Nonprofit · EIN 01-0628266
BUILDING FUTURES INC
Tax-exempt (reinstated) · WORCESTER, MA 01605
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $2,554,032 | $1,873,133 | $680,899 | $29,101,025 | $17,843,896 | $11,257,129 |
| March 31, 2024 | 990 | $1,521,889 | $1,284,774 | $237,115 | $18,871,085 | $18,183,998 | $687,087 |
| March 31, 2023 | 990 | $1,752,331 | $1,686,779 | $65,552 | $14,941,865 | $14,491,893 | $449,972 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $351,738
- Program service revenue
- $0
- Investment income
- $97,884
- Net rental income
- $1,330,718
- Other revenue
- $2,104,410
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $256,719
- Salaries, compensation and benefits (total)
- $386,894
- Professional fundraising fees
- $0
- Legal fees
- $20,308
- Accounting fees
- $2,607
- Occupancy
- $351,738
- Depreciation
- $448,209
- Program services (functional)
- $1,873,133
Balance sheet and other
- Total assets, start of year
- $18,871,085
- Total assets, end of year
- $29,101,025
- Total liabilities, end of year
- $17,843,896
- Net assets, end of year
- $11,257,129
- Land, buildings and equipment
- $17,970,936
- Net assets without donor restrictions
- $11,257,129
- Gross receipts
- $2,554,032
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2017
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Alex Corrales | WHA CEO Highest-paid employee | 0 | $0 | $271,184 | $144,541 |
| Peter Proulx | WHA Assistant CEO Highest-paid employee | 0 | $0 | $221,428 | $118,021 |
| Peter Fifield | WHA CFO Highest-paid employee | 0 | $0 | $171,604 | $91,465 |
| Esteban Alvarez | Chief Facilities Officer Highest-paid employee | 0 | $0 | $167,013 | $89,018 |
| Michael Murphy | Director of Administration Highest-paid employee | 0 | $0 | $156,691 | $83,516 |
| Joseph Carlson | Chairman Trustee or director, Officer | 1 | $0 | $8,300 | $120 |
| Joseph Capone | Vice Chairman Trustee or director, Officer | 1 | $0 | $8,000 | $116 |
| Jose Ramos | Treasurer Trustee or director, Officer | 1 | $0 | $8,000 | $116 |
| William Eddy | Clerk/Secretary Trustee or director, Officer | 1 | $0 | $8,000 | $116 |
| Rane Bracey-Westbrook | Director Trustee or director | 1 | $0 | $8,000 | $116 |
990 for the year ended March 31, 2024: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Alex Corrales | WHA CEO Highest-paid employee | 0 | $0 | $271,184 | $144,541 |
| Peter Proulx | WHA Assistant CEO Highest-paid employee | 0 | $0 | $221,428 | $118,021 |
| Peter Fifield | WHA CFO Highest-paid employee | 0 | $0 | $171,604 | $91,465 |
| Esteban Alvarez | Chief Facilities Officer Highest-paid employee | 0 | $0 | $167,013 | $89,018 |
| Michael Murphy | Director of Administration Highest-paid employee | 0 | $0 | $156,691 | $83,516 |
| Joseph Carlson | Chairman Trustee or director, Officer | 1 | $0 | $8,300 | $120 |
| Joseph Capone | Vice Chairman Trustee or director, Officer | 1 | $0 | $8,000 | $116 |
| Jose Ramos | Treasurer Trustee or director, Officer | 1 | $0 | $8,000 | $116 |
| William Eddy | Clerk/Secretary Trustee or director, Officer | 1 | $0 | $8,000 | $116 |
| Rane Bracey-Westbrook | Director Trustee or director | 1 | $0 | $8,000 | $116 |
990 for the year ended March 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Alex Corrales | WHA CEO Highest-paid employee | 0 | $0 | $245,682 | $130,703 |
| Peter Proulx | WHA Assistant CEO Highest-paid employee | 0 | $0 | $190,741 | $101,474 |
| Esteban Alvarez | Chief Facilities Officer Highest-paid employee | 0 | $0 | $152,985 | $81,388 |
| Peter Fifield | WHA CFO Highest-paid employee | 0 | $0 | $150,567 | $80,102 |
| Michael Murphy | Director of Administration Highest-paid employee | 0 | $0 | $144,374 | $76,807 |
| Joseph Carlson | Chairman Trustee or director, Officer | 1 | $0 | $8,204 | $3,005 |
| Joseph Capone | Vice Chairman Trustee or director, Officer | 1 | $0 | $8,004 | $2,932 |
| Jose Ramos | Treasurer Trustee or director, Officer | 1 | $0 | $8,004 | $2,932 |
| William Eddy | Clerk/Secretary Trustee or director, Officer | 1 | $0 | $8,004 | $2,932 |
| Rane Bracey-Westbrook | Director Trustee or director | 1 | $0 | $8,004 | $2,932 |
Address and contacts
- Address (IRS master file)
- 630A PLANTATION ST, WORCESTER, MA 01605-2038
- In care of
- % PAUL J GIORGIO
- Principal officer (990 for 2024)
- Joseph Carlson, 630A Plantation Street, Worcester, MA 01605
- Signed the 990
- Joseph Carlson, Chairman
- Phone
- (508) 635-3115
- Website
- www.bfiwha.org
Mission
Building Futures, Inc. provides safe, affordable, and quality housing opportunities in Worcester, MA for low-income individuals and families. It aims to transform the lives of public housing or rent subsidized residents with no cost to affordable programs that provide educational, training, and employment skills necessary to achieve social and economic self-sufficiency.
Program accomplishments
- Educational, training, and employment assistance for low-income individuals and families.Expenses $1,873,133 · revenue $2,554,032
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 01-0628266
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2017
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P20)
- Assets (IRS master file)
- $29,101,025
- Income (IRS master file)
- $2,554,032
Revocation and reinstatement
- Exemption revoked
- August 15, 2010
- Posted by the IRS
- June 9, 2011
- Reinstated
- Effective January 15, 2017
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | $2,554,032 | $1,873,133 | $29,101,025 | XML |
| 990 | March 2024 | $1,521,889 | $1,284,774 | $18,871,085 | XML |
| 990 | March 2023 | $1,752,331 | $1,686,779 | $14,941,865 | XML |
| 990 | March 2022 | $1,032,429 | $699,140 | $12,101,842 | IRS |
| 990 | March 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-0628266).
Questions about BUILDING FUTURES INC
- What is the EIN of BUILDING FUTURES INC?
- The employer identification number (EIN) of BUILDING FUTURES INC is 01-0628266.
- Is BUILDING FUTURES INC tax-exempt?
- Yes. The IRS revoked its exemption on August 15, 2010 and reinstated it effective January 15, 2017.
- Are donations to BUILDING FUTURES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BUILDING FUTURES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BUILDING FUTURES INC due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BUILDING FUTURES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of BUILDING FUTURES INC?
- The 990 for the year ended March 31, 2025 names Joseph Carlson.
- Who are the officers and directors of BUILDING FUTURES INC?
- The 990 for the year ended March 31, 2025 lists 10 people; 0 received compensation from the organization.
- How much revenue does BUILDING FUTURES INC have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $2,554,032, expenses of $1,873,133 and total assets of $29,101,025 at year end.
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All nonprofits in WORCESTER · Massachusetts · Human services