2025-12-01T08:28:03-06:00 2024-12-31 431985162 SMITH SULLIVAN & BROWN PC 80 FLANDERS ROAD SUITE 302 WESTBOROUGH MA 01581 990 2024-01-01 043165556 THE NANTUCKET EDUCATION TRUST INC NANT 5082287285 PO BOX 3163 NANTUCKET MA 025843163 JOHN RICCIO TREASURER 5082287285 2025-12-01 1 1 SANDRA M BROWN CPA P01614103 5088717178 2025-11-17 2024 2025-03-06 01:10:19Z X JOHN RICCIO PO BOX 3163 NANTUCKET MA 025843163 386945 0 X WWW.NANTUCKETEDUCATIONTRUST.ORG X 1992 MA NANTUCKET EDUCATION TRUST (NET) IS AN AUTONOMOUS ORGANIZATION WITH ITS OWN BY-LAWS AND BOARD OF DIRECTORS. ROOTED IN A COMMUNITY DISTINGUISHED BY ITS UNIQUE HISTORY AND SETTING, NET'S MISSION IS: TO ENHANCE EDUCATIONAL OPPORTUNITIES ON THE TOWN OF NANTUCKET BY MOBILIZING PRIVATE SECTOR RESOURCES AND EXPERTISE; TO FOSTER ALLIANCES AMONG BUSINESS, COMMUNITY AND SCHOOL INTERESTS, AND TO SERVE AS A CATALYST FOR PUBLIC AND PRIVATE PARTNERSHIPS THAT BENEFIT EDUCATION; TO PROMOTE THE EXCHANGE OF IDEAS AMONG ISLAND SCHOOLS AS WELL AS THOSE FROM OTHER COMMUNITIES; TO SUPPORT PROGRAMS THAT HONOR EXCELLENCE IN TEACHING AND LEARNING. NET CONTINUOUSLY SEEKS NEW WAYS TO SUPPORT EXISTING INITIATIVES AS WELL AS EXPLORE STRATEGIES FOR PROMOTING LASTING, SYSTEM-WIDE IMPROVEMENTS. IT IS THE ORGANIZATION'S GOAL TO TAP NEW SOURCES THAT CAN ASSIST TEACHERS AND STUDENTS, WHILE CONCURRENTLY IMPLEMENTING MORE EFFECTIVE SCHOOL PROGRAMS. 9 9 0 0 0 0 1210 449 304274 319925 4163 24321 0 0 309647 344695 18405 9113 0 0 4800 4800 0 0 0 225287 223418 248492 237331 61155 107364 2632062 2739939 1696630 1668287 935432 1071652 X NANTUCKET EDUCATION TRUST (NET) IS AN AUTONOMOUS ORGANIZATION WITH ITS OWN BY-LAWS AND BOARD OF DIRECTORS. ROOTED IN A COMMUNITY DISTINGUISHED BY ITS UNIQUE HISTORY AND SETTING, NET'S MISSION IS: TO ENHANCE EDUCATIONAL OPPORTUNITIES ON THE TOWN OF NANTUCKET BY MOBILIZING PRIVATE SECTOR RESOURCES AND EXPERTISE; TO FOSTER ALLIANCES AMONG BUSINESS, COMMUNITY AND SCHOOL INTERESTS, AND TO SERVE AS A CATALYST FOR PUBLIC AND PRIVATE PARTNERSHIPS THAT BENEFIT EDUCATION; TO PROMOTE THE EXCHANGE OF IDEAS AMONG ISLAND SCHOOLS AS WELL AS THOSE FROM OTHER COMMUNITIES; TO SUPPORT PROGRAMS THAT HONOR EXCELLENCE IN TEACHING AND LEARNING. NET CONTINUOUSLY SEEKS NEW WAYS TO SUPPORT EXISTING INITIATIVES AS WELL AS EXPLORE STRATEGIES FOR PROMOTING LASTING, SYSTEM-WIDE IMPROVEMENTS. IT IS THE ORGANIZATION'S GOAL TO TAP NEW SOURCES THAT CAN ASSIST TEACHERS AND STUDENTS, WHILE CONCURRENTLY IMPLEMENTING MORE EFFECTIVE SCHOOL PROGRAMS. 0 0 177232 319925 CONSTRUCT, MANAGE, MAINTAIN, AND CURATE 12 AFFORDABLE HOUSING UNITS FOR THE BENEFIT OF NANTUCKET PUBLIC SCHOOL TEACHERS, ADMINISTRATORS, AND STAFF. 28932 9113 PROVIDE EDUCATIONAL PROGRAMS IN THE NANTUCKET PUBLIC SCHOOL SYSTEM INCLUDING THE PURCHASE OF EQUIPMENT AND THE ISSUANCE OF GRANTS TO TEACHERS AND/OR STUDENTS, SPONSORSHIP OF LECTURES, SEMINARS, AND WORKSHOPS AND PARTICIPATION IN SATELLITE PROGRAMS COORDINATED BY THE SYSTEM, BUT OUTSIDE THE SCOOP OF ITS BUDGET PARAMETERS. 