Nonprofit · EIN 03-0264092
COOPERATIVE FUND OF THE NORTHEAST INC
Also known as STEPHEN A BORLA
Tax-exempt · WATERTOWN, MA 02471
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $5,882,424 | $5,031,395 | $851,029 | $61,347,830 | $45,635,057 | $15,712,773 |
| December 31, 2024 | 990 | $5,245,756 | $4,030,710 | $1,215,046 | $57,202,948 | $42,341,139 | $14,861,809 |
| December 31, 2023 | 990 | $4,114,478 | $3,238,569 | $875,909 | $50,443,237 | $36,796,474 | $13,646,763 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,193,576
- of which government grants
- $1,297,500
- Program service revenue
- $3,288,926
- Investment income
- $399,922
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $496,265
- Other salaries and wages
- $1,079,561
- Salaries, compensation and benefits (total)
- $1,791,262
- Professional fundraising fees
- $0
- Legal fees
- $103,070
- Accounting fees
- $33,132
- Program services (functional)
- $4,576,370
- Management and general (functional)
- $436,001
- Fundraising (functional)
- $19,024
Balance sheet and other
- Total assets, start of year
- $57,202,948
- Total assets, end of year
- $61,347,830
- Total liabilities, end of year
- $45,635,057
- Net assets, end of year
- $15,712,773
- Net assets without donor restrictions
- $15,382,353
- Net assets with donor restrictions
- $330,420
- Gross receipts
- $5,882,424
- Employees
- 15
- Volunteers
- 11
- Year formed
- 1975
- 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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHA JOSEPHY | EXECUTIVE DIRECTOR Officer | 40 | $169,080 | $17,872 |
| DORIAN GREGORY | DEPUTY EXECUTIVE DIRECTOR Officer | 40 | $149,620 | $17,289 |
| STEPHEN BORLA | FINANCE DIRECTOR Officer | 40 | $125,349 | $17,055 |
| CAROLYN EDSELL-VETTER | PROGRAM DIRECTOR Highest-paid employee | 40 | $124,648 | $16,648 |
| JOHAN MATTHEWS | ECOSYSTEM STRATEGY MANAGER Highest-paid employee | 40 | $102,400 | $16,124 |
| LISKA WILSON | COMMUNICATIONS DIRECTOR Highest-paid employee | 40 | $103,795 | $13,310 |
| JUAN LEYTON | PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| JONAH FERTIG-BURD | VICE PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| ALIANA PINEIRO | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| NATASHA LATOUR | CLERK Trustee or director, Officer | 4 | $0 | $0 |
| AMETHYST CAREY | TRUSTEE (UNTIL 06/13/2025) Trustee or director | 4 | $0 | $0 |
| BONNIE HUDSPETH | TRUSTEE Trustee or director | 4 | $0 | $0 |
| JULIAN MCKINLEY | TRUSTEE Trustee or director | 4 | $0 | $0 |
| KIMBERLY R LYLE | TRUSTEE Trustee or director | 4 | $0 | $0 |
| LAUREN DUFFY | TRUSTEE Trustee or director | 4 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NORA GOSSELIN | TRUSTEE Trustee or director | 4 | $0 |
990 for the year ended December 31, 2024: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHA JOSEPHY | EXECUTIVE DIRECTOR Officer | 40 | $158,825 | $17,215 |
| DORIAN GREGORY | DEPUTY EXECUTIVE DIRECTOR Officer | 40 | $140,452 | $16,664 |
| STEPHEN BORLA | FINANCE DIRECTOR Officer | 40 | $112,000 | $16,223 |
| CAROLYN EDSELL-VETTER | PROGRAM DIRECTOR Highest-paid employee | 40 | $111,318 | $15,790 |
| LISKA WILSON | COMMUNICATIONS DIRECTOR Highest-paid employee | 40 | $101,973 | $12,875 |
| KIMBERLY R LYLE | PRESIDENT Trustee or director, Officer | 4 | $5,000 | $0 |
| AMETHYST CAREY | TRUSTEE Trustee or director | 4 | $5,000 | $0 |
| ALIANA PINEIRO | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| NATASHA LATOUR | TRUSTEE Trustee or director | 4 | $0 | $0 |
| LAUREN DUFFY | TRUSTEE Trustee or director | 4 | $0 | $0 |
| JULIAN MCKINLEY | TRUSTEE Trustee or director | 4 | $0 | $0 |
| JUAN LEYTON | TRUSTEE Trustee or director | 4 | $0 | $0 |
| JONAH FERTIG-BURD | CLERK Trustee or director, Officer | 4 | $0 | $0 |
| NORA GOSSELIN | TRUSTEE Trustee or director | 4 | $0 | $0 |
| DUKE BOUCHARD | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
| JON RESKE | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
| DANIEL ROSS | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
| CLARK ARRINGTON | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
