Civic Intelligence

The Gloucester Fund Inc

990 • Fiscal year 2023 • EIN 04-3521016

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 19, 2024

Organization ProfileWWW.THEGLOUCESTERFUND.ORG
45 Middle Street 2Gloucester, MA 01930

(978) 281-2822

Siviq Scores

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

Liabilities / Assets

78th percentile

0.08x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.13x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

65th percentile

13%

Higher net margin than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

61st percentile

8.0%

Faster asset growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-14%

Faster revenue growth than 29% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$326,518

Up $24,239 (+8.0%) from 2022

Net Assets

Up

$301,518

Up $24,239 (+8.7%) from 2022

Liabilities

Flat

$25,000

Flat from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin65th percentile

Revenue

Down

$188,469

Down $31,736 (-14%) from 2022

Expenses

Up

$164,230

Up $20,767 (+14%) from 2022

Net Income

Down

$24,239

Down $52,503 (-68%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$400K$300K$200K$100K$0Assets 2010: $31,628Liabilities 2010: $02010Assets 2011: $73,122Liabilities 2011: $0Net Assets 2011: $73,1222011Assets 2012: $142,029Liabilities 2012: $0Net Assets 2012: $142,0292012Assets 2013: $58,489Liabilities 2013: $0Net Assets 2013: $58,4892013Assets 2014: $85,918Liabilities 2014: $0Net Assets 2014: $85,9182014Assets 2015: $125,470Liabilities 2015: $0Net Assets 2015: $125,4702015Assets 2016: $153,662Liabilities 2016: $0Net Assets 2016: $153,6622016Assets 2017: $109,182Liabilities 2017: $0Net Assets 2017: $109,1822017Assets 2018: $243,709Liabilities 2018: $0Net Assets 2018: $243,7092018Assets 2019: $136,316Liabilities 2019: $0Net Assets 2019: $136,3162019Assets 2020: $138,547Liabilities 2020: $0Net Assets 2020: $138,5472020Assets 2021: $205,037Liabilities 2021: $0Net Assets 2021: $205,0372021Assets 2022: $302,279Liabilities 2022: $25,000Net Assets 2022: $277,2792022Assets 2023: $326,518Liabilities 2023: $25,000Net Assets 2023: $301,5182023Assets 2024: $332,330Liabilities 2024: $0Net Assets 2024: $332,3302024

Highlighted filing

2023

Assets$326,518
Liabilities$25,000
Net Assets$301,518
Open 2023 Filing

Operations Trend

Revenue Growth29th percentile

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

$400K$200K$0-$200KRevenue 2010: $86,355Expenses 2010: $90,638Net Income 2010: -$4,2832010Revenue 2011: $94,647Expenses 2011: $53,153Net Income 2011: $41,4942011Revenue 2012: $252,026Expenses 2012: $183,119Net Income 2012: $68,9072012Revenue 2013: $166,000Expenses 2013: $249,540Net Income 2013: -$83,5402013Revenue 2014: $125,761Expenses 2014: $98,307Net Income 2014: $27,4542014Revenue 2015: $251,803Expenses 2015: $212,251Net Income 2015: $39,5522015Revenue 2016: $324,598Expenses 2016: $296,406Net Income 2016: $28,1922016Revenue 2017: $196,054Expenses 2017: $240,534Net Income 2017: -$44,4802017Revenue 2018: $317,572Expenses 2018: $183,045Net Income 2018: $134,5272018Revenue 2019: $185,571Expenses 2019: $292,964Net Income 2019: -$107,3932019Revenue 2020: $104,110Expenses 2020: $101,879Net Income 2020: $2,2312020Revenue 2021: $260,407Expenses 2021: $193,917Net Income 2021: $66,4902021Revenue 2022: $220,205Expenses 2022: $143,463Net Income 2022: $76,7422022Revenue 2023: $188,469Expenses 2023: $164,230Net Income 2023: $24,2392023Revenue 2024: $209,678Expenses 2024: $178,867Net Income 2024: $30,8112024

Highlighted filing

2023

Revenue$188,469
Expenses$164,230
Net Income$24,239
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 19, 2024
Return Version
2023v5.1
Gross Receipts
$188,469
Mission and Program Overview

Mission

To promote civic, cultural, educational, athletic and benevolent purposes or activities in benefit of the citizens of gloucester, massachusetts. The organization's motto is "partnering with the community to benefit the community".

