Form 990 for tax year 2023
Filed by DORCHESTER BAY NIEGHBORHOOD LOAN FUND INC.
Totals
- Total revenue
- $2,680,816
- Total expenses
- $2,689,280
- Contributions and grants received
- $2,500,588
- Grants paid
- $113,400
- Program service revenue
- $149,898
- Investment income
- $1,474
- Other revenue
- $28,856
- Total assets, end of year
- $2,731,263
- Total liabilities, end of year
- $1,631,378
- Net assets or fund balances, end of year
- $1,099,885
- Program services expenses (Part IX)
- $1,685,252
- Management and general expenses
- $1,004,028
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,685,252
Program services were 62.7% 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.
-
1d · Related organizations
$2,387,871
-
1e · Government grants (contributions)
$112,717
-
2a · Program service revenue: NOTE INTEREST
total $104,442 · related or exempt $104,442
-
2b · Program service revenue: PROGRAM SERVICE FEES
total $45,456 · related or exempt $45,456
-
3 · Investment income
total $1,474 · excluded $1,474
-
11a · Other revenue: MISCELLANEOUS
total $28,856 · related or exempt $28,856
-
11e · Other revenue, total
$28,856
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $113,400 · program services $113,400
-
11a · Fees: management
total $863,723 · program services $863,723
-
11b · Fees: legal
total $450 · program services $450
-
11g · Fees: other
total $58,588 · program services $58,588
-
13 · Office expenses
total $11,628 · program services $11,628
-
20 · Interest
total $76,326 · program services $76,326
-
21 · Payments to affiliates
total $66,131 · program services $66,131
-
23 · Insurance
total $7,079 · program services $7,079
-
24a · Other expenses: GENERAL AND ADMINISTRAT
total $1,004,028 · management and general $1,004,028
-
24b · Other expenses: MISCELLANEOUS
total $286,296 · program services $286,296
-
24c · Other expenses: BAD DEBT EXPENSE
total $179,015 · program services $179,015
-
24d · Other expenses: DUES/SUBSCRIPTIONS
total $22,616 · program services $22,616
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $43,122
-
2 · Savings and temporary cash investments
beginning of year $16,843 · end of year $7,504
-
3 · Pledges and grants receivable
beginning of year $299,940 · end of year $154,967
-
13 · Investments: program-related
beginning of year $718,646 · end of year $1,864,179
-
15 · Other assets
beginning of year $889,049 · end of year $704,613
-
17 · Accounts payable and accrued expenses
end of year $9,343
-
23 · Secured mortgages and notes payable
beginning of year $463,191 · end of year $367,454
-
25 · Other liabilities
beginning of year $528,018 · end of year $1,254,581
-
27 · Net assets without donor restrictions
beginning of year $670,749 · end of year $1,099,885
-
28 · Net assets with donor restrictions
beginning of year $305,642 · end of year $0
Mission and programs · 2023
Mission
LENDING SERVICES FOR LOW-INCOME PROJECTS.
-
DB NEIGHBORHOOD LOAN FUND (DBNLF): LOAN PROGRAMS PROVIDE ONE-ON-ONE PRE-LOAN AND POST-LOAN TECHNICAL ASSISTANCE TO SMALL BUSINESS ENTREPRENEURS AND BORROWERS. THE BUSINESS LOAN FUND OFFERS DIRECT LOANS FROM $500 TO $50,000 (BOTH DBNLF CAPITAL AND SBA LOANS). DBEDC (SEE SCHEDULE R) IS THE ONLY BOSTON AREA CDC TO MAKE DIRECT LOANS TO SMALL BUSINESSES. DBNLF'S TWO-PRONGED STRATEGIES OF DEVELOPING COMMERCIAL REAL ESTATE AND LENDING TO BUSINESSES REINFORCE EACH OTHER BY CREATING PHYSICAL SPACES FOR BUSINESS AND ALSO STRENGTHENING INTERNAL BUSINESS CAPACITY. COMMERCIAL REVITALIZATION IS GIVING NEW LIFE TO THE COMMERCIAL DISTRICTS IN OUR AREA. WE HAVE COMPLETED LOANS TO A WIDE ARRAY OF DIFFERENT TYPES OF BUSINESSES.
Expenses $1,685,252 · Grants $113,400 · Revenue $178,754
As filed on the 2023 return.
