Civic Intelligence

Utec Hub Inc.

990 • Fiscal year 2021 • EIN 47-3295619

Jul 01, 2020 to Jun 30, 2021 • Filed on May 04, 2022

Organization ProfileWWW.UTECINC.ORG
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

95th percentile

1.07x

Higher debt load relative to assets than 95% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

14.94x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

5th percentile

-52%

Higher net margin than 5% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

67th percentile

$159,617

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 40.0% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

13th percentile

-4.1%

Faster asset growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

31st percentile

0.5%

Faster revenue growth than 31% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$5,570,123

Down $236,515 (-4.1%) from 2020

Net Assets

Down

-$384,902

Down $206,853 (-116%) from 2020

Liabilities

Down

$5,955,025

Down $29,662 (-0.5%) from 2020

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin5th percentile

Revenue

Up

$398,705

Up $1,905 (+0.5%) from 2020

Expenses

Up

$605,558

Up $148,871 (+33%) from 2020

Net Income

Down

-$206,853

Down $146,966 (-245%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

2021

Assets$5,570,123
Liabilities$5,955,025
Net Assets-$384,902
Open 2021 Filing

Operations Trend

Revenue Growth31st percentile

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

2021

Revenue$398,705
Expenses$605,558
Net Income-$206,853
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 4, 2022
Return Version
2020v4.0
Gross Receipts
$398,705
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$5,258,350$5,116,916▼ $141,434
Cash and Non-Interest-Bearing Accounts$249,265$331,502▲ $82,237
Accounts Receivable$236,319$87,352▼ $148,967
Prepaid Expenses and Deferred Charges$864$1,538▲ $674
Total Assets$5,806,638$5,570,123▼ $236,515
Other Assets Total$61,840$32,815▼ $29,025
Liabilities
Unsecured Notes Loans Payable$5,940,415$5,949,712▲ $9,297
Accounts Payable and Accrued Expenses$40,526$5,313▼ $35,213
Deferred Revenue$3,746--
Total Liabilities$5,984,687$5,955,025▼ $29,662
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-178,049$-384,902▼ $206,853
Total Net Assets Fund Balance$-178,049$-384,902▼ $206,853
Total Liabilities and Net Assets / Fund Balance$5,806,638$5,570,123▼ $236,515

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,590,886$647,897$5,238,783
Land$505,963-$505,963
Other Land Buildings$20,067$14,746$34,813
Compensation and Service Providers
Top Officer Pay67th percentile

Board Members and Trustees

NameTitle
M Scott MellenChair
Gregg CroteauCEO/clerk
Diana FrothinghamTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$398,705
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-206,853
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$605,558
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
Other Expenses$156,356--$156,356
Depreciation Depletion$143,934--$143,934
Occupancy$133,255--$133,255
Office Expenses$1,355$1,695-$3,050
Total Functional Expenses$603,863$1,695$0$605,558
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
CEO/clerk
Phone
9784419949
Signed
2022-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregg Croteau
Formed
2015
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Anstiss & Co Pc
Address
6 OMNI WAY SUITE 201, CHELMSFORD, MA 01824-4141
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.”

Raw XML Appendix368 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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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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0GREGG CROTEAU
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDAN E TOOLIN
ReturnHeader/ReturnTs02022-05-13T11:50:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GREGG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CROTEAU
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,570,123
Liabilities
$5,955,025
Net assets
-$384,902
Revenue
$398,705
Expenses
$605,558
Net income
-$206,853
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.21$0.01$2.21$0.04$0.06$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$0.00$2.23$0.28$0.21$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.54$2.26$3.28$0.40$0.44$0.04
2021Detailed filing. Detailed filing data is available for this year.$5.57$5.96$0.38$0.40$0.61$0.21
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.81$5.98$0.18$0.40$0.46$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.82$5.94$0.12$0.43$0.46$0.03
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.87$5.96$0.09$0.42$0.49$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.28$6.30$0.01$0.41$0.38$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.39$6.42$0.03$0.25$0.31$0.06
2015Summary only. Only limited summary data is available for this year.$6.41$6.38$0.03$0.00$0.00$0.00
Peer Organizations

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