2024-12-16T09:23:19-05:00 2024-06-30 042917204 ANSTISS & CO PC 6 OMNI WAY STE 201 CHELMSFORD MA 018244187 990 2023-07-01 043179126 LOWELL TELECOMMUNICATIONS CORPORATION LOWE 9784585400 246 MARKET STREET LOWELL MA 01852 KAREN SENNOTT TREASURER/CLERK 9784585400 2024-11-12 true false JAYNE A ANDREWS P00514653 9784522500 2024-11-12 2023 2024-10-15 13:58:12Z ADAM MCCUNE 246 MARKET STREET LOWELL MA 01852 690440 false X WWW.LTC.ORG X 1992 MA LOWELL TELECOMMUNICATION CORPORATION'S MISSION IS TO STRENGTHEN THE CITY OF LOWELL AS A COMMUNITY MEDIA AND EDUCATION CENTER THAT EMPOWERS, CONNECTS, AND INFORMS ALL RESIDENTS, BUSINESSES, AND ORGANIZATIONS IN THE CITY. LTC PROVIDES EQUIPMENT, FACILITIES AND TRAINING TO LOWELL RESIDENTS TO PRODUCE PROGRAMMING FOR LTC'S THREE CHANNELS. LTC ALSO PROVIDES GALLERY SPACE FOR LOCAL ARTISTS, YOUTH MEDIA PROGRAMS, AND PRODUCTION SERVICES FOR BUSINESSES. 12 12 8 30 0 640455 514204 184906 174392 232 1658 0 825593 690254 0 0 439229 509450 0 9868 307987 287636 747216 797086 78377 -106832 1510769 1480261 35172 33461 1475597 1446800 X LOWELL TELECOMMUNICATION CORPORATION'S MISSION IS TO STRENGTHEN THE CITY OF LOWELL AS A COMMUNITY MEDIA AND EDUCATION CENTER THAT EMPOWERS, CONNECTS, AND INFORMS ALL RESIDENTS, BUSINESSES, AND ORGANIZATIONS IN THE CITY. LTC PROVIDES EQUIPMENT, FACILITIES AND TRAINING TO LOWELL RESIDENTS TO PRODUCE PROGRAMMING FOR LTC'S THREE CHANNELS. LTC ALSO PROVIDES GALLERY SPACE FOR LOCAL ARTISTS, YOUTH MEDIA PROGRAMS, AND PRODUCTION SERVICES FOR BUSINESSES. false false 362545 6392 PROVIDES PROGRAMMING ON THE PUBLIC ACCESS, INCLUDING LIVE COVERAGE OF CITY COUNCIL AND SCHOOL COMMITTEE MEETINGS, COMMUNITY PRODUCED PROGRAMMING, AND A COMPUTER GENERATED BULLETIN BOARD OF COMMUNITY ANNOUNCEMENTS. 270028 168000 LOWELL TELECOMMUNICATION CORPORATION'S GOVERNMENT ACCESS CHANNEL FEATURES PROGRAMS FOCUSING ON MUNICIPAL AGENCIES AND THEIR ACTIVITIES TO KEEP CITIZENS INFORMED ABOUT CITY HALL. 632573 true true false false false false false false false true true false false true false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 8 true false false false false false false false false false false false false X 12 12 false false false false false false false true true false false true true true true false false true false false MA X THE ORGANIZATION 9784585400 246 MARKET STREET LOWELL MA 01852 ADAM MCCUNE EXECUTIVE DI 40.00 X X 28082 0 15881 ERIC SACK PRESIDENT 10.00 X X 0 0 0 SIDNEY LIANG VICE PRESIDE 5.00 X X 0 0 0 KAREN SENNOTT TREASURER/CL 5.00 X X 0 0 0 CONNIE MARTIN DIRECTOR 1.00 X 0 0 0 FRANCOIS DE COSTERD DIRECTOR 1.00 X 0 0 0 STACEY THOMPSON DIRECTOR 1.00 X 0 0 0 KEVIN WETMORE DIRECTOR 1.00 X 0 0 0 ALLESANDRA FISHER DIRECTOR 1.00 X 0 0 0 PAVEL ROMANIKO DIRECTOR 1.00 X 0 0 0 JENNIFER MYERS DIRECTOR 1.00 X 0 0 0 VESNA NUON DIRECTOR 1.00 X 0 0 0 FABIOLA RIVERA WHITE DIRECTOR 1.00 X 0 0 0 28082 15881 false false false 6984 507220 514204 FEES FOR SERVICE 174392 174392 174392 1844 1844 186 -186 -186 -186 690254 174392 1658 95323 38129 48090 9104 330685 293103 37582 2393 1896 451 46 44005 41085 2920 37044 29344 6982 718 2056 2056 16750 16750 25078 25078 1991 1991 8282 5816 2466 11880 9504 2376 161740 143165 18575 371 297 74 30354 24283 6071 1325 1325 STUDIO EXPENSES 12258 9806 2452 PAYROLL SERVICE 4612 2767 1845 TELEPHONE 4438 3550 888 COPIER LEASE 1673 1338 335 4828 3412 1416 797086 632573 154645 9868 134549 69505 566883 541233 262271 238860 9785 7225 1575158 1521206 45830 53952 491451 569486 1510769 1480261 35172 33461 35172 33461 X 1475024 1446227 573 573 1475597 1446800 1510769 1480261 X -106832 78035 X false true X true false X 636264 695353 544283 640455 514204 3030559 182250 180389 179565 184906 174392 901502 818514 875742 723848 825361 688596 3932061 3932061 4774 3143 417 232 1844 10410 4774 3143 417 232 1844 10410 823288 878885 724265 825593 690440 3942471 0.99740 0.99690 0.