CHARITABLE FRIENDS OF DIGAMMA BUILDING

EIN: 562507781 501(c)(3) Arts, Culture & Humanities

CAMBRIDGE, MA

Total Revenue
$993,982
Total Expenses
$1,743,032
Total Assets
$1,094,145
Net Assets
$146,711
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
MA
Principal Officer
WILLIAM T COLGAN
Phone
6175235000
Tax Period
2024-08-01 to 2025-07-31

CHARITABLE FRIENDS OF DIGAMMA BUILDING, founded in 2005, is a small nonprofit in the Arts, Culture & Humanities sector that reported $994K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $1.7M exceeded revenue, resulting in a 75% operating deficit.

Mission

PROTECTION AND PRESERVATION OF OLD AND HISTORIC BUILDINGS IN CAMBRIDGE, MASSACHUSETTS, AND SURROUNDING AREA.

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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 $961,249
Program Service Revenue $11,000
Investment Income $18,894
Other Revenue $2,839
TOTAL REVENUE $993,982

Expense Breakdown

Grants Paid $1,694,233
Salaries & Benefits $0
Fundraising Expenses $3,056
Program Expenses $1,702,131
Other Expenses $48,799
TOTAL EXPENSES $1,743,032

Year-over-Year Comparison

2024 2023 Change
Revenue $993,982 $1,192,614 -0.2%
Expenses $1,743,032 $2,096,065 -0.2%
Net Income $-749,050 $-903,451 -0.2%
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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Governance

Voting Members
10
Independent Members
10
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
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM T COLGAN PRESIDENT & DIRECTOR 5.00
Officer Director
$0 $0 $0
DOMINIC DENUNZIO VICE PRESIDENT & DIRECTOR 1.00
Officer Director
$0 $0 $0
CLEMENT C MCDAVID TREASURER & DIRECTOR 5.00
Officer Director
$0 $0 $0
JOSEPH KRISTOL SECRETARY CLERK & DIRECTOR 1.00
Officer Director
$0 $0 $0
FRANCIS MASTROIANNI DIRECTOR 1.00
Director
$0 $0 $0
NATHAN PICARSIC DIRECTOR 1.00
Director
$0 $0 $0
SCOTT COULTER DIRECTOR 1.00
Director
$0 $0 $0
STEVEN ERLE DIRECTOR 1.00
Director
$0 $0 $0
CALEB GALOOZIS DIRECTOR 1.00
Director
$0 $0 $0
NICK GAJDSIK 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 $993,982 $1,743,032 $1,094,145 $-749,050
2024 $1,192,614 $2,098,315 $2,315,894 $-905,701
2023 $1,500,008 $322,248 $2,108,305 $1,177,760
2022 $299,520 $124,928 $689,762 $174,592
2021 $92,250 $48,233 $457,898 $44,017
2020 $32,486 $39,686 $423,426 $-7,200
2019 $36,390 $26,613 $415,665 $9,777
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