Overview
What is Madison Street Properties Inc?
Madison Street Properties Inc is a Baltimore, Maryland-based organization serving as a property management and holding company for the tax-exempt affiliates of Kennedy Krieger Institute, Inc. Its primary mission is to support Kennedy Krieger Institute and its affiliates by managing and leasing their real property and leasehold rights. With a workforce of 94 employees, Madison Street Properties offers property management services such as security, housekeeping, and ancillary facilities management. The company's primary goal is to contribute to the charitable, scientific, and educational purposes of Kennedy Krieger Institute and its affiliates.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 64% (Two-Star out of Four Star rating)
Madison Street Properties Inc has received a Two-Star rating from Charity Navigator, which highlights some concerns regarding its accountability and financial practices. The organization scores particularly low on key governance indicators, such as having no independent board members and failing to provide certain financial documents on its website. Despite these shortcomings, the organization demonstrates strong financial oversight through its audit and conflict of interest policies.
On the positive side, Madison Street Properties shows a solid commitment to program expenses, with a program expense ratio that is rated highly. This indicates that a significant portion of their funds is directed toward their programs, which is a crucial aspect for nonprofits. Additionally, the organization has established effective policies for whistleblower protection and document retention, showing a level of commitment to ethical operations.
While the organization has strengths in program expense allocation and policies that promote accountability, the lack of an independent board and transparency regarding financial statements may raise concerns for potential donors and stakeholders. Overall, those considering engagement with Madison Street Properties should weigh these factors carefully.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Street Properties Inc legitimate?
Madison Street Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Street Properties Inc 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: $354,284
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,498,122
For more financial information, click here
What is the mission statement of Madison Street Properties Inc?
Madison Street Properties Inc serves as a property management and holding company for tax-exempt affiliates of Kennedy Krieger Institute. Operating solely for the charitable, scientific, and educational purposes of Kennedy Krieger Institute and its associates, this company manages all real property and leasehold rights of the affiliated corporations. Madison Street Properties leases and subleases property back to each corporate entity occupying space, while also offering property management services such as security, housekeeping, and ancillary facilities management. The company's mission is to support Kennedy Krieger Institute and its affiliates in their pursuit of their respective objectives.
Who is the CEO of Madison Street Properties Inc?
Brad L Schlaggar Md Phd is the Principal Officer of Madison Street Properties Inc. The CEO's salary of Madison Street Properties Inc is $101,409 and their total compensation is $925,374.
What is the revenue of Madison Street Properties Inc?
Madison Street Properties Inc's revenue in 2022 was $37,883,778.
Who are the executives of Madison Street Properties Inc and what are their salaries?
The average compensation at Madison Street Properties Inc during 2022 was $72,898. There are 94 employees and 1 volunteer at Madison Street Properties Inc.
Here are 12 key members and their salaries (Madison Street Properties Inc's CEO's salary is $101,409 and their total compensation is $925,374):
- Compensation: $101,409
- Related: $780,824
- Other: $43,141
- Compensation: $0
- Related: $83,267
- Other: $9,160
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $102,205
- Related: $786,947
- Other: $34,167
- Compensation: $53,573
- Related: $412,499
- Other: $33,566
- Compensation: $30,880
- Related: $237,770
- Other: $38,589
- Compensation: $43,441
- Related: $334,478
- Other: $48,666
- Compensation: $258,385
- Related: $0
- Other: $22,881
- Compensation: $163,150
- Related: $0
- Other: $17,189
- Compensation: $132,611
- Related: $0
- Other: $34,008
- Compensation: $134,672
- Related: $0
- Other: $16,458
- Compensation: $103,127
- Related: $0
- Other: $31,849
Where can I find the form 990 for Madison Street Properties Inc?
Madison Street Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madison Street Properties Inc
Madison Street Properties Inc, a charitable holding company, operates exclusively to further the objectives of Kennedy Krieger Institute and its affiliates. This organization is dedicated to managing and holding all real property and leasehold rights for these affiliated corporations. Madison Street Properties assumes the responsibility of leasing and subleasing property back to the corporate entities that occupy the space. In addition to property transactions, this company provides essential property management services, including security, housekeeping, and other ancillary facilities management services. This strategic partnership ensures the smooth functioning of the affiliated corporations, enabling them to focus primarily on their respective charitable, scientific, and educational missions.
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Impact
October, 2024
Madison Street Properties Inc plays a critical role in supporting the operational infrastructure of the Kennedy Krieger Institute and its affiliated organizations. By serving as a property management and holding company, it ensures that all real estate assets related to these tax-exempt affiliates are efficiently managed and optimized for their charitable, scientific, and educational purposes.
The organization owns and oversees the leasehold rights of the properties used by the institute, which enables it to provide essential services such as security, housekeeping, and facilities management. This strong focus on property management directly contributes to a stable and conducive environment for the various programs and services offered by the Kennedy Krieger Institute.
In essence, Madison Street Properties Inc not only supports the physical needs of its affiliates but also enhances the overall mission of improving community wellbeing through access to high-quality educational and therapeutic services. Its operations are foundational to the success of the initiatives aimed at benefiting individuals, particularly in their pursuit of rehabilitation and education.
This information is meant to be a general summary of Madison Street Properties Inc. 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: $37,565,157
- Gross Receipts: $37,883,778
Assets and Liabilities:
- Total Assets: $145,848,633
- Total Liabilities: $127,462,051
- Net Assets: $18,386,582
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY RENTAL
Revenue
$37,565,157
Organization Details
Founding Year
1995
Phone
(443) 923-9200Principal Officer
Brad L Schlaggar Md Phd
Main Address
707 N BROADWAY, BALTIMORE, MD, 21205
NTEE Category
Code: S500 - Community improvement
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