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← MADISON PARK DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by MADISON PARK DEVELOPMENT CORPORATION.

Totals

Total revenue
$5,036,732
Total expenses
$7,966,807
Contributions and grants received
$2,392,298
Grants paid
$1,054,956
Program service revenue
$2,304,211
Investment income
$223,815
Other revenue
$116,408
Total assets, end of year
$36,686,988
Total liabilities, end of year
$23,520,682
Net assets or fund balances, end of year
$13,166,306
Program services expenses (Part IX)
$7,015,991
Management and general expenses
$441,471
Fundraising expenses
$509,345
Program service expenses (Part III)
$7,015,991

Program services were 88.1% 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.

  • 1e · Government grants (contributions)

    $928,969

  • 1f · All other contributions, gifts and grants

    $1,463,329

  • 2a · Program service revenue: RENTAL INCOME

    total $967,528 · related or exempt $967,528

  • 2b · Program service revenue: DEVELOPMENT FEE REVENU

    total $551,160 · related or exempt $551,160

  • 2c · Program service revenue: INTEREST ON NOTES RECE

    total $447,274 · related or exempt $447,274

  • 2d · Program service revenue: MANAGEMENT FEES

    total $301,925 · related or exempt $301,925

  • 2e · Program service revenue: PROGRAM FEES

    total $36,324 · related or exempt $36,324

  • 3 · Investment income

    total $223,815 · excluded $223,815

  • 11a · Other revenue: HISTORIC TAX CREDIT

    total $115,885 · related or exempt $115,885

  • 11d · All other revenue

    total $523 · related or exempt $523

  • 11e · Other revenue, total

    $116,408

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $101,964 · program services $101,964

  • 2 · Grants to domestic individuals

    total $952,992 · program services $952,992

  • 5 · Compensation of officers, directors and key employees

    total $578,410 · program services $481,525 · management and general $48,552 · fundraising $48,333

  • 7 · Other salaries and wages

    total $2,767,493 · program services $2,302,789 · management and general $232,403 · fundraising $232,301

  • 8 · Pension plan contributions

    total $146,940 · program services $122,762 · management and general $12,296 · fundraising $11,882

  • 9 · Other employee benefits

    total $725,953 · program services $606,503 · management and general $60,745 · fundraising $58,705

  • 11b · Fees: legal

    total $13,263 · program services $12,832 · management and general $177 · fundraising $254

  • 11c · Fees: accounting

    total $86,392 · program services $74,894 · management and general $4,716 · fundraising $6,782

  • 11f · Fees: investment management

    total $9,149 · management and general $9,149

  • 11g · Fees: other

    total $374,965 · program services $356,057 · management and general $6,320 · fundraising $12,588

  • 12 · Advertising and promotion

    total $61,542 · program services $59,462 · management and general $853 · fundraising $1,227

  • 13 · Office expenses

    total $142,367 · program services $131,067 · management and general $4,668 · fundraising $6,632

  • 14 · Information technology

    total $150,410 · program services $128,349 · management and general $9,049 · fundraising $13,012

  • 16 · Occupancy

    total $436,206 · program services $395,426 · management and general $16,727 · fundraising $24,053

  • 17 · Travel

    total $101,905 · program services $76,933 · management and general $22,785 · fundraising $2,187

  • 19 · Conferences, conventions and meetings

    total $86,999 · program services $78,903 · management and general $5,534 · fundraising $2,562

  • 20 · Interest

    total $893,515 · program services $893,515

  • 22 · Depreciation, depletion and amortization

    total $135,833 · program services $128,372 · management and general $3,060 · fundraising $4,401

  • 23 · Insurance

    total $25,188 · program services $22,189 · management and general $1,230 · fundraising $1,769

  • 24a · Other expenses: OTHER EXPENSE

    total $87,977 · program services $26,975 · management and general $1,718 · fundraising $59,284

  • 24b · Other expenses: BAD DEBT

    total $26,136 · program services $26,136

  • 24c · Other expenses: EQUIPMENT RENTAL

    total $23,603 · program services $20,752 · management and general $1,169 · fundraising $1,682

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $23,083 · program services $14,600 · management and general $320 · fundraising $8,163

  • 24e · All other expenses

    total $14,522 · program services $994 · fundraising $13,528

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,537,902 · end of year $493,657

