Bluehub Loan Fund
Bluehub Loan Fund reported $39.5 million in revenue and $15.1 million in expenses for calendar year 2024. Of every $100 it spent, $80.69 went to program services, $18.08 to management and general costs and $1.23 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 52.6% of the total. Government grants made up 40.9%. The highest compensation it reported for one person was $1,212,119 (CEO & EX-OFFICIO BOARD MEMBER). 11 people received more than $100,000 in reportable compensation. Revenue rose 95% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $15MFor context, the median across 2,433 covered unclassified charities: $88.27 programs, $11.68 management, $0.05 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $40MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 80.7% | 86.7% |
| Management & general Part IX 25(C) ÷ 25(A) | 18.1% | 11.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.2% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 40.9% | 29.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 40.9% | 3.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 52.6% | 58.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,212,119 | $301,601 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 8.02% | 1.38% |
| People paid over $100,000 Part VII, line 2 | 11 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 123.2 | 6.8 |
| Independent voting board members Part VI 1a–1b | 9 of 11 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO & EX-OFFICIO BOARD MEMBER Director/trustee, officer, 4.00 hrs/week | $96,803 | $871,234 | $244,082 | $1,212,119 |
| EVP, CFO (UNTIL 9/2024) Officer, 12.00 hrs/week | $129,666 | $302,553 | $81,864 | $514,083 |
| PRESIDENT, BLUEHUB ENERGY Officer, 0.00 hrs/week | $0 | $250,215 | $99,766 | $349,981 |
| PRES. LOAN FUND & EX-OFFICIO BOARD MEM. Director/trustee, officer, 40.00 hrs/week | $305,695 | $0 | $37,788 | $343,483 |
| CHIEF OPERATING OFFICER Highest compensated employee, 0.00 hrs/week | $0 | $271,892 | $41,289 | $313,181 |
| SVP,COMMERCIAL LENDING, TEAM LEADER Highest compensated employee, 40.00 hrs/week | $269,026 | $0 | $39,264 | $308,290 |
| SVP, CONTROLLER Highest compensated employee, 10.00 hrs/week | $59,384 | $178,150 | $58,799 | $296,333 |
| CHIEF ADMINISTRATIVE OFFICER Highest compensated employee, 0.00 hrs/week | $0 | $265,600 | $17,040 | $282,640 |
11 people received more than $100,000 in reportable compensation from Bluehub Loan Fund (Part VII, line 2). Compensation of current officers, directors and key employees totaled $594K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b11 · 9 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 556
- Volunteers Part I, line 69
Correct a figure or respond
Every number above is copied from Bluehub Loan Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Bluehub Loan Fund, you can publish a response that is linked from this page.
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Of every $100 Bluehub Loan Fund spent in 2024, $80.69 went to programs. The full breakdown, from its IRS Form 990:
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All unclassified charities · Largest charities in Massachusetts
Questions people ask
How much of Bluehub Loan Fund's spending goes to programs?
In calendar year 2024, Bluehub Loan Fund reported that 80.7% of its $15.1 million in expenses went to program services, 18.1% to management and general and 1.2% to fundraising (Form 990, Part IX).
How much does Bluehub Loan Fund pay its top executive?
The largest total compensation Bluehub Loan Fund reported for one person in calendar year 2024 was $1,212,119, for the role of CEO & EX-OFFICIO BOARD MEMBER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Bluehub Loan Fund get its money?
Of $39.5 million in revenue in calendar year 2024, 40.9% came from contributions and grants (including 40.9% from government grants) and 52.6% from program service revenue (Form 990, Part VIII).
Is Bluehub Loan Fund a registered charity?
The IRS lists EIN 22-2593378 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202533209349301213 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433189349302958 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303129349304965 · read the filing
- 2021: Form 990 for calendar year 2021, object 202213199349302591 · read the filing
- 2020: Form 990 for calendar year 2020, object 202143149349301224 · read the filing
- 2019: Form 990 for calendar year 2019, object 202043149349304064 · read the filing
All filings for EIN 22-2593378: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.