2024-11-14T02:01:46-06:00 2023-12-31 221478099 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2023-01-01 043126706 MADISON PARK ECONOMIC DEVELOPMENT CORP MADI 6175413900 184 DUDLEY STREET ROXBURY MA 02119 AMANDA PELCHER INTERIM CFO 6175413900 2024-11-13 1 1 X LORI ROTHE YOKOBOSKY CPA P01273422 6176481400 2024-11-13 2023 2024-10-15 13:58:12Z INGRID TUCKER 184 DUDLEY STREET ROXBURY MA 02119 1264621 0 X N/A X 1991 MA TO PROVIDE SUPPORT FOR ECONOMIC REVITALIZATION IN THE ROXBURY, MASSACHUSETTS AREA. 11 11 0 11 0 0 148140 138794 1183206 1125346 422 481 132387 0 1464155 1264621 1896 2208 0 0 0 0 0 0 0 1597060 1552747 1598956 1554955 -134801 -290334 4796223 3915880 5083494 4225064 -287271 -309184 TO PROVIDE SUPPORT FOR ECONOMIC REVITALIZATION IN THE ROXBURY, MASSACHUSETTS AREA. 0 0 1544548 2208 1125346 OWNS AND OPERATES DEWITT CENTER. 1544548 1 1 0 0 0 0 0 0 1 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X AMANDA PELCHER 6175413900 184 DUDLEY STREET ROXBURY MA 02119 AYANNA HINES DIRECTOR 1.00 3.00 X 0 0 0 CHANDA K SMART DIRECTOR 1.00 3.00 X 0 0 0 DEAYNE WATTS DIRECTOR 1.00 3.00 X 0 0 0 GLORIA E BROOKS VICE PRESIDENT 1.00 3.00 X X 0 0 0 IVELISE RIVERA TREASURER 1.00 3.00 X X 0 0 0 LISA MORISHANTI DIRECTOR 1.00 3.00 X 0 0 0 MALIK AZIZ PRESIDENT 1.00 3.00 X 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 SONRISA HAYNES DIRECTOR 1.00 3.00 X 0 0 0 VICTORIA LYNN AWKWARD DIRECTOR 1.00 3.00 X 0 0 0 EVELYN BARNES CHIEF FINANCIAL OFFICER 40.00 3.00 X 0 153531 16338 INTIYA AMBROGI-ISAZA VICE PRESIDENT REAL ESTATE 40.00 3.00 X 0 161916 27332 LESLIE A REID CHIEF EXECUTIVE OFFICER 40.00 3.00 X 0 191975 27318 0 507422 70988 0 0 1 0 0 101964 36830 138794 RENTAL INCOME 531110 704575 704575 PROGRAM FEES 531390 420771 420771 1125346 481 481 1264621 1125346 0 481 2208 2208 408289 408289 220 220 10407 10407 48180 48180 37153 37153 14830 14830 419508 419508 94166 94166 188409 188409 75112 75112 OPERATING EXPENSES 219400 219400 MAINTENANCE EXPENSE 25350 25350 PROGRAM SUPPLIES 8214 8214 CITC 1695 1695 1814 1814 1554955 1544548 10407 0 439535 147028 3964 79394 5187071 1512990 4342183 3674081 10541 15377 4796223 3915880 593178 679375 19800 75 2542887 2527603 1927629 1018011 5083494 4225064 X -287271 -309184 -287271 -309184 4796223 3915880 X -290334 268421 X 0 1 X 1 0 X 184152 148140 138794 471086 777769 770112 1169714 1183206 1307148 5207949 777769 770112 1353866 1331346 1445942 5679035 0 0 0 5679035 41 34 7 422 481 985 41 34 7 422 481 985 24184 132387 156571 777810 770146 1378057 1464155 1446423 5836591 0.97300 0.96930 0.00020 0.00010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2021 AMOUNT: $ 24,184. 2022 AMOUNT: $ 132,387. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 275177 275177 4483922 1208777 3275145 418813 297545 121268 9159 6668 2491 3674081 OTHER LIABILITIES 26414 DUE TO AFFILATES 991597 1018011 X PART IV, LINE 2B: THE ORGANIZATION MAINTAINS SECURITY DEPOSITS AS REQUIRED BY STATE LAW. 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, 2023 AND 2022, 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 ("IRS") OR COMMONWEALTH OF MASSACHUSETTS ADDRESSING ANY SUBSEQUENT YEAR. 0 0 0 0 0 0 0 0 0 LESLIE A REID CHIEF EXECUTIVE OFFICER 0 188675 0 3300 0 0 0 1587 0 25731 0 219293 0 0 INTIYA AMBROGI-ISAZA VICE PRESIDENT REAL ESTATE 0 151916 0 10000 0 0 0 6458 0 20874 0 189248 0 0 EVELYN BARNES CHIEF FINANCIAL OFFICER 0 143531 0 10000 0 0 0 6054 0 10284 0 169869 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 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 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 XI, LINE 9: CHANGES RELATED TO DISREGARDED ENTITIES 268,421. 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