Liabilities / Assets
27th percentile
Higher debt load relative to assets than 27% of similar nonprofits.
Taunton Development Massdevelopment Corporation
990 • Fiscal year 2016 • EIN 45-3951613
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.06x
Liabilities / Revenue
37th percentile
Higher debt load relative to revenue than 37% of similar nonprofits.
Net Margin
99th percentile
Higher net margin than 99% of similar nonprofits.
Top Officer Pay
73rd percentile
Higher top officer pay than 73% of similar nonprofits.
Top officer pay equals 5.0% of source-year revenue.
Asset Growth
3rd percentile
Faster asset growth than 3% of similar nonprofits.
Revenue Growth
93rd percentile
Faster revenue growth than 93% of similar nonprofits.
Balance Sheet
Assets
Down$13,393,199
Down $3,904,308 (-23%) from 2015
Net Assets
Up$12,609,102
Up $5,114,445 (+68%) from 2015
Liabilities
Down$784,097
Down $9,018,753 (-92%) from 2015
Revenue And Expenses
Revenue
Up$5,263,610
Up $2,293,803 (+77%) from 2015
Expenses
Down$149,165
Down $279,505 (-65%) from 2015
Net Income
Up$5,114,445
Up $2,573,308 (+101%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2015 to Jun 30, 2016
- Signed
- Nov 4, 2016
- Return Version
- 2015v2.1
- Gross Receipts
- $18,839,337
Mission and Program Overview
Mission
The principle charitable purpose of taunton development/massdevelopment corporation ("the corporation") is to promote economic development and to lessen the burdens of government by redeveloping land that was part of the former paul a. Dever school.
The principle charitable purpose of taunton development/massdevelopment corporation ("the corporation") is to promote economic development and to lessen the burdens of government by redeveloping land that was part of the former paul a. Dever school in taunton, massachusetts.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $6,529,148 | $8,373,698 | ▲ $1,844,550 |
| Savings and Temporary Cash Investments | $4,484,496 | $0 | ▼ $4,484,496 |
| Cash and Non-Interest-Bearing Accounts | $5,576,724 | $4,408,248 | ▼ $1,168,476 |
| Pledges and Grants Receivable | $566,374 | $515,994 | ▼ $50,380 |
| Prepaid Expenses and Deferred Charges | $96,199 | $73,996 | ▼ $22,203 |
| Accounts Receivable | $9,566 | $3,263 | ▼ $6,303 |
| Total Assets | $17,297,507 | $13,393,199 | ▼ $3,904,308 |
| Other Assets Total | $35,000 | $18,000 | ▼ $17,000 |
| Liabilities | |||
| Deferred Revenue | $2,730,517 | $0 | ▼ $2,730,517 |
| Other Liabilities | $6,012,578 | $758,622 | ▼ $5,253,956 |
| Accounts Payable and Accrued Expenses | $1,059,755 | $25,475 | ▼ $1,034,280 |
| Total Liabilities | $9,802,850 | $784,097 | ▼ $9,018,753 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $7,494,657 | $12,609,102 | ▲ $5,114,445 |
| Total Liabilities and Net Assets / Fund Balance | $17,297,507 | $13,393,199 | ▼ $3,904,308 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Land Buildings | $8,373,696 | - | $8,373,696 |
| Equipment | $0 | $46,908 | $46,908 |
| Land | $2 | - | $2 |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| Larry Cameron | VP/director | $107,684 | $107,684 |
Board Members and Trustees
| Name | Title |
|---|---|
| Richard Henderson | President/director |
| Michael Miller | Clerk/director |
| Simon Gerlin | Treasurer/director |
| Daniel Derosa | VP/director |
| Louis Ricciardi | VP/director |
| Victor Santos | VP/director |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Jr Vinagro Corp | Demolition | 2208 PLAINFIELD PIKE, Johnston, RI 02919 | $4,434,791 |
| Weston & Sampson | Consulting Services | 5 CENNTENNIAL DRIVE, Peabody, MA 01960 | $354,970 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,428,082
- Program Service Revenue
- $84,547
- Investment Income
- $-249,019
- Other Revenue
- $0
- All Other Contributions
- $3,822,624
- Change in Net Assets
- $5,114,445
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $149,165 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Insurance | - | $93,172 | - | $93,172 |
| Other Expenses | $37,334 | - | - | $37,334 |
| Interest | - | $8,770 | - | $8,770 |
| Depreciation Depletion | $5,140 | - | - | $5,140 |
| Fees for Services Accounting | - | $4,749 | - | $4,749 |
| Total Functional Expenses | $42,474 | $106,691 | $0 | $149,165 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Due to Massdevelopment | $637,407 |
| Retainage - Taunton Development | $67,208 |
| Loan Payable to Taunton Development Corp. | $26,080 |
| Loan Payable to Massdevelopment | $25,927 |
| Deposits - Taunton Development | $2,000 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- 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
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 6
“Massachusetts development finance agency and taunton development corporation serve as members of the corporation. Each has authority to appoint members of the corporation's board of directors. The corporation may also engage these organizations to provide administrative or operational services in connection with the corporation's proposed activities as disclosed on form 990, part iii, line 4.”