206164 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 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 1 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X X MARTIN ANGUELOV 5082287285 10 SURFSIDE ROAD NANTUCKET MA 02554 MARTIN ANGUELOV DIRECTOR/BOOKKEEPER 1.00 X 4800 0 0 HADLEY DUTRA PRESIDENT 1.00 X X 0 0 0 ELIZABETH HALLETT VICE PRESIDENT 1.00 X X 0 0 0 JOHN RICCIO TREASURER 1.00 X X 0 0 0 ALICIA GRAZIADEI CLERK 1.00 X X 0 0 0 MARIE LEMBERG DIRECTOR 1.00 X 0 0 0 MEG BROWERS DIRECTOR 1.00 X 0 0 0 SHANTAW BLOISE-MYRPHY DIRECTOR 1.00 X 0 0 0 LAURA GALLAGHER-BYRNE DIRECTOR 1.00 X 0 0 0 4800 0 0 0 0 0 0 BG CARPENTRY INC 8 COW POND LANE NANTUCKET MA 02254 CARPENTRY CONTRACTOR SERVICES 250329 1 449 449 RENTAL INCOME 531390 319925 319925 319925 16571 16571 50000 42250 7750 7750 7750 344695 319925 0 24321 9113 9113 4800 4800 8800 8800 2003 2003 10215 8250 1965 3537 630 2907 20327 20327 58092 58092 83888 83888 16737 6045 10692 PROGRAM EXPENSES 19819 19819 237331 206164 31167 0 17252 30374 176011 227803 120000 3444554 1546121 1738252 1898433 558035 558416 22512 24913 2632062 2739939 2777 2400 2400 22512 24913 1668941 1640974 1696630 1668287 X 820168 974028 115264 97624 935432 1071652 2632062 2739939 107364 28856 0 X 1 X 0 0 0 X 1200 4100 3500 1210 449 10459 1200 4100 3500 1210 449 10459 1514 8945 5345 1801 10723 19746 16571 54186 64645 1543884 0.13840 0.23660 X THE ORGANIZATION QUALIFIES AS A PUBLIC CHARITY UNDER SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE, BASED ON THE TOTALITY OF ITS FACTS AND CIRCUMSTANCES, EVEN IF IT DOES NOT MEET THE PUBLIC SUPPORT TEST FOR THE CURRENT TAX YEAR. THE FOLLOWING DEMONSTRATES THE ORGANIZATION'S COMMITMENT TO SERVING THE PUBLIC INTEREST AND SUBSTANTIATES ITS STATUS AS A PUBLIC CHARITY:1. DIVERSE AND COMMUNITY-FOCUSED BOARD- THE ORGANIZATION IS GOVERNED BY A DIVERSE BOARD OF DIRECTORS THAT INCLUDES INDIVIDUALS WITH VARIED BACKGROUNDS, EXPERTISE, AND COMMUNITY TIES. THIS DIVERSITY ENSURES BROAD REPRESENTATION AND REFLECTS THE ORGANIZATION'S COMMITMENT TO SERVING THE NEEDS OF THE COMMUNITY AS A WHOLE. THE BOARD PLAYS AN ACTIVE ROLE IN DECISION-MAKING, ENSURING TRANSPARENCY, ACCOUNTABILITY, AND ALIGNMENT WITH THE ORGANIZATION'S MISSION.2. PLANNED FUNDRAISING INITIATIVES- THE ORGANIZATION HAS DEVELOPED A ROBUST PLAN TO ACTIVELY PURSUE FUNDRAISING EFFORTS IN THE UPCOMING YEAR. THESE INITIATIVES INCLUDE ENGAGING WITH INDIVIDUAL DONORS, SEEKING GRANTS FROM GOVERNMENT AND PRIVATE FOUNDATIONS, AND CULTIVATING CORPORATE SPONSORSHIPS. THE ORGANIZATION IS DEDICATED TO EXPANDING ITS FINANCIAL SUPPORT TO ENSURE LONG-TERM SUSTAINABILITY AND THE CONTINUED FULFILLMENT OF ITS MISSION.3. COMMUNITY ENGAGEMENT AND EDUCATIONAL IMPACT- THE