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Nonprofiteer
← MADISON PARK DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by MADISON PARK DEVELOPMENT CORPORATION.

Totals

Total revenue
$36,724,245
Total expenses
$19,759,239
Contributions and grants received
$34,074,700
Grants paid
$6,159,087
Program service revenue
$2,371,357
Investment income
$265,882
Other revenue
$12,306
Total assets, end of year
$53,164,938
Total liabilities, end of year
$22,422,579
Net assets or fund balances, end of year
$30,742,359
Program services expenses (Part IX)
$18,778,326
Management and general expenses
$387,548
Fundraising expenses
$593,365
Program service expenses (Part III)
$18,778,326

Program services were 95.0% 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.

  • 1d · Related organizations

    $31,020,848

  • 1e · Government grants (contributions)

    $1,341,202

  • 1f · All other contributions, gifts and grants

    $1,712,650

  • 2a · Program service revenue: RENTAL INCOME

    total $908,973 · related or exempt $908,973

  • 2b · Program service revenue: DEVELOPMENT FEE REVENUE

    total $728,570 · related or exempt $728,570

  • 2c · Program service revenue: MANAGEMENT FEES

    total $399,030 · related or exempt $399,030

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

    total $292,291 · related or exempt $292,291

  • 2e · Program service revenue: PROGRAM FEES

    total $42,493 · related or exempt $42,493

  • 3 · Investment income

    total $265,882 · excluded $265,882

  • 11d · All other revenue

    total $12,306 · related or exempt $12,306

  • 11e · Other revenue, total

    $12,306

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,347,626 · program services $5,347,626

  • 2 · Grants to domestic individuals

    total $811,461 · program services $811,461

  • 5 · Compensation of officers, directors and key employees

    total $766,932 · program services $656,085 · management and general $44,040 · fundraising $66,807

  • 7 · Other salaries and wages

    total $2,784,791 · program services $2,386,384 · management and general $154,582 · fundraising $243,825

  • 8 · Pension plan contributions

    total $95,382 · program services $80,658 · management and general $6,702 · fundraising $8,022

  • 9 · Other employee benefits

    total $802,329 · program services $678,470 · management and general $56,376 · fundraising $67,483

  • 11b · Fees: legal

    total $97,732 · program services $83,492 · management and general $11,995 · fundraising $2,245

  • 11c · Fees: accounting

    total $90,960 · program services $70,649 · management and general $12,549 · fundraising $7,762

  • 11f · Fees: investment management

    total $9,956 · management and general $9,956

  • 11g · Fees: other

    total $504,244 · program services $426,894 · management and general $14,587 · fundraising $62,763

  • 12 · Advertising and promotion

    total $78,339 · program services $71,390 · management and general $2,804 · fundraising $4,145

  • 13 · Office expenses

    total $193,909 · program services $176,627 · management and general $7,431 · fundraising $9,851

  • 14 · Information technology

    total $188,816 · program services $153,607 · management and general $10,984 · fundraising $24,225

  • 16 · Occupancy

    total $405,926 · program services $367,711 · management and general $15,420 · fundraising $22,795

  • 17 · Travel

    total $104,828 · program services $77,515 · management and general $24,934 · fundraising $2,379

  • 19 · Conferences, conventions and meetings

    total $120,412 · program services $108,783 · management and general $6,539 · fundraising $5,090

  • 20 · Interest

    total $803,392 · program services $803,392

  • 22 · Depreciation, depletion and amortization

    total $144,591 · program services $136,742 · management and general $3,167 · fundraising $4,682

  • 23 · Insurance

    total $33,361 · program services $28,804 · management and general $1,839 · fundraising $2,718

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $6,166,103 · program services $6,166,103

  • 24b · Other expenses: PERFORMANCE FEES

    total $66,039 · program services $66,039

  • 24c · Other expenses: EQUIPMENT RENTAL

    total $29,537 · program services $26,845 · management and general $1,086 · fundraising $1,606

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $22,395 · program services $19,301 · management and general $1,294 · fundraising $1,800

  • 24e · All other expenses

    total $90,178 · program services $33,748 · management and general $1,263 · fundraising $55,167

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $493,657 · end of year $578,983

  • 4 · Accounts receivable

    beginning of year $4,190,954 · end of year $1,788,577

  • 7 · Other notes and loans receivable

    beginning of year $22,890,497 · end of year $14,664,791

  • 9 · Prepaid expenses and deferred charges

    beginning of year $30,794 · end of year $17,450

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

    $1,257,512

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

    $890,548

  • 10c · Land, buildings and equipment, net

    beginning of year $486,516 · end of year $366,964

  • 11 · Investments: publicly traded securities

    beginning of year $5,331,602 · end of year $35,478,043

  • 13 · Investments: program-related

    beginning of year $1,100

  • 15 · Other assets

    beginning of year $3,261,868 · end of year $270,130

  • 17 · Accounts payable and accrued expenses

    beginning of year $367,843 · end of year $851,035

  • 19 · Deferred revenue

    beginning of year $700 · end of year $7,000

  • 21 · Escrow or custodial account liability

    beginning of year $35,000

  • 23 · Secured mortgages and notes payable

    beginning of year $15,955,078 · end of year $17,562,308

  • 25 · Other liabilities

    beginning of year $7,162,061 · end of year $4,002,236

  • 27 · Net assets without donor restrictions

    beginning of year $13,021,165 · end of year $30,222,592

  • 28 · Net assets with donor restrictions

    beginning of year $145,141 · end of year $519,767

Mission and programs · 2024

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 $14,546,474 · Grants $6,159,087 · Revenue $1,432,197

