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Nonprofiteer
← MADISON PARK DEVELOPMENT CORPORATION

Form 990 for tax year 2025

Filed by MADISON PARK DEVELOPMENT CORPORATION.

Totals

Total revenue
$14,835,211
Total expenses
$10,526,260
Contributions and grants received
$7,921,604
Grants paid
$1,113,068
Program service revenue
$2,084,494
Investment income
$3,833,550
Other revenue
$995,563
Total assets, end of year
$59,815,681
Total liabilities, end of year
$20,724,470
Net assets or fund balances, end of year
$39,091,211
Program services expenses (Part IX)
$9,434,106
Management and general expenses
$765,457
Fundraising expenses
$326,697
Program service expenses (Part III)
$9,434,106

Program services were 89.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $5,467,514

  • 1e · Government grants (contributions)

    $1,087,515

  • 1f · All other contributions, gifts and grants

    $1,366,575

  • 2a · Program service revenue: RENTAL INCOME

    total $876,553 · related or exempt $876,553

  • 2b · Program service revenue: INTEREST ON NOTES REC.

    total $445,179 · related or exempt $445,179

  • 2c · Program service revenue: DEVELOPMENT FEE REVENUE

    total $409,344 · related or exempt $409,344

  • 2d · Program service revenue: MANAGEMENT FEES

    total $305,106 · related or exempt $305,106

  • 2e · Program service revenue: PROGRAM FEES

    total $48,312 · related or exempt $48,312

  • 3 · Investment income

    total $2,622,135 · excluded $2,622,135

  • 7a · Gross sales of assets other than inventory

    securities $1,211,415

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $1,211,415

  • 7d · Net gain or loss

    total $1,211,415 · excluded $1,211,415

  • 11a · Other revenue: FORGIVENESS INCOME

    total $986,913 · related or exempt $986,913

  • 11d · All other revenue

    total $8,650 · related or exempt $8,650

  • 11e · Other revenue, total

    $995,563

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $89,823 · program services $89,823

  • 2 · Grants to domestic individuals

    total $1,023,245 · program services $1,023,245

  • 5 · Compensation of officers, directors and key employees

    total $577,122 · program services $520,938 · management and general $25,217 · fundraising $30,967

  • 7 · Other salaries and wages

    total $2,334,341 · program services $2,109,371 · management and general $100,221 · fundraising $124,749

  • 8 · Pension plan contributions

    total $220,104 · program services $196,540 · management and general $11,277 · fundraising $12,287

  • 9 · Other employee benefits

    total $601,038 · program services $536,694 · management and general $30,793 · fundraising $33,551

  • 11b · Fees: legal

    total $585,482 · program services $476,721 · management and general $108,761

  • 11c · Fees: accounting

    total $105,381 · program services $42,253 · management and general $63,128

  • 11f · Fees: investment management

    total $196,013 · program services $116,557 · management and general $79,456

  • 11g · Fees: other

    total $708,294 · program services $447,623 · management and general $205,688 · fundraising $54,983

  • 12 · Advertising and promotion

    total $8,945 · program services $7,263 · management and general $704 · fundraising $978

  • 13 · Office expenses

    total $420,727 · program services $278,452 · management and general $103,319 · fundraising $38,956

  • 16 · Occupancy

    total $425,558 · program services $425,558

  • 17 · Travel

    total $65,586 · program services $54,703 · management and general $8,766 · fundraising $2,117

  • 19 · Conferences, conventions and meetings

    total $109,880 · program services $109,880

  • 20 · Interest

    total $949,476 · program services $949,476

  • 22 · Depreciation, depletion and amortization

    total $107,797 · program services $91,432 · management and general $16,365

  • 23 · Insurance

    total $40,002 · program services $40,002

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $1,907,186 · program services $1,907,186

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $23,693 · program services $9,205 · management and general $11,762 · fundraising $2,726

  • 24e · All other expenses

    total $26,567 · program services $1,184 · fundraising $25,383

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $578,983 · end of year $2,064,889

