2024-05-15T12:08:11-05:00 2023-06-30 060903326 WHITTLESEY PC 14 BOBALA RD HOLYOKE MA 01040 990 2022-07-01 042678309 FRANKLIN COUNTY COMMUNITY DEVELOPMENT CORPORATION FRAN 4137747204 324 WELLS STREET GREENFIELD MA 01301 JOHN F WAITE EXECUTIVE DIRECTOR 4137747204 2024-05-15 1 JOHN WAITE 999009999 1 THOMAS DOWLING P01232667 4135363970 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN F WAITE 324 WELLS STREET GREENFIELD MA 01301 4180733 0 X WWW.FCCDC.ORG X 1979 MA COMMUNITY ECONOMIC DEVELOPMENT 11 11 24 0 0 0 2897573 3158159 816137 1020001 207 2573 0 0 3713917 4180733 0 0 0 0 1006884 1335345 0 0 65735 1515128 1371954 2522012 2707299 1191905 1473434 8345548 9195245 3914333 3315857 4431215 5879388 X THE PURPOSE OF THE CORPORATION IS TO SITMULATE A MORE VITAL RURAL ECONOMY, TO MAXIMIZE COMMUNITY CONTROL OVER OUR FUTURE ECONOMIC DESTINY, AND TO EXPAND OPPORTUNITIES FOR LOW AND MODERATE INCOME RESIDENTS OF FRANKLIN COUNTY. 0 0 894283 591350 THE WESTERN MASSACHUSETTS FOOD PROCESSING CENTER (WMFPC) WORKS TO ADVANCE ECONOMIC DEVELOPMENT THROUGH ENTREPRENEURSHIP, PROVIDE OPPORTUNITIES FOR SUSTAINING LOCAL AGRICULTURE, AND PROMOTE BEST PRACTICES FOR FOOD PRODUCERS. THE WMFPC IS A NATIONAL MODEL, OFFERING WRAP-AROUND SUPPORT TO HELP FARM AND FOOD BUSINESSES LAUNCH, SCALE, AND SUSTAIN THEIR BUSINESSES. IN 2023, 66 FOOD ENTREPRENEURS AND 15 LOCAL FARMS USED THE FACILITY AND/OR ITS RESOURCES. SINCE OPENING IN 2001, THE WMFPC HAS SUPPORTED MORE THAN 600 LOCAL FARMS AND ENTREPRENEURS. THE CENTER ALSO PROVIDES JOBS AND TRAINING OPPORTUNITIES FOR WORKERS WHO HAVE PREVIOUSLY BEEN INCARCERATED. 508025 2052037 THE LENDING PROGRAM AT THE FRANKLIN COUNTY COMMUNITY DEVELOPMENT CORPORATION RAISES CAPITAL FROM BOTH PUBLIC AND PRIVATE SOURCES TO PROVIDE FINANCING FOR BUSINESSES, START-UPS AND EXPANSIONS. THE LENDING STAFF MEET PROSPECTIVE BORROWERS WHERE THEY ARE, PROVIDING FLEXIBLE FINANCING FOR FOLKS WHO MAY NOT QUALIFY FOR BANK FUNDING. FOR THE YEAR ENDED JUNE 30, 2023, SERVICING 129 LOANS WITH AN OUTSTANDING BALANCE OF APPROXIMATELY $6. MILLION. THIS PROGRAM HAS SUPPORTED HUNDREDS OF SMALL BUSINESSES AND ENTREPRENEURS THAT HAVE, IN TURN, CREATED WELL OVER 1,600 JOBS, AND IT LEVERAGES MILLIONS OF DOLLARS OF ADDITIONAL PRIVATE CAPITAL INVESTMENT. THE PROGRAM AIMS TO BUILD ECONOMIC JUSTICE BY PROVIDING CAPITAL TO LOW- AND MODERATE-INCOME EARNERS AND PEOPLE WHO ARE IMPACTED BY A HISTORY OF UNDERINVESTMENT, RACISM, AND DISCRIMINATION. 386522 411382 THE MASSACHUSETTS AGRICULTURE INNOVATION CENTER (MAAIC) IS A NETWORK OF BUSINESS-ASSISTANCE PROVIDERS ACROSS THE COMMONWEALTH THAT HELPS FARMS AND OTHER VALUE-ADDED PRODUCERS LAUNCH AND SCALE NEW PRODUCT VENTURES. THE PROGRAM OFFERS ONE-ON-ONE BUSINESS COACHING, ACCESS TO FUNDING, AND INDUSTRY CONNECTIONS, SERVING AS A HUB CONNECTING PRODUCERS WITH THE SERVICES THEY NEED TO SUCCEED. COLLECTIVELY, MAAIC PARTNERS HAVE SUPPORTED HUNDREDS OF FARMS WITH PRODUCT DEVELOPMENT, BUSINESS PLANNING, AND FOOD SAFETY AND REGULATORY COMPLIANCE. IN 2023, MAAIC ENGAGED 183 PRODUCERS IN ONE-ONE-ONE COUNSELING AND TRAININGS, HOSTED FOUR WORKSHOPS/TRAININGS, AWARDED FOUR MINI GRANTS TO BUSINESSES FOR SPECIALIZED WORK WITH CONSULTANTS, AND PROVIDED CO-PACKING SERVICES TO 13 FARMS THROUGH THE WMFPC VALUE-ADDED PROGRAM. 