70 Valladolid Council

Tax-deductible

Lynn, MA501(c)(8)EIN 23-7106213Revenue $62K in FY2024

On file with the IRS177 Lynnfield St, 01904-2225 · Lynn, MATax-exempt since Oct 1940

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Promoting and conducting educational, charitable, religious, and charitable welfare

501(c)(8) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Run by 5 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(8)
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
3 of 6
filings with a surplus
Average surplus $4K a year · 10% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$10K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
25 mo
of spending, in cash
Looks good: 25.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$430
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62K
+48% vs prior year
Spent
$74K
To programs
79%
Net assets
$156K
By yearFY2019–FY2024
Revenue
$62K
FY2024▲ +48%
Tap a bar for its year
Revenue by fiscal year
FY2019$43K
FY2020$29K
FY2021$68K
FY2022$20K
FY2023$42K
FY2024$62K
Expenses
$74K
FY2024▲ +121%
Tap a bar for its year
Expenses by fiscal year
FY2019$50K
FY2020$26K
FY2021$28K
FY2022$27K
FY2023$34K
FY2024$74K
Net assets
$156K
FY2024▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2019$124K
FY2020$127K
FY2021$168K
FY2022$160K
FY2023$169K
FY2024$156K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1940.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $59K Management & general 21% · $16K

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

6 people listed on the 990; $10K paid to officers and key staff.

Part VII, Section A · reportable compensation
Trustee & Tr
$8,580Pt VII · Sec A
Financial Se
$1,287Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Grand Knight
$0Pt VII · Sec A
Recording Se
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020FY2019
Michael Phelps$8,580$8,580$5,720$5,830$5,720$2,860
James Smart—————$2,860
Michael Scarlata$1,287$1,287$1,326$1,559$1,738$1,631

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aNo

Programs and updates

Promotes and conducts educational, charitable, religious, and welfare activities.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Promoting and conducting educational, charitable, religious, and social welfare.

Pt IX · col B

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 · 3 grants · $23K · 2019–2022
Unitemized GrantFY2022$8,500
Unitemized GrantFY2020$9,250
Unitemized GrantFY2019$5,500

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$62K
Ln 12
Gifts and grantsLn 1h$48K
Other incomeLn 4–11$9K
Investment incomeLn 3$5K
Money outPt IX
$74K
Ln 25
Programscol B$59K
Managementcol C$16K
Owns and owesPt X
$156K
net assets · Ln 32
Cash and savingsLn 1–2$157K
Total assetsLn 16$157K
LiabilitiesLn 26$430
PeoplePt VI, VII
6
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$48K
Investment incomeLn 3$5K
Other incomeLn 4–11$9K
Total revenueLn 12$62K
Assets in detailPt X, end of year
CashLn 1$50K
SavingsLn 2$107K
Cash and savings togetherLn 1–2$157K
Total assetsLn 16$157K
LiabilitiesLn 26$430
Net assetsLn 32$156K
OperationsPt I, VI
EmployeesI 52
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$169K$157K
Total assetsLn 16$169K$157K
LiabilitiesLn 26$449$430
Net assetsLn 32$169K$156K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$10K$10K
Payroll taxesLn 10$1K$1K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$35K$35K
Office expensesLn 13$2K$450$1K
OccupancyLn 16$12K$12K
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$74K$59K$16K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $62K$74K−$12K$156K 990 PDF
FY2023 $42K$34K$8K$169K 990 PDF
FY2022 $20K$27K−$7K$160K 990 PDF
FY2021 $68K$28K$40K$168K 990 PDF
FY2020 $29K$26K$3K$127K 990 PDF
FY2019 $43K$50K−$7K$124K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $61,918 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $61,900$48,104
I-9 Program service revenue$0
I-10 Investment incomePrior year $4,419$4,865
I-11 Other revenuePrior year −$24,369$8,949
I-12 Total revenuePrior year $41,950$61,918
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $10,461$10,910
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $23,074$63,146
I-18 Total expensesPrior year $33,535$74,056
I-19 Revenue less expensesPrior year $8,415−$12,138
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $61,918 across 6 lines filed
Lines not itemized here account for $10,371 of total revenue; see the IRS return.
VIII-1b Membership dues$15,595
VIII-1f All other contributions, gifts and grants$32,509
VIII-1h Total contributions, gifts and grants$48,104
VIII-3 Investment incomeRelated to mission $4,865$4,865
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$1,422−$1,422
VIII-12 Total revenueRelated to mission $13,814$61,918
Part IX · Statement of functional expenses $74,056 across 7 lines filed
IX-5 Pay of current officers, directors and key staffManagement $9,867$9,867
IX-10 Payroll taxesManagement $1,043$1,043
IX-11c Accounting feesManagement $3,500$3,500
IX-11g Other fees for servicesPrograms $35,253$35,253
IX-13 Office expensesPrograms $450 · Management $1,105$1,555
IX-16 OccupancyPrograms $12,000$12,000
IX-24 Other expenses (24a–d)Programs $10,838$10,838
IX-25 Total functional expensesPrograms $58,541 · Management $15,515 · Fundraising $0$74,056
Part X · Balance sheet $156,809 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $65,628$50,148
X-2 Savings and temporary cash investmentsStart of year $103,338$106,661
X-16 Total assetsStart of year $168,966$156,809
X-17 Accounts payable and accrued expensesStart of year $449$430
X-26 Total liabilitiesStart of year $449$430
X-27 Net assets without donor restrictionsStart of year $168,517$156,379
X-32 Total net assets or fund balancesStart of year $168,517$156,379
X-33 Total liabilities and net assetsStart of year $168,966$156,809
Part XI · Reconciliation of net assets $156,379 net assets at year end
XI-1 Total revenue$61,918
XI-2 Total expenses$74,056
XI-3 Revenue less expenses−$12,138
XI-4 Net assets at start of year$168,517
XI-10 Net assets at end of year$156,379

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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