Listed in Part VII
-
Paul BlackPAUL BLACK
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Leighton RichardsonLEIGHTON RICHARDSON
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Brian WelchBRIAN WELCH
TREASURER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Lorraine Payne WheelerLORRAINE PAYNE WHEELER
CLERK
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Phil HillmanPHIL HILLMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Mary WalkerMARY WALKER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Eileen KennerEILEEN KENNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Rosalyn JohnsonROSALYN JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
An DuongAN DUONG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Ricky OchiloRICKY OCHILO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Derrick BellingerDERRICK BELLINGER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Kristen HalbertKRISTEN HALBERT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Najah WallaceNAJAH WALLACE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Jose PerezJOSE PEREZ
BOARD MEMBER (UNTIL 1/2023)
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Maria AndradeMARIA ANDRADE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Daryl WrightDARYL WRIGHT
BOARD MEMBER (UNTIL 12/2023)
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Kimberly LyleKIMBERLY LYLE
CHIEF EXECUTIVE OFFICER
- Total calculated
- $239,784
- From this org
- $0
- From related orgs
- $200,000
- Other
- $39,784
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $200,000 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $10,000 related
- Nontaxable benefits
- $0 + $29,784 related
- Filer's total
- $0 + $239,784 related
-
David SimmonsDAVID SIMMONS
DIR.OF FINANCE & ADMIN(UNTIL 9/23)
- Total calculated
- $252,923
- From this org
- $0
- From related orgs
- $201,634
- Other
- $51,289
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $201,634 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $8,103 related
- Nontaxable benefits
- $0 + $43,186 related
- Filer's total
- $0 + $252,923 related
-
Susan ChuSUSAN CHU
DIRECTOR OF REAL ESTATE
- Total calculated
- $188,595
- From this org
- $0
- From related orgs
- $154,833
- Other
- $33,762
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $154,833 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $7,742 related
- Nontaxable benefits
- $0 + $26,020 related
- Filer's total
- $0 + $188,595 related
-
Paola Pelletier OzunaPAOLA PELLETIER OZUNA
CHIEF OF STAFF
- Total calculated
- $189,528
- From this org
- $0
- From related orgs
- $145,308
- Other
- $44,220
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $145,308 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $7,265 related
- Nontaxable benefits
- $0 + $36,955 related
- Filer's total
- $0 + $189,528 related
-
William RiordanWILLIAM RIORDAN
ACCOUNTING MANAGER
- Total calculated
- $178,100
- From this org
- $0
- From related orgs
- $128,100
- Other
- $50,000
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $128,100 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $6,405 related
- Nontaxable benefits
- $0 + $43,595 related
- Filer's total
- $0 + $178,100 related
-
Reginauld WilliamsREGINAULD WILLIAMS
DIRECTOR OF SMALL BUSINESS
- Total calculated
- $135,809
- From this org
- $0
- From related orgs
- $109,322
- Other
- $26,487
- Hours/week
- 9.35 + 28.15 related
-
Samariah Batts-SpellerSAMARIAH BATTS-SPELLER
DIRECTOR OF PEOPLE & CULTURE
- Total calculated
- $183,827
- From this org
- $0
- From related orgs
- $156,750
- Other
- $27,077
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $156,750 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $7,838 related
- Nontaxable benefits
- $0 + $19,239 related
- Filer's total
- $0 + $183,827 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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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 HUMAN RESOURCE DIRECTOR OF DORCHESTER BAY ECONOMIC DEVELOPMENT CORPORATION USES MARKET DATA FROM RELEVANT PERSONNEL ALONG WITH INPUTS FROM OTHER COMPENSATION SPECIALISTS.
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
-
UPHAMS CORNER MAIN STREET
$15,000
SMALL BUSINESS ASSISTANCE
-
BLACK OWNED BOS LLC
$10,000
SMALL BUSINESS ASSISTANCE
-
THE TEA SPA
$10,000
SMALL BUSINESS ASSISTANCE
-
CHARLES ADVISORY GROUP LLC
$10,000
SMALL BUSINESS ASSISTANCE
-
EAST COAST GAMING LLC
$10,000
SMALL BUSINESS ASSISTANCE
-
GENELYS FAMILY CHILD CARE
$10,000
SMALL BUSINESS ASSISTANCE
-
CLASIC WINDOW SPECIALISTS
$7,500
SMALL BUSINESS ASSISTANCE
-
TOP WASH INC
$7,500
SMALL BUSINESS ASSISTANCE
-
JAMACIA MI HUNGRY
$7,500
SMALL BUSINESS ASSISTANCE
-
LAZY BEAR CREAMARY
$7,500
SMALL BUSINESS ASSISTANCE
The 10 largest by cash amount. The API serves every itemized grant.
