Compensation 990

Bay Colony Development Corp.

Fiscal year ending 2024. Filed on February 26, 2025.

230 Third Avenue 1st Floor
Waltham, Massachusetts 02451

Bay Colony Development Corp. (EIN: 04-2738974) has filed an IRS Form 990 since fiscal year 2017. In its fiscal year 2024 IRS Form 990 filing, Bay Colony Development Corp., a 501(c)(4) civic league or social welfare organization, reported compensation for 11 out of 16 total employees. Among the employees shown here, the average compensation is $234,967. The highest compensated employee at Bay Colony Development Corp. is Erik Adams with fiscal year 2024 compensation of $456,828.

Revenue, expenses, and employee compensation

Revenue

$5,023,750

Expenses

$4,144,965

Employee compensation

$3,364,369
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

－2.4%vs 2023
Erik Adams
Executive Vice President / Senior Vice President Marketing
$456,828
$362,298 from orgNo related comp$94,530 other
＋9.0%vs 2023
Mary Katherine Mansfield
President and Chief Executive Officer
$410,195
$345,223 from orgNo related comp$64,972 other
－1.9%vs 2023
Eberto Ranero
Senior Vice President, Marketing
$242,464
$207,745 from orgNo related comp$34,719 other
＋5.5%vs 2023
Betty Ule
Chief Financial Officer
$241,347
$188,014 from orgNo related comp$53,333 other
＋10.0%vs 2023
Heather Storme
Vice President, Marketing
$227,936
$207,063 from orgNo related comp$20,873 other
＋4.7%vs 2023
Laura Brown
Vice President, Marketing
$216,409
$196,176 from orgNo related comp$20,233 other
＋5.9%vs 2023
Kimberly Legere
Vice President Servicing
$188,238
$140,530 from orgNo related comp$47,708 other
－0.5%vs 2023
Rosemarie Finn
Vice President Underwriting
$173,091
$154,324 from orgNo related comp$18,767 other
＋7.2%vs 2023
Colleen Murphy Guarnieri
Vice President Closing
$154,190
$114,801 from orgNo related comp$39,389 other
－0.8%vs 2023
Danielle Boutin
Vice President Underwriting
$139,890
$126,510 from orgNo related comp$13,380 other
－0.7%vs 2023
Melinda Bator
Vice President Underwriting
$134,050
$121,220 from orgNo related comp$12,830 other

Non-Employee Board Members

±0%vs 2023
Timothy Fahey
Director
$18,000
$18,000 from orgNo related compNo other comp
±0%vs 2023
Rebecca Dewolfe
Chair
$14,000
$14,000 from orgNo related compNo other comp
±0%vs 2023
James Healey
Director
$14,000
$14,000 from orgNo related compNo other comp
＋211.1%vs 2023
Scott Vandersall
Vice Chair
$14,000
$14,000 from orgNo related compNo other comp
＋7.7%vs 2023
Richard Lefferts
Director
$7,000
$7,000 from orgNo related compNo other comp
＋11.1%vs 2023
George Berbeco
Director Until 03/24
$5,000
$5,000 from orgNo related compNo other comp
＋11.1%vs 2023
Nina Luchka
Director
$5,000
$5,000 from orgNo related compNo other comp
－64.3%vs 2023
William Cantor
Director
$5,000
$5,000 from orgNo related compNo other comp

Mission Statement

IT IS BCDC'S MISSION TO BE THE LENDER OF CHOICE FOR SMALL BUSINESSES, BY INVESTING RESOURCES; BOTH MONETARILY AND PROFESSIONALLY, THAT OFFER CREATIVE FINANCING SOLUTIONS TO PROVIDE POSITIVE ECONOMIC IMPACT WITHIN THE COMMUNITIES WE SERVE.

Revisions to this organization profile

February 26, 2025:
2024 Bay Colony Development Corp. 990 filed
March 19, 2024:
2023 Bay Colony Development Corp. 990 filed
February 14, 2023:
2022 Bay Colony Development Corp. 990 filed

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