Ferdinand Building Development Corp: FY2021 Nonprofit Profile & Form 990 (EIN 45-3587147)

Revenue by fiscal year
FY2020	$2.0M
FY2021	$5.1M
FY2022	$172K
FY2023	$163K
FY2024	$234K
FY2025	$236K

Expenses by fiscal year
FY2020	$31.0M
FY2021	$310K
FY2022	$269K
FY2023	$96K
FY2024	$2K
FY2025	$8K

Net assets by fiscal year
FY2020	−$2.7M
FY2021	$2.1M
FY2022	$2.1M
FY2023	$2.1M
FY2024	$2.4M
FY2025	$2.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2011.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $310K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Midori Morikawa Oser

Clerk

$0Pt VII · Sec A

Maureen Garceau

1st Asst. Collector/Treasurer

$0Pt VII · Sec A

Dion Irish

Treasurer

$0Pt VII · Sec A

Richard Depiano

2nd Asst. Collector/Treasurer

$0Pt VII · Sec A

Emme Handy

Former President

$0Pt VII · Sec A

John Barros

Former Clerk

$0Pt VII · Sec A

Patrick Brophy

Former Treasurer

$0Pt VII · Sec A

Justin Sterritt

Former President

$0Pt VII · Sec A

See Ferdinand Building 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 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops economic opportunities and builds a new school headquarters in an underserved Boston neighborhood.

Questions for Ferdinand Building Development Corp

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1 program · $310K · in their own filed words · FY2020

01

To stimulate new economic development in one of boston's most underdeveloped neighborhoods, as well as to locate a new boston public schools ("BPS") headquarter in the demographic center of boston's school population.

$310Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$5.1M

Ln 12

Other incomeLn 4–11$4.9M

Fees for servicesLn 2g$193K

Money outPt IX

$310K

Ln 25

Programscol B$310K

Owns and owesPt X

$2.1M

net assets · Ln 32

Cash and savingsLn 1–2$2.1M

Total assetsLn 16$2.3M

LiabilitiesLn 26$184K

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$193K

Other incomeLn 4–11$4.9M

Total revenueLn 12$5.1M

Assets in detailPt X, end of year

CashLn 1$2.1M

SavingsLn 2$38K

Cash and savings togetherLn 1–2$2.1M

Accounts receivableLn 4$149K

Other assetsLn 15$10K

Total assetsLn 16$2.3M

LiabilitiesLn 26$184K

Net assetsLn 32$2.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 63

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$1.6M	$2.1M
Total assetsLn 16	$7.7M	$2.3M
LiabilitiesLn 26	$10.3M	$184K
Net assetsLn 32	−$2.7M	$2.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$6K	$6K
Investment management feesLn 11f	$202	$202
Other expenses (24a–d)Ln 24	$304K	$304K
Total functional expensesLn 25	$310K	$310K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS Apr 17, 2026	$236K	$8K	$227K	$2.6M	990 PDF
FY2024Filed with the IRS Apr 24, 2025	$234K	$2K	$232K	$2.4M	990 PDF
FY2023Filed with the IRS May 13, 2024	$163K	$96K	$67K	$2.1M	990 PDF
FY2022Filed with the IRS May 15, 2023	$172K	$269K	−$96K	$2.1M	990 PDF
FY2021 ViewingFiled with the IRS May 11, 2022	$5.1M	$310K	$4.8M	$2.1M	990 PDF
FY2020Filed with the IRS Apr 14, 2021	$2.0M	$31.0M	−$29.0M	−$2.7M	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2021 990

Part I · Summary $5,072,504 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $1,983,727$193,437

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$4,879,067

I-12 Total revenuePrior year $1,983,727$5,072,504

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $30,997,779$310,395

I-18 Total expensesPrior year $30,997,779$310,395

I-19 Revenue less expensesPrior year −$29,014,052$4,762,109

Part VI · Governance 0 of 3 board members independent, 1 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members0

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

Part VIII · Statement of revenue $5,072,504 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $193,437$193,437

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,879,067$4,879,067

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $5,072,504$5,072,504

Part IX · Statement of functional expenses $310,395 across 3 lines filed

IX-11c Accounting feesPrograms $5,750$5,750

IX-11f Investment management feesPrograms $202$202

IX-24 Other expenses (24a–d)Programs $304,443$304,443

IX-25 Total functional expensesPrograms $310,395 · Management $0 · Fundraising $0$310,395

Part X · Balance sheet $2,286,335 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $1,602,415$2,089,331

X-2 Savings and temporary cash investmentsStart of year $1,088$38,414

X-4 Accounts receivableStart of year $6,058,465$148,862

X-15 Other assetsStart of year $7$9,728

X-16 Total assetsStart of year $7,661,975$2,286,335

X-17 Accounts payable and accrued expensesStart of year $5,658$5,797

X-19 Deferred revenueStart of year $9,616,866$73,478

X-25 Other liabilitiesStart of year $699,114$104,614

X-26 Total liabilitiesStart of year $10,321,638$183,889

X-27 Net assets without donor restrictionsStart of year −$2,659,663$2,102,446

X-32 Total net assets or fund balancesStart of year −$2,659,663$2,102,446

X-33 Total liabilities and net assetsStart of year $7,661,975$2,286,335

Part XI · Reconciliation of net assets $2,102,446 net assets at year end

XI-1 Total revenue$5,072,504

XI-2 Total expenses$310,395

XI-3 Revenue less expenses$4,762,109

XI-4 Net assets at start of year−$2,659,663

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$2,102,446

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Ferdinand Building Development Corp FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Ferdinand Building Development Corp

By the numbers

Filing history

Schedules filed Part IV