East Bay Community Development Corporation
- Assets
- $4.3m
- Revenue
- $901.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Bristol, RI
- Founding
- 04/1992
- Data as of
- 06/2022
- EIN
- 05-0445955
Organization Overview
East Bay Community Development Corporation is located in Bristol, RI. The organization was established in 1992. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Bay Community Development 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 06/2022, East Bay Community Development Corporation generated $901.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $940.3k during the year ending 06/2022. While expenses have increased by 8.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE DECENT AND AFFORDABLE HOUSING OPPORTUNITIES TO LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PURCHASES, SELLS AND RENTS HOUSING FOR LOW AND MODERATE INCOME PERSONS. THE ORGANIZATION HAS ACQUIRED A PROPERTY TO BE USED IN TAX CREDIT LOW INCOME HOUSING. IN ADDITION, THE ORGANIZATION OWNS AND RENTS 16 UNITS OF HOUSING OUTRIGHT AND MANAGES LOW INCOME HOUSING PROPERTIES WITH OVER 317 UNITS IN WHICH IT HAS A GENERAL PARTNER INTEREST OR CONTROLLING INTEREST. SUBSTANTIALLY ALL OF UNITS ARE RENTED TO LOW AND MODERATE INCOME PERSONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josue Canario Vice President | OfficerTrustee | 1 | $0 |
Vicky White Secretary | OfficerTrustee | 1 | $0 |
Bette Walpole President | OfficerTrustee | 1 | $0 |
Denise Asciola Treasurer | OfficerTrustee | 1 | $0 |
Mary Moreira Director | Trustee | 1 | $0 |
Catherine Tattrie Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,165 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,565 |
| Total Program Service Revenue | $527,867 |
| Investment income | $1,935 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,936 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $901,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,017 |
| Fees for services: Accounting | $15,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,908 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,663 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,118 |
| Insurance | $28,055 |
| All other expenses | $54,212 |
| Total functional expenses | $940,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,698 |
| Savings and temporary cash investments | $295,864 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $359,119 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,571 |
| Net Land, buildings, and equipment | $2,470,673 |
| Investments—publicly traded securities | $666,955 |
| Investments—other securities | $0 |
| Investments—program-related | $91,076 |
| Intangible assets | $6,708 |
| Other assets | $315,168 |
| Total assets | $4,341,832 |
| Accounts payable and accrued expenses | $181,606 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $544,370 |
| Unsecured mortgages and notes payable | $65,665 |
| Other liabilities | $11,768 |
| Total liabilities | $803,409 |
| Net assets without donor restrictions | $2,862,319 |
| Net assets with donor restrictions | $676,104 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,341,832 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that East Bay Community Development Corporation has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Springhouse Inc Boston, MA | $37,736,932 | $9,492,146 |
The Neighborhood Developers Inc Chelsea, MA | $68,146,151 | $7,961,454 |