Wellesley Abc Program Inc
- Assets
- $1.6m
- Revenue
- $168.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Wellesley, MA
- Founding
- 10/1972
- Data as of
- 06/2022
- EIN
- 04-2503812
Organization Overview
Wellesley Abc Program Inc is located in Wellesley, MA. The organization was established in 1972. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Wellesley Abc Program Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellesley Abc Program 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 06/2022, Wellesley Abc Program Inc generated $168.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $169.7k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WELLESLEY ABC PROGRAM, INC. WAS FORMED IN 1972 WITH ITS CORE MISSION TO PROVIDE ACADEMICALLY TALENTED STUDENTS FROM UNDERSERVED COMMUNITIES WITH HOUSING, ACADEMIC SUPPORT, AND ACCESS TO A RIGOROUS COLLEGE PREPARATORY PROGRAM AT WELLESLEY HIGH SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ACADEMICALLY TALENTED AND PROMISING WOMEN FROM UNDERSERVED COMMUNITIES A BETTER CHANCE THROUGH ENROLLMENT AT WELLESLEY HIGH SCHOOL AND PARTICIPATION IN A RESIDENTIAL PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ady Balog Co-President | OfficerTrustee | 40 | $0 |
Catherine Ward Co-President | OfficerTrustee | 40 | $0 |
Wendy Bedrosian Vice Preside | OfficerTrustee | 20 | $0 |
Stephanie Allred Vice Preside | OfficerTrustee | 3 | $0 |
Beth Falk Vice Preside | OfficerTrustee | 12 | $0 |
Shelley Mchale Treasurer | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $168,187 |
| Investment income | $88 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $168,275 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,703 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $834 |
| Payroll taxes | $2,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,699 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,690 |
| Information technology | $4,662 |
| Royalties | $0 |
| Occupancy | $30,822 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,537 |
| Insurance | $822 |
| All other expenses | $0 |
| Total functional expenses | $169,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,090 |
| Savings and temporary cash investments | $265,815 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,668 |
| Investments—publicly traded securities | $18,461 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,588,152 |
| Accounts payable and accrued expenses | $9,695 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $265,322 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $275,017 |
| Net assets without donor restrictions | $1,294,866 |
| Net assets with donor restrictions | $18,269 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,313,135 |