Civic Intelligence

Utec Hub Inc.

990 • Fiscal year 2020 • EIN 47-3295619

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 05, 2021

15 Warren Street No 3Lowell, MA 01852

(978) 441-9949

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.03x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

15.08x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

16th percentile

-15%

Higher net margin than 16% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

57th percentile

$135,811

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 34.2% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

28th percentile

-0.3%

Faster asset growth than 28% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

32nd percentile

-7.1%

Faster revenue growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Down

$5,806,638

Down $17,368 (-0.3%) from 2019

Net Assets

Down

-$178,049

Down $59,887 (-51%) from 2019

Liabilities

Up

$5,984,687

Up $42,519 (+0.7%) from 2019

Revenue

Down

$396,800

Down $30,277 (-7.1%) from 2019

Expenses

Down

$456,687

Down $1,269 (-0.3%) from 2019

Net Income

Down

-$59,887

Down $29,008 (-94%) from 2019

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2015: $6,412,853Liabilities 2015: $6,384,970Net Assets 2015: $27,8832015Assets 2016: $6,389,385Liabilities 2016: $6,419,538Net Assets 2016: -$30,1532016Assets 2017: $6,282,556Liabilities 2017: $6,296,935Net Assets 2017: -$14,3792017Assets 2018: $5,869,432Liabilities 2018: $5,956,715Net Assets 2018: -$87,2832018Assets 2019: $5,824,006Liabilities 2019: $5,942,168Net Assets 2019: -$118,1622019Assets 2020: $5,806,638Liabilities 2020: $5,984,687Net Assets 2020: -$178,0492020Assets 2021: $5,570,123Liabilities 2021: $5,955,025Net Assets 2021: -$384,9022021Assets 2022: $5,536,380Liabilities 2022: $2,258,648Net Assets 2022: $3,277,7322022Assets 2023: $2,229,973Liabilities 2023: $3,374Net Assets 2023: $2,226,5992023Assets 2024: $2,213,312Liabilities 2024: $7,841Net Assets 2024: $2,205,4712024

Highlighted filing

2020

Assets$5,806,638
Liabilities$5,984,687
Net Assets-$178,049

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $0Expenses 2015: $92Net Income 2015: -$922015Revenue 2016: $247,915Expenses 2016: $305,951Net Income 2016: -$58,0362016Revenue 2017: $413,782Expenses 2017: $382,648Net Income 2017: $31,1342017Revenue 2018: $415,092Expenses 2018: $487,996Net Income 2018: -$72,9042018Revenue 2019: $427,077Expenses 2019: $457,956Net Income 2019: -$30,8792019Revenue 2020: $396,800Expenses 2020: $456,687Net Income 2020: -$59,8872020Revenue 2021: $398,705Expenses 2021: $605,558Net Income 2021: -$206,8532021Revenue 2022: $398,604Expenses 2022: $442,470Net Income 2022: -$43,8662022Revenue 2023: $277,009Expenses 2023: $213,044Net Income 2023: $63,9652023Revenue 2024: $39,852Expenses 2024: $60,980Net Income 2024: -$21,1282024

Highlighted filing

2020

Revenue$396,800
Expenses$456,687
Net Income-$59,887
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 5, 2021
Return Version
2019v5.0
Gross Receipts
$396,800
Mission and Program Overview

Mission

To own and develop the buildings at 40 central street, 27 prescott street, and 15 warren street, for the purpose of leasing such property to utec, inc.

To own and develop buildings for the purpose of leasing such property to utec, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,373,944$5,258,350▼ $115,594
Cash and Non-Interest-Bearing Accounts$204,031$249,265▲ $45,234
Accounts Receivable$153,875$236,319▲ $82,444
Prepaid Expenses and Deferred Charges$1,291$864▼ $427
Total Assets$5,824,006$5,806,638▼ $17,368
Other Assets Total$90,865$61,840▼ $29,025
Liabilities
Unsecured Notes Loans Payable$5,931,118$5,940,415▲ $9,297
Accounts Payable and Accrued Expenses$7,914$40,526▲ $32,612
Deferred Revenue$3,136$3,746▲ $610
Total Liabilities$5,942,168$5,984,687▲ $42,519
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-118,162$-178,049▼ $59,887
Total Net Assets Fund Balance$-118,162$-178,049▼ $59,887
Total Liabilities and Net Assets / Fund Balance$5,824,006$5,806,638▼ $17,368

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,728,839$507,444$5,236,283
Land$505,963-$505,963
Other Land Buildings$23,548$11,265$34,813
Compensation and Service Providers

Employees

NameTitleOtherTotal
Gregg CroteauPresident/cl$135,811$135,811

Board Members and Trustees

NameTitle
Belinda JuranDirector
Susan SmithDirector
M Scott MellenTreasurer
Madeline SteczynskiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$396,800
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-59,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$456,687
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
Interest$168,963--$168,963
Occupancy$145,136--$145,136
Depreciation Depletion$142,158--$142,158
Office Expenses-$430-$430
Total Functional Expenses$456,257$430$0$456,687
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
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Utec, inc. (a related organization) maintains the books and records of the organization and performs other related managerial and administrative functions.

