Form 990 for tax year 2024
Filed by DORCHESTER BAY NIEGHBORHOOD LOAN FUND INC.
Totals
- Total revenue
- $1,845,545
- Total expenses
- $2,215,844
- Contributions and grants received
- $1,697,944
- Grants paid
- $205,000
- Program service revenue
- $140,964
- Investment income
- $3,017
- Other revenue
- $3,620
- Total assets, end of year
- $3,085,359
- Total liabilities, end of year
- $2,355,773
- Net assets or fund balances, end of year
- $729,586
- Program services expenses (Part IX)
- $1,614,295
- Management and general expenses
- $601,549
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,614,295
Program services were 72.9% 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
$1,226,906
-
1e · Government grants (contributions)
$346,039
-
1f · All other contributions, gifts and grants
$124,999
-
2a · Program service revenue: NOTE INTEREST
total $122,464 · related or exempt $122,464
-
2b · Program service revenue: PROGRAM SERVICE FEES
total $18,500 · related or exempt $18,500
-
3 · Investment income
total $3,017 · excluded $3,017
-
11a · Other revenue: MISCELLANEOUS
total $3,620 · related or exempt $3,620
-
11e · Other revenue, total
$3,620
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $70,000 · program services $70,000
-
2 · Grants to domestic individuals
total $135,000 · program services $135,000
-
11a · Fees: management
total $844,898 · program services $844,898
-
11b · Fees: legal
total $4,977 · program services $4,977
-
11c · Fees: accounting
total $17,827 · program services $17,827
-
11g · Fees: other
total $30,001 · program services $30,001
-
12 · Advertising and promotion
total $41,344 · program services $41,344
-
13 · Office expenses
total $15,510 · program services $15,510
-
17 · Travel
total $2,873 · program services $2,873
-
19 · Conferences, conventions and meetings
total $1,219 · program services $1,219
-
20 · Interest
total $42,159 · program services $42,159
-
23 · Insurance
total $1,899 · program services $1,899
-
24a · Other expenses: GENERAL AND ADMINISTRAT
total $601,549 · management and general $601,549
-
24b · Other expenses: BAD DEBT EXPENSE
total $359,291 · program services $359,291
-
24c · Other expenses: MISCELLANEOUS
total $45,876 · program services $45,876
-
24d · Other expenses: DUES/SUBSCRIPTIONS
total $1,421 · program services $1,421
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $7,504 · end of year $7,872
-
3 · Pledges and grants receivable
beginning of year $154,967 · end of year $172,562
-
9 · Prepaid expenses and deferred charges
end of year $1,042
-
13 · Investments: program-related
beginning of year $1,864,179 · end of year $1,631,734
-
15 · Other assets
beginning of year $704,613 · end of year $1,272,149
-
17 · Accounts payable and accrued expenses
beginning of year $9,343 · end of year $58,288
-
23 · Secured mortgages and notes payable
beginning of year $367,454 · end of year $826,773
-
25 · Other liabilities
beginning of year $1,254,581 · end of year $1,470,712
-
27 · Net assets without donor restrictions
beginning of year $1,099,885 · end of year $646,253
-
28 · Net assets with donor restrictions
end of year $83,333
Mission and programs · 2024
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 $1,614,295 · Grants $205,000 · Revenue $144,584
As filed on the 2024 return.
