Bclf Managed Assets Corporation
- Assets
- $17.2m
- Revenue
- $1.3m
- Investments
- $7.5k
- Employees
- 0
- Location
- Boston, MA
- Founding
- 06/1996
- Data as of
- 12/2023
- EIN
- 04-3246547
Organization Overview
Bclf Managed Assets Corporation is located in Boston, MA. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bclf Managed Assets Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Bclf Managed Assets Corporation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (25.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DEVELOPS NEW BUSINESS INITIATIVES AND INNOVATIVE FUNDING VEHICLES FOR LOW-INCOME INDIVIDUALS AND COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Clark Chairman Of The Board | 1 | $0 | |
Sarah Lincoln Treasurer | 1 | $0 | |
Reverend James Walsh Sj Clerk | 1 | $0 | |
Edward Dugger III Board Member | 1 | $0 | |
Julie Gould Board Member | 1 | $0 | |
Maria Maffei Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $726,358 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $595,035 |
| Total Revenue | $1,321,393 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $399,604 |
| Other employee salaries and wages | $282,350 |
| Pension plans, employee benefits | $102,523 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $141,573 |
| Total operating and administrative expenses | $1,180,032 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,180,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,583,091 |
| Net Accounts receivable | $1,633,030 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,500 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,223,621 |
| Accounts payable and accrued expenses | $170,438 |
| Grants payable | $0 |
| Deferred revenue | $1,504,857 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $67,532 |
| Total liabilities | $1,742,827 |
Grants Awarded
Over the last fiscal year, Bclf Managed Assets Corporation has awarded $11,153,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BCLF VENTURES INC PURPOSE: TO PROVIDE ADDITIONAL INVESTMENTS IN AURA MORTGAGE AND WEGOWISE. | $9,500,000 |
BOSTON COMMUNITY LOAN FUND PURPOSE: SUPPORT OF ORGANIZATION | $850,000 |
BOSTON COMMUNITY CAPITAL INC PURPOSE: SUPPORT OF ORGANIZATION | $803,000 |