Civic Intelligence

Massdevelopment Hefa Trust

990 • Fiscal year 2024 • EIN 04-3379905

Jul 01, 2023 to Jun 30, 2024 • Filed on May 12, 2025

Organization ProfileWWW.MASSDEVELOPMENT.COM
99 High Street 11th FloorBoston, MA 02110

(617) 330-2000

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2024

Asset Growth

58th percentile

8.0%

Faster asset growth than 58% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

99th percentile

587%

Faster revenue growth than 99% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$10,059,179

Up $742,000 (+8.0%) from 2023

Net Assets

Up

$10,049,267

Up $754,682 (+8.1%) from 2023

Liabilities

Down

$9,912

Down $12,682 (-56%) from 2023

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin64th percentile

Revenue

Up

$510,141

Up $435,892 (+587%) from 2023

Expenses

Up

$446,405

Up $198,950 (+80%) from 2023

Net Income

Up

$63,736

Up $236,942 (+137%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$15M$10M$5.0M$0Assets 2011: $11,965,093Liabilities 2011: $22,059Net Assets 2011: $11,943,0342011Assets 2012: $11,757,811Liabilities 2012: $16,241Net Assets 2012: $11,741,5702012Assets 2013: $11,489,648Liabilities 2013: $3,803Net Assets 2013: $11,485,8452013Assets 2014: $11,280,750Liabilities 2014: $3,877Net Assets 2014: $11,276,8732014Assets 2015: $10,857,836Liabilities 2015: $85,235Net Assets 2015: $10,772,6012015Assets 2016: $10,385,804Liabilities 2016: $4,022Net Assets 2016: $10,381,7822016Assets 2017: $9,861,633Liabilities 2017: $3,949Net Assets 2017: $9,857,6842017Assets 2018: $9,311,297Liabilities 2018: $10,742Net Assets 2018: $9,300,5552018Assets 2019: $9,009,460Liabilities 2019: $7,331Net Assets 2019: $9,002,1292019Assets 2020: $9,196,426Liabilities 2020: $5,811Net Assets 2020: $9,190,6152020Assets 2021: $11,267,953Liabilities 2021: $7,459Net Assets 2021: $11,260,4942021Assets 2022: $8,927,090Liabilities 2022: $57,396Net Assets 2022: $8,869,6942022Assets 2023: $9,317,179Liabilities 2023: $22,594Net Assets 2023: $9,294,5852023Assets 2024: $10,059,179Liabilities 2024: $9,912Net Assets 2024: $10,049,2672024

Highlighted filing

2024

Assets$10,059,179
Liabilities$9,912
Net Assets$10,049,267
Open 2024 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2011: $66,317Expenses 2011: $303,374Net Income 2011: -$237,0572011Revenue 2012: $100,784Expenses 2012: $302,248Net Income 2012: -$201,4642012Revenue 2013: $44,840Expenses 2013: $300,565Net Income 2013: -$255,7252013Revenue 2014: $97,304Expenses 2014: $306,276Net Income 2014: -$208,9722014Revenue 2015: $95,026Expenses 2015: $599,297Net Income 2015: -$504,2712015Revenue 2016: $171,050Expenses 2016: $561,869Net Income 2016: -$390,8192016Revenue 2017: $49,658Expenses 2017: $573,756Net Income 2017: -$524,0982017Revenue 2018: $45,789Expenses 2018: $603,573Net Income 2018: -$557,7842018Revenue 2019: $281,939Expenses 2019: $580,365Net Income 2019: -$298,4262019Revenue 2020: $577,860Expenses 2020: $389,374Net Income 2020: $188,4862020Revenue 2021: $1,042,684Expenses 2021: $377,315Net Income 2021: $665,3692021Revenue 2022: $807,797Expenses 2022: $1,071,438Net Income 2022: -$263,6412022Revenue 2023: $74,249Expenses 2023: $247,455Net Income 2023: -$173,2062023Revenue 2024: $510,141Expenses 2024: $446,405Net Income 2024: $63,7362024

Highlighted filing

2024

Revenue$510,141
Expenses$446,405
Net Income$63,736
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$968,544
Mission and Program Overview

Mission

The trust may provide funds (i) for the benefit of massachusetts development finance agency (massdevelopment), a quasi-public entity, to reduce charges that it otherwise would impose on certain institutions using its services and (ii) for the (see schedule o) benefit of certain charitable organizations and governmental entities that the former massachusetts health and educational facilities authority, prior to its merger by law into massdevelopment, was authorized by statute to assist.

