Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1983.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
81 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
22 people listed on the 990; $2.6M paid to officers and key staff (Part VII, Section A).
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Erik Adams | $401,126 | $362,298 | $400,946 | $392,343 | $303,831 | $294,449 |
| Mary Katherine Mansfield | $371,109 | $345,223 | $313,961 | — | — | — |
| Mary Mansfield | — | — | — | $281,604 | $316,987 | $272,477 |
| Eberto Ranero | $243,418 | $207,745 | $209,349 | $201,141 | $201,315 | $182,231 |
| Laura Brown | $207,978 | $196,176 | $205,793 | $53,667 | — | — |
| Heather Storme | $195,900 | $207,063 | $186,879 | $182,210 | $135,034 | $117,573 |
| Betty Ule | $198,019 | $188,014 | $177,397 | $141,956 | $133,389 | $122,156 |
| Rosemarie Finn | $165,325 | $154,324 | $155,042 | $130,192 | $112,625 | $126,972 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Bay Colony Development Corp executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Finances small businesses in New England with SBA 504 loans and microlending.
Questions for Bay Colony Development Corp
Your first name shows with your question. Bay Colony Development Corp answers here, for everyone.
To assist small business concerns to finance owner occupied commercial real estate, purchases of land, machinery and equipment, and to assist with the growth and development of businesses and foster increased employment opportunities.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 04-2738974) · Dispute this lineBCDC provides microloans ($50,000 maximum) to borrowers within the corporation's lending area. During the year, BCDC funded 6 loans totaling $145,900.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 04-2738974) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.2M | $4.8M |
| InvestmentsLn 11–13 | $337K | $267K |
| Land, buildings, equipmentLn 10c | $25K | $21K |
| Total assetsLn 16 | $5.3M | $6.0M |
| LiabilitiesLn 26 | $722K | $741K |
| Net assetsLn 32 | $4.6M | $5.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $31K | $31K | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $3.0M | $2.3M | $788K | |
| Other salaries and wagesLn 7 | $599K | $599K | ||
| Pension plan contributionsLn 8 | $90K | $90K | ||
| Other employee benefitsLn 9 | $61K | $52K | $9K | |
| Payroll taxesLn 10 | $204K | $161K | $43K | |
| Legal feesLn 11b | $207K | $207K | ||
| Accounting feesLn 11c | $28K | $28K | ||
| Other fees for servicesLn 11g | $80K | $71K | $9K | |
| Advertising and promotionLn 12 | $91K | $91K | ||
| Office expensesLn 13 | $166K | $136K | $30K | |
| OccupancyLn 16 | $128K | $115K | $13K | |
| TravelLn 17 | $20K | $18K | $2K | |
| Conferences, conventions and meetingsLn 19 | $60K | $48K | $11K | |
| Depreciation, depletion and amortizationLn 22 | $7K | $6K | $662 | |
| InsuranceLn 23 | $11K | $11K | ||
| Other expenses (24a–d)Ln 24 | $27K | $27K | ||
| Total functional expensesLn 25 | $4.9M | $3.9M | $906K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS Feb 27, 2026 | $5.5M | $4.9M | $624K | $5.2M | 990 PDF |
| FY2024Filed with the IRS Feb 26, 2025 | $5.0M | $4.1M | $879K | $4.6M | 990 PDF |
| FY2023Filed with the IRS Mar 19, 2024 | $4.6M | $4.0M | $630K | $3.7M | 990 PDF |
| FY2022Filed with the IRS Feb 14, 2023 | $4.1M | $3.9M | $220K | $3.0M | 990 PDF |
| FY2021Filed with the IRS Feb 3, 2022 | $4.6M | $3.6M | $976K | $2.8M | 990 PDF |
| FY2020Filed with the IRS Feb 1, 2021 | $3.8M | $3.4M | $479K | $1.8M | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $5,476,886 revenue, 12 lines filed
Part VI · Governance 8 of 9 board members independent, 1 to look at
Part VIII · Statement of revenue $5,476,886 across 4 lines filed
Part IX · Statement of functional expenses $4,853,179 across 17 lines filed
Part X · Balance sheet $5,987,484 assets, 15 lines filed
Part XI · Reconciliation of net assets $5,246,803 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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