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Nonprofiteer
← MADISON PARK HOUSING INC

Form 990 for tax year 2023

Filed by MADISON PARK HOUSING INC.

Totals

Total revenue
$4,355,927
Total expenses
$5,727,979
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,355,927
Investment income
$0
Other revenue
$0
Total assets, end of year
$889,712
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$889,712
Program services expenses (Part IX)
$5,727,979
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$5,727,979

Program services were 100.0% 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.

  • 2a · Program service revenue: INCOME FROM INVESMENTS

    total $4,355,927 · related or exempt $4,355,927

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: LOSS FROM INVESMENTS IN

    total $5,727,979 · program services $5,727,979

Balance sheet

Part X, book values.

  • 13 · Investments: program-related

    beginning of year $4,339,730 · end of year $889,712

  • 27 · Net assets without donor restrictions

    beginning of year $4,339,730 · end of year $889,712

Mission and programs · 2023

Mission

TO PARTICIPATE IN PARTNERSHIPS FORMED FOR THE PURPOSE OF DEVELOPING AND OPERATING LOW-INCOME HOUSING

Activities or mission (Part I)

TO PROVIDE LOW-INCOME HOUSING

  • THE ORGANIZATION SHARES IN THE RENTAL INCOME AND LOSSES OF SEVERAL AFFORDABLE HOUSING PROJECTS.

    Expenses $5,727,979 · Revenue $4,355,927

As filed on the 2023 return.

Listed in Part VII

  • TED DANG

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • RICHARD QUACH

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • KLEIN LIEU

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • LESLIE FRANCIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • LINA SHETH

    INTERIM CHIEF EXECUTIVE OFFICER

    Total calculated
    $225,240
    From this org
    $223,500
    From related orgs
    $0
    Other
    $1,740
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $223,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,740
    Filer's total
    $225,240

  • ANDRE H MADEIRA

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $58,881
    From this org
    $57,828
    From related orgs
    $0
    Other
    $1,053
    Hours/week
    0.5

  • SEAN SULLIVAN

    INTERIM CHIEF EXECUTIVE OFFICER

    Total calculated
    $64,262
    From this org
    $63,462
    From related orgs
    $0
    Other
    $800
    Hours/week
    0.5

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

No itemized grants to organizations 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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202443169349300204

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