2017-07-21T10:36:40-05:00 2016-09-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBOROUGH MA 01581 990 2015-10-01 042378885 LYNN ECONOMIC OPPORTUNITY INC LYNN 7815817220 156 BROAD STREET LYNN MA 01901 BIRGITTA S DAMON CHIEF EXECUTIVE OFFICER 7815817220 2017-07-20 1 JEFFREY CICOLINI CPA P00837468 5083669100 2017-07-12 2015 2021-01-29 14:40:06Z BIRGITTA S DAMON 156 BROAD STREET LYNN MA 01901 12724037 0 X WWW.LEOINC.ORG X 1964 MA LYNN ECONOMIC OPPORTUNITY, INC. (LEO) WORKS TO ALLEVIATE THE IMMEDIATE IMPACT OF POVERTY AND TO PROVIDE PATHWAYS TO FINANCIAL STABILITY FOR INDIVIDUALS, AND FAMILIES, AS WELL AS STRENGTHEN THE GREATER COMMUNITY OF LYNN AND ITS SURROUNDING TOWNS. 17 17 164 287 1040 561 10172047 10275748 125134 118430 197315 7065 33482 -3359 10527978 10397884 0 0 0 0 5368976 5570989 0 0 0 4609738 4435521 9978714 10006510 549264 391374 9057553 9218776 3649323 2684406 5408230 6534370 X LYNN ECONOMIC OPPORTUNITY, INC. WORKS TO ALLEVIATE THE IMMEDIATE IMPACT OF POVERTY, WHILE PROVIDING PATHWAYS TO FINANCIAL STABILITY FOR INDIVIDUALS, FAMILIES, AS WELL AS STRENGTHEN THE GREATER COMMUNITY OF LYNN AND ITS SURROUNDING TOWNS. 0 0 5205984 118430 CHILD CARE INCLUDES HEAD START, EARLY HEAD START, AFTERSCHOOL, AND SUMMER CARE FOR PREGNANT WOMEN AND CHILDREN FROM BIRTH TO 12 YEARS OF AGE. DURING FISCAL YEAR 2016, LEO SERVED APPROXIMATELY 230 STUDENTS IN ITS CHILD CARE PROGRAMS.*COMPREHENSIVE SCHOOL READINESS CURRICULUM*INCLUSIVE INFANT AND TODDLER PRESCHOOL PROGRAMS AT THREE SITES IN LYNN, MA*NUTRITIONALLY AND CULTURALLY DIVERSE MEALS*TRANSPORTATION FOR CHILDREN*HEALTH AND DENTAL ASSESSMENT FOLLOW-UP*FAMILY ADVOCACY AND SUPPORT*PARENT INVOLVEMENTTHE PRESCHOOL PROGRAM HAS THREE PROGRAMS, ONE IS FULL DAY/FULL YEAR FOR WORKING; ONE IS A SEASONAL FOUR HOUR PROGRAM AND THE INFANT TODDLER PROGRAM IS A 6 HOUR FULL DAY/FULL YEAR PROGRAM. 3421857 ENERGY ASSISTANCE - THE MASSACHUSETTS LOW INCOME HOUSING ASSISTANCE PROGRAM IS DESIGNED TO PROVIDE ASSISTANCE TO THE LOW-INCOME HOUSEHOLDS MOST VULNERNABLE TO THE HIGH COST OF HOME HEATING ENERGY. ELIGIBILITY IS BASED ON FAMILY SIZE AND INCOME OF THE ENTIRE HOUSEHOLD. DURING FISCAL YEAR 2016, LEO SERVED 2,979 HOUSEHOLDS, WHICH INCLUDED OVER 6,800 INDIVIDUALS. OF THE INDIVIDUALS SERVED DURING FISCAL YEAR 2016, 23% WERE CHILDREN UNDER THE AGE OF 17 AND 36% WERE RESIDENTS 60 YEARS OF AGE OR OLDER. 378783 10554 COMMUNITY SERVICE PROGRAM - SERVICES TO STABLIZE INDIVIDUALS FACING FINANCIAL EMERGENCIES AS A RESULT OF POVERTY. 9006624 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 26 0 1 164 1 1 1 0 0 0 0 0 0 0 0 0 X 17 17 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X BIRGITTA S DAMON 7815817220 156 BROAD STREET LYNN MA 01901 FRAN TROUTMAN DIRECTOR 0.50 0.00 X 0 0 0 MARILYN FOSTER DIRECTOR 0.50 0.00 X 0 0 0 JAMES HIGGS PRESIDENT 0.50 0.50 X X 0 0 0 JIM LOW TREASURER 0.50 0.00 X X 0 0 0 KIRIRATH SAING CLERK 0.50 0.00 X X 0 0 0 JOYCE REEN DIRECTOR 0.50 0.00 X 0 0 0 JOHN AUGERI DIRECTOR 0.50 0.00 X 0 