Middlesex Canal Association Inc
- Assets
- $2.6m
- Revenue
- $713.0k
- Investments
- $0.0
- Employees
- 0
- Location
- North Billerica, MA
- Founding
- 01/1976
- Data as of
- 04/2023
- EIN
- 51-0176731
Organization Overview
Middlesex Canal Association Inc is located in North Billerica, MA. The organization was established in 1976. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middlesex Canal Association 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 04/2023, Middlesex Canal Association Inc generated $713.0k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $40.4k during the year ending 04/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE MIDDLESEX CANAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CANAL MUSEUM - OPEN WEEKENDS, FREE ADMISSION, APPROXIMATELY 1,000 VISITORS PER YEAR INCLUDING SCHOOL FIELD TRIPS AND GUEST LECTURE ATTENDANCE.
NEWSLETTER/JOURNAL REPORTING CURRENT ACTIVITY AND HISTORICAL REASERCH. THREE ISSUES PER YEAR.
PUBLIC MEETINGS WITH HISTORY LECTURES (3 PER YEAR), PUBLIC WALKING TOURS (2+ PER YEAR) AND BICYCLE TOURS (2 PER YEAR).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Jeremiah Breen President | OfficerTrustee | 40 | $0 |
Traci B Jansen Vice President | OfficerTrustee | 4 | $0 |
Russell B Silva Treasurer | OfficerTrustee | 30 | $0 |
Neil P Devins Membership Secretary | OfficerTrustee | 10 | $0 |
Howard Winkler Director/corresponding Sec | OfficerTrustee | 2 | $0 |
Betty M Bigwood Director | Trustee | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cogley Construction Construction | 4/29/21 | $254,296 |
D&d Masonry Masonry | 4/29/21 | $207,520 |
Shaw Welding Company Inc Construction | 4/29/21 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,990 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $703,819 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $706,809 |
| Total Program Service Revenue | $2,051 |
| Investment income | $4,091 |
| 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 | $712,951 |
| 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. | $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 | $14,000 |
| 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 | $20,400 |
| 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 | $3,442 |
| All other expenses | $85 |
| Total functional expenses | $40,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,210 |
| 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 | $0 |
| Inventories for sale or use | $1,000 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $451,800 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,816,908 |
| Total assets | $2,569,918 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,224,280 |
| Net assets with donor restrictions | $345,638 |
| 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 | $2,569,918 |