← SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue: $1,941,688
Total expenses: $2,500,319
Contributions and grants received: $271,683
Grants paid: $0
Program service revenue: $1,669,548
Investment income: $0
Other revenue: $457
Total assets, end of year: $21,744,540
Total liabilities, end of year: $23,147,817
Net assets or fund balances, end of year: -$1,403,277
Program services expenses (Part IX): $2,309,879
Management and general expenses: $138,028
Fundraising expenses: $52,412
Program service expenses (Part III): $2,309,879

Program services were 92.4% 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.

1a · Federated campaigns

$66,865
1e · Government grants (contributions)

$38,438
1f · All other contributions, gifts and grants

$166,380
2a · Program service revenue: RENTAL INCOME

total $1,669,548 · related or exempt $1,669,548
11a · Other revenue: OTHER INCOME

total $457 · related or exempt $457
11e · Other revenue, total

$457

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $40,440 · program services $28,308 · management and general $8,088 · fundraising $4,044
7 · Other salaries and wages

total $118,303 · program services $73,456 · management and general $38,426 · fundraising $6,421
8 · Pension plan contributions

total $6,084 · program services $3,550 · management and general $2,090 · fundraising $444
9 · Other employee benefits

total $3,416 · program services $1,994 · management and general $1,172 · fundraising $250
10 · Payroll taxes

total $17,239 · program services $10,060 · management and general $5,921 · fundraising $1,258
11b · Fees: legal

total $8,482 · program services $8,451 · management and general $31
11c · Fees: accounting

total $75,073 · program services $32,178 · management and general $42,895
11g · Fees: other

total $220,552 · program services $161,369 · management and general $22,554 · fundraising $36,629
13 · Office expenses

total $14,689 · program services $8,739 · management and general $4,749 · fundraising $1,201
15 · Royalties

total $1,261,888 · program services $1,254,749 · management and general $5,264 · fundraising $1,875
22 · Depreciation, depletion and amortization

total $581,473 · program services $580,669 · management and general $804
23 · Insurance

total $11,034 · program services $7,481 · management and general $3,553
24a · Other expenses: MISCELLANEOUS

total $81,742 · program services $78,971 · management and general $2,481 · fundraising $290
24b · Other expenses: BAD DEBT

total $59,904 · program services $59,904

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $378,730 · end of year $405,244
2 · Savings and temporary cash investments

beginning of year $85,301 · end of year $106,186
4 · Accounts receivable

beginning of year $167,520 · end of year $325,874
9 · Prepaid expenses and deferred charges

beginning of year $16,133 · end of year $15,499
10a · Land, buildings and equipment: cost or other basis

$22,972,052
10b · Land, buildings and equipment: accumulated depreciation

$2,150,695
10c · Land, buildings and equipment, net

beginning of year $21,269,789 · end of year $20,821,357
15 · Other assets

beginning of year $70,380 · end of year $70,380
17 · Accounts payable and accrued expenses

beginning of year $469,238 · end of year $637,669
20 · Tax-exempt bond liabilities

beginning of year $1,510,045 · end of year $1,469,790
23 · Secured mortgages and notes payable

beginning of year $17,420,268 · end of year $21,016,072
24 · Unsecured notes and loans payable

beginning of year $3,432,948 · end of year $24,286
27 · Net assets without donor restrictions

beginning of year -$846,533 · end of year -$1,403,277
28 · Net assets with donor restrictions

beginning of year $1,887 · end of year $0

Mission and programs · 2023

Mission

THE SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION IS LED BY PRINCIPLES OF RACIAL EQUITY AND INCLUSION, TO ALLEVIATE SOCIAL AND ECONOMIC DISPARITIES THAT IMPACT PEOPLE'S QUALITY OF LIFE AND FUTURE OPPORTUNITIES. IT SHALL BE LED BY AND FOR RESIDENTS OF THE HYDE PARK, ROSLINDALE, MATTAPAN, DORCHESTER AND WEST ROXBURY. WE WILL DEVELOP AND PRESERVE HOUSING FOR LOW AND MODERATE-INCOME PEOPLE; PREVENT DISPLACEMENT OF NEIGHBORHOOD RESIDENTS, PARTICULARLY ELDERS AND THOSE OF LIMITED MEANS; AND STRENGTHEN THE COMMERCIAL BASE OF THE NEIGHBORHOOD. WE WILL WORK TO CREATE VIBRANT, STABLE AND HEALTHY NEIGHBORHOODS, THROUGH COMMUNITY ORGANIZING AND PROGRAMS FOCUSED ON HOUSING AND ECONOMIC DEVELOPMENT, ENVIRONMENTAL JUSTICE, AND RESIDENTIAL HEALTH AND THE ARTS THAT BRING LONG-TIME RESIDENTS AND NEWCOMERS OF ALL AGES AND DIVERSE BACKGROUNDS TOGETHER.

