2020-10-12T10:36:07-05:00 2019-12-31 221478099 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2019-01-01 043126706 MADISON PARK ECONOMIC DEVELOPMENT CORP MADI 6175413900 184 DUDLEY STREET ROXBURY MA 02119 KEVIN J REILLY CFO 6175413900 2020-10-09 1 LORI ROTHE YOKOBOSKY CPA P01273422 6176481400 2020-09-22 209.59.242.36 2020-10-09 16:48:31 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3A16AF227DFFBEB6A54D665AEE301AB9EC7A606C 2019 2021-01-29 14:40:06Z JEANNE PINADO 184 DUDLEY STREET ROXBURY MA 02119 777810 0 X N/A X 1991 MA TO PROVIDE SUPPORT FOR ECONOMIC REVITALIZATION IN THE ROXBURY, MASSACHUSETTS AREA. 12 12 0 0 0 0 0 0 726325 777769 -242469 41 0 0 483856 777810 0 0 0 0 0 0 0 0 0 857030 896537 857030 896537 -373174 -118727 4200306 4245212 3802952 3966585 397354 278627 TO PROVIDE SUPPORT FOR ECONOMIC REVITALIZATION IN THE ROXBURY, MASSACHUSETTS AREA. 0 0 896537 777769 TO PROVIDE TECHNOLOGY-BASED EDUCATION AND TRAINING TO ENHANCE THEPROFESSIONAL, INTELLECTUAL AND SOCIAL CAPABILITIES OF THOSE ITSERVES. HIBERNIAN HALL IS RENTED TO AN AFFILIATE NON-PROFIT ENTITY TOPROMOTE ECONOMIC REVILTALIZATION AND ALLOW THE AFFILIATE TOPROMOTE, PRODUCE AND PRESENT PERFORMING ARTS PROGRAMS THATCELEBRATE THE MULTI-CULTURAL HERITAGE OF ROXBURY. 896537 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X JEANNE PINADO 6178496220 184 DUDLEY STREET ROXBURY MA 02119 AYANNA HINES DIRECTOR 1.00 3.00 X 0 0 0 ELMER FREEMAN DIRECTOR 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 DIRECTOR 1.00 3.00 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 TREASURER 1.00 3.00 X X 0 0 0 SONRISA HAYNES DIRECTOR 1.00 3.00 X 0 0 0 JEANNE M PINADO CEO/ASST TREASURER 1.00 42.00 X 0 221169 15545 KEVIN J REILLY CFO 1.00 42.00 X 0 169246 24542 0 390415 40087 0 0 1 0 0 RENTAL INCOME 531110 777769 777769 777769 41 41 777810 777769 0 41 69197 69197 2215 2215 3219 3219 23590 23590 2858 2858 298973 298973 103333 103333 178800 178800 17761 17761 OPERATING EXPENSES 191301 191301 MAINTENANCE EXPENSE 5290 5290 896537 896537 0 0 342484 322468 23116 13578 4656779 759903 3823437 3896876 11269 12290 4200306 4245212 61490 33424 2831427 3013980 910035 919181 3802952 3966585 X 397354 278627 397354 278627 4200306 4245212 -118727 0 X X 0 1 X 1 0 X 51025 51025 733198 794441 753439 726325 777769 3785172 733198 845466 753439 726325 777769 3836197 0 0 0 3836197 16 24 35 41 41 157 16 24 35 41 41 157 733214 845490 753474 726366 777810 3836354 1.00000 0.99990 0.00000 0.00010 X 275177 275177 3430467 596166 2834301 788402 105581 682821 162733 58156 104577 3896876 OTHER LIABILITIES 26414 DUE TO AFFILATES 863779 SECURITY DEPOSITS 28988 919181 X PART X, LINE 2: MPDC AND CERTAIN SUBSIDIARIES, NAMELY; MADISON PARK ECONOMIC DEVELOPMENT CORPORATION, MADISON PARK HOUSING CORPORATION AND LOWER ROXBURY COMMUNITY CORPORATION ("LRCC") QUALIFY AS ORGANIZATIONS FORMED FOR CHARITABLE PURPOSES UNDER SECTION 501(C)(3) OF THE IRC AND THEREFORE ARE NOT SUBJECT TO INCOME TAX AND ARE NOT PRIVATE FOUNDATIONS 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, 2019 AND 2018, THERE WAS NO UNRELATED BUSINESS INCOME. TADDITIONAL SUBSIDIARIES OR AFFILIATES OF MPDC, NAMELY, BERYL GARDENS, INC., BERYL GARDENS COOPERATIVE CORPORATION, DUDLEY GREENVILLE MM LLC, MPIII TOWNHOMES MM LLC, MADISON PARK IV GP LLC, MADISON RUGGLES SHAWMUT, INC., MADISON WILLIAMS MM LLC, HAYNES II, INC., SMITH SENIOR RESIDENCES MM LLC, MADISON HAYNES MM LLC, AND MADISON MELNEA CASS MM LLC, ARE C CORPORATIONS OR LLCS THAT HAVE ELECTED TO BE TAXED AS A CORPORATION THAT ARE SUBJECT TO TAXATION AT THE FEDERAL AND STATE LEVELS. DEFERRED TAXES ARE COMPUTED BASED ON THE DIFFERENCE BETWEEN THE CONSOLIDATED FINANCIAL STATEMENTS AND INCOME TAX BASES OF ASSETS AND LIABILITIES USING ENACTED MARGINAL TAX RATES. AS OF DECEMBER 31, 2019 AND 2018, THE TAX EXPENSE, DEFERRED TAXES AND VALUATION ALLOWANCES WERE IMMATERIAL. BERYL GARDENS LIMITED PARTNERSHIP, HAYNES HOUSE ASSOCIATES II LIMITED PARTNERSHIP, MPIV 2011 LIMITED PARTNERSHIP, AND MBII LP, ARE PARTNERSHIPS AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO THE PARTNERS. DUDLEY GREENVILLE LLC, MADISON WILLIAMS LLC, MPIII TOWNHOMES LLC, SMITH SENIOR RESIDENCES LLC, RUGGLES SHAWMUT HOUSING LLC, MADISON MELNEA CASS LLC AND MADISON HAYNES LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO THE MEMBERS. MADISON BARD LLC, MADISON SCHOOL HOUSE LLC, MADISON TROPICAL LLC, MADISON TROPICAL MARKET LLC, MADISON GATEWAY LLC, P10 DEVELOPMENT SERVICES LLC AND 2451 WASHINGTON LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO MPDC AS THE SOLE MEMBER. MADISON WASHINGTON II LLC AND LRCC MAINTENANCE LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO LOWER ROXBURY COMMUNITY CORPORATION AS THE SOLE MEMBER. MADISON HIBERNIAN HALL LLC, LRCC LEASING LLC, LRCC HOLDINGS LLC AND DEWITT COMMUNITY CENTER LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO MADISON PARK ECONOMIC DEVELOPMENT CORPORATION AS THE SOLE MEMBER. NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS FOR ANY OF THESE ENTITIES SINCE THE LIMITED LIABILITY COMPANIES' NET TAXABLE PROFIT OR LOSS IS PASSED THROUGH TO THE INDIVIDUAL MEMBERS AND THE PARTNERSHIPS' INCOME OR THE LOSS IS PASSED THROUGH TO ITS PARTNERS. 