Lowell Plan Inc
- Assets
- $2.1m
- Revenue
- $307.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Lowell, MA
- Founding
- 02/1994
- Data as of
- 06/2022
- EIN
- 04-2693109
Organization Overview
Lowell Plan Inc is located in Lowell, MA. The organization was established in 1994. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lowell Plan Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Lowell Plan Inc generated $307.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $335.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LOWELL PLAN, INC. IS A PRIVATE NON-PROFIT ECONOMIC DEVELOPMENT ORGANIZATION THAT PROVIDES A FORUM FOR PRIVATE AND PUBLIC SECTOR LEADERS TO DISCUSS THE CITY OF LOWELL'S ECONOMIC, EDUCATIONAL, AND CULTURAL DEVELOPMENT AND THAT ALSO SUPPORTS AND ADVOCATES FOR PARTNERSHIP PROGRAMS THAT ADVANCE THE STRATEGIC GOALS OF THE ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OBJECTIVE OF THE LOWELL PLAN, INC. IS TO PROVIDE THE GOOD IMAGE OF LOWELL AND TO ASSIST IN THE CITY'S CONTINUED REVITALIZATION BY MEANS OF VARIOUS PROJECTS: ACRE PROJECT, DOWNTOWN DEVELOPMENT, TROLLEY STUDY AND PUBLIC MATTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Clancy Clerk/secret | OfficerTrustee | $0 | |
Allison Lamey Executive Di | OfficerTrustee | $0 | |
Gary Campbell Co-Chair | OfficerTrustee | $0 | |
Mark S Cochran Treasurer | OfficerTrustee | $0 | |
John Power Co-Chair | OfficerTrustee | $0 | |
Joe Bartolotta Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Grid Electrical | 6/29/15 | $164,219 |
S&r Contracting Co Excavating | 6/29/15 | $101,650 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $222,243 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $222,243 |
| Total Program Service Revenue | $48,551 |
| Investment income | $21,440 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $307,460 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,853 |
| Pension plan accruals and contributions | $9,255 |
| Other employee benefits | $18,468 |
| Payroll taxes | $5,850 |
| Fees for services: Management | $82,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,919 |
| Fees for services: Other | $73,209 |
| Advertising and promotion | $0 |
| Office expenses | $3,679 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,987 |
| All other expenses | $0 |
| Total functional expenses | $335,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,412 |
| Savings and temporary cash investments | $1,827,982 |
| Pledges and grants receivable | $148,574 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,080 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,171 |
| Total assets | $2,117,219 |
| Accounts payable and accrued expenses | $22,718 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,718 |
| Net assets without donor restrictions | $22,421 |
| Net assets with donor restrictions | $2,072,080 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,117,219 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Lowell Plan Inc has recieved totaling $74,000.
| Awarding Organization | Amount |
|---|---|
Demoulas Market Basket Foundation Chelmsford, MA PURPOSE: CIVIC, CULTURAL & OTHER | $25,000 |
Jeanne Darc Credit Union Lowell, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $20,000 |
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $17,000 |
Lowell Five Charitable Foundation Inc Tewksbury, MA PURPOSE: DONATION | $12,000 |
Endowment Analysis
| Beg. Balance | $909,838 |
| Earnings | -$127,216 |
| Admin Expense | $17,919 |
| Net Contributions | $148,000 |
| Ending Balance | $912,703 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Community Crossroads Inc Atkinson, NH | $8,920,461 | $38,376,189 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |
National Council For Community Development Inc Brooklyn, NY | $24,193,687 | $38,165,020 |
The Community Action Organization Of Western New York Inc Buffalo, NY | $11,956,609 | $31,001,421 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |
The Mayors Fund To Advance New York City New York, NY | $28,518,749 | $18,611,480 |