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Acre Triangle Community Development Corporation FY2020 filing

Tax-deductible

Lowell, MA501(c)(3)Housing EIN 22-2527669Revenue $258K in FY2020

On file with the IRS517 Moody Street, 01854-4071 · Lowell, MATax-exempt since Nov 1984Publicly supported charity — 170(b)(1)(A)(vi)

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Property management - manages properties developed to house low and moderate income residents

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $8K a year · 3% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$285K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$258K
Spent
$256K
To programs
94%
Net assets
$1.7M
By yearFY2020–FY2024
Revenue
$258K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$258K
FY2021$279K
FY2022$305K
FY2023$313K
FY2024$343K
Expenses
$256K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$256K
FY2021$272K
FY2022$290K
FY2023$346K
FY2024$294K
Net assets
$1.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$1.8M
FY2022$1.8M
FY2023$1.8M
FY2024$1.8M

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1984.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $242K Management & general 6% · $14K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Sixto Dejesus
Vice President
$0Pt VII · Sec A
Matthew Kalil
Treasurer
$0Pt VII · Sec A
Paul Gaudet
Director
$0Pt VII · Sec A
Adam Baacke
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Masada Jones
Director
$0Pt VII · Sec A
Musu Gaye
Director
$0Pt VII · Sec A
See Acre Triangle Community Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages affordable residential properties for low- and moderate-income residents and operates commercial spaces dedicated primarily to supporting minority-owned businesses.

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Provided by the organization

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1 program · $242K · in their own filed words · FY2020
01

Property Management

Manages properties developed to house low and moderate income residents as well as management of commercial building used mainly for minority businesses.

$242Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $225K · 2020–2024
Coalition for a Better Acre INCMA · FY2024$30,000
Coalition for a Better Acre INCMA · FY2023$75,000
Coalition for a Better Acre INCMA · FY2022$40,000
Coalition for a Better Acre INCMA · FY2021$30,000
Coalition for a Better Acre INCMA · FY2020$50,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$258K
Ln 12
Fees for servicesLn 2g$227K
Other incomeLn 4–11$31K
Investment incomeLn 3$67
Money outPt IX
$256K
Ln 25
Programscol B$242K
Managementcol C$14K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$143K
Total assetsLn 16$2.0M
LiabilitiesLn 26$285K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$227K
Investment incomeLn 3$67
Other incomeLn 4–11$31K
Total revenueLn 12$258K
Assets in detailPt X, end of year
CashLn 1$143K
Cash and savings togetherLn 1–2$143K
Land, buildings, equipmentLn 10c$328K
Other assetsLn 15$1.5M
Total assetsLn 16$2.0M
LiabilitiesLn 26$285K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$96K$143K
Land, buildings, equipmentLn 10c$360K$328K
Total assetsLn 16$2.0M$2.0M
LiabilitiesLn 26$294K$285K
Net assetsLn 32$1.7M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$50K$50K
Other salaries and wagesLn 7$23K$23K
Other employee benefitsLn 9$3K$3K
Payroll taxesLn 10$2K$2K
Legal feesLn 11b$462$462
Accounting feesLn 11c$6K$6K
Office expensesLn 13$4K$4K
InterestLn 20$344$344
Depreciation, depletion and amortizationLn 22$30K$30K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$119K$109K$10K
All other expensesLn 24e$4K$4K
Total functional expensesLn 25$256K$242K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $343K$294K$49K$1.8M 990 PDF
FY2023 $313K$346K−$33K$1.8M 990 PDF
FY2022 $305K$290K$15K$1.8M 990 PDF
FY2021 $279K$272K$8K$1.8M 990 PDF
FY2020 Viewing $258K$256K$2K$1.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $258,264 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $220,882$227,290
I-10 Investment incomePrior year $83$67
I-11 Other revenuePrior year $30,890$30,907
I-12 Total revenuePrior year $251,855$258,264
I-13 Grants and similar amounts paidPrior year $50,000$50,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $24,812$27,837
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $170,384$178,061
I-18 Total expensesPrior year $245,196$255,898
I-19 Revenue less expensesPrior year $6,659$2,366
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $258,264 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $227,290$227,290
VIII-3 Investment incomeExcluded from tax $67$67
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $30,907$30,907
VIII-12 Total revenueRelated to mission $258,197 · Unrelated business $0 · Excluded from tax $67$258,264
Part IX · Statement of functional expenses $255,898 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $50,000$50,000
IX-7 Other salaries and wagesPrograms $23,102$23,102
IX-9 Other employee benefitsPrograms $2,782$2,782
IX-10 Payroll taxesPrograms $1,953$1,953
IX-11b Legal feesPrograms $462$462
IX-11c Accounting feesPrograms $6,000$6,000
IX-13 Office expensesPrograms $4,482$4,482
IX-20 InterestPrograms $344$344
IX-22 Depreciation, depletion and amortizationPrograms $29,914$29,914
IX-23 InsurancePrograms $13,439$13,439
IX-24 Other expenses (24a–d)Programs $109,025 · Management $10,286$119,311
IX-24e All other expensesManagement $4,109$4,109
IX-25 Total functional expensesPrograms $241,503 · Management $14,395 · Fundraising $0$255,898
Part X · Balance sheet $2,022,221 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $96,457$143,057
X-4 Accounts receivableStart of year $1,033$1,474
X-9 Prepaid expenses and deferred chargesStart of year $6,430$6,983
X-10c Land, buildings and equipment, netStart of year $360,044$328,242
X-14 Intangible assetsStart of year $6,339$5,995
X-15 Other assetsStart of year $1,538,112$1,536,470
X-16 Total assetsStart of year $2,008,415$2,022,221
X-17 Accounts payable and accrued expensesStart of year $8,298$8,663
X-25 Other liabilitiesStart of year $2,146$2,096
X-26 Total liabilitiesStart of year $294,136$284,531
X-27 Net assets without donor restrictionsStart of year $1,714,279$1,737,690
X-32 Total net assets or fund balancesStart of year $1,714,279$1,737,690
X-33 Total liabilities and net assetsStart of year $2,008,415$2,022,221
Part XI · Reconciliation of net assets $1,737,690 net assets at year end
XI-1 Total revenue$258,264
XI-2 Total expenses$255,898
XI-3 Revenue less expenses$2,366
XI-4 Net assets at start of year$1,714,279
XI-5 Net unrealized gains (losses) on investments$21,045
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,737,690

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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