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← MADISON PARK HOUSING CORPORATION

Form 990 for tax year 2022

Filed by MADISON PARK HOUSING CORPORATION.

Totals

Total revenue
$2,171,646
Total expenses
$140,345
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,503,211
Investment income
$663,221
Other revenue
$5,214
Total assets, end of year
$61,437,109
Total liabilities, end of year
$1,018,113
Net assets or fund balances, end of year
$60,418,996
Program services expenses (Part IX)
$137,603
Management and general expenses
$2,742
Fundraising expenses
$0
Program service expenses (Part III)
$137,603

Program services were 98.0% 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.

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

    total $1,503,211 · related or exempt $1,503,211

  • 3 · Investment income

    total $663,221 · excluded $663,221

  • 11d · All other revenue

    total $5,214 · related or exempt $5,214

  • 11e · Other revenue, total

    $5,214

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,742 · management and general $2,742

  • 11f · Fees: investment management

    total $29,168 · program services $29,168

  • 13 · Office expenses

    total $83,597 · program services $83,597

  • 24a · Other expenses: CORPORATE TAXES

    total $500 · program services $500

  • 24e · All other expenses

    total $24,338 · program services $24,338

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $195,582 · end of year $752,904

  • 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 $35,948,963 · end of year $35,491,223

  • 13 · Investments: program-related

    beginning of year $9,913,552 · end of year $8,153,638

  • 15 · Other assets

    beginning of year $10,442,174 · end of year $9,239,344

  • 23 · Secured mortgages and notes payable

    beginning of year $3,934,525 · end of year $1,018,113

  • 27 · Net assets without donor restrictions

    beginning of year $60,365,746 · end of year $60,418,996

Mission and programs · 2022

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 $137,603 · Revenue $1,508,425

As filed on the 2022 return.

Listed in Part VII

  • Ayanna Hines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Eric Hall

    OUTGOING 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

  • Karleen P Porcena

    OUTGOING DIRECTOR

    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

  • Evelyn Barnes

    CHIEF FINANCIAL OFFICER

    Total calculated
    $70,350
    From this org
    $0
    From related orgs
    $69,032
    Other
    $1,318
    Hours/week
    1 + 42 related

  • Intiya Ambrogi-Isaza

    VICE PRESIDENT REAL ESTATE

    Total calculated
    $161,145
    From this org
    $0
    From related orgs
    $140,230
    Other
    $20,915
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,430 related
    Bonus
    $0 + $8,800 related
    Other
    $0
    Deferred
    $0 + $635 related
    Nontaxable benefits
    $0 + $20,280 related
    Filer's total
    $0 + $161,145 related

  • Leslie A Reid

    CHIEF EXECUTIVE OFFICER/AS

    Total calculated
    $253,281
    From this org
    $0
    From related orgs
    $222,999
    Other
    $30,282
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $222,999 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $2,477 related
    Nontaxable benefits
    $0 + $27,805 related
    Filer's total
    $0 + $253,281 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.

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

  • BERYL GARDENS LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MA

  • DUDLEY GREENVILLE LLC

    RENTAL REAL ESTATE · MA

  • MADISON BOTOLPH II LP

    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

  • RUGGLES SHAWMUT HOUSING LLC

    RENTAL REAL ESTATE · MA

  • 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 DAVENPORT INC

    C · RENTAL REAL ESTATE · MA

  • MADISON PARK IV GP LLC

    C · RENTAL REAL ESTATE · MA

  • MADISON RUGGLES SHAWMUT INC

    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

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202343139349302904

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