2025-01-27T11:05:27-06:00 2024-06-30 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2023-07-01 041988955 WORCESTER COUNTY MECHANICS ASSOCIATION DBA MECHANICS HALL WORC 5087525608 321 MAIN STREET WORCESTER MA 01608 KATHLEEN M GAGNE EXECUTIVE DIRECTOR 5087525608 2025-01-25 1 0 MARK G WOJCICKI P01746737 5087557107 2025-01-25 2023 2025-03-06 01:10:19Z MECHANICS HALL KATHLEEN M GAGNE 321 MAIN STREET WORCESTER MA 01608 4606788 0 X WWW.MECHANICSHALL.ORG X 1842 MA WORCESTER COUNTY MECHANICS ASSOCIATION IS A NON-PROFIT ARTS AND CULTURE ORGANIZATION. OUR MISSION IS TO ENRICH THE CULTURAL, SOCIAL, AND ECONOMIC VITALITY OF THE COMMUNITY BY STEWARDING MECHANICS HALL, A HISTORIC LANDMARK AND WORLD-CLASS PERFORMANCE HALL, TO SERVE AS AN INSPIRATIONAL GATHERING PLACE FOR PROGRAMS AND EVENTS. ITS MOST SIGNIFICANT ACTIVITIES ARE EVENT HOSTING, PRESERVATION, AND COMMUNITY, ORGAN, AND EDUCATIONAL PROGRAMMING. 28 28 56 188 0 0 1155633 1543436 1437533 1479101 238554 739956 5708 -101810 2837428 3660683 0 0 0 0 1180626 1264374 0 0 312109 1300930 1506658 2481556 2771032 355872 889651 9800605 11000372 212757 210896 9587848 10789476 X TO ENRICH THE CULTURAL, SOCIAL, AND ECONOMIC VITALITY OF THE COMMUNITY BY STEWARDING MECHANICS HALL, A HISTORIC LANDMARK AND WORLD-CLASS PERFORMANCE HALL, WHICH SERVES AS AN INSPIRATIONAL GATHERING PLACE FOR PROGRAMS AND EVENTS THAT SHOWCASE THE VAST DIVERSITY OF HUMAN EXPERIENCE. 0 0 1112621 1275775 EVENT HOSTING AND TICKETING: MECHANICS HALL SERVES A WIDE VARIETY OF CLIENT EVENTS FROM FUNDRAISING GALAS TO CONCERTS AND RECORDED PERFORMANCES OF WORLD-RENOWNED MUSICAL ARTISTS AS WELL AS THE MILESTONE CELEBRATORY EVENTS OF GREATER WORCESTER AND BEYOND - PROMS, GRADUATIONS, WEDDINGS, AND OTHER CULTURAL CELEBRATIONS. THE MAJORITY OF OUR HOSTED EVENTS INVOLVE MUSICAL, ORATORY, OR OTHER ARTISTIC PERFORMANCE THAT CELEBRATE THE HALL'S IMPECCABLE AND CELEBRATED ACOUSTICS. IN FY24 WE HOSTED 202 EVENTS. FY24 EVENTS ENGAGED APPROXIMATELY 50,000 ADULTS AND 12,000 CHILDREN IN VARIOUS ARTISTIC AND CULTURAL PROGRAMS, AND APPROXIMATELY 3,000 ARTISTS WERE INVOLVED IN THESE PRODUCTIONS. THE HALL PROUDLY SUPPORTS GREATER WORCESTER'S NONPROFIT COMMUNITY AND THEIR MISSIONS BY MAKING THE HALL AS FINANCIALLY ACCESSIBLE AS POSSIBLE. WE OFFERED OVER $295,000 OF EVENT DISCOUNTS TO NONPROFIT ORGANIZATIONS IN FY24. 524233 51746 PRESERVATION: MECHANICS HALL IS INTERNATIONALLY REGARDED AS ONE OF THE WORLD'S GREAT CONCERT HALLS FOR ITS SUPERB ACOUSTICS AND INSPIRATIONAL BEAUTY. 18% OF OUR ANNUAL OPERATING EXPENSES GO TOWARD ENSURING THAT OUR HISTORICAL BUILDING IS PROPERLY MAINTAINED AND FUNCTIONS PERFECTLY TO WELCOME VISITORS FROM WORCESTER AND ALL OVER THE WORLD. WE ARE ALSO LISTED IN THE NATIONAL REGISTER OF HISTORIC PLACES. 234579 98885 COMMUNITY, ORGAN, AND EDUCATIONAL PROGRAMMING: MECHANICS HALL PRODUCES A SERIES OF FREE COMMUNITY CONCERTS AND SEVERAL SPECIAL CONCERTS AND EDUCATIONAL EVENTS EACH YEAR. THIS YEAR FEATURED BROWN BAG CONCERTS, ORGAN CONCERTS, AND CHILDREN'S PROGRAMS AS WELL AS THE SECOND YEAR OF OUR TWO NEW PROGRAMS: CLUB 321 AND THE MECHANICS HALL YOUTH SINGERS. CLUB 321 IS A NEW SERIES HOSTED IN OUR MORE INTIMATE WASHBURN HALL AND BRINGS AFFORDABLE, SOPHISTICATED, LIVE MUSIC ENTERTAINMENT TO