| BONNIE HUDSPETH | VICE-PRESIDENT Trustee or director, Officer | 4 | $0 | $0 |
| ANDY DANFORTH | OUTGOING TREASURER Trustee or director, Officer | 4 | $0 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHA JOSEPHY | EXECUTIVE DIRECTOR Officer | 40 | $148,960 | $10,319 |
| DORIAN GREGORY | DEPUTY EXECUTIVE DIRECTOR Officer | 40 | $136,600 | $9,948 |
| CAROLYN EDSELL-VETTER | PROGRAM DIRECTOR Highest-paid employee | 40 | $108,280 | $9,098 |
| AMETHYST CAREY | TRUSTEE Trustee or director | 4 | $5,000 | $0 |
| KIMBERLY R LYLE | PRESIDENT Trustee or director, Officer | 4 | $5,000 | $0 |
| BONNIE HUDSPETH | VICE-PRESIDENT Trustee or director, Officer | 4 | $3,333 | $0 |
| ALIANA PINEIRO | TRUSTEE Trustee or director | 4 | $0 | $0 |
| ANDY DANFORTH | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| CLARK ARRINGTON | TRUSTEE Trustee or director | 4 | $0 | $0 |
| DANIEL ROSS | TRUSTEE Trustee or director | 4 | $0 | $0 |
| DUKE BOUCHARD | TRUSTEE Trustee or director | 4 | $0 | $0 |
| JON RESKE | TRUSTEE Trustee or director | 4 | $0 | $0 |
| JONAH FERTIG-BURD | CLERK Trustee or director, Officer | 4 | $0 | $0 |
| JUAN LEYTON | TRUSTEE Trustee or director | 4 | $0 | $0 |
| MARILYN SCHOLL | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
| MATTHEW FEINSTEIN | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
| SUSAN ELLIS | OUTGOING TRUSTEE Trustee or director | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 970, WATERTOWN, MA 02471-0970
- Principal officer (990 for 2025)
- STEPHEN BORLA, PO BOX 970, WATERTOWN, MA 02471
- Signed the 990
- MICHA JOSEPHY, EXECUTIVE DIRECTOR
- Phone
- (800) 818-7833
- Website
- WWW.COOPERATIVEFUND.ORG
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
CFNE'S MISSION IS TO WORK FOR ECONOMIC, SOCIAL, AND RACIAL JUSTICE BY ADVANCING COMMUNITY BASED, COOPERATIVE, AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES.
Program accomplishments
- IN FURTHERANCE OF THIS MISSION, CFNE MAKES LOANS, PROVIDES OTHER ALTERNATIVE FINANCING, AND OFFERS TECHNICAL ASSISTANCE TO COOPERATIVE ORGANIZATIONS AND SIMILAR ENTERPRISES WITH A PREFERENCE TO ASSISTING COOPERATIVES IN LOW INCOME COMMUNITIES, AND BY OFFERING AN INVESTMENT OPPORTUNITY THAT PROMOTES SOCIALLY CONSCIOUS ENTERPRISE.Expenses $4,576,370 · revenue $3,288,926
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0264092
- 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
- 1984
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T50Z)
- Assets (IRS master file)
- $61,347,830
- Income (IRS master file)
- $5,882,424
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $5,882,424 | $5,031,395 | $61,347,830 | XML |
| 990 | December 2024 | $5,245,756 | $4,030,710 | $57,202,948 | XML |
| 990 | December 2023 | $4,114,478 | $3,238,569 | $50,443,237 | XML |
| 990 | December 2022 | $4,768,332 | $2,666,249 | $47,930,923 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 03-0264092).
Questions about COOPERATIVE FUND OF THE NORTHEAST INC
- What is the EIN of COOPERATIVE FUND OF THE NORTHEAST INC?
- The employer identification number (EIN) of COOPERATIVE FUND OF THE NORTHEAST INC is 03-0264092.
- Is COOPERATIVE FUND OF THE NORTHEAST INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to COOPERATIVE FUND OF THE NORTHEAST INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COOPERATIVE FUND OF THE NORTHEAST 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 COOPERATIVE FUND OF THE NORTHEAST INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COOPERATIVE FUND OF THE NORTHEAST INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of COOPERATIVE FUND OF THE NORTHEAST INC?
- The 990 for the year ended December 31, 2025 names STEPHEN BORLA.
- Who are the officers and directors of COOPERATIVE FUND OF THE NORTHEAST INC?
- The 990 for the year ended December 31, 2025 lists 16 people; 6 received compensation from the organization, the highest $169,080 (MICHA JOSEPHY, EXECUTIVE DIRECTOR).
- How much revenue does COOPERATIVE FUND OF THE NORTHEAST INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $5,882,424, expenses of $5,031,395 and total assets of $61,347,830 at year end.
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