TY 2022 Form 990 Schedule O

efile Public Visual Render ObjectId: 202333189349302298 - Submission: 2023-11-14 TIN: 04-2603693

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2022

Open to Public
Inspection

Name of the organization

LOWELL DEVELOPMENT & FINANCIAL CORP

Employer identification number

04-2603693

Return Reference	Explanation
FORM 990, PART VI	KAREN FREDRICK IS THE CHIEF EXECUTIVE OFFICER OF COMMUNITY TEAMWORK, INC (CTI). FRANKY DESCOTEAUX IS THE DIRECTOR OF ENTREPRENEURSHIP CENTER AT CTI. STEVE JONCAS, AND WILLIAM LIPCHITZ ARE ALL EMPLOYEES OF COMMON GROUND DEVELOPMENT CORP (CGDC), WHICH ANTHONY NGANGA IS A BOARD MEMBER OF CGDC AND JAMES WILDE THE VICE-PRESIDENT OF CGDC'S BOARD. JAMES HOGAN IS ON THE BOARD OF DIRECTORS OF CGDC AND CTI. ALL MEMBERS NOTED ABOVE ARE MEMBERS OF THE LOWELL DEVELOPMENT AND FINANCIAL CORPORATION'S BOARD OF DIRECTORS.
FORM 990, PAGE 6, PART VI, LINE 2	COMMON GROUND DEVELP CORP. COMMUNITY TEAMWORK INC DIR REAL EST CEO REPORT DIRECTLY TO KF COMMON GROUND DEVELP CORP. WASHINGTIN SAVING BANK DIR REAL EST PRES & CEO JH ON BOARD OF CTI & COMMON GR COMMON GROUND DEVELP CORP COMMON GROUND DEVELP CORP DIR REAL EST REAL ESTATE WORKS WITH COMMON GROUND DEVELP CORP COMMON GROUND DEVELP CORP DIR REAL EST VICE- PRES WORKS WITH & JW ON BOARD CGDC COMMON GROUND DEVELP CORP CITY OF LOWELL DIR REAL EST CITY MGNR CITY OF LOWELL ISSUE GRANTS COMMON GROUND DEVELP CORP CITY OF LOWELL DIR REAL EST ASSIST MGNR CITY OF LOWELL ISSUE GRANTS COMMON GROUND DEVELP CORP STUDIO 26 ASSOCIATES DIR REAL EST FOUNDER SERVES ON BOARD OF CGDC
FORM 990, PAGE 6, PART VI, LINE 11B	THE 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE PRIOR TO FILING.
FORM 990, PAGE 6, PART VI, LINE 12C	LDFC USES CONFLICT OF INTEREST QUIESTIONAIRES TO MONITOR CONFLICTS ON AN ANNUAL BASIS.
FORM 990, PAGE 6, PART VI, LINE 15A	THE PERSONNEL COMMITTEE, WHICH IS MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS, IS RESPONSIBLE FOR DETERMINING EXECUTIVE COMPENSATION LEVELS.
FORM 990, PAGE 6, PART VI, LINE 15B	THE PERSONNEL COMMITTEE, WHICH IS MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS, IS RESPONSIBLE FOR DETERMINING EXECUTIVE COMPENSATION LEVELS.
FORM 990, PAGE 6, PART VI, LINE 18	AVAILABLE UPON REQUEST AT THE LOWELL DEVELOPMENT AND FINANCIAL CORPORATION'S OFFICE.
FORM 990, PAGE 6, PART VI, LINE 19	THE LOWELL DEVELOPMENT AND FINANCIAL CORPORATION'S AUDITED STATEMENT OF FINANCIAL POSITION IS PUBLISHED ANNUALLY IN THE LOWELL SUN NEWSPAPER.
FORM 990, PART XI, LINE 9	CREDIT AND LEASE STANDARD ADOPTION 653,249

Return Reference

Explanation

FORM 990, PART VI

KAREN FREDRICK IS THE CHIEF EXECUTIVE OFFICER OF COMMUNITY TEAMWORK, INC (CTI). FRANKY DESCOTEAUX IS THE DIRECTOR OF ENTREPRENEURSHIP CENTER AT CTI. STEVE JONCAS, AND WILLIAM LIPCHITZ ARE ALL EMPLOYEES OF COMMON GROUND DEVELOPMENT CORP (CGDC), WHICH ANTHONY NGANGA IS A BOARD MEMBER OF CGDC AND JAMES WILDE THE VICE-PRESIDENT OF CGDC'S BOARD. JAMES HOGAN IS ON THE BOARD OF DIRECTORS OF CGDC AND CTI. ALL MEMBERS NOTED ABOVE ARE MEMBERS OF THE LOWELL DEVELOPMENT AND FINANCIAL CORPORATION'S BOARD OF DIRECTORS.

FORM 990, PAGE 6, PART VI, LINE 2

COMMON GROUND DEVELP CORP. COMMUNITY TEAMWORK INC DIR REAL EST CEO REPORT DIRECTLY TO KF COMMON GROUND DEVELP CORP. WASHINGTIN SAVING BANK DIR REAL EST PRES & CEO JH ON BOARD OF CTI & COMMON GR COMMON GROUND DEVELP CORP COMMON GROUND DEVELP CORP DIR REAL EST REAL ESTATE WORKS WITH COMMON GROUND DEVELP CORP COMMON GROUND DEVELP CORP DIR REAL EST VICE- PRES WORKS WITH & JW ON BOARD CGDC COMMON GROUND DEVELP CORP CITY OF LOWELL DIR REAL EST CITY MGNR CITY OF LOWELL ISSUE GRANTS COMMON GROUND DEVELP CORP CITY OF LOWELL DIR REAL EST ASSIST MGNR CITY OF LOWELL ISSUE GRANTS COMMON GROUND DEVELP CORP STUDIO 26 ASSOCIATES DIR REAL EST FOUNDER SERVES ON BOARD OF CGDC

FORM 990, PAGE 6, PART VI, LINE 11B

THE 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE PRIOR TO FILING.

FORM 990, PAGE 6, PART VI, LINE 12C

LDFC USES CONFLICT OF INTEREST QUIESTIONAIRES TO MONITOR CONFLICTS ON AN ANNUAL BASIS.

FORM 990, PAGE 6, PART VI, LINE 15A

THE PERSONNEL COMMITTEE, WHICH IS MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS, IS RESPONSIBLE FOR DETERMINING EXECUTIVE COMPENSATION LEVELS.

FORM 990, PAGE 6, PART VI, LINE 15B

THE PERSONNEL COMMITTEE, WHICH IS MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS, IS RESPONSIBLE FOR DETERMINING EXECUTIVE COMPENSATION LEVELS.

FORM 990, PAGE 6, PART VI, LINE 18

AVAILABLE UPON REQUEST AT THE LOWELL DEVELOPMENT AND FINANCIAL CORPORATION'S OFFICE.

FORM 990, PAGE 6, PART VI, LINE 19

THE LOWELL DEVELOPMENT AND FINANCIAL CORPORATION'S AUDITED STATEMENT OF FINANCIAL POSITION IS PUBLISHED ANNUALLY IN THE LOWELL SUN NEWSPAPER.

FORM 990, PART XI, LINE 9

CREDIT AND LEASE STANDARD ADOPTION 653,249

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2022

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