Madison Park Economic Development Corp

Overview

Mission

To provide support for economic revitalization in the roxbury, Massachusetts area.

What it reported doing in 2024

To develop and preserve safe, affordable, and low-income housing to combat community deterioration by providing or financing businesses and nonprofit organizations that would be unable to otherwise obtain financing. This promotes a general welcome of underserved communities, and assists in the elimination of structural racism and discrimination and supports madison park development corporation and its affiliates in the development of physical, economic, social and structural revitalization of the roxbury neighborhood of boston, Massachusetts.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
043126706
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Roxbury, MA, USA
Phone
6175413900
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.3%; rating input score 92
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.3; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 1.05; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 6.1%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 11.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 92.3% of revenue deployed · 99.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $289K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 25 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

15 people listed

Highest reported compensation

  • INGRID TUCKER (INTERIM CHIEF EXECUTIVE OFFICER): $288,931 total reported compensation
  • INITYA AMBROGI-ISAZA (VICE PRESIDENT OF REAL ESTATE): $226,590 total reported compensation
  • LESLIE REID (CHIEF EXECUTIVE OFFICER): $188,757 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.