2,076,293▼ $46,556
Total Net Assets Fund Balance$-2,029,737$-2,076,293▼ $46,556
Total Liabilities and Net Assets / Fund Balance$3,343,829$3,344,074▲ $245

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,650,453$2,197,535$4,847,988
Other Land Buildings$2,586$10,419$13,005
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lisa AlberghiniPresident
David MarshDirector
William GroganDirector
Patricia DeangelisClerk
Zachary GreeneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$387,877
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-46,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$387,877
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$65,266
Total Revenue per Audited Statements
$453,143
Total Revenue per Form 990
$387,877
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$434,433
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$219,295
Depreciation Depletion---$110,151
Occupancy---$46,057
Insurance---$33,407
Fees for Services Accounting---$15,300
Other Expenses---$6,565
Advertising---$2,400
Office Expenses---$1,258
Total Functional Expenses$0$0$0$434,433

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$499,699
Expenses per Audited Statements$434,433
Total Expenses per Form 990$434,433
Expenses Not Reported on Form 990$65,266
Expenses Not Reported on Financial Statements$0
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
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Entity of Which Officer Was Serving as an Officer at Time of TransactionInterest Payments on Debt Owed to MdfaNo$219,295
-Entity of Which Officer Was Serving as an Officer at Time of TransactionOrganization Subleases From MdfaNo$30,888
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 2

Lisa alberghini and william grogan, business relationship; zachary greene and patricia deangelis, business relationship.

Form 990, Part VI, Section A, Line 6

Cape ann fisheries development corporation ("cape ann") is a 501(c)(25) title holding corporation. Its sole beneficiary when formed was the massachusetts government land bank which merged to form massachusetts development finance agency ("mdfa"). The organization has two members, mdfa and planning office for urban affairs, inc., an affiliate of the catholic archdiocese of boston.

Form 990, Part VI, Section A, Line 7A

There are 5 directors, 4 are appointed by members: 2 are appointed by massachusetts development finance agency, 2 are appointed by planning office for urban affairs, and 1 is a representative of the gloucester community appointed by the other 4 directors.

Form 990, Part VI, Section B, Line 11

Board member, lisa alberghini (president) will review and approve the form 990 after it is prepared by our independent auditors. Once the form has been approved, it will be mailed to the remaining board members via certified receipt mail.

Form 990, Part VI, Section B, Line 15

There are no compensated officers or key employees.

Form 990, Part VI, Section C, Line 18

Forms 1024 and 990 are available for public inspection at the organization's office.

Form 990, Part VI, Section C, Line 19

Certain governing documents, policies and financial statements are available to the public at the organization's office.

Filing and Contact Details

Filer

Filer Name
Cape Ann Fisheries Development
EIN
04-3422217
Phone
9782831938
Address
JODREY STATE PIER - 2 STATE PIER, GLOUCESTER, MA 01930

Signing Officer

Name
Lisa Alberghini
Title
President
Phone
9782831938
Signed
2017-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Alberghini
Formed
1997
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Meyers Brothers Kalicka Pc
Address
330 WHITNEY AVE SUITE 800, HOLYOKE, MA 01040
Preparer
RUDY M D'AGOSTINO
Phone
4135368510
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

TENANT SECURITY DEPOSITS

PART X, LINE 2:

Management has evaluated tax positions against the criteria established by professional standards and believes there are no such tax positions requiring accounting recognition.

Raw XML Appendix324 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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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TENANT SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT HAS EVALUATED TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LISA ALBERGHINI AND WILLIAM GROGAN, BUSINESS RELATIONSHIP; ZACHARY GREENE AND PATRICIA DEANGELIS, BUSINESS RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CAPE ANN FISHERIES DEVELOPMENT CORPORATION ("CAPE ANN") IS A 501(C)(25) TITLE HOLDING CORPORATION. ITS SOLE BENEFICIARY WHEN FORMED WAS THE MASSACHUSETTS GOVERNMENT LAND BANK WHICH MERGED TO FORM MASSACHUSETTS DEVELOPMENT FINANCE AGENCY ("MDFA"). THE ORGANIZATION HAS TWO MEMBERS, MDFA AND PLANNING OFFICE FOR URBAN AFFAIRS, INC., AN AFFILIATE OF THE CATHOLIC ARCHDIOCESE OF BOSTON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE 5 DIRECTORS, 4 ARE APPOINTED BY MEMBERS: 2 ARE APPOINTED BY MASSACHUSETTS DEVELOPMENT FINANCE AGENCY, 2 ARE APPOINTED BY PLANNING OFFICE FOR URBAN AFFAIRS, AND 1 IS A REPRESENTATIVE OF THE GLOUCESTER COMMUNITY APPOINTED BY THE OTHER 4 DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBER, LISA ALBERGHINI (PRESIDENT) WILL REVIEW AND APPROVE THE FORM 990 AFTER IT IS PREPARED BY OUR INDEPENDENT AUDITORS. ONCE THE FORM HAS BEEN APPROVED, IT WILL BE MAILED TO THE REMAINING BOARD MEMBERS VIA CERTIFIED RECEIPT MAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE ARE NO COMPENSATED OFFICERS OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORMS 1024 AND 990 ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CERTAIN GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03343829
IRS990/TotalAssetsEOYAmt03344074
IRS990/TotalAssetsGrp/BOYAmt03343829
IRS990/TotalAssetsGrp/EOYAmt03344074
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0434433
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05373566
IRS990/TotalLiabilitiesEOYAmt05420367
IRS990/TotalLiabilitiesGrp/BOYAmt05373566
IRS990/TotalLiabilitiesGrp/EOYAmt05420367
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2029737
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2076293
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0387877
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0387877
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0387877
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03343829
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03344074
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2029737
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2076293
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0JODREY STATE PIER - 2 STATE PIER
IRS990/USAddress/CityNm0GLOUCESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001930
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA ALBERGHINI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09782831938
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CAPE ANN FISHERIES DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION C/O MASSDEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0CAPE
ReturnHeader/Filer/EIN0043422217
ReturnHeader/Filer/PhoneNum09782831938
ReturnHeader/Filer/USAddress/AddressLine1Txt0JODREY STATE PIER - 2 STATE PIER
ReturnHeader/Filer/USAddress/CityNm0GLOUCESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001930
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042713795
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MEYERS BROTHERS KALICKA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0330 WHITNEY AVE SUITE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOLYOKE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001040
ReturnHeader/PreparerPersonGrp/PhoneNum04135368510
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RUDY M D'AGOSTINO
ReturnHeader/ReturnTs02017-02-10T13:29:11-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.01$4.93$1.92$0.48$0.52$0.04
2023Detailed filing. Detailed filing data is available for this year.$3.14$5.02$1.88$0.54$0.41$0.13
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.12$5.13$2.01$0.51$0.41$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.12$5.23$2.11$0.46$0.40$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.12$5.30$2.17$0.47$0.42$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$5.44$2.23$0.34$0.44$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.28$5.41$2.13$0.40$0.43$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.25$5.35$2.10$0.41$0.44$0.02
2016Detailed filing. Detailed filing data is available for this year.$3.34$5.42$2.08$0.39$0.43$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.34$5.37$2.03$0.39$0.44$0.05
2014Detailed filing. Detailed filing data is available for this year.$3.46$5.45$1.98$0.38$0.43$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.46$5.39$1.93$0.40$0.41$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.47$5.38$1.91$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.60$5.49$1.88$0.46
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.87$5.71$0.84$0.56