Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $16,140,000

• 2a · Program service revenue: INTEREST ON LOANS

  total $18,248,630 · related or exempt $18,248,630

• 2b · Program service revenue: LOAN FEES AND OTHER

  total $1,756,130 · related or exempt $1,756,130

• 2c · Program service revenue: PROGRAM INTEREST

  total $789,320 · related or exempt $789,320

• 3 · Investment income

  total $2,567,806 · excluded $2,567,806

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $594,294 · program services $487,321 · management and general $106,973

• 7 · Other salaries and wages

  total $3,625,905 · program services $2,649,400 · management and general $976,505

• 8 · Pension plan contributions

  total $211,022 · program services $165,520 · management and general $45,502

• 9 · Other employee benefits

  total $441,931 · program services $273,939 · management and general $167,992

• 10 · Payroll taxes

  total $280,614 · program services $208,477 · management and general $72,137

• 11b · Fees: legal

  total $159,257 · program services $159,257

• 11c · Fees: accounting

  total $122,899 · program services $49,600 · management and general $73,299

• 11f · Fees: investment management

  total $54,156 · program services $54,156

• 11g · Fees: other

  total $344,655 · program services $216,052 · management and general $128,603

• 12 · Advertising and promotion

  total $186,037 · fundraising $186,037

• 13 · Office expenses

  total $387,138 · program services $129,980 · management and general $257,158

• 14 · Information technology

  total $274,330 · management and general $274,330

• 16 · Occupancy

  total $278,997 · management and general $278,997

• 17 · Travel

  total $135,070 · program services $82,323 · management and general $52,747

• 19 · Conferences, conventions and meetings

  total $44,016 · program services $9,067 · management and general $34,949

• 20 · Interest

  total $7,377,341 · program services $7,377,341

• 22 · Depreciation, depletion and amortization

  total $175,577 · program services $109,752 · management and general $65,825

• 23 · Insurance

  total $100,611 · management and general $100,611

• 24a · Other expenses: MISCELLANEOUS

  total $161,215 · program services $65,501 · management and general $95,714

• 24b · Other expenses: CREDIT LOSS PROVISION

  total $153,800 · program services $153,800

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $43,436,309 · end of year $47,628,746

• 2 · Savings and temporary cash investments

  beginning of year $57,347,300 · end of year $110,589,818

• 4 · Accounts receivable

  beginning of year $2,843,190 · end of year $4,316,663

• 13 · Investments: program-related

  beginning of year $245,270,494 · end of year $327,082,565

• 15 · Other assets

  beginning of year $5,000,000 · end of year $5,000,000

• 17 · Accounts payable and accrued expenses

  beginning of year $1,985,945 · end of year $2,716,165

• 19 · Deferred revenue

  beginning of year $4,336,446 · end of year $7,696,446

• 20 · Tax-exempt bond liabilities

  end of year $26,275,000

• 21 · Escrow or custodial account liability

  beginning of year $866,196 · end of year $875,499

• 24 · Unsecured notes and loans payable

  beginning of year $191,509,109 · end of year $276,540,919

• 25 · Other liabilities

  beginning of year $24,459,968 · end of year $25,381,113

• 27 · Net assets without donor restrictions

  beginning of year $82,350,772 · end of year $97,676,909

• 28 · Net assets with donor restrictions

  beginning of year $48,388,857 · end of year $57,455,741

The filer's explanations (Part III)

PART I, LINE 4B

ELYSE CHERRY, CEO, 457F PLAN. DEWITT JONES, EXECUTIVE VP, 457F PLAN. LISA ZAPPALA, CFO, 457F PLAN.

SCHEDULE J, PART II:

ELYSE CHERRY, INCLUDED IN PART II, COLUMN B (III) IS A $162,500 457F PAYOUT. RELATED TO THIS PAYOUT AND REPORTED IN PART II, COLUMN F IS $87,500. THE NET COMPENSATION AS CALCULATED BY TAKING PART II, COLUMN E LESS PART II, COLUMN F IS $1,124,619. DEWITT JONES, INCLUDED IN PART II, COLUMN B (III) IS A $75,000 457F PAYOUT. RELATED TO THIS PAYOUT AND REPORTED IN PART II, COLUMN F IS $37,500. THE NET COMPENSATION AS CALCULATED BY TAKING PART II, COLUMN E LESS PART II, COLUMN F IS $312,482. LISA ZAPPALA, INCLUDED IN PART II, COLUMN B (III) IS A $75,000 457F PAYOUT. RELATED TO THIS PAYOUT AND REPORTED IN PART II, COLUMN F IS $37,500. THE NET COMPENSATION AS CALCULATED BY TAKING PART II, COLUMN E LESS PART II, COLUMN F IS $476,583.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• BCC REO LLC

  TO HOLD REAL AND PERSONAL PROPERTY · MA · income $0 · assets $0

  Directly controlled by BLUEHUB LOAN FUND INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• BCLF VENTURES II LLC

  TO MAKE INVESTMENTS IN BUSINESS THAT BENEFIT LOW-INCOME PEOPLE AND COMM. · MA

• SUN INITIATIVE FINANCING LLC

  TO FINANCE THE OPERATIONS OF THE STABILIZING URBAN NEIGHBORHOODS INITIATIVE · MA · general or managing partner

• BCC SOLAR III LLC

  TO FACILITATE THE DELIVERY OF SOLAR ENERGY TO AFFORDABLE HOUSING PROJECTS · DE

• BCC NMTC CDE XXIV LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXVI LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXIX LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXI LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXII LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXIII LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXIV LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXX LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXVIII LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXV LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXVI LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXVII LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXXVIII LLC

  TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• BCC SOLAR ENERGY ADVANTAGE INC

  C · TO FACILITATE THE DELIVERY OF SOLAR ENERGY TO AFFORDABLE HOUSING PROJECTS · MA

• BCC NMTC CDE XXV LLC

  C · TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA

• BCC NMTC CDE XXVII LLC

  C · TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS · MA