$8M Helps New Bedford Nonprofit Grow
Child & Family Services, Inc. Uses Tax-Exempt Bond from MassDevelopment & Salem Five Bank to Renovate & Equip Building Where It Can Expand Social Services Including Mental Health, Community Support & Emergency Services
April 28, 2022
Matthew Mogavero, 857-248-0868
mmogavero@massdevelopment.com
Sydney Ly
sly@massdevelopment.com
Jim Mazur, Child & Family Services, Inc.
508-742-1026
jmazur@cfservices.org
 |
| Rendering of Child & Family Services, Inc.’s new location at 965 Church St. in New Bedford, courtesy of the organization |
NEW BEDFORD, Mass. – MassDevelopment has issued an $8 million tax-exempt bond on behalf of Child & Family Services, Inc., a nonprofit providing social services to children and families, which will use proceeds to renovate and equip the former Regal House Furniture building located at 965 Church St. in New Bedford. The organization will close its two existing locations at 1061 Pleasant St. and 543 North St. in New Bedford and merge and expand critical services including mental health, community support, and emergency services programs at this new building in fall 2022. The new facility will feature a mental health counseling center and 24-hour inpatient clinic. Salem Five Bank purchased the bond.
“Nonprofit mental health providers like Child & Family Services, Inc. are essential in supporting and empowering underserved populations across the Commonwealth,” said Housing and Economic Development Secretary Mike Kennealy, who serves as chair of MassDevelopment’s Board of Directors. “The Baker-Polito Administration is committed to working with these organizations to advance services that improve people’s health and well-being.”
“The team at Child & Family Services, Inc. strengthens our communities by providing critical mental health and other supportive programs to children and families in need,” said MassDevelopment President and CEO Dan Rivera. “MassDevelopment is pleased to partner with Salem Five Bank to help the nonprofit expand services at a new facility in New Bedford.”
“We are happy to provide this tax-exempt bond to Child & Family Services, Inc. in support of its expansion,” said Salem Five Bank Vice President Cheryl DeLorenzo. “Child & Family Services has strong roots in our communities and provides crucial services to children and families throughout Southeastern Massachusetts.”
“Child & Family Services is one of the oldest nonprofits of its kind in the country, founded at the height of the whaling era to care for widows and orphans,” said New Bedford Mayor Jon Mitchell. “It has remained a vital institution in New Bedford because it has consistently anticipated and adapted to the changing needs of the City’s residents. This new facility is the latest example of Child and Family Services’ far-sighted approach to its mission, which no doubt will enable it to provide critical services for many years to come. I am grateful that MassDevelopment recognized this opportunity, and committed the financial support necessary to make it happen.”
Founded in 1843 as the New Bedford Orphans’ Home, Child & Family Services, Inc. is one of the oldest nonprofit institutions in southeastern Massachusetts dedicated to providing social services to children and families. The organization offers services through three divisions: mental health, community support, and adoption services. The mental health division is comprised of a licensed clinic that provides mental health assessments and therapy sessions for individuals, families, partners, and groups. The community support division includes support and role models for children and parents, care counseling and coordination, and in-home therapy. The adoption services division provides older children and impaired individuals in custody of the Department of Children and Families with adoption to families, primarily in Massachusetts; it also includes the post-adoption services program called Adoptive Journeys, which offers support groups, home-based counseling, adoption-competency training, and respite care. Based in New Bedford, Child & Family Services also administers programs in Cape Cod, Fall River, Florence, Lawrence, Plymouth, Waltham, and Worcester.
MassDevelopment has previously supported Child & Family Services, Inc. In 2017, the agency issued a $2.9 million tax-exempt bond to help the organization improve its mental health clinic at 1061 Pleasant St. in New Bedford and invest in new IT equipment. In 2013, the agency issued a $2.45 million tax-exempt bond to help the organization buy and renovate a building at 3057 Acushnet Ave. in New Bedford.
“We were thrilled to have the opportunity to work again with MassDevelopment as we continue to invest in the infrastructure that supports the work we do with children and families throughout Massachusetts,” said Child & Family Services, Inc. Chief Executive Officer Anne Sampaio. “MassDevelopment has been an important partner and we look forward to working with them on future projects.”
MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2021, MassDevelopment financed or managed 416 projects generating investment of more than $1.86 billion in the Massachusetts economy. These projects are estimated to create or support 6,578 jobs and build or preserve 1,909 housing units.
