Form 990 for tax year 2023
Filed by MADISON PARK HOUSING CORPORATION.
Totals
- Total revenue
- $2,307,030
- Total expenses
- $119,901
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,635,396
- Investment income
- $671,634
- Other revenue
- $0
- Total assets, end of year
- $63,589,848
- Total liabilities, end of year
- $181,190
- Net assets or fund balances, end of year
- $63,408,658
- Program services expenses (Part IX)
- $116,883
- Management and general expenses
- $3,018
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $116,883
Program services were 97.5% 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: INTEREST ON NOTES RECE
total $1,635,396 · related or exempt $1,635,396
-
3 · Investment income
total $671,634 · excluded $671,634
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $3,018 · management and general $3,018
-
11f · Fees: investment management
total $29,425 · program services $29,425
-
13 · Office expenses
total $84,560 · program services $84,560
-
24a · Other expenses: CORPORATE TAXES
total $2,000 · program services $2,000
-
24e · All other expenses
total $898 · program services $898
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $752,904 · end of year $22,002
-
2 · Savings and temporary cash investments
beginning of year $7,800,000 · end of year $7,800,000
-
7 · Other notes and loans receivable
beginning of year $35,491,223 · end of year $35,431,623
-
13 · Investments: program-related
beginning of year $8,153,638 · end of year $9,488,230
-
15 · Other assets
beginning of year $9,239,344 · end of year $10,847,993
-
23 · Secured mortgages and notes payable
beginning of year $1,018,113 · end of year $181,190
-
27 · Net assets without donor restrictions
beginning of year $60,418,996 · end of year $63,408,658
Mission and programs · 2023
Mission
THE PRIMARY MISSION IS TO PROVIDE SUPPORT FOR LOW INCOME HOUSING.
-
THE ORGANIZATION RECEIVED A CONTRIBUTION OF A NOTE RECEIVABLE DUE FROM A LOW-INCOME HOUSING PROJECT TO SUPPORT THEIR MISSION OF PROVIDING SUPPORT TO LOW-INCOME HOUSING BY PROVIDING FINANCING TO A LOW INCOME HOUSING PROJECT.
Expenses $116,883 · Revenue $1,635,396
As filed on the 2023 return.
Listed in Part VII
-
Ayanna HinesAYANNA HINES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Chanda K SmartCHANDA K SMART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Deayne WattsDEAYNE WATTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Gloria E BrooksGLORIA E BROOKS
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Ivelise RiveraIVELISE RIVERA
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Lisa MorishantiLISA MORISHANTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Malik AzizMALIK AZIZ
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Nina RuffNINA RUFF
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Robert L TerrellROBERT L TERRELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Sonrisa HaynesSONRISA HAYNES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Victoria Lynn AwkwardVICTORIA LYNN AWKWARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 3 related
-
Evelyn BarnesEVELYN BARNES
CHIEF FINANCIAL OFFICER
- Total calculated
- $169,869
- From this org
- $0
- From related orgs
- $153,531
- Other
- $16,338
- Hours/week
- 40 + 3 related
Schedule J breakdown matched by us
- Base
- $0 + $143,531 related
- Bonus
- $0 + $10,000 related
- Other
- $0
- Deferred
- $0 + $6,054 related
- Nontaxable benefits
- $0 + $10,284 related
- Filer's total
- $0 + $169,869 related
-
Intiya Ambrogi-IsazaINTIYA AMBROGI-ISAZA
VICE PRESIDENT REAL ESTATE
- Total calculated
- $189,248
- From this org
- $0
- From related orgs
- $161,916
- Other
- $27,332
- Hours/week
- 40 + 3 related
Schedule J breakdown matched by us
- Base
- $0 + $151,916 related
- Bonus
- $0 + $10,000 related
- Other
- $0
- Deferred
- $0 + $6,458 related
- Nontaxable benefits
- $0 + $20,874 related
- Filer's total
- $0 + $189,248 related
-
Leslie A ReidLESLIE A REID
CHIEF EXECUTIVE OFFICER
- Total calculated
- $219,293
- From this org
- $0
- From related orgs
- $191,975
- Other
- $27,318
- Hours/week
- 40 + 3 related
Schedule J breakdown matched by us
- Base
- $0 + $188,675 related
- Bonus
- $0 + $3,300 related
- Other
- $0
- Deferred
- $0 + $1,587 related
- Nontaxable benefits
- $0 + $25,731 related
- Filer's total
- $0 + $219,293 related
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
The filer's explanations (Part III)
- PART I, LINE 3
- MADISON PARK HOUSING CORPORATION HAS NO EMPLOYEES. ALL COMPENSATION IS PROVIDED TO EMPLOYEES OF ITS SOLE MEMBER, MADISON PARK DEVELOPMENT CORPORATION. PELASE REFER TO MPDC'S FORM 990 FOR COMPENSATION, INFORMATION AND DECISION MAKING.
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.
-
MADISON PARK DEVELOPMENT CORPORATION
501(C)(3) · AFFORDABLE HOUSING · MA
-
MADISON PARK ECONOMIC DEVELOPMENT CORP
501(C)(3) · AFFORDABLE HOUSING · MA
Directly controlled by MPDC
-
LOWER ROXBURY COMMUNITY CORPORATION
501(C)(3) · AFFORDABLE HOUSING · MA
Directly controlled by MPDC
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.
-
ADAMS ORCHARD LIMITED PARTNERSHIP
RENTAL REAL ESTATE · MA · general or managing partner
-
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 · general or managing partner
-
MADISON MELNEA CASS LLC
RENTAL REAL ESTATE · MA · general or managing partner
-
MADISON PARK IV 2011 LIMITED PARTNERSHIP
RENTAL REAL ESTATE · MA
-
MADISON TRINITY LIMITED PARTNERSHIP
RENTAL REAL ESTATE · MA · general or managing partner
-
MPIII TOWNHOMES LLC
RENTAL REAL ESTATE · MA
-
SCHOOL HOUSE BROOKLEDGE CUMMINS LIMITED PARTNERSHIP
RELATED · RENTAL REAL ESTATE · MA · 0.01% owned · general or managing partner
Directly controlled by SCHOOLHOUSE B C MADISON PARK AND EAF LLC
-
SCHOOL HOUSE KENILWORTH WILLIAMS LIMITED PARTNERSHIP
RENTAL REAL ESTATE · MA · general or managing partner
-
SMITH SENIOR RESIDENCES 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
-
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
-
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
-
MPIII TOWNHOMES MM LLC
C · RENTAL REAL ESTATE · MA
-
MTV INC
C · RENTAL REAL ESTATE · MA
-
SMITH SENIOR RESIDENCES MM LLC
C · RENTAL REAL ESTATE · MA
-
SCHOOLHOUSE B C MADISON PARK AND EAF LLC
C · RENTAL REAL ESTATE · MA
-
SCHOOLHOUSE K W MADISON PARK AND EAF LLC
C · RENTAL REAL ESTATE · MA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403199349301225
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