Civic Intelligence

Gloucester Development Team Inc.

990 • Fiscal year 2021 • EIN 23-7383044

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 25, 2023

Organization ProfileN/A
1 Woodbury StreetGloucester, MA 01930

(978) 283-1212

Siviq Scores

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

Liabilities / Assets

18th percentile

0.01x

Higher debt load relative to assets than 18% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

51st percentile

0.16x

Higher debt load relative to revenue than 51% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

34th percentile

3.4%

Faster asset growth than 34% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

37th percentile

3.8%

Faster revenue growth than 37% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$8,913,201

Up $295,744 (+3.4%) from 2020

Net Assets

Up

$8,852,411

Up $349,958 (+4.1%) from 2020

Liabilities

Down

$60,790

Down $54,214 (-47%) from 2020

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin98th percentile

Revenue

Up

$370,428

Up $13,488 (+3.8%) from 2020

Expenses

Down

$20,470

Down $1,030 (-4.8%) from 2020

Net Income

Up

$349,958

Up $14,518 (+4.3%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$10M$5.0M$0Assets 2015: $7,187,545Liabilities 2015: $276,767Net Assets 2015: $6,910,7782015Assets 2016: $7,205,125Liabilities 2016: $10,640Net Assets 2016: $7,194,4852016Assets 2017: $7,525,021Liabilities 2017: $10,640Net Assets 2017: $7,514,3812017Assets 2018: $7,930,104Liabilities 2018: $90,004Net Assets 2018: $7,840,1002018Assets 2019: $8,262,017Liabilities 2019: $95,004Net Assets 2019: $8,167,0132019Assets 2020: $8,617,457Liabilities 2020: $115,004Net Assets 2020: $8,502,4532020Assets 2021: $8,913,201Liabilities 2021: $60,790Net Assets 2021: $8,852,4112021Assets 2022: $9,206,882Liabilities 2022: $24,000Net Assets 2022: $9,182,8822022Assets 2023: $8,357,340Liabilities 2023: $26,360Net Assets 2023: $8,330,9802023Assets 2024: $8,642,541Liabilities 2024: $5,000Net Assets 2024: $8,637,5412024Assets 2025: $8,865,626Liabilities 2025: $5,000Net Assets 2025: $8,860,6262025

Highlighted filing

2021

Assets$8,913,201
Liabilities$60,790
Net Assets$8,852,411
Open 2021 Filing

Operations Trend

Revenue Growth37th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $319,418Expenses 2015: $51,848Net Income 2015: $267,5702015Revenue 2016: $323,191Expenses 2016: $39,484Net Income 2016: $283,7072016Revenue 2017: $329,925Expenses 2017: $10,029Net Income 2017: $319,8962017Revenue 2018: $355,811Expenses 2018: $30,637Net Income 2018: $325,1742018Revenue 2019: $357,133Expenses 2019: $30,220Net Income 2019: $326,9132019Revenue 2020: $356,940Expenses 2020: $21,500Net Income 2020: $335,4402020Revenue 2021: $370,428Expenses 2021: $20,470Net Income 2021: $349,9582021Revenue 2022: $367,715Expenses 2022: $37,244Net Income 2022: $330,4712022Revenue 2023: $373,144Expenses 2023: $1,225,046Net Income 2023: -$851,9022023Revenue 2024: $382,755Expenses 2024: $76,194Net Income 2024: $306,5612024Revenue 2025: $408,198Expenses 2025: $185,113Net Income 2025: $223,0852025

Highlighted filing

2021

Revenue$370,428
Expenses$20,470
Net Income$349,958
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 25, 2023
Return Version
2021v4.1
Gross Receipts
$370,428
Mission and Program Overview

Mission

Development of low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$7,190,950$7,119,591▼ $71,359
Investments Program Related$1,379,761$1,716,052▲ $336,291
Loans From Officers Directors$54,864$0▼ $54,864
Cash and Non-Interest-Bearing Accounts$40$30,429▲ $30,389
Accounts Receivable$13,048$13,439▲ $391
Savings and Temporary Cash Investments$356$356→ $0
Total Assets$8,617,457$8,913,201▲ $295,744
Other Assets Total$33,302$33,334▲ $32
Liabilities
Accounts Payable and Accrued Expenses$60,140$60,790▲ $650
Total Liabilities$115,004$60,790▼ $54,214
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,502,453$8,852,411▲ $349,958
Total Net Assets Fund Balance$8,502,453$8,852,411▲ $349,958
Total Liabilities and Net Assets / Fund Balance$8,617,457$8,913,201▲ $295,744

