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
83 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
19 people listed on the 990; $1.8M paid to officers and key staff.
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.
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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
Finances small businesses in New England with SBA 504 loans and microlending.
Questions for Bay Colony Development Corp
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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.
BCDC provides microloans ($25,000 maximum) to borrowers within the corporation's lending area. During the year, BCDC funded four loans totaling $72,000
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.9M | $2.1M |
| InvestmentsLn 11–13 | $32K | $475K |
| Land, buildings, equipmentLn 10c | $23K | $18K |
| Total assetsLn 16 | $3.1M | $3.4M |
| LiabilitiesLn 26 | $327K | $413K |
| Net assetsLn 32 | $2.8M | $3.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $18K | $18K | ||
| Pay of current officers, directors and key staffLn 5 | $1.9M | $1.4M | $509K | |
| Other salaries and wagesLn 7 | $549K | $549K | ||
| Pension plan contributionsLn 8 | $264K | $217K | $47K | |
| Payroll taxesLn 10 | $156K | $124K | $33K | |
| Other fees for servicesLn 11g | $362K | $356K | $7K | |
| Advertising and promotionLn 12 | $50K | $50K | ||
| Office expensesLn 13 | $125K | $110K | $15K | |
| OccupancyLn 16 | $167K | $150K | $17K | |
| TravelLn 17 | $8K | $7K | $766 | |
| Conferences, conventions and meetingsLn 19 | $11K | $10K | $1K | |
| Depreciation, depletion and amortizationLn 22 | $9K | $8K | $904 | |
| InsuranceLn 23 | $175K | $138K | $37K | |
| Other expenses (24a–d)Ln 24 | $82K | $79K | $3K | |
| All other expensesLn 24e | $3K | $3K | ||
| Total functional expensesLn 25 | $3.9M | $3.2M | $670K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $5.5M | $4.9M | $624K | $5.2M | 990 PDF |
| FY2024 | $5.0M | $4.1M | $879K | $4.6M | 990 PDF |
| FY2023 | $4.6M | $4.0M | $630K | $3.7M | 990 PDF |
| FY2022 Viewing | $4.1M | $3.9M | $220K | $3.0M | 990 PDF |
| FY2021 | $4.6M | $3.6M | $976K | $2.8M | 990 PDF |
| FY2020 | $3.8M | $3.4M | $479K | $1.8M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $4,128,330 revenue, 12 lines filed
Part VI · Governance 8 of 10 board members independent, no flags
Part VIII · Statement of revenue $4,128,330 across 3 lines filed
Part IX · Statement of functional expenses $3,908,557 across 15 lines filed
Part X · Balance sheet $3,401,192 assets, 13 lines filed
Part XI · Reconciliation of net assets $2,988,181 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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