2023-11-08T16:54:47-06:00 2022-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-01-01 043246555 BLUEHUB CAPITAL INC BLUE 6174278600 10 MALCOLM X BOULEVARD GROUND FLOO BOSTON MA 02119 LISA ZAPPALA CHIEF FINANCIAL OFFICER 6174278600 2023-11-06 1 LISA ZAPPALA XXX-XX-XXXX 0 MATTHEW MCGINNIS CPA P01585083 5083669100 2023-11-06 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LISA ZAPPALA 10 MALCOLM X BOULEVARD GROUND FLOOR BOSTON MA 02119 3014300 0 X HTTPS://BLUEHUBCAPITAL.ORG X 1994 MA TO PROVIDE BELOW MARKET RATE CAPITAL TO COMMUNITY BASED ORGANIZATIONS FOR DEVELOPMENT OF AFFORDABLE HOUSING AND TO PROVIDE BROADER COMMUNITY LENDING THAT DIRECTLY OR INDIRECTLY BENEFITS LOW INCOME OR DISADVANTAGED PEOPLE OR COMMUNITIES. 12 9 50 9 0 0 82475 1110623 1969454 1882756 37589 20791 0 130 2089518 3014300 0 0 0 0 553256 614918 0 0 111317 1666059 2670107 2219315 3285025 -129797 -270725 18553228 16146415 7446400 4936595 11106828 11209820 TO PROVIDE BELOW MARKET RATE CAPITAL TO COMMUNITY BASED ORGANIZATIONS FOR DEVELOPMENT OF AFFORDABLE HOUSING AND TO PROVIDE BROADER COMMUNITY LENDING THAT DIRECTLY OR INDIRECTLY BENEFITS LOW INCOME OR DISADVANTAGED PEOPLE OR COMMUNITIES. 0 0 472382 130 BLUEHUB CAPITAL WAS FORMED AS A HOLDING COMPANY THAT OVERSEES ADMINISTRATION, FINANCE, HUMAN RESOURCES, AND INVESTOR RELATIONS FOR THE ORGANIZATION AND ITS AFFILIATES. THE HOLDING COMPANY HAS ACTED AS DEVELOPER FOR ALL SOLAR ENERGY PROJECTS OWNED AND OPERATED TO DATE BY SOLAR ENERGY ADVANTAGE, INC., A CORPORATION WHICH IT OWNS 100% (SEE SCHEDULE R) AND HAS EARNED DEVELOPER FEES FOR THESE SERVICES. THESE DEVELOPER FEES FOR ALL FUTURE PROJECTS ARE NOW EARNED BY SOLAR ENERGY ADVANTAGE INC. DIRECTLY AND WILL NO LONGER BE INCLUDED ON SCHEDULE R. 1927303 1882756 NSP RESIDENTIAL, LLC (NSP) WAS FORMED TO COMBAT COMMUNITY DETERIORATION AND IMPROVE GENERAL CONDITIONS WHERE LOW-INCOME PEOPLE LIVE AND WORK. NSP PURCHASES RESIDENTIAL PROPERTIES AND REHABILITATES THEM TO RENT OR SELL TO LOW-INCOME INDIVIDUALS. 2399685 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 8 0 1 50 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MA X E MATTHEW GAUTIERI CONTROLLER 6174278600 10 MALCOLM X BOULEVARD GROUND FLOOR BOSTON MA 02119 SARAH C LINCOLN TREASURER OF THE BOARD 1.00 4.00 X X 0 0 0 MICHELLE VOLPE PRESIDENT, LOAN FUND (UNTIL 4/22) & EX-OFFICIO 0.00 40.00 X X 0 126776 106440 DEWITT JONES EXECUTIVE VP & EX-OFFICIO 4.00 36.00 X X 35271 317436 136548 REVEREND JAMES WALSH SJ CLERK OF THE BOARD 1.00 4.00 X X 0 0 0 CHARLES CLARK CHAIRMAN OF THE BOARD 1.00 4.00 X X 0 0 0 ELYSE CHERRY CEO & EX-OFFICIO BOARD MEMBER 6.00 34.00 X X 119720 678414 209792 EDWARD DUGGER III BOARD MEMBER 1.00 4.00 X 0 0 0 JULIE GOULD BOARD MEMBER 1.00 4.00 X 0 0 0 MARIA MAFFEI BOARD MEMBER 1.00 4.00 X 0 0 0 MERCEDES TOMPKINS BOARD MEMBER 1.00 4.00 X 0 0 0 VICTOR R RIVERA BOARD MEMBER 1.00 4.00 X 0 0 0 REESE FAYDE