Lowell Development and Financial Corporation
Lowell Development and Financial Corporation
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About this organization
Mission
The LDFC is a nonprofit development corporation established in 1975 to promote Lowell's economic revitalization and to provide secondary financing for the rehabilitation and acquisition of properties in Lowell.
About
Program service activity involves the lending of money (secured by mortgage notes) at below market rates of interest for commercial and residential buildings.
Interesting data from their 2020 990 filing
The non-profit's mission is outlined in the filing as being “To promote lowell's economic revitalization by providing secondary financing for the rehabilitation and acquisition of properties in lowell.”.
When outlining its responsibilities, they were referred to as: “The ldfc is a nonprofit development corporation established in 1975 to promote lowell's economic revitalization and to provide secondary financing for the rehabilitation and acquisition of properties in lowell.”.
- The state in which the non-profit operates has been officially reported as MA.
- The filing reveals the non-profit's address in 2020 to be 660 SUFFOLK STREET STE 120, LOWELL, MA, 01854.
- As per the non-profit's form for 2020, they have 2 employees on their payroll.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $250,000 and $500,000.
- Revenue less expenses is -$193,866.
- The organization has 36 independent voting members.
- The organization was formed in 1975.
- The organization pays $304,979 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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