Overview
What is Dorchester Bay Economic Development Corporation?
Dorchester Bay Economic Development Corporation is a nonprofit organization situated in Dorchester, Massachusetts. Their mission is to foster a strong, thriving, and diverse community in Boston's Dorchester neighborhoods. They achieve this by collaborating with local residents, businesses, and partners to access resources, ensuring affordable home ownership and rental housing, creating and sustaining economic development opportunities, and building community through organizing, civic engagements, and leadership development. Their work encompasses tenant organizing, engaging youth in education and leadership, running a recognized youth organizing program, providing reentry programs for ex-offenders, and offering computer training programs to enhance employment skills. With 37 employees, they actively work towards enhancing wealth and opportunities in the community.
Official website here: www.dbedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
Dorchester Bay Economic Development Corporation holds a Three-Star rating on Charity Navigator, reflecting a solid commitment to accountability and finance, with a score of 90% in this area. The organization demonstrates strong governance practices, including a fully independent board and comprehensive oversight mechanisms. Financially, it maintains a healthy program expense ratio of 84.72%, indicating that a significant portion of its budget is allocated directly to programs.
However, the organization received a lower score of 73% in Culture & Community, signaling potential areas for improvement in its community engagement and equity strategies. While the charity has established policies such as conflict of interest and whistleblower protections, further efforts might enhance community involvement and inclusivity.
Overall, Dorchester Bay Economic Development Corporation exhibits many strengths in financial management and transparency while also having room to grow in fostering a more robust cultural impact within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Dorchester Bay Economic Development Corporation legitimate?
Dorchester Bay Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dorchester Bay Economic Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $754,519
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,035,309
For more financial information, click here
Official website here: www.dbedc.org
What is the mission statement of Dorchester Bay Economic Development Corporation?
The Dorchester Bay Economic Development Corporation aims to foster a strong, vibrant, and diverse community. They achieve this by collaborating closely with neighborhood residents and partners, leveraging resources to develop and preserve affordable housing options, create and sustain economic development opportunities for businesses and individuals, and build community through organizing and leadership development initiatives. The organization's mission is centered around enhancing economic growth and fostering community empowerment.
Official website here: www.dbedc.org
Who is the CEO of Dorchester Bay Economic Development Corporation?
Kimberly Lyle is the Director Of Finance & Admin of Dorchester Bay Economic Development Corporation. The CEO's salary of Dorchester Bay Economic Development Corporation is $168,024 and their total compensation is $199,059.
Official website here: www.dbedc.org
What is the revenue of Dorchester Bay Economic Development Corporation?
Dorchester Bay Economic Development Corporation's revenue in 2022 was $10,163,285.
Official website here: www.dbedc.org
Who are the executives of Dorchester Bay Economic Development Corporation and what are their salaries?
The average compensation at Dorchester Bay Economic Development Corporation during 2022 was $48,374. There are 37 employees and 21 volunteers at Dorchester Bay Economic Development Corporation.
Here are 25 key members and their salaries (Dorchester Bay Economic Development Corporation's CEO's salary is $168,024 and their total compensation is $199,059):
- Compensation: $207,692
- Related: $0
- Other: $49,351
- Compensation: $180,000
- Related: $0
- Other: $40,320
- Compensation: $177,500
- Related: $0
- Other: $36,431
- Compensation: $168,024
- Related: $0
- Other: $31,035
- Compensation: $125,000
- Related: $0
- Other: $47,454
- Compensation: $125,000
- Related: $0
- Other: $47,274
- Compensation: $101,363
- Related: $0
- Other: $24,748
- Compensation: $64,356
- Related: $0
- Other: $20,130
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Official website here: www.dbedc.org
Where can I find the form 990 for Dorchester Bay Economic Development Corporation?
Dorchester Bay Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dbedc.org
Learn more at the official website: www.dbedc.org
Mission Statement of Dorchester Bay Economic Development Corporation
Dorchester Bay Economic Development Corporation strives to foster a robust, prosperous, and diverse community within Boston's Dorchester neighborhoods. The organization collaborates closely with neighborhood residents and partners to harness available resources, with three key objectives:
1. To promote and maintain affordable homeownership and rental housing options across various income levels.
2. To establish and sustain commercial and economic development opportunities for both individuals and businesses.
3. To empower the community through organizing efforts, civic engagement, and leadership development.
In essence, Dorchester Bay Economic Development Corporation serves as a catalyst for positive change in its community, working tirelessly to create an environment where individuals and businesses can thrive, and community members can come together to build a stronger, more cohesive neighborhood.
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Impact
July, 2024
Dorchester Bay Economic Development Corporation's impact in Boston's Dorchester neighborhoods is profound. By working closely with residents, businesses, and partners, this organization has been instrumental in developing and preserving affordable homeownership and rental housing across income levels. Additionally, they have played a key role in creating and sustaining economic development opportunities for businesses and individuals in the community. Through their community services, such as tenant organizing, youth engagement, reentry programs for ex-offenders, and computer training initiatives, Dorchester Bay Economic Development Corporation has significantly contributed to building community power, fostering leadership development, and increasing opportunities for residents. Their commitment to community improvement is evident in their multifaceted approach to addressing crucial issues and empowering individuals to thrive in Dorchester.
This information is meant to be a general summary of Dorchester Bay Economic Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,810
- Program Service Revenue: $6,760,060
- Gross Receipts: $10,651,400
Assets and Liabilities:
- Total Assets: $62,773,183
- Total Liabilities: $39,590,660
- Net Assets: $23,182,523
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENT SERVICE FEES
Revenue
$3,184,197
INTEREST INCOME ON NOTES RECEIVAB
Revenue
$1,765,766
PROJECT FEES
Revenue
$1,366,016
RENTAL INCOME
Revenue
$444,081
Organization Details
Founding Year
1979
Phone
(617) 825-4200Principal Officer
Kimberly Lyle
Main Address
594 COLUMBIA ROAD, DORCHESTER, MA, 02125
Website
www.dbedc.orgNTEE Category
Code: S310 - Community improvement
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