Civic Intelligence

Washburn Park Inc

990 • Fiscal year 2013 • EIN 27-1189816

Jul 01, 2012 to Jun 30, 2013 • Filed on May 09, 2014

Organization ProfileN/A
100 Institute Road01609
Siviq Scores

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

Liabilities / Assets

81st percentile

0.70x

Higher debt load relative to assets than 81% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

27th percentile

-1.6%

Faster asset growth than 27% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$12,303,679

Down $204,693 (-1.6%) from 2012

Net Assets

Down

$3,687,517

Down $550,982 (-13%) from 2012

Liabilities

Up

$8,616,162

Up $346,289 (+4.2%) from 2012

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$805,950

Up $19,638 (+2.5%) from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$60M$40M$20M$0-$20MAssets 2012: $12,508,372Liabilities 2012: $8,269,873Net Assets 2012: $4,238,4992012Assets 2013: $12,303,679Liabilities 2013: $8,616,162Net Assets 2013: $3,687,5172013Assets 2014: $45,423,690Liabilities 2014: $8,878,525Net Assets 2014: $36,545,1652014Assets 2015: $43,509,655Liabilities 2015: $9,113,205Net Assets 2015: $34,396,4502015Assets 2016: $42,239,151Liabilities 2016: $9,357,425Net Assets 2016: $32,881,7262016Assets 2017: $40,968,648Liabilities 2017: $9,609,385Net Assets 2017: $31,359,2632017Assets 2018: $42,445,161Liabilities 2018: $9,880,924Net Assets 2018: $32,564,2372018Assets 2019: $41,098,882Liabilities 2019: $10,166,159Net Assets 2019: $30,932,7232019Assets 2020: $39,764,653Liabilities 2020: $10,420,274Net Assets 2020: $29,344,3792020Assets 2021: $38,431,924Liabilities 2021: $10,637,257Net Assets 2021: $27,794,6672021Assets 2022: $37,099,195Liabilities 2022: $10,848,650Net Assets 2022: $26,250,5452022Assets 2023: $0Liabilities 2023: $5,655,690Net Assets 2023: -$5,655,6902023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2013

Assets$12,303,679
Liabilities$8,616,162
Net Assets$3,687,517
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2012: $786,3122012Expenses 2013: $805,9502013Revenue 2014: $267,083Expenses 2014: $686,062Net Income 2014: -$418,9792014Revenue 2015: $719,079Expenses 2015: $2,867,794Net Income 2015: -$2,148,7152015Revenue 2016: $811,169Expenses 2016: $2,325,893Net Income 2016: -$1,514,7242016Revenue 2017: $822,795Expenses 2017: $2,345,258Net Income 2017: -$1,522,4632017Revenue 2018: $878,878Expenses 2018: $2,437,133Net Income 2018: -$1,558,2552018Revenue 2019: $848,703Expenses 2019: $2,480,217Net Income 2019: -$1,631,5142019Revenue 2020: $789,962Expenses 2020: $2,378,306Net Income 2020: -$1,588,3442020Revenue 2021: $486,220Expenses 2021: $2,035,932Net Income 2021: -$1,549,7122021Revenue 2022: $492,483Expenses 2022: $2,036,605Net Income 2022: -$1,544,1222022Revenue 2023: $521,755Expenses 2023: $2,037,096Net Income 2023: -$1,515,3412023Revenue 2024: $0Expenses 2024: $269Net Income 2024: -$2692024

Highlighted filing

2013

Revenue-
Expenses$805,950
Net Income-
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
May 9, 2014
Return Version
2012v2.0
Gross Receipts
$254,968
Mission and Program Overview

Mission

To operate exclusively for charitable purposes by assisting economic development by providing office space, infrastructure and parking facilities in a distressed area relieving the burden of government.

