Financials: Fiscal Year 2017

CEDAC Non Profit Funding in Massachusetts

Volume of predevelopment, acquisition, and bridge lending to non-profits by regions, including housing and child care loans and grants, including participations

$23,032,168Total

$23,032,168Total
$2,554,197Northeast
$3,132,000Western
$15,770,014Metro Boston
$602,457Central
$973,500Southeast

Statement of Net Assets June 30, 2017

Enterprise Funds	Operating and CEDAC Loan Funds	Restricted Program Funds	Loan Funds Under Management	Total
Assets
Total current assets	$19,547,014	$2,418,334	$50,482,199	$72,447,547
Total other assets	11,626,834	—	5,904,906	17,531,740
Total assets	$31,173,848	$2,418,334	$56,387,105	$89,979,287
Liabilities and Net Assets
Total current liabilities	5,941,118	2,239,512	2,202,730	10,383,360
Long term notes payable	13,165,837	—	54,184,375	67,350,212
Total liabilities	$19,106,955	$2,239,512	$56,387,105	$77,733,572
Net Assets
Unrestricted net assets	8,243,583	—	—	8,243,583
Invested in capital assets	273,864	—	—	273,864
Restricted net assets – expendable	3,549,446	178,822	—	3,728,268
Total net assets	$12,066,893	$178,822	—	$12,245,715
Total liabilities and net assets	$31,173,848	$2,418,334	$56,387,105	$89,979,287

Statement of Revenues, Expenses and Changes In Net Assets For the Year Ended June 30 2017

Enterprise Funds	Operating and CEDAC Loan Funds	Restricted Program Funds	Loan Funds Under Management	Total
Total operating revenues	$3,596,297	$4,637,128	$498,171	$8,731,596
Total operating expenses	3,632,657	4,582,540	—	8,215,197
Changes in net assets from operations	(36,360)	54,588	498,171	516,399
Net operations of loan funds not recourse to CEDAC	—	—	(498,171)	(498,171)
Changes in net position	(36,360)	54,588	—	18,228
Net Assets, beginning of year	12,103,253	124,234	—	12,227,487
Net Assets, end of year	$12,066,893	$178,822	—	$12,245,715

Projects Funded in Fiscal Year 2017

1595-1597 Columbus Avenue Urban Edge Housing Corporation Boston
1785 Columbus Ave Horizons for Homeless Children Boston
191-195 Bowdoin Street Vietnamese American Initiative for Development Boston
20 & 24 Merrick Street Worcester Common Ground Worcester
25 Amory Street Jamaica Plain Neighborhood Development Corporation Boston
28-30 Leyland Street Hope House, Inc. Boston
40 River Street Metro West Collaborative Development, Inc. Norwell
571 Revere Street The Neighborhood Developers Revere
66 Berkeley Street Ellis Memorial and Eldredge House Boston^*
75 Amory Avenue Apartments Jamaica Plain Neighborhood Development Corporation Boston^*
Abby’s House Abby Kelley Foster House, Inc. Worcester
Afterschool Child Care Lynn Economic Opportunity, Inc. Lynn
Alexander Magnolia Cooperative Alexander Magnolia Cooperative Boston
Armory/Burns Court Worcester East Side CDC Worcester
Aspire Developmental Services Aspire Developmental Services, Inc. Lynn^*
Bancroft/Dixwell Apartments Urban Edge Housing Corporation Boston
BF Brown Complex NewVue Communities Fitchburg
Brighter Days for BDS: Operation New Home Belchertown Day School Belchertown
Brookview House III Brookview House, Inc. Boston
Burbank Gardens Fenway CDC Boston
Carol Avenue Cooperative Allston Brighton CDC Boston
Chestnut Crossing Apartments Home City Development, Inc. Springfield
Cross Street Apartments Coalition for a Better Acre Lowell
Downing Square Broadway Initiative Housing Corporation of Arlington Arlington
Dudley Terrace Dorchester Bay Economic Development Corporation Boston
E. Henry Twiggs Estate Better Homes, Inc. Springfield
Early Head Start Worcester Community Action Council, Inc. Worcester
Fletcher Street House of Hope, Inc. Lowell^*
General Heath Square Apartments Jamaica Plain Neighborhood Development Corporation Boston
Goshen Senior Housing Hilltown CDC Goshen
Guild of St. Agnes Guild of St Agnes Webster^*
Harbor Place Planning Office for Urban Affairs Haverhill^*
Harbor Village North Shore CDC Gloucester
Harborlight House Harborlight Community Partners Beverly^*
Harmony Housing at White’s Mill Pond The Mill Farm Initiative, Inc. Winchendon
Harriet Tubman House United South End Settlements Boston
Howard House Peabody Veterans Supportive Housing Brockton^*
Library Commons Way Finders, Inc. Holyoke
Live 155 Way Finders, Inc. Northampton^*
Louison House Transitional & Supportive Housing Louison House, Inc. Adams
Lyman Terrace Apartments The Community Builders, Inc. Holyoke
Montello Welcome Home II Father Bill’s & MainSpring Brockton^*
Moseley Apartments Domus, Inc. Westfield
New Court Terrace Way Finders, Inc. Springfield
New Joelyn’s Home Victory Programs, Inc. Boston^*
Newcastle Saranac Apartments Madison Park Development Corporation Boston
Noquochoke Village The Community Builders, Inc. Westport
Oak Terrace Asian CDC Boston
Old Telephone and Telegraph Building NorthStar Learning Centers, Inc. New Bedford
One Gurney Street Mission Hill Neighborhood Housing Services Boston^*
One Salem Square Rehab YWCA Central Massachusetts Worcester
Orlando Street Rehab Codman Square Neighborhood Development Corporation Boston
Pine Grove Village Pine Grove Cooperative Corporation Lexington
RCDC’s Outdoor Play Space and Natural Classroom Rainbow Child Development Center Worcester^*
Rosewood Townhomes Way Finders, Inc. Agawam
Sergeant House Expansion Valley CDC Northampton
Shirley Commons Women’s Institute for Housing and Economic Development Shirley
Shoe Shop Place Neighborhood of Affordable Housing, Inc. Middleborough^*
Six Corners Zero Net Energy Homes DevelopSpringfield Springfield
Sunderland Affordable Senior Housing Rural Development, Inc. Sunderland
Talbot Commons Phase I Codman Square Neighborhood Development Corporation Boston
Terrapin Ridge Women’s Institute for Housing and Economic Development Sandwich
The Blanchard School Virginia Blanchard Memorial Housing Association, Inc. Uxbridge
The Clarion The Community Builders, Inc. Boston
The Gerson Building Coalition for a Better Acre Haverhill
The Lorenzo Pitts Portfolio Jamaica Plain Neighborhood Development Corporation Boston
The Lumber Yard Valley CDC Northampton^*
The Perrault Family Modification Pioneer Valley Planning Commission Southampton^*
The Residences at Fairmount Station Southwest Boston CDC Boston^*
The Union at Boylston St. Francis House Boston^*
Unity House Montachusett Veterans Outreach Center Gardner
Upper Washington Apartments Vietnamese American Initiative for Development Boston^*
Waldeck Street Acq & Rehab Codman Square Neighborhood Development Corporation Boston
Walker Park Apartments Urban Edge Housing Corporation Boston^*
Westminster Court Urban Edge Housing Corporation Boston
Weymouth Veterans Home Neighborhood Housing Services of the South Shore Weymouth^*
Whittier, Lyndhurst & Washington Homes Codman Square Neighborhood Development Corporation Boston^*
Wilshire Apartments Urban Edge Housing Corporation Boston

* Indicated project funded before FY17

Next: Funders