Civic Intelligence

Massdevelopment Hefa Trust

990 • Fiscal year 2017 • EIN 04-3379905

Jul 01, 2016 to Jun 30, 2017 • Filed on May 10, 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

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

32nd percentile

0.08x

Higher debt load relative to revenue than 32% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

1st percentile

-1055%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

71st percentile

$176,843

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 356.1% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

15th percentile

-5.0%

Faster asset growth than 15% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

2nd percentile

-71%

Faster revenue growth than 2% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$9,861,633

Down $524,171 (-5.0%) from 2016

Net Assets

Down

$9,857,684

Down $524,098 (-5.0%) from 2016

Liabilities

Down

$3,949

Down $73 (-1.8%) from 2016

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin1st percentile

Revenue

Down

$49,658

Down $121,392 (-71%) from 2016

Expenses

Up

$573,756

Up $11,887 (+2.1%) from 2016

Net Income

Down

-$524,098

Down $133,279 (-34%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth15th 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

2017

Assets$9,861,633
Liabilities$3,949
Net Assets$9,857,684
Open 2017 Filing

Operations Trend

Revenue Growth2nd 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

2017

Revenue$49,658
Expenses$573,756
Net Income-$524,098
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 10, 2018
Return Version
2016v3.0
Gross Receipts
$49,658
Mission and Program Overview

Mission

The trust may provide funds (i) for the benefit of massachusetts development finance agency (massdevelopment), a quasipublic entity, to reduce charges that it otherwise would impose on certain institutions using its services and (ii) for the benefit of (see schedule o) 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$8,875,547$8,589,775▼ $285,772
Savings and Temporary Cash Investments$974,637$907,894▼ $66,743
Other Notes and Loans Receivable, Net$508,962$330,939▼ $178,023
Cash and Non-Interest-Bearing Accounts$250$250→ $0
Total Assets$10,385,804$9,861,633▼ $524,171
Other Assets Total$26,408$32,775▲ $6,367
Liabilities
Accounts Payable and Accrued Expenses$4,022$3,949▼ $73
Total Liabilities$4,022$3,949▼ $73
Net Assets / Fund Balance
Permanently Rstr Net Assets$10,381,782$9,857,684▼ $524,098
Total Net Assets Fund Balance$10,381,782$9,857,684▼ $524,098
Total Liabilities and Net Assets / Fund Balance$10,385,804$9,861,633▼ $524,171
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

NameTitle
Brian KavoogianTrustee
Robert Ash JrTrustee
Patricia DeangelisTrustee (from Sept. 2016)
Teresa M PattenTrustee (thru Aug. 2016)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$40,288
Other Revenue
$9,370
Change in Net Assets
$-524,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$496,604
Other Expenses$77,152
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$496,604--$496,604
Fees for Services Management-$66,843-$66,843
Fees for Service Investment Mgmnt Fees-$6,392-$6,392
Fees for Services Accounting-$3,623-$3,623
Fees for Services Other-$265-$265
Travel-$29-$29
Total Functional Expenses$496,604$77,152$0$573,756
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Caring Health Center IncSpringfield, MA501(c)(3)Renovations for 2 New Exam Rooms$50,000
Dothouse HealthDorchester, MA501(c)(3)Dental Sterilization Equipment$50,000
Greater Lawrence Family Health Center IncMethuen, MA501(c)(3)Outfit Homeless Mobile Unit$50,000
Holyoke Health Center IncHolyoke, MA501(c)(3)Renovations to Expand Eye Care$50,000
Lowell Community Health CenterLowell, MA501(c)(3)Dental Equipment$50,000
South End Community Health CenterBoston, MA501(c)(3)Dental Chairs$50,000
Edward M Kennedy Community Health CenterWorcester, MA501(c)(3)VIDEO CONFERENCING 3 CENTERS; TELEHEALTH$49,900
Community Health Center of Cape CodMashpee, MA501(c)(3)EXPAND REMOTE PT MONITORING & TELEHEALTH PGM; RETINAL$49,603
Family Health Center of WorcesterWorcester, MA501(c)(3)Equipment for New School-based Health Center in Worcester$47,988
Hilltown Community Health Centers IncWorthington, MA501(c)(3)Panoramic Xray$37,913
Neponset Health CenterDorchester, MA501(c)(3)Software for Medical Interpreter Program$11,200
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
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
Robert Ruzzo
Title
Trustee
Phone
6173302000
Signed
2018-05-10
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
3

