NECTAR COMMUNITY INVESTMENTS INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- NECTAR COMMUNITY INVESTMENTS INC (EIN 04-3571892)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-15
- IRS object ID
- 202343199349309294
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-15T12:32:42-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042917204 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANSTISS & CO PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6 OMNI WAY STE 201 | AddressLine1Txt |
| City | CHELMSFORD | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 018244187 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043571892 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOWELL COMMUNITY LOAN FUND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LOWE | BusinessNameControlTxt |
| Phone | 9782582772 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 ISLAND STREET SUITE 103 | AddressLine1Txt |
| City | LAWRENCE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01840 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GLYNN LLOYD | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 9782582772 | PhoneNum |
| Signature | 2023-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | GLYNN | PersonFirstNm |
| Person Last | LLOYD | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BRENDAN E TOOLIN | PreparerPersonNm |
| PTIN | P01323447 | PTIN |
| Phone | 9784522500 | PhoneNum |
| Preparation | 2023-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MALIA LAZU | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 ISLAND STREET SUITE 103 | AddressLine1Txt |
| City | LAWRENCE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01840 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,158,806 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MCCINVEST.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2001 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | GROW THE ASSETS AND WEALTH OF HISTORICALLY DISINVESTED INDIVIDUALS AND THEIR COMMUNITIES BY PROVIDING A COMBINATION OF ROBUST ADVICE, RESOURCED NETWORKS AND CAPITAL IN THE MERRIMACK VALLEY AND ACROSS MASSACHUSETTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 12 | TotalEmployeeCnt |
| Total Volunteers | 13 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $2,993,466 | PYContributionsGrantsAmt |
| CY Contributions Grants | $7,707,114 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $362,005 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $443,823 | CYProgramServiceRevenueAmt |
| PY Investment Income | $400 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,509 | CYInvestmentIncomeAmt |
| PY Other Revenue | $133,500 | PYOtherRevenueAmt |
| CY Other Revenue | $4,360 | CYOtherRevenueAmt |
| PY Total Revenue | $3,489,371 | PYTotalRevenueAmt |
| CY Total Revenue | $8,158,806 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $78,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $118,000 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $505,918 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $784,503 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $816,336 | PYOtherExpensesAmt |
| CY Other Expenses | $2,532,364 | CYOtherExpensesAmt |
| PY Total Expenses | $1,400,254 | PYTotalExpensesAmt |
| CY Total Expenses | $3,434,867 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,089,117 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,723,939 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,334,796 | TotalAssetsBOYAmt |
| Total Assets EOY | $14,450,665 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,035,669 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $6,427,599 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $3,299,127 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $8,023,066 | NetAssetsOrFundBalancesEOYAmt |
| Mission | GROW THE ASSETS AND WEALTH OF HISTORICALLY DISINVESTED INDIVIDUALS AND THEIR COMMUNITIES BY PROVIDING A COMBINATION OF ROBUST ADVICE, RESOURCED NETWORKS AND CAPITAL IN THE MERRIMACK VALLEY AND ACROSS MASSACHUSETTS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $2,433,025 | ExpenseAmt |
| Grant | $118,000 | GrantAmt |
| Revenue | $443,823 | RevenueAmt |
| Desc | TO PROVIDE FINANCING AND/OR COLLABORATE WITH EXISTING LOANS TO PROVIDE FIRST OR SUBORDINATE MORTGAGE FINANCING TO CREDIT WORTHY BORROWERS AT A MODEST RATE FOR HOME ACQUISITION, REFINANCING, AND TO AVOID PRIVATE MORTGAGE INSURANCE. THE ORGANIZATION ALSO OFFERS LOANS AT TRADITIONAL FINANCIAL INSTITUTION RATES FOR SMALL BUSINESS STARTUPS, STABALIZATION, EXPANSION, AND JOB CREATION. | Desc |
| Total Program Service Expenses | $2,433,025 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 46 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 12 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GLYNN LLOYD | PersonNm |
| Phone | 9782582772 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 ISLAND STREET SUITE 103 | AddressLine1Txt |
| City | LAWRENCE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01840 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| MALIA LAZU | ||||||
| PRESIDENT | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| YUN-JU CHOI | ||||||
| VICE PRESIDE | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ABEL VARGAS | ||||||
| CLERK | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| KRISTEN HAROL | ||||||
| ASSISTANT CL | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LISA KOZOL | ||||||