The trust may provide funds for the benefit of massdevelopment finance agency

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,856,730$9,947,343▲ $1,090,613
Cash and Non-Interest-Bearing Accounts$449,464$100,250▼ $349,214
Savings and Temporary Cash Investments$10,985$11,586▲ $601
Total Assets$9,317,179$10,059,179▲ $742,000
Liabilities
Other Liabilities$18,562$5,577▼ $12,985
Accounts Payable and Accrued Expenses$4,032$4,335▲ $303
Total Liabilities$22,594$9,912▼ $12,682
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,294,585$10,049,267▲ $754,682
Total Net Assets Fund Balance$9,294,585$10,049,267▲ $754,682
Total Liabilities and Net Assets / Fund Balance$9,317,179$10,059,179▲ $742,000
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Daniel RiveraPresident/CEO
Sean CalnanDirector/clerk
Brian KavoogianTrustee
Simon GerlinEvp Finance/CFO
Cynthia TonucciInterim Evp Finance Programs
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$509,394
Other Revenue
$747
Change in Net Assets
$63,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$349,214
Other Expenses$97,191
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$349,214--$349,214
Fees for Services Management-$53,578-$53,578
Fees for Service Investment Mgmnt Fees-$38,624-$38,624
Fees for Services Accounting-$4,989-$4,989
Total Functional Expenses$349,214$97,191$0$446,405
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Community Healthlink IncWorcester, MA501(c)(3)Renovation Includes New Floors, Fryer, Electrical Upgrade, Delivery Door, Food Storage Racks, and Other Food Prep Items.$50,000
Duffy Health Center IncHyannis, MA501(c)(3)Installation of a Patient Bathroom Monitoring System (linked to an Alarm System) That Alerts Staff If Bathroom Occupants Are Motionless.$50,000
Greater Lawrence Family Health CtrMethuen, MA501(c)(3)Purchase of a New, 2-exam Room, Mobile Health Unit (mhu).$50,000
Holyoke Health Center IncHolyoke, MA501(c)(3)Funds Are Requested for a Facility Upgrade to the Main Building of the Holyoke Health Center (hhc) Campus.$50,000
Lowell Community Health CtrLowell, MA501(c)(3)Purchase of Furniture for New School-based Health Center Facilities at Lowell High School as Part of the Complete Renovation of the High School Campus Site.$50,000
Brockton Neighborhood Health CtrBrockton, MA501(c)(3)Equipment and Furniture for 17 New Exam Rooms, Including 16 Examination Tables, 1 Exam Table With a Power Base, Doctor Stools, 12 Integrated Wall Diagnostic Systems, and Exam Table Coverings.$49,878
Lynn Community Health CenterLynn, MA501(c)(3)Av Technology Project.$49,336
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
Due Top Massachusetts Development Finance Agency$5,577
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no sub-committees outside of the governing board; therefore, there are no committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the financial controller and/or cfo, and the board of directors, before the cfo's sign off for filing.”

Form 990, Part VI, Section B, Line 12

“The trustees held positions as officers and directors of massachusetts development finance agency and therefore were subject to the massachusetts conflict of interest laws requiring disclosure of any personal, immediate family, or business conflicts.”

Form 990, Part VI, Section B, Line 15

“The compensation and benefits in part vii are determined by massachusetts development finance agency, a related organization.”

Form 990, Part VI, Section C, Line 19

“Certain documents of the trust are available at the offices of the trust and at the office of the massachusetts attorney general for review by members of the public. These documents are available to the public upon request for the same period of disclosure as set forth in section 6104(0). The organization's form 990 is available via guidestar website.”

Filing and Contact Details

Filer

Filer Name
Massdevelopment Hefa Trust
EIN
04-3379905
Phone
6173302000
Address
99 HIGH STREET 11TH FLOOR, BOSTON, MA 02110

Signing Officer

Name
Sean Calnan
Title
Trustee
Phone
6173302000
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sean Calnan
Formed
1997
Legal Domicile
Ma
Voting Board Members
2
Independent Board Members
1
Employees
0
Volunteers
3

Preparer

Firm
Cliftonlarsonallen Llp
Address
4 BATTERYMARCH PARK SUITE 100, QUINCY, MA 02169
Preparer
Danielle Nihill
Phone
7819821001
Raw XML AppendixShowing 400 of 564 raw XML fields