Listed in Part VII
-
Paul BlackPAUL BLACK
PRESIDENT (UNTIL 4/24)
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Leighton RichardsonLEIGHTON RICHARDSON
VICE PRES. (UNTIL 4/24)/ PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Najah WallaceNAJAH WALLACE
VICE PRES. (AS OF 4/24)
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Brian WelchBRIAN WELCH
TREASURER
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 related
-
Lorraine Payne WheelerLORRAINE PAYNE WHEELER
CLERK
- Total calculated
- $0
- Hours/week
- 0.62 + 2.13 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
-
Kristen HalbertKRISTEN HALBERT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Angela YardeANGELA YARDE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Damaris AmachreeDAMARIS AMACHREE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Derrick BellingerDERRICK BELLINGER
BOARD MEMBER (UNTIL 4/24)
- Total calculated
- $0
- Hours/week
- 0.62 + 1.88 related
-
Kimberly LyleKIMBERLY LYLE
CHIEF EXECUTIVE OFFICER
- Total calculated
- $284,712
- From this org
- $0
- From related orgs
- $240,750
- Other
- $43,962
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $230,750 related
- Bonus
- $0 + $10,000 related
- Other
- $0
- Deferred
- $0 + $12,037 related
- Nontaxable benefits
- $0 + $31,925 related
- Filer's total
- $0 + $284,712 related
-
Sharat Anant SomashekaraSHARAT ANANT SOMASHEKARA
DIRECTOR OF FINANCE
- Total calculated
- $148,466
- From this org
- $0
- From related orgs
- $122,417
- Other
- $26,049
- Hours/week
- 9.35 + 28.15 related
-
Susan ChuSUSAN CHU
DIRECTOR OF REAL ESTATE DEVELOPMENT
- Total calculated
- $218,499
- From this org
- $0
- From related orgs
- $181,003
- Other
- $37,496
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $177,003 related
- Bonus
- $0 + $4,000 related
- Other
- $0
- Deferred
- $0 + $9,050 related
- Nontaxable benefits
- $0 + $28,446 related
- Filer's total
- $0 + $218,499 related
-
Samariah Batts-SpellerSAMARIAH BATTS-SPELLER
DIRECTOR OF PEOPLE & CULTURE
- Total calculated
- $194,138
- From this org
- $0
- From related orgs
- $166,041
- Other
- $28,097
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $164,041 related
- Bonus
- $0 + $2,000 related
- Other
- $0
- Deferred
- $0 + $8,302 related
- Nontaxable benefits
- $0 + $19,795 related
- Filer's total
- $0 + $194,138 related
-
William RiordanWILLIAM RIORDAN
ACCOUNTING MANAGER
- Total calculated
- $186,822
- From this org
- $0
- From related orgs
- $133,700
- Other
- $53,122
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $127,500 related
- Bonus
- $0 + $6,200 related
- Other
- $0
- Deferred
- $0 + $6,685 related
- Nontaxable benefits
- $0 + $46,437 related
- Filer's total
- $0 + $186,822 related
-
Shermaine ThompsonSHERMAINE THOMPSON
ASSOCIATE DIRECTOR OF ACCOUNTING
- Total calculated
- $179,199
- From this org
- $0
- From related orgs
- $146,589
- Other
- $32,610
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $138,389 related
- Bonus
- $0 + $8,200 related
- Other
- $0
- Deferred
- $0 + $7,329 related
- Nontaxable benefits
- $0 + $25,281 related
- Filer's total
- $0 + $179,199 related
-
Brenda Guerra SeguraBRENDA GUERRA SEGURA
CREDIT OFFICER / PORTFOLIO MANAGER
- Total calculated
- $170,632
- From this org
- $0
- From related orgs
- $135,960
- Other
- $34,672
- Hours/week
- 9.35 + 28.15 related
Schedule J breakdown matched by us
- Base
- $0 + $129,960 related
- Bonus
- $0 + $6,000 related
- Other
- $0
- Deferred
- $0 + $6,798 related
- Nontaxable benefits
- $0 + $27,874 related
- Filer's total
- $0 + $170,632 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
- ALL COMPENSATION IS PAID BY RELATED ORGANIZATION DORCHESTER BAY ECONOMIC DEVELOPMENT CORPORATION. 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
-
JUST BOOK-ISH
$20,000
SMALL BUSINESS ASSISTANCE
-
BELDO'S LANDSCAPING & SNOW REMOVAL
$10,000
SMALL BUSINESS ASSISTANCE
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
-
INDIGO BLOCKER LLC
C · PROJECT DEVELOPMENT · MA
-
DB DUDLEY TERRACE MM LLC
C · PROJECT DEVELOPMENT · MA
-
INDIGO APARTMENTS MM LLC
C · PROJECT DEVELOPMENT · MA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 21 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202512979349300141
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