  • 4 · Accounts receivable

    beginning of year $1,788,577 · end of year $2,863,129

  • 7 · Other notes and loans receivable

    beginning of year $14,664,791 · end of year $13,136,418

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,450 · end of year $15,336

  • 10a · Land, buildings and equipment: cost or other basis

    $946,830

  • 10b · Land, buildings and equipment: accumulated depreciation

    $687,591

  • 10c · Land, buildings and equipment, net

    beginning of year $366,964 · end of year $259,239

  • 11 · Investments: publicly traded securities

    beginning of year $35,478,043 · end of year $40,689,389

  • 15 · Other assets

    beginning of year $270,130 · end of year $787,281

  • 17 · Accounts payable and accrued expenses

    beginning of year $851,035 · end of year $879,614

  • 19 · Deferred revenue

    beginning of year $7,000 · end of year $84,064

  • 21 · Escrow or custodial account liability

    end of year $11,200

  • 23 · Secured mortgages and notes payable

    beginning of year $17,562,308 · end of year $17,140,532

  • 25 · Other liabilities

    beginning of year $4,002,236 · end of year $2,609,060

  • 27 · Net assets without donor restrictions

    beginning of year $30,222,592 · end of year $38,626,208

  • 28 · Net assets with donor restrictions

    beginning of year $519,767 · end of year $465,003

Mission and programs · 2025

Mission

MADISON PARK DEVELOPMENT CORPORATION'S OVERALL MISSION IS TO FOSTER THE SOCIAL, PHYSICAL, ECONOMIC AND CULTURAL RENAISSANCE OF THE ROXBURY COMMUNITY BY PROMOTING THE ECONOMIC SELF-SUFFICIENCY AND SOCIAL WELL-BEING OF LOW-INCOME AND MODERATE INCOME RESIDENTS FOR HOME OWNERSHIP, BUSINESS DEVELOPMENT OR EDUCATION.

Activities or mission (Part I)

SELF-SUFFICIENCY AND SOCIAL WELL-BEING OF LOW-INCOME AND MODERATE-INCOME RESIDENTS

  • REAL ESTATE - MPDC, THROUGH ITS REAL ESTATE PROGRAM, ACTS AS EITHER THE DEVELOPER OR CO-DEVELOPER ON PROPERTIES BENEFITTING LOW-INCOME RESIDENTS IN THE ROXBURY, MASSACHUSETTS COMMUNITY. IN ADDITION, MPDC OPERATES RENTAL PROPERTIES BENEFITTING THE LOW-INCOME RESIDENTS IN THE ROXBURY, MASSACHUSETTS COMMUNITY. THE REAL ESTATE PROGRAM ALSO INCLUDES THE COMPANY'S ASSET MANAGEMENT BUSINESS WHICH OVERSEES THE OPERATIONS OF ALL RESIDENTIAL AND COMMERCIAL RENTAL PROPERTIES, AS WELL AS ITS EARLY STAGE DEVELOPMENT ACTIVITIES.

    Expenses $5,771,955 · Grants $1,113,068 · Revenue $2,155,192

  • HIBERNIAN HALL - THE HIBERNIAN HALL PROGRAM PROMOTES, PRODUCES AND PRESENTS PERFORMING ARTS PROGRAMS THAT CELEBRATE THE MULTI-CULTURAL HERITAGE OF ROXBURY. IN ADDITION, THE HALL IS RENTED FOR VARIOUS CELEBRATORY AND CULTURAL FUNCTIONS.

    Expenses $1,013,058 · Revenue $876,553

  • COMMUNITY ACTION- MPDC, THROUGH ITS COMMUNITY ORGANIZING ACTIVITIES, SEEKS TO PROMOTE AN ACTIVE AND HEALTHY ENVIRONMENT FOR LOCAL RESIDENTS THROUGH PROGRAMMING FOCUSED ON HEALTH EQUITY AND WELLNESS, CIVIC ENGAGEMENT, YOUTH LEADERSHIP AND WORKFORCE DEVELOPMENT, RESIDENTIAL LEADERSHIP AND PUBLIC SAFETY INITIATIVES.

    Expenses $2,649,093 · Revenue $48,312

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ayanna Hines

    PRESIDENT (UNTIL 07/25)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Chanda K Smart

    DIRECTOR (UNTIL 07/25)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Dwayne Watts

    DIRECTOR (UNTIL 07/25)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Gloria E Brooks

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Ivelise Rivera

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Jeanne Pinado

    DIRECTOR (AS OF 09/25)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Malik Aziz

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Nina Ruff

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Robert L Terrell

    DIRECTOR (UNTIL 02/25)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Sonrisa Haynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Amanda Puricelli

    CFO

    Total calculated
    $0
    Hours/week
    40 + 3 related

  • Ingrid Tucker

    CEO (UNTIL 07/25)

    Total calculated
    $332,141
    From this org
    $307,946
    From related orgs
    $0
    Other
    $24,195
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $177,946
    Bonus
    $0
    Other
    $130,000
    Deferred
    $7,118
    Nontaxable benefits
    $17,077
    Filer's total
    $332,141

  • Intiya Ambrogi-Isaza

    VICE PRESIDENT OF REAL ESTATE

    Total calculated
    $244,980
    From this org
    $216,285
    From related orgs
    $0
    Other
    $28,695
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $210,285
    Bonus
    $6,000
    Other
    $0
    Deferred
    $8,651
    Nontaxable benefits
    $20,044
    Filer's total
    $244,980

  • Kate Bennet

    INTERIM CEO (AS OF 08/25)

    Total calculated
    $0
    Hours/week
    32 + 3 related

  • Antonio Rodriguez

    SENIOR ASSET MANAGER

    Total calculated
    $152,729
    From this org
    $137,916
    From related orgs
    $0
    Other
    $14,813
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,416
    Bonus
    $3,500
    Other
    $0
    Deferred
    $5,517
    Nontaxable benefits
    $9,296
    Filer's total
    $152,729

