2022-11-11T14:56:12-06:00 2021-12-31 221478099 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2021-01-01 237164223 MADISON PARK DEVELOPMENT CORPORATION MADI 6175413900 184 DUDLEY STREET ROXBURY MA 02119 LESLIE REID EXECUTIVE DIRECTOR 6175413900 2022-11-11 1 LESLIE REID 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 6176481400 2022-11-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z LESLIE REID 184 DUDLEY STREET ROXBURY MA 02119 12337860 0 X WWW.MADISON-PARK.ORG X 1970 MA SELF-SUFFICIENCY AND SOCIAL WELL-BEING OF LOW-INCOME AND MODERATE-INCOME RESIDENTS AND ADVOCATING FOR HOMEOWNERSHIP, BUSINESS DEVELOPMENT OR EDUCATION. 10 10 45 50 2934970 2428711 2453728 2749219 2978439 1600037 1514518 1542883 2099403 6445721 9046088 12337860 430017 765560 0 0 3593095 3619686 0 0 13920 6505769 3476835 10528881 7862081 -1482793 4475779 51356053 47428714 36707620 28474105 14648433 18954609 X 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. 0 0 3433292 765560 3341824 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. 986341 1203426 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. 2982047 565556 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. 7401680 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 185 0 1 45 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 1 0 1 0 1 1 1 1 1 1 1 1 0 MA X LESLIE REID 6178496220 184 DUDLEY STREET ROXBURY MA 02119 AYANNA HINES DIRECTOR 1.00 3.00 X 0 0 0 ELMER FREEMAN OUTGOING DIRECTOR AS OF 10/21 1.00 3.00 X 0 0 0 ERIC HALL DIRECTOR 1.00 3.00 X 0 0 0 GLORIA E BROOKS DIRECTOR 1.00 3.00 X 0 0 0 IVELISE RIVERA VICE PRESIDENT 1.00 3.00 X X 0 0 0 KARLEEN P PORCENA TREASURER 1.00 3.00 X X 0 0 0 LISA MORISHANTI PRESIDENT 1.00 3.00 X X 0 0 0 MALIK AZIZ DIRECTOR 1.00 3.00 X 0 0 0 NINA RUFF SECRETARY 1.00 3.00 X X 0 0 0 ROBERT L TERRELL DIRECTOR 1.00 3.00 X 0 0 0 ROGER CARTER OUTGOING DIRECTOR AS OF 5/21 1.00 3.00 X 0 0 0 SONRISA HAYNES DIRECTOR 1.00 3.00 X 0 0 0 LESLIE A REID CHIEF EXECUTIVE OFFICER/ASSISTANT CLERK 40.00 3.00 X 250634 0 34473 VINCENT VIOLA DIRECTOR OF ASSET MANAGEMENT 40.00 3.00 X 144701 0 10657 395335 0 45130 2 0 1 0 AFRIKAI LLC 2136 WASHINGTON ST ROXBURY MA 02169 DEVELOP PUBLIC MURALS AND ART INSTALLATI 309305 CLIFTONLARSONALLEN LLP 220 S 6TH ST MINNEAPOLI MN 55401 ACCOUNTING AND HUMAN RESOURCE CONSULTING 277928 TBM CONSULTING LLC 2 BOYLSTON ST JAMAICA PLAIN MA 02169 STRATEGIC PLANNING CONSULTING 118250 KLEIN HORNIG LLP 101 ARCH ST BOSTON MA 02169 LEGAL SERVICES 101533 4 75000 871005 1803214 2749219 DEVELOPMENT FEES 531390 1317604 1317604 MANAGEMENT FEES 531310 243567 243567 PROGRAM FEES 531390 29275 29275 RENTAL INCOME 531390 9591 9591 1600037 1542883 1542883 TAXABLE DISTRIBUTIONS 900099 2934970 2934970 ASSET MANAGEMENT 900099 2140794 2140794 MISC INCOME 900099 1369957 1369957 6445721 12337860 5110788 2934970 1542883 765560 765560 285107 244885 19822 20400 2600392 2239486 174684 186222 63734 54896 3134 5704 670453 563512 60448 46493 91962 91206 289 467 90288 79516 4116 6656 9590 9590 417460 398319 7425 11716 29619 27813 690 1116 312855 299713 7999 5143 122319 104947 6638 10734 409505 374867 13236 21402 39086 20232 18854 67120 64095 2278 747 