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← MADRONE COMMUNITY DEVELOPMENT FOUNDATION

Form 990 for tax year 2024

Filed by MADRONE COMMUNITY DEVELOPMENT FOUNDATION.

Totals

Total revenue
$48,054
Total expenses
$106,090
Contributions and grants received
$50
Grants paid
$0
Program service revenue
$48,000
Investment income
$4
Other revenue
$0
Total assets, end of year
$72,133,423
Total liabilities, end of year
$72,194,824
Net assets or fund balances, end of year
-$61,401
Program services expenses (Part IX)
$85,410
Management and general expenses
$20,680
Fundraising expenses
$0
Program service expenses (Part III)
$85,410

Program services were 80.5% 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.

  • 1f · All other contributions, gifts and grants

    $50

  • 2a · Program service revenue: PROGRAM FEES

    total $48,000 · related or exempt $48,000

  • 3 · Investment income

    total $4 · excluded $4

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $56,250 · program services $50,625 · management and general $5,625

  • 10 · Payroll taxes

    total $5,073 · program services $4,566 · management and general $507

  • 11c · Fees: accounting

    total $4,670 · management and general $4,670

  • 11g · Fees: other

    total $475 · management and general $475

  • 12 · Advertising and promotion

    total $50 · program services $50

  • 13 · Office expenses

    total $2,856 · management and general $2,856

  • 16 · Occupancy

    total $3,958 · program services $938 · management and general $3,020

  • 17 · Travel

    total $679 · program services $679

  • 19 · Conferences, conventions and meetings

    total $6,331 · program services $6,331

  • 20 · Interest

    total $22,221 · program services $22,221

  • 22 · Depreciation, depletion and amortization

    total $45 · management and general $45

  • 23 · Insurance

    total $1,672 · management and general $1,672

  • 24a · Other expenses: SUPPLIES

    total $852 · management and general $852

  • 24b · Other expenses: MEALS

    total $499 · management and general $499

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $311 · management and general $311

  • 24d · Other expenses: BANK FEES

    total $148 · management and general $148

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $57,173

  • 2 · Savings and temporary cash investments

    end of year $63,162,008

  • 4 · Accounts receivable

    end of year $48,000

  • 9 · Prepaid expenses and deferred charges

    end of year $14,111

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

    $8,540,282

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

    $45

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $8,540,237

  • 15 · Other assets

    beginning of year $0 · end of year $311,894

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,365 · end of year $1,031,900

  • 20 · Tax-exempt bond liabilities

    end of year $70,870,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $292,924

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$3,365 · end of year -$61,401

Mission and programs · 2024

Mission

TO LESSEN THE BURDENS OF GOVERNMENT BY ASSISTING LOCAL GOVERNMENTS, PUBLIC AGENCIES, SCHOOLS, COMMUNITY COLLEGES, COLLEGES AND UNIVERSITIES IN ACQUIRING, DEVELOPING AND CONSTRUCTING FACILITIES, INCLUDING EDUCATIONAL, COMMUNITY, INFRASTRUCTURE AND HOUSING FACILITIES. MADRONE WAS ALSO FORMED TO ASSIST GOVERNMENTS IN MEETING THE RESTORATION AND PLANTING GOALS FOR PARKS, FORESTS, AND STREETS.

Activities or mission (Part I)

ASSISTING WITH THE DEVELOPMENT AND CONSTRUCTION OF STUDENT AND WORKFORCE HOUSING

  • THE CHARITABLE PURPOSES OF THE ORGANIZATION ARE TO ENGAGE IN A BROAD RANGE OF ACTIVITIES TO:- ASSIST STATE AND LOCAL GOVERNMENTS, INCLUDING BUT NOT LIMITED TO CITIES, COUNTIES, PUBLIC UNIVERSITIES, COLLEGES, COMMUNITY COLLEGES, SCHOOLS AND OTHER STATE AND LOCAL GOVERNMENTAL UNITS, IN LESSENING THEIR BURDENS OF GOVERNMENT, INCLUDING BUT NOT LIMITED TO THROUGH THE PROVISION OF HOUSING FOR RESIDENTS, WORKFORCE AND STUDENTS; EDUCATIONAL FACILITIES; COURT HOUSES; LIBRARIES; OTHER PUBLIC FACILITIES; AND PUBLIC INFRASTRUCTURE. THESE PURPOSES MAY BE ACCOMPLISHED THROUGH VARIOUS MEANS, INCLUDING WITHOUT LIMITATION, THE ACQUISITION, DEVELOPMENT, CONSTRUCTION, OWNERSHIP, MAINTENANCE, MANAGEMENT, OPERATION AND DISPOSITION OF SUCH FACILITIES;- ASSIST PRIVATE CHARITABLE ORGANIZATIONS, INCLUDING PRIVATE SCHOOLS, COLLEGES, UNIVERSITIES AND HOSPITALS, IN THE PROVISION OF ADMINISTRATIVE FACILITIES, EDUCATIONAL FACILITIES AND HOUSING FOR THEIR WORKFORCE AND STUDENTS. THESE PURPOSES MAY BE ACCOMPLISHED THROUGH VARIOUS MEANS, INCLUDING WITHOUT LIMITATION, THE ACQUISITION, DEVELOPMENT, CONSTRUCTION, OWNERSHIP, MAINTENANCE, MANAGEMENT, OPERATION AND DISPOSITION OF SUCH FACILITIES; AND - ASSIST STATE AND LOCAL GOVERNMENTS NATIONALLY IN MEETING THE RESTORATION AND PLANTING GOALS FOR PARKS, FORESTS AND STREETS.

    Expenses $85,410 · Revenue $48,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard N Waugh

    PRESIDENT

    Total calculated
    $33,750
    From this org
    $33,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Thomas Higgins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pria Hidisyan

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sundee Wislow

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Zachary Heineman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Blair Tavenner

    CHIEF OPERATING OFFICER

    Total calculated
    $22,500
    From this org
    $22,500
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

No itemized grants to organizations on this return.

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.

  • MADRONE MEMPHIS STUDENT HOUSING I LLC

    CONSTRUCTION AND LEASING ACTIVITIES · TN · income $25 · assets $72,034,738

    Directly controlled by MADRONE COMMUNITY DEVELOPMENT FOUNDATION

  • MADRONE - FLORIDA TECH STUDENT HOUSING I LLC

    CONSTRUCTION AND LEASING ACTIVITIES · FL · income $0 · assets $0

    Directly controlled by MADRONE COMMUNITY DEVELOPMENT FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
30 May 2025
IRS schema version
2024v5.1
Source object
202541539349300124

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