2024-09-19T15:42:30-04:00 2023-12-31 042929980 BURKHART PIZZANELLI PC 201 PARK AVE SUITE 2 WEST SPRINGFIELD MA 010891597 990 2023-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6175323916 2 OLIVER STREET 802 BOSTON MA 02109 ALEX MELIKAN DIRECTOR 6175323916 2024-09-18 true JULIE QUINK P01068729 4137349040 2024-09-18 2023 2024-08-08 14:25:15Z CAROLYN BRANDES 2 OLIVER STREET 802 BOSTON MA 02109 505606 false X WWW.MIDASCOLLAB.ORG X 2007 MA THE MIDAS COLLABORATIVE WORKS TO ADVANCE THE FINANCIAL SECURITY OF LOW- AND MODERATE-INCOME RESIDENTS ACROSS MASSACHUSETTS IN COLLABORATION WITH ITS MEMBER ORGANIZATIONS AND PARTNERS. 13 13 6 3 0 467695 373622 152653 94865 58 96 7118 9215 627524 477798 0 0 235057 328938 0 4916 214739 186560 449796 515498 177728 -37700 1003033 1177038 633271 719976 369762 457062 X TO COORDINATE A STATEWIDE COLLABORATIVE OF COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATIONS THAT FACILITATE THE ASSET DEVELOPMENT OF LOW-INCOME FAMILIES, THROUGH INCREASED FINANCIAL MANAGEMENT SKILLS, COMMUNITY AND PEER SUPPORT, AND ACCESS TO WEALTH BUILDING VEHICLES. false false 316368 94865 BUILDING SAVINGS AND INVESTMENT: MIDAS OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY ORGANIZATIONS ACROSS MASSACHUSETTS. 8 PARTNER SITES ENROLLED 567 PARTICIPANTS WHO ATTENDED WORKSHOPS AND COUNSELING SESSIONS TO BUILD THEIR FINANCIAL SKILLS AND CAPABILITIES. 224 MATCH SAVINGS PROGRAM PARTICIPANTS GRADUATED IN 2023, MAKING INVESTMENTS IN HOMES, HIGHER EDUCATION PROGRAMS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, TEXTBOOKS, AND EMERGENCY SAVINGS FUNDS. 122924 MIDAS PROVIDED COMPREHENSIVE TRAINING TO STAFF FROM MEMBER COMMUNITY ORGANIZATIONS STATEWIDE, WHO SERVE LOW- AND MODERATE-INCOME RESIDENTS. ADDITIONALLY, TRAININGS WERE CONDUCTED FOR MEMBERS OF THE PUBLIC, EDUCATORS, AND POLICYMAKERS AT THE ANNUAL FINANCIAL EDUCATION SUMMIT, COVERING TOPICS SUCH AS ASSET BUILDING, FINANCIAL CAPABILITY, AND FINANCIAL HEALTH AND WELLNESS. MIDAS ALSO ACTIVELY PARTICIPATED IN POLICY COALITIONS AND ENGAGED IN STATE-LEVEL DISCUSSIONS FOCUSED ON FINANCIAL LITERACY, EDUCATION, AND ASSET BUILDING, WITH THE GOAL OF ADVANCING POLICIES THAT ADDRESS INCOME INEQUALITY AND PROMOTE ECONOMIC JUSTICE FOR LOW- AND MODERATE-INCOME COMMUNITIES. 439292 true true false true false false false false false false true false false true true true true false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 6 0 6 true false false false false false false false false X 13 13 false false false false true true true true true false false true true true true true false true false false MA X X CAROLYN BRANDES 6175323916 2 OLIVER STREET BOSTON MA 02109 MOLLY GOODMAN EXECUTIVE DI 40.00 X 94021 0 7466 JONA MARASHI TREASURER 1.00 X 0 0 0 ANTHONINA FENELON SECRETARY 1.00 X 0 0 0 NATASHA ELDRIDGE CHAIR 1.00 X 0 0 0 SARA GARRITY-GENTILE DIRECTOR 1.00 X 0 0 0 SANDEE SIMSHAUSER DIRECTOR 1.00 X 0 0 0 CONNIE O'HARE DIRECTOR 1.00 X 0 0 0 ALEX MELIKAN DIRECTOR 1.00 X 0 0 0 LAURA MCLAUGHLIN DIRECTOR 1.00 X 0 0 0 DAN MATLOFF DIRECTOR 1.00 X 0 0 0 ROBERT TORRES DIRECTOR 1.00 X 0 0 0 EMILIO DORCELY DIRECTOR 1.00 X 0 0 0 MICHAEL ANDELMAN DIRECTOR 1.00 X 0 0 0 APRIL TATE DIRECTOR 1.00 X 0 0 0 94021 7466 false false false 67933 2250 250000 53439 373622 PROGRAM SERVICE FEES - MSP 611710 94865 94865 94865 96 96 37023 27808 9215 477798 94865 96 X 94021 79918 13163 940 185479 157657 25967 1855 21257 18068 2976 213 28181 23954 3945 282 29140 24769 4080 291 107104 91039 14994 1071 1642 1396 230 16 3802 3232 532 38 628 628 1020 867 143 10 2454 2454 MASSSAVES