1061014 1061014 131114 124635 2504 3975 27123 24750 907 1466 FUNDRAISING EXPENSES 387130 357043 30087 HOMEOWNERSHIP EXPENSES 90958 90958 BAD DEBTS 63480 63480 DONATIONS 29459 29459 96753 321294 113867 -338408 7862081 7401680 446481 13920 1322572 1709860 8436060 3641532 25818767 27670633 1201679 657816 667038 543863 3466426 5459309 11645190 8403517 51356053 47428714 766060 661902 3800 3800 20820503 19277642 15117257 8530761 36707620 28474105 X 14537155 18864029 111278 90580 14648433 18954609 51356053 47428714 4475779 -151905 -17716 0 X X 0 1 X 1 0 X 1316660 1400282 2419571 2453728 2749219 10339460 3569679 4792849 6759146 2978439 1600037 19700150 4886339 6193131 9178717 5432167 4349256 30039610 0 0 0 30039610 1560338 1513685 1458958 1514518 1542883 7590382 1560338 1513685 1458958 1514518 1542883 7590382 2428711 2428711 247007 135147 260621 2099403 3510769 6252947 6693684 7841963 10898296 9046088 11831619 46311650 0.64860 0.77100 0.16390 0.14920 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2017 AMOUNT: $ 603. 2018 AMOUNT: $ 19,127. 2019 AMOUNT: $ 260,621. 2020 AMOUNT: $ 47,715. 2021 AMOUNT: $ 3,510,769. PARTNERSHIP DISTRIBUTION - 2017 AMOUNT: $ 246,404. 2018 AMOUNT: $ 116,020. FORGIVENESS INCOME - 2020 AMOUNT: $ 2,051,688. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 22219 22219 152554 86232 66322 880906 469384 411522 146000 102200 43800 543863 CONSTRUCTION IN PROGRESS 1325968 DUE FROM AFFILIATES 7048689 OTHER ASSETS 28860 8403517 DUE TO AFFILIATES 8275496 SECURITY DEPOSITS 37600 OTHER LIABILITIES 217665 8530761 X PART IV, LINE 2B: MPDC ENTERED AN AGREEMENT WITH ORCHARD GARDEN RESIDENTS ASSOCIATION (OGRA) WHEREBY MPDC WILL ACT AS A CUSTODIAL AGENT AND ADMINISTER THE FUNDS OF OGRA. AFFILIATES OF MPDC JOINTLY OWN THE ORCHARD GARDENS AFFORDABLE HOUSING COMPLEX. THE LIABILITY IS REDUCED AS CASH IS USED FOR ITS EXPRESSED PURPOSE OR INCREASED IF NEW DEPOSITS ARE RECEIVED ON BEHALF OF THE ORCHARD GARDEN RESIDENTS ASSOCIATION. PART X, LINE 2: MPDC QUALIFIES AS AND ORGANIZATION FORMED FOR CHARITABLE PURPOSES UNDER SECTION 501(C)(3) OF THE IRC AND THEREFORE IS NOT SUBJECT TO INCOME TAX AND IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). CERTAIN UNRELATED BUSINESS INCOME, AS DEFINED IN THE IRC, IS SUBJECT TO FEDERAL INCOME TAX. FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, THERE WAS NO UNRELATED BUSINESS INCOME. THE PROVISIONS OF GAAP REQUIRE THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED UPON A MORE LIKELY THAN NOT THRESHOLD. THIS APPLIES TO TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE TAX RETURNS OF ALL ENTITIES INCLUDED IN THE COMPANY'S CONSOLIDATED GROUP. THE COMPANY REGULARLY ASSESSES THE POTENTIAL SETTLEMENT OUTCOMES RESULTING FROM INCOME TAX EXAMINATIONS. THE IMPLEMENTATION OF THESE PROVISIONS HAS NO IMPACT ON THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS AS THE COMPANY BELIEVES THAT ITS CONSOLIDATED FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS. GENERALLY, THE ABOVE INFORMATION OR TAX RETURNS REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE FILING DATE. NO NOTICES HAVE BEEN RECEIVED FROM EITHER THE INTERNAL REVENUE SERVICE OR COMMONWEALTH