Madison Park Development Corporation

Analysis

Madison Park Development Corporation is a registered charity in United States, based in Roxbury, MA. It received its IRS tax-exemption ruling in January 1972, 54 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Madison Park Development Corporation reported income of $5.0m and spending of $8.0m, spending 158% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $11.0m to $5.0m (-54%), an average of -18% a year. The sharpest change came in the year to December 2022, when income dropped by 60%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Madison Park Development Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Liberty Affordable Housing Inc ($5.0m), Humble Homes Foster Family Agency Inc ($5.0m) and Almost Home Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $578k (7.3% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $36.7m against liabilities of $23.5m, net assets of $13.2m. It reported 51 employees.