Civic Intelligence

Utec Hub Inc.

990 • Fiscal year 2024 • EIN 47-3295619

Jul 01, 2023 to Jun 30, 2024 • Filed on May 16, 2025

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

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

66th percentile

0.20x

Higher debt load relative to revenue than 66% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

6th percentile

-53%

Higher net margin than 6% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

89th percentile

$191,961

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 481.7% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

34th percentile

-0.7%

Faster asset growth than 34% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-86%

Faster revenue growth than 1% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$2,213,312

Down $16,661 (-0.7%) from 2023

Net Assets

Down

$2,205,471

Down $21,128 (-0.9%) from 2023

Liabilities

Up

$7,841

Up $4,467 (+132%) from 2023

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin6th percentile

Revenue

Down

$39,852

Down $237,157 (-86%) from 2023

Expenses

Down

$60,980

Down $152,064 (-71%) from 2023

Net Income

Down

-$21,128

Down $85,093 (-133%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2024

Assets$2,213,312
Liabilities$7,841
Net Assets$2,205,471
Open 2024 Filing

Operations Trend

Revenue Growth1st 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

2024

Revenue$39,852
Expenses$60,980
Net Income-$21,128
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 16, 2025
Return Version
2023v6.0
Gross Receipts
$39,852
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$1,714,406$1,674,168▼ $40,238
Cash and Non-Interest-Bearing Accounts$511,777$534,965▲ $23,188
Prepaid Expenses and Deferred Charges-$390-
Total Assets$2,229,973$2,213,312▼ $16,661
Other Assets Total$3,790$3,789▼ $1
Liabilities
Other Liabilities-$3,813-
Deferred Revenue$3,321$3,321→ $0
Accounts Payable and Accrued Expenses$53$707▲ $654
Total Liabilities$3,374$7,841▲ $4,467
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,226,599$2,205,471▼ $21,128
Total Net Assets Fund Balance$2,226,599$2,205,471▼ $21,128
Total Liabilities and Net Assets / Fund Balance$2,229,973$2,213,312▼ $16,661

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,331,079$390,467$1,721,546
Land$343,089-$343,089
Compensation and Service Providers
Top Officer Pay89th percentile

Board Members and Trustees

NameTitle
M Scott MellenPresident/tr
Gregg CroteauClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$39,852
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-21,128
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$60,980
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
Depreciation Depletion$43,838--$43,838
Occupancy$16,151--$16,151
Office Expenses$991--$991
Total Functional Expenses$60,980$0$0$60,980
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 Utec$3,813
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 discussed 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
Clerk
Phone
9784419949
Signed
2025-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregg Croteau
Formed
2015
Legal Domicile
Ma
Voting Board Members
2
Independent Board Members
1
Employees
0

Preparer

Firm
Anstiss & Co Pc
Address
6 OMNI WAY STE 201, CHELMSFORD, MA 01824-4187
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 Appendix350 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 DISCUSSED 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.
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0GREGG CROTEAU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CLERK
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0UTEC HUB INC
ReturnHeader/Filer/BusinessNameControlTxt0UTEC
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ReturnHeader/Filer/PhoneNum09784419949
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ReturnHeader/PreparerPersonGrp/PhoneNum09784522500
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDAN E TOOLIN
ReturnHeader/ReturnTs02025-05-16T14:19:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,213,312
Liabilities
$7,841
Net assets
$2,205,471
Revenue
$39,852
Expenses
$60,980
Net income
-$21,128
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$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