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,716,052--
Other Assets Org$33,284--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Marc N SandlerPresident/director
R Kirk NoyesDirector
Astrida M CutterTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,439
Investment Income
$356,989
Other Revenue
$0
Change in Net Assets
$349,958
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,470
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
Fees for Services Accounting$0$20,190$0$20,190
Other Expenses$0$280$0$280
Total Functional Expenses$0$20,470$0$20,470
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$54,864$0▼ $54,864
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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
Filing and Contact Details

Filer

Filer Name
Gloucester Development Team Inc
EIN
23-7383044
Phone
9782831212
Address
1 WOODBURY STREET, GLOUCESTER, MA 01930
Doing Business As
Co Richard K Noyes

Signing Officer

Name
Richard K Noyes
Title
Director
Phone
9782831212
Signed
2023-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard K Noyes
Formed
1974
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Horvitz & Frisch Pc
Address
128 MAIN ST, GLOUCESTER, MA 01930
Preparer
Howard M Frischcpa
Phone
9782812639
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The form 990 is provided to the board of directors prior to filing”

Pt VI, Line 12C

“The conflict of interest policy is reviewed at least annually”

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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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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0true
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08617457
IRS990/TotalAssetsEOYAmt08913201
IRS990/TotalAssetsGrp/BOYAmt08617457
IRS990/TotalAssetsGrp/EOYAmt08913201
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020470
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt020470
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0115004
IRS990/TotalLiabilitiesEOYAmt060790
IRS990/TotalLiabilitiesGrp/BOYAmt0115004
IRS990/TotalLiabilitiesGrp/EOYAmt060790
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08502453
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08852411
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt013439
IRS990/TotalRevenueGrp/ExclusionAmt0356989
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013439
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0370428
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08913201
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0WOODBURY STREET
IRS990/USAddress/CityNm0GLOUCESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001930
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD K NOYES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09782831212
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GLOUCESTER DEVELOPMENT TEAM INC
ReturnHeader/Filer/BusinessNameControlTxt0GLOU
ReturnHeader/Filer/EIN0237383044
ReturnHeader/Filer/PhoneNum09782831212
ReturnHeader/Filer/USAddress/AddressLine1Txt01 WOODBURY STREET
ReturnHeader/Filer/USAddress/CityNm0GLOUCESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001930
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042616889
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HORVITZ & FRISCH PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0128 MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLOUCESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001930
ReturnHeader/PreparerPersonGrp/PhoneNum09782812639
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOWARD M FRISCHCPA
ReturnHeader/ReturnTs02023-11-07T09:30:24-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICHARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NOYES
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$8,913,201
Liabilities
$60,790
Net assets
$8,852,411
Revenue
$370,428
Expenses
$20,470
Net income
$349,958
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.87$0.01$8.86$0.41$0.19$0.22
2024Detailed filing. Detailed filing data is available for this year.$8.64$0.01$8.64$0.38$0.08$0.31
2023Detailed filing. Detailed filing data is available for this year.$8.36$0.03$8.33$0.37$1.23$0.85
2022Detailed filing. Detailed filing data is available for this year.$9.21$0.02$9.18$0.37$0.04$0.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.91$0.06$8.85$0.37$0.02$0.35
2020Detailed filing. Detailed filing data is available for this year.$8.62$0.12$8.50$0.36$0.02$0.34
2019Detailed filing. Detailed filing data is available for this year.$8.26$0.10$8.17$0.36$0.03$0.33
2018Detailed filing. Detailed filing data is available for this year.$7.93$0.09$7.84$0.36$0.03$0.33
2017Detailed filing. Detailed filing data is available for this year.$7.53$0.01$7.51$0.33$0.01$0.32
2016Detailed filing. Detailed filing data is available for this year.$7.21$0.01$7.19$0.32$0.04$0.28
2015Detailed filing. Detailed filing data is available for this year.$7.19$0.28$6.91$0.32$0.05$0.27