  • 4 · Accounts receivable

    beginning of year $3,682,000 · end of year $4,190,954

  • 7 · Other notes and loans receivable

    beginning of year $25,063,153 · end of year $22,890,497

  • 9 · Prepaid expenses and deferred charges

    end of year $30,794

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

    $1,416,740

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

    $930,224

  • 10c · Land, buildings and equipment, net

    beginning of year $440,402 · end of year $486,516

  • 11 · Investments: publicly traded securities

    beginning of year $4,928,455 · end of year $5,331,602

  • 13 · Investments: program-related

    beginning of year $1,100 · end of year $1,100

  • 15 · Other assets

    beginning of year $4,404,410 · end of year $3,261,868

  • 17 · Accounts payable and accrued expenses

    beginning of year $246,307 · end of year $367,843

  • 19 · Deferred revenue

    beginning of year $3,800 · end of year $700

  • 21 · Escrow or custodial account liability

    beginning of year $37,600 · end of year $35,000

  • 23 · Secured mortgages and notes payable

    beginning of year $17,657,136 · end of year $15,955,078

  • 25 · Other liabilities

    beginning of year $6,419,176 · end of year $7,162,061

  • 27 · Net assets without donor restrictions

    beginning of year $15,436,322 · end of year $13,021,165

  • 28 · Net assets with donor restrictions

    beginning of year $257,081 · end of year $145,141

Mission and programs · 2023

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 AND ADVOCATING FOR HOMEOWNERSHIP, BUSINESS DEVELOPMENT OR EDUCATION.

  • 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 $5,324,014 · Grants $1,054,956 · Revenue $1,453,091

  • 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 $1,001,522 · Revenue $967,528

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

    Expenses $690,455

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ayanna Hines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Chanda K Smart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Deayne Watts

    DIRECTOR

    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

  • Lisa Morishanti

    DIRECTOR

    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

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Sonrisa Haynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Victoria Lynn Awkward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Evelyn Barnes

    CHIEF FINANCIAL OFFICER

    Total calculated
    $169,869
    From this org
    $153,531
    From related orgs
    $0
    Other
    $16,338
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $143,531
    Bonus
    $10,000
    Other
    $0
    Deferred
    $6,054
    Nontaxable benefits
    $10,284
    Filer's total
    $169,869

  • Intiya Ambrogi-Isaza

    VICE PRESIDENT REAL ESTATE

    Total calculated
    $189,248
    From this org
    $161,916
    From related orgs
    $0
    Other
    $27,332
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $151,916
    Bonus
    $10,000
    Other
    $0
    Deferred
    $6,458
    Nontaxable benefits
    $20,874
    Filer's total
    $189,248

  • Leslie A Reid

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $219,293
    From this org
    $191,975
    From related orgs
    $0
    Other
    $27,318
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $188,675
    Bonus
    $3,300
    Other
    $0
    Deferred
    $1,587
    Nontaxable benefits
    $25,731
    Filer's total
    $219,293

  • Erica Davis

    DEWITT CENTER DIRECTOR

    Total calculated
    $129,135
    From this org
    $114,091
    From related orgs
    $0
    Other
    $15,044
    Hours/week
    40

  • Ingrid Tucker

    DEPUTY DIRECTOR

    Total calculated
    $237,457
    From this org
    $187,574
    From related orgs
    $0
    Other
    $49,883
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,824
    Bonus
    $10,750
    Other
    $0
    Deferred
    $7,900
    Nontaxable benefits
    $41,983
    Filer's total
    $237,457

  • Lyndon Vincent

    DIRECTOR OF COMMUNITY ACTION

    Total calculated
    $163,918
    From this org
    $128,308
    From related orgs
    $0
    Other
    $35,610
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,308
    Bonus
    $10,000
    Other
    $0
    Deferred
    $4,759
    Nontaxable benefits
    $30,851
    Filer's total
    $163,918

  • Megan Reagon

    SENIOR PROJECT MANAGER

    Total calculated
    $127,747
    From this org
    $116,923
    From related orgs
    $0
    Other
    $10,824
    Hours/week
    40

  • Roy Thomas

    RESOURCE DEVELOPMENT DIRECTOR

    Total calculated
    $120,591
    From this org
    $105,981
    From related orgs
    $0
    Other
    $14,610
    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 2023 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 $115,885 · assets $318,546

    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 $1,497,216

    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 $740,784

    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 · general or managing partner

  • 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 · 51% owned · share of income -$28 · 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 $1 · share of assets $1 · 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

  • MPIII TOWNHOMES MM LLC

    C · RENTAL REAL ESTATE · MA

  • MTV INC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$14,204 · 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 -$13,056 · share of assets $5,150 · controlled entity

    Directly controlled by MPDC

  • SCHOOLHOUSE K W MADISON PARK AND EAF LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$2,927 · share of assets $4,305 · controlled entity

    Directly controlled by MPDC

  • SMITH SENIOR RESIDENCES MM 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
202413199349301011

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