Massdevelopment Hefa Trust
THE TRUST MAY PROVIDE FUNDS (I) FOR THE BENEFIT OF MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (MASSDEVELOPMENT), A QUASIPUBLIC ENTITY, TO REDUCE CHARGES THAT IT OTHERWISE WOULD IMPOSE ON CERTAIN INSTITUTIONS USING ITS SERVICES AND (II) FOR THE (SEE SCHEDULE O) BENEFIT OF CERTAIN CHARITABLE ORGANIZATIONS AND GOVERNMENTAL ENTITIES THAT THE FORMER MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY, PRIOR TO ITS MERGER BY LAW INTO MASSDEVELOPMENT, WAS AUTHORIZED BY STATUTE TO ASSIST.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$10.1M
+8.0% YoY
Annual Giving
$349K
+132.8% YoY
Grant Count
7
+133.3% YoY
Avg Grant Size
$50K
-0.2% YoY
About Massdevelopment Hefa Trust
Based on IRS filings
Massdevelopment Hefa Trust is a nonprofit organization focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $10.1M in total assets. In 2024, it awarded 7 grants totaling $349K. Net investment income was $509K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $10,059,179 | $9,317,179 | $8,927,090 |
| Revenue | $510,141 | $74,249 | $807,797 |
| Expenses | $446,405 | $247,455 | $1,071,438 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $509,394 | $74,249 | $807,797 |
| 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 7 recipients in 2024
Grant Size Distribution
39 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRIAN KAVOOGIAN | TRUSTEE | 1 | — |
| SEAN CALNAN | DIRECTOR/CLERK | 1 | — |
| SIMON GERLIN | EVP FINANCE/CFO | 1 | — |
| DANIEL RIVERA | PRESIDENT/CEO | 1 | — |
| CYNTHIA TONUCCI | INTERIM EVP FINANCE PROGRAMS | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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