Overview
What is Madison Park Economic Development Corp?
Madison Park Economic Development Corp is a nonprofit organization situated in the Roxbury, Massachusetts area. Its primary mission is to foster economic growth and revitalization within this community. A notable aspect of their work is the ownership and management of the DeWitt Center. Their purpose is to provide support for the area's economic development, aiming to enhance the local economy and improve the living conditions of the community.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79% (Three-Star out of Four Star rating)
Madison Park Economic Development Corp has earned a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The organization has achieved an impressive score of 79% in this area, indicating strong management practices and transparency. This rating is based entirely on the Accountability & Finance beacon, showcasing the charity's commitment to responsible financial stewardship.
The organization demonstrates significant strengths, including a fully independent board comprised of eight members, which enhances governance and oversight. It also scored full points for its audit and oversight committee, indicating rigorous financial review practices. Additionally, the charity has implemented critical policies regarding conflict of interest, whistleblower protections, and document retention, further illustrating its commitment to accountability.
However, while the high program expense ratio of 99.50% suggests that the majority of funds are directed towards its programs, the overall score derived solely from the Accountability & Finance beacon may not provide a complete picture of the organization’s effectiveness in delivering its mission. Potential donors and stakeholders may want to consider additional metrics before making decisions.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Park Economic Development Corp legitimate?
Madison Park Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Park Economic Development Corp 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 Economic Development Corp?
The Madison Park Economic Development Corp's mission is centered around providing support for economic revitalization. In simpler terms, this organization aims to foster economic growth and development in a particular area. Specifically, their focus is on revitalizing the economic landscape in Roxbury, Massachusetts. They accomplish this mission by offering necessary support and resources to stimulate economic activity and development. The corporation also manages the DeWitt Center as part of its efforts.
Who is the CEO of Madison Park Economic Development Corp?
Leslie Reid is the Principal Officer of Madison Park Economic Development Corp. The CEO's salary of Madison Park Economic Development Corp is $0 and their total compensation is $253,281.
What is the revenue of Madison Park Economic Development Corp?
Madison Park Economic Development Corp's revenue in 2022 was $1,464,155.
Who are the executives of Madison Park Economic Development Corp and what are their salaries?
There 68 volunteers at Madison Park Economic Development Corp.
Here are 13 key members and their salaries (Madison Park Economic Development Corp's CEO's salary is $0 and their total compensation is $253,281):
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- Related: $69,032
- Other: $1,318
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- Related: $140,230
- Other: $20,915
- Compensation: $0
- Related: $222,999
- Other: $30,282
Where can I find the form 990 for Madison Park Economic Development Corp?
Madison Park Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madison Park Economic Development Corp
Madison Park Economic Development Corporation is dedicated to fostering economic growth and revitalization in a specific area, namely Roxbury, Massachusetts. This nonprofit organization's primary mission is to provide essential support for this revitalization process. Through its activities, it aims to contribute positively to the local economy, striving for continuous improvement and development. The organization accomplishes this by owning and operating the DeWitt Center, which may serve as a hub for various economic initiatives or activities.
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Impact
July, 2024
Madison Park Economic Development Corp's impact is centered around supporting economic revitalization in the Roxbury, Massachusetts area. Through initiatives such as owning and operating the DeWitt Center, they contribute to the growth and development of the local community. Their focus on economic revitalization helps create opportunities for residents, businesses, and organizations to thrive, ultimately leading to a more vibrant and sustainable community in Roxbury.
This information is meant to be a general summary of Madison Park Economic Development Corp. 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: $422
- Program Service Revenue: $1,183,206
- Gross Receipts: $1,464,155
Assets and Liabilities:
- Total Assets: $4,796,223
- Total Liabilities: $5,083,494
- Net Assets: -$287,271
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$775,153
PROGRAM FEES
Revenue
$408,053
Organization Details
Founding Year
1991
Phone
(617) 541-3900Principal Officer
Leslie Reid
Main Address
184 DUDLEY STREET, ROXBURY, MA, 02119
NTEE Category
Code: S41Z - Community improvement
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