Civic Intelligence

Massdevelopment Hefa Trust

990 • Fiscal year 2019 • EIN 04-3379905

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 13, 2020

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.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

17th percentile

0.03x

Higher debt load relative to revenue than 17% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

3rd percentile

-106%

Higher net margin than 3% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

82nd percentile

$235,277

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 83.4% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

22nd percentile

-3.2%

Faster asset growth than 22% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

516%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets10th percentile

Assets

Down

$9,009,460

Down $301,837 (-3.2%) from 2018

Net Assets

Down

$9,002,129

Down $298,426 (-3.2%) from 2018

Liabilities

Down

$7,331

Down $3,411 (-32%) from 2018

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin3rd percentile

Revenue

Up

$281,939

Up $236,150 (+516%) from 2018

Expenses

Down

$580,365

Down $23,208 (-3.8%) from 2018

Net Income

Up

-$298,426

Up $259,358 (+46%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2019

Assets$9,009,460
Liabilities$7,331
Net Assets$9,002,129
Open 2019 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

2019

Revenue$281,939
Expenses$580,365
Net Income-$298,426
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 13, 2020
Return Version
2018v3.1
Gross Receipts
$281,939
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 (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$8,402,786$8,736,594▲ $333,808
Savings and Temporary Cash Investments$716,020$217,826▼ $498,194
Other Notes and Loans Receivable, Net$163,394$35,738▼ $127,656
Cash and Non-Interest-Bearing Accounts$250$250→ $0
Total Assets$9,311,297$9,009,460▼ $301,837
Other Assets Total$28,847$19,052▼ $9,795
Liabilities
Accounts Payable and Accrued Expenses$4,363$4,209▼ $154
Other Liabilities$6,379$3,122▼ $3,257
Total Liabilities$10,742$7,331▼ $3,411
Net Assets / Fund Balance
Permanently Rstr Net Assets$9,300,555$9,002,129▼ $298,426
Total Net Assets Fund Balance$9,300,555$9,002,129▼ $298,426
Total Liabilities and Net Assets / Fund Balance$9,311,297$9,009,460▼ $301,837
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Brian KavoogianTrustee
Ricks FrazierTrustee (from 09/13/2018)
Mike KennealyTrustee (from 12/18/2018)
Robert M RuzzoTrustee (thru 09/13/2018)
Robert Ash JrTrustee (thru 12/18/2018)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$275,220
Other Revenue
$6,719
Change in Net Assets
$-298,426
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$483,924
Other Expenses$96,441
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$483,924--$483,924
Fees for Services Management-$84,043-$84,043
Fees for Service Investment Mgmnt Fees-$5,491-$5,491
Fees for Services Accounting-$3,883-$3,883
Fees for Services Other-$3,024-$3,024
Total Functional Expenses$483,924$96,441$0$580,365
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Brockton Neighborhood Health Center IncBrockton, MA501(c)(3)Convert Office Into Additional Vision Exam Room$50,000
Codman Square Health Center IncDorchester, MA501(c)(3)Upgrade of Access Control Base System to Enhance Campus Security$50,000
Community Health Connections IncFitchburg, MA501(c)(3)Construction of a Centralized Call Center$50,000
Greater New Bedford Community Health Center IncNew Bedford, MA501(c)(3)Upgrade of Under Sized Emergency Generator$50,000
South End Community Health Center IncBoston, MA501(c)(3)Equipment for Eye Clinic$50,000
Whittier Street Health Center Committee IncorporatedRoxbury, MA501(c)(3)Dental Equipment$50,000
North End Community Health Committee IncorporatedCharlestown, MA501(c)(3)Equipment$49,508
The General Hospital CorporationRevere, MA501(c)(3)Minor Construction and Equipment, Technology$46,679
Hilltown Community Health Centers IncWorthington, MA501(c)(3)Purchase of Equipment$45,035
Manet Community Health Center IncorporatedNorth Quincy, MA501(c)(3)Purchase and Install Security Equipment$42,702
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$3,122
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
2020-01-13
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
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 527 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 10 GRANTS TOTALING $483,924 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/Amt03122
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MDFA
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt03122
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt250000
IRS990ScheduleI/RecipientTable/CashGrantAmt350000
IRS990ScheduleI/RecipientTable/CashGrantAmt445035
IRS990ScheduleI/RecipientTable/CashGrantAmt542702
IRS990ScheduleI/RecipientTable/CashGrantAmt650000
IRS990ScheduleI/RecipientTable/CashGrantAmt746679
IRS990ScheduleI/RecipientTable/CashGrantAmt850000
IRS990ScheduleI/RecipientTable/CashGrantAmt949508
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/PurposeOfGrantTxt0CONVERT OFFICE INTO ADDITIONAL VISION EXAM ROOM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1UPGRADE OF ACCESS CONTROL BASE SYSTEM TO ENHANCE CAMPUS SECURITY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2CONSTRUCTION OF A CENTRALIZED CALL CENTER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3UPGRADE OF UNDER SIZED EMERGENCY GENERATOR
