Overview
What is Madeline Corporation?
Madeline Corporation, situated in Palisades Park, New Jersey, is a dedicated nonprofit organization with a mission to enhance the living conditions of low and moderate income families. They specialize in the development and management of rental properties, ensuring that these residences are of decent quality, safe, and affordable. With a modest workforce of three individuals, Madeline Corporation strives to make a significant impact in the community by providing a much-needed housing solution.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: Zero-Star out of Four Stars (27%)
Madeline Corporation has received a low rating of 27%, reflecting significant concerns regarding its accountability and financial management. While the organization boasts a fully independent board, which is commendable, it fell short in several critical areas such as financial transparency and policy implementation. The lack of published financial statements and missing essential governance policies raises red flags about its operational integrity.
Despite having a low program expense ratio of 37.92%, suggesting that a substantial portion of its funds may not be directed towards its mission-driven activities, the organization reported no material diversion of assets. This indicates some level of fiscal responsibility; however, the overall lack of transparency and supporting documentation undermines trust in the nonprofit's financial health and efficacy.
In summary, while Madeline Corporation has strengths in board independence, significant weaknesses in financial accountability and policy adherence must be addressed. Prospective donors and supporters should exercise caution and seek further information to better understand the organization's operations and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Madeline Corporation legitimate?
Madeline Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madeline 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: $58,441
Professional Fundraising Fees: $0
Other Salaries and Wages: $39,000
For more financial information, click here
What is the mission statement of Madeline Corporation?
Madeline Corporation's mission is centered around enhancing the residential living standards of families with moderate to low income. They strive to achieve this by providing them with decent, safe, and affordable housing. This is carried out through the development and management of rental properties specifically designed for this income bracket. The organization's primary goal is to improve the quality of life for these families, focusing on their housing needs.
Who is the CEO of Madeline Corporation?
Madeline Depalma is the President of Madeline Corporation.
What is the revenue of Madeline Corporation?
Madeline Corporation's revenue in 2022 was $2,807,333.
Who are the executives of Madeline Corporation and what are their salaries?
The average compensation at Madeline Corporation during 2022 was $32,480. There are 3 employees at Madeline Corporation.
Here are 5 key members and their salaries:
- Compensation: $58,441
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Madeline Corporation?
Madeline Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madeline Corporation
Madeline Corporation, a nonprofit organization, is committed to enhancing the residential living standards of families with modest incomes. Their mission is centered around providing decent, safe, and affordable housing solutions for these families. By developing and managing rental properties, Madeline Corporation strives to make a significant impact on the quality of life for these families, ensuring they have a secure and affordable place to call home.
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Impact
October, 2024
Madeline Corporation significantly enhances the quality of residential life for low and moderate-income families by delivering decent, safe, and affordable housing. With a dedicated focus on developing and managing rental properties in Palisades Park, NJ, it addresses a critical need in the community. By ensuring that families have access to quality housing, Madeline Corporation not only helps to stabilize their living conditions but also fosters a sense of community and belonging. This impactful work contributes to improving overall wellbeing and economic stability for families in the area, allowing them to thrive in a supportive environment.
This information is meant to be a general summary of Madeline 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.
- Program Service Revenue: $192,693
- Gross Receipts: $2,807,333
Assets and Liabilities:
- Total Assets: $27,055,443
- Total Liabilities: $594,254
- Net Assets: $26,461,189
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$192,693
Organization Details
Founding Year
1996
Phone
(201) 944-3222Principal Officer
Madeline Depalma
Main Address
555 10TH STREET, PALISADES PARK, NJ, 07650
NTEE Category
Code: L20 - Housing
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