OF MASSACHUSETTS ADDRESSING ANY SUBSEQUENT YEAR. 1 HOMEOWNERSHIP PROGRAM 4 350000 STIPENDS 218 365960 SCHOLARSHIP EXPENSE 25 49600 PART I, LINE 2: A SCHOLARSHIP COMMITTEE DECIDES WHO WILL BE AWARDED THE SCHOLARSHIP AND A CHECK IS CUT DIRECTLY TO THE UNIVERSITY TO BE APPLIED AGAINST THE STUDENT'S TUITION. X X X 0 0 0 0 0 0 0 1 0 LESLIE A REID CHIEF EXECUTIVE OFFICER/ASSISTANT CL 224384 0 26250 0 0 0 10219 0 24254 0 285107 0 0 0 VINCENT VIOLA DIRECTOR OF ASSET MANAGEMENT 135901 0 8800 0 0 0 5914 0 4743 0 155358 0 0 0 PART I, LINE 7 INCLUDED IN PART II, COLUMN B(II) ARE AMOUNTS REPRESENTING BONUS PAYMENTS. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUAL'S 2021 W-2, AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 3 DURING THE YEAR, THE ORGANIZATION ENGAGED THE SERVICES OF CLIFTONLARSONALLEN (CLA) TO FILL THE ROLL OF ITS TOP FINANCIAL EXECUTIVE AS THE ORGANIZATION SEARCHED FOR AN INDIVIDUAL TO PERMANENTLY FILL THIS ROLL. NONE OF THE INDIVIDUALS FROM CLA WHO FILLED THIS ROLL WERE KEY EMPLOYEES OF CLA, AS SUCH, THERE IS NO TOP FINANCIAL EXECUTIVE LISTED ON FORM 990, PART VII. FORM 990, PART VI, SECTION B, LINE 10B ALL OF THE ENTITIES THAT MPDC DOES BUSINESS WITH HAVE NO STAFF OF THEIR OWN AND ARE FULLY MANAGED BY MPDC WHO ENSURE THAT LOCAL UNITS' ACTIVITIES ARE CONSISTENT WITH ITS OWN AND THEIR TAX EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED PRIOR TO ISSUANCE BY THE FINANCE COMMITTEE AND THE FULL BOARD IS PROVIDED A COMPLETE COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: 1. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; 2. HAS READ AND UNDERSTOOD THIS POLICY; 3. HAS AGREED TO COMPLY WITH THE POLICY, AND 4. UNDERSTANDS THAT MPDC IS A NON-PROFIT AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPTED PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS EMPLOYED A CONSULTANT TO PERFORM A COMPENSATION STUDY IN 2021 TO DETERMINE THE APPROPRIATENESS OF THE CEO'S OVERALL COMPENSATION. THE CEO USES THE SERVICES OF A HUMAN RESOURCES CONSULTANT WHO PERIODICALLY CHECKS THE APPROPRIATENESS OF COMPENSATION LEVELS COMPANY WIDE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. 2451 WASHINGTON LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 203909215 RENTAL REAL ESTATE MA 15 348916 MPDC HAYNES HOUSE ASSOCIATES II 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 REAL ESTATE MA 0 25883 MPDC MADISON BARD LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 273060171 RENTAL REAL ESTATE MA 0 0 MPDC MADISON GATEWAY LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 463359675 RENTAL REAL ESTATE MA 0 1293716 MPDC MADISON SCHOOLHOUSE LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 261591413 RENTAL REAL ESTATE MA 0 0 MPDC MADISON TROPICAL LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 452804996 RENTAL REAL ESTATE MA 0 0 MPDC MADISON TROPICAL MARKETS LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 463342679 REAL ESTATE MA 0 0 MPDC P10 DEVELOPMENT SERVICES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 364748875 RENTAL REAL ESTATE MA 0 0 MPDC LOWER ROXBURY COMMUNITY CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 501(C)(3) LINE 11 MPDC 1 MADISON