Bay Colony Development Corp
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.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| 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
Grant Insights
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2024
Grant Size Distribution
28 grants across all recorded years
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).
| Recipient | Purpose | Amount |
|---|---|---|
| NEWVUE FITCHBURG, MA | ECONOMIC DEVELOPMENT | $10,000 |
| NEW HAMPSHIRE COMMUNITY LOAN FUND CONCORD, NH | ECONOMIC DEVELOPMENT | $5,000 |
| VERMONT COMMUNITY LOAN FUND MONTPELIER, VT | ECONOMIC DEVELOPMENT | $5,000 |
| CENTER FOR WOMEN & ENTERPRISES INC PROVIDENCE, RI | ECONOMIC DEVELOPMENT | $5,000 |
| IMMIGRANT'S ASSISTANCE CENTER NEW BEDFORD, MA | ECONOMIC DEVELOPMENT | $5,000 |
| HEDCO HARTFORD, CT | ECONOMIC DEVELOPMENT | $5,000 |
| FRANKLIN COUNTY COMMUNITY DEVELOPMENT GREENFIELD, MA | ECONOMIC DEVELOPMENT | $5,000 |
| COMMUNITY DEVELOPMENT PARTNERSHIP ORLEANS, MA | ECONOMIC DEVELOPMENT | $5,000 |
| COMMUNITY TEAMWORKS ENTREPRENEUR CENTER LOWELL, MA | ECONOMIC DEVELOPMENT | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JAMES HEALEY | DIRECTOR | 5 | $14,000 |
| NINA LUCHKA | DIRECTOR | 2 | $5,000 |
| REBECCA DEWOLFE | CHAIRWOMAN | 7 | $14,000 |
| RICHARD LEFFERTS | DIRECTOR | 4 | $7,000 |
| SCOTT VANDERSALL | VICE CHAIRMAN | 5 | $14,000 |
| TIMOTHY FAHEY | DIRECTOR | 2 | $18,000 |
| WILLIAM CANTOR | DIRECTOR | 2 | $5,000 |
| MARY KATHERINE MANSFIELD | PRESIDENT AND CEO | 40 | $345,223 |
| GEORGE BERBECO | DIRECTOR UNTIL 03/24 | 2 | $5,000 |
| BETTY ULE | CFO | 40 | $188,014 |
| COLLEEN MURPHY GUARNIERI | VP CLOSING | 40 | $114,801 |
| DANIELLE BOUTIN | VP UNDERWRITING | 40 | $126,510 |
| EBERTO RANERO | SVP MARKETING | 40 | $207,745 |
| ERIK ADAMS | EXECUTIVE VP / SVP MARKETING | 40 | $362,298 |
| HEATHER STORME | VP MARKETING | 40 | $207,063 |
| KIMBERLY LEGERE | VP SERVICING | 40 | $140,530 |
| LAURA BROWN | VP MARKETING | 40 | $196,176 |
| ROSEMARIE FINN | VP UNDERWRITING | 40 | $154,324 |
| MELINDA BATOR | VP UNDERWRITING | 40 | $121,220 |
Subject Areas
Focus areas based on grantmaking activity
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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