Overview
What is Madison Park Housing Corporation?
Madison Park Housing Corporation, located in Roxbury, Massachusetts, is a dedicated nonprofit organization. Their primary mission revolves around supporting low-income housing by offering financial assistance to such projects. A significant contribution was recently received from a low-income housing project, further reinforcing their commitment. The organization's activities are geared towards uplifting the housing sector for those with limited financial resources.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
Madison Park Housing Corporation has received a Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance. The organization scored exceptionally well in various categories, such as having a fully independent board and a high program expense ratio, indicating that a significant portion of its funding goes directly to its programs rather than administrative costs.
The organization shows robust governance practices with effective policies in place, such as conflict of interest and whistleblower protections. The absence of any material diversion of assets further emphasizes its integrity and responsible stewardship of resources. The fiscal health is also commendable, with a low liabilities to assets ratio that suggests stability.
However, while the financial management and governance are exemplary, feedback from users or constituents may provide additional insights into the impact of the programs offered. Overall, Madison Park Housing Corporation demonstrates high standards in financial transparency and operational efficiency, making it a trustworthy choice for donors looking to support housing initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Park Housing Corporation legitimate?
Madison Park Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Park Housing Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Madison Park Housing Corporation?
Madison Park Housing Corporation is dedicated to supporting low-income housing. This mission is accomplished by providing financing to relevant projects, thereby contributing to the provision of adequate housing for individuals with limited financial means. The organization's primary objective is to make a positive impact on this specific segment of society by ensuring access to suitable housing options. The corporation's recent action of receiving a note receivable from a low-income housing project further underscores its commitment to this mission.
Who is the CEO of Madison Park Housing Corporation?
Leslie Reid is the Principal Officer of Madison Park Housing Corporation. The CEO's salary of Madison Park Housing Corporation is $0 and their total compensation is $253,281.
What is the revenue of Madison Park Housing Corporation?
Madison Park Housing Corporation's revenue in 2022 was $2,171,646.
Who are the executives of Madison Park Housing Corporation and what are their salaries?
There 68 volunteers at Madison Park Housing Corporation.
Here are 13 key members and their salaries (Madison Park Housing Corporation's CEO's salary is $0 and their total compensation is $253,281):
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- Related: $69,032
- Other: $1,318
- Compensation: $0
- Related: $140,230
- Other: $20,915
- Compensation: $0
- Related: $222,999
- Other: $30,282
Where can I find the form 990 for Madison Park Housing Corporation?
Madison Park Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madison Park Housing Corporation
Madison Park Housing Corporation is committed to supporting low-income housing. Their primary mission involves providing financing to projects that cater to this demographic, thereby contributing to the provision of affordable housing for individuals with limited resources. This nonprofit organization's activities are geared towards enhancing the living conditions of those in need, thereby promoting social equality and inclusion. The organization's contribution of a note receivable due from a low-income housing project underscores its dedication to this cause, highlighting its role as a catalyst for the development of affordable housing solutions.
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Impact
July, 2024
Madison Park Housing Corporation's impact lies in its dedicated efforts to provide support for low-income housing in Roxbury, Massachusetts. By receiving contributions such as notes receivable from low-income housing projects, the organization can offer financial assistance to projects that align with its mission of supporting affordable housing initiatives. Through its focus on low-income housing, Madison Park Housing Corporation plays a vital role in addressing housing needs within the community and improving access to safe and affordable shelter for residents in need.
This information is meant to be a general summary of Madison Park Housing Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $663,221
- Program Service Revenue: $1,503,211
- Gross Receipts: $2,171,646
Assets and Liabilities:
- Total Assets: $61,437,109
- Total Liabilities: $1,018,113
- Net Assets: $60,418,996
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON NOTES RECE
Revenue
$1,503,211
Organization Details
Founding Year
1980
Phone
(617) 849-6220Principal Officer
Leslie Reid
Main Address
184 DUDLEY STREET, ROXBURY, MA, 02119
NTEE Category
Code: L80Z - Housing
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