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 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.
Massdevelopment Hefa Trust at a glance
In short: Massdevelopment Hefa Trust gave $100K across 2 grants in 2025 (avg $50K), mostly in Massachusetts. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $100,000
- -71.4% vs 2024
- Grants made (2025)
- 2
- -71.4% vs 2024
- Average grant
- $50,000
- +0.2% vs 2024
- Median grant
- $50,000
- Total assets
- $10,889,047
- +8.2% vs 2024
- Primary geography
- Massachusetts (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Massdevelopment Hefa Trust funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Greater Roslindale Medical & Dental ($50K). Together the top 2 received $100K.
Grant Size Distribution
36 grants across all recorded years
The most common grant size was in the $50–100K range: 30 grants of 36 (83%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
How Massdevelopment Hefa Trust gives
- Giving fell 89% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $100K (2025) to $934K (2022). In 2025 it made 2 grants totaling $100K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Greater Roslindale Medical & Dental Roslindale, MA | To support facility upgrades, including renovations that would yield five new patient care rooms and a multi-disciplinary team work room. | $50,000 |
| North End Community Health Comm Boston, MA | For equipment and technology that supports the establishment of an in-house 340b pharmacy. | $50,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $10,889,047 | $1,489,894 | $250,266 | $100,000 | 2 | $1,485,559 |
| 2024 | $10,059,179 | $510,141 | $446,405 | $349,214 | 7 | $509,394 |
| 2023 | $9,317,179 | $74,249 | $247,455 | $150,000 | 3 | $74,249 |
| 2022 | $8,927,090 | $807,797 | $1,071,438 | $933,976 | 19 | $807,797 |
| 2021 | $11,267,953 | $1,042,684 | $377,315 | $250,000 | 5 | $1,042,684 |
| 2020 | $9,196,426 | $577,860 | $389,374 | $249,973 | 5 | $575,979 |
| 2019 | $9,009,460 | $281,939 | $580,365 | $483,924 | 10 | $275,220 |
About Massdevelopment Hefa Trust
Based on IRS filings
Massdevelopment Hefa Trust is a public charity, based in Boston, MA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $10.9M in total assets. In 2025, it awarded 2 grants totaling $100K. Net investment income was $1.5M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Massdevelopment Hefa Trust is led by Daniel Rivera, President & CEO on every filing since 2024; none of the 5 officers listed in 2025 report compensation.
Officers on the 2025 filing
Daniel Rivera
President & CEO
On filings since 2024
1 hr/week
No compensation reported
Brian Kavoogian
Trustee
On filings since 2019
1 hr/week
No compensation reported
Sean Calnan
Director & Clerk
Trustee → Director & Clerk, 2024
On filings since 2023
1 hr/week
No compensation reported
Cynthia Tonucci
Interim Executive Vice President Finance Programs
On filings since 2024
1 hr/week
No compensation reported
Simon Gerlin
Executive Vice President Finance & CFO
On filings since 2024
1 hr/week
No compensation reported
Former officers (4)
- Former: Mike Kennealy (2019–2023) — Trustee
- Former: Ricks P. Frazier (2019–2023) — Trustee
- Former: Robert Ash Jr. (2019) — Trustee
- Former: Robert M. Ruzzo (2019) — Trustee
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Massdevelopment Hefa Trust
How much does Massdevelopment Hefa Trust give each year?
Massdevelopment Hefa Trust gave $100K across 2 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $349K across 7 grants.
How large is Massdevelopment Hefa Trust?
Massdevelopment Hefa Trust reported $10.9M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.5M.
Where does Massdevelopment Hefa Trust operate?
Massdevelopment Hefa Trust has awarded grants in Massachusetts.
What is Massdevelopment Hefa Trust's EIN?
Massdevelopment Hefa Trust's EIN (Employer Identification Number) is 04-3379905. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 30, 2020)
- Updated Form 990 for fiscal year 2021 (received by the IRS March 25, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS February 3, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS March 18, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS January 13, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS May 5, 2026)
- IRS filings on file for fiscal years 2020–2024
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