BRIGHTWOOD DEVELOPMENT CORP: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- BRIGHTWOOD DEVELOPMENT CORP (EIN 04-2622178)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-11-15
- IRS object ID
- 201643209349301219
- Schema version
- 2015v2.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-11-15T06:17:56-08:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Maletta & Company | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 43 Enterprise Drive | AddressLine1Txt |
| City | Bristol | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 060107457 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042622178 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRIGHTWOOD DEVELOPMENT CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BRIG | BusinessNameControlTxt |
| Phone | 4137342144 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2345 MAIN STREET | AddressLine1Txt |
| City | SPRINGFIELD | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01107 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HERIBERTO FLORES | PersonNm |
| Person Title | President & CEO | PersonTitleTxt |
| Signature | 2016-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MICHAEL A MALETTA CPA | PreparerPersonNm |
| PTIN | P00435529 | PTIN |
| Phone | 8605826715 | PhoneNum |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,460,136 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| All Affiliates Included | false | AllAffiliatesIncludedInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1977 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TO PROMOTE ECONOMIC AND COMMUNITY DEVELOPMENT IN THE SPRINGFIELD, MA AREA AND PUERTO RICO THROUGH ON-GOING ASSISTANCE AND SUPPORT IN THE AREAS OF JOB PLACEMENT, NEW AND EXISTING BUSINESS DEVELOPMENT, ENTREPRENEURIAL ACTIVITIES, AND HOUSING. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 5 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $650,205 | PYContributionsGrantsAmt |
| CY Contributions Grants | $496,612 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $878,796 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $904,694 | CYProgramServiceRevenueAmt |
| PY Investment Income | $383 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,584 | CYInvestmentIncomeAmt |
| PY Other Revenue | $23,886 | PYOtherRevenueAmt |
| CY Other Revenue | $57,246 | CYOtherRevenueAmt |
| PY Total Revenue | $1,553,270 | PYTotalRevenueAmt |
| CY Total Revenue | $1,460,136 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $406,662 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $442,971 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,234,941 | PYOtherExpensesAmt |
| CY Other Expenses | $1,135,005 | CYOtherExpensesAmt |
| PY Total Expenses | $1,641,603 | PYTotalExpensesAmt |
| CY Total Expenses | $1,577,976 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$88,333 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$117,840 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $5,611,335 | TotalAssetsBOYAmt |
| Total Assets EOY | $5,461,736 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,940,091 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,907,832 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,671,244 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,553,904 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROMOTE ECONOMIC AND COMMUNITY DEVELOPMENT IN THE SPRINGFIELD, MA AREA AND PUERTO RICO THROUGH ON-GOING ASSISTANCE AND SUPPORT IN THE AREAS OF JOB PLACEMENT, NEW AND EXISTING BUSINESS DEVELOPMENT, ENTREPRENEURIAL ACTIVITIES, AND HOUSING. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $466,566 | ExpenseAmt |
| Desc | BRIGHTWOOD DEVELOPMENT CORPORATION - TO PROMOTE ECONOMIC DEVELOPMENT IN THE SPRINGFIELD, MA AREA THROUGH ON-GOING ASSISTANCE AND SUPPORT IN THE AREAS OF JOB PLACEMENT, NEW AND EXISTING BUSINESS DEVELOPMENT, ENTREPRENEURSHIP, AND HOUSING. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $456,732 | ExpenseAmt |
| Revenue | $401,869 | RevenueAmt |
| Desc | MEMORIAL SQUARE APARTMENTS - 40 UNIT MULTIPLE FAMILY HOUSING TO PROVIDE HOUSING TO LOW INCOME FAMILIES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $356,714 | ExpenseAmt |
| Revenue | $292,519 | RevenueAmt |
| Desc | VILLA TAINO APARTMENTS - 30 UNIT USDA RD RURAL HOUSING MULTIPLE FAMILY HOUSING PROPERTY TO PROVIDE SUBSIDIZED HOUSING TO AREA FARM WORKERS AND THEIR FAMILIES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $245,883 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $213,078 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $1,525,895 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 6 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 5 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | false | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Form8282 Filed | 0 | Form8282FiledCnt |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Org Filed In Lieu Of Form1041 | false | OrgFiledInLieuOfForm1041Ind |
| Licensed More Than One State | false | LicensedMoreThanOneStateInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | false | MinutesOfGoverningBodyInd |
| Minutes Of Committees | false | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | false | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | false | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | false | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MAGGIE RIVERA | PersonNm |