0 0 KEVIN DONAHER ASSISTANT CLERK 0.50 0.00 X X 0 0 0 MARION CANIZARO DIRECTOR 0.50 0.00 X 0 0 0 KIMBERLY ROWE-CUMMINGS DIRECTOR 0.50 0.00 X 0 0 0 DIANE PEREZ DIRECTOR 0.50 0.00 X 0 0 0 JAMES CARRIGAN VICE PRESIDENT 0.50 0.00 X X 0 0 0 CHRISTINA CASSANO DIRECTOR 0.50 0.00 X 0 0 0 JAY MCMANUS DIRECTOR 0.50 0.00 X 0 0 0 ALIDA ROBLES DIRECTOR 0.50 0.00 X 0 0 0 THELMA VELASQUEZ DIRECTOR 0.50 0.00 X 0 0 0 PASTOR POSAN UNG DIRECTOR 0.50 0.00 X 0 0 0 LAURA GALLANT VICE PRESIDENT (RESIGNED IN FY16) 1.00 0.50 X X 0 0 0 MARY MAGNER DIRECTOR (RESIGNED IN FY16) 0.50 0.50 X 0 0 0 CLAUDIA LOPEZ DIRECTOR (RESIGNED IN FY16) 0.50 0.00 X 0 0 0 KRISTINA TECCE CHIEF FINANCIAL & OPERATING OFFICER 39.00 1.00 X 118810 0 11860 BIRGITTA DAMON CHIEF EXECUTIVE OFFICER 39.00 1.00 X 139454 0 22652 258264 0 34512 0 0 1 0 ATLANTIC WEATHERIZATION LLC 61 JEFFERSON AVE R SALEM MA 01970 CONSTRUCTION 166648 1 57475 9954584 263689 43120 10275748 PARENT AND OTHER PROGR 900099 118430 118430 118430 7065 7065 9493 13087 -3594 -3594 1040 -4634 2285946 2285946 0 0 16801 57475 27120 -10319 -10319 MISCELLANEOUS 900099 10554 10554 10554 10397884 128984 1040 -7888 292555 11702 280853 4021891 3586205 435686 180575 177917 2658 678790 668823 9967 397178 340260 56918 54650 54650 157243 124645 32598 1585 1055 530 130957 108909 22048 421655 389054 32601 41549 36938 4611 909 225 684 161532 145913 15619 81013 64827 16186 CLIENT ASSISTANCE 1945315 1945315 WEATHERIZATION SUBCONTR 851565 851565 FOOD 217031 216990 41 PROGRAM SUPPLIES 141829 141171 658 228688 195110 33578 10006510 9006624 999886 0 284938 1534302 2606958 117114 457764 846804 5000 46125 6178951 1540477 3868689 4638474 35136 54444 2871724 908857 9057553 9218776 628813 589258 217212 175447 2803298 1919701 3649323 2684406 X 4300209 5344942 1108021 1189428 5408230 6534370 9057553 9218776 X 391374 734766 X X 0 1 X 1 1 1 X 10302861 10488020 10066889 10172047 10275748 51305565 10302861 10488020 10066889 10172047 10275748 51305565 51305565 2189 2362 2326 1931 11744 20552 1040 1040 2073 12297 21715 33482 10554 80121 51407278 1449778 0.99800 0.99850 X PART II, LINE 10: OTHER INCOME REPRESENTS MISCELLANEOUS CASH RECEIPTS RELATED TO THE COMMUNITY SERVICE PROGRAM. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1200850 1200850 4820434 1424074 3396360 44069 19128 24941 28778 18357 10421 84820 78918 5902 4638474 CONSTRUCTION IN PROCESS 908857 908857 X PART X, LINE 2: LYNN ECONOMIC OPPORTUNITY INC. (LEO) ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE COMBINING FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. LEO HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE COMBINING FINANCIAL STATEMENTS AT SEPTEMBER 30, 2016. THE INFORMATION RETURNS OF LEO ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. 