Civic Intelligence

Massachusetts Elks Scholarship Inc.

990 • Fiscal year 2015 • EIN 04-6050451

Jun 01, 2014 to May 31, 2015 • Filed on Aug 11, 2015

Organization ProfileN/A
63 Baystate RoadLynnfield, MA 01940

(781) 246-5900

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

4th percentile

0.00x

Higher debt load relative to revenue than 4% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

22nd percentile

-4.1%

Higher net margin than 22% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

43rd percentile

-0.2%

Faster asset growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

12th percentile

-24%

Faster revenue growth than 12% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets4th percentile

Assets

Down

$10,178,318

Down $20,700 (-0.2%) from 2014

Net Assets

Down

$10,178,312

Down $20,096 (-0.2%) from 2014

Liabilities

Down

$6

Down $604 (-99%) from 2014

Revenue And Expenses
Liabilities / Revenue4th percentileNet Margin22nd percentile

Revenue

Down

$490,717

Down $152,729 (-24%) from 2014

Expenses

Up

$510,813

Up $14,358 (+2.9%) from 2014

Net Income

Down

-$20,096

Down $167,087 (-114%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$15M$10M$5.0M$0Assets 2012: $9,681,500Liabilities 2012: $1,131Net Assets 2012: $9,680,3692012Assets 2013: $10,052,759Liabilities 2013: $1,342Net Assets 2013: $10,051,4172013Assets 2014: $10,199,018Liabilities 2014: $610Net Assets 2014: $10,198,4082014Assets 2015: $10,178,318Liabilities 2015: $6Net Assets 2015: $10,178,3122015Assets 2016: $9,943,131Liabilities 2016: $938Net Assets 2016: $9,942,1932016Assets 2018: $10,375,105Liabilities 2018: $2,553Net Assets 2018: $10,372,5522018Assets 2019: $10,172,359Liabilities 2019: $1,331Net Assets 2019: $10,171,0282019Assets 2020: $10,298,197Liabilities 2020: $1,435Net Assets 2020: $10,296,7622020Assets 2021: $12,056,683Liabilities 2021: $1,280Net Assets 2021: $12,055,4032021Assets 2022: $10,963,353Liabilities 2022: $1,232Net Assets 2022: $10,962,1212022Assets 2023: $10,634,586Liabilities 2023: $1,191Net Assets 2023: $10,633,3952023Assets 2024: $11,830,745Liabilities 2024: $1,709Net Assets 2024: $11,829,0362024Assets 2025: $12,315,379Liabilities 2025: $2,797Net Assets 2025: $12,312,5822025

Highlighted filing

2015

Assets$10,178,318
Liabilities$6
Net Assets$10,178,312
Open 2015 Filing

Operations Trend

Revenue Growth12th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $475,7432012Revenue 2013: $869,728Expenses 2013: $498,680Net Income 2013: $371,0482013Revenue 2014: $643,446Expenses 2014: $496,455Net Income 2014: $146,9912014Revenue 2015: $490,717Expenses 2015: $510,813Net Income 2015: -$20,0962015Revenue 2016: $224,909Expenses 2016: $461,028Net Income 2016: -$236,1192016Revenue 2018: $780,209Expenses 2018: $634,653Net Income 2018: $145,5562018Revenue 2019: $391,308Expenses 2019: $592,832Net Income 2019: -$201,5242019Revenue 2020: $765,973Expenses 2020: $640,239Net Income 2020: $125,7342020Revenue 2021: $2,319,070Expenses 2021: $560,429Net Income 2021: $1,758,6412021Revenue 2022: $1,043,534Expenses 2022: $491,147Net Income 2022: $552,3872022Revenue 2023: $967,571Expenses 2023: $456,020Net Income 2023: $511,5512023Revenue 2024: $1,195,943Expenses 2024: $503,664Net Income 2024: $692,2792024Revenue 2025: $612,733Expenses 2025: $656,091Net Income 2025: -$43,3582025

Highlighted filing

2015

Revenue$490,717
Expenses$510,813
Net Income-$20,096
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2014 to May 31, 2015
Signed
Aug 11, 2015
Return Version
2014v5.0
Gross Receipts
$490,717
Mission and Program Overview

Mission

To provide scholarships for deserving students

To provide students with tuition assistance

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$9,304,933$9,318,112▲ $13,179
Savings and Temporary Cash Investments$884,368$840,192▼ $44,176
Cash and Non-Interest-Bearing Accounts$8,082$20,014▲ $11,932
Prepaid Expenses and Deferred Charges$1,547--
Land, Buildings, and Equipment, Net$88$0▼ $88
Total Assets$10,199,018$10,178,318▼ $20,700
Liabilities
Accounts Payable and Accrued Expenses$610$6▼ $604
Total Liabilities$610$6▼ $604
Net Assets / Fund Balance
Permanently Rstr Net Assets$9,661,611$9,546,065▼ $115,546
Unrestricted Net Assets$536,797$632,247▲ $95,450
Total Net Assets Fund Balance$10,198,408$10,178,312▼ $20,096
Total Liabilities and Net Assets / Fund Balance$10,199,018$10,178,318▼ $20,700

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$20,208-
Other Securities$9,318,112--
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
John CapitaoPresident
Mark CroninState President
William Hopkins IIIVice President
Gerald BagleyDirector
Raymond A AvezzieDirector
William MinichelloDirector
Denise ShurtleffSecretary
John WhiteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$211,592
Program Service Revenue
$0
Investment Income
$236,273
Other Revenue
$42,852
All Other Contributions
$211,592
Change in Net Assets
$-20,096