Form 990, Part VI, Section A, Line 7A
“Under the by-laws of the corporation, board member are appointed by the members.”
Form 990, Part VI, Section A, Line 7B
“The powers of the members of the corporation are the following: -to make and accept contributions, whether capital or charitable -to lend funds to the corporation -to appoint individuals to the board of directors with taunton development corporation having the power to appoint three (3) directors and massachusetts development finance agency having the power to appoint (4) directors. -to complete any tasks that the board of directors of any committee of the board fails to complete -to dissolve the corporation by a two-thirds majority vote of the members -to amend the articles of organization by a two-thirds majority vote of the members -to perform such other and further duties as are reserved to the members of a corporation pursuant to chapter 180 of the massachusetts general laws.”
Form 990, Part VI, Section A, Line 8B
“The organization has board committees, which met during the fiscal year and made decisions on some operational matters; however, all major decisions of the organization were made by the board of directors and reflected in the minutes of their meetings.”
Form 990, Part VI, Section B, Line 11
“The corporation has a paid preparer for the return. The prepared return is reviewed by finance and legal counsel at massachusetts development finance agency prior to filing.”
Form 990, Part VI, Section B, Line 12C
“The organization has a board approved conflict of interest policy covering all board members, officers and employees. All officers and board members are asked to report annually whether or not they have any potential conflict. Each reported conflict is reviewed and any persons determined to have a conflict is removed from any affected decision making process.”
Form 990, Part VI, Section B, Line 15
“The compensation and benefits reported in part vii are determined by massachusetts development finance agency, a related organization.”
Form 990, Part VI, Section C, Line 19
“The organization's governing documents, conflict of interest policy, form 990, and financial statements are available to the public upon request for the same period of disclosure as set forth in section 6104(d). The form 990 is also available via guidestar and the massachusetts office of attorney general's website.”
FORM 990, PART VI, LINE 13 & 14:
“The corporation does not have formal document retention or whistleblower policies. Mdfa does have document retention policy and holds most of taunton development corp. Documents and follows the mdfa document retention policy.”
