Civic Intelligence

Gloucester Development Team Inc.

990 • Fiscal year 2024 • EIN 23-7383044

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 22, 2025

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

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

15th percentile

0.01x

Higher debt load relative to revenue than 15% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

96th percentile

80%

Higher net margin than 96% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

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.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

45th percentile

3.4%

Faster asset growth than 45% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

39th percentile

2.6%

Faster revenue growth than 39% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$8,642,541

Up $285,201 (+3.4%) from 2023

Net Assets

Up

$8,637,541

Up $306,561 (+3.7%) from 2023

Liabilities

Down

$5,000

Down $21,360 (-81%) from 2023

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin96th percentile

Revenue

Up

$382,755

Up $9,611 (+2.6%) from 2023

Expenses

Down

$76,194

Down $1,148,852 (-94%) from 2023

Net Income

Up

$306,561

Up $1,158,463 (+136%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth45th 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

2024

Assets$8,642,541
Liabilities$5,000
Net Assets$8,637,541
Open 2024 Filing

Operations Trend

Revenue Growth39th 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

2024

Revenue$382,755
Expenses$76,194
Net Income$306,561
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 22, 2025
Return Version
2024v5.1
Gross Receipts
$382,755
Mission and Program Overview

Mission

Development of low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$7,324,595$7,504,130▲ $179,535
Savings and Temporary Cash Investments$355,135$1,056,872▲ $701,737
Investments Program Related$485,840$0▼ $485,840
Cash and Non-Interest-Bearing Accounts$143,948$28,339▼ $115,609
Accounts Receivable$14,258$13,842▼ $416
Total Assets$8,357,340$8,642,541▲ $285,201
Other Assets Total$33,564$39,358▲ $5,794
Liabilities
Accounts Payable and Accrued Expenses$26,360$5,000▼ $21,360
Total Liabilities$26,360$5,000▼ $21,360
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,330,980$8,637,541▲ $306,561
Total Net Assets Fund Balance$8,330,980$8,637,541▲ $306,561
Total Liabilities and Net Assets / Fund Balance$8,357,340$8,642,541▲ $285,201

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$39,308--
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
$13,842
Investment Income
$368,913
Other Revenue
$0
Change in Net Assets
$306,561
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$71,194
Grants and Similar Amounts Paid$5,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$63,000$0$0$63,000
Fees for Services Accounting$0$7,980$0$7,980
Grants to Domestic Orgs$5,000--$5,000
Other Expenses$0$199$0$199
Total Functional Expenses$68,000$8,194$0$76,194
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Richard Kirk NoyesDirectorBuilding ConsultingNo$63,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
2025-04-22
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
Brian N Wall
Address
128 Main Street Ste E, Gloucester, MA 01930
Preparer
Brian N Wall CPA
Phone
9782832500
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”

Form 990, Part IX, Line 11G

“Building consultant 63000. 63000. 0. 0.”

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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd002138
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
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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/TotalAssetsBOYAmt08357340
IRS990/TotalAssetsEOYAmt08642541
IRS990/TotalAssetsGrp/BOYAmt08357340
IRS990/TotalAssetsGrp/EOYAmt08642541
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt068000
IRS990/TotalFunctionalExpensesGrp/TotalAmt076194
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IRS990/TotalLiabilitiesBOYAmt026360
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08330980
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08637541
IRS990/TotalProgramServiceExpensesAmt068000
IRS990/TotalProgramServiceRevenueAmt013842
IRS990/TotalRevenueGrp/ExclusionAmt0368913
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013842
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0382755
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08357340
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08642541
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0GLOUCESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001930
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD K NOYES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09782831212
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-22
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/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0332578963
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Brian N Wall
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0128 Main Street Ste E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Gloucester
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001930
ReturnHeader/PreparerPersonGrp/PhoneNum09782832500
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN N WALL CPA
ReturnHeader/ReturnTs02025-04-23T10:57:31-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,642,541
Liabilities
$5,000
Net assets
$8,637,541
Revenue
$382,755
Expenses
$76,194
Net income
$306,561
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