| Phone | 4137463844 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2460 MAIN ST SUITE 112 | AddressLine1Txt |
| City | SPRINGFIELD | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01107 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| HERIBERTO FLORES | |||||||
| President | 15.00 | 40.50 | Yes (X) | Yes (X) | $0 | $228,874 | $7,480 |
| NORMAN ROLDAN | |||||||
| Secretary | 2.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| CECILIO RIVERA | |||||||
| Treasurer | 2.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| VANESSA OTERO | |||||||
| Vice President | 2.00 | 40.00 | Yes (X) | Yes (X) | $0 | $105,480 | $4,476 |
| RUSSELL OMER | |||||||
| Chairman | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Reportable Comp Rltd Org | $334,354 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $11,956 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $496,612 | GovernmentGrantsAmt |
| Total Contributions | $496,612 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LA PLAZA DEL MERCADO | 531120 | $210,306 | $210,306 |
| MEMORIAL SQUARE APARTMENT | 531110 | $401,869 | $401,869 |
| VILLA TAINO | 531110 | $292,519 | $292,519 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $904,694 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,584 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,584 | RelatedOrExemptFuncIncomeAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| COMMISSIONS | 900099 | $41,167 | $41,167 |
| OTHER INCOME | 900099 | $16,079 | $16,079 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $57,246 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,460,136 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $963,524 | RelatedOrExemptFuncIncomeAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $377,297 | TotalAmt |
| Program Services | $377,297 | ProgramServicesAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,786 | TotalAmt |
| Program Services | $49,786 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,888 | TotalAmt |
| Program Services | $15,888 | ProgramServicesAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,576 | TotalAmt |
| Program Services | $65,807 | ProgramServicesAmt |
| Management And General | $769 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,755 | TotalAmt |
| Program Services | $6,755 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,250 | TotalAmt |
| Program Services | $17,250 | ProgramServicesAmt |
| Management And General | $10,000 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,260 | TotalAmt |
| Program Services | $2,260 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,953 | TotalAmt |
| Program Services | $36,897 | ProgramServicesAmt |
| Management And General | $2,056 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $361,121 | TotalAmt |
| Program Services | $355,448 | ProgramServicesAmt |
| Management And General | $5,673 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,327 | TotalAmt |
| Program Services | $8,327 | ProgramServicesAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,084 | TotalAmt |
| Program Services | $93,020 | ProgramServicesAmt |
| Management And General | $7,064 | ManagementAndGeneralAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $219,559 | TotalAmt |
| Program Services | $219,055 | ProgramServicesAmt |
| Management And General | $504 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,378 | TotalAmt |
| Program Services | $4,378 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| REPAIRS & MAINTENANCE | $144,117 | $140,657 | $3,460 |
| PROJECT COSTS | $40,605 | $40,227 | $378 |
| PERMITS, TAXES, FILING FEES | $28,242 | $27,742 | $500 |
| BOOKKEEPING | $27,432 | $8,232 | $19,200 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,346 | TotalAmt |
| Program Services | $56,869 | ProgramServicesAmt |
| Management And General | $2,477 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,577,976 | TotalAmt |
| Program Services | $1,525,895 | ProgramServicesAmt |
| Management And General | $52,081 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $66,992 | BOYAmt |
| EOY | $60,034 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,267 | BOYAmt |
| EOY | $3,300 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,054 | BOYAmt |
| EOY | $90,156 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,831 | BOYAmt |
| EOY | $6,895 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $8,063,012 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,024,981 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,227,225 | BOYAmt |
| EOY | $5,038,031 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,750 | BOYAmt |
| EOY | $17,250 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $242,216 | BOYAmt |
| EOY | $246,070 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,611,335 | BOYAmt |
| EOY | $5,461,736 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $395,377 | BOYAmt |
| EOY | $461,248 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,652 | BOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,472,604 | BOYAmt |
| EOY | $2,412,434 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,458 | BOYAmt |
| EOY | $34,150 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,940,091 | BOYAmt |
| EOY | $2,907,832 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,671,244 | BOYAmt |
| EOY | $2,553,904 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,671,244 | BOYAmt |