REAL ESTATE DEVELOPMENTSWBCDC DEVELOPS AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES IN THE BOSTON NEIGHBORHOODS OF HYDE PARK AND ROSLINDALE, IN ORDER TO HELP SUSTAIN AND PRESERVE NEIGHBORHOODS AND ADDRESS THE ONGOING HOUSING CRISIS IN BOSTON. THE ORGANIZATION HAS A PORTFOLIO OF 95 AFFORDABLE UNITS ACROSS BOTH NEIGHBORHOODS. THE CDC OWNS 8 TOWNHOMES IN ROSLINDALE THAT WERE ACQUIRED AND PRESERVED AS AFFORDABLE IN 2016 THROUGH THE CITY OF BOSTON DND ACQUISITION AND OPPORTUNITY PROGRAM. IN 2018 THE CDC COMPLETED CONSTRUCTION ON 27-UNITS OF CO-DEVELOPED TRANSIT ORIENTED APARTMENTS ON FAIRMOUNT AVE IN HYDE PARK. IN 2019-2020, THE CDC ACQUIRED 4 PROPERTIES IN HYDE PARK, TOTALLING 34 MORE UNITS OF LOW TO MODERATE INCOME HOUSING. IN 2022, THE CDC ACQUIRED 3 MORE PROPERTIES IN HYDE PARK AND ROSLINDALE, TOTALING A FURTHER 21 UNTS. SIX OF THESE UNITS ARE LEASED TO FAMILYAID FOR USE AS TRANSITIONAL HOUSING FOR PREVIOUSLY UNHOUSED FAMILIES. THE CDC HAS AGGRESSIVELY GROWN ITS REAL ESTATE.THE CDC IS CURRENTLY IN THE PRE-DEVELOPMENT PHASE OF A REFINANCING PROJECT FOR 8 OF OUR 9 PROPERTIES. THIS REFINANCING WILL PROTECT THE AFFORDABILITY OF THESE PROPERTIES, PAY FOR UPDATING OF THE BUILDINGS AND DECREASE THE CARBON USE IN THEIR SYSTEMS THROUGH LONGER-TERM, LOW-COST FINANCING.

Expenses $2,177,096 · Revenue $1,669,548
ENVIRONMENTAL STEWARDSHIP AND YOUTH EMPLOYMENTSWBCDC RUNS THE HYDE PARK GREEN TEAM. THROUGH THIS PROGRAM, THE ORGANIZATION HIRES BETWEEN 16 AND 25 YOUTH, AGES 14 - 23 TO PRESERVE AND RESTORE CITY-OWNED URBAN WILD SITES IN HYDE PARK. THIS PROGRAM IS CONDUCTED IN PARTNERSHIP WITH THE BOSTON PARKS DEPARTMENT, WHICH RELIES ON THE GREEN TEAM TO SUPPORT ITS GOALS FOR ITS NATURAL SITES IN HYDE PARK AND THE BOSTON DEPARTMENT OF YOUTH EMPLOYMENT AND ENGAGEMENT. THE PROGRAM ALSO INCLUDES TRAINING ON JOB READINESS, LEADERSHIP SKILLS, COMMUNITY OUTREACH, FINANCIAL LITERACY AND URBAN AGRICULTURE,LANDSCAPING, ENVIRONMENTAL STEWARDSHIP, WOODS SAFETY, AND JOBS IN THE ENVIRONMENTAL FIELD. THE PROGRAM RUNS EACH SUMMER.

