PLATINUM2023

Waterfront Historic Area League of New Bedford Inc

Preserving the Past * Building the Future

New Bedford, MA   |  https://www.waterfrontleague.org/
GuideStar Charity Check

Waterfront Historic Area League of New Bedford Inc

EIN: 04-6130520


Mission

THIS MISSION OF THE WATERFRONT HISTORIC AREA LEAGUE (WHALE) IS TO FOSTER HISTORIC PRESERVATION AND CONTINUED USE OF THE CITYS ARCHITECTURAL HERITAGE, SO TO ENHANCE COMMUNITY AND ECONOMIC VITALITY IN NEW BEDFORD, MA.

Ruling year info

1963

Executive Director

Ms. Erin Miranda

Main address

15 Johnny Cake Hl Fl 2

New Bedford, MA 02740 USA

Show more contact info

EIN

04-6130520

Subject area info

Historic preservation

Community and economic development

Sports and recreation

Population served info

Families

Ethnic and racial groups

Immigrants

Undocumented immigrants

Economically disadvantaged people

NTEE code info

Single Organization Support (N11)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Historic Restoration and Adaptive Reuse for Community Needs

WHALE uses the restoration of New Bedford's historic architecture as a tool to create affordable housing, contribute to the city's economic development, foster the creative economy and preserve architectural and multi-cultural history.

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people
Immigrants and migrants
Artists and performers
Veterans

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of new grants received

This metric is no longer tracked.
Totals By Year
Population(s) Served

Multiracial people, People of African descent, People of Latin American descent

Related Program

Historic Restoration and Adaptive Reuse for Community Needs

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

WHALE - Waterfront Historic Area League - is a Historic Preservation Nonprofit and a Community Development Corporation that uses the restoration of New Bedford’s historic architecture as a tool to:
• stabilize neighborhoods and develop affordable housing
• foster economic growth and create workforce opportunities
• expand New Bedford's growing arts and culture sector
• preserve the city’s architectural and multi-cultural heritage

With each restoration, WHALE is contributing to a new history for New Bedford and new narrative for the city. Restoring historic buildings and landmarks is an investment in a stronger, more prosperous community that can pride in its heritage and have hope for its future.

WHALE frequently works in partnership with other nonprofits seeking facilities for their organizations, like the First Baptist Church restoration in partnership with Your Theater and the Strand Theater restoration in partnership with the Cape Verdean Association. This leverages the financial capacity of both organizations to secure construction loans and grant funding as well as private donations and historic tax credits. The City of New Bedford is a strong partner and frequently turns to WHALE for the restoration of buildings owned by the city through their abandoned properties initiative or receivership program. These building are usually adapted for use as affordable housing. Occasionally, WHALE undertakes a historic restoration with no partners because the building is derelict and the community will benefit from the new use, like the Co-Creative Center which provides affordable shared workspace for New Bedford artists.

WHALE has a 60-year track record of successfull historic restoration and adaptive reuse that has transformed the city of New Bedford. Experienced staff and a supportive Board as well as strong partnerships with city and state leaders and agencies provide a foundation for the successful transformation of underused and often dilapidated properties into community assets . WHALE's longstanding membership and donor relationships provide the operating capitol to identify and undertake historic restoration projects,while foundation, state and city grants provide high-level funding for large scale projects.

Over 60 years, WHALE has had a transformative impact on the City of New Bedford and its residents. The 72 historic buildings adapted for use as affordable housing give low-income families the dignity of home ownership or clean, upgraded rental apartments. The number of families living changed lives in WHALE’s restored buildings is easy to quantify, but stabilization of neighborhoods through the transformation of blighted buildings into beautifully restored historic architecture is harder to quality, yet truly significant.
The New Bedford Whaling National Historic Park owes much of its success to WHALE’s central role in the establishment of a Historic District and the restoration of numerous downtown buildings as well as cobblestone streets. The impact on New Bedford’s economy through tourism and commercial growth has been transformative. The Creative Economy has been fostered by WHALE’s restoration projects, from the Zeiterion Theater restoration decades ago, to the nearly complete restoration of the derelict First Baptist Church as a community performing arts center, the Steeple Playhouse. The jobs created, housing developed, and economic gain through WHALE’s role in creating a strong heritage and arts economy are measures of WHALE’s success.
In 2021, WHALE’s project injected $20M into the New Bedford economy through funding for restoration projects, and while each project initially creates construction jobs and supports local contractors and vendors, they ultimately expand affordable housing, transform neighborhoods, and grow the economy for all the city’s residents.

Financials

Waterfront Historic Area League of New Bedford Inc
Fiscal year: Jan 01 - Dec 31
Financial documents
2021
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021 info

SOURCE: IRS Form 990

0.40

Average of 0.28 over 10 years

Months of cash in 2021 info

SOURCE: IRS Form 990

4.7

Average of 3.3 over 10 years

Fringe rate in 2021 info

SOURCE: IRS Form 990

23%

Average of 17% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Waterfront Historic Area League of New Bedford Inc

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Waterfront Historic Area League of New Bedford Inc

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Waterfront Historic Area League of New Bedford Inc

