Civic Intelligence

Nac Conservation Inc.

990 • Fiscal year 2023 • EIN 26-4548593

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 07, 2024

Organization ProfileN/A
1 New Whale StreetNantucket, MA 02554

(508) 228-2299

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.38x

Higher debt load relative to assets than 73% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

13.43x

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

97th percentile

82%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

92nd percentile

66%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

214%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$5,350,429

Up $2,123,601 (+66%) from 2022

Net Assets

Up

$3,322,177

Up $123,601 (+3.9%) from 2022

Liabilities

Up

$2,028,252

Up $2,000,000 (+7079%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin97th percentile

Revenue

Up

$150,989

Up $102,914 (+214%) from 2022

Expenses

Up

$27,388

Up $22,000 (+408%) from 2022

Net Income

Up

$123,601

Up $80,914 (+190%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$6.0M$4.0M$2.0M$0Assets 2018: $1,397,246Liabilities 2018: $28,252Net Assets 2018: $1,368,9942018Assets 2020: $3,167,728Liabilities 2020: $28,252Net Assets 2020: $3,139,4762020Assets 2021: $3,193,188Liabilities 2021: $28,252Net Assets 2021: $3,164,9362021Assets 2022: $3,226,828Liabilities 2022: $28,252Net Assets 2022: $3,198,5762022Assets 2023: $5,350,429Liabilities 2023: $2,028,252Net Assets 2023: $3,322,1772023Assets 2024: $5,246,609Liabilities 2024: $2,028,252Net Assets 2024: $3,218,3572024

Highlighted filing

2023

Assets$5,350,429
Liabilities$2,028,252
Net Assets$3,322,177
Open 2023 Filing

Operations Trend

Revenue Growth96th percentile

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

$200K$100K$0-$100KRevenue 2018: $0Expenses 2018: $4,520Net Income 2018: -$4,5202018Revenue 2020: $10,970Expenses 2020: $10,708Net Income 2020: $2622020Revenue 2021: $6,498Expenses 2021: $7,150Net Income 2021: -$6522021Revenue 2022: $48,075Expenses 2022: $5,388Net Income 2022: $42,6872022Revenue 2023: $150,989Expenses 2023: $27,388Net Income 2023: $123,6012023Revenue 2024: -$36,287Expenses 2024: $35,625Net Income 2024: -$71,9122024

Highlighted filing

2023

Revenue$150,989
Expenses$27,388
Net Income$123,601
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 7, 2024
Return Version
2023v5.1
Gross Receipts
$4,282,661
Mission and Program Overview

Mission

To buy, hold and administer real property for habitat preservation, propagation of fish and wildlife, and land conservation for charitable and educational purposes.

To buy, hold, and administer real property for habitat preservation, propogation of fish and wildlife, and land conservation for charitable and educational purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$5,015,599-
Rtn Earn Endowment Incm Other Fnds$3,198,576$3,322,177▲ $123,601
Cash and Non-Interest-Bearing Accounts$3,216,786$334,830▼ $2,881,956
Total Assets$3,226,828$5,350,429▲ $2,123,601
Other Assets Total$10,042--
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,000,000-
Other Liabilities$28,252$28,252→ $0
Total Liabilities$28,252$2,028,252▲ $2,000,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,198,576$3,322,177▲ $123,601
Total Liabilities and Net Assets / Fund Balance$3,226,828$5,350,429▲ $2,123,601

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,216,746-$4,216,746
Buildings$798,853$4,337$803,190
Equipment-$67,282$67,282
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Sheila LuceyPresident
Chris YoungVice President
Chris GlowackiDirector
Christopher BellDirector
Homer Ray IvDirector
Jim HughesDirector
Kevin RamosDirector
Jeremy SlavitzSecretary
Joe TormayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,856
Program Service Revenue
$0
Investment Income
$153,055
Other Revenue
$-7,922
All Other Contributions
$5,856
Change in Net Assets
$123,601
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$27,388
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 Legal-$9,880-$9,880
Fees for Service Investment Mgmnt Fees-$8,912-$8,912
Fees for Services Other-$5,500-$5,500
Office Expenses-$3,096-$3,096
Total Functional Expenses$0$27,388$0$27,388
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to NAC Scholarship Fund$28,252
Governance and Compliance

Governance Checklist

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

Governance Explanations

Member election for additional members Part VI line 7A

“The organizations members get to vote for the appointment of the board members.”

Governing body decisions Part VI line 7B

“The organizations members have the ability to vote on proposed decisions.”

Form 990 governing body review Part VI line 11

“A copy of the 990 is reviewed by the Board of Directors prior to submission.”

Governing documents etc available to public Part VI line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Nac Conservation Inc
EIN
26-4548593
Address
1 NEW WHALE STREET, Nantucket, MA 02554

Signing Officer

Name
Sheila Lucey
Title
President
Phone
5082282299
Signed
2024-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sheila Lucey
Formed
2009
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Michael J Gallugi CPA
Address
352 PARK STREET W206, North Reading, MA 01864
Preparer
Michael Gallugi
Phone
9786649909
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Fish stock for ponds”

Raw XML Appendix360 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organizations members get to vote for the appointment of the board members.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A copy of the 990 is reviewed by the Board of Directors prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are available upon request.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0SHEILA LUCEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05082282299
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NAC CONSERVATION INC
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ReturnHeader/ReturnTs02024-11-07T13:06:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,350,429
Liabilities
$2,028,252
Net assets
$3,322,177
Revenue
$150,989
Expenses
$27,388
Net income
$123,601
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.25$2.03$3.22$0.04$0.04$0.07
2023Detailed filing. Detailed filing data is available for this year.$5.35$2.03$3.32$0.15$0.03$0.12
2022Detailed filing. Detailed filing data is available for this year.$3.23$0.03$3.20$0.05$0.01$0.04
2021Detailed filing. Detailed filing data is available for this year.$3.19$0.03$3.16$0.01$0.01$0.00
2020Detailed filing. Detailed filing data is available for this year.$3.17$0.03$3.14$0.01$0.01$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.40$0.03$1.37$0.00$0.00$0.00