50TH ANNIVERSARY 43511 26710 16801 11225 700 4975 TRIVIA 30765 30765 300 5541 4379 74276 57475 16801 300 16766 700 9354 27120 -10319 X X 0 0 0 0 0 0 0 0 0 BIRGITTA DAMON CHIEF EXECUTIVE OFFICER 139454 0 0 0 0 0 0 0 22652 0 162106 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE CONDUCTS A SURVEY OF ORGANIZATIONS SIMILAR IN SIZE AND MISSION TO LYNN ECONOMIC OPPORTUNITY, INC., TAKING INTO CONSIDERATION ANY DIFFERENCES IN THE DUTIES PERFORMED BY THE VARIOUS CHIEF EXECUTIVE OFFIERS. THE BOARD THEN COMPARES THE RESULTS OF THE SURVEY WITH THE PERFORMANCE OF THE CHIEF EXECUTIVE OFFICER OF LYNN ECONOMIC OPPORTUNITY, INC. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 NONEAVAIL 2013-11-22 2106000 REFINANCE EXISTING DEBT AND CAPITAL IMPROVEMENTS TO REAL PROPERTY. 0 0 0 A 2106000 301794 1804206 2016 0 0 1 1 A 0 1 0 0 0.00000 0.02550 0.02550 1 0 0 A 0 0 1 0 1 0 0 0 0 A 0 X 691 43120 FAIR VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 DURING FISCAL YEAR 2016, LYNN ECONOMIC OPPORTUNITY, INC. AMENDED ITS BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT COPY OF THE FORM 990 IS INITIALLY REVIEWED BY THE ORGANIZATION'S CHIEF FINANCIAL OFFICER. AFTER THE DRAFT IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND FULL BOARD OF DIRECTORS. THE REPORT IS REVIEWED AND DISCUSSED AT A BOARD MEETING AND THEN SIGNED BY THE CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY REQUIRES BOARD MEMBERS, OFFICERS, AND ALL OTHER MANAGEMENT EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST QUESTIONAIRE EACH YEAR. THE QUESTIONAIRE IS REVIEWED THE CHIEF EXECUTIVE OFFICER AND THE BOARD PRESIDENT FOR ANY CONFLICTS. THE QUESTIONAIRES OF THE CHIEF EXECUTIVE OFFICER AND THE BOARD PRESIDENT ARE REVIEWED BY THE OTHER MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE CONDUCTS A SURVEY OF ORGANIZATIONS SIMILAR IN SIZE AND MISSION TO LYNN ECONOMIC OPPORTUNITY, INC., TAKING INTO CONSIDERATION ANY DIFFERENCES IN THE DUTIES PERFORMED BY THE VARIOUS CHIEF EXECUTIVE OFFICERS. THE BOARD THEN COMPARES THE RESULTS OF THE SURVEY WITH THE PERFORMANCE OF THE CHIEF EXECUTIVE OFFICER OF LYNN ECONOMIC OPPORTUNITY, INC. THE CHIEF EXECUTIVE OFFICER IS RESPONSIBLE FOR SETTING AND DETERMINING WAGE RATES FOR KEY EMPLOYEES WITH RESPECT TO COMPARABLE SALARIES WITHIN THE SURROUNDING AREA. FORM 990, PART VI, SECTION C, LINE 18 LYNN ECONOMIC OPPORTUNITY, INC.'S FEDERAL FORM 990 IS AVAILABLE TO THE GENERAL PUBLIC AT WWW.GUIDESTAR.ORG. LYNN ECONOMIC OPPORTUNITY, INC.'S FORM 1023 IS AVAILABLE UPON REQUEST, AS INDICATED IN PART VI, SECTION C, LINE 18. FORM 990, PART VI, SECTION C, LINE 19 LYNN ECONOMIC OPPORTUNITY, INC. WILL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND COMBINING FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: FORGIVENESS OF CONDITIONAL DEBT 272,462. TRANSFER OF NET ASSETS FROM RELATED PARTY 462,304. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR LEO REAL ESTATE SERVICES INC 156 BROAD STREET LYNN MA 01901 431983781 RENTAL OF REAL ESTATE MA 501(C)(3) 509(A)(2) LYNN ECONOMIC OPPORTUNITY INC 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 LEO REAL ESTATE SERVICES INC K 140130 FAIR MARKET VALUE LEO REAL ESTATE SERVICES INC S 462304 BOOK VALUE