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Nonprofiteer
← LYNN Y SUPPORT INC

Form 990 for tax year 2023

Filed by LYNN Y SUPPORT INC.

Totals

Total revenue
$975,434
Total expenses
$988,329
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$454
Other revenue
$974,980
Total assets, end of year
$26,796,232
Total liabilities, end of year
$26,154,675
Net assets or fund balances, end of year
$641,557
Program services expenses (Part IX)
$988,329
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$988,329

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $454 · excluded $454

  • 6a · Gross rents

    real property $974,980

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $974,980

  • 6d · Net rental income or loss

    total $974,980 · excluded $974,980

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $25,000 · program services $25,000

  • 20 · Interest

    total $248,775 · program services $248,775

  • 22 · Depreciation, depletion and amortization

    total $714,054 · program services $714,054

  • 24a · Other expenses: FILING FEE

    total $500 · program services $500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $63,216 · end of year $63,170

  • 10a · Land, buildings and equipment: cost or other basis

    $28,637,210

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,904,148

  • 10c · Land, buildings and equipment, net

    beginning of year $27,447,116 · end of year $26,733,062

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,000 · end of year $30,000

  • 23 · Secured mortgages and notes payable

    beginning of year $20,746,606 · end of year $20,759,455

  • 25 · Other liabilities

    beginning of year $6,079,274 · end of year $5,365,220

  • 27 · Net assets without donor restrictions

    beginning of year $654,452 · end of year $641,557

Mission and programs · 2023

Mission

TO REHABILITATE, CONSTRUCT AND EXPAND THE YMCA LOCATED IN LYNN, MA. ALSO, 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.

Activities or mission (Part I)

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.

  • 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.

    Expenses $988,329

As filed on the 2023 return.

Listed in Part VII

  • BRUCE MACDONALD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAN CLASBY

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • LISABETH LAFONTAINE

    CLERK

    Total calculated
    $3,686
    From this org
    $0
    From related orgs
    $3,686
    Other
    $0
    Hours/week
    2 + 5 related

  • STEVE HENDRICKSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARY SARRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KATHLEEN WALSH

    PRESIDENT

    Total calculated
    $309,758
    From this org
    $0
    From related orgs
    $275,400
    Other
    $34,358
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $275,400 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,660 related
    Nontaxable benefits
    $0 + $698 related
    Filer's total
    $0 + $309,758 related

  • LISA FERRARO

    DIRECTOR

    Total calculated
    $202,790
    From this org
    $0
    From related orgs
    $167,340
    Other
    $35,450
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $167,340 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,678 related
    Nontaxable benefits
    $0 + $13,772 related
    Filer's total
    $0 + $202,790 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202411319349303811

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