Civic Intelligence

Dudley Square Realty Corporation

EIN 45-3587059 • 501(c)3 • Boston, MA

Profile

To stimulate new economic development in one of boston's most underdeveloped neighborhoods, as well as locate a new boston public schools ("bps") headquarter in the demographic center of boston's school population. The most significant activities have been to acquire the site, finance, construct and lease a 215,000 square foot building in dudley square in boston, ma, to be occupied by bps, and leased to the city of boston.

1 City Hall Square No M-5Boston, MA 02201

www.cityofboston.gov

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

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

Liabilities / Revenue

78th percentile

1.17x

Higher debt load relative to revenue than 78% of similar nonprofits.

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

Net Margin

1st percentile

-4036%

Higher net margin than 1% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

15th percentile

-4.0%

Faster asset growth than 15% of similar nonprofits.

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

Revenue Growth

98th percentile

282%

Faster revenue growth than 98% of similar nonprofits.

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

Assets

Down

$86,210,294

Down $4,086,177 (-4.5%) from 2023

Liabilities

Down

$0

Down $112,146 (-100%) from 2023

Net Assets

Down

$86,210,294

Down $3,974,031 (-4.4%) from 2023

Revenue

Down

$3,151

Down $93,020 (-97%) from 2023

Expenses

Up

$3,977,182

Up $2 (+0.0%) from 2023

Net Income

Down

-$3,974,031

Down $93,022 (-2.4%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2013: $56,560,982Liabilities 2013: $54,907,443Net Assets 2013: $1,653,5392013Assets 2014: $126,715,980Liabilities 2014: $63,697,603Net Assets 2014: $63,018,3772014Assets 2015: $133,571,882Liabilities 2015: $47,481,811Net Assets 2015: $86,090,0712015Assets 2016: $123,939,380Liabilities 2016: $40,810,040Net Assets 2016: $83,129,3402016Assets 2017: $121,273,802Liabilities 2017: $41,176,903Net Assets 2017: $80,096,8992017Assets 2018: $117,987,275Liabilities 2018: $40,873,142Net Assets 2018: $77,114,1332018Assets 2019: $115,045,002Liabilities 2019: $40,889,767Net Assets 2019: $74,155,2352019Assets 2020: $112,230,322Liabilities 2020: $34,626Net Assets 2020: $112,195,6962020Assets 2021: $98,074,702Liabilities 2021: $51,377Net Assets 2021: $98,023,3252021Assets 2022: $94,086,313Liabilities 2022: $20,979Net Assets 2022: $94,065,3342022Assets 2023: $90,296,471Liabilities 2023: $112,146Net Assets 2023: $90,184,3252023Assets 2024: $86,210,294Liabilities 2024: $0Net Assets 2024: $86,210,2942024

Highlighted filing

2024

Assets$86,210,294
Liabilities$0
Net Assets$86,210,294

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0-$20MRevenue 2013: $1,653,539Expenses 2013: $0Net Income 2013: $1,653,5392013Revenue 2014: $61,364,838Expenses 2014: $0Net Income 2014: $61,364,8382014Revenue 2015: $25,231,782Expenses 2015: $2,160,088Net Income 2015: $23,071,6942015Revenue 2016: $1,582,458Expenses 2016: $4,543,189Net Income 2016: -$2,960,7312016Revenue 2017: $1,590,844Expenses 2017: $4,623,285Net Income 2017: -$3,032,4412017Revenue 2018: $1,586,203Expenses 2018: $4,568,969Net Income 2018: -$2,982,7662018Revenue 2019: $1,591,731Expenses 2019: $4,550,629Net Income 2019: -$2,958,8982019Revenue 2020: $42,385,137Expenses 2020: $4,344,676Net Income 2020: $38,040,4612020Revenue 2021: $123Expenses 2021: $14,172,494Net Income 2021: -$14,172,3712021Revenue 2022: $25,170Expenses 2022: $3,983,162Net Income 2022: -$3,957,9922022Revenue 2023: $96,171Expenses 2023: $3,977,180Net Income 2023: -$3,881,0092023Revenue 2024: $3,151Expenses 2024: $3,977,182Net Income 2024: -$3,974,0312024

Highlighted filing

2024

Revenue$3,151
Expenses$3,977,182
Net Income-$3,974,031

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$86.2$0.00$86.2$0.00$3.98$3.97
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$90.3$0.11$90.2$0.10$3.98$3.88
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$94.1$0.02$94.1$0.03$3.98$3.96
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$98.1$0.05$98.0$0.00$14.2$14.2
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$0.03$112$42.4$4.34$38.0
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$115$40.9$74.2$1.59$4.55$2.96
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$118$40.9$77.1$1.59$4.57$2.98
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$121$41.2$80.1$1.59$4.62$3.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$124$40.8$83.1$1.58$4.54$2.96
2015Detailed filing. Detailed filing data is available for this year.$134$47.5$86.1$25.2$2.16$23.1
2014Detailed filing. Detailed filing data is available for this year.$127$63.7$63.0$61.4$0.00$61.4
2013Summary only. Only limited summary data is available for this year.$56.6$54.9$1.65$1.65$0.00$1.65
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2017 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 21, 2018
Return Version
2016v3.0
Gross Receipts
$1,590,844
Mission and Program Overview

