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Nonprofiteer
← BCLF VENTURES INC

Form 990 for tax year 2024

Filed by BCLF VENTURES INC.

Totals

Total revenue
$6,374,260
Total expenses
$5,371,352
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,427,089
Investment income
$1,132,014
Other revenue
$815,157
Total assets, end of year
$81,992,387
Total liabilities, end of year
$49,435,189
Net assets or fund balances, end of year
$32,557,198
Program services expenses (Part IX)
$4,512,736
Management and general expenses
$858,616
Fundraising expenses
$0
Program service expenses (Part III)
$4,512,736

Program services were 84.0% 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 ON LOANS

    total $3,890,935 · related or exempt $3,890,935

  • 2b · Program service revenue: LOAN FEES

    total $510,347 · related or exempt $510,347

  • 2c · Program service revenue: MANAGEMENT FEES

    total $25,807 · related or exempt $25,807

  • 3 · Investment income

    total $1,051,922 · excluded $1,051,922

  • 7a · Gross sales of assets other than inventory

    other assets $169,475

  • 7b · Less cost or other basis and sales expenses

    other assets $89,383

  • 7c · Gain or loss

    other assets $80,092

  • 7d · Net gain or loss

    total $80,092 · excluded $80,092

  • 11a · Other revenue: CREDIT RECOVERY

    total $815,157 · related or exempt $815,157

  • 11e · Other revenue, total

    $815,157

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $494,284 · program services $449,799 · management and general $44,485

  • 7 · Other salaries and wages

    total $1,381,442 · program services $1,086,772 · management and general $294,670

  • 8 · Pension plan contributions

    total $17,282 · program services $17,239 · management and general $43

  • 9 · Other employee benefits

    total $209,059 · program services $134,637 · management and general $74,422

  • 10 · Payroll taxes

    total $92,074 · program services $69,473 · management and general $22,601

  • 11b · Fees: legal

    total $8,200 · program services $8,200

  • 11c · Fees: accounting

    total $63,265 · program services $40,300 · management and general $22,965

  • 11f · Fees: investment management

    total $2,881 · management and general $2,881

  • 11g · Fees: other

    total $257,601 · program services $114,778 · management and general $142,823

  • 12 · Advertising and promotion

    total $278,827 · program services $278,827

  • 13 · Office expenses

    total $109,376 · program services $52,766 · management and general $56,610

  • 16 · Occupancy

    total $87,411 · management and general $87,411

  • 17 · Travel

    total $23,232 · program services $6,706 · management and general $16,526

  • 19 · Conferences, conventions and meetings

    total $11,318 · program services $368 · management and general $10,950

  • 20 · Interest

    total $1,809,202 · program services $1,809,202

  • 22 · Depreciation, depletion and amortization

    total $20,623 · management and general $20,623

  • 23 · Insurance

    total $136,427 · program services $104,905 · management and general $31,522

  • 24a · Other expenses: REPORTING EXPENSE

    total $141,313 · program services $141,313

  • 24b · Other expenses: SHARE OF BCLF VENTURES

    total $122,832 · program services $122,832

  • 24c · Other expenses: STAFF DEVELOPMENT

    total $26,539 · program services $18,446 · management and general $8,093

  • 24d · Other expenses: FINANCING FEES

    total $25,735 · program services $25,735

  • 24e · All other expenses

    total $52,429 · program services $30,438 · management and general $21,991

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,163,133 · end of year $11,821,542

  • 2 · Savings and temporary cash investments

    beginning of year $2,466,620 · end of year $13,558,962

  • 4 · Accounts receivable

    beginning of year $1,225,452 · end of year $1,399,975

  • 9 · Prepaid expenses and deferred charges

    beginning of year $90,553 · end of year $90,286

  • 13 · Investments: program-related

    beginning of year $57,490,317 · end of year $55,121,622

  • 15 · Other assets

    beginning of year $89,383 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,024 · end of year $130,738

  • 23 · Secured mortgages and notes payable

    beginning of year $50,812,765 · end of year $49,281,274

  • 25 · Other liabilities

    beginning of year $116,379 · end of year $23,177

  • 27 · Net assets without donor restrictions

    beginning of year $31,554,290 · end of year $32,557,198

Mission and programs · 2024

Mission

COMMUNITY VENTURE CAPITAL

  • THE ORGANIZATION MANAGES EQUITY INVESTMENT FUNDS WHICH INVEST IN BOTH EMERGING AND EXISTING BUSINESSES THAT CREATE JOBS OR PROVIDE SERVICES FOR LOW-INCOME COMMUNITIES.

