Civic Intelligence

Ebcdc Inc

990 • Fiscal year 2021 • EIN 04-2755270

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 29, 2022

Organization Profilewww.ebcdc.com

View Organization Page

72 Marginal StreetEast Boston, MA 02128

(617) 569-5590

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.56x

Higher debt load relative to assets than 76% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

7.62x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

6th percentile

-25%

Higher net margin than 6% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

43rd percentile

$297,363

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

19th percentile

0.6%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-26%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$58,217,013

Up $321,274 (+0.6%) from 2020

Net Assets

Down

$25,716,736

Down $1,046,184 (-3.9%) from 2020

Liabilities

Up

$32,500,277

Up $1,367,458 (+4.4%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin6th percentile

Revenue

Down

$4,262,747

Down $1,469,157 (-26%) from 2020

Expenses

Up

$5,308,240

Up $1,109,257 (+26%) from 2020

Net Income

Down

-$1,045,493

Down $2,578,414 (-168%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $18,233,419Liabilities 2010: $9,733,723Net Assets 2010: $8,499,6962010Assets 2011: $19,486,923Liabilities 2011: $11,018,999Net Assets 2011: $8,467,9242011Assets 2012: $20,181,816Liabilities 2012: $11,606,481Net Assets 2012: $8,575,3352012Assets 2013: $21,015,126Liabilities 2013: $12,223,580Net Assets 2013: $8,791,5462013Assets 2014: $25,719,054Liabilities 2014: $15,211,787Net Assets 2014: $10,507,2672014Assets 2015: $28,409,036Liabilities 2015: $17,263,189Net Assets 2015: $11,145,8472015Assets 2016: $30,427,294Liabilities 2016: $18,185,961Net Assets 2016: $12,241,3332016Assets 2017: $30,238,564Liabilities 2017: $17,865,136Net Assets 2017: $12,373,4282017Assets 2018: $42,065,835Liabilities 2018: $21,775,530Net Assets 2018: $20,290,3052018Assets 2019: $48,787,209Liabilities 2019: $24,860,225Net Assets 2019: $23,926,9842019Assets 2020: $57,895,739Liabilities 2020: $31,132,819Net Assets 2020: $26,762,9202020Assets 2021: $58,217,013Liabilities 2021: $32,500,277Net Assets 2021: $25,716,7362021Assets 2022: $63,496,599Liabilities 2022: $36,693,343Net Assets 2022: $26,803,2562022Assets 2023: $63,331,704Liabilities 2023: $36,209,114Net Assets 2023: $27,122,5902023Assets 2024: $70,180,587Liabilities 2024: $35,995,442Net Assets 2024: $34,185,1452024

Highlighted filing

2021

Assets$58,217,013
Liabilities$32,500,277
Net Assets$25,716,736
Open 2021 Filing

Operations Trend

Revenue Growth9th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $2,138,4742010Expenses 2011: $2,379,7492011Expenses 2012: $2,450,9922012Revenue 2013: $2,761,202Expenses 2013: $2,544,991Net Income 2013: $216,2112013Revenue 2014: $4,375,720Expenses 2014: $2,659,999Net Income 2014: $1,715,7212014Revenue 2015: $4,870,852Expenses 2015: $2,756,423Net Income 2015: $2,114,4292015Revenue 2016: $4,333,650Expenses 2016: $3,248,408Net Income 2016: $1,085,2422016Revenue 2017: $4,376,505Expenses 2017: $4,244,410Net Income 2017: $132,0952017Revenue 2018: $1,367,638Expenses 2018: $1,448,574Net Income 2018: -$80,9362018Revenue 2019: $7,026,343Expenses 2019: $3,927,486Net Income 2019: $3,098,8572019Revenue 2020: $5,731,904Expenses 2020: $4,198,983Net Income 2020: $1,532,9212020Revenue 2021: $4,262,747Expenses 2021: $5,308,240Net Income 2021: -$1,045,4932021Revenue 2022: $4,994,737Expenses 2022: $4,962,301Net Income 2022: $32,4362022Revenue 2023: $6,792,963Expenses 2023: $6,473,629Net Income 2023: $319,3342023Revenue 2024: $9,072,239Expenses 2024: $6,548,328Net Income 2024: $2,523,9112024

Highlighted filing

2021

Revenue$4,262,747
Expenses$5,308,240
Net Income-$1,045,493
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 29, 2022
Return Version
2021v4.1
Gross Receipts
$5,903,815
Mission and Program Overview

Mission

To assist the creation of

To assist the creation of affordable housing and economic development that benefits the residents of East Boston.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$30,038,029$30,109,480▲ $71,451
Land, Buildings, and Equipment, Net$16,116,853$18,748,305▲ $2,631,452
Savings and Temporary Cash Investments$5,698,173$5,171,368▼ $526,805
Investments Program Related$1,448,814$531,717▼ $917,097
Cash and Non-Interest-Bearing Accounts$1,077,200$351,377▼ $725,823
Accounts Receivable$310,342$123,336▼ $187,006
Prepaid Expenses and Deferred Charges$61,631$68,551▲ $6,920
Total Assets$57,895,739$58,217,013▲ $321,274
Other Assets Total$3,144,697$3,112,879▼ $31,818
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,397,073$16,418,286▲ $21,213
Unsecured Notes Loans Payable$7,376,241$8,054,341▲ $678,100
Other Liabilities$6,748,523$6,755,493▲ $6,970
Accounts Payable and Accrued Expenses$598,774$1,215,231▲ $616,457
Deferred Revenue$12,208$56,926▲ $44,718
Total Liabilities$31,132,819$32,500,277▲ $1,367,458
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$26,762,920$25,716,736▼ $1,046,184
Total Net Assets Fund Balance$26,762,920$25,716,736▼ $1,046,184
Total Liabilities and Net Assets / Fund Balance$57,895,739$58,217,013▲ $321,274

