Boston Local Development Corp

Organization Overview

Boston Local Development Corp is located in Boston, MA. The organization was established in 1980. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Local Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Boston Local Development Corp generated $895.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $680.2k during the year ending 06/2021. While expenses have increased by 0.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2018, Boston Local Development Corp has awarded 19 individual grants totaling $4,167,109. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO BENEFIT THE COMMUNITY BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR THE CITIZENS OF THE CITY OF BOSTON

Describe the Organization's Program Activity:

Part 3 - Line 4a

BLDC SUBCONTRACTS WITH ITS AFFILIATE, EDIC, TO ADMINISTER A REVOLVING LOAN FUND TO PROMOTE INDUSTRIAL AND ECONOMIC DEVELOPMENT AND JOB GROWTH. 34 REVOLVING LOANS WERE SERVICED IN FISCAL YEAR 2021.


EARNED INCOME TAX CREDIT PROGRAM - VOLUNTEER INCOME TAX ASSISTANCE (VITA) COMMUNITY-BASED PROGRAM THAT HAS LED THE TAX EQUITY FIELD IN BOSTON FOR 20 YEARS. THE PROGRAM PROVIDES FREE, HIGH-QUALITY TAX PREPARATION AND ASSET BUILDING SERVICES IN EIGHT LANGUAGES TO APPROXIMATELY 8,801 LOW AND MODERATE-INCOME TAXPAYERS IN BOSTON ANNUALLY.


FINANCIAL OPPORTUNITY CENTER - PROGRAM WHICH IS PROVIDED TO LOW-TO MODERATE-INCOME RESIDENTS BY PROVIDING CAREER SERVICES, TO HELP RESIDENTS START ON A PATHWAY THAT LEADS TO EMPLOYMENT OPPORTUNITIES THAT PAY LIVING WAGES, AND INDIVIDUALIZED FINANCIAL COACHING, WHICH BEGINS WITH A BUDGET AND GOAL FOR THE FUTURE, INCORPORATING SAVINGS AND ASSET BUILDING. THIS FREE COACHING TAKES PLACE IN ONE-ON-ONE MEETINGS OVER 18-24 MONTHS. THIS PROGRAM SUPPORTED APPROXIMATELY 1,000 RESIDENTS IN FISCAL YEAR 2021. CREDIT BUILDING PROGRAMMING. EARLY CHILDHOOD LITERACY, AND CHILDREN'S SAVINGS ACCOUNTS ARE ALSO KEY COMPONENTS OF THE SERVICES PROVIDED BY THE CENTER.


ALL OTHER PROGRAMS


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$699,554
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$699,554
Total Program Service Revenue$40,234
Investment income $4,991
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $895,678

Grants Awarded

Over the last fiscal year, Boston Local Development Corp has awarded $392,933 in support to 3 organizations.

Grant RecipientAmount

ECONOMIC DEVELOPMENT AND INDUSTRIAL CORPORATIONBOSTON

PURPOSE: FINANCIAL OPPORTUNITY CENTER

$340,333

ECONOMIC DEVELOPMENT AND INDUSTRIAL CORPORATIONBOSTON

PURPOSE: EARNED INCOME TAX CREDIT PROGRAM

$41,000

ECONOMIC DEVELOPMENT AND INDUSTRIAL CORPORATIONBOSTON

PURPOSE: READ BOSTON PROGRAM

$11,600
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Boston Local Development Corp has recieved totaling $173,000.

Awarding OrganizationAmount
The Blackbaud Giving Fund

Charleston, SC

PURPOSE: GENERAL SUPPORT

$75,000
The Blackbaud Giving Fund

Charleston, SC

PURPOSE: GENERAL SUPPORT

$75,000
Local Initiatives Support Corporation

New York, NY

PURPOSE: SEE PART IV

$23,000
View Grant Recipient Profile

Create an account to unlock the data you need.

or