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by utec hub's president prior to filing.

Form 990, Page 6, Part VI, Line 12C

Any potential conflicts of interest which are brought to the attention of the board of directors are dicussed and resolved by the other members of the board of directors.

Form 990, Page 6, Part VI, Line 19

Utec hub's governing documents, conflict of interest policy and financial statements are available upon request at utec hub's office.

Filing and Contact Details

Filer

Filer Name
Utec Hub Inc
EIN
47-3295619
Phone
9784419949
Address
15 WARREN STREET NO 3, LOWELL, MA 01852

Signing Officer

Name
Gregg Croteau
Title
President/clerk
Phone
9784419949
Signed
2021-04-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregg Croteau
Formed
2015
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
4
Employees
0

Preparer

Firm
Anstiss & Co Pc
Address
1115 WESTFORD STREET 3RD FLOOR, LOWELL, MA 01851-2701
Preparer
Brendan E Toolin
Phone
9784522500
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has been granted tax-exempt status under internal revenue code section 501(c)(3) and is, therefore, generally exempt from federal and state income taxes. Accordingly, no provision for income taxes has been provided for in the accompanying consolidated financial statements. Asc 740-10 "income taxes" requires the organization to evaluate and disclose tax positions that could have an effect on the organizations consolidated financial statements. The organization reports its activities to the internal revenue service and to the commonwealth of massachusetts on an annual basis. These informational returns are genrally subject to audit and review by the governmental agencies for a period of three years after filing. Substantially all of the organizations income, expenditures, and activities relate to its exempt purpose, therefore, management has determined that the organization is not subject to unrelated business income taxes and will continue to qualify as tax- exempt not-for-profit entity.

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS, THEREFORE, GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED FOR IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. ASC 740-10 "INCOME TAXES" REQUIRES THE ORGANIZATION TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON THE ORGANIZATIONS CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE AND TO THE COMMONWEALTH OF MASSACHUSETTS ON AN ANNUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENRALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. SUBSTANTIALLY ALL OF THE ORGANIZATIONS INCOME, EXPENDITURES, AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS TAX- EXEMPT NOT-FOR-PROFIT ENTITY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UTEC, INC. (A RELATED ORGANIZATION) MAINTAINS THE BOOKS AND RECORDS OF THE ORGANIZATION AND PERFORMS OTHER RELATED MANAGERIAL AND ADMINISTRATIVE FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY UTEC HUB'S PRESIDENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY POTENTIAL CONFLICTS OF INTEREST WHICH ARE BROUGHT TO THE ATTENTION OF THE BOARD OF DIRECTORS ARE DICUSSED AND RESOLVED BY THE OTHER MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UTEC HUB'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT UTEC HUB'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1UTEC INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0UTEC INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1HURREN STREET INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0383669532
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1273124251
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0YOUTH DEV.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1RENTAL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt012A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt112A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt015 WARREN STREET 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt115 WARREN STREET 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LOWELL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1LOWELL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd001852
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd101852
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05824006
IRS990/TotalAssetsEOYAmt05806638
IRS990/TotalAssetsGrp/BOYAmt05824006
IRS990/TotalAssetsGrp/EOYAmt05806638
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0430
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0456257
IRS990/TotalFunctionalExpensesGrp/TotalAmt0456687
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05942168
IRS990/TotalLiabilitiesEOYAmt05984687
IRS990/TotalLiabilitiesGrp/BOYAmt05942168
IRS990/TotalLiabilitiesGrp/EOYAmt05984687
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-118162
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-178049
IRS990/TotalOtherCompensationAmt06185
IRS990/TotalProgramServiceExpensesAmt0456257
IRS990/TotalProgramServiceRevenueAmt0396800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0396800
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0396800
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05824006
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05806638
IRS990/TotReportableCompRltdOrgAmt0129626
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt05931118
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt05940415
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015 WARREN STREET NO 3
IRS990/USAddress/CityNm0LOWELL
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001852
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.UTECINC.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREGG CROTEAU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CLERK
ReturnHeader/BusinessOfficerGrp/PhoneNum09784419949
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0UTEC HUB INC
ReturnHeader/Filer/BusinessNameControlTxt0UTEC
ReturnHeader/Filer/EIN0473295619
ReturnHeader/Filer/PhoneNum09784419949
ReturnHeader/Filer/USAddress/AddressLine1Txt015 WARREN STREET NO 3
ReturnHeader/Filer/USAddress/CityNm0LOWELL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001852
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042917204
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANSTISS & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01115 WESTFORD STREET 3RD FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOWELL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0018512701
ReturnHeader/PreparerPersonGrp/PhoneNum09784522500
ReturnHeader/PreparerPersonGrp/PreparationDt02021-04-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDAN E TOOLIN
ReturnHeader/ReturnTs02021-05-17T11:56:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

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