philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Developspringfield Corporation FY2020 filing

Tax-deductible

Springfield, MA501(c)(3)Community Development EIN 26-3862976Revenue $277K in FY2020

On file with the IRSdevelopspringfield.comOne Monarch Place, 01144-1099 · Springfield, MATax-exempt since Mar 2010Publicly supported charity — 170(b)(1)(A)(vi)

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

To aid development or redevelopment in the city of springfield, massachusetts.

501(c)(3) charity; gifts are tax-deductible.
47¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $335K a year · 1686% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
47%
of spending
Concern: 47% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
13 mo
of spending, in cash
Plus $5.1M in investments, Pt X · Ln 11–13
Looks good: 12.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$277K
Spent
$434K
To programs
47%
Net assets
$5.7M
By yearFY2020–FY2025
Revenue
$277K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$277K
FY2021$374K
FY2022$167K
FY2023−$869K
FY2023$40K
FY2024−$299K
FY2025$469K
Expenses
$434K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$434K
FY2021$202K
FY2022$196K
FY2023$164K
FY2023$101K
FY2024$366K
FY2025$767K
Net assets
$5.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$5.7M
FY2021$6.0M
FY2022$5.3M
FY2023$4.2M
FY2023$4.1M
FY2024$3.5M
FY2025$3.2M

From the FY2020 Form 990 (year ending June 2020) · see the original

Give Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

47 cents of each dollar spent went to programs.

Program services 47% · $203K Management & general 53% · $230K Fundraising 0% · $233

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

38 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Developspringfield Corporation executive salaries →

On this list? Claim this org

Something off? Claim to add context

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 15aNo

Programs and updates

Helps develop or redevelop the city of Springfield, Massachusetts.

Questions for Developspringfield Corporation

Tap to ask. Developspringfield Corporation sees how many people are interested.

Your first name shows with your question. Developspringfield Corporation answers here, for everyone.

Provided by the organization

Know this org? Add your story

2 programs · $406K · in their own filed words · FY2019
01

Advance development and redevelopment projects, to stimulate and support economic growth, and to expedite the revitalization process within the city of springfield.

$203Kprogram expense
02

Advance development and redevelopment projects, to stimulate and support economic growth, and to expedite the revitalization process within the city of springfield.

$203Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Give Music INCFY2022$25K
Total grants receivedfrom 1 funder$25K
Grants paid · 2 grants · $20K · 2019–2019
276 Bridge LLC - Springfield Innovation CenterFY2019$10,000
276 Bridge LLC - Springfield Innovation CenterFY2019$10,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$277K
Ln 12
Gifts and grantsLn 1h$147K
Other incomeLn 4–11$93K
Investment incomeLn 3$20K
Money outPt IX
$434K
Ln 25
Programscol B$203K
Managementcol C$230K
Fundraisingcol D$233
Owns and owesPt X
$5.7M
net assets · Ln 32
Cash and savingsLn 1–2$458K
Total assetsLn 16$6.9M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
38
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$147K
Government grantsLn 1e$56K
Fees for servicesLn 2g$18K
Investment incomeLn 3$20K
Other incomeLn 4–11$93K
Total revenueLn 12$277K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$458K
Total assetsLn 16$6.9M
LiabilitiesLn 26$1.2M
Net assetsLn 32$5.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $469K$767K−$298K$3.2M 990 PDF
FY2024 −$299K$366K−$665K$3.5M 990 PDF
FY2023 −$869K$164K−$1.0M$4.2M 990 PDF
FY2022 $167K$196K−$30K$5.3M 990 PDF
FY2021 $374K$202K$171K$6.0M 990 PDF
FY2020 Viewing $277K$434K−$156K$5.7M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support O · Explanations
See the full FY2020 990 (1 part)
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.