THE HEART OF DOWNTOWN. YOUTH SINGERS IS THE ANCHOR YOUTH PROGRAM AT MECHANICS HALL, A RECOGNITION THAT WORCESTER'S CHILDREN ARE THE HEART AND SOUL OF OUR RICHLY MULTICULTURAL CITY. OPEN TO 4TH THROUGH 7TH GRADERS FROM EVERY WORCESTER NEIGHBORHOOD, THIS NON-AUDITIONED CHORUS GIVES CHILDREN FROM ALL BACKGROUNDS THE OPPORTUNITY TO PRACTICE AND PERFORM AT MECHANICS HALL - THEIR OWN "HOME" CONCERT HALL. UNDER PROFESSIONAL DIRECTION, THEY LEARN TO SING A VARIETY OF MUSIC, BUILD FRIENDSHIPS, AND WORK TOWARD EXCELLENCE - TOGETHER AND IN HARMONY. THERE IS NO COST TO PARTICIPATE IN THE CHORUS. 15383 59243 MECHANICS HALL LEASES OFFICE SPACE TO SIX TENANTS THAT HAVE SIMILAR MISSIONS AS THE HALL OR ARE OTHERWISE NONPROFIT ENTITIES. FIVE TENANTS ARE RELATED TO MUSIC PERFORMANCE, AND THREE PRODUCE LIVE MUSICAL PERFORMANCE EVENTS IN THE HALL. MECHANICS HALL OFFERS ALL TENANTS RENTAL RATES THAT ARE BELOW MARKET VALUE TO HELP SUPPORT THEIR MISSIONS. 15383 59243 1886816 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 39 0 1 56 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X X KATHLEEN M GAGNE 5087525608 321 MAIN STREET WORCESTER MA 01608 TOM MCGREGOR PRESIDENT 1.00 X X 0 0 0 PETER THOMAS FIRST VICE PRESIDENT 1.00 X X 0 0 0 ELLEN CONTE CLERK 1.00 X X 0 0 0 BRUCE ELLIS TRUSTEE 1.00 X 0 0 0 JAMIE LEEHY VICE PRESIDENT 1.00 X X 0 0 0 STACEY LUSTER TRUSTEE 1.00 X 0 0 0 JENNIFER ANTKOWIAK TRUSTEE 1.00 X 0 0 0 ANTHONY CONSOLMAGNO TREASURER 1.00 X X 0 0 0 DAVID CHEARO TRUSTEE 1.00 X 0 0 0 BOB GOODELL TRUSTEE 1.00 X 0 0 0 KATHRYN CROCKETT TRUSTEE 1.00 X 0 0 0 PATRICIA DAVIDSON TRUSTEE 1.00 X 0 0 0 SATYA MITRA VICE PRESIDENT 1.00 X X 0 0 0 ANTHONY D'ELIA TRUSTEE 1.00 X 0 0 0 JAMES GOLDSBERRY TRUSTEE 1.00 X 0 0 0 ELAINE MCKENNA-YEAW TRUSTEE 1.00 X 0 0 0 MILISSA OBARA TRUSTEE 1.00 X 0 0 0 DEBORAH PACKARD TRUSTEE 1.00 X 0 0 0 GISELLE RIVERA-FLORES TRUSTEE 1.00 X 0 0 0 DAVID SMITH VICE PRESIDENT 1.00 X X 0 0 0 MARGARET WONG TRUSTEE 1.00 X 0 0 0 DIANE GIAMPA TRUSTEE 1.00 X 0 0 0 JOHN DANIELS TRUSTEE 1.00 X 0 0 0 PAUL KELLY TRUSTEE 1.00 X 0 0 0 EVAN MALONEY TRUSTEE 1.00 X 0 0 0 VICTORIA MARIANO TRUSTEE 1.00 X 0 0 0 ABBY MARSCHKE TRUSTEE 1.00 X 0 0 0 KATHLEEN GAGNE EXECUTIVE DIRECTOR 40.00 X 116908 0 11892 116908 0 11892 1 0 0 0 0 5595 23900 29900 1484041 1543436 EVENT HOSTING AND TICKETING 711310 1275775 1275775 COMM, ORGAN, & ED. PROGRAMMING 711310 98885 98885 OFFICE RENTALS 531120 52695 52695 PRESERVATION 712120 51746 51746 1479101 312779 312779 1252894 825717 427177 427177 427177 12030 23900 120388 -108358 -108358 OTHER INCOME 900099 6548 6548 6548 3660683 1485649 0 631598 116908 70145 23382 23381 954991 715476 165010 74505 192475 117254 48408 26813 27410 27410 39916 39916 71700 31058 29067 11575 31242 2552 22744 5946 53756 27390 19257 7109 244063 202980 37445 3638 282934 226347 56587 133382 67609 65508 265 FOOD AND BEVERAGES 170995 159937 11058 PORTRAIT COLLECTION EXP 156557 156557 REIMBURSABLE EXPENSES 129809 129809 MUSICAL PERFORMANCES 52096 52096 112798 84163 26315 2320 2771032 1886816 572107 312109 940561 951891 296111 151563 109520 109712 14998 27305 4605 5330 15122957 10443431 4248539 4679526 3443311 4262019 742960 813026 9800605 11000372 140782 146983 71975 63913 212757 210896 X 8892645 9724488 695203 