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Lowell Makes FY2022 filing

Tax-deductible

Lowell, MA501(c)(3)Arts & Culture EIN 46-2789844Revenue $408K in FY2022

On file with the IRSlowellmakes.com130 Western Ave, 01851-1434 · Lowell, MATax-exempt since Jun 2014Publicly supported — 509(a)(2)

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Lowell Makes is a collection of open workshops and laboratories where members and students can collaborate to learn, share, and hone crafts of all kinds. The focus is on providing a space for education, entrepreneurship, and engagement with the community of Lowell, massachusetts.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$37K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · 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 $71K a year · 18% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$37K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$408K
-20% vs prior year
Spent
$347K
To programs
88%
Net assets
$365K
By yearFY2020–FY2024
Revenue
$408K
FY2022▼ -20%
Tap a bar for its year
Revenue by fiscal year
FY2020$347K
FY2021$508K
FY2022$408K
FY2023$395K
FY2024$379K
Expenses
$347K
FY2022▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$241K
FY2021$379K
FY2022$347K
FY2023$334K
FY2024$379K
Net assets
$365K
FY2022▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$175K
FY2021$304K
FY2022$365K
FY2023$426K
FY2024$448K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 Jun 2014.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $305K Management & general 12% · $42K

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

8 people listed on the 990; $37K paid to officers and key staff.

Part VII, Section A · reportable compensation
Christy Matte
Secretary (from 8/2022)
$37,307Pt VII · Sec A
John Noto
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Sack
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jack Walsh
Director
$0Pt VII · Sec A
Rio Sabella
Director (from 8/2022)
$0Pt VII · Sec A
Mark Palermo
Director (from 8/2022)
$0Pt VII · Sec A

Christy Matte’s $37K as Secretary (from 8/2022) is at the 32nd percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Lowell Makes 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 15aNo

Programs and updates

Provides open workshops and labs for learning, sharing, and honing crafts, fostering education and community engagement.

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Provided by the organization

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1 program · $305K · in their own filed words · FY2022
01

Hosting workshops and providing a space for individuals to hone skills in art, engineering, and innovation in lowell, ma and surrounding areas.

$305Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Luck Charitable TrustFY2024$1K
Pfizer Foundation INCFY2024$50
Total grants receivedfrom 2 funders$1K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$408K
Ln 12
Gifts and grantsLn 1h$239K
Fees for servicesLn 2g$123K
Other incomeLn 4–11$45K
Money outPt IX
$347K
Ln 25
Programscol B$305K
Managementcol C$42K
Owns and owesPt X
$365K
net assets · Ln 32
Cash and savingsLn 1–2$114K
Total assetsLn 16$2.1M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$239K
Government grantsLn 1e$12K
Fees for servicesLn 2g$123K
Investment incomeLn 3$7
Other incomeLn 4–11$45K
Total revenueLn 12$408K
Assets in detailPt X, end of year
CashLn 1$65K
SavingsLn 2$49K
Cash and savings togetherLn 1–2$114K
Land, buildings, equipmentLn 10c$2.0M
Other assetsLn 15$980
Total assetsLn 16$2.1M
LiabilitiesLn 26$1.7M
Net assetsLn 32$365K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6150
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$80K$114K
Land, buildings, equipmentLn 10c$2.0M$2.0M
Total assetsLn 16$2.1M$2.1M
LiabilitiesLn 26$1.8M$1.7M
Net assetsLn 32$304K$365K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$37K$37K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$10K$10K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$10K$2K$9K
OccupancyLn 16$86K$86K
InterestLn 20$51K$51K
Depreciation, depletion and amortizationLn 22$49K$49K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$67K$51K$16K
Total functional expensesLn 25$347K$305K$42K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $379K$379K−$552$448K 990 PDF
FY2023 $395K$334K$61K$426K 990 PDF
FY2022 Viewing $408K$347K$61K$365K 990 PDF
FY2021 $508K$379K$128K$304K 990 PDF
FY2020 $347K$241K$107K$175K 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 FY2022 990 (6 parts)
Part I · Summary $407,994 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $281,233$239,357
I-9 Program service revenuePrior year $128,503$123,477
I-10 Investment incomePrior year $3$7
I-11 Other revenuePrior year $97,807$45,153
I-12 Total revenuePrior year $507,546$407,994
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$37,307
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $379,075$309,454
I-18 Total expensesPrior year $379,075$346,761
I-19 Revenue less expensesPrior year $128,471$61,233
Part VI · Governance 7 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $407,994 across 9 lines filed
Lines not itemized here account for $2,643 of total revenue; see the IRS return.
VIII-1b Membership dues$176,484
VIII-1e Government grants$12,470
VIII-1f All other contributions, gifts and grants$50,403
VIII-1h Total contributions, gifts and grants$239,357
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $123,477$123,477
VIII-3 Investment incomeExcluded from tax $7$7
VIII-6 Net rental income or lossUnrelated business $38,659 · Excluded from tax $2,220$40,879
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,631$1,631
VIII-12 Total revenueRelated to mission $125,108 · Unrelated business $38,659 · Excluded from tax $4,870$407,994
Part IX · Statement of functional expenses $346,761 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $37,307$37,307
IX-11b Legal feesManagement $3,299$3,299
IX-11c Accounting feesManagement $13,358$13,358
IX-11g Other fees for servicesPrograms $9,683$9,683
IX-12 Advertising and promotionPrograms $3,426$3,426
IX-13 Office expensesPrograms $1,676 · Management $8,771$10,447
IX-16 OccupancyPrograms $85,959$85,959
IX-20 InterestPrograms $51,414$51,414
IX-22 Depreciation, depletion and amortizationPrograms $49,468$49,468
IX-23 InsurancePrograms $15,590$15,590
IX-24 Other expenses (24a–d)Programs $50,582 · Management $16,228$66,810
IX-25 Total functional expensesPrograms $305,105 · Management $41,656 · Fundraising $0$346,761
Part X · Balance sheet $2,099,155 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $19,813$65,156
X-2 Savings and temporary cash investmentsStart of year $60,209$48,520
X-10c Land, buildings and equipment, netStart of year $1,983,937$1,984,499
X-15 Other assetsStart of year $9,330$980
X-16 Total assetsStart of year $2,073,289$2,099,155
X-17 Accounts payable and accrued expensesStart of year $30,184$11,394
X-19 Deferred revenueStart of year $23,006$45,850
X-20 Tax-exempt bond liabilitiesStart of year $1,095,432$1,124,166
X-25 Other liabilitiesStart of year $12,423$19,035
X-26 Total liabilitiesStart of year $1,769,613$1,734,246
X-27 Net assets without donor restrictionsStart of year $303,676$364,909
X-32 Total net assets or fund balancesStart of year $303,676$364,909
X-33 Total liabilities and net assetsStart of year $2,073,289$2,099,155
Part XI · Reconciliation of net assets $364,909 net assets at year end
XI-1 Total revenue$407,994
XI-2 Total expenses$346,761
XI-3 Revenue less expenses$61,233
XI-4 Net assets at start of year$303,676
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$364,909

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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