Community Development Inc
- Assets
- $1.8m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/1987
- Data as of
- 12/2022
- EIN
- 22-2813032
Organization Overview
Community Development Inc is located in Boston, MA. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Development Inc 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 12/2022, Community Development Inc generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (35.1%) each year. All expenses for the organization totaled $459.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (37.5%) per year over the past 7 years. 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
COMMUNITY DEVELOPMENT, INC. (THE CORPORATION) IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS (LPS) OR LIMITED LIABILITY COMPANIES (LLCS) AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS; AND TO PROVIDE OFFICE FACILITIES TO OTHER NONPROFIT ORGANIZATIONS AT BELOW COST IN ORDER TO ASSIST THOSE ORGANIZATIONS IN ACCOMPLISHING THEIR CHARITABLE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY DEVELOPMENT, INC. (CDI) IS A CHARITABLE CORPORATION THAT WAS ESTABLISHED ON MAY 29, 1987 UNDER THE PROVISIONS OF GENERAL LAWS, CHAPTER 180 OF THE COMMONWEALTH OF MASSACHUSETTS. THE PRIMARY PURPOSES OF CDI ARE TO ACQUIRE, IMPROVE AND MAKE HOUSING AVAILABLE TO PERSONS AND FAMILIES OF LOW INCOMES, TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES THAT PROMOTE ECONOMIC DEVELOPMENT IN BLIGHTED, DECAYED OR SUBSTANDARD AREAS; AND TO PROVIDE OFFICES AND RELATED FACILITIES FOR NONPROFIT CHARITABLE ORGANIZATIONS BELOW MARKET RATES TO ASSIST THE ORGANIZATIONS IN ACCOMPLISHING THEIR CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hetal Gada Assistant Treasurer | OfficerTrustee | 0.1 | $0 |
James Rushford Assistant Clerk | OfficerTrustee | 0.1 | $0 |
Nina Schwarzschild Treasurer/director | OfficerTrustee | 0.1 | $0 |
Phillip L Clay President/director | OfficerTrustee | 0.1 | $0 |
Russell Tanner Clerk/director | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,808,385 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,808,385 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $328,934 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $459,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,032 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,746,944 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $28,763 |
| Other assets | $0 |
| Total assets | $1,813,777 |
| Accounts payable and accrued expenses | $16,150 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $231,123 |
| Total liabilities | $247,273 |
| Net assets without donor restrictions | $1,566,504 |
| Net assets with donor restrictions | $0 |
| 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 | $1,813,777 |