Civic Intelligence

Ebcdc Inc

990 • Fiscal year 2023 • EIN 04-2755270

Jan 01, 2023 to Dec 31, 2023 • Filed on May 03, 2024

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

75th percentile

0.57x

Higher debt load relative to assets than 75% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

5.33x

Higher debt load relative to revenue than 93% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

55th percentile

4.7%

Higher net margin than 55% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

44th percentile

$319,829

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Asset Growth

24th percentile

-0.3%

Faster asset growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

36%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$63,331,704

Down $164,895 (-0.3%) from 2022

Net Assets

Up

$27,122,590

Up $319,334 (+1.2%) from 2022

Liabilities

Down

$36,209,114

Down $484,229 (-1.3%) from 2022

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin55th percentile

Revenue

Up

$6,792,963

Up $1,798,226 (+36%) from 2022

Expenses

Up

$6,473,629

Up $1,511,328 (+30%) from 2022

Net Income

Up

$319,334

Up $286,898 (+885%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth24th 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

2023

Assets$63,331,704
Liabilities$36,209,114
Net Assets$27,122,590
Open 2023 Filing

Operations Trend

Revenue Growth86th 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

2023

Revenue$6,792,963
Expenses$6,473,629
Net Income$319,334
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 3, 2024
Return Version
2023v5.1
Gross Receipts
$7,004,340
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$30,507,258$31,437,661▲ $930,403
Land, Buildings, and Equipment, Net$21,939,129$22,183,895▲ $244,766
Investments Program Related$3,366,987$2,839,842▼ $527,145
Savings and Temporary Cash Investments$1,993,668$1,355,518▼ $638,150
Accounts Receivable$1,275,861$1,204,831▼ $71,030
Cash and Non-Interest-Bearing Accounts$231,643$205,695▼ $25,948
Prepaid Expenses and Deferred Charges$100,992$55,019▼ $45,973
Total Assets$63,496,599$63,331,704▼ $164,895
Other Assets Total$4,081,061$4,049,243▼ $31,818
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,471,482$19,300,784▼ $1,170,698
Unsecured Notes Loans Payable$8,059,605$8,059,605→ $0
Other Liabilities$6,754,680$6,750,380▼ $4,300
Accounts Payable and Accrued Expenses$1,394,131$2,095,947▲ $701,816
Deferred Revenue$13,445$2,398▼ $11,047
Total Liabilities$36,693,343$36,209,114▼ $484,229
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$26,803,256$26,122,590▼ $680,666
Net Assets With Donor Restrictions-$1,000,000-
Total Net Assets Fund Balance$26,803,256$27,122,590▲ $319,334
Total Liabilities and Net Assets / Fund Balance$63,496,599$63,331,704▼ $164,895

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,445,039$4,929,316$17,374,355
Land$7,912,095-$7,912,095
Other Land Buildings$1,641,114-$1,641,114
Equipment$185,647$202,647$388,294
Investment Program Related Org$19,572--
Other Assets Org$1,000,000--
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Albert CaldarelliFormer PresidentPT$301,878$17,951$319,829
Albert Caldarelli--$224,992$94,837$319,829
Salvatore ColomboPresidentPT$297,436$18,340$315,776
Salvatore Colombo--$196,536$119,240$315,776
Albert FestaChief Operating OfficerPT$281,565$16,382$297,947
Albert Festa--$196,536$101,411$297,947
Cynthia FrondutoChief Financial OfficerFT$217,889$26,711$244,600
Cynthia Fronduto--$157,257$87,343$244,600
Tanya HahnelDirector of Real EstateFT$132,741$13,845$146,586

Board Members and Trustees

NameTitle
Kempton FlemmingChair Person
Heriberto MoralesVice Chairman
Annieratha SaingDirector
Anthony PicarelloDirector
Donald CoverdaleDirector
Elizabeth GarufoDirector
Francis BiagiottiDirector
Frida SanchezDirector
Gloria Ruiz-amayaDirector
John MaffeoDirector
John MigliozziDirector
Kathleen OrlandoDirector
Nicole BecklesDirector
Pasquale CordiscoDirector
Thomas BriandDirector
Rita IngersollAsst. Treasurer
Ruth CaponeSecretary/clerk
Blanca AyalaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,020,406
Program Service Revenue
$3,670,814
Investment Income
$2,101,743
Other Revenue
$0
All Other Contributions
$20,406
Change in Net Assets
$319,334

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,792,963
Revenue Not Reported on Form 990
$1,797,199
Total Revenue per Audited Statements
$8,590,162
Total Revenue per Form 990
$6,792,963
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,769,693
Other Expenses$703,936
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,846,676$772,595$0$3,619,271
Current Officers, Directors, Trustees, and Key Employees$818,357$416,721$0$1,235,078
Other Employee Benefits$359,485$117,297$0$476,782
Payroll Taxes$236,085$76,610$0$312,695
Pension Plan Contributions$95,030$30,837$0$125,867
Information Technology$0$124,228$0$124,228
Insurance$31,011$61,837$0$92,848
Occupancy$31,050$31,818$0$62,868
Fees for Services Accounting$0$60,173$0$60,173
All Other Expenses$15,003$30,226$0$45,229
Fees for Services Legal$38,226$0$0$38,226
Conferences and Meetings$4,001$27,259$0$31,260
Office Expenses$531$23,837$0$24,368
Travel$23,235$0$0$23,235
Other Expenses$0$18,944$0$18,944
Advertising$4,893$9,758$0$14,651
Depreciation Depletion$0$8,129$0$8,129
Interest$175$0$0$175
Total Functional Expenses$4,633,269$1,840,360$0$6,473,629

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,270,828
Expenses per Audited Statements$6,473,629
Total Expenses per Form 990$6,473,629
Expenses Not Reported on Form 990$1,797,199
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$79,080
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
Salvatore Colombo
Title
President
Phone
6175695590
Signed
2024-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salvatore Colombo
Formed
1979
Legal Domicile
Ma
Voting Board Members
21
Independent Board Members
19
Employees
71
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 Generals 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.”

Financial Statement Notes

Pt XI, Line 2D

“DIRECT RENTAL EXPENSES”

Pt XII, Line 2D

“DIRECT RENTAL EXPENSES”

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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19FORMER PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt21CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF REAL ESTATE
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,331,704
Liabilities
$36,209,114
Net assets
$27,122,590
Revenue
$6,792,963
Expenses
$6,473,629
Net income
$319,334
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