Preparer

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

Additional Explanations

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 502 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 $496,604 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
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt149603
IRS990ScheduleI/RecipientTable/CashGrantAmt250000
IRS990ScheduleI/RecipientTable/CashGrantAmt349900
IRS990ScheduleI/RecipientTable/CashGrantAmt447988
IRS990ScheduleI/RecipientTable/CashGrantAmt550000
IRS990ScheduleI/RecipientTable/CashGrantAmt637913
IRS990ScheduleI/RecipientTable/CashGrantAmt750000
IRS990ScheduleI/RecipientTable/CashGrantAmt850000
IRS990ScheduleI/RecipientTable/CashGrantAmt911200
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/PurposeOfGrantTxt0RENOVATIONS FOR 2 NEW EXAM ROOMS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1EXPAND REMOTE PT MONITORING & TELEHEALTH PGM; RETINAL
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2DENTAL STERILIZATION EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3VIDEO CONFERENCING 3 CENTERS; TELEHEALTH
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4EQUIPMENT FOR NEW SCHOOL-BASED HEALTH CENTER IN WORCESTER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5OUTFIT HOMELESS MOBILE UNIT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6PANORAMIC XRAY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7RENOVATIONS TO EXPAND EYE CARE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8DENTAL EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9SOFTWARE FOR MEDICAL INTERPRETER PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt10DENTAL CHAIRS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CARING HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1COMMUNITY HEALTH CENTER OF CAPE COD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2DOTHOUSE HEALTH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3EDWARD M KENNEDY COMMUNITY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4FAMILY HEALTH CENTER OF WORCESTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5GREATER LAWRENCE FAMILY HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6HILLTOWN COMMUNITY HEALTH CENTERS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7HOLYOKE HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8LOWELL COMMUNITY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9NEPONSET HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10SOUTH END COMMUNITY HEALTH CENTER
IRS990ScheduleI/RecipientTable/RecipientEIN0422620040
IRS990ScheduleI/RecipientTable/RecipientEIN1043370560
IRS990ScheduleI/RecipientTable/RecipientEIN2237125970
IRS990ScheduleI/RecipientTable/RecipientEIN3042513817
IRS990ScheduleI/RecipientTable/RecipientEIN4042485308
IRS990ScheduleI/RecipientTable/RecipientEIN5042708824
IRS990ScheduleI/RecipientTable/RecipientEIN6042161484
IRS990ScheduleI/RecipientTable/RecipientEIN7042492730
IRS990ScheduleI/RecipientTable/RecipientEIN8042881348
IRS990ScheduleI/RecipientTable/RecipientEIN9237100550
IRS990ScheduleI/RecipientTable/RecipientEIN10042456134
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01049 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1107 COMMERCIAL STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21353 DORCESTER AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3650 LINCOLN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt426 QUEEN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5ONE GRIFFIN BROOK DRIVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt658 OLD NORTH ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7PO BOX 6260
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt8161 JACKSON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt9398 NEPONSET AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt101601 WASHINGTON STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0SPRINGFIELD
IRS990ScheduleI/RecipientTable/USAddress/CityNm1MASHPEE
IRS990ScheduleI/RecipientTable/USAddress/CityNm2DORCHESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm3WORCESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm4WORCESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm5METHUEN
IRS990ScheduleI/RecipientTable/USAddress/CityNm6WORTHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm7HOLYOKE
IRS990ScheduleI/RecipientTable/USAddress/CityNm8LOWELL
IRS990ScheduleI/RecipientTable/USAddress/CityNm9DORCHESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm10BOSTON
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/ZIPCd001103
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd102649
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd202122
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd301605
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd401610
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd501844
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd601098
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd701041
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd801852
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd902122
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1002118
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/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0107400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1161683
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt07785
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt17129
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt07584
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt13850
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt034737
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt14181
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TERESA M PATTEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1PATRICIA DEANGELIS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE (THRU AUG. 2016)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE (FROM SEPT. 2016)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0157506
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1176843
IRS990ScheduleJ/SeverancePaymentInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0DURING THE YEAR THERE WERE SEVERANCE PAYMENTS MADE. ALL AMOUNTS PAID HAVE BEEN REPORTED ON FORM W-2 AS TAXABLE INCOME AND ARE PROPERLY DISCLOSED IN PART VII, AND SCHEDULE J, PART II AS REQUIRED BY THE INSTRUCTIONS TO THE FORM 990 AND SCHEDULE J. THE TERMS AND CONDITIONS OF SUCH AGREEMENT ARE CONFIDENTIAL AND WILL BE MADE AVAILABLE TO THE IRS UPON ITS REQUEST.
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/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/ExplanationTxt5ALL 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, 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

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,861,633
Liabilities
$3,949
Net assets
$9,857,684
Revenue
$49,658
Expenses
$573,756
Net income
-$524,098
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