Promote civic, cultural, educational, athletic & benevolent purposes in gloucester, ma.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$302,279$321,518▲ $19,239
Rtn Earn Endowment Incm Other Fnds$277,279$301,518▲ $24,239
Loans From Officers Directors$25,000$25,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$302,279$326,518▲ $24,239
Other Assets Total$0$5,000▲ $5,000
Liabilities
Total Liabilities$25,000$25,000→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$277,279$301,518▲ $24,239
Total Liabilities and Net Assets / Fund Balance$302,279$326,518▲ $24,239
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Barrett S PettPresident & Director
Frances MondelloClerk & Director
Eugene P Mondello JrDirector
Brent a TarrTreasurer & Director
Revenue and Support

Revenue Composition

Contributions and Grants
$187,669
Program Service Revenue
$0
Investment Income
$800
Other Revenue
$0
All Other Contributions
$179,669
Change in Net Assets
$24,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$158,705
Grants and Similar Amounts Paid$5,525
Total Fundraising Expense$283
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$10,000-$10,000
Other Expenses$6,300-$283$6,300
Grants to Domestic Individuals$4,025--$4,025
Grants to Domestic Orgs$1,500--$1,500
All Other Expenses$894--$894
Office Expenses-$31-$31
Total Functional Expenses$153,916$10,031$283$164,230
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$25,000$25,000→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“Two of the directors, frances mondello and eugene mondello, are married to each other.”

Form 990, Part VI, Section B, Line 11B

“The organization's president, barrett s. Pett, reviews the form 990.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing document, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Gloucester Fund Inc
EIN
04-3521016
Phone
9782812822
Address
45 MIDDLE STREET 2, GLOUCESTER, MA 01930

Signing Officer

Name
Barrett S Pett
Title
President
Phone
9782812822
Signed
2024-11-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barrett S Pett
Formed
2000
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Julie a Sidon CPA Mst
Address
55 MAIN STREET, GLOUCESTER, MA 01930
Preparer
Julie a Sidon CPA Mst
Phone
9782829900
Raw XML Appendix346 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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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt055000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0BARRETT S PETT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/TotalBalanceDueAmt025000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO OF THE DIRECTORS, FRANCES MONDELLO AND EUGENE MONDELLO, ARE MARRIED TO EACH OTHER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S PRESIDENT, BARRETT S. PETT, REVIEWS THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENT, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0302279
IRS990/TotalAssetsEOYAmt0326518
IRS990/TotalAssetsGrp/BOYAmt0302279
IRS990/TotalAssetsGrp/EOYAmt0326518
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0187669
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0283
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010031
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0153916
IRS990/TotalFunctionalExpensesGrp/TotalAmt0164230
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025000
IRS990/TotalLiabilitiesEOYAmt025000
IRS990/TotalLiabilitiesGrp/BOYAmt025000
IRS990/TotalLiabilitiesGrp/EOYAmt025000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0277279
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0301518
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt06300
IRS990/TotalOtherProgSrvcRevenueAmt05000
IRS990/TotalProgramServiceExpensesAmt0153916
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0188469
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0302279
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0326518
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt045 MIDDLE STREET
IRS990/USAddress/CityNm0GLOUCESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001930
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.THEGLOUCESTERFUND.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BARRETT S PETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09782812822
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE GLOUCESTER FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0GLOU
ReturnHeader/Filer/EIN0043521016
ReturnHeader/Filer/PhoneNum09782812822
ReturnHeader/Filer/USAddress/AddressLine1Txt045 MIDDLE STREET 2
ReturnHeader/Filer/USAddress/CityNm0GLOUCESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001930
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042689253
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JULIE A SIDON CPA MST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt055 MAIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLOUCESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001930
ReturnHeader/PreparerPersonGrp/PhoneNum09782829900
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JULIE A SIDON CPA MST
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-11-19T16:56:16-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$326,518
Liabilities
$25,000
Net assets
$301,518
Revenue
$188,469
Expenses
$164,230
Net income
$24,239
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.32$0.00$3.32$2.10$1.79$0.31
2023Detailed filing. Detailed filing data is available for this year.$3.27$0.25$3.02$1.88$1.64$0.24
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.02$0.25$2.77$2.20$1.43$0.77
2021Detailed filing. Detailed filing data is available for this year.$2.05$0.00$2.05$2.60$1.94$0.66
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$0.00$1.39$1.04$1.02$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$1.86$2.93$1.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.44$0.00$2.44$3.18$1.83$1.35
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.00$1.09$1.96$2.41$0.44
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$0.00$1.54$3.25$2.96$0.28
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.25$0.00$1.25$2.52$2.12$0.40
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.86$0.00$0.86$1.26$0.98$0.27
2013Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$1.66$2.50$0.84
2012Summary only. Only limited summary data is available for this year.$1.42$0.00$1.42$2.52$1.83$0.69
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.00$0.73$0.95$0.53$0.41
2010Summary only. Only limited summary data is available for this year.$0.32$0.00$0.86$0.91$0.04
Peer Organizations

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