2024-11-15T09:25:08-06:00 2023-12-31 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2023-01-01 223073668 METRO WEST COLLABORATIVE DEVELOPMENT INC METR 6179233505 79-B CHAPEL STREET NEWTON MA 02458 CAITLIN MADDEN EXECUTIVE DIRECTOR 6179233505 2024-11-14 1 1 JOLANTA TUCK CPA P01340068 7813803520 2024-11-12 2023 2024-10-15 13:58:12Z CAITLIN MADDEN 79-B CHAPEL STREET NEWTON MA 02458 1385698 0 X WWW.METROWESTCD.ORG X 1990 MA TO ORGANIZE RESIDENTS, MOBILIZE RESOURCES, AND IDENTIFY IDEAS THAT IMPROVE THE QUALITY OF LIFE FOR RESIDENTS OF METRO WEST COMMUNITIES. WE ACCOMPLISH THIS BY:1) CREATING AND PRESERVING AFFORDABLE HOMES2) SUPPORTING ECONOMIC DEVELOPMENT THAT STRENGTHENS NEIGHBORHOODS, TOWNS AND OTHER REGION3) BUILDING ALLIANCES WITH PARTNERS AND CONSTITUENCIES THROUGOUT THE REGION IN ORDER TO INCREASE AWARENESS AND BUILD SUPPORT FOR COMMUNITY DEVELOPMENT 12 12 14 12 0 0 348549 390762 1235666 922969 29049 50641 130614 21326 1743878 1385698 0 0 0 0 769471 963446 0 0 0 926272 897700 1695743 1861146 48135 -475448 17809934 35512317 15992556 34098017 1817378 1414300 TO PRESERVE AND PROMOTE AFFORDBALE HOUSING, SUPPORT ECONOMIC DEVELOPMENT AND BUILD SUPPORT FOR COMMUNITY DEVELOPMENT. 0 0 995655 759487 METRO WEST CD SEEKS TO ENGAGE RESIDENTS IN LOCAL PLANNING AND DECISION MAKING THAT EFFECTS THEIR NEIGHBORHOODS 527374 184808 IN 2023 METRO WEST CD CONTINUED CONSTRUCTION OF 44 AFFORDABLE HOUSING UNITS AND CLOSED ON FINANCING FOR 30+ ADDITIONAL UNITS OF AFFORDABLE HOUSING. 69380 METRO WEST CD PROVIDES REFERRALS TO HOUSEHOLDS IN SEARCH OF AFFORDABLE HOUSING. WE ALSO COORDINATE LOTTERIES AND TENANT/BUYER SELECTION ON BEHALF OF DEVELOPERS OF AFFORDABLE HOUSING THROUGHOUT MASSACHUSETTS. METRO WEST CD ALSO ADMINISTERS EMERGENCY RENTAL AND DIRECT FINANCIAL ASSISTANCE AND SINCE THE BEGINNING OF THE PANDEMIC HAS SUPPORTED OVER 500 HOUSEHOLDS ON BEHALF OF SEVERAL FOUNDATIONS AND SEVEN MUNICIPALITIES. 1592409 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 15 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X CAITLIN MADDEN 6179233505 79-B CHAPEL STREET NEWTON MA 02458 PAUL BOUTON PRESIDENT 1.00 0.30 X X 0 0 0 CRISTINA AYALA VICE PRESIDENT 1.00 0.30 X X 0 0 0 MICHAEL SHERMAN TREASURER 1.00 0.30 X X 0 0 0 ROBERT FLACK SECRETARY 1.00 0.30 X X 0 0 0 EUGENIA CHAPARRO DIRECTOR 1.00 0.30 X 0 0 0 MARY CORTHELL DIRECTOR 1.00 0.30 X 0 0 0 DORENA WONG-DELEON DIRECTOR 1.00 0.30 X 0 0 0 KALYANI DEVAJYOTI DIRECTOR 1.00 0.30 X 0 0 0 PAULA DICKERMAN DIRECTOR 1.00 0.30 X 0 0 0 THELMA TITUS DIRECTOR 1.00 0.30 X 0 0 0 MELINDA WALKER DIRECTOR 1.00 0.30 X 0 0 0 OLGA YASINNIK DIRECTOR 1.00 0.30 X 0 0 0 CAITLIN MADDEN EXECUTIVE DIRECTOR 39.00 1.00 X 143383 0 6298 SHARONE SMALL DIRECTOR OF REAL ESTATE 40.00 0.00 X 127249 0 3506 ALISA GARDNER-TODREAS CHIEF OPERATING OFFICER 40.00 0.00 X 103413 0 0 374045 0 9804 3 0 0 0 DELLBROOK JKS ONE ADAMS PLACE 859 WILLARD ST QUINCY MA 02169 GENERAL CONTRACTOR 25465513 DAVIS SQUARE ARCHITECTS INC 240 ELM ST SOMERVILLE MA 02144 ARCHITECTURAL SERVICES 1541242 MEANDER STUDIO INC 14 SPRING ST 2ND FLR WALTHAM MA 02451 ARCHITECTURAL SERVICES 395337 CLEARY ELEVATOR INC 35 COMMERCE RD HINGHAM MA 02043 ENGINEERING SERVICES 374697 LD RUSSO INC 198 AYER RD HARVARD MA 01451 GENERAL