Civic Intelligence

Lynn Y Support Inc

990 • Fiscal year 2022 • EIN 82-0966815

Jan 01, 2022 to Dec 31, 2022 • Filed on May 10, 2023

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

93rd percentile

0.98x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

98th percentile

21.67x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

58th percentile

$285,161

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 23.0% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

40th percentile

-2.5%

Faster asset growth than 40% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

92nd percentile

83%

Faster revenue growth than 92% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Down

$27,510,332

Down $713,672 (-2.5%) from 2021

Net Assets

Up

$654,452

Up $228,027 (+53%) from 2021

Liabilities

Down

$26,855,880

Down $941,699 (-3.4%) from 2021

Revenue

Up

$1,239,569

Up $560,551 (+83%) from 2021

Expenses

Up

$1,011,542

Up $320,676 (+46%) from 2021

Net Income

Up

$228,027

Up $239,875 (+2025%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$27,510,332
Liabilities$26,855,880
Net Assets$654,452

Operations Trend

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

2022

Revenue$1,239,569
Expenses$1,011,542
Net Income$228,027
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 10, 2023
Return Version
2022v5.0
Gross Receipts
$1,239,569
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
Land, Buildings, and Equipment, Net$28,161,170$27,447,116▼ $714,054
Cash and Non-Interest-Bearing Accounts$62,834$63,216▲ $382
Total Assets$28,224,004$27,510,332▼ $713,672
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,733,757$20,746,606▲ $12,849
Other Liabilities$6,793,328$6,079,274▼ $714,054
Accounts Payable and Accrued Expenses$270,494$30,000▼ $240,494
Total Liabilities$27,797,579$26,855,880▼ $941,699
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$426,425$654,452▲ $228,027
Total Net Assets Fund Balance$426,425$654,452▲ $228,027
Total Liabilities and Net Assets / Fund Balance$28,224,004$27,510,332▼ $713,672

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,372,115$1,190,094$28,562,209
Land$75,001-$75,001
Compensation and Service Providers

Employees

NameTitleOtherTotal
Lisabeth LafontaineClerk$9,696$9,696

Board Members and Trustees

NameTitle
Kathleen WalshPresident
Bruce MacdonaldDirector
Lisa FerraroDirector
Mary SarrisDirector
Steve HendricksonDirector
Dan ClasbyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$632
Other Revenue
$1,238,937
Change in Net Assets
$228,027

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,239,569
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,239,569
Total Revenue per Form 990
$1,239,569
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,011,542
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$714,054--$714,054
Interest$248,775--$248,775
Fees for Services Other$48,463--$48,463
Other Expenses$250--$250
Total Functional Expenses$1,011,542$0$0$1,011,542

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,011,542
Total Expenses per Audited Statements$1,011,542
Total Expenses per Form 990$1,011,542
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.$6,079,274
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
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
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Walsh
Formed
2017
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Tonneson & Company Pc
Address
401 EDGEWATER PLACE SUITE 300, WAKEFIELD, MA 01880-6208
Preparer
Jody K Booth
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, 2022, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.

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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.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE 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 THE NEW MARKET TAX CREDIT FINANCING AS A FINANCING SOURCE, AND TO LEASE SUCH REAL ESTATE TO THE YMCA AT OR BELOW MARKET RENTAL RATES. THE NEW YMCA, DEMAKES FAMILY YMCA, LOCATED IN LYNN, MA, WAS COMPLETED AND OPEN FOR OPERATIONS DURING MAY 2021. THE YMCA IS CURRENTLY LEASING THE BUILDING AT MARKET RATES FROM THE ORGANIZATION. THE DEMAKES FAMILY YMCA IS A 70,000 SQUARE FOOT BUILDING, CONTAINING Y ACADEMY CLASSROOMS, AN ADOLESCENT AND MENTAL HEALTH CLINIC, A TEACHING KITCHEN, A TECHNOLOGY LAB, TWO INDOOR POOLS AND SPLASH PAD, A TRACK & BASKETBALL GYM, FITNESS SPACE, MEETING SPACE, ROOFTOP GARDEN, AND MORE. THIS BUILDING ALLOWS THE YMCA TO EXPAND THEIR OPERATIONS WITHIN THE LYNN COMMUNITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV SECTION D LINE 3
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV SECTION E LINE 2A
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV SECTION E LINE 2B
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0YOUNG MEN'S ASSOCIATION OF METRO NORTH INC
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IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06079274
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE - YMCA OF METRO NORTH, INC.
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01239569
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, 2022, 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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IRS990ScheduleD/TotalExpensesPerForm990Amt01011542
IRS990ScheduleD/TotalLiabilityAmt06079274
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KATHLEEN WALSH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1LISA FERRARO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR
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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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0YOUNG MEN'S CHRISTIAN ASSOCIATION OF METRO NORTH INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0042105883
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SECURING LONG-TERM FINANCING TO RECONSTRUCT THE LYNN, MA YMCA.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1YOUNG MEN'S CHRISTIAN ASSOCIATION OF METRO NORTH INC
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0426425
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