Civic Intelligence

Lynn Y Support Inc

990 • Fiscal year 2019 • EIN 82-0966815

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 24, 2020

Organization ProfileN/A
20 Neptune BoulevardLynn, MA 01902

(978) 775-3701

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.99x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

100th percentile

117.10x

Higher debt load relative to revenue than 100% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

99th percentile

94%

Higher net margin than 99% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

33rd percentile

$187,485

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 82.2% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

53rd percentile

4.9%

Faster asset growth than 53% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

89th percentile

42%

Faster revenue growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$27,085,437

Up $1,272,491 (+4.9%) from 2018

Net Assets

Up

$384,104

Up $215,181 (+127%) from 2018

Liabilities

Up

$26,701,333

Up $1,057,310 (+4.1%) from 2018

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin99th percentile

Revenue

Up

$228,030

Up $67,994 (+42%) from 2018

Expenses

Up

$12,849

Up $5 (+0.0%) from 2018

Net Income

Up

$215,181

Up $67,989 (+46%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$30M$20M$10M$0Assets 2017: $25,141,196Liabilities 2017: $25,119,465Net Assets 2017: $21,7312017Assets 2018: $25,812,946Liabilities 2018: $25,644,023Net Assets 2018: $168,9232018Assets 2019: $27,085,437Liabilities 2019: $26,701,333Net Assets 2019: $384,1042019Assets 2020: $29,387,797Liabilities 2020: $28,949,524Net Assets 2020: $438,2732020Assets 2021: $28,224,004Liabilities 2021: $27,797,579Net Assets 2021: $426,4252021Assets 2022: $27,510,332Liabilities 2022: $26,855,880Net Assets 2022: $654,4522022Assets 2023: $26,796,232Liabilities 2023: $26,154,675Net Assets 2023: $641,5572023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2019

Assets$27,085,437
Liabilities$26,701,333
Net Assets$384,104
Open 2019 Filing

Operations Trend

Revenue Growth89th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $26,014Expenses 2017: $4,283Net Income 2017: $21,7312017Revenue 2018: $160,036Expenses 2018: $12,844Net Income 2018: $147,1922018Revenue 2019: $228,030Expenses 2019: $12,849Net Income 2019: $215,1812019Revenue 2020: $67,088Expenses 2020: $12,919Net Income 2020: $54,1692020Revenue 2021: $679,018Expenses 2021: $690,866Net Income 2021: -$11,8482021Revenue 2022: $1,239,569Expenses 2022: $1,011,542Net Income 2022: $228,0272022Revenue 2023: $975,434Expenses 2023: $988,329Net Income 2023: -$12,8952023Revenue 2024: $713,333Expenses 2024: $1,162,068Net Income 2024: -$448,7352024

Highlighted filing

2019

Revenue$228,030
Expenses$12,849
Net Income$215,181
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 24, 2020
Return Version
2019v5.1
Gross Receipts
$228,030
Mission and Program Overview

Mission

To rehabilitate, construct and expand the YMCA located in Lynn, MA. Also, to support the Young Men's Christian Association of Metro North, Inc. and develop, initiate, and operate projects that are consistent with community needs in the greater Lynn area.

Lynn Y Support, Inc. was formed by Young Men's Christian Association of Metro North, Inc. in 2017 as part of a financing structured under the Federal New Market Tax Credit Program to rehabilitate, construct and expand the YMCA located in Lynn, MA. The Organization's main objectives are to support the Young Men's Christian Association of Metro North, Inc. and develop, initiate, and operate projects that are consistent with community needs in the greater Lynn area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$22,774,082$14,863,910▼ $7,910,172
Land, Buildings, and Equipment, Net$3,038,864$12,221,527▲ $9,182,663
Total Assets$25,812,946$27,085,437▲ $1,272,491
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,695,210$20,708,059▲ $12,849
Other Liabilities$4,408,381$4,408,381→ $0
Accounts Payable and Accrued Expenses$540,432$1,584,893▲ $1,044,461
Total Liabilities$25,644,023$26,701,333▲ $1,057,310
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$168,923$384,104▲ $215,181
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$168,923$384,104▲ $215,181
Total Liabilities and Net Assets / Fund Balance$25,812,946$27,085,437▲ $1,272,491

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,221,527-$12,221,527
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Bruce MacdonaldPresident
Mary SarrisDirector
Steve HendricksonDirector
Lisabeth LaFontaineClerk
Dan ClasbyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Campanelli Associates Construction CorpConstruction1 Campanelli Dr, Braintree, MA 02184$8,271,293
Green EnvironmentalEnvironmental Consulting296 Weymouth Street Unit C, Rockland, MA 02370$287,297
Maugel ArchitectsArchitectural200 Ayer Road Suite 200, Harvard, MA 01451$200,280
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$228,030
Other Revenue
$0
Change in Net Assets
$215,181

Audited Revenue Reconciliation

Revenue per Audited Statements
$228,030
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$228,030
Total Revenue per Form 990
$228,030
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,849
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$12,849--$12,849
Total Functional Expenses$12,849$0$0$12,849

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,849
Total Expenses per Audited Statements$12,849
Total Expenses per Form 990$12,849
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Affiliate - YMCA of Metro North, Inc.$4,408,381
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The governing board reviews and approves the filing of the Form 990 before it is filed.”

