Gloucester Revolving Loan Fund Inc
- Assets
- $141.0k
- Revenue
- $3.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Gloucester, MA
- Founding
- Data as of
- 06/2016
- EIN
- 04-3247724
Organization Overview
Gloucester Revolving Loan Fund Inc is located in Gloucester, MA. Gloucester Revolving Loan Fund Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT INVESTMENT IN THE CITY OF GLOUCESTER THROUGH LOW-INTEREST LOANS TO INDUSTRIES RELATED TO THE FISHING INDUSTRY AND SHORE SIDE OPERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT INVESTMENT IN THE CITY OF GLOUCESTER THROUGH LOW- INTEREST LOANS TO INDUSTRIES RELATED TO THE FISHING INDUSTRY AND SHORE SIDE OPERATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Marsh President | Officer | 0.25 | $0 |
Renee Libro Treasurer | Officer | 0.25 | $0 |
David Sidon Vice President | Officer | 1 | $0 |
Leo Bergeron Clerk | Officer | 0.25 | $0 |
Bruce Tarr Director | Trustee | 0.25 | $0 |
Norm Seppala Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $10 |
| 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 | $3,355 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,150 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,344 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $116,634 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $140,978 |
| Accounts payable and accrued expenses | $6,312 |
| 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 | $6,312 |
| Net assets without donor restrictions | -$184,683 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $319,349 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $134,666 |
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