| TREASURER | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MATTHEW HANSON | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| ABBOTT LAWRENCE | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| QUINCY MILLER | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| NANCY STAGER | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| LISA TORISSI | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| ORLANDO WATKINS | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| MICHELE WITTS | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| ARLEEN ZORRILA | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| GLYNN LLOYD | ||||||
| EXECUTIVE DI | 40.00 | Yes (X) | $46,035 | $0 | $6,316 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $46,035 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $6,316 | TotalOtherCompensationAmt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NBEF INVESTMENT MANAGERS LLC | |||||
| 194 INDIGO POINT RD | SOUTH KINGSTOWN | RI | 02879 | MANAGEMENT FEE | $292,500 |
| NEXT LEVEL NOW INC | |||||
| 16 PEASE BOULEVARD | PORTSMOUTH | NH | 03801 | ACCOUNTING | $154,861 |
| AAFCPAS INC | |||||
| 50 WASHINGTON STREET | WESTBOROUGH | MA | 01581 | ACCOUNTING | $112,839 |
| ALEXANDRA NOVA | |||||
| 16 TEAGUE DRIVE | SALEM | NH | 03079 | CONSULTANT | $112,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $95,800 | GovernmentGrantsAmt |
| All Other Contributions | $7,611,314 | AllOtherContributionsAmt |
| Total Contributions | $7,707,114 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST INCOME ON NOTES RECE | 522298 | $285,823 | $285,823 |
| LOAN SERVICE FEES | 522298 | $158,000 | $158,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $443,823 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,509 | TotalRevenueColumnAmt |
| Exclusion | $3,509 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $4,360 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,360 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,360 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,158,806 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $448,183 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $3,509 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,000 | TotalAmt |
| Program Services | $118,000 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,351 | TotalAmt |
| Management And General | $52,351 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $575,584 | TotalAmt |
| Program Services | $466,214 | ProgramServicesAmt |
| Management And General | $109,370 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,544 | TotalAmt |
| Program Services | $72,645 | ProgramServicesAmt |
| Management And General | $17,899 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,024 | TotalAmt |
| Program Services | $49,518 | ProgramServicesAmt |
| Management And General | $16,506 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,149 | TotalAmt |
| Program Services | $56,362 | ProgramServicesAmt |
| Management And General | $18,787 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $380,198 | TotalAmt |
| Management And General | $380,198 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,247,586 | TotalAmt |
| Program Services | $935,689 | ProgramServicesAmt |
| Management And General | $311,897 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $91,076 | TotalAmt |
| Program Services | $68,307 | ProgramServicesAmt |
| Management And General | $22,769 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $166,844 | TotalAmt |
| Program Services | $125,133 | ProgramServicesAmt |
| Management And General | $41,711 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,295 | TotalAmt |
| Program Services | $26,471 | ProgramServicesAmt |
| Management And General | $8,824 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,351 | TotalAmt |
| Program Services | $43,013 | ProgramServicesAmt |
| Management And General | $14,338 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,134 | TotalAmt |
| Program Services | $2,351 | ProgramServicesAmt |
| Management And General | $783 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,780 | TotalAmt |
| Program Services | $2,085 | ProgramServicesAmt |
| Management And General | $695 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| ALLOWANCE FOR LOAN LOSSES | $410,920 | $410,920 | |
| CHARGE OFF | $39,172 | $39,172 | |
| LOAN DOCUMENT FEES | $22,143 | $16,608 | $5,535 |
| MISCELLANEOUS | $716 | $537 | $179 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,434,867 | TotalAmt |
| Program Services | $2,433,025 | ProgramServicesAmt |
| Management And General | $1,001,842 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,169,809 | BOYAmt |
| EOY | $6,026,637 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $327,027 | BOYAmt |
| EOY | $1,671,824 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,463,502 | BOYAmt |
| EOY | $5,959,396 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,778 | BOYAmt |
| EOY | $129,743 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $21,936 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $21,266 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,804 | BOYAmt |
| EOY | $670 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,366 | BOYAmt |
| EOY | $10,318 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $320,510 | BOYAmt |
| EOY | $652,077 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,334,796 | BOYAmt |
| EOY | $14,450,665 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $815,198 | BOYAmt |
| EOY | $849,693 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $404,360 | BOYAmt |
| EOY | $12,000 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,102 | BOYAmt |
| EOY | $54,438 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,718,533 | BOYAmt |
| EOY | $5,429,266 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,476 | BOYAmt |