PARK ECONOMIC DEVELOPMENT CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043126706 RENTAL REAL ESTATE MA 501(C)(3) LINE 11 MPDC 1 MADISON PARK HOUSING CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042743779 RENTAL REAL ESTATE MA 501(C)(3) LINE 7 MPDC 1 ORCHARD GARDENS RESIDENT ASSOCIATION INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042867846 RENTAL REAL ESTATE MA 501(C)(3) LINE 11 MPDC 1 ADAMS ORCHARD LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428515 RENTAL REAL ESTATE MA N/A 0 0 BERYL GARDENS LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293229 RENTAL REAL ESTATE MA N/A 0 0 DUDLEY GREENVILLE LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 272754424 RENTAL REAL ESTATE MA N/A 0 0 MADISON BOTOLPH II LP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 364796660 RENTAL REAL ESTATE MA N/A 0 0 MADISON HAYNES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 831853112 RENTAL REAL ESTATE MA N/A 0 0 MADISON PARK IV 2011 LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 453459053 RENTAL REAL ESTATE MA N/A 0 0 MADISON TRINITY LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043339768 RENTAL REAL ESTATE MA N/A 0 0 MPIII TOWNHOMES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 473681685 RENTAL REAL ESTATE MA N/A 0 0 RUGGLES SHAWMUT HOUSING LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 202182768 RENTAL REAL ESTATE MA N/A 0 0 SMITH SENIOR RESIDENCES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 320494148 RENTAL REAL ESTATE MA N/A 0 0 ADAMS ORCHARD INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428514 RENTAL REAL ESTATE MA MPDC C 0.51000 1 BERYL GARDENS COOPERATIVE CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043296338 RENTAL REAL ESTATE MA N/A C 0 BERYL GARDENS INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293227 RENTAL REAL ESTATE MA N/A C 0 DUDLEY GREENVILLE MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 272754424 RENTAL REAL ESTATE MA MPDC C 20 64 1.00000 1 MADISON BOTOLPH GP INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 462310065 RENTAL REAL ESTATE MA N/A C 0 MADISON DAVENPORT INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428521 RENTAL REAL ESTATE MA MPDC C 17361 1.00000 1 MADISON HAYNES MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 831836890 RENTAL REAL ESTATE MA N/A C 0 MADISON PARK IV GP LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 453261293 RENTAL REAL ESTATE MA N/A C 0 MADISON RUGGLES SHAWMUT INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 651251191 RENTAL REAL ESTATE MA MPDC C 1644377 0.79000 1 MPIII TOWNHOMES MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 473661174 RENTAL REAL ESTATE MA N/A C 0 MTV INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043339765 RENTAL REAL ESTATE MA MPDC C 2 100 0.51000 1 SMITH SENIOR RESIDENCES MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 812393714 RENTAL REAL ESTATE MA N/A C 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 1 DEWITT CENTER D 1226244 FMV DUDLEY GREENVILLE D 76589 FMV SMITH SENIOR RESIDENCES MM LLC D 3144060 FMV SMITH SENIOR RESIDENCES MM LLC M 534733 FMV MELNEA CASS D 2661603 FMV