Filing and Contact Details
Filer
- Filer Name
- Taunton Developmentmassdevelopment
- EIN
- 45-3951613
- Phone
- 6173302000
- Address
- 99 HIGH STREET, BOSTON, MA 02110
Signing Officer
- Name
- Simon Gerlin
- Title
- Treasurer/director
- Phone
- 6173302000
- Signed
- 2016-11-04
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Richard Cj Henderson
- Formed
- 2011
- Legal Domicile
- Ma
- Voting Board Members
- 7
- Independent Board Members
- 3
- Employees
- 0
- Volunteers
- 3
Preparer
- Firm
- Rsm US Llp
- Address
- 80 CITY SQUARE, BOSTON, MA 02129-3742
- Preparer
- Lynne Johnson
- Phone
- 6179129000
Raw XML AppendixShowing 400 of 546 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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| IRS990/Desc | 0 | TAUNTON DEVELOPMENT/MASSDEVELOPMENT CORPORATION WAS FORMED TO OWN AND REDEVELOP THE FORMER DEVER STATE SCHOOL CORE CAMPUS IN TAUNTON, MA. THE PROPERTY CONSISTS OF APPROXIMATELY 220 ACRES WITH APPROXIMATELY 40 DILAPIDATED BUILDINGS AND UNDERGROUND TUNNELS. REDEVELOPMENT WORK ON THE PROPERTY BEGAN IN FISCAL YEAR 2012. REDEVELOPMENT CONSISTS OF BUILDING ROADS AND UTILITIES INFRASTRUCTURE, OBTAINING PERMITS, AND SELLING DEVELOPMENT-READY PARCELS OF LAND TO COMPANIES AND OTHERS TO GENERATE JOB CREATION AND JOB TRAINING/SKILLS DEVELOPMENT. |
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| IRS990/MissionDesc | 0 | THE PRINCIPLE CHARITABLE PURPOSE OF TAUNTON DEVELOPMENT/MASSDEVELOPMENT CORPORATION ("THE CORPORATION") IS TO PROMOTE ECONOMIC DEVELOPMENT AND TO LESSEN THE BURDENS OF GOVERNMENT BY REDEVELOPING LAND THAT WAS PART OF THE FORMER PAUL A. DEVER SCHOOL IN TAUNTON, MASSACHUSETTS. |
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| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 35000 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 18000 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | PROPERTY MAINTENANCE |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 37334 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 37334 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 6012578 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 758622 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 566374 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 515994 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 96199 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 73996 |
| IRS990/PrincipalOfficerNm | 0 | RICHARD CJ HENDERSON |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 531120 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | LEASE INCOME |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 84547 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 84547 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 1895623 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 219294 |
| IRS990/PYOtherExpensesAmt | 0 | 428670 |
| IRS990/PYOtherRevenueAmt | 0 | 747526 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 107364 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 2541137 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 428670 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 2969807 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 5114445 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RelatedOrganizationsAmt | 0 | 1605458 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 84547 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 4484496 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 0 |
| IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/First5Years509Ind | 0 | X |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 5428082 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 1895623 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 92290 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 4304758 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 376665 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 12097418 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 1436 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 16 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 12 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 1464 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 84547 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 107364 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 143749 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 143787 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 479447 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt | 0 | 0 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt | 0 | 747526 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt | 0 | 347797 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt | 0 | 264534 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt | 0 | 42521 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt | 0 | 1402378 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 1436 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt | 0 | 16 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt | 0 | 12 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 1464 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 13979243 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 5512629 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 2750513 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 583836 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 4713079 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 419186 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 13979243 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 5514065 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 2750513 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 583852 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 4713091 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 419186 