Massdevelopment Hefa Trust

Organization Overview

Massdevelopment Hefa Trust is located in Boston, MA. The organization was established in 1997. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massdevelopment Hefa Trust 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 06/2023, Massdevelopment Hefa Trust generated $74.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $247.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (9.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Massdevelopment Hefa Trust has awarded 98 individual grants totaling $4,561,081. 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

2023

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING THE YEAR, A TOTAL OF 4 GRANTS 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.


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Board, Officers & Key Employees

Name (title)Compensation
Ricks P Frazier
Trustee (thru 03/2023)
$0
Brian Kavoogian
Trustee
$0
Mike Kennealy
Trustee (thru 01/2023)
$0
Sean Calnan
Trustee (as Of 06/2023)
$0

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $283,768
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$209,519
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $74,249

Grants Awarded

Over the last fiscal year, Massdevelopment Hefa Trust has awarded $150,000 in support to 3 organizations.

Grant RecipientAmount

DIMOCK COMMUNITY HEALTH CENTER INC

PURPOSE: PROJECT RECOVER - MODIFYING AND EXPANDING DIMOCK'S HEALTH CARE SERVICES AND INFRASTRUCTURE (PROJECT RECOVER), THE HEALTH CENTER IS SEEKING TO BEGIN IMPLEMENTATION OF STRATEGIC "MOVES" WITHIN THE RICHARDS BUILDING AND EYE SERVICES AT DIMOCK.

$50,000

COMMUNITY HEALTH CENTER OF CAPE COD INC

PURPOSE: PURCHASE, UPGRADE AND INSTALL OUR IDENTIFICATION BADGE AND CAMERA SURVEILLANCE SYSTEMS AT OUR SATELLITE LOCATIONS IN CENTERVILLE, SANDWICH, FALMOUTH, AND BOURNE.

$50,000

FENWAY COMMUNITY HEALTH CENTER INC

PURPOSE: FUNDS ARE REQUESTED TO PURCHASE A 3D PRINTER FOR ITS DENTAL DEPARTMENT.

$50,000
View Grant Profile

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