Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1980.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
14 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Fosters employment and business growth for Boston citizens.
Questions for Boston Local Development Corporation
Your first name shows with your question. Boston Local Development Corporation answers here, for everyone.
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BLDC subcontracts with its affiliate, edic, to administer a revolving loan fund to promote industrial and economic development and job growth. 29 revolving loans were serviced in fiscal year 2025.
Financial Opportunity Center
Program which is provided to low-to moderate-income residents by providing career services, to help residents start on a pathway that leads to employment opportunities that pay living wages, and individualized financial coaching, which begins with a budget and goal for the future, incorporating savings and asset building.
Earned Income Tax Credit Program
Volunteer income tax assistance (vita) community-based program that has led the tax equity field in boston for 20 years. The program provides free, high-quality tax preparation and asset building services in eight languages to approximately 11,587 low and moderate-income taxpayers in boston annually.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $3.7M | $4.4M |
| InvestmentsLn 11–13 | $508K | $525K |
| Total assetsLn 16 | $7.9M | $8.8M |
| LiabilitiesLn 26 | $118K | $83K |
| Net assetsLn 32 | $7.8M | $8.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $476K | $476K | ||
| Pay of current officers, directors and key staffLn 5 | $172K | $172K | ||
| Other salaries and wagesLn 7 | $47K | $47K | ||
| Pension plan contributionsLn 8 | $38K | $38K | ||
| Other employee benefitsLn 9 | $17K | $17K | ||
| Legal feesLn 11b | $135 | $135 | ||
| Accounting feesLn 11c | $34K | $34K | ||
| Other expenses (24a–d)Ln 24 | $308K | $185K | $123K | |
| Total functional expensesLn 25 | $1.1M | $936K | $157K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $1.7M | $1.2M | $488K | $7.8M | 990 PDF |
| FY2023 | $2.0M | $616K | $1.4M | $7.5M | 990 PDF |
| FY2022 | $1.4M | $1.0M | $370K | $6.1M | 990 PDF |
| FY2021 | $896K | $680K | $215K | $5.8M | 990 PDF |
| FY2020 | $831K | $1.2M | −$373K | $5.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $1,981,160 revenue, 12 lines filed
Part VI · Governance 9 of 9 board members independent, 1 to look at
Part VIII · Statement of revenue $1,981,160 across 6 lines filed
Part IX · Statement of functional expenses $1,092,590 across 8 lines filed
Part X · Balance sheet $8,788,042 assets, 13 lines filed
Part XI · Reconciliation of net assets $8,705,493 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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