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,015,496$3,887,429$16,902,925
Land$4,892,586-$4,892,586
Other Land Buildings$690,399-$690,399
Equipment$149,824$144,867$294,691
Investment Program Related Org$163--
Other Assets Org$3,112,879--
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Albert Caldarelli--$220,747$76,617$297,364
Albert CaldarelliPresidentFT$279,247$18,116$297,363
Salvatore ColomboGen. Mgr.FT$260,136$17,902$278,038
Salvatore Colombo--$196,536$81,502$278,038
Albert FestaFin. DirectorFT$255,036$16,392$271,428
Albert Festa--$196,536$74,891$271,427
Cynthia FrondutoDirector of AccountingFT$172,834$29,772$202,606
Cynthia Fronduto--$145,334$57,271$202,605

Board Members and Trustees

NameTitle
Pasquale CordiscoChair Person
Kempton FlemmingVice Chair
Annieratha SaingDirector
Donald CoverdaleDirector
Francis BiagiottiDirector
Frida SanchezDirector
Gabriella ColettaDirector
Gloria Ruiz-amayaDirector
Heriberto MoralesDirector
John MaffeoDirector
Kathleen OrlandoDirector
Mark KratmanDirector
Matteo CasciatoDirector
Nicole BecklesDirector
Rita IngersollDirector
Thomas BriandDirector
Blanca AyalaAsst. Treasurer
Ruth CaponeSecretary/clerk
Elizabeth GarufoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$560,900
Program Service Revenue
$0
Investment Income
$507,695
Other Revenue
$3,194,152
All Other Contributions
$5,000
Change in Net Assets
$-1,045,493
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,729,447
Other Expenses$578,793
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,421,993$689,907$0$3,111,900
Current Officers, Directors, Trustees, and Key Employees$527,278$267,141$0$794,419
Other Employee Benefits$355,605$116,038$0$471,643
Payroll Taxes$192,010$62,308$0$254,318
Pension Plan Contributions$73,361$23,806$0$97,167
Information Technology$51,350$42,973$0$94,323
All Other Expenses$26,874$45,704$0$72,578
Conferences and Meetings$3,133$68,726$0$71,859
Insurance$22,759$45,382$0$68,141
Occupancy$20,956$41,912$0$62,868
Fees for Services Accounting$0$49,364$0$49,364
Fees for Services Legal$19,918$0$0$19,918
Travel$18,870$0$0$18,870
Other Expenses$0$16,679$0$16,679
Office Expenses$5,220$8,752$0$13,972
Depreciation Depletion$101$9,504$0$9,605
Advertising$1,666$3,332$0$4,998
Interest$114$0$0$114
Total Functional Expenses$3,804,558$1,503,682$0$5,308,240
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable to Related Parties$6,671,300
Security Deposits$84,193
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Ebcdc Inc
EIN
04-2755270
Phone
6175695590
Address
72 MARGINAL STREET, EAST BOSTON, MA 02128

Signing Officer

Name
Albert Caldarelli
Title
President
Phone
6175695590
Signed
2022-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Albert Caldarelli
Formed
1979
Legal Domicile
Ma
Voting Board Members
21
Independent Board Members
19
Employees
66
Volunteers
0

Preparer

Firm
Bernard Johnson & Company Pc
Address
15 MAIN STREET, TOPSFIELD, MA 01983
Preparer
Julie A Couto CPA
Phone
9788872220
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

“Members are residents of East Boston Massachusetts who register as members with the Organization.”

Pt VI, Line 7A

“Members elect the Board of Directors of the Organization.”

Pt VI, Line 11B

“The Form 990 is reviewed by the Executive Director, Financial Director and available for review by the Board of Directors prior to filing.”

Pt VI, Line 19

“The financial statements are available for review on the Massachusetts Attorney General's Charitable Division website. Governing policies and financial statements are available upon request.”

Pt XI

“Other changes in net assets represents limited partner distributions as a result of the sale of real estate to a related party.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHAIR PERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20FIN. DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21GEN. MGR.
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF ACCOUNTING
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IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt20

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$58,217,013
Liabilities
$32,500,277
Net assets
$25,716,736
Revenue
$4,262,747
Expenses
$5,308,240
Net income
-$1,045,493
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.2$36.0$34.2$9.07$6.55$2.52
2023Detailed filing. Detailed filing data is available for this year.$63.3$36.2$27.1$6.79$6.47$0.32
2022Detailed filing. Detailed filing data is available for this year.$63.5$36.7$26.8$4.99$4.96$0.03
2021Detailed filing. Detailed filing data is available for this year.$58.2$32.5$25.7$4.26$5.31$1.05
2020Detailed filing. Detailed filing data is available for this year.$57.9$31.1$26.8$5.73$4.20$1.53
2019Detailed filing. Detailed filing data is available for this year.$48.8$24.9$23.9$7.03$3.93$3.10
2018Summary only. Only limited summary data is available for this year.$42.1$21.8$20.3$1.37$1.45$0.08
2017Detailed filing. Detailed filing data is available for this year.$30.2$17.9$12.4$4.38$4.24$0.13
2016Detailed filing. Detailed filing data is available for this year.$30.4$18.2$12.2$4.33$3.25$1.09
2015Detailed filing. Detailed filing data is available for this year.$28.4$17.3$11.1$4.87$2.76$2.11
2014Detailed filing. Detailed filing data is available for this year.$25.7$15.2$10.5$4.38$2.66$1.72
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.0$12.2$8.79$2.76$2.54$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.2$11.6$8.58$2.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.5$11.0$8.47$2.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.2$9.73$8.50$2.14