202172 222438 THE BUSINESS DEVELOPMENT PROGRAM SUPPORTED MORE THAN 350 CLIENTS IN 2023, WITH 135 RECEIVING MORE THAN FIVE HOURS OF ASSISTANCE. OF THOSE 135, 68 (50%) WERE WOMEN, 42 (31%) WERE NON-WHITE, AND 18 (13%) WERE IMMIGRANTS. FRANKLIN COUNTY CDC STAFF HELP EMERGING AND GROWING BUSINESS OWNERS WITH BUSINESS PLANNING, STRUCTURING AN ORGANIZATION, CREATING A BUSINESS PLAN, SETTING GOALS, MARKETING, OPERATIONAL CONTROLS, AND CREATING A FINANCIAL PLAN. THE IMPACT OF THIS PROGRAMWHICH WORKS WITH BUSINESS OWNERS ACROSS THE FOUR COUNTIES OF WESTERN MASSACHUSETTS AND PARTS OF WORCESTER COUNTYWAS THE CREATION OF 70 JOBS AND THE PRESERVATION OF 114 JOBS IN THIS REGION IN 2023. 171292 237116 IN 1989, THE FCCDC PURCHASED AND RENOVATED A 36,000 SQUARE FOOT INDUSTRIAL BUILDING FOR OPERATION AS A SMALL BUSINESS INCUBATOR. THE VENTURE CENTER PROVIDES SPACE CONSISTING OF FIVE LIGHT INDUSTRIAL SPACES AND EIGHT OFFICES, INCLUDING OFFICE EQUIPMENT AND OTHER RESOURCES, FOR START-UP AND GROWING BUSINESSES. THE VENTURE CENTER IS ALSO HOME TO THE FCCDC OFFICES AND THE WESTERN MA FOOD PROCESSING CENTER. 137903 156439 THE RACIAL JUSTICE INITIATIVE WORKS WITH BUSINESSES IN FRANKLIN COUNTY TO HELP MAKE THEM MORE WELCOMING AND INCLUSIVE. THE RACIAL JUSTICE INITIATIVE SUPPORTS LEADERS AS THEY FOCUS ON THE BUSINESS COMMUNITY TO FURTHER RACIAL EQUITY IN THE WORKPLACE AND IN THE COMMUNITY THROUGH COMMUNICATIONS, PROGRAMS, AND PRACTICES. IN ORDER TO EXPERIENCE AN ACTUAL IMPACT, THE RACIAL JUSTICE INITIATIVE ENCOURAGES BUSINESSES TO LOOK AT EXISTING WHITE DOMINANT CULTURE AND FOCUS ON STRUCTURAL CHANGE, SUCH AS THE IMPROVEMENT OF OUTREACH EFFORTS TO RECRUIT DIVERSE TALENT AND ADDRESS IMPLICIT BIAS IN THE WORKPLACE. THE INITATIVE STARTED IN NOVEMBER 2020 AND HAS CONNECTED WITH OVER 80 EMPLOYEES AND EMPLOYERS. 511367 615993 2300197 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 1 24 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 MA X X X JOHN F WAITE 4137747204 324 WELLS STREET GREENFIELD MA 01301 LEDA MAHMOODI TREASURER 1.00 X X 0 0 0 ANDREA NATHANSON VICE-CHAIR 1.00 X X 0 0 0 MICHAEL BUCKMASTER DIRECTOR 1.00 X 0 0 0 TANISHA ARENA DIRECTOR 1.00 X 0 0 0 DARREN GALE CHAIRPERSON 1.00 X X 0 0 0 KRISTI BODIN DIRECTOR 1.00 X 0 0 0 TASMIN FLANDERS DIRECTOR 1.00 X 0 0 0 MAX FRIPP DIRECTOR 1.00 X 0 0 0 NANCY HANSEN DIRECTOR 1.00 X 0 0 0 TASHA MARSHALL DIRECTOR 1.00 X 0 0 0 SKYE WELLINGTON DIRECTOR 1.00 X 0 0 0 JOHN F WAITE EXECUTIVE DIRECTOR 40.00 X 111805 0 3343 111805 0 3343 1 0 0 0 0 2802268 355891 3158159 FOOD PROCESSING CENTER 561499 410492 410492 RENTAL REVENUE 531390 239316 239316 INTEREST & FEES ON LOA 522200 217601 217601 TUITION 611710 2250 2250 150342 150342 1020001 2573 2573 4180733 1020001 0 2573 X 111473 99211 10033 2229 1223872 1120232 76612 27028 89780 22390 67390 643733 503241 140492 52353 10164 12313 29876 131518 124133 7385 101055 