    Expenses $181,448 · Revenue $5,216,439

  • THE ORGANIZATION'S DISREGARDED ENTITY, AURA MORTGAGE ADVISORS, ACTS AS A MORTGAGE BROKER/LENDER FOR LOW-INCOME PEOPLE AND COMMUNITIES.

    Expenses $4,331,288 · Revenue $25,807

As filed on the 2024 return.

Listed in Part VII

  • Elyse Cherry

    CEO & EX-OFFICIO BOARD MEMBER

    Total calculated
    $1,212,119
    From this org
    $387,215
    From related orgs
    $580,822
    Other
    $244,082
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $190,257 + $285,386 related
    Bonus
    $128,000 + $192,000 related
    Other
    $68,958 + $103,436 related
    Deferred
    $81,206 + $151,994 related
    Nontaxable benefits
    $4,353 + $6,529 related
    Filer's total
    $472,774 + $739,345 related

  • Karen Kelleher

    PRES. LOAN FUND & EX-OFFICIO BOARD MEM.

    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

  • Charles Clark

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Reese Fayde

    VICE CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Sarah C Lincoln

    TREASURER OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Reverend James Walsh Sj

    CLERK OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Edward Dugger III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Julie Gould

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Maria Maffei

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Mercedes Tompkins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Victor R Rivera

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Lisa Zappala

    EVP, CFO (UNTIL 9/2024)

    Total calculated
    $514,083
    From this org
    $86,443
    From related orgs
    $345,776
    Other
    $81,864
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $55,769 + $223,078 related
    Bonus
    $16,000 + $64,000 related
    Other
    $14,674 + $58,698 related
    Deferred
    $13,550 + $42,568 related
    Nontaxable benefits
    $5,149 + $20,597 related
    Filer's total
    $105,142 + $408,941 related

  • Dewitt 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
    $9,826 + $39,956 related
    Nontaxable benefits
    $0 + $49,984 related
    Filer's total
    $9,826 + $340,155 related

  • Jacquelyn 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 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 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 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

  • E Matthew Gautieri

    SVP, CONTROLLER

    Total calculated
    $296,333
    From this org
    $35,630
    From related orgs
    $201,904
    Other
    $58,799
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $32,330 + $183,204 related
    Bonus
    $3,300 + $18,700 related
    Other
    $0
    Deferred
    $2,242 + $12,704 related
    Nontaxable benefits
    $6,578 + $37,275 related
    Filer's total
    $44,450 + $251,883 related

  • Arunabha 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

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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 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.

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.

  • AURA MORTGAGE ADVISORS LLC

    MORTGAGE BROKER/LENDER FOR LOW-INCOME PEOPLE & COMMUNITIES · MA · income $4,465,718 · assets $80,011,305

    Directly controlled by BCLF VENTURES INC

  • AURA DIRECT FINANCING LLC

    MORTGAGE BROKER/LENDER FOR LOW-INCOME PEOPLE & COMMUNITIES · MA · income $0 · assets $0

    Directly controlled by BCLF VENTURES INC

Related partnerships

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

  • BCLF VENTURES II LLC

    RELATED · TO MAKE INVESTMENTS IN BUSINESS THAT BENEFIT LOW-INCOME PEOPLE AND COMM. · MA · 10% owned · share of income $6,775 · share of assets $191,774 · general or managing partner

    Directly controlled by BCLF VENTURES INC

  • 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 XXVIII 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

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

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543209349301214

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