Overview
What is Madison Park Development Corporation?
Madison Park Development Corporation, based in Roxbury, Massachusetts, is a nonprofit organization dedicated to improving the lives of low-income and moderate-income residents in its community. Through its real estate program, the corporation acts as a developer or co-developer on properties, ensuring that these benefits low-income residents. Additionally, the organization manages rental properties for this demographic. The real estate program also encompasses the company's asset management business, which oversees the operations of all residential and commercial rental properties, as well as its early stage development activities. The overall mission of Madison Park Development Corporation is to foster the social, physical, economic, and cultural renaissance of the Roxbury community by promoting the economic self-sufficiency and social well-being of its residents, with a focus on home ownership, business development, or education. With a workforce of 46 individuals, the corporation is actively working towards achieving its goals.
Official website here: www.madison-park.org
Is Madison Park Development Corporation legitimate?
Madison Park Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Park Development 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: $468,552
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,474,680
For more financial information, click here
Official website here: www.madison-park.org
What is the mission statement of Madison Park Development Corporation?
Madison Park Development Corporation's mission is centered around fostering the social, physical, economic, and cultural revitalization of a community. Specifically, they focus on promoting the economic self-sufficiency and social well-being of low-income and moderate-income residents. This is achieved through their endeavors to facilitate homeownership, business development, and education. The corporation operates as a developer or co-developer on properties that benefit these residents, manages residential and commercial rental properties, and engages in early-stage development activities. Their ultimate goal is to improve the living conditions and opportunities for individuals in the community.
Official website here: www.madison-park.org
Who is the CEO of Madison Park Development Corporation?
Leslie Reid is the Principal Officer of Madison Park Development Corporation. The CEO's salary of Madison Park Development Corporation is $222,999 and their total compensation is $253,281.
Official website here: www.madison-park.org
What is the revenue of Madison Park Development Corporation?
Madison Park Development Corporation's revenue in 2022 was $4,984,841.
Official website here: www.madison-park.org
Who are the executives of Madison Park Development Corporation and what are their salaries?
The average compensation at Madison Park Development Corporation during 2022 was $63,983. There are 46 employees and 68 volunteers at Madison Park Development Corporation.
Here are 16 key members and their salaries (Madison Park Development Corporation's CEO's salary is $222,999 and their total compensation is $253,281):
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- Compensation: $140,230
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- Other: $20,915
- Compensation: $222,999
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- Other: $30,282
- Compensation: $164,418
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- Compensation: $103,816
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- Other: $10,876
- Compensation: $148,737
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- Other: $11,169
Official website here: www.madison-park.org
Where can I find the form 990 for Madison Park Development Corporation?
Madison Park Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madison-park.org
Learn more at the official website: www.madison-park.org
Mission Statement of Madison Park Development Corporation
Madison Park Development Corporation, abbreviated as MPDC, is dedicated to fostering the social, physical, economic, and cultural renaissance of its community. Specifically, its mission lies in promoting the economic self-sufficiency and social well-being of low-income and moderate-income residents in various aspects, including homeownership, business development, and education.
In pursuit of this mission, MPDC engages in real estate development projects, acting as either the developer or co-developer for properties that cater to the needs of low-income residents. The organization's real estate program also includes asset management, overseeing the operations of all residential and commercial rental properties, as well as its early-stage development activities. Furthermore, MPDC operates rental properties that benefit low-income residents, contributing to the overall improvement of their living conditions.
In summary, Madison Park Development Corporation is an entity committed to uplifting its community by empowering its low-income and moderate-income residents. Through its real estate initiatives and rental properties, MPDC aims to provide opportunities for economic self-sufficiency and improved living standards, ultimately contributing to the social and cultural renaissance of the community.
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Impact
October, 2024
Madison Park Development Corporation has a profound impact on the Roxbury community by enhancing the social, economic, and physical landscape for low-income and moderate-income residents. Through its real estate initiatives, it serves as a developer or co-developer for properties that provide vital housing opportunities and promote long-term stability for residents. By managing rental properties and overseeing residential and commercial assets, MPDC ensures that low-income individuals have access to safe and affordable housing options.
The organization goes beyond housing; it advocates for homeownership, business development, and education, fostering economic self-sufficiency that empowers community members. MPDC’s comprehensive approach not only meets immediate housing needs but also contributes to the community's broader cultural and economic renaissance, creating a more vibrant and equitable environment in Roxbury.
This information is meant to be a general summary of Madison Park Development 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: $1,474,831
- Program Service Revenue: $574,493
- Gross Receipts: $4,984,841
Assets and Liabilities:
- Total Assets: $40,057,422
- Total Liabilities: $24,364,019
- Net Assets: $15,693,403
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$489,942
PROGRAM FEES
Revenue
$48,066
RENTAL INCOME
Revenue
$36,485
Organization Details
Founding Year
1970
Phone
(617) 541-3900Principal Officer
Leslie Reid
Main Address
184 DUDLEY STREET, ROXBURY, MA, 02119
Website
www.madison-park.orgNTEE Category
Code: L110 - Housing
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