2025-12-16T09:56:52-06:00 2025-06-30 431985162 SMITH SULLIVAN & BROWN PC 80 FLANDERS ROAD SUITE 302 WESTBOROUGH MA 01581 990 2024-07-01 874789167 WESTERN AVENUE COMMUNITY FOR THE ARTS INC WEST 6173507600 PO BOX 549 LOWELL MA 01853 JAMES GRACE VICE PREISDENT 6173507600 2025-12-16 1 0 SANDRA M BROWN CPA P01614103 5088717178 2025-12-16 2024 2025-03-06 01:10:19Z X JAMES BUZA PO BOX 549 LOWELL MA 01853 2443780 0 X WWW.ARTSANDBUSINESSCOUNCIL.ORG X 2022 MA THE CORPORATION'S PRIMARY PURPOSE IS TO CREATE THRIVING ECOSYSTEMS THAT SUPPORT THE ARTS, CULTURE AND COMMUNITIES THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PROGRAMS, SERVICES AND ADVOCACY WITH A FOCUS ON AFFORDABLE ARTIST WORK, LIVE/WORK AND COMMUNITY SPACES AND OTHER MAKER SPACES WHERE WORK CAN BE CREATED, REHEARSED, AND PRESENTED. 5 5 7 0 0 0 690464 17569 0 0 13200 8675 2317758 2417536 3021422 2443780 0 0 0 0 252471 309997 0 0 16971 2225554 2220824 2478025 2530821 543397 -87041 21860236 21587567 18303631 18118003 3556605 3469564 X THE CORPORATION'S PRIMARY PURPOSE IS TO CREATE THRIVING ECOSYSTEMS THAT SUPPORT THE ARTS, CULTURE AND COMMUNITIES THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PROGRAMS, SERVICES AND ADVOCACY WITH A FOCUS ON AFFORDABLE ARTIST WORK, LIVE/WORK AND COMMUNITY SPACES AND OTHER MAKER SPACES WHERE WORK CAN BE CREATED, REHEARSED, AND PRESENTED. 0 0 2431828 2390995 IN MARCH 2022, WACA PURCHASED WESTERN AVENUE STUDIOS AND LOFTS IN LOWELL MASSACHUSETTS, A MIXED-USE CONDOMINIUM PROPERTY WHICH IS PRIMARILY COMPRISED OF 250 WORK-ONLY ARTIST STUDIO SPACES IN THREE BUILDINGS AND 50 LIVE/WORK STUDIOS IN A FOURTH BUILDING. WACA'S INTEREST IN THE CONDOMINIUM IS FOUR UNITS OF A FIVE-UNIT PROPERTY, REPRESENTING AN UNDIVIDED 92% COMBINED PERCENTAGE INTEREST OF THE ENTIRETY OF THE PROPERTY.WACA IS AN EXAMPLE CREATIVE CAMPUS INITIATIVE WITH A MISSION TO CREATE THRIVING ECOSYSTEMS THAT SUPPORT THE ARTS, CULTURE AND COMMUNITIES THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PROGRAMS, SERVICES AND ADVOCACY WITH A FOCUS ON AFFORDABLE ARTIST WORK, LIVE/WORK AND COMMUNITY SPACES AND OTHER MAKER SPACES WHERE WORK CAN BE CREATED, REHEARSED, AND PRESENTED. 2431828 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 13 0 7 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X X JAMES F GRACE EXECUTIVE DIRECTOR 6173507600 PO BOX 549 LOWELL MA 01853 CHERYL TOUGIAS PRESIDENT 1.00 1.00 X X 0 0 0 JAMES BUZA TREASURER 1.00 1.50 X X 0 0 0 AWILDA IRIZARRY CLERK 1.00 1.00 X X 0 0 0 JOANNE KALIONTZIS DIRECTOR 1.00 1.00 X 0 0 0 LISA NICKERSON DIRECTOR 1.00 1.00 X 0 0 0 JAMES GRACE ESQ VICE PRESIDENT 3.00 37.00 X 45000 149207 5560 HOPE GREENE EXECUTIVE DIRECTOR 40.00 X 79277 0 3192 124277 149207 8752 0 0 1 0 0 10000 7569 17569 8675 8675 2390995 0 2390995 2390995 2390995 OTHER INCOME 900099 26541 26541 26541 2443780 2417536 0 8675 133000 115450 8100 9450 161676 125770 29089 6817 15321 11692 2925 704 20235 20235 117886 116193 1693 12673 12673 472965 472965 2274 2274 833453 833453 570320 570320 178891 173858 5033 COMMUNITY OUTREACH 12127 12127 2530821 2431828 82022 16971 630233 922423 440581 412288 34404 25334 22024 