2024-06-13T14:20:09-04:00 2023-12-31 042917204 ANSTISS & CO PC 6 OMNI WAY STE 201 CHELMSFORD MA 018244187 990 2023-01-01 043571892 LOWELL COMMUNITY LOAN FUND INC LOWE 9782582772 50 ISLAND STREET SUITE 103 LAWRENCE MA 01840 GLYNN LLOYD EXECUTIVE DIRECTOR 9782582772 2024-06-10 true GLYNN LLOYD 999009999 false BRENDAN E TOOLIN P01323447 9784522500 2024-06-10 2023 2023-04-26 12:10:37Z GLYNN LLOYD 50 ISLAND STREET SUITE 103 LAWRENCE MA 01840 6574062 false X WWW.MCCINVEST.ORG X 2001 MA GROW THE ASSETS AND WEALTH OF HISTORICALLY DISINVESTED INDIVIDUALS AND THEIR COMMUNITIES BY PROVIDING A COMBINATION OF ROBUST ADVICE, RESOURCED NETWORKS AND CAPITAL IN THE MERRIMACK VALLEY AND ACROSS MASSACHUSETTS. 13 13 17 13 0 7707114 5689344 443823 784609 3509 100109 4360 0 8158806 6574062 118000 329500 0 784503 1603272 0 0 2532364 3720031 3434867 5652803 4723939 921259 14450665 20012349 6427599 10726172 8023066 9286177 GROW THE ASSETS AND WEALTH OF HISTORICALLY DISINVESTED INDIVIDUALS AND THEIR COMMUNITIES BY PROVIDING A COMBINATION OF ROBUST ADVICE, RESOURCED NETWORKS AND CAPITAL IN THE MERRIMACK VALLEY AND ACROSS MASSACHUSETTS. false false 2556000 197000 582515 THE ORGANIZATION PROVIDES BOTH CAPITAL AND ADVISORY SERVICES TO ENABLE UNDERSERVED BUSINESS OWNERS TO REACH THEIR FULL POTENTIAL AND BUILD WEALTH FOR THE OWNERS, FAMILIES, AND COMMUNITIES. THE ORGANIZATION OFFERS A RANGE OF LOW-COST, FLEXIBLE SMALL BUSINESS DEBT AND EQUITY CAPITAL PRODUCTS WITH TRAINING AND TECHNICAL ASSISTANCE THAT ADDRESS KEY FINANCING CHALLENGES. 1115410 132500 106167 THE ORGANIZATION'S RESIDENTIAL LENDING PROGRAMS HELP HOMEOWNERS IMPROVE THE HEALTH AND QUALITY OF THEIR HOMES THROUGH A SUSTAINABLE LENS. LENDING PRODUCTS OFFERED ASSIST HOMEOWNERS WITH REPAIRS, LEAD REMOVAL, AND ENERGY- EFFICIENT UPGRADES NEEDED TO HELP TRANSITION THEIR HOMES TO CLEAN ENERGY. 976000 95927 THE ORGANIZATION OPERATES THE BUSINESS EQUITY INITIATIVE (BEI) PROGRAM, WHICH PROVIDES BLACK AND LATINX BUSINESS OWNERS WITH QUALITY HIGH TOUCH ADVISORY SERVICES DEVELOPING BUSINESS OWNERS WITH A TRACK RECORD AND GROWTH TRAJECTORY POTENTIAL. 4647410 true true false false false false false false true false true false true false true true false true false false false false false false false false false true true true false false false false false false false false false false false false false false false false false true 42 0 true 17 true false false false false false false false false false false false false X 13 13 false false false false false false false true true false false true true true true false false true false true true MA X DAN PLOWDEN 9782582772 50 ISLAND STREET NO 103 LAWRENCE MA 01840 MALIA LAZU PRESIDENT 5.00 X X 0 0 0 YUN-JU CHOI VICE PRESIDE 5.00 X X 0 0 0 ABEL VARGAS CLERK 5.00 X X 0 0 0 KRISTEN HAROL ASSISTANT CL 5.00 X X 0 0 0 LISA KOZOL TREASURER 5.00 X X 0 0 0 LISA TORISSI DIRECTOR 5.00 X 0 0 0 ABBOTT LAWRENCE DIRECTOR 5.00 X 0 0 0 NANCY STAGER DIRECTOR 5.00 X 0 0 0 MICHELE WITTS DIRECTOR 5.00 X 0 0 0 ARLEEN ZORRILA DIRECTOR 5.00 X 0 0 0 ORLANDO WATKINS DIRECTOR 5.00 X 0 0 0 MATTHEW HANSON DIRECTOR 5.00 X 0 0 0 QUINCY MILLER DIRECTOR 5.00 X 0 0 0 GLYNN LLOYD EXECUTIVE DI 40.00 X 215449 0 12814 ALEXANDRA NOVA SR DIR STRAT 40.00 X 122280 0 3467 AARON LACKMAN COMMERCIAL L 40.00 X 102829 0 9695 440558 25976 3 false true false NBEF INVESTMENT MANAGERS LLC 194 INDIGO POINT RD SOUTH KINGSTOWN RI 02879 MANAGEMENT FEE 270000 NEXT LEVEL NOW INC 16 PEASE BOULEVARD PORTSMOUTH NH 03801 ACCOUNTING 262653 TBM CONSULTING LLC 2 BOYLSTON STREET UNIT 5 JAMAICA PLAIN MA 02130 CONSULTING 199217 MEAGHAN PHILLIPS 18 LENNOX RD NAHANT MA 01908 DEVELOPMENT 127658 4 1000000 4689344 5689344 INTEREST INCOME ON NOTES RECE 522299 525884 525884 LOAN SERVICE FEES 522299 162798 162798 TECHNICAL ASSISTANCE 541900 95927 95927 784609 