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Waterfront Historic Area League of New Bedford Inc’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2017 2018 2019 2020 2021
Unrestricted surplus (deficit) before depreciation -$795,793 $539,079 $87,378 $215,637 -$96,537
As % of expenses -30.8% 67.0% 6.8% 56.3% -7.9%
Unrestricted surplus (deficit) after depreciation -$796,495 $536,892 $87,095 $213,964 -$124,326
As % of expenses -30.8% 66.6% 6.8% 55.6% -10.0%
Revenue composition info
Total revenue (unrestricted & restricted) $1,853,563 $998,506 $1,495,919 $680,876 $938,473
Total revenue, % change over prior year 71.9% -46.1% 49.8% -54.5% 37.8%
Program services revenue 4.2% 4.7% 4.6% 7.4% 2.6%
Membership dues 3.4% 6.9% 4.5% 11.0% 8.1%
Investment income 0.0% 3.5% 13.8% 0.0% 0.0%
Government grants 54.0% 16.2% 34.1% 21.3% 52.7%
All other grants and contributions 38.4% 76.6% 45.9% 68.5% 35.7%
Other revenue 0.0% -8.0% -2.8% -8.2% 0.8%
Expense composition info
Total expenses before depreciation $2,584,749 $803,996 $1,280,937 $382,819 $1,219,919
Total expenses, % change over prior year 688.2% -68.9% 59.3% -70.1% 218.7%
Personnel 7.0% 26.6% 17.8% 67.1% 19.7%
Professional fees 0.8% 1.3% 0.8% 2.9% 1.2%
Occupancy 0.5% 1.5% 0.9% 3.1% 1.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 0.0% 0.0% 0.0% 0.0% 0.0%
All other expenses 91.6% 70.7% 80.4% 26.8% 78.1%
Full cost components (estimated) info 2017 2018 2019 2020 2021
Total expenses (after depreciation) $2,585,451 $806,183 $1,281,220 $384,492 $1,247,708
One month of savings $215,396 $67,000 $106,745 $31,902 $101,660
Debt principal payment $0 $261,775 $0 $285,742 $0
Fixed asset additions $1,804 $941,368 $0 $0 $0
Total full costs (estimated) $2,802,651 $2,076,326 $1,387,965 $702,136 $1,349,368

Capital structure indicators

Liquidity info 2017 2018 2019 2020 2021
Months of cash 0.6 2.4 1.9 5.4 4.7
Months of cash and investments 0.7 2.4 1.9 5.4 4.7
Months of estimated liquid unrestricted net assets 2.1 14.8 10.1 40.2 11.5
Balance sheet composition info 2017 2018 2019 2020 2021
Cash $134,060 $160,216 $205,585 $172,743 $478,040
Investments $14,935 $0 $0 $0 $0
Receivables $403,017 $75,792 $27,106 $315,962 $71,544
Gross land, buildings, equipment (LBE) $34,576 $991,215 $980,215 $1,001,134 $1,001,976
Accumulated depreciation (as a % of LBE) 96.8% 5.1% 4.4% 7.0% 9.7%
Liabilities (as a % of assets) 63.6% 49.7% 48.4% 36.9% 48.2%
Unrestricted net assets $453,220 $990,112 $1,077,207 $1,291,171 $1,166,845
Temporarily restricted net assets $451,666 $111,260 N/A N/A N/A
Permanently restricted net assets $0 $0 N/A N/A N/A
Total restricted net assets $451,666 $111,260 $239,450 $329,112 $150,909
Total net assets $904,886 $1,101,372 $1,316,657 $1,620,283 $1,317,754

Key data checks

Key data checks info 2017 2018 2019 2020 2021
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

Executive Director

Ms. Erin Miranda

Erin Miranda brings nearly twenty years of non-profit administration and preservation experience to her role as Executive Director of WHALE. From 2004 to 2023 she worked with Preservation Massachusetts, most recently as President and Executive Director. In addition to overseeing all facets of the organization, she helped build program, such as the Preservation Circuit Riders and Most Endangered Historic Resources program and educational opportunities through the Preservation Conversation series and Action Center resources online. She also advocated for policy and initiatives, particularly the state and federal tax credit programs and their impact on communities and preservation efforts. Erin is eager to bring her statewide experience to focus on New Bedford and WHALE’s mission of fostering historic preservation while utilizing the city’s historic resources. Erin has served on the Board of Directors of the National Preservation Partners Network, Preservation Action and holds a BS in H

Number of employees

Source: IRS Form 990

Waterfront Historic Area League of New Bedford Inc

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
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There are no highest paid employees recorded for this organization.

Waterfront Historic Area League of New Bedford Inc

Board of directors
as of 09/15/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Ms. Diana Henry

Diana Henry Realty

Term: 2020 - 2023


Board co-chair

Mr. Jeremy Dagold

Clearesult

Term: 2021 - 2023

Lee Blake

New Bedford Historic Society

Andrew Burnes

HallKeen

Melissa Costa

MA Dept. of Mental Health

June Goguen

BayCoast Bank

Peter Hawes

Developer

Denise Madeira

Madeira Real Estate

Michael Murray

Attorney

Laura Parrish

Independent Creative Director

Danielle Poyant

CBIZ & MHM

Carl Silva

Union Carpenter - Local 1305

Ramon Silva

NB Economic Development Council

Patricia Thorntom

Artist

Colleen Trahan

UNFI

Corey Pacheco

Preservation Planner

Melissa Costa

Dept. of Mental Health

David Wyzenbeek

Artist and Architect

Organizational demographics

SOURCE: Self-reported; last updated 9/15/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data