Civic Intelligence

Massdevelopment Hefa Trust

990 • Fiscal year 2018 • EIN 04-3379905

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 2018

Organization ProfileN/A
99 High StreetBoston, MA 02110

(617) 330-2000

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

58th percentile

0.23x

Higher debt load relative to revenue than 58% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

1st percentile

-1218%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$201,885

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 440.9% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

19th percentile

-5.6%

Faster asset growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

22nd percentile

-7.8%

Faster revenue growth than 22% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets10th percentile

Assets

Down

$9,311,297

Down $550,336 (-5.6%) from 2017

Net Assets

Down

$9,300,555

Down $557,129 (-5.7%) from 2017

Liabilities

Up

$10,742

Up $6,793 (+172%) from 2017

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin1st percentile

Revenue

Down

$45,789

Down $3,869 (-7.8%) from 2017

Expenses

Up

$603,573

Up $29,817 (+5.2%) from 2017

Net Income

Down

-$557,784

Down $33,686 (-6.4%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth19th 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

2018

Assets$9,311,297
Liabilities$10,742
Net Assets$9,300,555
Open 2018 Filing

Operations Trend

Revenue Growth22nd 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

2018

Revenue$45,789
Expenses$603,573
Net Income-$557,784
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$45,789
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 (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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,589,775$8,402,786▼ $186,989
Savings and Temporary Cash Investments$907,894$716,020▼ $191,874
Other Notes and Loans Receivable, Net$330,939$163,394▼ $167,545
Cash and Non-Interest-Bearing Accounts$250$250→ $0
Total Assets$9,861,633$9,311,297▼ $550,336
Other Assets Total$32,775$28,847▼ $3,928
Liabilities
Other Liabilities$0$6,379▲ $6,379
Accounts Payable and Accrued Expenses$3,949$4,363▲ $414
Total Liabilities$3,949$10,742▲ $6,793
Net Assets / Fund Balance
Permanently Rstr Net Assets$9,857,684$9,300,555▼ $557,129
Total Net Assets Fund Balance$9,857,684$9,300,555▼ $557,129
Total Liabilities and Net Assets / Fund Balance$9,861,633$9,311,297▼ $550,336
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleOtherTotal
Robert M RuzzoTrustee (from 2/8/2018)$189$189

Board Members and Trustees

NameTitle
Brian KavoogianTrustee
Robert Ash JrTrustee
Patricia DeangelisTrustee (thru 1/9/2018)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$36,971
Other Revenue
$8,818
Change in Net Assets
$-557,784
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$500,000
Other Expenses$103,573
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$500,000--$500,000
Fees for Services Management-$88,662-$88,662
Fees for Service Investment Mgmnt Fees-$5,965-$5,965
Fees for Services Other-$4,732-$4,732
Fees for Services Accounting-$4,214-$4,214
Total Functional Expenses$500,000$103,573$0$603,573
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Charles River Community HealthBrighton, MA501(c)(3)It Infrastructure Upgrade to Electronic Health Record and Training$50,000
Community Health ProgramsGreat Barrington, MA501(c)(3)Mobile Dental Equipment$50,000
Community HealthlinkWorcester, MA501(c)(3)Centralized Scheduling Area$50,000
Dimock Community Health CenterRoxbury, MA501(c)(3)Roof Repairs$50,000
Duffy Health CenterHyannis, MA501(c)(3)Interior Renovation in Order to Maximize Clinical Efficiency$50,000
Manet Community Health Center IncNorth Quincy, MA501(c)(3)It and Hvac to Support Administrative Consolidation$50,000
Outer Cape Health Services IncHarwich Port, MA501(c)(3)New Health Center$50,000
UPHAM'S CORNER HEALTH CENTERDorchester, MA501(c)(3)Hvac$50,000
The Family Healthcare Center at SstarFall River, MA501(c)(3)Renovations, Equipment and Furniture, Aco Support and Training$49,948
South End Community Health CenterBoston, MA501(c)(3)Security Equipment$36,000
East Boston Neighborhood Health CenteEast Boston, MA501(c)(3)Facility Upgrade and Equipment Purchase to Increase Capacity of Vision Clinic$14,052
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 to Mdfa$6,379
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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

“The trust has a paid preparer for the return. The prepared return will be reviewed by members of massdevelopment, which is the trust's operating agent.”

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 reported 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(d). The organization's form 990 is available via guidestar website.”

Filing and Contact Details

Filer

Filer Name
Massdevelopmenthefa Trust
EIN
04-3379905
Phone
6173302000
Address
99 HIGH STREET, BOSTON, MA 02110

Signing Officer

Name
Ricks Frazier
Title
Trustee
Phone
6173302000
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
See Schedule O
Formed
1997
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Rsm US Llp
Address
80 CITY SQUARE, BOSTON, MA 02129-3742
Preparer
Lynne Johnson
Phone
6179129000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Return of grant funds 655.”

FORM 990, BOX F:

“All trustees have equal power and are each considered to have ultimate responsibility for implementing the decisions of the organization's governing body or for supervising the management, administration, or operation of the organization.”