BOOST 18369 18369 PROGRAM EXPENSES 14580 12393 2041 146 MISCELLANEOUS 4020 3417 563 40 BAD DEBT EXPENSE 2358 2358 1443 1227 202 14 515498 439292 71290 4916 192488 205726 191021 126126 67700 190200 46509 49445 5540 6486 3059 2805 1274 254 498501 598801 1003033 1177038 114493 110898 518778 609078 633271 719976 X 369762 457062 369762 457062 1003033 1177038 X -37700 125000 X false true X true X 87963 117228 83050 467695 373622 1129558 87963 117228 83050 467695 373622 1129558 1129558 562 362 119 58 96 1197 1130755 307897 0.99890 0.99870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8277 8277 535029 543306 106496 26624 34918 43369 93207 106496 277990 416985 2820 3441 5052 8277 19590 8730 10842 23302 26624 69498 104247 3441 5052 8277 16770 3059 2805 254 254 FUNDS HELD FOR OTHERS 598801 598801 FUNDS HELD FOR OTHERS 598801 DUE TO FISCAL AGENT 10277 609078 X 505606 27808 27808 477798 477798 543306 27808 27808 515498 515498 SCHEDULE D, PAGE 3, PART X THE PROJECT IS A NOT-FOR-PROFIT CORPORATION INCORPORATED AS A 501(C)(3) ORGANIZATION AND IS CURRENTLY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS, INCLUDING THE PROJECT'S TAX EXEMPT STATUS, AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE PROJECT'S INFORMATIONAL RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER DECEMBER 31, 2020. SCHEDULE D, PAGE 4, PART XI, LINE 2D GALA FUNDRAISING EXPENSES 27,808 SCHEDULE D, PAGE 4, PART XII, LINE 2D GALA FUNDRAISING EXPENSES 27,808 MATCH GALA 37023 37023 27808 37023 37023 27808 27808 9215 FORM 990 - ORGANIZATION'S MISSION TO COORDINATE A STATEWIDE COLLABORATIVE OF COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATIONS THAT FACILITATE THE ASSET DEVELOPMENT OF LOW-INCOME FAMILIES, THROUGH INCREASED FINANCIAL MANAGEMENT SKILLS, COMMUNITY AND PEER SUPPORT, AND ACCESS TO WEALTH BUILDING VEHICLES. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS TWO CLASSES OF MEMBERSHIP: FULL MEMBERS AND AFFILIATE MEMBERS. ADMISSION AS A FULL OR AFFILIATE MEMBER REQUIRES NOMINATION BY EITHER AN EXISTING FULL MEMBER IN GOOD STANDING OR AN OFFICER OF THE ORGANIZATION AND AN AFFIRMATIVE VOTE OF THE BOARD OF DIRECTORS. FULL MEMBERSHIP IS AVAILABLE ONLY TO ORGANIZATIONS INVOLVED IN PROMOTING THE ACCUMULATION OF ASSETS BY, OR WORKING TO IMPROVE THE FINANCIAL STABILITY OR SECURITY FOR LOW OR MODERATE INCOME PERSONS. AFFILIATE MEMBERSHIP IS AVAILABLE ONLY TO PERSONS NOT EMPLOYED OR REPRESENTING ANY FULL MEMBER. FORM 990, PAGE 6, PART VI, LINE 7A NEW MEMBERS ARE ELECTED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B FULL MEMBERS HAVE VOTING RIGHTS. EACH FULL MEMBER IS ENTITLED TO CAST ONE VOTE ON ANY MATTER BROUGHT TO THE FULL MEMBERSHIP FOR VOTE. AFFILIATE MEMBERS DO NOT HAVE VOTING RIGHTS, BUT ARE ENTITLED TO NOTICE OF, TO BE PRESENT AND TO PARTICIPATE IN ALL MEETINGS OF FULL MEMBERS. ANY BYLAW ADOPTED BY THE DIRECTORS MAY BE AMENDED OR REPEALED BY THE AFFIRMATIVE VOTE OF THE FULL MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B IRS FORM 990 IS REVIEWED WITH THE PREPARER BY MANAGEMENT PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 12C ANNUAL DISCLOSURE OF INTERESTS PROVIDED AS PART OF THE ANNUAL FINANCIAL STATEMENT AND TAX PREPARATION PROCEESS. FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS PROVIDED UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS 28,146 6,567 469 CONSULTANTS 11,728 0 0 OTHER PROFESSIONAL SERVICES 36,116 8,427 602 OTHER PROFESSIONAL SERVICES 15,049 0 0 TOTAL 91,039 14,994 1,071 FORM 990, PART XI, LINE 9 GALA FUNDRAISING EXPENSES 27,808 GALA FUNDRAISING EXPENSES -27,808