2019-11-08T08:05:15-06:00 2018-12-31 043097400 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2018-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6715323916 2 OLIVER STREET NO 802 BOSTON MA 02109 KIMBERLY HIRSH EXECUTIVE DIRECTOR 6715323916 2019-10-31 1 JOLANTA TUCK CPA P01340068 7813803520 2019-10-31 70.91.219.129 2019-10-31 15:25:39 ED P D3B801030BFEB0406CB9160AD948ED3FDE4B8125 2ACDE7CC8E1A2FD168FC5B21471A3A4E7FA857D4 2018 2020-01-14 16:20:31Z X KIMBERLY HIRSH 2 OLIVER STREET NO 802 BOSTON MA 02109 236206 0 X MIDASCOLLAB.ORG X 2007 MA TO FACILITATE ASSET DEVELOPMENT AND PROTECTION OF LOW-INCOME FAMILIES IN A MANNER THAT IS PEER SUPPORTED, PRACTITIONER-TESTED, AND COMMUNITY-BUILDING. 7 7 12 0 0 0 233375 122074 163241 112822 0 0 -364 -362 396252 234534 0 0 0 0 358987 171389 0 0 9838 72092 62766 431079 234155 -34827 379 1610769 1356435 1479736 1225023 131033 131412 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 SUCH AS HOMES, BUSINESSES, AND EDUCATION. 0 1 90343 102299 BUILDING SAVINGS AND INVESTMENT: MIDAS OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY ORGANIZATIONS ACROSS MASSACHUSETTS. IN 2018, 155 PARTICIPANTS WERE ENROLLED AT 9 PARTNER SITES WHERE THEY ATTENDED WORKSHOPS AND COUNSELING SESSIONS TO BUILD THEIR FINANCIAL SKILLS AND CAPABILITY. 101 MATCHED SAVINGS PROGRAM PARTICIPANTS GRADUATED IN 2018, MAKING INVESTMENTS IN HOMES, HIGHER EDUCATION, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, TEXTBOOKS AND EMERGENCY SAVINGS FUNDS. 49583 3440 DELIVERING FINANCIAL EDUCATION AND TRAINING: MIDAS PROVIDED TRAININGS TO STAFF FROM MEMBER COMMUNITY ORGANIZATIONS ACROSS THE STATE THAT SERVE LOW AND MODERATE INCOME RESIDENTS, TO VOLUNTEERS AND MEMBERS OF THE PUBLIC WHO PARTICIPATE IN MIDAS' MASSSAVES INITIATIVE, AND TO EDUCATORS AND POLICYMAKERS AT OUR ANNUAL FINANCIAL EDUCATION SUMMIT. TRAINING TOPICS INCLUDED: CHILD SAVINGS ACCOUNTS; HISTORY OF REDLINING AND POSSIBLE SOLUTIONS; UNCONDITIONAL CASH TRANSFERS AND UNIVERSAL BASIC INCOME; PROMOTING FAIRNESS IN DEBT COLLECTION; THE HEALTH AND WELLNESS CONNECTION; AND THE FINANCES OF WOMEN.PERFORMING OUTREACH AND ADVOCACY TO ADDRESS INCOME INEQUALITY: MIDAS ENGAGED IN POLICY DISCUSSIONS AT THE STATE LEVEL ON TOPICS SUCH AS CONSUMER PROTECTION, FINANCIAL LITERACY AND EDUCATION, ASSET BUILDING, TAX CREDIT REFORM, AND COALITION BUILDING. MIDAS REPRESENTED MASSACHUSETTS IN THE NATIONAL CONVERSATION ON INCOME INEQUALITY, WEALTH BUILDING, AND FINANCIAL CAPABILITY. IN MASSACHUSETTS THE FOLLOWING INITIATIVES WERE SUCCESSFUL: INCREASE IN THE MINIMUM WAGE; INCREASE IN THE BUDGET ALLOCATION FOR FINANCIAL LITERACY IN K-12 SCHOOLS; AND COALITION BUILDING ON THE ISSUE OF DEBT COLLECTION AND PAYDAY LENDING ABUSES. 32967 7083 FINANCIAL COACHING: IN THE FIRST TWO MONTHS OF 2018, MIDAS WORKED WITH 17 COACHING CLIENTS, WHO EACH RECEIVED AN INITIAL INTAKE SESSION AND AN AVERAGE OF TWO FOLLOW UP COACHING SESSIONS WHERE THEY SET GOALS TOWARDS DEBT REDUCTION, CREATED A BUDGET AND PLANNED SAVINGS FOR BUILDING ASSETS. 