  • Lyndon Hadyn Vincent

    DIRECTOR OF COMMUNITY ACTION

    Total calculated
    $200,739
    From this org
    $148,438
    From related orgs
    $0
    Other
    $52,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,938
    Bonus
    $6,500
    Other
    $0
    Deferred
    $5,937
    Nontaxable benefits
    $46,364
    Filer's total
    $200,739

  • Megan Reagon

    SENIOR PROJECT MANAGER

    Total calculated
    $155,175
    From this org
    $128,573
    From related orgs
    $0
    Other
    $26,602
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,376
    Bonus
    $3,500
    Other
    $4,697
    Deferred
    $5,143
    Nontaxable benefits
    $21,459
    Filer's total
    $155,175

  • Meghan Higgins

    DIRECTOR OF COMMUNITY ACTION GRANTS & EVALUATION

    Total calculated
    $130,093
    From this org
    $117,969
    From related orgs
    $0
    Other
    $12,124
    Hours/week
    40

  • Silvia Ramirez

    CONTROLLER

    Total calculated
    $143,263
    From this org
    $111,071
    From related orgs
    $0
    Other
    $32,192
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
INCLUDED IN PART II, COLUMN B(II) ARE AMOUNTS REPRESENTING BONUS PAYMENTS. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUAL'S 2025 W-2, AND APPROVED BY THE BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 2451 WASHINGTON LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

  • MADISON BARD LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

  • MADISON GATEWAY LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $3,861

    Directly controlled by MPDC

  • MADISON PROPERTY DEVELOPMENT LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

  • MADISON SCHOOLHOUSE LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

  • MADISON TROPICAL LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

  • P10 DEVELOPMENT SERVICES LLC

    RENTAL REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

  • TROPICAL-MELNEA HOLDINGS LLC

    REAL ESTATE · MA · income $0 · assets $0

    Directly controlled by MPDC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ADAMS ORCHARD LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • BERYL GARDENS LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • DUDLEY GREENVILLE LLC

    RENTAL REAL ESTATE · MA

  • MADISON BOTOLPH II LP

    RENTAL REAL ESTATE · MA

  • MADISON HAYNES LLC

    RENTAL REAL ESTATE · MA

  • MADISON MELNEA CASS LLC

    RENTAL REAL ESTATE · MA

  • MADISON PARK IV 2011 LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • MADISON TRINITY LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • MPIII TOWNHOMES LLC

    RENTAL REAL ESTATE · MA

  • SCHOOL HOUSE BROOKLEDGE CUMMINS LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • SCHOOL HOUSE KENILWORTH WILLIAMS LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • SMITH SENIOR RESIDENCES LLC

    RENTAL REAL ESTATE · MA

  • MADISON TRINITY 2085 DEVELOPMENT LLC

    RENTAL REAL ESTATE · MA

  • MADISON WILLIAMS LLC

    RENTAL REAL ESTATE · MA

  • RUGGLES SHAWMUT HOUSING LLC

    RENTAL REAL ESTATE · MA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ADAMS ORCHARD INC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$37 · controlled entity

    Directly controlled by MPDC

  • BERYL GARDENS COOPERATIVE CORPORATION

    C · RENTAL REAL ESTATE · MA

  • BERYL GARDENS INC

    C · RENTAL REAL ESTATE · MA

  • DUDLEY GREENVILLE MM LLC

    C · RENTAL REAL ESTATE · MA · 100% owned · share of income -$251,432 · share of assets $13,476,380 · controlled entity

    Directly controlled by MPDC

  • MADISON BOTOLPH GP INC

    C · RENTAL REAL ESTATE · MA

  • MADISON HAYNES MM LLC

    C · RENTAL REAL ESTATE · MA

  • MADISON MELNEA CASS MM LLC

    C · RENTAL REAL ESTATE · MA

  • MADISON PARK IV GP LLC

    C · RENTAL REAL ESTATE · MA

  • MADISON WILLIAMS MM LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$39 · share of assets $23,892 · controlled entity

    Directly controlled by MPDC

  • MPIII TOWNHOMES MM LLC

    C · RENTAL REAL ESTATE · MA

  • MTV INC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$14,447 · share of assets $51 · controlled entity

    Directly controlled by MPDC

  • SCHOOLHOUSE B C MADISON PARK AND EAF LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$1,867 · share of assets $5,708 · controlled entity

    Directly controlled by MPDC

  • SCHOOLHOUSE K W MADISON PARK AND EAF LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$2,023 · share of assets $651 · controlled entity

    Directly controlled by MPDC

  • SMITH SENIOR RESIDENCES MM LLC

    C · RENTAL REAL ESTATE · MA

Provenance

Return type
form_990
Tax year
2025
Filed
4 August 2026
IRS schema version
2025v4.2
Source object
202632169349301008

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