2025-10-15T22:50:22-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2024-01-01 043571892 NECTAR COMMUNITY INVESTMENTS INC NECT 9782582772 50 ISLAND STREET SUITE 103 LAWRENCE MA 01840 GLYNN LLOYD EXECUTIVE DIRECTOR 9782582772 2025-09-18 1 1 ZACHARY SEGAL P01511850 7813803520 2025-09-17 2024 2025-03-06 01:10:19Z X GLYNN LLOYD 50 ISLAND STREET SUITE 103 LAWRENCE MA 01840 6745373 0 X N/A 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. 10 10 17 10 0 0 5689344 5080382 784609 1135908 100109 237048 0 292035 6574062 6745373 329500 584650 0 0 1603272 1865571 0 0 0 3720031 3449764 5652803 5899985 921259 845388 20012349 24176225 10726172 14044660 9286177 10131565 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. 0 0 2173270 584650 997963 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. 1615177 429980 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. 674949 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. 4463396 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 17 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 1 1 MA X DAN PLOWDEN 9782582772 50 ISLAND STREET SUITE 103 LAWRENCE MA 01840 ABBOTT LAWRENCE DIRECTOR 5.00 X 0 0 0 ABEL VARGAS CLERK 5.00 X X 0 0 0 ARLEEN ZORRILA OUTGOING DIRECTOR 5.00 X 0 0 0 DANIEL RIVERA DIRECTOR 5.00 X 0 0 0 KRISTEN HAROL OUTGOING DIRECTOR 5.00 X 0 0 0 LISA KOZOL TREASURER 5.00 X X 0 0 0 LISA TORISSI OUTGOING DIRECTOR 5.00 X 0 0 0 MALIA LAZU PRESIDENT 5.00 X X 0 0 0 MATTHEW HANSON DIRECTOR 5.00 X 0 0 0 MICHELE WITTS DIRECTOR 5.00 X 0 0 0 NANCY STAGER DIRECTOR 5.00 X 0 0 0 ORLANDO WATKINS DIRECTOR 5.00 X 0 0 0 QUINCY MILLER DIRECTOR 5.00 X 0 0 0 YUN-JU CHOI OUTGOING DIRECTOR 5.00 X 0 0 0 DAN PLOWDEN CFO 40.00 X 150669 0 2550 GLYNN LLOYD EXECUTIVE DIRECTOR 40.00 X 214120 0 15855 AARON LACKMAN COMMERCIAL LENDING 40.00 X 112038 0 12695 ALEXANDRA NOVA COO 40.00 X 143064 0 5817 LISSETTE PAUKERT RESIDENTIAL SERVICES DIRECTOR 40.00 X 100091 0 28064 719982 0 64981 5 0 1 0 NBEF INVESTMENT MANAGERS LLC 94 INDIGO POINT ROAD SOUTH KINGDOM RI 02879 CONSULTING 245000 TBM CONSULTING 2 BOYLSTON STREET UNIT 5 JAMAICA PLAIN MA 02130 CONSULTING 234044 FLOWETIK LLC 89 FORT AVENUE BOSTON MA 02119 CONSULTING 190203 MEAGHAN PHILLIPS 8 LENNOX RD NAHANT MA 01908 CONSULTING 140000 RAFAEL FONSECA 29 LAKEVIEW AVENUE HAVERHILL MA 01830 CONSULTING 104293 5 938253 4142129 5080382 INTEREST FROM LOANS RE 522299 677213 677213 EXPENDITURE REVENUE 541900 292668 292668 LOAN SERVICE FEES 522299 166027 166027 1135908 237048 237048 OTHER REVENUE 900099 292035 292035 292035 6745373 1427943 0 237048 X 549580 549580 35070 35070 382894 264609 118285 1203746 834337 369409 37542 24402 13140 124770 81101 43669 116619 75802 40817 172339 155105 17234 277082 277082 1499617 1088022 411595 23764 23764 11645 6885 4760 289288 216966 72322 42811 32108 10703 19918 14938 4980 33903 25428 8475 195504 195504 24587 18440 6147 CREDIT LOSSES AND ALLOW 786020 786020 LOAN PROCESSING FEES 42673 42673 FEES, DUES, AND SUBS 30613 16406 14207 5899985 4463396 1436589 0 6053680 2667121 2877223 9042207 1032669 1404336 74562 203884 7542828 8213213 116099 113214 0 0 10566 1701852 2201852 602870 330398 20012349 24176225 196055 291190 12000 62500 174978 96306 50000 50000 10106243 