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.
-
DORCHESTER BAY ECONOMIC DEVELOPMENT CORP
501(C)(3) · AFFORDABLE HOMES, COMMUNITY DEVELOPMENT · MA
Directly controlled by DORCHESTER BAY ECONOMIC DEVELOPMENT CORP
-
501(C)(3) · LOW INCOME HOUSING DEVELOPMENT · MA
Directly controlled by DORCHESTER BAY ECONOMIC DEVELOPMENT CORP
-
BOSTON HOMEOWNER SERVICES COLLABORATIVE
501(C)(3) · LENDING SERIVCES FOR LOW-INCOME PROJECTS · MA
Directly controlled by DORCHESTER BAY ECONOMIC DEVELOPMENT CORP
-
501(C)(3) · LOW INCOME HOUSING DEVELOPMENT · MA
Directly controlled by DORCHESTER BAY ECONOMIC DEVELOPMENT CORP
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
150 MAGNOLIA LP
N/A · OWNS 25 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
BRUNSWICK HOLBORN TWO LP
N/A · OWNS 49 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
CEYLON FIELD LP
N/A · OWNS 62 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
COLUMBIA WOOD TWO LP
N/A · OWNS 49 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
COTTAGE BROOK APARTMENTS LP
N/A · OWNS 147 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
COTTAGE BROOK HOUSING LP
N/A · RESIDENTIAL REAL ESTATE · MA
-
DB UPHAMS LP
N/A · OWNS 36 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
DUDLEY VILLAGE NORTH COMMERCIAL LLC
N/A · COMMERCIAL REAL ESTATE · MA
-
DUDLEY VILLAGE NORTH LP
N/A · OWNS 24 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
DUDLEY VILLAGE SOUTH LP
N/A · OWNS 26 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
GENEVA APARTMENTS LLC
N/A · RESIDENTIAL REAL ESTATE · MA
-
GLENDALE ASSOCIATES LIMITED PARTNERSHIP
N/A · OWNS 134 UNITS OF RESIDENTIAL PROPERTY IN DORCHESTER · MA
-
QUINCY HEIGHTS LP
N/A · RESIDENTIAL REAL ESTATE · MA
-
WILDER GARDENS LP
N/A · OWNS 61 UNITS OF RESIDENTIAL REAL PROPERTY · MA
-
DB PIERCE LLC
N/A · COMMERCIAL REAL ESTATE · MA
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
150 MAGNOLIA CORP
C · PROJECT DEVELOPMENT · MA
-
BRUNSWICK HOLBORN HOUSING INC
C · PROJECT DEVELOPMENT · MA
-
CEYLON FIELD INC
C · PROJECT DEVELOPMENT · MA
-
COLUMBIA WOOD HOUSING INC
C · PROJECT DEVELOPMENT · MA
-
DB COTTAGE BROOK INC
C · PROJECT DEVELOPMENT · MA
-
DB INDUSTRIAL INC
C · PROJECT DEVELOPMENT · MA
-
DB UPHAMS INC
C · PROJECT DEVELOPMENT · MA
-
DBCB HOUSING INC
C · PROJECT DEVELOPMENT · MA
-
DORCHESTER BAY DEVELOPMENT CORPORATION
C · PROJECT DEVELOPMENT · MA
-
DV NORTH HOUSING INC
C · PROJECT DEVELOPMENT · MA
-
DV SOUTH HOUSING INC
C · PROJECT DEVELOPMENT · MA
-
GLENDALE PROPERTIES INC
C · PROJECT DEVELOPMENT · MA
-
QHI HOUSING INC
C · PROJECT DEVELOPMENT · MA
-
WILDER GARDENS INC
C · PROJECT DEVELOPMENT · MA
-
LEYLAND SENIOR HOUSING MANAGER LLC
C · PROJECT DEVELOPMENT · MA
-
DB PIERCE MM LLC
C · PROJECT DEVELOPMENT · MA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413209349302366
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