WORCESTER EAST SIDE COMMUNITY DEVELOPMENT CORPORATION

EIN: 043280116 501(c)(3) Housing & Shelter

WORCESTER, MA

Total Revenue
$366,856
Total Expenses
$424,622
Total Assets
$2,786,020
Net Assets
$-627,385
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
MA
Principal Officer
N PAUL TONTHAT
Phone
5087990322
Tax Period
2024-07-01 to 2025-06-30

WORCESTER EAST SIDE COMMUNITY DEVELOPMENT CORPORATION, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $367K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $425K exceeded revenue, resulting in a 16% operating deficit.

Mission

To stabilize and revitalize the East Side Neighborhoods that we serve in order to improve the quality of life for all those who reside or work here. We aim to reduce neighborhood blight, preserve current housing stock, increase the availability of quality home ownership opportunities and affordable well-managed rental units, provide economic and educational programs, promote the activities of new and existing businesses and create a safer, healthier community for all. We seek to foster open channels of communication among those within the community and the government. We involve all that have an interest and encourage their leadership and growth to achieve these objectives.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $95,052
Program Service Revenue $271,249
Investment Income $555
Other Revenue $0
TOTAL REVENUE $366,856

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $391,004
Other Expenses $424,622
TOTAL EXPENSES $424,622

Year-over-Year Comparison

2024 2023 Change
Revenue $366,856 $289,217 +0.3%
Expenses $424,622 $404,456 +0.0%
Net Income $-57,766 $-115,239 -0.5%
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

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Liquidity & Cash Position

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

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

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
2
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
COLLEEN PAPPAS President 1.00
Officer Director
$0 $0 $0
DEBRA BOLZ Treasurer 1.00
Officer Director
$0 $0 $0
ELLIOT LINZ Director 1.00
Director
$0 $0 $0
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 $366,856 $424,622 $2,786,020 $-57,766
2024 $289,217 $404,456 $3,019,324 $-115,239
2023 $228,952 $467,925 $3,111,222 $-238,973
2022 $823,712 $561,563 $3,314,610 $262,149
2021 $556,381 $566,092 $3,581,582 $-9,711
2020 $448,469 $584,972 $3,401,501 $-136,503
2019 $313,853 $708,076 $3,575,118 $-394,223
2018 $239,149 $513,322 $4,123,029 $-274,173
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