83055 11400 6600 35404 35404 208170 202412 5758 REPAIRS AND MAINTENANCE 75786 74713 1073 ALL OTHER 56303 50390 5911 2 LOAN LOSS RESERVE/BAD D -22148 -25148 3000 2707299 2300197 341367 65735 1237489 826660 274609 414566 313583 298219 3131023 4493680 4164881 2637921 1685331 1526960 1703513 1635160 8345548 9195245 155719 209611 1366945 567832 219989 261546 2171680 2276868 3914333 3315857 X 4431215 5879388 4431215 5879388 8345548 9195245 X 1473434 -25261 X X 0 1 X 1 1 1 X 1232456 1130591 2332684 3713710 4231469 12640910 1232456 1130591 2332684 3713710 4231469 12640910 12640910 53 60 207 3738 4058 12644968 0.99970 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 118800 118800 2311277 1873590 437687 1734804 764331 970473 1526960 RESTRICTED CASH 1517769 PREPAID EXPENSE 67555 DUE FROM AFFILIATE 49836 1635160 4250457 69724 69724 4180733 0 4180733 2856759 149460 149460 2707299 0 2707299 PART IV, LINE 2B: FRANKLIN COUNTY COMMUNITY DEVELOPMENT CORPORATION ACTS AS FISCAL AGENT FOR SEVERAL ORGANIZATIONS. THE ORGANIZATION ALSO HOLDS TENANT SECURITY DEPOSITS AND LOAN REPAYMENTS COLLECTED ON BEHALF OF A LOAN PROGRAM ADMINISTERED FOR THE TOWN OF ERVING. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE'S REVENUE 69,724. PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE'S EXPENSES 149,460. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION, A PRIVATE NON-PROFIT ORGANIZATION, HAS MEMBERS, WHICH INCLUDE BOTH INDIVIDUALS AND BUSINESS/ORGANIZATIONS. FORM 990, PART VI, SECTION A, LINE 7A INDIVIDUAL MEMBERSHIP: INDIVIDUAL AND FAMILY MEMBERSHIP OF THE CORPORATION SHALL BE OPEN TO ANYONE WHO HAS COMPLETED THE CORPORATION'S MEMBERSHIP APPLICATION AND FILED IT WITH THE CORPORATION'S OFFICE. A FAMILY MUST DESIGNATE ONE VOTING REPRESENTATIVE. MEMBERSHIPS ARE RENEWABLE ANNUALLY. ORGANIZATION MEMBERSHIP: BUSINESSES OR ORGANIZATIONS MAY BECOME MEMBERS OF THE CORPORATION BY COMPLETING THE CORPORATION'S MEMBERSHIP APPLICATION AND FILING IT WITH THE CORPORATION'S OFFICE. AN ORGANIZATION MEMBER MUST DESIGNATE ONE VOTING REPRESENTATIVE. MEMBERSHIPS ARE RENEWABLE ANNUALLY. VOTING RIGHTS OF MEMBERS: AN INDIVIDUAL MEMBER MAY ALSO BE THE REPRESENTATIVE OF AN ORGANIZATION MEMBER. HOWEVER, NO ONE PERSON SHALL HAVE MORE THAN ONE VOTE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS VIA EMAIL. THE BOARD MEMBERS REVIEW THE 990 AND PROVIDE FEEDBACK AT THEIR DISCRETION BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G TEMPORARY LABOR: PROGRAM SERVICE EXPENSES 107,381. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 107,381. CONTRACTORS: PROGRAM SERVICE EXPENSES 395,860. MANAGEMENT AND GENERAL EXPENSES 140,492. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 536,352. FORM 990, PART XI, LINE 9: DUE FROM AFFILIATE -25,261. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE AUDITOR IS SELECTED EACH YEAR FOR APPROVAL. THIS POLICY HAS NOT CHANGED FROM THE PRIOR YEAR. PV GROWS INVESTMENT FUND INC 324 WELLS STREET GREENFIELD MA 01301 474254347 INVESTMENT FUNDING MA 501(C)(3) LINE 9 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0