NonprofitsBoston Local Development Corp

Community Improvement & Capacity Building

Boston Local Development Corp

BOSTON, MA

Total revenue

$1.7M

Total expenses

$1.2M

Net assets

$7.8M

Grants received

$2.6M

38 grants

EIN

042681311

Tax year

2023

Mission

To benefit the community by fostering increased employment opportunities and expansion of business and industry for the citizens of the city of boston

Programs

3 programs

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 11,752 low and moderate-income taxpayers in boston annually.

Expenses: $112KGrants: $112K

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 1,359 residents in fiscal year 2024. Credit building programming. Early childhood literacy, and children's savings accounts are also key components of the services provided by the center.

Expenses: $321KGrants: $321K

All other programs

Expenses: $359KGrants: $359K

Financials

FY 2023

Revenue

Contributions & grants$1.6M
Program service revenue$125K
Investment income$8K
Other revenue$5K
Total revenue$1.7M

Expenses

Grants paid$793K
Salaries & benefits$264K
Fundraising
Other expenses$183K
Total expenses$1.2M
Total assets$7.9M
Net assets$7.8M

People

14 listed

NameRoleCompensation

JOHN E MARSTON

PRESIDENT

Board

2 hrs/wk

SEGUN IDOWU

VICE PRESIDENT

Board

2 hrs/wk

MICHAEL F BURKE ESQ

TRUSTEE

Board

1 hrs/wk

FRANK L DAVIS III

TRUSTEE

Board

1 hrs/wk

MARVIN E GILMORE

TRUSTEE

Board

1 hrs/wk

REGINALD A NUNNALLY

TRUSTEE

Board

1 hrs/wk

MARIJO MCCARTHY ESQ

TRUSTEE

Board

1 hrs/wk

KATHLEEN A KELLY

TRUSTEE

Board

1 hrs/wk

E RENEE LEFEVRE

TRUSTEE

Board

1 hrs/wk

LISA HERRINGTON

GENERAL COUNSEL

Board

1 hrs/wk

GISELLA SORIANO

SR. MANAGER FOR SMALL BUSINESS/CORPORATE FINANCING

Board

35 hrs/wk

WILLIAM P NICKERSON

GENERAL MANAGER

Board

17.5 hrs/wk

AMINA SCOTT

TREASURER

Board

1 hrs/wk

LINDA QIAN

CONTROLLER

Board

1 hrs/wk

Grants received

Showing 38 of 38

FromAmountPurposeYear
$218K
PRGM SUPPORT
2023
$162K
Community Impact
2023
$125K
POWERCORPS: PROGRAM EDUCATION AND CREDENTIALS
2023
$125K
POWERCORPS: PROGRAM EDUCATION AND CREDENTIALS
2023
$40K
ASSISTING RESIDENTS WITH CRITICAL FINANCIAL ISSUES RESULTING FROM COVID-19 ECONOMIC DISRUPTION
2023
$25K
Career pathways programs, training and coursework on tree care
2023
$25K
EXPANDING AND SUPPORTING THE CAPACITY OF A LOCAL BANK ON COALITION
2023
$20K
INTEGRATING BANKING ACCESS AND FINANCIAL EMPOWERMENT INTO YOUTH EMPLOYMENT PROGRAMS.
2023
$10K
Operating Support/Annual Fund
2023
$103K
Community Impact
2022
$75K
POWERCORPS BOSTON: PROGRAM EDUCATION AND CREDENTIALS
2022
$75K
GENERAL SUPPORT
2022
$25K
career pathways programs, training and coursework on tree care
2022
$8K
2022 INFLATION RECOGNITION GRANTS
2022
$5K
GENERAL PROGRAM SUPPORT
2022
$149K
Community Impact
2021
$120K
ASSISTING RESIDENTS WITH CRITICAL FINANCIAL ISSUES RESULTING FROM COVID-19 ECONOMIC DISRUPTION
2021
$75K
GENERAL SUPPORT
2021
$75K
GENERAL SUPPORT
2021
$25K
EXPANDING AND SUPPORTING THE CAPACITY OF A LOCAL BANK ON COALITION
2021
$130K
Community Impact
2020
$80K
ASSISTING RESIDENTS WITH CRITICAL FINANCIAL ISSUES RESULTING FROM COVID-19 ECONOMIC DISRUPTION
2020
$72K
ASSISTING RESIDENTS WITH CRITICAL FINANCIAL ISSUES RESULTING FROM COVID-19 ECONOMIC DISRUPTION
2020
$15K
FOR CITY ACADEMY AT MAYOR'S OFFICE OF WF
2020
$8K
Operating Support/Annual Fund
2020
$180K
Community Impact
2019
$223K
Community Impact
2018
$25K
EXPANDING AND SUPPORTING THE CAPACITY OF A LOCAL BANK ON COALITION
2018
$10K
UNRESTRICTED GENERAL
2018
$50K
Community Development
2017
$27K
Community Impact
2017
$10K
TO SUPPORT LEADERSHIP OF LOCAL BANK ON COALITIONS IN PROVIDING BANKING ACCESS TO LMI CONSUMERS, AS CONDUIT FOR CITY OF BOSTON
2017
$500
Operating Support
2017

Funded by

$2.6M from 12 funders · 38 grants · 2017–2024

United Way Of Massachusetts Bay Inc

$976K · 7 grants · 2017–2023

Cities For Financial Empowerment Fund

$417K · 9 grants · 2017–2023

Liberty Mutual Foundation Inc

$333K · 4 grants · 2022–2023

Local Initiatives Support Corporation

$250K · 4 grants · 2020–2024

The Blackbaud Giving Fund

$225K · 3 grants · 2021–2022

The Corps Network

$218K · 1 grant · 2023

Boston Foundation Inc

$69K · 4 grants · 2017–2023

American Forests

$50K · 2 grants · 2022–2023

Details

EIN042681311
NTEE codeS31Z
Subsection03
Ruling date1980-02
Formed1979
Employees0
Volunteers335
BOSTON LOCAL DEVELOPMENT CORP — Mission, Financials & Grants Received | Grantivo