Madison Park Housing Corporation
- Assets
- $64.3m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Roxbury, MA
- Founding
- 12/1981
- Data as of
- 12/2021
- EIN
- 04-2743779
Organization Overview
Madison Park Housing Corporation is located in Roxbury, MA. The organization was established in 1981. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Park Housing Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Madison Park Housing Corporation generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $66.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY MISSION IS TO PROVIDE SUPPORT FOR LOW INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ivelise Rivera Vice President | OfficerTrustee | 1 | $0 |
Karleen P Porcena Treasurer | OfficerTrustee | 1 | $0 |
Nina Ruff Secretary | OfficerTrustee | 1 | $0 |
Lisa Morishanti President | OfficerTrustee | 1 | $0 |
Leslie A Reid Chief Executive Officer/assistant Clerk | Officer | 1 | $0 |
Ayanna Hines Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $437,151 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $437,151 |
| Total Program Service Revenue | $1,513,635 |
| Investment income | $567,669 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,518,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,508 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $32,834 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $66,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,582 |
| Savings and temporary cash investments | $7,800,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $35,948,963 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $9,913,552 |
| Intangible assets | $0 |
| Other assets | $10,442,174 |
| Total assets | $64,300,271 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,934,525 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,934,525 |
| Net assets without donor restrictions | $60,365,746 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $64,300,271 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Madison Park Housing Corporation has recieved totaling $13,724,874.
| Awarding Organization | Amount |
|---|---|
Lower Roxbury Community Corporation Roxbury, MA PURPOSE: Support Grant to MPHC | $8,119,985 |
Lower Roxbury Community Corporation Roxbury, MA PURPOSE: Support Grant to MPHC | $5,604,889 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Interstate I Affordable Housing Inc New York, NY | $783,725 | $8,991,908 |
Ascendant Neighborhood Development Corporation New York, NY | $39,528,943 | $4,446,577 |
Housing Works Services Inc Brooklyn, NY | $2,273,707 | $4,786,590 |
Willow Gardens Inc New Rochelle, NY | $20,661,774 | $5,354,577 |
United Residents In Academy Homes Ii Inc Roxbury, MA | $30,056,643 | $8,930,600 |
Pratt Area Community Council Inc Broooklyn, NY | $10,567,531 | $5,512,215 |
Homeowners Rehab Inc Cambridge, MA | $114,049,178 | $6,783,220 |
Neighborhood Housing Services Of New York City Inc New York City, NY | $17,546,984 | $4,808,509 |
Ccba Tai Tung Management Inc Boston, MA | $39,986,974 | $8,662,376 |
Housing And Services Inc New York, NY | $4,445,840 | $3,988,295 |
The Caleb Group Inc Swampscott, MA | $1,718,156 | $4,435,338 |
Utica Neighborhood Housing Service Inc Utica, NY | $4,904,112 | $3,447,727 |