Lynn Y Support Inc
- Assets
- $27.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Lynn, MA
- Founding
- 05/2017
- Data as of
- 12/2022
- EIN
- 82-0966815
Organization Overview
Lynn Y Support Inc is located in Lynn, MA. The organization was established in 2017. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynn Y Support 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 12/2022, Lynn Y Support Inc generated $1.2m in total revenue. All expenses for the organization totaled $1.0m during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LYNN Y SUPPORT, INC. WAS FORMED BY YOUNG MEN'S CHRISTIAN ASSOCIATION OF METRO NORTH, INC. IN 2017 AS PART OF A FINANCING STRUCTURED UNDER THE FEDERAL NEW MARKET TAX CREDIT PROGRAM TO REHABILITATE, CONSTRUCT AND EXPAND THE YMCA LOCATED IN LYNN, MA. THE ORGANIZATION'S MAIN OBJECTIVES ARE TO SUPPORT THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF METRO NORTH, INC. AND DEVELOP, INITIATE, AND OPERATE PROJECTS THAT ARE CONSISTENT WITH COMMUNITY NEEDS IN THE GREATER LYNN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEMAKES FAMILY YMCA PROJECT - THE DEMAKES FAMILY YMCA PROJECT CONSISTS OF DEVELOPING AND CONSTRUCTING A NEW 70,000 SQUARE FOOT BUILDING ADJACENT TO THE EXISTING LYNN YMCA. THE NEW LYNN FACILITY WILL INCLUDE A HEALTH AND WELLNESS CENTER, A FAMILY ADVENTURE AND CHILD WATCH CENTER, A FAMILY AQUATICS CENTER, A GYMNASIUM, AN INDOOR TRACK, A COMMERCIAL KITCHEN, A LICENSED PRE-SCHOOL EARLY LEARNING CENTER, A TECHNOLOGY LAB, LOCKER ROOMS AND SIGNIFICANT COMMUNITY MEETING SPACE. THE DEMAKES FAMILY YMCA WILL HAVE THE PHYSICAL SPACE TO OFFER MORE COMPREHENSIVE PROGRAMS TO ADDRESS CRITICAL EDUCATIONAL, HEALTH, COMMUNITY AND SAFETY ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Macdonald Director | Trustee | 2 | $0 |
Dan Clasby Treasurer | OfficerTrustee | 2 | $0 |
Lisabeth Lafontaine Clerk | OfficerTrustee | 2 | $0 |
Steve Hendrickson Director | Trustee | 2 | $0 |
Mary Sarris Director | Trustee | 2 | $0 |
Kathleen Walsh President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Campanelli Associates Construction Corp Construction | 12/30/20 | $13,533,762 |
Maugel Architects Architectural | 12/30/20 | $181,624 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $974,980 |
| 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 | $1,239,569 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,463 |
| 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 | $248,775 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $714,054 |
| Insurance | $0 |
| All other expenses | $250 |
| Total functional expenses | $1,011,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,216 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $27,447,116 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,510,332 |
| Accounts payable and accrued expenses | $30,000 |
| 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 | $20,746,606 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,079,274 |
| Total liabilities | $26,855,880 |
| Net assets without donor restrictions | $654,452 |
| Net assets with donor restrictions | $0 |
| 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 | $27,510,332 |