Lowell Plan Inc

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.

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)Compensation
Gary Campbell
Co-Chair
$0
Jack Clancy
Clerk/secret
$0
Mark S Cochran
Treasurer
$0
Allison Lamey
Executive Di
$0
John Power
Co-Chair
$0
Rajia Abdelaziz
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
National Grid
Electrical
$164,219
S&r Contracting Co
Excavating
$101,650
View All Vendors

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

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Lowell Plan Inc has recieved totaling $74,000.

Awarding OrganizationAmount
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
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$909,838
Earnings-$127,216
Admin Expense$17,919
Net Contributions$148,000
Ending Balance$912,703

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