100109 100109 6574062 784609 100109 X 317000 317000 12500 12500 228263 114132 114131 1110647 886847 223800 27025 21775 5250 116753 89262 27491 120584 90438 30146 59793 44845 14948 341446 341446 1490144 1386890 103254 85337 64003 21334 297700 223275 74425 41387 31040 10347 153515 115136 38379 671 503 168 1095 821 274 CREDIT LOSSES 1226093 1226093 LOAN DOCUMENT FEES 22850 22850 5652803 4647410 1005393 0 6026637 6053680 2877223 1671824 1032669 74562 5959396 7542828 129743 116099 21936 21936 670 10318 10566 1701852 652077 602870 14450665 20012349 849693 196055 12000 12000 54438 174978 50000 5429266 10106243 82202 186896 6427599 10726172 X 5766543 6624373 2256523 2661804 8023066 9286177 14450665 20012349 X 921259 431852 -90000 X false true X true false X 2391746 890073 3125966 7707114 5689344 19804243 2391746 890073 3125966 7707114 5689344 19804243 4033448 15770795 1187 71 400 3509 100109 105276 19909519 2005487 0.79210 0.77770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 21936 21936 INVESTMENTS IN NBEF 1701852 F 1701852 ACCRUED WAGES 87811 ACCRUED VACATION 51705 ACCRUED INTEREST 47380 186896 X SCHEDULE D, PAGE 2, PART IV, LINE 2B THE ORGANIZATION HOLDS HOME IMPROVEMENT LOAN FUNDS IN ESCROW FOR CLIENTS AND RELEASES THE FUNDS TO THE CONTRACTORS BASED ON AN AGREED UPON DISBURSEMENT SCHEDULE AS THE IMPROVEMENTS ON THEIR HOMES ARE COMPLETED. SCHEDULE D, PAGE 3, PART X MCCI HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS, THEREFORE, GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED FOR IN THE ACCOMPANYING FINANCIAL STATEMENTS. ASC 740-10, "INCOME TAXES," REQUIRES MCCI TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON MCCI'S FINANCIAL STATEMENTS. MCCI REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE AND TO THE COMMONWEALTH OF MASSACHUSETTS ON AN ANNUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENERALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. SUBSTANTIALLY ALL OF MCCI'S INCOME, EXPENDITURES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT MCCI IS NOT SUBJECT TO MATERIAL UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS A TAX- EXEMPT NOT-FOR-PROFIT ENTITY. true TLE CENTER FOR URBAN ENTERPRENEURS 75 ARLINGTON STREET SUITE 500 BOSTON MA 02116 474094656 501C3 150000 COMM. EMPOWERMENT ENTERPRENEURSHIP FOR ALL INC 175 CABOR STREET LOWELL MA 01854 471858182 501C3 42000 COMM. EMPOWERMENT THE BOSTON FOUNDATION 75 ARLINGTON STREET BOSTON MA 02116 042104021 501C3 120000 LOAN LOSS 3 SOLAR LOAN SUBSIDY 1 12500 SCHEDULE I, PAGE 1, PART I, LINE 2 THE ORGANIZATION PROVIDED GRANTS TO HELP SET-UP OR IMPROVE BUSINESS BOOKKEEPING SYSTEMS AND TO HELP SMALL BUSINESSES STABILIZE IN THE FACE OF ECONOMIC CHALLENGES, CHANGES, OPPORUNITIES, AND CRISIS. THE ORGANIZATION DOES NOT TRACK USE OF THESE FUNDS. false false false false false false false false false GLYNN LLOYD EXECUTIVE DIRECTOR 215449 6026 6788 228263 FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE POLICY IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW AND ACKNOWLEDGEMENT WITH WRITTEN ACKNOWLEDGEMENT BY EACH BOARD MEMBER BEING RETAINED. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS USES RELEVANT BENCHMARKS TO SET THE SALARY LEVEL OF THE EXECUTIVE DIRECTOR. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS 1,335,032 85,968 0 CONTRACTED SERVICES 51,858 17,286 0 TOTAL 1,386,890 103,254 0 FORM 990, PART XI, LINE 9 CUMMULATIVE EFFECT ADJUSTMENT -90,000 THE ORGANIZATION ADOPTED ASU 2016-13 "FINANCIAL INSTRUMENTS - CREDIT LOSSES (TOPIC 326): MEASUREMENT OF CREDIT LOSSES ON FINANCIAL INSTRUMENTS" USING THE MODIFIED RETROSPECTIVE METHOD FOR ITS LOANS AND OTHER RECEIVABLES, UNDER WHICH THE ALLOWANCE ACCOUNTS WERE REMEASURED AS OF JANUARY 1, 2023, USING CECL MODEL, WITH THE CUMULATIVE EFFECT OF THE CHANGE BEING RECORDED TO NET ASSETS.