Deb Boyce Senior Financial Analyst			Ben Caswell Executive Director
Liz Costa Administrative Assistant			Joseph Cullen Director of Finance
Adam Dworkin Accounting Manager			Tonya Ingram Administrative Coordinator
Marietta Joseph Deputy Director of Financing Programs			Jane Kaminski Receptionist
Linda Lane Director of Administration			Lyle Lawrence Deputy Director of Financing Programs
Katie Murray Senior Staff Accountant			Rick Pass IT Manager
Jose Peralta Manager, Pool Loan Program			Laurie Sass Administrative Assistant
Liam Sullivan Director of Public Affairs

Click to download a copy of Massachusetts HEFA 2009 Annual Report. (pdf)

Click to download a copy of Massachusetts HEFA 2009 Audited Financial Statements. (pdf)

If you would like a complete copy of HEFA's financials, please email Laurie Sass with your request.

The Massachusetts Health and Educational Facilities Authority provides a range of appropriate capital-related financial products and other services to eligible nonprofit institutions in the fields of health care, higher education, science, culture, and human services.  The Authority provides these services in a diligent, responsive, and efficient manner to enable nonprofit institutions to reduce the cost of capital, provide critical services, and enhance the quality of life of the residents of the Commonwealth.

For over forty years, HEFA has partnered with Massachusetts’ nonprofit organizations, providing the financing they need to expand services, update facilities and employ citizens throughout the Commonwealth. HEFA’s partners heal us, educate us, and enrich all of our lives. And with absolutely no taxpayer money and a dedicated staff of 15, HEFA is a model of efficiency.

For more than 40 years, HEFA has served the nonprofit institutions that serve Massachusetts - providing them the financing they need to deliver our internationally renowned healthcare, educate our college students and serve the needy.

The largest issuer of tax-exempt revenue bonds in the Commonwealth, HEFA has provided more than $38 billion of private investment capital to nonprofits, saving these organizations billions of additional dollars. Last year alone, HEFA financed 63 projects for hospitals, colleges and other nonprofit institutions across the state that totaled more than $3.2 billion - and saved them more than $600 million in debt service costs.

The money HEFA saves its nonprofit partners allows them to reinvest in their facilities, expand important services and employ more of the citizens of Massachusetts. In fact according to the Boston Business Journal, of the 25 largest employers in the Commonwealth 12 come to HEFA for their financing needs. And of the 25 largest construction projects underway or completed last year in the state, HEFA financed nine of them. A measurable impact.

HEFA charges its nonprofit partners the lowest fees possible - lower than any other competing bond issuer - budgeting only enough to cover operating costs of an extremely efficient staff of 15 dedicated professionals. Any retained earnings are held in a trust that provides loan and grant programs for the nonprofits we serve. And HEFA does not get one dollar from taxpayers or the state.

So whether it's a hospital diagnosing illness with the latest equipment and technology, a university inspiring our students to greatness, or a research facility finding its next important scientific discovery, HEFA's goal is always the same: to give nonprofits the tools they need to strengthen and grow. Every step forward for nonprofits is a step forward for Massachusetts.

HEFA helps nonprofits do what they do best.