Form 990, Part VI, Section B, line 12C

“On an annual basis the Organization's Board of Directors are required to review the conflict of interest policy and complete a questionaire. The Board of Directors and management are required to disclose any potential and all actual conflicts.”

Form 990, Part VI, Section C, line 19

“The governing documents, conflict of interest policy, financial statements and Form 990 are immediately made available to the public by calling the Organization's office, walking into the Organization's office or mailing in a request to the Organization. The Form 990 and financial statements are also available through the Massachusetts Attorney General's office/website.”

Filing and Contact Details

Filer

Filer Name
Lynn Y Support Inc
EIN
82-0966815
Phone
9787753701
Address
20 Neptune Boulevard, Lynn, MA 01902

Signing Officer

Name
Kathleen Walsh
Title
President
Phone
9787753701
Signed
2020-08-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Walsh
Formed
2017
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Tonneson & Company PC
Address
401 Edgewater Place Suite 300, Wakefield, MA 01880-6208
Preparer
Heidi E MacLean
Phone
7812459999
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“In determining the recognition of uncertain tax positions, the Organization applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of December 31, 2019, the Organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.”

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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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IRS990/ActivityOrMissionDesc0Lynn Y Support, Inc. was formed by Young Men's Christian Association of Metro North, Inc. in 2017 as part of a financing structured under the Federal New Market Tax Credit Program to rehabilitate, construct and expand the YMCA located in Lynn, MA. The Organization's main objectives are to support the Young Men's Christian Association of Metro North, Inc. and develop, initiate, and operate projects that are consistent with community needs in the greater Lynn area.
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IRS990/Desc0Lynn YMCA Project - The Lynn YMCA Project consists of developing and constructing a new 67,000 square foot building adjacent to the existing Lynn YMCA. The new Lynn facility will include a health and wellness center, a family adventure and child watch center, a family aquatics center, a gymnasium, an indoor track, a commercial kitchen, a licensed pre-school early learning center, locker rooms and significant community meeting space. There are also plans to renovate their adjacent existing YMCA facility, including partial demolition, where the plan is to continue providing youth services and housing. The new Lynn YMCA will have the physical space to offer more comprehensive programs to address critical educational, health, community and safety issues.
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IRS990/MissionDesc0To rehabilitate, construct and expand the YMCA located in Lynn, MA. Also, to support the Young Men's Christian Association of Metro North, Inc. and develop, initiate, and operate projects that are consistent with community needs in the greater Lynn area.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0The Young Men's Christian Association of Metro North, Inc. (the "YMCA") has a significant voice in directing the Organization's use of income and assets due to the fact that two of the Board members will be appointed by the YMCA. In addition, the Organization's organizing documents specifically name the YMCA as the entity which it supports. The Organization's organizing documents also require that the YMCA be notified and invited to the Organization's annual meeting, receive annual audited financial information and a summary of financial support provided to the YMCA, and be made aware of any changes to the organizing documents of the Organization.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1The activities of the Organization are related to directly performing the functions of, or carrying out the purposes of, the YMCA, and the Organization shall conduct activities that would otherwise be carried out by the YMCA. The Organization's primary function is to own or lease, develop, finance, and operate certain real estate, to finance the development of such real estate utilizing New Market Tax Credit financing as a financing source, and to lease such real estate to the YMCA at or below market rental rates.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04408381
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Affiliate - YMCA of Metro North, Inc.
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0In determining the recognition of uncertain tax positions, the Organization applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of December 31, 2019, the Organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Bruce Macdonald
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Lisabeth LaFontaine
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Clerk
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The governing board reviews and approves the filing of the Form 990 before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1On an annual basis the Organization's Board of Directors are required to review the conflict of interest policy and complete a questionaire. The Board of Directors and management are required to disclose any potential and all actual conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing documents, conflict of interest policy, financial statements and Form 990 are immediately made available to the public by calling the Organization's office, walking into the Organization's office or mailing in a request to the Organization. The Form 990 and financial statements are also available through the Massachusetts Attorney General's office/website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Securing long-term financing to reconstruct the Lynn, MA YMCA.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02 Centennial Drive Upper 4A
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ReturnHeader/BuildTS02020-11-19 02:30:22Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,085,437
Liabilities
$26,701,333
Net assets
$384,104
Revenue
$228,030
Expenses
$12,849
Net income
$215,181
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.71$1.16$0.45
2023Detailed filing. Detailed filing data is available for this year.$26.8$26.2$0.64$0.98$0.99$0.01
2022Detailed filing. Detailed filing data is available for this year.$27.5$26.9$0.65$1.24$1.01$0.23
2021Detailed filing. Detailed filing data is available for this year.$28.2$27.8$0.43$0.68$0.69$0.01
2020Detailed filing. Detailed filing data is available for this year.$29.4$28.9$0.44$0.07$0.01$0.05
2019Detailed filing. Detailed filing data is available for this year.$27.1$26.7$0.38$0.23$0.01$0.22
2018Detailed filing. Detailed filing data is available for this year.$25.8$25.6$0.17$0.16$0.01$0.15
2017Detailed filing. Detailed filing data is available for this year.$25.1$25.1$0.02$0.03$0.00$0.02