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 491451 86387 8352 569486 437935 61516 8000 491451 500000 -59993 2072 437935 1.00000 true false 1575158 1521206 53952 53952 BENEFICIAL INTEREST IN AGENCY ENDOWM 569486 569486 X 768289 768289 -78035 -78035 690254 797086 797086 797086 SCHEDULE D, PAGE 2, PART V, LINE 4 THE PURPOSE OF THE FUND IS TO PROVIDE ANNUAL SUPPORT, AND AS NECESSARY CAPITAL SUPPORT, TO LOWELL TELEMEDIA CENTER IN FURTHERANCE OF THE AGENCY'S MISSION TO STRENGTHEN THE CITY OF LOWELL AS A COMMUNITY MEDIA AND EDUCATION CENTER THAT EMPOWERS, CONNECTS, AND INFORMS ALL RESIDENTS, BUSINESSES, AND ORGANIZATIONS IN THE CITY. SCHEDULE D, PAGE 3, PART X THE ORGANIZATION 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, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES," REQUIRES THE ORGANIZATION TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION 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. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO REVIEW BY THE TAXING AUTHORITIES FOR PERIODS BEFORE 2021. SUBSTANTIALLY ALL THE ORGANIZATION'S INCOME, EXPENDITURES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS A TAX-EXEMPT NOT-FOR-PROFIT ENTITY. SCHEDULE D, PAGE 4, PART XI, LINE 4B CHANGE IN NET ASSET VALUE OF BENEFICIAL INTEREST -78,035 FORM 990 - ORGANIZATION'S MISSION LOWELL TELECOMMUNICATION CORPORATION'S MISSION IS TO STRENGTHEN THE CITY OF LOWELL AS A COMMUNITY MEDIA AND EDUCATION CENTER THAT EMPOWERS, CONNECTS, AND INFORMS ALL RESIDENTS, BUSINESSES, AND ORGANIZATIONS IN THE CITY. LTC PROVIDES EQUIPMENT, FACILITIES AND TRAINING TO LOWELL RESIDENTS TO PRODUCE PROGRAMMING FOR LTC'S THREE CHANNELS. LTC ALSO PROVIDES GALLERY SPACE FOR LOCAL ARTISTS, YOUTH MEDIA PROGRAMS, AND PRODUCTION SERVICES FOR BUSINESSES. FORM 990, PAGE 6, PART VI, LINE 11B A MEETING WILL BE HELD BETWEEN THE FINANCE COMMITTEE AND THE EXTERNAL AUDITORS FOLLOWING THE COMPLETION OF THE ANNUAL AUDIT. THE MEETING WILL INCLUDE DISCUSSIONS RELATING TO THE PERFORMANCE OF MANAGEMENT, RESULTS FROM OPERATIONS, SCOPE LIMITATIONS, PROPOSED ADJUSTING ENTRIES, CHANGES IN ACCOUNTING AND TAX MATTERS AND OTHER TOPICS AT THE DISCRETION OF THE AUDITORS OR MEMBERS OF THE FINANCE COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 12C A FORM IS COMPLETED ANNUALLY BY CURRENT BOARD MEMBERS. LTC PERSONNEL POLICIES STATE THAT LTC EMPLOYEES HAVE AN OBLIGATION TO CONDUCT BUSINESS WITHIN GUIDELINES THAT PROHIBIT ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. IF EMPLOYEES HAVE ANY INFLUENCE ON TRANSACTIONS INVOLVING PURCHASES CONTRACTS, OR LEASES, IT IS REQUESTED THAT THEY DISCLOSE TO AN OFFICER OF LTC AS SOON AS POSSIBLE THE EXISTENCE OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST SO THAT SAFEGUARDS CAN BE ESTABLISHED TO PROTECT ALL PARTIES. FORM 990, PAGE 6, PART VI, LINE 15A MEMBERS OF THE EXECUTIVE COMMITTEE MEET AND DISCUSS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR ANNUALLY. COMPENSATION IS BASED UPON PERFORMANCE AND A COMPARATIVE PROCESS IS USED WHEN DETERMINING THE LEVEL OF COMPENSATION. DATA IS GATHERED FROM SIMILAR SIZED NON-PROFIT ORGANIZATIONS IN THE AREA WITH SIMILAR BUDGETS. FORM 990, PAGE 6, PART VI, LINE 19 ALL STATEMENTS AND FORMS ARE AVAILABLE UPON REQUEST FROM THE MAIN OFFICE. FORM 990, PART XI, LINE 9 CHANGE IN NET ASSET VALUE OF BENEFICIAL INTEREST 78,035