Filing and Contact Details

Filer

EIN
27-1189816
Raw XML AppendixShowing 400 of 466 raw XML fields

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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0Washburn Park Inc is generally exempt from federal and state income taxes. Management annually reviews for uncertain tax positions along with any related interest and penalties and believes that Washburn Park Inc has no uncertain tax positions that would have a material adverse effect, individually or in the aggregate, upon the consolidated statements of financial position, or the related consolidated statements of activities, or cash flows.
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0Line 4a - Dennis Berkey's service as president of Worcester Polytechnic Institute ended in May 2013. His agreement provides for 13 months of severance payments. During the fiscal year ended June 30, 2013, Dr. Berkey received severance in the amount of $47,500. Line 4b - For Jeffrey Solomon, Executive Vice President and CFO of Worcester Polytechnic Institute, an excess retirement contribition of $15,620 was accrued and is subject to a substantial risk of forfeiture until June 30, 2015.
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation1The compensation committee of the Worcester Polytechnic Institute (WPI) Board of Trustees has a pay-for-performance philosophy in determining executive compensation. Dennis Berkey, President of WPI, is eligible for a performance incentive based on performance criteria set by the committee, In calendar year 2012, the payment by WPI was $139,200. Another plan that is part of the philosoghy is the "VP Retention Plan". Each year, a vice president may earn up to 12.5% salary and excess retirement contributions, subject to a three year risk of forfieture. These amounts are all non-fixed payments. Jeffrey Solomon, Executive Vice President and CFO of WPI, earned a VP incentive of $49,000 during the calendar year ended 2012. The incentive is included in deferred compensation.
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IRS990ScheduleO/GeneralExplanation/Explanation0Prior to filing Form 990, management reviews the completed Form 990 with the audit committee of the Worcester Polytechnic Institute Board of Trustees. After approval by the audit committee, management provides the form to all trustees for review prior to filing.
IRS990ScheduleO/GeneralExplanation/Explanation1As part of the Worcester Polytechnic Institute (WPI) conflict of interest policy, all trustees of Washburn Park Inc are asked to outline in a separate letter any possible conflict of interest and any significant financial interest with WPI or any WPI-related entity. All annual disclosure statements are submitted to the WPI university compliance officer who reviews them, consolidates the comments and presents a report to the WPI audit committee. Upon receipt of the compliance officer's report, the audit committee reviews the findings and takes any necessary and appropriate actions. The audit committee then reports to the full WPI Board of Trustees any findings and actions taken by the committee. Any trustee with a conflict of interest recuses himself or herself from any Board or committee decisions related to that conflict.
IRS990ScheduleO/GeneralExplanation/Explanation2The governing documents of Washburn Park Inc are available upon written request to: Worcester Polytechnic Institute c/o Jeffrey Solomon, 100 Institute Road, Worcester, MA 01609.
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IRS990ScheduleR/ReimbursementPaidByOtherOrg00
IRS990ScheduleR/ReimbursementPaidToOtherOrg00
IRS990ScheduleR/RentalOfFacilitiesFrOtherOrgs00
IRS990ScheduleR/RentalOfFacilitiesToOtherOrgs01
IRS990ScheduleR/SaleOfAssetsToOtherOrg00
IRS990ScheduleR/SharingOfFacilities00
IRS990ScheduleR/SharingOfPaidEmployees00
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0MA
IRS990/StatesWhereCopyOfReturnIsFiled0MA
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/TemporarilyRestrictedNetAssets/BOY00
IRS990/TemporarilyRestrictedNetAssets/EOY00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10100 Institute Road
IRS990/TheBooksAreInCareOf/AddressUS/City0Worcester
IRS990/TheBooksAreInCareOf/AddressUS/State0MA
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode001609
IRS990/TheBooksAreInCareOf/NamePerson0Charlene Bellows
IRS990/TheBooksAreInCareOf/TelephoneNumber05088315577
IRS990/TotalAssets/BOY012508372
IRS990/TotalAssetsBOY012508372
IRS990/TotalAssets/EOY012303679
IRS990/TotalAssetsEOY012303679
IRS990/TotalCompGT150K01
IRS990/TotalContributions00
IRS990/TotalExpensesCurrentYear0805950

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$12,303,679
Liabilities
$8,616,162
Net assets
$3,687,517
Revenue
-
Expenses
$805,950
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$5.66$5.66$0.52$2.04$1.52
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.1$10.8$26.3$0.49$2.04$1.54
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.4$10.6$27.8$0.49$2.04$1.55
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.8$10.4$29.3$0.79$2.38$1.59
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.1$10.2$30.9$0.85$2.48$1.63
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.4$9.88$32.6$0.88$2.44$1.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.0$9.61$31.4$0.82$2.35$1.52
2016Detailed filing. Detailed filing data is available for this year.$42.2$9.36$32.9$0.81$2.33$1.51
2015Detailed filing. Detailed filing data is available for this year.$43.5$9.11$34.4$0.72$2.87$2.15
2014Detailed filing. Detailed filing data is available for this year.$45.4$8.88$36.5$0.27$0.69$0.42
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$8.62$3.69$0.81
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$8.27$4.24$0.79
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)3 • $10M-$25M nonprofits