Raw XML AppendixShowing 400 of 491 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/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
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 11 GRANTS TOTALING $500,000 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/BusinessNameLine1Txt0MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06379
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MDFA
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt06379
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt250000
IRS990ScheduleI/RecipientTable/CashGrantAmt350000
IRS990ScheduleI/RecipientTable/CashGrantAmt450000
IRS990ScheduleI/RecipientTable/CashGrantAmt514052
IRS990ScheduleI/RecipientTable/CashGrantAmt650000
IRS990ScheduleI/RecipientTable/CashGrantAmt750000
IRS990ScheduleI/RecipientTable/CashGrantAmt836000
IRS990ScheduleI/RecipientTable/CashGrantAmt949948
IRS990ScheduleI/RecipientTable/CashGrantAmt1050000
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/IRCSectionDesc7501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc8501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc9501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc10501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0IT INFRASTRUCTURE UPGRADE TO ELECTRONIC HEALTH RECORD AND TRAINING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1MOBILE DENTAL EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2CENTRALIZED SCHEDULING AREA
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3ROOF REPAIRS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4INTERIOR RENOVATION IN ORDER TO MAXIMIZE CLINICAL EFFICIENCY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5FACILITY UPGRADE AND EQUIPMENT PURCHASE TO INCREASE CAPACITY OF VISION CLINIC
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6IT AND HVAC TO SUPPORT ADMINISTRATIVE CONSOLIDATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7NEW HEALTH CENTER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8SECURITY EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9RENOVATIONS, EQUIPMENT AND FURNITURE, ACO SUPPORT AND TRAINING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt10HVAC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CHARLES RIVER COMMUNITY HEALTH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1COMMUNITY HEALTH PROGRAMS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2COMMUNITY HEALTHLINK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3DIMOCK COMMUNITY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4DUFFY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5EAST BOSTON NEIGHBORHOOD HEALTH CENTE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6MANET COMMUNITY HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7OUTER CAPE HEALTH SERVICES INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8SOUTH END COMMUNITY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9THE FAMILY HEALTHCARE CENTER AT SSTAR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10UPHAM'S CORNER HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientEIN0237221597
IRS990ScheduleI/RecipientTable/RecipientEIN1042582119
IRS990ScheduleI/RecipientTable/RecipientEIN2042626179
IRS990ScheduleI/RecipientTable/RecipientEIN3043487835
IRS990ScheduleI/RecipientTable/RecipientEIN4043373741
IRS990ScheduleI/RecipientTable/RecipientEIN5237425849
IRS990ScheduleI/RecipientTable/RecipientEIN6042646695
IRS990ScheduleI/RecipientTable/RecipientEIN7042500828
IRS990ScheduleI/RecipientTable/RecipientEIN8042456134
IRS990ScheduleI/RecipientTable/RecipientEIN9042604426
IRS990ScheduleI/RecipientTable/RecipientEIN10237211732
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0495 WESTERN AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1444 STOCKBRIDGE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt272 JAQUES AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt355 DIMOCK STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt494 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt510 GOVE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6110 WEST SQUANTUM STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7PO BOX 598
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt81601 WASHINGTON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt9386 STANLEY STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt10415 COLUMBIA ROAD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BRIGHTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1GREAT BARRINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm2WORCESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm3ROXBURY
IRS990ScheduleI/RecipientTable/USAddress/CityNm4HYANNIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm5EAST BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm6NORTH QUINCY
IRS990ScheduleI/RecipientTable/USAddress/CityNm7HARWICH PORT
IRS990ScheduleI/RecipientTable/USAddress/CityNm8BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm9FALL RIVER
IRS990ScheduleI/RecipientTable/USAddress/CityNm10DORCHESTER
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/StateAbbreviationCd7MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd8MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd9MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd10MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002135
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1012300030
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd201610
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd302119
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd402601
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd502128
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd602171
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd702646
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd802118
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd902720
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1002125
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANT RECIPIENTS WERE REQUIRED TO SIGN A GRANT AGREEMENT PRIOR TO RECEIVING FUNDING. EACH GRANT AGREEMENT INCLUDED A REPORTING REQUIREMENT SECTION. THE RECIPIENTS WERE REQUIRED TO FORWARD STATUS UPDATES, AND ALSO TO NOTIFY THE TRUST WHEN THE PROJECT WAS COMPLETED. THE RECIPIENTS ALSO AGREED TO ALLOW A REPRESENTATIVE OF THE TRUST TO VISIT THE PROJECT SITE FOR THE PURPOSE OF INSPECTING THE PROJECT AND ENSURING COMPLIANCE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt011
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0162868
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt020988
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt09767
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt08262
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PATRICIA DEANGELIS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE (THRU 1/9/2018)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0201885
IRS990ScheduleJ/SeverancePaymentInd00
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/ExplanationTxt1THE TRUST HAS A PAID PREPARER FOR THE RETURN. THE PREPARED RETURN WILL BE REVIEWED BY MEMBERS OF MASSDEVELOPMENT, WHICH IS THE TRUST'S OPERATING AGENT.
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 REPORTED 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(D). THE ORGANIZATION'S FORM 990 IS AVAILABLE VIA GUIDESTAR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5RETURN OF GRANT FUNDS 655.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL TRUSTEES HAVE EQUAL POWER AND ARE EACH CONSIDERED TO HAVE ULTIMATE RESPONSIBILITY FOR IMPLEMENTING THE DECISIONS OF THE ORGANIZATION'S GOVERNING BODY OR FOR SUPERVISING THE MANAGEMENT, ADMINISTRATION, OR OPERATION OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, BOX F:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0043431814
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0115
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECONOMY GROWTH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 6
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt099 HIGH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BOSTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002110
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,311,297
Liabilities
$10,742
Net assets
$9,300,555
Revenue
$45,789
Expenses
$603,573
Net income
-$557,784
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