Mission

To stimulate new economic development in one of boston's most underdeveloped neighborhoods, as well as to locate a new boston public schools ("bps") headquarter in the demographic center of boston's school population. The most significant activities have been to acquire the site, finance, construct and lease a 215,000 square foot building in dudley square in boston, ma, to be occupied by bps, and leased to the city of boston.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$116,390,486$112,738,661▼ $3,651,825
Accounts Receivable$5,636,382$6,941,668▲ $1,305,286
Cash and Non-Interest-Bearing Accounts$1,365,814$1,042,234▼ $323,580
Savings and Temporary Cash Investments$546,581$551,127▲ $4,546
Total Assets$123,939,380$121,273,802▼ $2,665,578
Other Assets Total$117$112▼ $5
Liabilities
Mortgage Notes Payable Secured by Investment Property$40,805,121$40,805,121→ $0
Accounts Payable and Accrued Expenses$4,919$371,782▲ $366,863
Total Liabilities$40,810,040$41,176,903▲ $366,863
Net Assets / Fund Balance
Unrestricted Net Assets$81,223,294$78,190,853▼ $3,032,441
Temporarily Rstr Net Assets$1,906,046$1,906,046→ $0
Total Net Assets Fund Balance$83,129,340$80,096,899▼ $3,032,441
Total Liabilities and Net Assets / Fund Balance$123,939,380$121,273,802▼ $2,665,578

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$109,514,675$9,799,673$119,314,348
Land$3,223,986-$3,223,986
Compensation and Service Providers

Employees

NameTitleOtherTotal
Patrick BrophyClerk$146,884$146,884
John BarrosTreasurer$141,569$141,569
James KennedyInformation Officer$115,267$115,267

Board Members and Trustees

NameTitle
David SweeneyPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,580,786
Investment Income
$10,058
Other Revenue
$0
Change in Net Assets
$-3,032,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,623,285
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$3,970,940--$3,970,940
Interest$340,695--$340,695
Fees for Services Management$150,000--$150,000
Other Expenses$91,000--$91,000
Fees for Services Legal$27,295--$27,295
Occupancy$20,755--$20,755
Office Expenses$13,100--$13,100
Fees for Services Accounting$9,500--$9,500
Total Functional Expenses$4,623,285$0$0$4,623,285
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
Annual disclosure for covered persons
Yes
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
Yes
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

The corporation does not have other commitees other than the board of directors.

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

A copy of the form 990 is provided to the organization's executive committee and board of directors for review prior to filing.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is detailed in the organizations bylaws. Board members and officers are required to immediately disclose any conflicts of interest and this is monitored by the board president.

Form 990, Part VI, Section C, Line 19

The corporation makes its governing documents, conflict of interest policy, and combining financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Dudley Square Realty Corporation
EIN
45-3587059
Phone
6176354140
Address
1 CITY HALL SQUARE NO M-5, BOSTON, MA 02201

Signing Officer

Name
Emme Handy
Title
President
Phone
6176354140
Signed
2018-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emme Handy
Formed
2011
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
O'CONNOR & DREW PC
Address
25 BRAINTREE HILL OFC PK SUITE 102, BRAINTREE, MA 02184
Preparer
Steven J Cohen
Phone
6174711120
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Section A, Line 2C

The organization has not changed the process for oversight of the audit and selection of the independent accountant.

Financial Statement Notes

PART X, LINE 2:

The corporation follows the accounting for uncertainty in income taxes standard, which requires the corporation to report uncertain tax positions, related interest and penalties, and to adjust its assets and liabilities related to unrecognized tax benefits and accrued interest and penalties accordingly. As of june 30, 2017, the corporation determined that there are no material unrecognized tax benefits to report. Information returns filed for the past three years (or since inception) remain subject to examination by the internal revenue service and massachusetts. The corporation does not expect that the amounts of unrecognized tax benefits will change significantly within the next twelve months.

Raw XML AppendixShowing 400 of 420 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/SupportingOrgType1Ind0X
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD, WHICH REQUIRES THE CORPORATION TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF JUNE 30, 2017, THE CORPORATION DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. INFORMATION RETURNS FILED FOR THE PAST THREE YEARS (OR SINCE INCEPTION) REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND MASSACHUSETTS. THE CORPORATION DOES NOT EXPECT THAT THE AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT TWELVE MONTHS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION DOES NOT HAVE OTHER COMMITEES OTHER THAN THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S EXECUTIVE COMMITTEE AND BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS DETAILED IN THE ORGANIZATIONS BYLAWS. BOARD MEMBERS AND OFFICERS ARE REQUIRED TO IMMEDIATELY DISCLOSE ANY CONFLICTS OF INTEREST AND THIS IS MONITORED BY THE BOARD PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND COMBINING FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS NOT CHANGED THE PROCESS FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT.
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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, SECTION A, LINE 2C
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE A FOUNDATION FOR NEW ECONOMIC DEVELOPMENT IN BOSTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1TO SUPPORT CITY PROGRAMS
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
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IRS990/TotalFunctionalExpensesGrp/TotalAmt04623285
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IRS990/TotalProgramServiceExpensesAmt04623285
IRS990/TotalProgramServiceRevenueAmt01580786
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IRS990/TotalVolunteersCnt03
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IRS990/UponRequestInd0X
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ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06176354140
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DUDLEY SQUARE REALTY CORPORATION
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