E B C D C Inc
- Assets
- $58.2m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 66
- Location
- East Boston, MA
- Founding
- 08/1980
- Data as of
- 12/2021
- EIN
- 04-2755270
Organization Overview
E B C D C Inc is located in East Boston, MA. The organization was established in 1980. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, E B C D C Inc employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. E B C D C Inc 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 12/2021, E B C D C Inc generated $4.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE CREATION OF AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT THAT BENEFITS THE RESIDENTS OF EAST BOSTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED ENTITIES IN EAST BOSTON IN DEVELOPING DIFFERENT PROJECTS TO INCREASE THE STOCK OF LOW AND MEDIUM INCOME AFFORDABLE HOUSING AVAILABLE TO THE RESIDENTS OF EAST BOSTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Caldarelli President | OfficerTrustee | 40 | $279,247 |
Salvatore Colombo Gen. Mgr. | Officer | 40 | $260,136 |
Albert Festa Fin. Director | Officer | 40 | $255,036 |
Cynthia Fronduto Director Of Accounting | 40 | $172,834 | |
Blanca Ayala Asst. Treasurer | OfficerTrustee | 1 | $0 |
Ruth Capone Secretary/clerk | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michaelangelo Interbartolo Jr Aia Architectural | 8/30/17 | $222,194 |
Axiom Partners Inc Environmental Consulting | 8/30/17 | $132,874 |
Davis Square Architects Architectural | 8/30/17 | $117,909 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $555,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $560,900 |
| Total Program Service Revenue | $0 |
| Investment income | $452,221 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,931 |
| Net Gain/Loss on Asset Sales | $55,474 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,262,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $794,419 |
| Compensation of current officers, directors, key employees. | $267,141 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,111,900 |
| Pension plan accruals and contributions | $97,167 |
| Other employee benefits | $471,643 |
| Payroll taxes | $254,318 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,918 |
| Fees for services: Accounting | $49,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,998 |
| Office expenses | $13,972 |
| Information technology | $94,323 |
| Royalties | $0 |
| Occupancy | $62,868 |
| Travel | $18,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,859 |
| Interest | $114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,605 |
| Insurance | $68,141 |
| All other expenses | $72,578 |
| Total functional expenses | $5,308,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $351,377 |
| Savings and temporary cash investments | $5,171,368 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,336 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,109,480 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $68,551 |
| Net Land, buildings, and equipment | $18,748,305 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $531,717 |
| Intangible assets | $0 |
| Other assets | $3,112,879 |
| Total assets | $58,217,013 |
| Accounts payable and accrued expenses | $1,215,231 |
| Grants payable | $0 |
| Deferred revenue | $56,926 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $16,418,286 |
| Unsecured mortgages and notes payable | $8,054,341 |
| Other liabilities | $6,755,493 |
| Total liabilities | $32,500,277 |
| Net assets without donor restrictions | $25,716,736 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $58,217,013 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that E B C D C Inc has recieved totaling $260,048.
| Awarding Organization | Amount |
|---|---|
Lyman School Housing Committee Inc East Boston, MA PURPOSE: Community Benefit | $260,048 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Veterans Inc Worcester, MA | $18,236,837 | $18,440,204 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |
Community Action Agency Of New Haven Inc New Haven, CT | $523,093 | $14,060,753 |
Economic Opportunity Commission Of Nassau County Inc Hempstead, NY | $10,306,992 | $13,197,438 |
Cypress Hills Local Development Corporation Inc Brooklyn, NY | $20,394,898 | $16,091,549 |