Lowell Telecommunications Corporation
- Assets
- $1.5m
- Revenue
- $690.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Lowell, MA
- Founding
- 11/1993
- Data as of
- 06/2024
- EIN
- 04-3179126
Organization Overview
Lowell Telecommunications Corporation is located in Lowell, MA. The organization was established in 1993. According to its NTEE Classification (A32) the organization is classified as: Television, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Lowell Telecommunications Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lowell Telecommunications Corporation 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 06/2024, Lowell Telecommunications Corporation generated $690.3k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $797.1k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
LOWELL TELECOMMUNICATION CORPORATION'S MISSION IS TO STRENGTHEN THE CITY OF LOWELL AS A COMMUNITY MEDIA AND EDUCATION CENTER THAT EMPOWERS, CONNECTS, AND INFORMS ALL RESIDENTS, BUSINESSES, AND ORGANIZATIONS IN THE CITY. LTC PROVIDES EQUIPMENT, FACILITIES AND TRAINING TO LOWELL RESIDENTS TO PRODUCE PROGRAMMING FOR LTC'S THREE CHANNELS. LTC ALSO PROVIDES GALLERY SPACE FOR LOCAL ARTISTS, YOUTH MEDIA PROGRAMS, AND PRODUCTION SERVICES FOR BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES PROGRAMMING ON THE PUBLIC ACCESS, INCLUDING LIVE COVERAGE OF CITY COUNCIL AND SCHOOL COMMITTEE MEETINGS, COMMUNITY PRODUCED PROGRAMMING, AND A COMPUTER GENERATED BULLETIN BOARD OF COMMUNITY ANNOUNCEMENTS.
LOWELL TELECOMMUNICATION CORPORATION'S GOVERNMENT ACCESS CHANNEL FEATURES PROGRAMS FOCUSING ON MUNICIPAL AGENCIES AND THEIR ACTIVITIES TO KEEP CITIZENS INFORMED ABOUT CITY HALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Mccune Executive Di | OfficerTrustee | 40 | $28,082 |
Eric Sack President | OfficerTrustee | 10 | $0 |
Sidney Liang Vice Preside | OfficerTrustee | 5 | $0 |
Karen Sennott Treasurer/cl | OfficerTrustee | 5 | $0 |
Connie Martin Director | Trustee | 1 | $0 |
Francois DE Costerd Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,984 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $507,220 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $514,204 |
| Total Program Service Revenue | $174,392 |
| Investment income | $1,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$186 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $690,254 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $95,323 |
| Compensation of current officers, directors, key employees. | $48,090 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $330,685 |
| Pension plan accruals and contributions | $2,393 |
| Other employee benefits | $44,005 |
| Payroll taxes | $37,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,056 |
| Fees for services: Accounting | $16,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,078 |
| Advertising and promotion | $1,991 |
| Office expenses | $8,282 |
| Information technology | $11,880 |
| Royalties | $0 |
| Occupancy | $161,740 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $371 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,354 |
| Insurance | $1,325 |
| All other expenses | $4,828 |
| Total functional expenses | $797,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,505 |
| Savings and temporary cash investments | $541,233 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $238,860 |
| 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 | $7,225 |
| Net Land, buildings, and equipment | $53,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $569,486 |
| Total assets | $1,480,261 |
| Accounts payable and accrued expenses | $33,461 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,461 |
| Net assets without donor restrictions | $1,446,227 |
| Net assets with donor restrictions | $573 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,480,261 |