LEOMINSTER DEVELOPMENT CORPORATION

EIN: 043299189 501(c)(3) Unknown

Leominster, MA

Total Revenue
$288,563
Total Expenses
$336,041
Total Assets
$2,907,595
Net Assets
$231,803
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
MA
Principal Officer
Benjamin Gold
Phone
9785375300
Tax Period
2023-01-01 to 2023-12-31

LEOMINSTER DEVELOPMENT CORPORATION, founded in 1995, is a small nonprofit in the Unknown sector that reported $289K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $336K exceeded revenue, resulting in a 16% operating deficit.

Mission

Provide affordable housing

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $282,844
Investment Income $5,719
Other Revenue $0
TOTAL REVENUE $288,563

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $336,041
Other Expenses $336,041
TOTAL EXPENSES $336,041

Year-over-Year Comparison

2023 2022 Change
Revenue $288,563 $263,938 +0.1%
Expenses $336,041 $315,834 +0.1%
Net Income $-47,478 $-51,896 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Croteau Board Member 1
Director
$0 $0 $0
Neddy Latimer Board Member 1
Director
$0 $0 $0
Virginia Tocci Board Member 1
Director
$0 $0 $0
Benjamin Gold President 2
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $288,563 $336,041 $2,907,595 $-47,478
2022 $263,938 $315,834 $2,973,109 $-51,896
2021 $273,342 $251,320 $3,040,560 $22,022
2020 $283,473 $280,451 $3,049,782 $3,022
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