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4PURCHASE OF EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5PURCHASE AND INSTALL SECURITY EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6EQUIPMENT FOR EYE CLINIC
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7MINOR CONSTRUCTION AND EQUIPMENT, TECHNOLOGY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8DENTAL EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9EQUIPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BROCKTON NEIGHBORHOOD HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CODMAN SQUARE HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2COMMUNITY HEALTH CONNECTIONS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3GREATER NEW BEDFORD COMMUNITY HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4HILLTOWN COMMUNITY HEALTH CENTERS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5MANET COMMUNITY HEALTH CENTER INCORPORATED
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6SOUTH END COMMUNITY HEALTH CENTER INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7THE GENERAL HOSPITAL CORPORATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8WHITTIER STREET HEALTH CENTER COMMITTEE INCORPORATED
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9NORTH END COMMUNITY HEALTH COMMITTEE INCORPORATED
IRS990ScheduleI/RecipientTable/RecipientEIN0043165044
IRS990ScheduleI/RecipientTable/RecipientEIN1042678774
IRS990ScheduleI/RecipientTable/RecipientEIN2043452697
IRS990ScheduleI/RecipientTable/RecipientEIN3042675800
IRS990ScheduleI/RecipientTable/RecipientEIN4042161484
IRS990ScheduleI/RecipientTable/RecipientEIN5042646695
IRS990ScheduleI/RecipientTable/RecipientEIN6042456134
IRS990ScheduleI/RecipientTable/RecipientEIN7041564655
IRS990ScheduleI/RecipientTable/RecipientEIN8042619517
IRS990ScheduleI/RecipientTable/RecipientEIN9237089746
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt063 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1637 WASHINGTON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2326 NICHOLS ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3874 PURCHASE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt458 OLD NORTH ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5110 WEST SQUANTUM STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt61601 WASHINGTON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7300 OCEAN AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt81290 TREMONT STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt9332 HANOVER STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BROCKTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1DORCHESTER
IRS990ScheduleI/RecipientTable/USAddress/CityNm2FITCHBURG
IRS990ScheduleI/RecipientTable/USAddress/CityNm3NEW BEDFORD
IRS990ScheduleI/RecipientTable/USAddress/CityNm4WORTHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm5NORTH QUINCY
IRS990ScheduleI/RecipientTable/USAddress/CityNm6BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm7REVERE
IRS990ScheduleI/RecipientTable/USAddress/CityNm8ROXBURY
IRS990ScheduleI/RecipientTable/USAddress/CityNm9CHARLESTOWN
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/ZIPCd002301
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd102124
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd201420
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd302740
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd401098
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd502171
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd602118
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd702151
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd802120
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd902113
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/Total501c3OrgCnt010
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/CompensationBasedOnRltdOrgsAmt059695
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1204769
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt04402
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt126893
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt020816
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt11337
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt01041
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt12278
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RICKS FRAZIER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ROBERT M RUZZO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE (FROM 09/13/2018)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE (THRU 09/13/2018)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt085954
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1235277
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/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/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0MDFA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1MDFA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,009,460
Liabilities
$7,331
Net assets
$9,002,129
Revenue
$281,939
Expenses
$580,365
Net income
-$298,426
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