UTEC Hub Inc

Nonprofit profile at a glance

EIN
473295619
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Lowell, MA, USA
Phone
9784419949
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$40,251
Expenses
$66,834
Assets
$2,196,312
Liabilities
$17,424

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • M Scott Mellen (President/Treasurer)

Highest reported compensation

  • Gregg Croteau (Clerk): $274,234 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To own and develop the buildings at 40 Central Street, 27 Prescott Street, and 22 Hurd Street for the purpose of leasing such properties to UTEC, Inc.

What it reported doing in 2024

To own, develop and lease real property for the purpose of leasing such property to or developing such property for the supported organizations, all in furtherance of charitable purpose within the meaning of section 501(c)(3). The properties are located at 40 Central Street, 27 Prescott Street, and 22 Hurd Street in Lowell, Massachusetts.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 66
  • Accountability: 60
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 20th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -66%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 32.86; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 13.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -8.9% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: -10.4% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -10.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 2 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $67K in reported program spending
  • Leadership: top reported pay $274K · 2 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.