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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MASSDEVELOPMENT/HEFA TRUST SUPPORTS MASSACHUSETTS DEVELOPMENT FINANCE AGENCY WHICH IS A STATE GOVERNMENTAL UNIT AND DOES NOT RECEIVE AN IRS DETERMINATION LETTER.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1DURING THE YEAR, A TOTAL OF 7 GRANTS TOTALING $349,214 WERE AWARDED THROUGH THE COMMUNITY HEALTH CENTER GRANT PROGRAM. THE PROGRAM PROVIDES GRANTS OF UP TO $50,000 TO COMMUNITY HEALTH CENTERS FOR INFRASTRUCTURE PROJECTS, WHICH INCLUDE CONSTRUCTION, RENOVATION, EQUIPMENT , FURNITURE, AND TECHNOLOGY RELATED PROJECTS. THIS ORGANIZATION MAY PROVIDE THESE FUNDS (I) FOR THE BENEFIT OF MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (MASSDEVELOPMENT), A QUASI PUBLIC ENTITY, TO REDUCE CHARGES THAT IT OTHERWISE WOULD IMPOSE ON CERTAIN INSTITUTIONS USING ITS SERVICES AND (II) FOR THE BENEFIT OF CERTAIN CHARITABLE ORGANIZATIONS AND GOVERNMENTAL ENTITIES THAT THE FORMER MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY, PRIOR TO ITS MERGER BY LAW INTO MASSDEVELOPMENT, WAS AUTHORIZED BY STATUTE TO ASSIST.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, LINE 2
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, LINE 6
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0043431814
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MASSDEVELOPMENT FINANCE AGENCY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05577
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TOP MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt05577
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt250000
IRS990ScheduleI/RecipientTable/CashGrantAmt350000
IRS990ScheduleI/RecipientTable/CashGrantAmt450000
IRS990ScheduleI/RecipientTable/CashGrantAmt549878
IRS990ScheduleI/RecipientTable/CashGrantAmt649336
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt60
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0INSTALLATION OF A PATIENT BATHROOM MONITORING SYSTEM (LINKED TO AN ALARM SYSTEM) THAT ALERTS STAFF IF BATHROOM OCCUPANTS ARE MOTIONLESS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1RENOVATION INCLUDES NEW FLOORS, FRYER, ELECTRICAL UPGRADE, DELIVERY DOOR, FOOD STORAGE RACKS, AND OTHER FOOD PREP ITEMS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2FUNDS ARE REQUESTED FOR A FACILITY UPGRADE TO THE MAIN BUILDING OF THE HOLYOKE HEALTH CENTER (HHC) CAMPUS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3PURCHASE OF A NEW, 2-EXAM ROOM, MOBILE HEALTH UNIT (MHU).
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4PURCHASE OF FURNITURE FOR NEW SCHOOL-BASED HEALTH CENTER FACILITIES AT LOWELL HIGH SCHOOL AS PART OF THE COMPLETE RENOVATION OF THE HIGH SCHOOL CAMPUS SITE.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5EQUIPMENT AND FURNITURE FOR 17 NEW EXAM ROOMS, INCLUDING 16 EXAMINATION TABLES, 1 EXAM TABLE WITH A POWER BASE, DOCTOR STOOLS, 12 INTEGRATED WALL DIAGNOSTIC SYSTEMS, AND EXAM TABLE COVERINGS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6AV TECHNOLOGY PROJECT.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DUFFY HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1COMMUNITY HEALTHLINK INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2HOLYOKE HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3GREATER LAWRENCE FAMILY HEALTH CTR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4LOWELL COMMUNITY HEALTH CTR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5BROCKTON NEIGHBORHOOD HEALTH CTR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6LYNN COMMUNITY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientEIN0042525066
IRS990ScheduleI/RecipientTable/RecipientEIN1043373741
IRS990ScheduleI/RecipientTable/RecipientEIN2042626179
IRS990ScheduleI/RecipientTable/RecipientEIN3042492730
IRS990ScheduleI/RecipientTable/RecipientEIN4042708824
IRS990ScheduleI/RecipientTable/RecipientEIN5042881348
IRS990ScheduleI/RecipientTable/RecipientEIN6043165044
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt094 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt168 JAQUES AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2230 MAPLE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31 GRIFFIN BROOK DRIVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4161 JACKSON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt563 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6269 UNION STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0HYANNIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1WORCESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm2HOLYOKE
IRS990ScheduleI/RecipientTable/USAddress/CityNm3METHUEN
IRS990ScheduleI/RecipientTable/USAddress/CityNm4LOWELL
IRS990ScheduleI/RecipientTable/USAddress/CityNm5BROCKTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm6LYNN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002601
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd101610
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd201040
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd301844
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd401852
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd502301
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd601901
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE MASSDEVELOPMENT COMMUNITY DEVELOPMENT DEPARTMENT IS RESPONSIBLE FOR THE MANAGEMENT OF THE GRANT PROCESS; THIS INCLUDES THE RECORD OF THE APPLICATION PROCESS AND OTHER GRANT DATA. THE INFORMATION RELATED TO DISBURSEMENTS, REPAYMENTS (WHERE APPLICABLE), AND GRANT FUND BALANCES IS TRACKED IN THE LOAN AND ACCOUNTING INFORMATION SYSTEMS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt07
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0232837
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1226929
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2227407
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3190618
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt052628
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt139183
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt241718
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt348714
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt012845
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt19592
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt26540
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt310833
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SIMON GERLIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CYNTHIA TONUCCI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2DANIEL RIVERA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3SEAN CALNAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EVP FINANCE/CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1INTERIM EVP FINANCE PROGRAMS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3DIRECTOR/CLERK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0298310
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1275704
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2275665
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3250165
IRS990ScheduleJ/SeverancePaymentInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0RICKS FRAZIER DEPARTED THE BOD AND MDFA, HE WAS PAID OUT FOR HIS VACATION UPON EXIT, IN THE AMOUNT OF $32,133.11.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 4A
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO SUB-COMMITTEES OUTSIDE OF THE GOVERNING BOARD; THEREFORE, THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE FINANCIAL CONTROLLER AND/OR CFO, AND THE BOARD OF DIRECTORS, BEFORE THE CFO'S SIGN OFF FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TRUSTEES HELD POSITIONS AS OFFICERS AND DIRECTORS OF MASSACHUSETTS DEVELOPMENT FINANCE AGENCY AND THEREFORE WERE SUBJECT TO THE MASSACHUSETTS CONFLICT OF INTEREST LAWS REQUIRING DISCLOSURE OF ANY PERSONAL, IMMEDIATE FAMILY, OR BUSINESS CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPENSATION AND BENEFITS IN PART VII ARE DETERMINED BY MASSACHUSETTS DEVELOPMENT FINANCE AGENCY, A RELATED ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CERTAIN DOCUMENTS OF THE TRUST ARE AVAILABLE AT THE OFFICES OF THE TRUST AND AT THE OFFICE OF THE MASSACHUSETTS ATTORNEY GENERAL FOR REVIEW BY MEMBERS OF THE PUBLIC. THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(0). THE ORGANIZATION'S FORM 990 IS AVAILABLE VIA GUIDESTAR WEBSITE.