Audited Revenue Reconciliation

Revenue per Audited Statements
$490,717
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$490,717
Total Revenue per Form 990
$490,717
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$359,588
Other Expenses$94,764
Salaries, Compensation, and Employee Benefits$56,461
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$359,588--$359,588
Other Salaries and Wages-$56,461-$56,461
Other Expenses$35,083$32,598-$32,598
Office Expenses-$15,295-$15,295
Fees for Services Accounting-$6,500-$6,500
Occupancy-$5,200-$5,200
Depreciation Depletion-$88-$88
Total Functional Expenses$394,671$116,142$0$510,813

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$510,813
Total Expenses per Audited Statements$510,813
Total Expenses per Form 990$510,813
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

“Organization presents a draft copy of the form 990 to the Board of Directors for questions and approval during a monthly board meeting”

Form 990, Part VI, Section B, line 12C

“The organization requires covered persons to submit an annual disclosure and diligently reviews the disclosures and compiles a list of potential conflicts for monitoring.”

Form 990, Part VI, Section C, line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Massachusetts Elks Scholarship Inc
EIN
04-6050451
Phone
7812465900
Address
63 Baystate Road, Lynnfield, MA 01940

Signing Officer

Name
John Capitao
Title
President
Phone
7812465900
Signed
2015-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Capitao
Formed
1928
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
0

Preparer

Firm
Neal A Price & Company LLP
Address
194 Newbury Street - Suite 6, Peabody, MA 01960
Preparer
Neal A PriceCPA
Phone
9788545656
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“The Organization accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability of all uncertain tax positions. Interest and penalties assessed, if any, are accrued as income tax expense. The Organization has identified its tax status as a tax exempt entity as its only tax position; however, the Organization has determined that such a tax position does not result in an uncertainty requiring recognition. The Organization is not currently under examination by any taxing jurisdiction. Its federal and state income tax returns are generally open for examination for the three years following the date filed.”

Raw XML Appendix378 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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IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020208
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt020208
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0510813
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt09318112
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Securities
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0490717
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability of all uncertain tax positions. Interest and penalties assessed, if any, are accrued as income tax expense. The Organization has identified its tax status as a tax exempt entity as its only tax position; however, the Organization has determined that such a tax position does not result in an uncertainty requiring recognition. The Organization is not currently under examination by any taxing jurisdiction. Its federal and state income tax returns are generally open for examination for the three years following the date filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt09318112
IRS990ScheduleD/TotalExpensesPerForm990Amt0510813
IRS990ScheduleD/TotalRevenuePerForm990Amt0490717
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0490717
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0510813
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0359588
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships to College Students.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0593
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Organization sends scholarship checks directly to the schools for use rather than to the actual individual to ensure that the grant funds are used for their education
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Organization presents a draft copy of the form 990 to the Board of Directors for questions and approval during a monthly board meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization requires covered persons to submit an annual disclosure and diligently reviews the disclosures and compiles a list of potential conflicts for monitoring.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Documents are available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010199018
IRS990/TotalAssetsEOYAmt010178318
IRS990/TotalAssetsGrp/BOYAmt010199018
IRS990/TotalAssetsGrp/EOYAmt010178318
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0211592
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0116142
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0394671
IRS990/TotalFunctionalExpensesGrp/TotalAmt0510813
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0610
IRS990/TotalLiabilitiesEOYAmt06
IRS990/TotalLiabilitiesGrp/BOYAmt0610
IRS990/TotalLiabilitiesGrp/EOYAmt06
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010198408
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010178312
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0394671
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0279125
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0490717
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010199018
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010178318
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0536797
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0632247
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt087 Maplewood Road
IRS990/USAddress/CityNm0Lynn
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001904
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN CAPITAO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum07812465900
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Massachusetts Elks Scholarship Inc
ReturnHeader/Filer/BusinessNameControlTxt0MASS
ReturnHeader/Filer/EIN0046050451
ReturnHeader/Filer/PhoneNum07812465900
ReturnHeader/Filer/USAddress/AddressLine1Txt063 Baystate Road
ReturnHeader/Filer/USAddress/CityNm0Lynnfield
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001940
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042934388
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Neal A Price & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0194 Newbury Street - Suite 6
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Peabody
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001960
ReturnHeader/PreparerPersonGrp/PhoneNum09788545656
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Neal A PriceCPA
ReturnHeader/ReturnTs02015-09-28T09:35:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-06-01
ReturnHeader/TaxPeriodEndDt02015-05-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,178,318
Liabilities
$6
Net assets
$10,178,312
Revenue
$490,717
Expenses
$510,813
Net income
-$20,096
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$0.00$12.3$0.61$0.66$0.04
2024Detailed filing. Detailed filing data is available for this year.$11.8$0.00$11.8$1.20$0.50$0.69
2023Detailed filing. Detailed filing data is available for this year.$10.6$0.00$10.6$0.97$0.46$0.51
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$0.00$11.0$1.04$0.49$0.55
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.1$0.00$12.1$2.32$0.56$1.76
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$0.00$10.3$0.77$0.64$0.13
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$0.00$10.2$0.39$0.59$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.4$0.00$10.4$0.78$0.63$0.15
2016Detailed filing. Detailed filing data is available for this year.$9.94$0.00$9.94$0.22$0.46$0.24
2015Detailed filing. Detailed filing data is available for this year.$10.2$0.00$10.2$0.49$0.51$0.02
2014Detailed filing. Detailed filing data is available for this year.$10.2$0.00$10.2$0.64$0.50$0.15
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$10.1$0.00$10.1$0.87$0.50$0.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.68$0.00$9.68$0.48