| EOY | $82,202 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,035,669 | BOYAmt |
| EOY | $6,427,599 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,503,659 | BOYAmt |
| EOY | $5,766,543 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $795,468 | BOYAmt |
| EOY | $2,256,523 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,299,127 | BOYAmt |
| EOY | $8,023,066 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,334,796 | BOYAmt |
| EOY | $14,450,665 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $4,723,939 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,185,189 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,391,746 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $890,073 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,125,966 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,707,114 | CurrentTaxYearAmt |
| Total | $15,300,088 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,185,189 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,391,746 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $890,073 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,125,966 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,707,114 | CurrentTaxYearAmt |
| Total | $15,300,088 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $3,396,912 | SubstantialContributorsTotAmt |
| Public Support Total170 | $11,903,176 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $54 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,187 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $71 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $400 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,509 | CurrentTaxYearAmt |
| Total | $5,221 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $15,305,309 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $1,377,999 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.77770 | PublicSupportCY170Pct |
| Public Support PY170 | 0.98350 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $21,936 | OtherCostOrOtherBasisAmt |
| Depreciation | $21,266 | DepreciationAmt |
| Book Value | $670 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $670 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED WAGES | $60,134 |
| ACCRUED VACATION | $22,068 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $82,202 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $8,158,806 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $8,158,806 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $8,158,806 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,434,867 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $3,434,867 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $3,434,867 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 2, PART IV, LINE 2B | THE ORGANIZATION HOLDS HOME IMPROVEMENT LOAN FUNDS IN ESCROW FOR CLIENTS AND RELEASES THE FUNDS TO THE CONTRACTORS BASED ON AN AGREED UPON DISBURSEMENT SCHEDULE AS THE IMPROVEMENTS ON THEIR HOMES ARE COMPLETED. |
| SCHEDULE D, PAGE 3, PART X | MCCI 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 FINANCIAL STATEMENTS. ASC 740-10, "INCOME TAXES," REQUIRES MCCI TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON MCCI'S FINANCIAL STATEMENTS. MCCI REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE AND TO THE COMMONWEALTH OF MASSACHUSETTS ON AN ANNUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENERALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. SUBSTANTIALLY ALL OF MCCI'S INCOME, EXPENDITURES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT MCCI IS NOT SUBJECT TO MATERIAL UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS A TAX- EXEMPT NOT-FOR-PROFIT ENTITY. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|
| HUGO BOOKS INC | |||||||
| 74 MAIN STREET | ANDOVER | MA | 01950 | 043446289 | $6,000 | STABILIZATION | |
| PEACHBOX LLC | |||||||
| 408 FOREST STREET | METHUEN | MA | 01844 | 834187327 | $6,000 | STABILIZATION | |
| SMALL BLESSING CHILD CARE INC | |||||||
| 429 SOUTH UNION STREET | LAWRENCE | MA | 01843 | 832410390 | $9,000 | STABILIZATION | |
| SOUTHWICK SOCIAL VENTURES LTD | |||||||
| 15 UNION STREET | LAWRENCE | MA | 01841 | 851192365 | $6,000 | STABILIZATION | SUITE 240 |
| THE PINK HOUSE BEAUTY NAILS | |||||||
| 30 S BROADWAY | LAWRENCE | MA | 01843 | 843752355 | $6,000 | STABILIZATION | |
| THIRD EYE BEAUTY ESTHETICS | |||||||
| 349 BROADWAY | REVERE | MA | 02151 | 022745132 | $8,000 | STABILIZATION | SUITE 104 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Org | 6 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PAGE 1, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION PROVIDED GRANTS TO HELP SET-UP OR IMPROVE BUSINESS BOOKKEEPING SYSTEMS AND TO HELP SMALL BUSINESSES STABILIZE IN THE FACE OF ECONOMIC CHALLENGES, CHANGES, OPPORUNITIES, AND CRISIS. THE ORGANIZATION DOES NOT TRACK USE OF THESE FUNDS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 4 | LOWELL COMMUNITY LOAN FUND, INC. MERGED WITH FOUNDATION FOR BUSINESS EQUITY, INC. DURING 2022. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS AND REVIEWED AT A MEETING OF THE BOARD OF DIRECTORS. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE POLICY IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW AND ACKNOWLEDGEMENT WITH WRITTEN ACKNOWLEDGEMENT BY EACH BOARD MEMBER BEING RETAINED. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE BOARD OF DIRECTORS USES RELEVANT BENCHMARKS TO SET THE SALARY LEVEL OF THE EXECUTIVE DIRECTOR. |
| FORM 990, PAGE 6, PART VI, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | CONSULTANTS 559,505 186,502 0 CONTRACTED SERVICES 376,184 125,395 0 TOTAL 935,689 311,897 0 |
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