172893 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 1 1 1 1 0 0 0 1 1 1 1 0 0 1 1 0 MA X X ALLSTON-BRIGHTON CDC 6175323916 2 OLIVER STREET SUITE 802 BOSTON MA 02109 ANGELA GOMES CHAIR 0.50 X X 0 0 0 BLAIR BENJAMIN DIRECTOR 0.50 X 0 0 0 JENNIFER LOWE CLERK 0.50 X X 0 0 0 KATHERINE ADAM DIRECTOR 0.50 X 0 0 0 BARBARA GREENBERG TREASURER 0.50 X X 0 0 0 TOM KEYDEL DIRECTOR 0.50 X 0 0 0 NELSON ORTIZ DIRECTOR 0.50 X 0 0 0 WILLIAM WEYDEMEYER DIRECTOR (UNTIL 05/18) 0.50 X 0 0 0 PAMELA HOFFMAN EXECUTIVE DIRECTOR (UNTIL 02/18) 26.00 X 7692 0 424 MARLISHIA AHO INTERIM EXEC DIR (02/18 - 06/18) 40.00 X 44055 0 3047 KIMBERLY HIRSH PRES AND EXEC DIR (AS OF 09/18) 20.00 X 12581 0 674 64328 0 4145 0 0 0 0 0 23415 16932 81727 122074 SERVICE FEES 611710 112822 112822 112822 1310 23415 1672 -362 -362 234534 112822 0 -362 X 68473 56576 8254 3643 82151 67951 9823 4377 5503 4469 747 287 15262 12570 1938 754 7675 7675 29753 12768 16985 5939 5081 710 148 15000 12810 1606 584 668 309 331 28 423 359 47 17 3308 3308 234155 172893 51424 9838 98639 146479 98054 51697 7005 6699 3340 2902 861 438 1406210 1151122 1610769 1356435 17920 9196 15625 24048 1446191 1191779 1479736 1225023 X 113533 115412 17500 16000 131033 131412 1610769 1356435 379 0 X 0 1 X 1 0 X 378670 534127 421337 233375 122074 1689583 378670 534127 421337 233375 122074 1689583 195081 1494502 712 712 1690295 586713 0.88420 0.86110 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2017 AMOUNT: $ 712. 4614 4614 229541 234155 46831 11708 0 0 111008 106604 86216 46831 350659 525989 8708 9249 12007 4614 34578 27752 26651 21554 11708 87665 131498 8708 9249 12007 4614 34578 3340 2902 438 438 FUNDS HELD FOR OTHERS 1151122 1151122 DUE TO FISCAL AGENT 40859 FUNDS HELD FOR OTHERS 1150920 1191779 234534 0 234534 0 234534 234155 0 234155 0 234155 ASSETS & OPPORTUNITY BREAKFAST 24725 23415 1310 1310 362 24725 23415 1310 1310 362 1672 -362 FORM 990, PART III, LINE 3 THE ORGANIZATION TERMINATED THE INDIVIDUAL FINANCIAL COACHING AND PLANNING PROGRAM IN FEBRUARY 2018. FORM 990, PART VI, SECTION A, LINE 3 FINANCIAL MANAGEMENT SERVICES AND PAYROLL AND BENEFIT PROCESSING PROVIDED BY ALLSTON BRIGHTON COMMUNITY DEVELOPMENT CORPORATION FOR A FEE. ALL EXPENSES REIMBURSED TO ALLSTON BRIGHTON COMMUNITY DEVLEOPMENT CORPORATION. FORM 990, PART VI, SECTION A, 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 FINANCIAL STABILITY OR SECURITY FOR, LOW OR MODERATE INCOME PERSONS. AFFILIATE MEMBERSHIP IS AVAILABLE ONLY TO PERSONS NOT EMPLOYED BY OR OTHERWISE REPRESENTING ANY FULL MEMBER. FORM 990, PART VI, SECTION A, LINE 7A FULL MEMBERS HAVE VOTING RIGHTS. DIRECTORS ARE ELECTED BY THE FULL MEMBERS AT THE ANNUAL MEETING OR AT A SPECIAL MEETING CALLED IN LIEU OF THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, 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, PART VI, SECTION A, LINE 8B NO COMMITTEE HAS DELEGATED AUTHORITY. COMMITTEES MAKE RECOMMENDATIONS TO THE BOARD AND THE BOARD TAKES ACTION. FORM 990, PART VI, SECTION B, LINE 11B IRS FORM 990 IS REVIEWED WITH THE PREPARER BY THE MANAGEMENT SERVICES PERSONNEL AND THEN CIRCULATED TO BOARD MEMBERS PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURE OF INTERESTS PROVIDED AS PART OF THE ANNUAL FINANCIAL STATEMENT AND TAX PREPARATION PROCESS. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS PROVIDED UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,000. PAYROLL SERVICE FEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,378. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,378. FINANCIAL SERVICES: PROGRAM SERVICE EXPENSES 4,667. MANAGEMENT AND GENERAL EXPENSES 9,333. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,000. IT CONSULTANTS: PROGRAM SERVICE EXPENSES 8,101. MANAGEMENT AND GENERAL EXPENSES 2,274. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,375.