Totals
- Total revenue
- $65,994
- Total expenses
- $3,073,061
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $65,994
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $1,551,368
- Total liabilities, end of year
- $502,249
- Net assets or fund balances, end of year
- $1,049,119
- Program services expenses (Part IX)
- $2,773,061
- Management and general expenses
- $300,000
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,773,061
Program services were 90.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: INTEREST AND LOAN FEES
total $48,581 · related or exempt $48,581
-
2b · Program service revenue: PROGRAM REVENUE
total $17,413 · related or exempt $17,413
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,006,929 · program services $891,319 · management and general $115,610
-
8 · Pension plan contributions
total $57,664 · program services $48,666 · management and general $8,998
-
9 · Other employee benefits
total $117,528 · program services $97,132 · management and general $20,396
-
10 · Payroll taxes
total $72,105 · program services $64,182 · management and general $7,923
-
11b · Fees: legal
total $86,424 · program services $86,424
-
11c · Fees: accounting
total $18,801 · program services $10,750 · management and general $8,051
-
12 · Advertising and promotion
total $564,771 · program services $564,771
-
13 · Office expenses
total $48,786 · program services $24,203 · management and general $24,583
-
14 · Information technology
total $384,581 · program services $340,351 · management and general $44,230
-
16 · Occupancy
total $31,142 · program services $498 · management and general $30,644
-
17 · Travel
total $44,675 · program services $38,882 · management and general $5,793
-
20 · Interest
total $4,783 · program services $4,783
-
23 · Insurance
total $11,051 · management and general $11,051
-
24a · Other expenses: CREDIT LOSS PROVISION
total $450,728 · program services $450,728
-
24b · Other expenses: MISCELLANEOUS EXPENSES
total $173,093 · program services $150,372 · management and general $22,721
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $356,004 · end of year $649,282
-
7 · Other notes and loans receivable
beginning of year $363,676 · end of year $775,943
-
9 · Prepaid expenses and deferred charges
beginning of year $78,789 · end of year $126,143
-
17 · Accounts payable and accrued expenses
beginning of year $5,905 · end of year $11,188
-
23 · Secured mortgages and notes payable
beginning of year $125,000 · end of year $400,000
-
25 · Other liabilities
beginning of year $111,378 · end of year $91,061
-
27 · Net assets without donor restrictions
beginning of year $556,186 · end of year $1,049,119
Mission and programs · 2024
Mission
BUILD AN INCLUSIVE FUTURE FOR AMERICA BY DRIVING DOWN THE COST OF FINANCING U.S. CITIZENSHIP FEES FOR MILLIONS OF NEW AMERICANS.
-
BUILD AN INCLUSIVE FUTURE FOR AMERICA BY DRIVING DOWN THE COST OF FINANCING U.S. CITIZENSHIP FEES FOR MILLIONS OF NEW AMERICANS.
Expenses $2,773,061 · Revenue $65,994
As filed on the 2024 return.
Listed in Part VII
-
Elyse CherryELYSE CHERRY
CEO & EX-OFFICIO BOARD MEMBER
- Total calculated
- $1,212,119
- From this org
- $0
- From related orgs
- $968,037
- Other
- $244,082
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $475,643 related
- Bonus
- $0 + $320,000 related
- Other
- $0 + $172,394 related
- Deferred
- $0 + $233,200 related
- Nontaxable benefits
- $0 + $10,882 related
- Filer's total
- $0 + $1,212,119 related
-
Lisa ZappalaLISA ZAPPALA
EVP, CFO, TREASURER (UNTIL 9/2024)
- Total calculated
- $514,083
- From this org
- $0
- From related orgs
- $432,219
- Other
- $81,864
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $278,847 related
- Bonus
- $0 + $80,000 related
- Other
- $0 + $73,372 related
- Deferred
- $0 + $56,118 related
- Nontaxable benefits
- $0 + $25,746 related
- Filer's total
- $0 + $514,083 related
-
E Matthew GautieriE MATTHEW GAUTIERI
SVP, CONTROLLER, CLERK
- Total calculated
- $296,333
- From this org
- $0
- From related orgs
- $237,534
- Other
- $58,799
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $215,534 related
- Bonus