BOARD MEMBER 1.00 4.00 X 0 0 0 MICHAEL NILLES INTERIM PRESIDENT, LOAN FUND & EX-OFFICIO 0.00 40.00 X X 0 277073 48554 LISA ZAPPALA CFO 12.00 28.00 X 92114 214932 109828 E MATTHEW GAUTIERI SVP, CONTROLLER 12.00 28.00 X 73145 170671 55224 ANDREW KOH SVP, OPERATIONS 40.00 0.00 X 215611 0 64137 JAIME ESCOTT SVP, DIGITAL MARKETING OPA 0.00 40.00 X 0 238710 15203 KATHRYN MCHUGH SVP, COMMERCIAL LENDING 0.00 40.00 X 0 223889 39086 LUBNA ELIA CHIEF ADMINISTRATIVE OFFICER 40.00 0.00 X 231098 0 16968 766959 2247901 801780 3 0 1 0 SHERIN AND LODGEN 101 FEDERAL STREET BOSTON MA 02110 LEGAL SERVICES 1515297 TECHNICAL SUPPORT INTERNATIONAL INC 10 MECHANIC STREET FOXBOROUGH MA 02035 IT NETWORK SUPPORT 162219 BERLIN ROSEN LTD 14 MALDEN LANE SUITE 1600 NEW YORK NY 10038 MARKETING WEB DESIGN 140783 RISK STRATEGIES 160 FEDERAL STREET BOSTON MA 02110 INSURANCE 133659 SHANNON WEISS 2 OLD SANDWICH ROAD PLYMOUTH MA 02360 HR RECRUITING 109835 7 1064225 46398 1110623 PROGRAM REVENUE & FEES 900099 1882756 1882756 1882756 20791 20791 MISCELLANEOUS REVENUE 900099 130 130 130 3014300 1882886 0 20791 322677 216517 103257 2903 210162 32428 172834 4900 11474 11071 389 14 42031 10581 30585 865 28574 11655 16454 465 2048319 2048319 176578 171722 4856 91775 91775 199848 195845 4003 153587 69114 82937 1536 3285025 2399685 774023 111317 10873923 8418894 451229 456892 2000 215887 225641 1531769 1243102 436129 288667 800000 800000 5776060 5954321 18553228 16146415 1980058 1634051 3175775 2683792 1259604 1030963 618752 7446400 4936595 X 10630297 10789314 476531 420506 11106828 11209820 18553228 16146415 X -270725 373717 X X 0 1 X 1 1 1 X 65161 84575 116428 82475 1110623 1459262 2333722 3176730 1853910 1969454 1882756 11216572 2398883 3261305 1970338 2051929 2993379 12675834 21545 21545 21604 64694 1197869 1721612 1001979 1087663 1225987 6235110 1219414 1743157 1023583 1087663 1225987 6299804 6376030 6159 63431 152726 37589 20791 280696 6159 63431 152726 37589 20791 280696 130 130 2405042 3324736 2123064 2089518 3014300 12956660 0.49210 0.53690 0.02170 0.01860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 1197777 964789 232988 333992 278313 55679 288667 ESCROW FUNDS 2683792 DUE FROM AFFILIATE 1477902 RIGHT OF USE LEASE ASSET 618578 RESTRICTED DEPOSITS 1174049 5954321 LEASE OBLIGATION 618578 DUE TO AFFILIATES 174 618752 X PART IV, LINE 2B: BLUEHUB CAPITAL HELD A CASH BALANCE OF $2,683,792 IN ESCROW FOR OUTSIDE PARTIES AS OF 12/31/22, OF WHICH $2,683,792 IS RESERVE MONEY HELD BY BLUEHUB CAPITAL FOR FEDERAL RESERVE BANK OF BOSTON. PART X, LINE 2: THE CORPORATION AND ITS OPERATING AFFILIATES ACCOUNT FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CORPORATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2022. THE CORPORATION DOES NOT EXPECT THAT THE AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT TWELVE-MONTHS. X X X X 0 1 0 0 0 0 0 0 0 ELYSE CHERRY CEO & EX-OFFICIO BOARD MEMBER 71720 406414 48000 272000 0 0 32995 165305 1724 9768 154439 853487 0 0 DEWITT JONES EXECUTIVE VP & EX-OFFICIO 29271 263436 6000 54000 0 0 16955 91345 2825 25423 55051 434204 0 0 LISA ZAPPALA CFO 71114 165932 21000 49000 0 0 20264 86866 809 1889 113187 303687 0 0 MICHAEL NILLES INTERIM PRESIDENT, LOAN FUND & EX-OF 0 238073 0 39000 0 0 0 17479 0 31075 0 325627 0 0 E MATTHEW GAUTIERI SVP, CONTROLLER 62090 144876 11055 25795 0 0 4266 9954 12301 28703 89712 209328 0 0 ANDREW KOH SVP, OPERATIONS 184986 0 30625 0 0 0 12750 0 51387 0 279748 0 0 0 KATHRYN MCHUGH SVP, COMMERCIAL LENDING 0 187842 0 36047 0 0 0 8311 0 30775 0 262975 0 0 JAIME ESCOTT SVP, DIGITAL MARKETING OPA 0 215260 0 23450 0 0 0 13740 0 1463 0 253913 0 0 LUBNA ELIA CHIEF ADMINISTRATIVE OFFICER 211098 0 20000 0 0 0 14340 0 2628 0 248066 0 0 0 MICHELLE VOLPE PRESIDENT, LOAN FUND (UNTIL 4/22) & 0 61776 0 65000 0 0 15125 84588 0 6727 15125 218091 0 0 PART I, LINE 4B ELYSE CHERRY, CEO, 457F PLAN. DEWITT JONES, EXECUTIVE VP, 457F PLAN. MICHELLE VOLPE, SENIOR VP, 457F PLAN. LISA ZAPPALA, CFO, 457F PLAN. FORM 990, PART VI, SECTION B, LINE 11B THE CEO, CFO, CONTROLLER, AND FINANCE COMMITTEE REVIEW THE 990 BEFORE GOING TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE CONTROLLER REVIEWS THE ANNUAL SIGNED CONFLICT OF INTEREST POLICIES FOR ANY CONFLICTS TO BE DISCLOSED TO THE BOARD. IF CONFLICTS ARISE, THEY ARE ADDRESSED ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 15 EVERY FEW YEARS, A SALARY SURVEY OF THE INDUSTRY IS PERFORMED TO ENSURE THAT THE ORGANIZATION'S SALARY EXPENSES ARE REASONABLE. THE EXECUTIVE COMMITTEE OF THE BOARD MEETS TO SET THE SALARY RANGES FOR ALL POSITIONS AND TO APPROVE THE CEO'S COMPENSATION FOR THE YEAR. THE EXECUTIVE COMMITTEE KEEPS MINUTES OF EACH MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS WITHOUT DONOR RESTRICTIONS 407,000. 457 INVESTMENT LOSS -33,283. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS AND CFO ARE RESPONSIBLE FOR THE REVIEW OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. NSP RESIDENTIAL LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 263638703 TO COMBAT COMMUNITY DETERIORATION IN LOW-INCOME AREAS. MA 1900972 8387362 BLUEHUB CAPITAL INC BCC SEA INVESTMENT FUND MANAGER LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 275485348 TO COMBAT COMMUNITY DETERIORATION IN LOW-INCOME AREAS. MA 0 0 BLUEHUB CAPITAL INC BCLF VENTURES INC 10 MALCOLM X BOULEVARD BOSTON MA 02119 043246552 COMMUNITY VENTURE CAPITAL MA 501(C)(3) LINE 10 BLUEHUB CAPITAL INC 1 BCLF MANAGED ASSETS CORP 10 MALCOLM X BOULEVARD BOSTON MA 02119 043246547 DEVELOPS NEW BUSINESS INITIATIVES AND FUNDING VEHICLES FOR LOW INCOME MA 501(C)(3) PF BLUEHUB CAPITAL INC 1 BLUEHUB LOAN FUND INC 10 MALCOLM X BOULEVARD BOSTON MA 02119 222593378 COMMUNITY LENDING MA 501(C)(3) LINE 10 BLUEHUB CAPITAL INC 1 ONE PERCENT FOR AMERICA INC 10 