Dorchester Bay Economic Development Corporation

Analysis

Dorchester Bay Economic Development Corporation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in November 1980, 46 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Dorchester Bay Economic Development Corporation reported income of $12.6m and spending of $8.2m, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.0m to $12.6m (+4.7%), an average of +1.2% a year. The sharpest change came in the year to December 2021, when income rose by 84%. Over the whole period it spent 59% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Dorchester Bay Economic Development Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Haywood Vocational Opportunities Inc ($12.6m), Transcom Inc ($12.6m) and Proact Inc ($12.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $493k (6.0% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $53.9m against liabilities of $29.7m, net assets of $24.3m. It reported 46 employees.