1064988 9587848 10789476 9800605 11000372 X 889651 219715 92262 X 0 1 X 1 0 X 254086 273045 1634135 1155632 1555466 4872364 254086 273045 1634135 1155632 1555466 4872364 1343990 3528374 204006 343976 490049 238905 740308 2017244 6889608 5084072 0.51210 0.57540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 4907450 1344031 1011254 1325979 5936756 3739344 856239 586385 274518 4907450 4533829 120196 -716887 197794 3739344 3680571 1140344 287086 4533829 3732020 71129 356852 479430 3680571 0.82060 0.00290 0.17650 1 0 31278 31278 12843699 8910246 3933453 2247980 1533185 714795 4679526 CASH VALUE OF LIFE INSURANCE 167905 BENEFICIAL INTEREST IN ASSETS HELD BY COMMUNITY FOUNDATION 644595 TENANT DEPOSITS 526 813026 4053132 219715 212650 432365 3620767 39916 39916 3660683 2851504 120388 120388 2731116 39916 39916 2771032 PART III, LINE 1A: AS ALLOWED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA AND IN CONFORMITY WITH THE PRACTICES FOLLOWED BY MANY MUSEUMS, THE ASSOCIATION HAS NOT CAPITALIZED ITS COLLECTION OF ART OBJECTS AND OTHER COLLECTION ITEMS PURCHASED OR DONATED. THE COLLECTION IS HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FOR FINANCIAL GAIN. THE ASSOCIATION CONTINUALLY REVIEWS ITS COLLECTION AND MAY DEACCESSION OR ACQUIRE ADDITIONAL ITEMS. EXPENDITURES FOR ADDITIONAL COLLECTION ITEMS ARE PRESENTED AS A REDUCTION IN THE APPROPRIATE CLASS OF NET ASSETS. THE ASSOCIATION HAS ESTABLISHED A POLICY WHEREBY PROCEEDS FROM ITEMS DEACCESSED ARE UTILIZED TO ACQUIRE OTHER ITEMS FOR COLLECTION. PART III, LINE 4: TWENTY-FIVE PORTRAITS OF HISTORICAL MEN AND WOMEN AND OVER TWENTY PIECES OF FINE FURNITURE AND DECORATIVE ART. THE COLLECTION IS HELD FOR PUBLIC EXHIBITION AND EDUCATION. PART V, LINE 4: THE ASSOCIATION'S ENDOWMENT CONSISTS OF FOUR INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE ASSOCIATION TO FUNCTION AS QUASI-ENDOWMENTS AND ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. ENDOWMENT FUNDS INCLUDE CONTRIBUTIONS RECEIVABLE AND INVESTED GIFTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE ASSOCIATION CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED AS NON-EXPENDABLE NET ASSETS IS CLASSIFIED AS EXPENDABLE NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE ASSOCIATION IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. FURTHER, THE ASSOCIATION CAN DESIGNATE DONOR RESTRICTED NET ASSETS AS QUASI-ENDOWMENT WHEN LARGE GIFTS ARE RESTRICTED FOR A SPECIFIC PURPOSE AND THE GIFT IS IN EXCESS OF THE ASSOCIATION'S CURRENT NEEDS. THE RESOURCES FROM THE QUASI-ENDOWMENT ARE AVAILABLE TO SUPPORT EXPENDITURES FOR THE SPECIFIED PURPOSE EVEN IF THE GOVERNING BOARD DOES NOT APPROPRIATE THEM. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE ASSOCIATION MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE ASSOCIATION AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE ASSOCIATION; AND THE INVESTMENT POLICIES OF THE ASSOCIATION. THE ASSOCIATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS BOARD-DESIGNATED AND OTHER ENDOWMENT ASSETS THAT STRIVE TO PROVIDE A STREAM OF FUNDING TO SUPPORT DESIGNATED PROGRAMS AND EXPENSES BY MAXIMIZING LONG-TERM RETURNS WITH A FOCUS ON CAPITAL APPRECIATION TO MAINTAIN THE PURCHASING POWER OF THOSE ENDOWMENT ASSETS