BOSTON LOCAL DEVELOPMENT CORPORATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

JOHN E MARSTON

Phone

6179185425

Tax Period

2022-07-01 to 2023-06-30

BOSTON LOCAL DEVELOPMENT CORPORATION, founded in 1979, is a community nonprofit in the Community Improvement sector that reported $2.0M in total revenue in fiscal year 2022. Revenue surged 43% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 69% operating margin.

Mission

TO BENEFIT THE COMMUNITY BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR THE CITIZENS OF THE CITY OF BOSTON. BLDC ACCOMPLISHES THIS BY PROVIDING LONG-TERM FINANCING TO FIRMS AND COMPANIES LOCATED IN THE CITY OF BOSTON, MASSACHUSETTS.

Program Service Accomplishments

Program 1

Expenses: $274,572 Revenue: $96,423

BLDC SUBCONTRACTS WITH ITS AFFILIATE, EDIC, TO ADMINISTER A REVOLVING LOAN FUND TO PROMOTE INDUSTRIAL AND ECONOMIC DEVELOPMENT AND JOB GROWTH. 31 REVOLVING LOANS WERE SERVICED IN FISCAL YEAR 2023.

Program 2

Expenses: $63,150

EARNED INCOME TAX CREDIT PROGRAM - VOLUNTEER INCOME TAX ASSISTANCE (VITA) COMMUNITY-BASED PROGRAM THAT HAS LED THE TAX EQUITY FIELD IN BOSTON FOR 20 YEARS. THE PROGRAM PROVIDES FREE, HIGH-QUALITY TAX PREPARATION AND ASSET BUILDING SERVICES IN EIGHT LANGUAGES TO APPROXIMATELY 10,642 LOW AND MODERATE-INCOME TAXPAYERS IN BOSTON ANNUALLY.

Program 3

Expenses: $86,040

FINANCIAL OPPORTUNITY CENTER - PROGRAM WHICH IS PROVIDED TO LOW-TO MODERATE-INCOME RESIDENTS BY PROVIDING CAREER SERVICES, TO HELP RESIDENTS START ON A PATHWAY THAT LEADS TO EMPLOYMENT OPPORTUNITIES THAT PAY LIVING WAGES, AND INDIVIDUALIZED FINANCIAL COACHING, WHICH BEGINS WITH A BUDGET AND GOAL FOR THE FUTURE, INCORPORATING SAVINGS AND ASSET BUILDING. THIS FREE COACHING TAKES PLACE IN ONE-ON-ONE MEETINGS OVER 18-24 MONTHS. THIS PROGRAM SUPPORTED APPROXIMATELY 354 RESIDENTS IN FISCAL YEAR 2023. CREDIT BUILDING PROGRAMMING. EARLY CHILDHOOD LITERACY, AND CHILDREN'S SAVINGS ACCOUNTS ARE ALSO KEY COMPONENTS OF THE SERVICES PROVIDED BY THE CENTER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,870,476

Program Service Revenue $90,862

Investment Income $4,794

Other Revenue $5,561

TOTAL REVENUE $1,971,693

Expense Breakdown

Grants Paid $276,815

Salaries & Benefits $223,572

Fundraising Expenses $0

Program Expenses $551,387

Other Expenses $115,205

TOTAL EXPENSES $615,592

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,971,693	$1,383,525	+0.4%
Expenses	$615,592	$1,013,356	-0.4%
Net Income	$1,356,101	$370,169	+2.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

322

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$697,803

Total Directors

$53,375

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN E MARSTON	PRESIDENT	2.00	Officer Director	$0	$0	$0
E RENEE LEFEVRE	VICE PRESIDENT	2.00	Officer Director	$0	$0	$53,375
MICHAEL F BURKE ESQ	TRUSTEE	1.00	Director	$0	$0	$0
FRANK L DAVIS III	TRUSTEE	1.00	Director	$0	$0	$0
MARVIN E GILMORE	TRUSTEE	1.00	Director	$0	$0	$0
REGINALD A NUNNALLY	TRUSTEE	1.00	Director	$0	$0	$0
MARIJO MCCARTHY ESQ	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN A KELLY	TRUSTEE	1.00	Director	$0	$0	$0
LISA HERRINGTON	BPDA INTERIM GENERAL COUNSEL	1.00	Officer	$0	$38,356	$152,851
LINDA QIAN	FORMER TREASURER	1.00	Officer	$0	$44,643	$177,906
GISELLA SORIANO	ASSISTANT CLERK	1.00	Officer	$0	$26,799	$106,796
WILLIAM P NICKERSON	GENERAL MANAGER	1.00	Officer	$0	$34,905	$139,098
AMINA SCOTT	TREASURER	1.00	Officer	$0	$17,008	$67,777

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,971,693	$615,592	$7,670,777	$1,356,101
2022	$1,383,525	$1,013,356	$6,574,456	$370,169
2021	$895,678	$680,204	$6,000,512	$215,474
2020	$830,755	$1,203,777	$5,711,478	$-373,022
2019	$1,168,675	$1,104,843	$6,073,060	$63,832
2018	$916,641	$893,027	$6,119,799	$23,614

BOSTON LOCAL DEVELOPMENT CORPORATION