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 13980707 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 46908 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 46908 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 2 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 2 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 8373696 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 8373696 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 25927 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 26080 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 2000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 67208 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 4 | 637407 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | LOAN PAYABLE TO MASSDEVELOPMENT |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | LOAN PAYABLE TO TAUNTON DEVELOPMENT CORP. |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | DEPOSITS - TAUNTON DEVELOPMENT |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 3 | RETAINAGE - TAUNTON DEVELOPMENT |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 4 | DUE TO MASSDEVELOPMENT |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 8373698 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 758622 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | 0 |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | 0 |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 214662 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 1 | 208516 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 2 | 164075 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 24708 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 1 | 24151 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 2 | 17509 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 22358 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 1 | 25364 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 2 | 18583 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | RICHARD HENDERSON |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 1 | SIMON GERLIN |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 2 | MICHAEL MILLER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT/DIRECTOR |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 1 | TREASURER/DIRECTOR |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 2 | CLERK/DIRECTOR |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 2 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 261728 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 1 | 258031 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 2 | 200167 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY AND TAUNTON DEVELOPMENT CORPORATION SERVE AS MEMBERS OF THE CORPORATION. EACH HAS AUTHORITY TO APPOINT MEMBERS OF THE CORPORATION'S BOARD OF DIRECTORS. THE CORPORATION MAY ALSO ENGAGE THESE ORGANIZATIONS TO PROVIDE ADMINISTRATIVE OR OPERATIONAL SERVICES IN CONNECTION WITH THE CORPORATION'S PROPOSED ACTIVITIES AS DISCLOSED ON FORM 990, PART III, LINE 4. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | UNDER THE BY-LAWS OF THE CORPORATION, BOARD MEMBER ARE APPOINTED BY THE MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE POWERS OF THE MEMBERS OF THE CORPORATION ARE THE FOLLOWING: -TO MAKE AND ACCEPT CONTRIBUTIONS, WHETHER CAPITAL OR CHARITABLE -TO LEND FUNDS TO THE CORPORATION -TO APPOINT INDIVIDUALS TO THE BOARD OF DIRECTORS WITH TAUNTON DEVELOPMENT CORPORATION HAVING THE POWER TO APPOINT THREE (3) DIRECTORS AND MASSACHUSETTS DEVELOPMENT FINANCE AGENCY HAVING THE POWER TO APPOINT (4) DIRECTORS. -TO COMPLETE ANY TASKS THAT THE BOARD OF DIRECTORS OF ANY COMMITTEE OF THE BOARD FAILS TO COMPLETE -TO DISSOLVE THE CORPORATION BY A TWO-THIRDS MAJORITY VOTE OF THE MEMBERS -TO AMEND THE ARTICLES OF ORGANIZATION BY A TWO-THIRDS MAJORITY VOTE OF THE MEMBERS -TO PERFORM SUCH OTHER AND FURTHER DUTIES AS ARE RESERVED TO THE MEMBERS OF A CORPORATION PURSUANT TO CHAPTER 180 OF THE MASSACHUSETTS GENERAL LAWS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE ORGANIZATION HAS BOARD COMMITTEES, WHICH MET DURING THE FISCAL YEAR AND MADE DECISIONS ON SOME OPERATIONAL MATTERS; HOWEVER, ALL MAJOR DECISIONS OF THE ORGANIZATION WERE MADE BY THE BOARD OF DIRECTORS AND REFLECTED IN THE MINUTES OF THEIR MEETINGS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE CORPORATION HAS A PAID PREPARER FOR THE RETURN. THE PREPARED RETURN IS REVIEWED BY FINANCE AND LEGAL COUNSEL AT MASSACHUSETTS DEVELOPMENT FINANCE AGENCY PRIOR TO FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE ORGANIZATION HAS A BOARD APPROVED CONFLICT OF INTEREST POLICY COVERING ALL BOARD MEMBERS, OFFICERS AND EMPLOYEES. ALL OFFICERS AND BOARD MEMBERS ARE ASKED TO REPORT ANNUALLY WHETHER OR NOT THEY HAVE ANY POTENTIAL CONFLICT. EACH REPORTED CONFLICT IS REVIEWED AND ANY PERSONS DETERMINED TO HAVE A CONFLICT IS REMOVED FROM ANY AFFECTED DECISION MAKING PROCESS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE COMPENSATION AND BENEFITS REPORTED IN PART VII ARE DETERMINED BY MASSACHUSETTS DEVELOPMENT FINANCE AGENCY, A RELATED ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE FORM 990 IS ALSO AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS OFFICE OF ATTORNEY GENERAL'S WEBSITE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | THE CORPORATION DOES NOT HAVE FORMAL DOCUMENT RETENTION OR WHISTLEBLOWER POLICIES. MDFA DOES HAVE DOCUMENT RETENTION POLICY AND HOLDS MOST OF TAUNTON DEVELOPMENT CORP. DOCUMENTS AND FOLLOWS THE MDFA DOCUMENT RETENTION POLICY. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION A, LINE 8B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 12C |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $13,393,199
- Liabilities
- $784,097
- Net assets
- $12,609,102
- Revenue
- $5,263,610
- Expenses
- $149,165
- Net income
- $5,114,445