  • 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 $1,160,691 · Revenue $908,973

  • 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 $3,071,161 · Revenue $42,493

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

Listed in Part VII

  • Ayanna Hines

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Chanda K Smart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Dwayne 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 (UNTIL 7/24)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Malik Aziz

    DIRECTOR

    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 (UNTIL 7/24)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Evelyn Barnes

    CFO (UNTIL 06/24)

    Total calculated
    $62,654
    From this org
    $56,619
    From related orgs
    $0
    Other
    $6,035
    Hours/week
    40 + 3 related

  • Ingrid Tucker

    INTERIM CHIEF EXECUTIVE OFFICER

    Total calculated
    $288,931
    From this org
    $246,330
    From related orgs
    $0
    Other
    $42,601
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $226,720
    Bonus
    $19,610
    Other
    $0
    Deferred
    $10,263
    Nontaxable benefits
    $32,338
    Filer's total
    $288,931

  • Intiya Ambrogi-Isaza

    VICE PRESIDENT OF REAL ESTATE

    Total calculated
    $226,590
    From this org
    $197,203
    From related orgs
    $0
    Other
    $29,387
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $191,203
    Bonus
    $6,000
    Other
    $0
    Deferred
    $8,207
    Nontaxable benefits
    $21,180
    Filer's total
    $226,590

  • Leslie A Reid

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $188,757
    From this org
    $167,234
    From related orgs
    $0
    Other
    $21,523
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $137,234
    Bonus
    $0
    Other
    $30,000
    Deferred
    $5,659
    Nontaxable benefits
    $15,864
    Filer's total
    $188,757

  • Antonio Rodriguez

    SENIOR ASSET MANAGER

    Total calculated
    $154,135
    From this org
    $137,420
    From related orgs
    $0
    Other
    $16,715
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,420
    Bonus
    $6,000
    Other
    $0
    Deferred
    $5,604
    Nontaxable benefits
    $11,111
    Filer's total
    $154,135

  • Ayanna Cundiff

    DIRECTOR OF PEOPLE & CULTURE

    Total calculated
    $167,445
    From this org
    $147,075
    From related orgs
    $0
    Other
    $20,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,075
    Bonus
    $0
    Other
    $0
    Deferred
    $5,304
    Nontaxable benefits
    $15,066
    Filer's total
    $167,445

  • Erica Davis

    DEWITT CENTER DIRECTOR

    Total calculated
    $128,674
    From this org
    $114,911
    From related orgs
    $0
    Other
    $13,763
    Hours/week
    40

  • Lyndon Hadyn Vincent

    DIRECTOR OF YOUTH DEVELOPMENT & COMMUNITY SUPPORT

    Total calculated
    $183,637
    From this org
    $134,694
    From related orgs
    $0
    Other
    $48,943
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,694
    Bonus
    $6,000
    Other
    $0
    Deferred
    $14,253
    Nontaxable benefits
    $34,690
    Filer's total
    $183,637

  • Oren Richkin

    SENIOR PROJECT MANAGER

    Total calculated
    $135,674
    From this org
    $116,605
    From related orgs
    $0
    Other
    $19,069
    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
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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 4A
LESLIE REED RECEIVED SEVERANCE COMPENSATION FOR $30,000 DURING CALENDAR YEAR 2024.
PART I, LINE 7
INCLUDED IN PART II, COLUMN B(II) ARE AMOUNTS REPRESENTING BONUS PAYMENTS. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUAL'S 2024 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 $268,768 · assets $159,055

    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 $4,981

    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 $4,782

    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 -$67 · 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 · 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 -$28,024 · share of assets $100 · controlled entity

    Directly controlled by MPDC

  • SCHOOLHOUSE B C MADISON PARK AND EAF LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of assets $7,575 · controlled entity

    Directly controlled by MPDC

  • SCHOOLHOUSE K W MADISON PARK AND EAF LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$1,624 · share of assets $2,674 · controlled entity

    Directly controlled by MPDC

  • SMITH SENIOR RESIDENCES MM LLC

    C · RENTAL REAL ESTATE · MA

  • MADISON WILLIAMS MM LLC

    C · RENTAL REAL ESTATE · MA · 51% owned · share of income -$33 · share of assets $23,931 · controlled entity

    Directly controlled by MPDC

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202533109349302123

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