Bay Colony Development Corp logo

Bay Colony Development Corp

Foundation · Grantmaker WALTHAM, MA EIN: 04-2738974 Website
Economically disadvantaged peopleLow-income peopleCommunity and economic developmentBusiness and industry

IT IS BCDC'S MISSION TO BE THE LENDER OF CHOICE FOR SMALL BUSINESSES, BY INVESTING RESOURCES; BOTH MONETARILY AND PROFESSIONALLY, THAT OFFER CREATIVE FINANCING SOLUTIONS TO PROVIDE POSITIVE ECONOMIC IMPACT WITHIN THE COMMUNITIES WE SERVE.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$5.3M

+20.5% YoY

Annual Giving

$50K

+66.7% YoY

Grant Count

9

+80.0% YoY

Avg Grant Size

$6K

-7.4% YoY

About Bay Colony Development Corp

Based on IRS filings

Bay Colony Development Corp is a nonprofit organization focused on Economically disadvantaged people, based in WALTHAM, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $5.3M in total assets. In 2024, it awarded 9 grants totaling $50K. Net investment income was $143K.

Focus Areas

Economically disadvantaged peopleLow-income peopleCommunity and economic developmentBusiness and industry
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Geographic Focus

Where this funder awards grants

Grant Distribution by State

5states

States

ConnecticutMassachusettsNew HampshireRhode IslandVermont

Cities

ConcordFitchburgGreenfieldHartfordLowellMontpelierNew BedfordOrleansProvidence

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$1M$3M$4M$6M20202021202220232024
Metric202420232022
Total Assets$5,320,645$4,414,025$3,401,192
Revenue$5,023,750$4,591,941$4,128,330
Expenses$4,144,965$3,962,002$3,908,557
Qualifying Distributions———
Net Investment Income$142,741$95,180$4,489
Distributable Amount———

Giving Over Time

Total grant dollars and number of grants per year

$0$13K$25K$38K$50K4 grants20205 grants20215 grants20225 grants20239 grants2024

Grant Insights

How this funder distributes its grants

Top Recipients

Top 9 recipients in 2024

NEWVUE$10KNEW HAMPSHIRE COMMUNITY …$5KVERMONT COMMUNITY LOAN F…$5KCENTER FOR WOMEN & ENTER…$5KIMMIGRANT'S ASSISTANCE C…$5KHEDCO$5KFRANKLIN COUNTY COMMUNIT…$5KCOMMUNITY DEVELOPMENT PA…$5KCOMMUNITY TEAMWORKS ENTR…$5K

Grant Size Distribution

28 grants across all recorded years

28<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Newvue ($10,000), New Hampshire Community Loan Fund ($5,000), Vermont Community Loan Fund ($5,000).

RecipientPurposeAmount
NEWVUE FITCHBURG, MAECONOMIC DEVELOPMENT$10,000
NEW HAMPSHIRE COMMUNITY LOAN FUND CONCORD, NHECONOMIC DEVELOPMENT$5,000
VERMONT COMMUNITY LOAN FUND MONTPELIER, VTECONOMIC DEVELOPMENT$5,000
CENTER FOR WOMEN & ENTERPRISES INC PROVIDENCE, RIECONOMIC DEVELOPMENT$5,000
IMMIGRANT'S ASSISTANCE CENTER NEW BEDFORD, MAECONOMIC DEVELOPMENT$5,000
HEDCO HARTFORD, CTECONOMIC DEVELOPMENT$5,000
FRANKLIN COUNTY COMMUNITY DEVELOPMENT GREENFIELD, MAECONOMIC DEVELOPMENT$5,000
COMMUNITY DEVELOPMENT PARTNERSHIP ORLEANS, MAECONOMIC DEVELOPMENT$5,000
COMMUNITY TEAMWORKS ENTREPRENEUR CENTER LOWELL, MAECONOMIC DEVELOPMENT$5,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

ERIK ADAMSEXECUTIVE VP / SVP MARKETING$362KMARY KATHERINE MANSF…PRESIDENT AND CEO$345KEBERTO RANEROSVP MARKETING$208KHEATHER STORMEVP MARKETING$207KLAURA BROWNVP MARKETING$196KBETTY ULECFO$188KROSEMARIE FINNVP UNDERWRITING$154KKIMBERLY LEGEREVP SERVICING$141KDANIELLE BOUTINVP UNDERWRITING$127KMELINDA BATORVP UNDERWRITING$121KCOLLEEN MURPHY GUARN…VP CLOSING$115KTIMOTHY FAHEYDIRECTOR$18KJAMES HEALEYDIRECTOR$14KREBECCA DEWOLFECHAIRWOMAN$14KSCOTT VANDERSALLVICE CHAIRMAN$14KRICHARD LEFFERTSDIRECTOR$7KNINA LUCHKADIRECTOR$5KWILLIAM CANTORDIRECTOR$5KGEORGE BERBECODIRECTOR UNTIL 03/24$5K

From 2024 filing

NameTitleHoursCompensation
JAMES HEALEYDIRECTOR5$14,000
NINA LUCHKADIRECTOR2$5,000
REBECCA DEWOLFECHAIRWOMAN7$14,000
RICHARD LEFFERTSDIRECTOR4$7,000
SCOTT VANDERSALLVICE CHAIRMAN5$14,000
TIMOTHY FAHEYDIRECTOR2$18,000
WILLIAM CANTORDIRECTOR2$5,000
MARY KATHERINE MANSFIELDPRESIDENT AND CEO40$345,223
GEORGE BERBECODIRECTOR UNTIL 03/242$5,000
BETTY ULECFO40$188,014
COLLEEN MURPHY GUARNIERIVP CLOSING40$114,801
DANIELLE BOUTINVP UNDERWRITING40$126,510
EBERTO RANEROSVP MARKETING40$207,745
ERIK ADAMSEXECUTIVE VP / SVP MARKETING40$362,298
HEATHER STORMEVP MARKETING40$207,063
KIMBERLY LEGEREVP SERVICING40$140,530
LAURA BROWNVP MARKETING40$196,176
ROSEMARIE FINNVP UNDERWRITING40$154,324
MELINDA BATORVP UNDERWRITING40$121,220

Subject Areas

Focus areas based on grantmaking activity

Economically disadvantaged peopleLow-income peopleCommunity and economic developmentBusiness and industry

Frequently Asked Questions

What is Bay Colony Development Corp?

Bay Colony Development Corp is a nonprofit organization focused on Economically disadvantaged people, based in WALTHAM, MA. It holds $5.3M in total assets as of 2024.

How large is Bay Colony Development Corp?

As of 2024, Bay Colony Development Corp holds $5.3M in total assets with $5.0M in annual revenue. It awarded 9 grants totaling $50K in 2024.

Where does Bay Colony Development Corp operate?

Bay Colony Development Corp has awarded grants in Connecticut, Massachusetts, New Hampshire, Rhode Island, Vermont.

What size grants does Bay Colony Development Corp award?

In 2024, Bay Colony Development Corp awarded 9 grants totaling $50K — an average of about $6K per grant, based on its IRS Form 990 filings.

What is Bay Colony Development Corp's EIN?

Bay Colony Development Corp's EIN (Employer Identification Number) is 04-2738974. IRS Form 990 filing data is available on this page for 2020–2024.

Explore Open Grants

Browse active grant opportunities in Bay Colony Development Corp's focus areas in our free grants database

Massachusetts GrantsConnecticut GrantsNew Hampshire Grants

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