MALCOLM X BOULEVARD BOSTON MA 02119 862813192 COMMUNITY LENDING MA 501(C)(3) LINE 10 BLUEHUB CAPITAL INC 1 BCLF VENTURES II LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 043541544 TO MAKE INVESTMENTS IN BUSINESS THAT BENEFIT LOW-INCOME PEOPLE AND COMM. MA N/A 0 0 SUN INITIATIVE FINANCING LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 271367185 TO FINANCE THE OPERATIONS OF THE STABILIZING URBAN NEIGHBORHOODS INITIATIVE MA NSP RESIDENTIAL LLC RELATED -231769 14887803 0 1 0.50000 BCC NMTC CDE XXIII LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 452572463 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXIV LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472160326 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXVI LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472166990 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXVIII LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472180069 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXIX LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472180884 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXXI LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472194680 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXII LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 452572349 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXXII LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472203495 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXXIII LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472203766 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXXIV LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 820956337 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC NMTC CDE XXX LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472194307 TO SYNDICATE ALLOCATION OF NEW MARKET TAX CREDITS MA N/A 0 0 BCC SOLAR ENERGY ADVANTAGE INC 10 MALCOLM X BOULEVARD BOSTON MA 02119 262877536 TO FACILITATE THE DELIVERY OF SOLAR ENERGY TO AFFORDABLE HOUSING PROJECTS MA BLUEHUB CAPITAL INC C -345102 2704862 1.00000 1 BCC NMTC CDE XXV LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472160720 TO FACILITATE THE DELIVERY OF SOLAR ENERGY TO AFFORDABLE HOUSING PROJECTS MA N/A C 0 BCC NMTC CDE XXVII LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 472167286 TO FACILITATE THE DELIVERY OF SOLAR ENERGY TO AFFORDABLE HOUSING PROJECTS MA N/A C 0 BCC NMTC CDE XXI LLC 10 MALCOLM X BOULEVARD BOSTON MA 02119 452572240 TO FACILITATE THE DELIVERY OF SOLAR ENERGY TO AFFORDABLE HOUSING PROJECTS MA N/A C 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 BLUEHUB LOAN FUND INC O 3562102 CONTRACT TERMS BLUEHUB LOAN FUND INC N 487948 CONTRACT TERMS BCLF MANAGED ASSETS O 730274 CONTRACT TERMS BCLF VENTURES INC O 62819 CONTRACT TERMS ONE PERCENT FOR AMERICA INC O 1035093 CONTRACT TERMS BCLF MANAGED ASSETS N 67144 CONTRACT TERMS