| EOY | $2,553,904 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,611,335 | BOYAmt |
| EOY | $5,461,736 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$117,840 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $500 | NetUnrlzdGainsLossesInvstAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | false | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $913,764 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $922,199 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $567,457 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $650,205 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $496,612 | CurrentTaxYearAmt |
| Total | $3,550,237 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $913,764 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $922,199 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $567,457 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $650,205 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $496,612 | CurrentTaxYearAmt |
| Total | $3,550,237 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $0 | SubstantialContributorsTotAmt |
| Public Support Total170 | $3,550,237 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $976 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $533 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $441 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $383 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,584 | CurrentTaxYearAmt |
| Total | $3,917 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,275 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,200 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,200 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,200 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,200 | CurrentTaxYearAmt |
| Total | $7,075 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $3,561,229 | TotalSupportAmt |
| Public Support CY170 | 0.99690 | PublicSupportCY170Pct |
| Public Support PY170 | 0.99680 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $559,656 | OtherCostOrOtherBasisAmt |
| Book Value | $559,656 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,903,155 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,900,861 | DepreciationAmt |
| Book Value | $4,002,294 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $204,199 | OtherCostOrOtherBasisAmt |
| Depreciation | $23,943 | DepreciationAmt |
| Book Value | $180,256 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $386,205 | OtherCostOrOtherBasisAmt |
| Depreciation | $93,911 | DepreciationAmt |
| Book Value | $292,294 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,797 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,266 | DepreciationAmt |
| Book Value | $3,531 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,038,031 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DEPOSITS PAYABLE | $34,148 |
| Rounding | $2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $34,150 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $1,902,132 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $500 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $482,662 | OtherRevenueAmt |
| Revenue Not Reported | $483,162 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,418,970 | RevenueSubtotalAmt |
| Other Revenues Not Included | $41,166 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $41,166 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,460,136 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,965,197 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $428,387 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $428,387 | ExpensesNotReportedAmt |
| Expenses Subtotal | $1,536,810 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $41,166 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $41,166 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,577,976 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part X : FIN48 Footnote | Under provisions of the U.S. Internal Revenue Code, section 501(c)(3), BDC is exempt from taxes on income, other than unrelated business income, and accordingly does not record a provision for income taxes on its related earnings. In June 2006, a new accounting interpretation was issued regarding accounting for uncertainty income taxes which prescribes how an entity should measure, recognize, present and disclose positions that it has taken or expects to take on its tax or information returns. The effect of the implementation of this guidance was not material to the financial statements.BDC regularly reviews and evaluates its tax positions taken in previously filed information returns and as reflected in its financial statements, with regard to issues affecting its tax exempt status, unrelated business income, and related matters. It believes that in the event of an examination by taxing authorities, its positions would prevail based on the technical merits of such positions. Therefore, BDC has concluded that no tax benefits or liabilities are required to be recognized. |
| Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 | El Centro de Salud Medico, Sch R Part IV $482661 rounding $1 |
| Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S | El Centro de Salud/BDC Elimination $41166 |
| Part XII, Line 2d: Other expenses and losses per audited F/S | El Centro de Salud Medico, Sch R Part IV $428389 rounding $-2 |
| Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S | El Centro de Salud/BDC Elimination $41166 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
| Rebuttable Presumption Proc | false | RebuttablePresumptionProcInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HERIBERTO FLORES | PersonNm |
| Title | President | TitleTxt |
| Compensation Based On Rltd Orgs | $228,874 | CompensationBasedOnRltdOrgsAmt |
| Nontaxable Benefits Rltd Orgs | $7,480 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Rltd Orgs | $236,354 | TotalCompensationRltdOrgsAmt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Loan PurposeLoanPurposeTxt | Loan To OrganizationLoanToOrganizationInd | Original PrincipalOriginalPrincipalAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|
| FLORES DEVELOPMENT LLC | |||||
| MEMORIAL SQUARE APARTMENTS | Yes (X) | $438,364 | false | Yes (true) | Yes (true) |
| FLORES DEVELOPMENT LLC | |||||
| MEMORIAL SQUARE LIHTC DEVELOPERS FEE | Yes (X) | $176,203 | false | Yes (true) | Yes (true) |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule L, Part V Supplemental Information | FormAndLineReferenceDesc |
| Explanation | IN 1984, BRIGHTWOOD DEVELOPMENT CORPORATION RENOVATED THROUGH A TAX SHELTER LIMITED PARTNERSHIP, THE MEMORIAL SQUARE APARTMENTS. IN SEPTEMBER 2004, THE PROPERTY A THEN "BURNED OUT" TAX SHELTER WAS PUT IN FORCED FORECLOSURE BY DEBT HOLDERS. BRIGHTWOOD DID NOT HAVE AVAILABLE FINANCIAL RESOURCES TO PURCHASE THE PROPERTY. THE COMMUNITY WAS IN JEOPARDY OF LOSING LOCAL CONTROL OF THE PROPERTY AND AFFORDABLE HOUSING FOR 40 LOW INCOME FAMILIES. A PLAN WAS PUT IN EFFECT BY THE BOARD OF DIRECTORS TO PURCHASE THE PROPERTY THROUGH FORECLOSURE BY A MEMBER OF THE BOARD OF DIRECTORS TO RETAIN LOCAL CONTROL AND THEN TO TRANSFER THE PROPERTY BACK TO BRIGHTWOOD DEVELOPMENT CORPORATION. THE PLAN WAS EXECUTED AND THE PROPERTY PURCHASED THROUGH FORECLOSURE ON NOVEMBER 4, 2004. THE PROPERTY WAS CLEARED OF ALL LIENS AND ALL DEBT, SUBMITTED FOR LOW INCOME HOUSING TAX CREDIT (LIHTC) FEDERAL RENOVATION PROGRAM (WHICH IT SHOULD RECEIVE ACCEPTANCE IN THE BEGINNING OF 2013) AND TRANSFERRED BACK TO BRIGHTWOOD DEVELOPMENT CORPORATION WITH CLEAN TITLE AT TAX CREDIT COST BASIS. PART OF THAT COST BASIS TRANSFER INCLUDED A LOAN FROM THE BOARD MEMBER OF $176,203 FOR ACTUAL COSTS INCURRED.BRIGHTWOOD DEVELOPMENT CORPORATION DID NOT INCUR ANY EXPENSES ON THIS TRANSACTION AND THE RETURN OF THE PROPERTY TRANSACTION WAS DONE WITH NO PROFIT TO THE BOARD MEMBER AND THE BOARD MEMBER FINANCED LOAN TO BRIGHTWOOD DEVELOPMENT CORPORATION IS AT 0% INTEREST, WITH ZERO REPAYMENT SCHEDULE FOR PRINCIPAL. THE PRINCIPAL WILL BE PAID AT LOW INCOME HOUSING TAX CREDIT CLOSING WITH PROCEEDS FROM THE CLOSING OF THIS TRANSACTION.IN ADDITION TO BRIGHTWOOD DEVELOPMENT CORPORATION, THE LOCAL COMMUNITY DEVELOPMENT CORPORATION MAINTAINING LOCAL CONTROL AND OWNERSHIP OF THE PROPERTY IT WILL RECEIVE A DEVELOPERS FEE FOR THE LIHTC RENOVATIONS UPON COMPETITION OF THE RENOVATIONS TO FURTHER ITS MISSION OF PROVIDING AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT TO THE LOCAL COMMUNITY.IF AND WHEN BRIGHTWOOD DEVELOPMENT CORPORATION RECEIVES A DEVELOPER FEE A PORTION OF THAT FEE WOULD REPAY THE LOAN OF $438,364 (ALSO AT 0% INTEREST, WITH NO REPAYMENT PLAN FOR PRINCIPAL) FROM THE BOARD MEMBER FOR DEVELOPMENT COSTS,EXPENSES AND THE BOARD MEMBERS SHARE OF THE DEVELOPMENT FEE FOR THE TAX CREDIT APPLICATION PROCESS THAT ARE NOT ELIGIBLE FOR TAX CREDIT COST BASIS AND ARE ONLY REIMBURSEABLE FROM DEVELOPERS FEES. IF THE DEVELOPMENT FEE IS NOT RECEIVED OR NOT SUFFICIENT TO COVER THE LOAN FROM THE BOARD MEMBER THE LOAN WILL BE FORGIVEN BY THE BOARD MEMBER. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4d: Other Program Services Description | OTHER PROGRAM SERVICES 4: LA PLAZA - 12 COMMERCIAL RENTAL UNITS TO PROVIDE ECONOMIC DEVELOPMENT IN THE NORTH END OF SPRINGFIELD, MA. |
| Form 990, Part VI, Line 11b: Form 990 Review Process | THE FORM 990 WAS REVIEWED BY MEMBERS OF THE BOARD OF DIRECTORS. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | APPLICABLE DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST TO BRIGHTWOOD DEVELOPMENT CORPORATION AND ARE MADE AVAILABLE BASED ON CURRENT REGULATIONS. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| PARTNERS FOR COMMUNITY | ||||||||||
| 11-13 HAMPDEN STREET | SPRINGFIELD | MA | 01103 | 043397486 | NONPROFIT MANAGEMENT SERVICES | MA | 501(C)(3) | 9 | N/A | false |
| NEW ENGLAND FARM WORKERS COUNCIL INC | ||||||||||
| 11-13 HAMPDEN STREET | SPRINGFIELD | MA | 01103 | 060872959 | HUMAN SERVICE, ECONOMIC DEVELOPMENT ORG | MA | 501(C)(3) | 9 | N/A | false |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EL CENTRO DE SALUD MEDICO INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 380 Plainfield Street | AddressLine1Txt |
| City | SPRINGFIELD | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043269592 | EIN |
| Primary Activities | MEDICAL CENTER | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRIGHTWOOD DEVELOPMENT CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C corp | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | false | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (true) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW ENGLAND FARM WORKERS COUNCIL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | e | TransactionTypeTxt |
| Involved | $87,771 | InvolvedAmt |
| Method Of Amount Determination | FMV | MethodOfAmountDeterminationTxt |
Comments