Expenses $37,846
GREEN INITIATIVE - COMMUNITY ORGANIZINGWE ARE WORKING IN PART WITH THE FAIRMOUNT INDIGO CDC COLLABORATIVE TO ENGAGE AND EDUCATE COMMUNITY MEMBERS ABOUT THE THREATS OF CLIMATE CHANGE AND PREPARING MITIGATION STRATEGIES. OUR THREE YEAR IMPLEMENTATION PLAN IS FOCUSED ON IMPROVING ACCESS TO ENVIRONMENTALLYSUSTAINABLE AFFORDABLE HOUSING, GREEN JOBS AND GREEN INFRASTRUCTURE. CREATING URBAN TREE COVER AND GREEN SPACE WILL EMBED IN OUR NEIGHBORHOODS PROTECTIONS AGAINST NEGATIVE CLIMATE IMPACTS IN OUR NEIGHBORHOOD. WE ARE WORKING ON CHANGES IN STATE AND CITY POLICY THATWILL IMPROVE AND CREATE HEALTHIER COMMUNITIES. THE CDC ALSO WORKS ON PRESERVING AND PROTECTING GREEN SPACES. WE CONTINUE TO WORK WITH COMMUNITY MEMBERS, LOCAL GOVERNMENT, OTHER ORGANIZATIONS AND THE SOLOMON FOUNDATION ON A PATH ALONG THE NEPONSET RIVERBANK, AND ARE ACTIVE ON THE EPA'S COMMUNITY ADVISORY GROUP FOR THEIR SUPERFUND CLEAN-UP ALONG THE NEPONSET RIVER IN HYDE PARK.

Expenses $94,937 · Revenue $457

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Ellen CaraccioloELLEN CARACCIOLO

PRESIDENT AND TREASURER

Total calculated

$0

Hours/week

2
Diana KellyDIANA KELLY

VICE PRESIDENT

Total calculated

$0

Hours/week

1.5
Sarah LamitieSARAH LAMITIE

CLERK

Total calculated

$0

Hours/week

1.5
Mimi TurchinetzMIMI TURCHINETZ

BOARD MEMBER

Total calculated

$0

Hours/week

2
Sharon HintonSHARON HINTON

BOARD MEMBER

Total calculated

$0

Hours/week

1
Bob VanceBOB VANCE

BOARD MEMBER

Total calculated

$0

Hours/week

1
Alix CantaveALIX CANTAVE

BOARD MEMBER

Total calculated

$0

Hours/week

1
Janean MuhammadJANEAN MUHAMMAD

BOARD MEMBER

Total calculated

$0

Hours/week

1
Elizabeth ColumboELIZABETH COLUMBO

BOARD MEMBER

Total calculated

$0

Hours/week

1
Emyr RemyEMYR REMY

BOARD MEMBER

Total calculated

$0

Hours/week

1
Joseph OkaforJOSEPH OKAFOR

BOARD MEMBER

Total calculated

$0

Hours/week

1
Jay PagetJAY PAGET

BOARD MEMBER

Total calculated

$0

Hours/week

1
Adriana CilloADRIANA CILLO

BOARD MEMBER

Total calculated

$0

Hours/week

1
Amenata BotuAMENATA BOTU

BOARD MEMBER

Total calculated

$0

Hours/week

1
Raysa OrtizRAYSA ORTIZ

BOARD MEMBER

Total calculated

$0

Hours/week

1
Jeanne DuboisJEANNE DUBOIS

EXECUTIVE DIRECTOR

Total calculated

$40,440

From this org

$40,440

From related orgs

$0

Other

$0

Hours/week

30

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.

Grants on this return

No itemized grants to organizations on this return.

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.

Disregarded entities

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

875-889 ALH LLC

LOW INCOME HOUSING · MA · income $411,702 · assets $2,233,481

Directly controlled by SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION
SWBCDC HOMES LLC

LOW INCOME HOUSING · MA · income $1,010,493 · assets $16,078,190

Directly controlled by SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION
SWBCDC HOMES II LLC

LOW INCOME HOUSING · MA · income $247,353 · assets $3,551,813

Directly controlled by SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION

Related partnerships

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

RESIDENCES AT FAIRMOUNT STATION LLC

LOW INCOME HOUSING · MA

Related corporations and trusts

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

RESIDENCES AT FAIRMOUNT STATION MM LLC

C · LOW INCOME HOUSING · MA · 35% owned
SWBCDC FAIRMOUNT INC

C · LOW INCOME HOUSING · MA · 100% owned · share of income -$1,581 · controlled entity

Directly controlled by SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION

Provenance

Return type: form_990
Tax year: 2023
Filed: 5 November 2024
IRS schema version: 2023v5.1
Source object: 202403209349305805

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