EIN 04-2681632

Dorchester Bay Economic Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
37
Year formed
1979
Most recent tax filings
2022-12-01
Description
Dorchester Bay Economic Development Corporation acts to build a strong, thriving, and diverse community in Boston’s Dorchester neighborhoods. Working closely with neighborhoods, residents, businesses and partners.
Total revenues
$10,163,285
2022
Total expenses
$8,063,463
2022
Total assets
$62,773,183
2022
Num. employees
37
2022

Program areas at Dorchester Bay Economic Development Corporation

Community services:our community services include tenant organizing which brings together active tenants to promote leadership and tackle critical issues. Within our organizing efforts, programs engage youth in education, recreation, organizing, leadership, and community services. "youth force organizing training and leadership Development, is recognized as one of the strongest youth organizing programs in the state. Our reentry program is the first cdc-based re-entry program in new england for ex-offenders returning to their community. Using our organizing expertise, we have pulled together the a.g.'s office, police, corrections, and other non-profit service partners in this important collaborative. Our computer training programs have helped train adults and youths in computer skills. By placing residents in jobs created by our efforts, and helping build skills for employment, our efforts increase wealth and opportunities.
Loan programs:loan programs provide one-on-one pre-loan and post-loan technical assistance to small business entrepreneurs and borrowers. The business loan fund offers direct loans from $500 to $250,000 (both db capital and sba loans). Dbedc is the only boston area cdc to make direct loans to small businesses. Dbedc's two-pronged strategies of developing commercial real estate and lending to businesses reinforce each other by creating physical spaces for business and also strengthening internal business capacity. Commercial revitalization is giving new life to the commercial districts in our area. We have completed loans to a wide array of different types of businesses.
Project development:project Development acquires constructs and redevelops real estate in our service area with the goal of reducing blight, improving the neighborhood, creating and preserving affordable housing, as well as commercial space that provides jobs, services and places for businesses to grow and thrive. In 2021 we completed construction on a 90-unit residential project (indigo block) and a $12,000,000 commercial project. In 2021 we started construction on a historic project (pierce) and completed construction in 2022 for a total cost of $13,700,000. In 2022, construction continued for leyland street which is converting a 13,000 square foot property into a 42,000 square foot, 42-unit affordable housing senior housing building.
Asset management:asset management focuses on the long term stewardship of the dbedc properties by seeking out physical, social, financial, environmental and policy opportunities that would maximize the value of the portfolio as well as improve the lives of the residents in the properties. At least 1.1 million dollars was spent in capital improvements in the portfolio to make sure the properties remain in good physical shape. 100% of the properties are being tracked on energy efficiency software and on average the portfolio had a 99% occupancy rate. All properties met the debt service requirements.

Grants made by Dorchester Bay Economic Development Corporation

GranteeGrant descriptionAmount
Project PlaceBoston Workforce Subcontractor$105,000
Jewish Vocational Service BostonBoston Workforce Subcontractor$81,850
Boston Public Housing CorporationBoston Workforce Subcontractor$59,432
...and 2 more grants made

Who funds Dorchester Bay Economic Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Kresge FoundationTo Support the Fairmont Indigo CDC Collaborative As They Mobilize Communities in Boston To Advocate for More Equitable Climate and Health Policies.$200,000
Opportunity Finance Network (OFN)Ofn Cdfi Tech Grant Program Supported By Google.org$75,000
United Way of Massachusetts Bay and Merrimack ValleyCommunity Impact$64,701
...and 14 more grants received

Personnel at Dorchester Bay Economic Development Corporation

NameTitleCompensation
Ms. Lyle LeadsChief Executive Officer
Paola Pelletier-OzunaChief of Staff
Ms. Lyle ServesVice President
Charles McVeaDirector of Finance and Administration Finance and Administration$207,692
David SimmonsDirector of Finance and Administration$64,356
...and 21 more key personnel

Financials for Dorchester Bay Economic Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$3,487,123
Program services$6,760,060
Investment income and dividends$2,810
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$-86,708
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$10,163,285

Form 990s for Dorchester Bay Economic Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122022-11-14990View PDF
2020-122021-11-11990View PDF
2019-122021-04-01990View PDF
2018-122020-01-16990View PDF
...and 9 more Form 990s
Data update history
January 20, 2024
Updated personnel
Identified 14 new personnel
January 2, 2024
Received grants
Identified 6 new grant, including a grant for $200,000 from Kresge Foundation
December 28, 2023
Posted financials
Added Form 990 for fiscal year 2022
December 27, 2023
Updated personnel
Identified 3 new personnel
December 24, 2023
Used new vendors
Identified 2 new vendors, including , and
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCommunity Development Financial InstitutionsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Receives government fundingTax deductible donations
General information
Address
594 Columbia Rd
Dorchester, MA 02125
Metro area
Boston-Cambridge-Newton, MA-NH
County
Suffolk County, MA
Website URL
dbedc.org/ 
Phone
(617) 825-4200
Facebook page
dorchesterbayedc 
Twitter profile
@dbedc 
IRS details
EIN
04-2681632
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1979
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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