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. 0 0 0 0 0 0 0 0 0 JEANNE M PINADO CEO/ASST TREASURER 0 221169 0 0 0 0 0 0 0 15545 0 236714 0 0 KEVIN J REILLY CFO 0 169246 0 0 0 0 0 0 0 24542 0 193788 0 0 PART I, LINE 3 MADISON PARK ECONOMIC DEVELOPMENT CORPORATION HAS NO EMPLOYEES. ALL COMPENSATION IS PROVIDED TO EMPLOYEES OF ITS SOLE MEMBER, MADISON PARK DEVELOPMENT CORPORATION. PLEASE REFER TO MPDC'S FORM 990 FOR COMPENSATION INFORMATION AND DECISION MAKING. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO ITS MANAGEMENT AGENT MADISON PARK DEVELOPMENT CORPORATION. FORM 990, PART VI, SECTION A, LINE 6 MADISON PARK DEVELOPMENT CORPORATION IS THE SOLE MEMBER OF MADISON PARK ECONOMIC DEVELOPMENT CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A MADISON PARK DEVELOPMENT CORPORATION, AS SOLE MEMBER OF MADISON PARK ECONOMIC DEVELOPMENT CORPORATION, HAS POWER TO ELECT THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED PRIOR TO ISSUANCE BY THE FINANCE COMMITTEE WHO THEN MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS TO APPROVE FOR 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 THE ORGANIZATION 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 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 XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AS WELL AS THE SELECTION OF THE INDEPENDENT ACCOUNTANT MADISON HIBERIAN HALL LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 RENTAL REAL ESTATE MA 58953 514371 MPEDC LRCC LEASING LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 RENTAL REAL ESTATE MA 56596 -83964 MPEDC LRCC HOLDINGS LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 RENTAL REAL ESTATE MA 0 0 MPEDC MADISON PARK DEVELOPMENT CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237164223 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 N/A 0 MADISON PARK HOUSING CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042743779 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 MPDC 0 LOWER ROXBURY COMMUNITY CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 MPDC 0 ORCHARD GARDENS RESIDENT ASSOCIATION INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042867846 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 MPDC 0 ADAMS ORCHARD LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428515 RENTAL REAL ESTATE MA N/A BERYL GARDENS LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293229 RENTAL REAL ESTATE MA N/A DUDLEY GREENVILLE LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 272754424 RENTAL REAL ESTATE MA N/A HAYNES HOUSE II LP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043231123 RENTAL REAL ESTATE MA N/A MADISON BOTOLPH II LP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 364796660 RENTAL REAL ESTATE MA N/A MADISON PARK IV 2011 LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 453459053 RENTAL REAL ESTATE MA N/A MADISON TRINITY LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043339768 RENTAL REAL ESTATE MA N/A MPIII TOWNHOMES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 473681685 RENTAL REAL ESTATE MA N/A RUGGLES SHAWMUT HOUSING LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 202182768 RENTAL REAL ESTATE MA N/A SMITH SENIOR RESIDENCES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 320494148 RENTAL REAL ESTATE MA N/A ADAMS ORCHARD INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428514 RENTAL REAL ESTATE MA N/A C 0 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 N/A C 0 HAYNES II INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043220498 RENTAL REAL ESTATE MA N/A C 0 LOWER ROXBURY MANAGEMENT CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042628306 RENTAL REAL ESTATE MA N/A C 0 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 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 N/A C 0 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 N/A C 0 SMITH II INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293223 RENTAL REAL ESTATE MA N/A C 0 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 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0