Independent University Alumni Association At Lowell Inc
- Assets
- $0.0
- Revenue
- $452.0k
- Investments
- $11.2m
- Employees
- 1
- Location
- Lowell, MA
- Founding
- 06/1952
- Data as of
- 06/2021
- EIN
- 04-2052723
Organization Overview
Independent University Alumni Association At Lowell Inc is located in Lowell, MA. The organization was established in 1952. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent University Alumni Association At Lowell Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Independent University Alumni Association At Lowell Inc generated $452.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $319.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND GRANTS PROVIDED TO UNIVERSITY OF MASSACHUSETTS LOWELL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Shanahan Executive Di | 20 | $44,690 | |
Richard Donaldson Director | 1 | $0 | |
Hae-Young Christina Yoo Director | 1 | $0 | |
Thomas O'donnell Director | 1 | $0 | |
Patricia Rivard-Gardner Treasurer | 1 | $0 | |
Mary Ann Kitrosser Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $39,600 |
| Interest on Savings | $19 |
| Dividends & Interest | $289,844 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,380 |
| Total Revenue | $452,021 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $44,690 |
| Pension plans, employee benefits | $3,620 |
| Depreciation | $57 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $319,294 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $319,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,853 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Independent University Alumni Association At Lowell Inc has awarded $202,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGE STUDENTS PURPOSE: COLLEGE TUITION ASSISTANCE | $197,500 |
UMASS-LOWELL DEPARTMENTS PURPOSE: RESEARCH PURPOSES | $5,000 |
Endowment Analysis
| Beg. Balance | $8,250,604 |
| Earnings | -$211,545 |
| Net Contributions | $1,235 |
| Other Expense | -$77,495 |
| Grants | -$152,615 |
| Ending Balance | $7,810,184 |
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