Overview
What is Lowell Development & Financial Corp?
Lowell Development & Financial Corp, established in 1975, is a nonprofit development corporation situated in Lowell, Massachusetts. Their primary mission is to foster Lowell's economic revitalization by offering secondary financing for the renovation and acquisition of properties within the city. This nonprofit organization lends money, secured by mortgage notes, at below-market interest rates for both commercial and residential buildings. Their activities are instrumental in revitalizing Lowell's urban landscape, contributing to the overall development of the region. With a small team of two dedicated individuals, the Lowell Development & Financial Corp continues to play a significant role in the city's growth and transformation.
Official website here: www.ldfc.org
Is Lowell Development & Financial Corp legitimate?
Lowell Development & Financial Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lowell Development & Financial Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $144,348
Professional Fundraising Fees: $0
Other Salaries and Wages: $84,340
For more financial information, click here
Official website here: www.ldfc.org
What is the mission statement of Lowell Development & Financial Corp?
Lowell Development & Financial Corp, established in 1975, is a nonprofit organization that has a mission to foster economic revitalization. They achieve this by providing secondary financing for the rehabilitation and acquisition of properties. This approach aids in the restoration and purchase of commercial and residential buildings in Lowell. Their primary activity involves lending money at below-market interest rates, secured by mortgage notes. This financial support is instrumental in revitalizing the economic landscape of the area.
Official website here: www.ldfc.org
Who is the CEO of Lowell Development & Financial Corp?
Kara Doyle is the Executive Di of Lowell Development & Financial Corp.
Official website here: www.ldfc.org
What is the revenue of Lowell Development & Financial Corp?
Lowell Development & Financial Corp's revenue in 2023 was $501,210.
Official website here: www.ldfc.org
Who are the executives of Lowell Development & Financial Corp and what are their salaries?
The average compensation at Lowell Development & Financial Corp during 2023 was $114,344. There are 2 employees at Lowell Development & Financial Corp.
Here are 38 key members and their salaries:
- Allison Lamey (Executive Di)
- Shannon Arenburg (Director)
- Yovani Baez-Rose (Director)
- Donald A Bedard (Director)
- Trevor Bloom (Director)
- Jane Calvin (Director)
- Gary Campbell (Director)
- Paul Carey (Director)
- Sokhary Chau (Director)
- Julie Chen (Director)
- Yun-Ju Choi (Clerk) [Trustee/Director]
- Kara Doyle (Treasurer) [Trustee/Director]
- Daniel Field (Director)
- Linda Flynn (Director)
- Karen Frederick (Director)
- Julie Galonska (Director)
- Robert Gilman (Director)
- Thomas Golden (Director)
- Raymond Hamilton (Director)
- Stacie Hargis (Director)
- James Hogan (President) [Trustee/Director]
- Steven Joncas (Director)
- James Linnehan Jr (Director)
- Edward Kennedy (Director)
- William Lipchitz (Director)
- Glynn Lloyd (Director)
- Deborah Mcadams (Director)
- Danielle Mcfadden (Director)
- Cathy Mercado (Director)
- Anothny Nganga (Director)
- Maryann Picard (Director)
- Jennifer Raitt (Director)
- Diane Silva (Vice-Preside) [Trustee/Director]
- Philip Sisson (Director)
- Sophan Smith (Director)
- Ani Vong (Director)
- James Wilde (Director)
- Parker Williams (Director)
Official website here: www.ldfc.org
Where can I find the form 990 for Lowell Development & Financial Corp?
The Lowell Development & Financial Corp’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.ldfc.org
Learn more at the official website: www.ldfc.org
Mission Statement of Lowell Development & Financial Corp
Lowell Development & Financial Corp, established in 1975, is a nonprofit development corporation with a mission to drive the economic revitalization of its community. To achieve this goal, the organization provides secondary financing for the rehabilitation and acquisition of properties in Lowell. By lending money at below-market interest rates, Lowell Development & Financial Corp supports the renovation and acquisition of commercial and residential buildings, thereby contributing to the overall improvement of the local economy. In essence, this nonprofit corporation plays a crucial role in facilitating property development projects that foster economic growth in Lowell.
Impact
This information is meant to be a general summary of Lowell Development & Financial Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Wednesday, July 24, 2024
Lowell Development & Financial Corp has had a significant impact on the economic revitalization of Lowell, Massachusetts since its establishment in 1975. By providing secondary financing for the rehabilitation and acquisition of properties in Lowell, the organization has played a crucial role in promoting economic development in the city. Through its lending programs at below market rates of interest for commercial and residential buildings, Lowell Development & Financial Corp has helped to facilitate the renovation and upkeep of properties, contributing to the overall improvement of the community.
Overall, the organization's efforts have not only supported the preservation of historic buildings but also encouraged the development of new businesses and residential spaces in Lowell. This has led to a positive transformation of the city's landscape, creating a more vibrant and sustainable environment for residents and visitors alike.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$122,358
PROCESSING FEES
Revenue
$1,000
Organization Details
Founding Year
1975
Phone
(978) 459-9899
Principal Officer
Kara Doyle
Main Address
660 SUFFOLK STREET, LOWELL, MA, 01854
Website
www.ldfc.org
NTEE Category
Code: S310 - Community improvement
If you are a representative of Lowell Development & Financial Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.