ORGANIZATION IS DEEPLY INVOLVED IN THE LOCAL COMMUNITY, PARTICULARLY IN THE NANTUCKET EDUCATION SYSTEM. IT COLLABORATES WITH SCHOOLS, EDUCATORS, AND FAMILIES TO ADDRESS CRITICAL NEEDS AND ENHANCE EDUCATIONAL OPPORTUNITIES FOR STUDENTS. THROUGH THESE PARTNERSHIPS, THE ORGANIZATION STRENGTHENS ITS CONNECTION TO THE COMMUNITY AND ENSURES THAT ITS PROGRAMS HAVE A MEANINGFUL AND LASTING IMPACT.4. PROVISION OF AFFORDABLE HOUSING - A CORNERSTONE OF THE ORGANIZATION'S MISSION IS PROVIDING AFFORDABLE HOUSING TO INDIVIDUALS AND FAMILIES CONNECTED TO THE NANTUCKET EDUCATION SYSTEM. BY ADDRESSING HOUSING INSECURITY, THE ORGANIZATION SUPPORTS THE WELL-BEING OF EDUCATORS, SCHOOL STAFF, AND STUDENTS, FOSTERING STABILITY AND ENABLING INDIVIDUALS TO THRIVE ACADEMICALLY AND PROFESSIONALLY.THESE FACTORS ILLUSTRATE THE ORGANIZATION'S SUBSTANTIAL ENGAGEMENT WITH THE COMMUNITY AND ITS FOCUS ON ADDRESSING CRITICAL NEEDS THROUGH CHARITABLE ACTIVITIES. COLLECTIVELY, THESE EFFORTS DEMONSTRATE THAT THE ORGANIZATION SERVES A BROAD PUBLIC INTEREST AND OPERATES FOR THE BENEFIT OF THE COMMUNITY AT LARGE, QUALIFYING IT AS A PUBLIC CHARITY. 0 1 X 3381180 1482747 1898433 63374 63374 0 1898433 PART IV, LINE 2B: THE ESCROW ACCOUNT LIABILITY ON PART X LINE 21 CONSISTS OF TENANT SECURITY DEPOSITS WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANT PARTIALLY OR IN FULL UPON TERMINATION OF THE LEASE ON A CONDITIONAL BASIS BASED ON THE RESTORATION NEEDED TO THE UNIT. 1 OUR HOUSE NANTUCKET 5 WHEROWHERO LANE NANTUCKET MA 02554 873745127 501C3 9113 0 CLASSROOM AND EXTRACURRICULAR PROJECTS 1 0 PART I, LINE 2: NET HAS SUPPORTED CLASSROOM AND EXTRACURRICULAR PROJECTS, UNDERWRITTEN MINI-GRANTS TO TEACHERS AND STAFF FOR PROFESSIONAL DEVELOPMENT, BOOSTED NEW SPORTS PROGRAMS, AND HELPED FUND PRESCHOOL EDUCATION. ORGANIZATIONS AND INDIVIDUALS COMPLETE THE GRANT APPLICATION AND ARE CHOSEN BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL STATEMENTS ARE RECEIVED FROM EACH MEMBER OF THE BOARD. THE BOARD SHALL REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING SUCH OTHER ACTIONS AS NECESSARY FOR EFFECTIVE OVERSIGHT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST. FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND TAX RETURNS ARE AVAILABLE TO THE PUBLIC ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. AMENDED RETURN EXPLANATION: THIS RETURN HAS BEEN AMENDED TO REPORT THAT THE ORGANIZATION MEETS THE 10% FACTS-AND-CIRCUMSTANCES TEST ON SCHEDULE A. ON SCHEDULE A, PART II OF THE ORIGINAL FILING, BOX 18 WAS CHECKED ERRONEOUSLY. THE ORGANIZATION HAS A 2024 PUBLIC SUPPORT PERCENTAGE OF 13.84%, THEREFORE THEY MEET THE 10% FACTS-AND-CIRCUMSTANCES TEST FOR 2024. BOX 17A HAS NOW BEEN CORRECTLY CHECKED ON THIS RETURN. ON SCHEDULE A, PART VI, A DESCRIPTION HAS BEEN ADDED TO DESCRIBE HOW THE ORGANIZATION MEETS THE FACTS-AND-CIRCUMSTANCES TEST.