6835 21790331 1824930 20507904 19965401 225090 255286 21860236 21587567 109923 136079 79923 88620 17855592 17578013 258193 315291 18303631 18118003 X 3556605 3469564 3556605 3469564 21860236 21587567 -87041 0 X 0 1 X 1 0 X 3119824 690464 17569 3827857 2209520 2293998 2390995 6894513 5329344 2984462 2408564 10722370 0 0 0 10722370 728619 13200 8675 750494 728619 13200 8675 750494 38714 23760 26541 89015 6096677 3021422 2443780 11561879 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2022 AMOUNT: $ 38,714. 2023 AMOUNT: $ 23,760. 2024 AMOUNT: $ 26,541. FORM 990, SCHEDULE A SHORT YEAR INITIAL FILING FOR PERIOD FEBRUARY 2, 2022 - JUNE 30, 2022 (2022 TAX YEAR) WAS DUE TO ORGANIZATION FORMATION ON FEBRUARY 2, 2022. FIRST FULL YEAR RETURN JULY 1, 2022 - JUNE 30, 2023 (2022 TAX YEAR) WAS ALSO FILED ON 2022 TAX FORM. THIS COLUMN SUMMARIZES COMBINED NUMBERS FOR BOTH TAX RETURNS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21790331 1824930 19965401 19965401 DUE TO RELATED ORGANIZATION 61225 TENANT DEPOSITS HELD AND CUSTODIAL FUNDS 254066 315291 X PART X, LINE 2: TAX POSITION: THE ORGANIZATION CURRENTLY EVALUATES ALL TAX POSITIONS AND MAKES A DETERMINATION REGARDING THE LIKELIHOOD OF THOSE POSITIONS BEING UPHELD UNDER REVIEW. THE PRIMARY TAX POSITION MADE BY WACA IS THE LACK OF UNRELATED BUSINESS INCOME TAX AND ITS TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE FACT THAT CHANGES MAY RESULT FROM CLOSING OF STATUTE OF LIMITATIONS ON TAX RETURNS, NEW LEGISLATION, AND CLARIFICATION OF EXISTING LEGISLATION THROUGH GOVERNMENT PRONOUNCEMENTS, THE COURTS, AND THROUGH THE EXAMINATION PROCESS. X 0 0 0 0 0 0 0 0 0 JAMES GRACE ESQ VICE PRESIDENT 45000 134207 0 15000 0 0 0 5560 0 0 45000 154767 0 0 FORM 990, PART VI, SECTION A, LINE 6 A&BC/BOSTON IS THE SOLE MEMBER OF WACA, ESTABLISHING WACA AS A SUBSIDIARY. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR AND TREASURER REVIEW THE FORM 990 AND DISTRIBUTE TO THE BOARD OF DIRECTOR FOR THEIR REVIEW PRIOR TO FILING. THE FORM 990 WAS THEN AUTHORIZED AND SIGNED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REQUIRES AN ANNUAL DECLARATION FROM ALL BOARD MEMBERS AND SENIOR MANAGEMENT AS TO THE EXISTENCE AND DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE BOARD MEMBERS SIGN A DISCLOSURE STATEMENT. ANY POTENTIAL CONFLICTS ARE DISCUSSED BY THE DIS-INTERESTED BOARD MEMBERS, WHILE THE PARTY IN POTENTIAL CONFLICT IS REQUIRED TO LEAVE THE ROOM. BOARD MEETING MINUTES WILL DOCUMENT THE DISCUSSION AND DECISION MAKING PROCESS. IN THE EVENT OF A POTENTIAL CONFLICT, PROCEDURES TO OBTAIN COMPETITIVE BIDS AND DILIGENCE ON FAIR MARKET VALUE WILL BE ESTABLISHED. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST ARTS & BUSINESS COUNCIL OF GREATER BOSTON INC 15 CHANNEL CENTER STREET BOSTON MA 02210 223217131 PROVIDE LEGAL/BUSINESS SERVICES, EDUCATIONAL PROGRAM & AFFORDABLE ART SPACES MA 501(C)(3) LINE 7 N/A 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 ARTS & BUSINESS COUNCIL OF GREATER BOSTON INC O 291484 FMV ARTS & BUSINESS COUNCIL OF GREATER BOSTON INC E 17000000 FMV ARTS & BUSINESS COUNCIL OF GREATER BOSTON INC C 10000 FMV