Ferdinand Building Development Corporation

Nonprofit profile at a glance

EIN
453587147
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6176354140
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$235,545
Expenses
$8,265
Assets
$2,784,744
Liabilities
$179,225

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • ASHLEY GROFFENBERGER (PRESIDENT/CFO, COLLECTOR-TREAS)

Highest reported compensation

  • DION IRISH (TREASURER/CHIEF OF OPERATIONS): $198,394 total reported compensation
  • ASHLEY GROFFENBERGER (PRESIDENT/CFO, COLLECTOR-TREAS): $194,880 total reported compensation
  • SEGUN IDOWU (CLERK): $171,655 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To stimulate new economic development in one of boston's most underdeveloped neighborhoods, as well as to locate a new boston public schools ("bps") headquarters in the demographic center of boston's school population. The most significant activities have been to acquire the site, finance, construct and lease a 215,000 square foot building in dudley square in boston, ma, to be leased to the city of boston and occupied by bps.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 80
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 3.5%; rating input score 4
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 96.5%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 336.93; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 845.2%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -19.3% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -27.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -17.1% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 3.5% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8K in reported program spending
  • Leadership: top reported pay $198K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.