11240781 186896 2303883 10726172 14044660 X 6624373 8169347 2661804 1962218 9286177 10131565 20012349 24176225 845388 0 X 0 1 X 1 0 X 890073 3125966 7707114 5689344 5080382 22492879 890073 3125966 7707114 5689344 5080382 22492879 3162284 19330595 71 400 3509 100109 237048 341137 4360 292035 296395 23130411 2957560 0.83570 0.79210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 0 INVESTMENTS IN NBEF 2201852 F 2201852 ACCRUED WAGES 17018 ACCRUED VACATION 54032 ACCRUED INTEREST 74183 CONDITIONAL ADVANCES 2038589 OTHER LIABILITIES 120061 2303883 X 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. PART X, LINE 2: THE ORGANIZATION QUALIFIES AS AN ORGANIZATION FORMED FOR CHARITABLE PURPOSES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND IS GENERALLY NOT SUBJECT TO INCOME TAX. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN ADDITION, THE ORGANIZATION IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) OF THE IRC. U.S. GAAP PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, THE ORGANIZATION'S INFORMATION/TAX RETURNS REMAIN OPEN FOR POSSIBLE EXAMINATION FOR THREE YEARS AFTER THE FILING DATE. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2021 REMAIN OPEN. 1 ABODE ENERGY MANAGEMENT 555 VIRGINIA ROAD CONCORD MA 01742 814696101 45502 0 BUSINESS SUPPORT ALL IN ENERGY PO BOX 69 ROSLINDALE MA 02131 824949924 501C3 58291 0 BUSINESS SUPPORT ARCHIPELAGO STRATEGIES GROUP INC 1828 CENTRE ST WEST ROXBURY MA 02132 814596678 187500 0 BUSINESS SUPPORT GREATER LAWRENCE COMMUNITY ACTION COUNCIL INC 305 ESSEX STREET LAWRENCE MA 01840 042397449 501C3 77875 0 BUSINESS SUPPORT TBM CONSULTING 2 BOYLSTON STREET UNIT 5 JAMAICA PLAIN MA 02130 814238658 53359 0 BUSINESS SUPPORT THE BOSTON FOUNDATION 75 ARLINGTON ST SUITE 3 BOSTON MA 02116 042104021 501C3 120000 0 PASS-THROUGH GRANT 3 3 SOLAR GRANTS 3 25180 BUSINESS SUPPORT 1 9890 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. X X 0 0 0 0 0 0 0 0 0 GLYNN LLOYD EXECUTIVE DIRECTOR 214120 0 0 0 0 0 6620 0 9235 0 229975 0 0 0 DAN PLOWDEN CFO 150669 0 0 0 0 0 0 0 2550 0 153219 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION HAS CHANGED ITS NAME FROM "LOWELL COMMUNITY LOAN FUND, INC." TO "NECTAR COMMUNITY INVESTMENTS, INC." DURING THE TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY THE POLICY IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW AND ACKNOWLEDGEMENT WITH WRITTEN ACKNOWLEDGEMENT BY EACH BOARD MEMBER BEING RETAINED. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANZATION'S COMPENSATION PROCESS FOR TOP OFFICIAL THE BOARD OF DIRECTORS USES RELEVANT BENCHMARKS TO SET THE SALARY LEVEL OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 1,048,839. MANAGEMENT AND GENERAL EXPENSES 382,217. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,431,056. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 26,047. MANAGEMENT AND GENERAL EXPENSES 8,682. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 34,729. COMPLIANCE SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 16,317. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,317. PAYROLL SERVICES: PROGRAM SERVICE EXPENSES 13,136. MANAGEMENT AND GENERAL EXPENSES 4,379. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,515.