Overview
What is Massdevelopmenthefa Trust?
The Massdevelopmenthefa Trust is a nonprofit entity based in Boston, Massachusetts. Its primary mission involves providing financial assistance to both the Massachusetts Development Finance Agency (MassDevelopment) and various charitable organizations and governmental entities. By doing so, the Trust helps reduce fees imposed by MassDevelopment on certain institutions and aids organizations that were previously authorized by law to receive assistance from the former Massachusetts Health and Educational Facilities Authority, which merged with MassDevelopment. Furthermore, the Trust administers the Community Health Center Grant Program, offering grants of up to $50,000 to community health centers for infrastructure projects, including construction, renovation, equipment, furniture, and technology-related projects.
Is Massdevelopmenthefa Trust legitimate?
Massdevelopmenthefa Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Massdevelopmenthefa Trust 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Massdevelopmenthefa Trust?
The Massdevelopmenthefa Trust, as per its mission, provides financial aid to two primary entities. Firstly, it assists the Massachusetts Development Finance Agency (MassDevelopment), a quasi-public entity, by reducing charges that MassDevelopment would otherwise impose on certain institutions using its services. Secondly, the trust aids certain charitable organizations and governmental entities, which were previously authorized by statute for assistance by the former Massachusetts Health and Educational Facilities Authority. This assistance was discontinued post-merger of the former authority into MassDevelopment. The trust's purpose is to support these entities with financial aid, thereby contributing to their operations and services.
Who is the CEO of Massdevelopmenthefa Trust?
See Schedule O is the Principal Officer of Massdevelopmenthefa Trust.
What is the revenue of Massdevelopmenthefa Trust?
Massdevelopmenthefa Trust's revenue in 2022 was $807,797.
Who are the executives of Massdevelopmenthefa Trust and what are their salaries?
There 2 volunteers at Massdevelopmenthefa Trust.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $206,480
- Other: $16,721
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Massdevelopmenthefa Trust?
Massdevelopmenthefa Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Massdevelopmenthefa Trust
The Massdevelopmenthefa Trust is an entity that has the capacity to provide financial aid for two distinct purposes. Firstly, it can contribute funds to the Massachusetts Development Finance Agency (MassDevelopment), a quasi-public entity, with the intention of reducing charges that MassDevelopment would otherwise impose on certain institutions utilizing its services. Secondly, the Trust can offer financial assistance to various charitable organizations and governmental entities, which were previously authorized by statute for aid by the former Massachusetts Health and Educational Facilities Authority, prior to its merger into MassDevelopment by law. The Trust's mission is to support these entities, helping to alleviate financial burdens and contribute to their respective missions.
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Impact
October, 2024
Massdevelopmenthefa Trust significantly impacts community health and development in Massachusetts by providing financial support to both the Massachusetts Development Finance Agency (MassDevelopment) and various charitable organizations. By offering funds to reduce charges imposed by MassDevelopment, the Trust enhances the affordability of services for select institutions, thereby facilitating their operational capacity and growth.
Additionally, through initiatives like the Community Health Center Grant Program, the Trust awards grants of up to $50,000, which enable community health centers to undertake crucial infrastructure projects. These projects may involve construction, renovation, or the procurement of essential equipment and technology, ultimately improving healthcare access and delivery for underserved communities.
By strategically directing funds to support both public entities and charitable organizations, Massdevelopmenthefa Trust plays a vital role in strengthening community infrastructure and promoting health equity across the state.
This information is meant to be a general summary of Massdevelopmenthefa Trust. 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: $807,797
- Gross Receipts: $807,797
Assets and Liabilities:
- Total Assets: $8,927,090
- Total Liabilities: $57,396
- Net Assets: $8,869,694
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Organization Details
Founding Year
1997
Phone
(617) 330-2000Principal Officer
See Schedule O
Main Address
99 HIGH STREET, BOSTON, MA, 02110
NTEE Category
Code: T30Z - Philanthropy
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