Civic Intelligence

Ebcdc Inc

990 • Fiscal year 2022 • EIN 04-2755270

Jan 01, 2022 to Dec 31, 2022 • Filed on May 03, 2023

Organization Profilewww.ebcdc.com

View Organization Page

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80 Border Street 3rd FloorEast Boston, MA 02128

(617) 569-5590

Siviq Scores

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

Liabilities / Assets

77th percentile

0.58x

Higher debt load relative to assets than 77% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

95th percentile

7.35x

Higher debt load relative to revenue than 95% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

32nd percentile

0.6%

Higher net margin than 32% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

40th percentile

$297,852

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

73rd percentile

9.1%

Faster asset growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

71st percentile

17%

Faster revenue growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$63,496,599

Up $5,279,586 (+9.1%) from 2021

Net Assets

Up

$26,803,256

Up $1,086,520 (+4.2%) from 2021

Liabilities

Up

$36,693,343

Up $4,193,066 (+13%) from 2021

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin32nd percentile

Revenue

Up

$4,994,737

Up $731,990 (+17%) from 2021

Expenses

Down

$4,962,301

Down $345,939 (-6.5%) from 2021

Net Income

Up

$32,436

Up $1,077,929 (+103%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth73rd 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

2022

Assets$63,496,599
Liabilities$36,693,343
Net Assets$26,803,256
Open 2022 Filing

Operations Trend

Revenue Growth71st 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

2022

Revenue$4,994,737
Expenses$4,962,301
Net Income$32,436
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 3, 2023
Return Version
2022v5.0
Gross Receipts
$5,468,532
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$30,109,480$30,507,258▲ $397,778
Land, Buildings, and Equipment, Net$18,748,305$21,939,129▲ $3,190,824
Investments Program Related$531,717$3,366,987▲ $2,835,270
Savings and Temporary Cash Investments$5,171,368$1,993,668▼ $3,177,700
Accounts Receivable$123,336$1,275,861▲ $1,152,525
Cash and Non-Interest-Bearing Accounts$351,377$231,643▼ $119,734
Prepaid Expenses and Deferred Charges$68,551$100,992▲ $32,441
Total Assets$58,217,013$63,496,599▲ $5,279,586
Other Assets Total$3,112,879$4,081,061▲ $968,182
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,418,286$20,471,482▲ $4,053,196
Unsecured Notes Loans Payable$8,054,341$8,059,605▲ $5,264
Other Liabilities$6,755,493$6,754,680▼ $813
Accounts Payable and Accrued Expenses$1,215,231$1,394,131▲ $178,900
Deferred Revenue$56,926$13,445▼ $43,481
Total Liabilities$32,500,277$36,693,343▲ $4,193,066
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,716,736$26,803,256▲ $1,086,520
Total Net Assets Fund Balance$25,716,736$26,803,256▲ $1,086,520
Total Liabilities and Net Assets / Fund Balance$58,217,013$63,496,599▲ $5,279,586

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,752,620$4,499,293$17,251,913
Land$7,921,245-$7,921,245
Other Land Buildings$1,104,193-$1,104,193
Equipment$161,071$173,457$334,528
Investment Program Related Org$-2,854--
Other Assets Org$1,000,000--
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Albert CaldarelliPresidentFT$280,747$17,105$297,852
Albert Caldarelli--$220,747$77,105$297,852
Salvatore ColomboGen. Mgr.FT$260,136$16,848$276,984
Salvatore Colombo--$196,536$80,448$276,984
Albert FestaFin. DirectorFT$256,536$15,381$271,917
Albert Festa--$196,536$75,381$271,917
Cynthia FrondutoDirector of AccountingFT$194,757$26,875$221,632
Cynthia Fronduto--$157,257$64,375$221,632
Tanya HahnelProject ManagerFT$111,731$14,864$126,595

Board Members and Trustees

NameTitle
Pasquale CordiscoChair Person
Kempton FlemmingVice Chair
Annieratha SaingDirector
Anthony PicarelloDirector
Donald CoverdaleDirector
Elizabeth GarufoDirector
Francis BiagiottiDirector
Gloria Ruiz-amayaDirector
John MaffeoDirector
John MigliozziDirector
Kathleen OrlandoDirector
Mark KratmanDirector
Nicole BecklesDirector
Rita IngersollDirector
Ruth CaponeDirector
Thomas BriandDirector
Blanca AyalaAsst. Treasurer
Frida SanchezSecretary/clerk
Heriberto MoralesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$900,000
Program Service Revenue
$4,071,978
Investment Income
$22,759
Other Revenue
$0
All Other Contributions
$900,000
Change in Net Assets
$32,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,338,621
Other Expenses$623,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,119,150$590,621$0$2,709,771
Current Officers, Directors, Trustees, and Key Employees$528,778$268,641$0$797,419
Other Employee Benefits$321,381$104,933$0$426,314
Payroll Taxes$204,733$66,436$0$271,169
Pension Plan Contributions$101,131$32,817$0$133,948
Information Technology$90,676$37,020$0$127,696
Insurance$29,636$59,094$0$88,730
All Other Expenses$19,388$52,322$0$71,710
Occupancy$20,956$41,912$0$62,868
Fees for Services Accounting$0$53,800$0$53,800
Fees for Services Legal$29,482$0$0$29,482
Conferences and Meetings$3,624$21,396$0$25,020
Travel$20,910$0$0$20,910
Depreciation Depletion$0$10,928$0$10,928
Office Expenses$1,581$8,939$0$10,520
Advertising$3,214$6,409$0$9,623
Other Expenses$0$7,716$0$7,716
Interest$201$0$0$201
Total Functional Expenses$3,575,588$1,386,713$0$4,962,301
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$83,380
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
80 BORDER STREET 3RD FLOOR, EAST BOSTON, MA 02128

Signing Officer

Name
Albert Caldarelli
Title
President
Phone
6175695590
Signed
2023-05-03
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
73
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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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASST. TREASURER
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
IRS990/Form990PartVIISectionAGrp/TitleTxt23PROJECT MANAGER
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0To assist the creation of affordable housing and economic development that benefits the residents of East Boston.
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,496,599
Liabilities
$36,693,343
Net assets
$26,803,256
Revenue
$4,994,737
Expenses
$4,962,301
Net income
$32,436
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