Bclf Ventures Inc
- Assets
- $107.6m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 50
- Location
- Boston, MA
- Founding
- 06/1996
- Data as of
- 12/2020
- EIN
- 04-3246552
Organization Overview
Bclf Ventures Inc is located in Boston, MA. The organization was established in 1996. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Bclf Ventures Inc employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bclf Ventures 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 12/2020, Bclf Ventures Inc generated $9.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $6.2m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY VENTURE CAPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MANAGES EQUITY INVESTMENT FUNDS WHICH INVEST IN BOTH EMERGING AND EXISTING BUSINESSES THAT CREATE JOBS OR PROVIDE SERVICES FOR LOW-INCOME COMMUNITIES.
THE ORGANIZATION'S DISREGARDED ENTITY, AURA MORTGAGE ADVISORS, ACTS AS A MORTGAGE BROKER/LENDER FOR LOW-INCOME PEOPLE AND COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elyse Cherry Sch J Page 29 CEO & Ex-Officio Board Member | OfficerTrustee | 16 | $397,588 |
Lisa Zappala Sch J Page 30 Chief Financial Officer | Officer | 8 | $85,871 |
E Matthew Gautieri Svp, Controller | 6 | $34,223 | |
Dewitt Jones Sch J Page 29 Executive VP & Ex-Officio | OfficerTrustee | 0 | $0 |
Michelle Volpe Sch J Page 29 President, Loan Fund & Ex-Officio Board Member | OfficerTrustee | 0 | $0 |
Rev James Walsh Sj Clerk Of The Board | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $186,293 |
| 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 | $9,107,552 |
| Statement of Expenses | |
|---|---|
| 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. | $289,340 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,676,893 |
| Pension plan accruals and contributions | $50,491 |
| Other employee benefits | $178,509 |
| Payroll taxes | $96,643 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $56,484 |
| Fees for services: Accounting | $49,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $223,216 |
| Advertising and promotion | $81,643 |
| Office expenses | $155,453 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,113 |
| Travel | $691 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,409 |
| Interest | $2,820,523 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,769 |
| Insurance | $129,309 |
| All other expenses | $0 |
| Total functional expenses | $6,189,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,100,359 |
| Savings and temporary cash investments | $881,278 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,612,431 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,798 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $83,984,584 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $107,589,450 |
| Accounts payable and accrued expenses | $166,239 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $76,875,137 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,846,517 |
| Total liabilities | $80,887,893 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $26,701,557 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bclf Ventures Inc has recieved totaling $9,500,000.
| Awarding Organization | Amount |
|---|---|
Bclf Managed Assets Corporation Boston, MA PURPOSE: TO PROVIDE ADDITIONAL INVESTMENTS IN AURA MORTGAGE AND WEGOWISE. | $9,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Green Energy Consumers Alliance Inc Jamaica Plain, MA | $5,258,503 | $8,625,489 |
Capital For Change Inc Wallingford, CT | $69,646,827 | $10,335,539 |
Operation Fuel Inc Hartford, CT | $2,801,976 | $6,597,042 |
Bclf Ventures Inc Boston, MA | $107,589,450 | $9,107,552 |
Webster Apartments Congers, NY | $14,551,827 | $6,588,397 |
Rental Assistance Corporation Of Buffalo Buffalo, NY | $7,021,377 | $3,957,549 |
Westside Ministries Inc Buffalo, NY | $1,861,315 | $3,049,976 |
Niagara Falls Neighborhood Housing Services Inc Niagara Falls, NY | $3,221,959 | $1,818,977 |
Neighborhood Housing Service Of New Britain Inc New Britain, CT | $9,799,451 | $3,488,244 |
Northfield Community Ldc Of Staten Island Inc Staten Island, NY | $972,612 | $2,043,555 |
Housing Corporation Of Arlington Arlington, MA | $44,078,576 | $2,009,359 |
Community Capital New York Inc Elmsford, NY | $13,076,152 | $2,371,640 |