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,059,179
Liabilities
$9,912
Net assets
$10,049,267
Revenue
$510,141
Expenses
$446,405
Net income
$63,736
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.1$0.01$10.0$0.51$0.45$0.06
2023Detailed filing. Detailed filing data is available for this year.$9.32$0.02$9.29$0.07$0.25$0.17
2022Detailed filing. Detailed filing data is available for this year.$8.93$0.06$8.87$0.81$1.07$0.26
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$0.01$11.3$1.04$0.38$0.67
2020Detailed filing. Detailed filing data is available for this year.$9.20$0.01$9.19$0.58$0.39$0.19
2019Detailed filing. Detailed filing data is available for this year.$9.01$0.01$9.00$0.28$0.58$0.30
2018Detailed filing. Detailed filing data is available for this year.$9.31$0.01$9.30$0.05$0.60$0.56
2017Detailed filing. Detailed filing data is available for this year.$9.86$0.00$9.86$0.05$0.57$0.52
2016Detailed filing. Detailed filing data is available for this year.$10.4$0.00$10.4$0.17$0.56$0.39
2015Detailed filing. Detailed filing data is available for this year.$10.9$0.09$10.8$0.10$0.60$0.50
2014Detailed filing. Detailed filing data is available for this year.$11.3$0.00$11.3$0.10$0.31$0.21
2013Summary only. Only limited summary data is available for this year.$11.5$0.00$11.5$0.04$0.30$0.26
2012Summary only. Only limited summary data is available for this year.$11.8$0.02$11.7$0.10$0.30$0.20
2011Summary only. Only limited summary data is available for this year.$12.0$0.02$11.9$0.07$0.30$0.24