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Ferdinand Building Development Corp FY2023 filing

Tax-deductible

Boston, MA501(c)(3)Education EIN 45-3587147Revenue $163K in FY2023Latest return filed Apr 17, 2026

On file with the IRScityofboston.govBoston, MATax-exempt since Dec 2011Supporting org, Type I — 509(a)(3)

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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. The most significant activities have been to acquire the site, finance, construct and lease a 215,000 square foot Building in dudley square in boston, ma, to be occupied by bps, and leased to the city of boston.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average deficit $4.0M a year · 303% of revenue · last 6 filings
A surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
100% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
285.6 mo
of spending, in cash
285.6 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$404K
16% of total assets
Liabilities are 16% of assets.
Pt X · Ln 26
Independent board members
0
of 3 voting members
None of 3 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$163K
-5% vs prior year
Spent
$96K
To programs
100%
Net assets
$2.1M
By yearFY2020–FY2025
Revenue
$163K
FY2023▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$5.1M
FY2022$172K
FY2023$163K
FY2024$234K
FY2025$236K
Expenses
$96K
FY2023▼ -64%
Tap a bar for its year
Expenses by fiscal year
FY2020$31.0M
FY2021$310K
FY2022$269K
FY2023$96K
FY2024$2K
FY2025$8K
Net assets
$2.1M
FY2023▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020−$2.7M
FY2021$2.1M
FY2022$2.1M
FY2023$2.1M
FY2024$2.4M
FY2025$2.6M

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 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 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.

Program services 100% · $96K

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

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Dion Irish
Chief of Operations
$0Pt VII · Sec A
$0Pt VII · Sec A
Segun Idowu
Chief of Economic Opportunity & Inclusion/Clerk
$0Pt VII · Sec A
Brianna Millor
Chief of Community Engagement
$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 · $96K · in their own filed words · FY2022
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.

$96Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$163K
Ln 12
Fees for servicesLn 2g$163K
Money outPt IX
$96K
Ln 25
Programscol B$96K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$2.5M
LiabilitiesLn 26$404K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$163K
Total revenueLn 12$163K
Assets in detailPt X, end of year
CashLn 1$2.3M
SavingsLn 2$41K
Cash and savings togetherLn 1–2$2.3M
Accounts receivableLn 4$5K
Land, buildings, equipmentLn 10c$112K
Other assetsLn 15$138K
Total assetsLn 16$2.5M
LiabilitiesLn 26$404K
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
LineStart FY23End FY23
Cash and savingsLn 1–2$2.1M$2.3M
Land, buildings, equipmentLn 10c$0$112K
Total assetsLn 16$2.4M$2.5M
LiabilitiesLn 26$300K$404K
Net assetsLn 32$2.1M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Investment management feesLn 11f$177$177
InterestLn 20$603$603
Depreciation, depletion and amortizationLn 22$72K$72K
Other expenses (24a–d)Ln 24$23K$23K
Total functional expensesLn 25$96K$96K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
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
FY2023 ViewingFiled 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
FY2021Filed 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 FY2023 990
Part I · Summary $163,102 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $172,078$163,102
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $172,078$163,102
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 $268,528$96,452
I-18 Total expensesPrior year $268,528$96,452
I-19 Revenue less expensesPrior year −$96,450$66,650
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 $163,102 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $163,102$163,102
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $163,102$163,102
Part IX · Statement of functional expenses $96,452 across 4 lines filed
IX-11f Investment management feesPrograms $177$177
IX-20 InterestPrograms $603$603
IX-22 Depreciation, depletion and amortizationPrograms $72,445$72,445
IX-24 Other expenses (24a–d)Programs $23,227$23,227
IX-25 Total functional expensesPrograms $96,452 · Management $0 · Fundraising $0$96,452
Part X · Balance sheet $2,549,642 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,067,063$2,254,143
X-2 Savings and temporary cash investmentsStart of year $52,852$41,088
X-4 Accounts receivableStart of year $4,622$4,622
X-10c Land, buildings and equipment, netStart of year $0$112,146
X-15 Other assetsStart of year $254,542$137,643
X-16 Total assetsStart of year $2,379,079$2,549,642
X-17 Accounts payable and accrued expensesStart of year $5,979$0
X-25 Other liabilitiesStart of year $293,625$403,517
X-26 Total liabilitiesStart of year $299,604$403,517
X-27 Net assets without donor restrictionsStart of year $2,079,475$2,146,125
X-32 Total net assets or fund balancesStart of year $2,079,475$2,146,125
X-33 Total liabilities and net assetsStart of year $2,379,079$2,549,642
Part XI · Reconciliation of net assets $2,146,125 net assets at year end
XI-1 Total revenue$163,102
XI-2 Total expenses$96,452
XI-3 Revenue less expenses$66,650
XI-4 Net assets at start of year$2,079,475
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,146,125

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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