- $0 + $22,000 related
- Other
- $0
- Deferred
- $0 + $14,946 related
- Nontaxable benefits
- $0 + $43,853 related
- Filer's total
- $0 + $296,333 related
-
Karen KelleherKAREN KELLEHER
PRESIDENT, BLUEHUB LOAN FUND
- Total calculated
- $343,483
- From this org
- $0
- From related orgs
- $305,695
- Other
- $37,788
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $275,695 related
- Bonus
- $0 + $30,000 related
- Other
- $0
- Deferred
- $0 + $18,540 related
- Nontaxable benefits
- $0 + $19,248 related
- Filer's total
- $0 + $343,483 related
-
Dewitt JonesDEWITT JONES
PRESIDENT, BLUEHUB ENERGY
- Total calculated
- $349,981
- From this org
- $0
- From related orgs
- $250,215
- Other
- $99,766
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $79,752 related
- Bonus
- $0 + $100,000 related
- Other
- $0 + $70,463 related
- Deferred
- $0 + $49,782 related
- Nontaxable benefits
- $0 + $49,984 related
- Filer's total
- $0 + $349,981 related
-
Jacquelyn Barry HamiltonJACQUELYN BARRY HAMILTON
CFO (AS OF 9/2024)
- Total calculated
- $95,286
- From this org
- $0
- From related orgs
- $85,077
- Other
- $10,209
- Hours/week
- 0 + 40 related
-
Brenda LoyaBRENDA LOYA
CHIEF OPERATING OFFICER
- Total calculated
- $313,181
- From this org
- $0
- From related orgs
- $271,892
- Other
- $41,289
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $246,892 related
- Bonus
- $0 + $25,000 related
- Other
- $0
- Deferred
- $0 + $16,235 related
- Nontaxable benefits
- $0 + $25,054 related
- Filer's total
- $0 + $313,181 related
-
Michael NillesMICHAEL NILLES
SVP,COMMERCIAL LENDING, TEAM LEADER
- Total calculated
- $308,290
- From this org
- $0
- From related orgs
- $269,026
- Other
- $39,264
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $229,026 related
- Bonus
- $0 + $40,000 related
- Other
- $0
- Deferred
- $0 + $14,898 related
- Nontaxable benefits
- $0 + $24,366 related
- Filer's total
- $0 + $308,290 related
-
Lubna EliaLUBNA ELIA
CHIEF ADMINISTRATIVE OFFICER
- Total calculated
- $282,640
- From this org
- $0
- From related orgs
- $265,600
- Other
- $17,040
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $225,600 related
- Bonus
- $0 + $40,000 related
- Other
- $0
- Deferred
- $0 + $15,216 related
- Nontaxable benefits
- $0 + $1,824 related
- Filer's total
- $0 + $282,640 related
-
Arunabha ChakravartyARUNABHA CHAKRAVARTY
SVP, PORTFOLIO MANAGEMENT
- Total calculated
- $254,459
- From this org
- $0
- From related orgs
- $223,208
- Other
- $31,251
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $198,208 related
- Bonus
- $0 + $25,000 related
- Other
- $0
- Deferred
- $0 + $12,792 related
- Nontaxable benefits
- $0 + $18,459 related
- Filer's total
- $0 + $254,459 related
-
Andrew KohANDREW KOH
SVP, OPERATIONS
- Total calculated
- $248,185
- From this org
- $0
- From related orgs
- $205,941
- Other
- $42,244
- Hours/week
- 0 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $187,941 related
- Bonus
- $0 + $18,000 related
- Other
- $0
- Deferred
- $0 + $13,530 related
- Nontaxable benefits
- $0 + $28,714 related
- Filer's total
- $0 + $248,185 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE CEO'S SALARY IS PAID BY RELATED ORGANIZATIONS. EVERY FEW YEARS, A SALARY SURVEY OF THE INDUSTRY IS PERFORMED TO ENSURE THAT THE ORGANIZATION'S SALARY EXPENSES ARE REASONABLE. THE EXECUTIVE COMMITTEE OF THE BOARD MEETS TO SET THE SALARY RANGES FOR ALL POSITIONS AND TO APPROVE THE CEO'S COMPENSATION FOR THE YEAR. THE EXECUTIVE COMMITTEE KEEPS MINUTES OF EACH MEETING.
- 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.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · HOLDING COMPANY FOR AFFILIATES THAT PROVIDE CAPITAL AND COMMUNITY LENDING. · MA
-
501(C)(3) · COMMUNITY VENTURE CAPITAL · MA
Directly controlled by BLUEHUB CAPITAL INC
-
501(C)(3) · DEVELOPS NEW BUSINESS INITIATIVES AND FUNDING VEHICLES FOR LOW INCOME · MA
Directly controlled by BLUEHUB CAPITAL INC
-
501(C)(3) · COMMUNITY LENDING · MA
Directly controlled by BLUEHUB CAPITAL INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523209349300377
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