OVER THE LONG-TERM. ENDOWMENT ASSETS ARE INVESTED IN A WELL-DIVERSIFIED ASSET MIX, WHICH INCLUDES EQUITY AND FIXED INCOME SECURITIES, INTENDED TO RESULT IN A CONSISTENT INFLATION-PROTECTED RATE OF RETURN THAT HAS SUFFICIENT LIQUIDITY TO MAKE ANNUAL DISTRIBUTIONS AS REQUIRED BY VOTE OF THE BOARD OF TRUSTEES. INVESTMENT RISK IS MEASURED IN TERMS OF THE TOTAL ENDOWMENT FUND. INVESTMENT ASSETS AND ALLOCATION BETWEEN ASSET CLASSES, AND STRATEGIES ARE MANAGED SO AS NOT TO EXPOSE THE FUND TO UNACCEPTABLE LEVELS OF RISK. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE ASSOCIATION RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST, DIVIDENDS AND NET RENTAL INCOME). THE ASSOCIATION HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE ASSOCIATION MAY ALSO RECEIVE ANNUAL DISTRIBUTIONS OF UP TO A MAXIMUM OF 5.00% OF THE TRAILING TWELVE QUARTERS OF INCOME EARNED BY THE FUND HELD AND MANAGED BY GREATER WORCESTER COMMUNITY FOUNDATION. THE BOARD OF TRUSTEES HAS VOTED TO TAKE A DISTRIBUTION OF 4.50% BASED UPON THE OPERATING REQUIREMENTS OF THE ASSOCIATION. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE ASSOCIATION TO RETAIN AS A FUND OF PERPETUAL DURATION. THE ASSOCIATION MAY APPROPRIATE FOR EXPENDITURE FROM THESE UNDERWATER ENDOWMENT FUNDS IN ACCORDANCE WITH THE PRUDENT MEASURES PRESCRIBED BY STATE LAW. THERE WERE NO SUCH DEFICIENCIES AS OF JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: RETURN ON BENEFICIAL INTEREST IN ASSETS HELD BY COMMUNITY FOUNDATION 92,262. FUNDRAISING EXPENSE 120,388. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 120,388. PORTRAITS CELEBRATION 35930 23900 12030 120388 35930 23900 12030 120388 120388 -108358 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE PRELIMINARY FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE FINANCE COMMITTEE. THE FINANCE COMMITTEE THEN PRESENTS THE RETURN TO THE EXECUTIVE COMMITTEE FOR THEIR APPROVAL. THE RETURN IS UPDATED FOR ANY CHANGES, PROCESSED AND FILED. A COPY OF THE COMPLETED FILED RETURN IS GIVEN TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE COLLECTED FROM EVERY AFFILIATED PERSON, AS DEFINED IN THE DISCLOSURE FORM, AND REVIEWED BY THE EXECUTIVE DIRECTOR AND THE DIRECTOR OF FINANCE TO DETERMINE: 1) COMPLETENESS OF THE DISCLOSURES AND 2) WHETHER ALL POTENTIAL CONFLICTS HAVE BEEN DISCLOSED TO THE APPROPRIATE COMMITTEE OF THE BOARD. THIS REVIEW IS PERFORMED AT LEAST ANNUALLY. ADDITIONALLY, POTENTIAL CONFLICTS ARE BROUGHT TO THE BOARD AS THEY OCCUR BY THOSE WITH THE POTENTIAL CONFLICT, AS REQUIRED BY THE WRITTEN POLICY. THE EXECUTIVE DIRECTOR AND THE DIRECTOR OF FINANCE, HAVING THE MOST COMPLETE KNOWLEDGE OF ALL POTENTIAL CONFLICTS, ENFORCE THIS COMPLIANCE TO THE EXTENT THAT THEY ARE AWARE OF SUCH POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR SUBMITS A SUMMARY OF ACCOMPLISHMENTS DURING THE YEAR TO THE PRESIDENT OF THE BOARD. THE DOCUMENT IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE THEN MEETS WITH THE EXECUTIVE DIRECTOR FOR THE FORMAL ANNUAL REVIEW AND FORMALIZES THEIR RECOMMENDATIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIALS STATEMENTS CAN BE VIEWED UPON REQUEST. FORM 990, PART XI, LINE 9: RETURN ON BENEFICIAL INTEREST IN ASSETS HELD BY COMMUNITY FOUNDATION 92,262.