CONTRACTOR 365309 5 124578 266184 390762 RENTAL INCOME 531110 331460 331460 CONTRACTS 900099 218570 218570 DEVELOPER FEES 531110 184808 184808 COMMERCIAL INCOME 532000 118243 118243 PROGRAM FEES 900099 69888 69888 922969 50641 50641 RECOVERY OF BAD DEBT 900099 19661 19661 1665 1665 21326 1385698 944295 0 50641 143383 61192 82191 694975 677651 17324 44639 36474 8165 80449 65733 14716 22247 22247 2678 2678 125890 54310 71580 64351 28131 36220 6043 6043 34406 31160 3246 15598 5528 10070 447256 431091 16165 6515 6515 120675 114293 6382 PROVISION AGAINST NOTE 49774 49774 CIP AND OTHER DEV. WRIT 298 298 1969 1969 1861146 1592409 268737 0 338013 523535 1259590 1496255 19025 71544 165322 700000 16559 46735 53507 6361514 641614 5762407 5719900 5998 963283 9625647 26554931 17809934 35512317 2527283 4000603 103849 40422 8998 5581066 17996185 7780358 12051809 15992556 34098017 X 1793716 1391772 23662 22528 1817378 1414300 17809934 35512317 X -475448 72070 300 X 0 1 X 1 1 1 X 275586 454511 475584 348549 390762 1944992 286925 885757 1122515 1235666 922969 4453832 562511 1340268 1598099 1584215 1313731 6398824 7000 10000 3000 20000 0 7000 10000 3000 20000 6378824 1317 539 439 29049 50641 81985 1317 539 439 29049 50641 81985 130614 21326 151940 563828 1340807 1598538 1743878 1385698 6632749 0.96170 0.96780 0.01240 0.00450 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: PROCEEDS FROM TAX CREDIT SALE - 2022 AMOUNT: $ 2,460,000. RECOVERY OF PREVIOUSLY RESERVED FEES - 2022 AMOUNT: $ 159,314. PROVISION AGAINST NOTES RECEIVABLE AND RELATED INTEREST - 2022 AMOUNT: $ -2,488,700. RECOVERY OF BAD DEBT - 2023 AMOUNT: $ 19,661. OTHER INCOME - 2023 AMOUNT: $ 1,665. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 992300 992300 5064131 510893 4553238 305083 130721 174362 5719900 RESERVES 301133 PRE-DEVELOPMENT COSTS 26253798 26554931 REFUNDABLE GRANT 59300 CONTINGENT DEBT 8316919 CONDITIONAL GRANT ADVANCES 2329005 LEASE LIABILITY 1127068 LINE OF CREDIT 219517 12051809 X 3507570 2121872 2121872 1385698 0 1385698 4380499 2521018 2521018 1859481 1665 1665 1861146 PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS ON FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS. PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATES REMOVED FROM CONSOLIDATED TOTALS 2,120,207. EXPENSES RECLASSED FROM REVENUE 1,665. PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATES REMOVED FROM CONSOLIDATED TOTALS 2,521,018. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES RECLASSED FROM REVENUE 1,665. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS, ONCE APPROVED, THE FORM 990 IS SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH DISCUSSIONS HELD DURING BOARD MEETINGS. ALL BOARD OF DIRECTORS ARE REQUIRED TO SIGN AN ANNUAL STATEMENT OF CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A MWCD UTILIZED A SALARY SURVEY COMPILED BY A NATIONAL COMMUNITY DEVELOPMENT ORGANIZATION TO SUBSTANTIATE THE SALARY SCALE. THE BOARD OF DIRECTORS DISCUSS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND APPROVES ANY COMPENSATION CHANGES ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART XI, LINE 9: CAPITAL CONTRIBUTION - 62 PACKARD 300. 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