Totals
- Total revenue
- $477,798
- Total expenses
- $515,498
- Contributions and grants received
- $373,622
- Grants paid
- $0
- Program service revenue
- $94,865
- Investment income
- $96
- Other revenue
- $9,215
- Total assets, end of year
- $1,177,038
- Total liabilities, end of year
- $719,976
- Net assets or fund balances, end of year
- $457,062
- Program services expenses (Part IX)
- $439,292
- Management and general expenses
- $71,290
- Fundraising expenses
- $4,916
- Program service expenses (Part III)
- $439,292
Program services were 85.2% 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.
-
1a · Federated campaigns
$67,933
-
1b · Membership dues
$2,250
-
1e · Government grants (contributions)
$250,000
-
1f · All other contributions, gifts and grants
$53,439
-
2a · Program service revenue: PROGRAM SERVICE FEES - MSP
total $94,865 · related or exempt $94,865
-
3 · Investment income
total $96 · excluded $96
-
8a · Fundraising events: gross income
$37,023
-
8b · Fundraising events: direct expenses
$27,808
-
8c · Net income from fundraising events
total $9,215
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $94,021 · program services $79,918 · management and general $13,163 · fundraising $940
-
7 · Other salaries and wages
total $185,479 · program services $157,657 · management and general $25,967 · fundraising $1,855
-
9 · Other employee benefits
total $21,257 · program services $18,068 · management and general $2,976 · fundraising $213
-
10 · Payroll taxes
total $28,181 · program services $23,954 · management and general $3,945 · fundraising $282
-
11c · Fees: accounting
total $29,140 · program services $24,769 · management and general $4,080 · fundraising $291
-
11g · Fees: other
total $107,104 · program services $91,039 · management and general $14,994 · fundraising $1,071
-
12 · Advertising and promotion
total $1,642 · program services $1,396 · management and general $230 · fundraising $16
-
16 · Occupancy
total $3,802 · program services $3,232 · management and general $532 · fundraising $38
-
17 · Travel
total $628 · program services $628
-
22 · Depreciation, depletion and amortization
total $1,020 · program services $867 · management and general $143 · fundraising $10
-
23 · Insurance
total $2,454 · management and general $2,454
-
24a · Other expenses: MASSSAVES BOOST
total $18,369 · program services $18,369
-
24b · Other expenses: PROGRAM EXPENSES
total $14,580 · program services $12,393 · management and general $2,041 · fundraising $146
-
24c · Other expenses: MISCELLANEOUS
total $4,020 · program services $3,417 · management and general $563 · fundraising $40
-
24d · Other expenses: BAD DEBT EXPENSE
total $2,358 · program services $2,358
-
24e · All other expenses
total $1,443 · program services $1,227 · management and general $202 · fundraising $14
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $192,488 · end of year $205,726
-
2 · Savings and temporary cash investments
beginning of year $191,021 · end of year $126,126
-
3 · Pledges and grants receivable
beginning of year $67,700 · end of year $190,200
-
4 · Accounts receivable
beginning of year $46,509 · end of year $49,445
-
9 · Prepaid expenses and deferred charges
beginning of year $5,540 · end of year $6,486
-
10a · Land, buildings and equipment: cost or other basis
$3,059
-
10b · Land, buildings and equipment: accumulated depreciation
$2,805
-
10c · Land, buildings and equipment, net
beginning of year $1,274 · end of year $254
-
15 · Other assets
beginning of year $498,501 · end of year $598,801
-
17 · Accounts payable and accrued expenses
beginning of year $114,493 · end of year $110,898
-
25 · Other liabilities
beginning of year $518,778 · end of year $609,078
-
27 · Net assets without donor restrictions
beginning of year $369,762 · end of year $457,062
Mission and programs · 2023
Mission
TO COORDINATE A STATEWIDE COLLABORATIVE OF COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATIONS THAT FACILITATE THE ASSET DEVELOPMENT OF LOW-INCOME FAMILIES, THROUGH INCREASED FINANCIAL MANAGEMENT SKILLS, COMMUNITY AND PEER SUPPORT, AND ACCESS TO WEALTH BUILDING VEHICLES.
Activities or mission (Part I)
THE MIDAS COLLABORATIVE WORKS TO ADVANCE THE FINANCIAL SECURITY OF LOW- AND MODERATE-INCOME RESIDENTS ACROSS MASSACHUSETTS IN COLLABORATION WITH ITS MEMBER ORGANIZATIONS AND PARTNERS.
-
BUILDING SAVINGS AND INVESTMENT: MIDAS OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY ORGANIZATIONS ACROSS MASSACHUSETTS. 8 PARTNER SITES ENROLLED 567 PARTICIPANTS WHO ATTENDED WORKSHOPS AND COUNSELING SESSIONS TO BUILD THEIR FINANCIAL SKILLS AND CAPABILITIES. 224 MATCH SAVINGS PROGRAM PARTICIPANTS GRADUATED IN 2023, MAKING INVESTMENTS IN HOMES, HIGHER EDUCATION PROGRAMS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, TEXTBOOKS, AND EMERGENCY SAVINGS FUNDS.
Expenses $316,368 · Revenue $94,865
-
MIDAS PROVIDED COMPREHENSIVE TRAINING TO STAFF FROM MEMBER COMMUNITY ORGANIZATIONS STATEWIDE, WHO SERVE LOW- AND MODERATE-INCOME RESIDENTS. ADDITIONALLY, TRAININGS WERE CONDUCTED FOR MEMBERS OF THE PUBLIC, EDUCATORS, AND POLICYMAKERS AT THE ANNUAL FINANCIAL EDUCATION SUMMIT, COVERING TOPICS SUCH AS ASSET BUILDING, FINANCIAL CAPABILITY, AND FINANCIAL HEALTH AND WELLNESS. MIDAS ALSO ACTIVELY PARTICIPATED IN POLICY COALITIONS AND ENGAGED IN STATE-LEVEL DISCUSSIONS FOCUSED ON FINANCIAL LITERACY, EDUCATION, AND ASSET BUILDING, WITH THE GOAL OF ADVANCING POLICIES THAT ADDRESS INCOME INEQUALITY AND PROMOTE ECONOMIC JUSTICE FOR LOW- AND MODERATE-INCOME COMMUNITIES.
Expenses $122,924
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
MOLLY GOODMAN
EXECUTIVE DI
- Total calculated
- $101,487
- From this org
- $94,021
- From related orgs
- $0
- Other
- $7,466
- Hours/week
- 40
-
JONA MARASHI
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
ANTHONINA FENELON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
NATASHA ELDRIDGE
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
SARA GARRITY-GENTILE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SANDEE SIMSHAUSER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CONNIE O'HARE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ALEX MELIKAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
LAURA MCLAUGHLIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAN MATLOFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ROBERT TORRES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
EMILIO DORCELY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MICHAEL ANDELMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
APRIL TATE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 18 September 2024
- IRS schema version
- 2023v5.0
- Source object
- 202442639349301224
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