2018-11-15T10:05:51-06:00 2017-12-31 043097400 KEVIN P MARTIN ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2017-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6177879804 18R SHEPARD STREET NO 100 BRIGHTON MA 02135 JENNIFER LOWE CLERK 6177879804 2018-11-13 1 JOLANTA TUCK CPA P01340068 7813803520 2018-11-13 70.91.219.129 2018-11-13 13:29:13 ES P 8D05ED1EDE51D072B0C6682B73A8EE37520AE7C3 F92087DBBC5D35C0DB250093360421A7D08E3B27 2017 2019-02-21 02:37:17Z X ANGELA GOMES 18R SHEPARD STREET NO 100 BRIGHTON MA 02135 399168 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. 8 8 11 0 0 0 421337 233375 126192 163241 0 0 -981 -364 546548 396252 0 0 0 0 360067 358987 0 0 31397 183962 72092 544029 431079 2519 -34827 1961820 1610769 1795960 1479736 165860 131033 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 0 90892 119053 BUILDING SAVINGS AND INVESTMENT: MIDAS OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY PARTNER ORGANIZATIONS ACROSS MASSACHUSETTS. IN 2017, 210 PARTICIPANTS WERE ENROLLED AS INVESTORS AT 15 MEMBER SITES WHERE THEY ATTENDED FINANCIAL AND ASSET TRAININGS TO BUILD THEIR FINANCIAL STRENGTH. 119 MATCHED SAVINGS PROGRAM PARTICIPANTS GRADUATED IN 2017, WITH INVESTMENTS IN HOMES, EDUCATIONS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, AND RAINY-DAY FUNDS. 163155 24792 INDIVIDUAL FINANCIAL COACHING AND PLANNING: MIDAS MATCHED 97 MASSACHUSETTS RESIDENTS WITH CERTIFIED, MULTILINGUAL FINANCIAL COACHES WHO MET THEM -- VIA PHONE AND VIRTUAL PLATFORMS -- FOR FREE "ONE-ON-ONE" COACHING SESSIONS, AVAILABLE WEEKDAYS, EVENINGS, AND WEEKENDS. WITH A GRANT FROM THE FOUNDATION FOR FINANCIAL PLANNING AND PRO-BONO ASSISTANCE FROM 15 MEMBERS OF THE FINANCIAL PLANNING ASSOCIATION OF MASSACHUSETTS (FPAMA), MIDAS MATCHED 28 PARTICIPANTS WHO COMPLETED A COACHING ENGAGEMENT TO MEET REMOTELY WITH A CERTIFIED FINANCIAL PLANNER FOR SUPPORT ON ISSUES SUCH AS INVESTING AND GROWING SAVINGS, PROTECTING ASSETS, OBTAINING INSURANCE, RETIREMENT AND/OR ESTATE PLANNING, SAVING FOR COLLEGE, AND MAXIMIZING TAX BENEFITS. 84104 19396 FINANCIAL EDUCATION AND TRAINING: MIDAS PROVIDED TRAININGS TO STAFF MEMBERS FROM MIDAS MEMBER ORGANIZATIONS ACROSS THE STATE THAT SERVE LOW AND MODERATE-INCOME RESIDENTS; MEMBERS OF THE MASSSAVES COALITION AND THE PUBLIC AT LARGE; EDUCATORS AND POLICYMAKERS AT OUR ANNUAL STATEWIDE FINANCIAL EDUCATION SUMMIT; DIRECT SERVICE ORGANIZATIONS ACROSS THE STATE; AND PROFESSIONAL DEVELOPMENT FOR STAFF. TRAINING TOPICS INCLUDED: FINANCIAL CAPABILITY TRAINING OF TRAINERS; THE CONSUMER FINANCIAL PROTECTION BUREAU'S FINANCIAL EMPOWERMENT TOOLKIT; YOUR MONEY, YOUR GOALS; AND FINANCIAL PLANNING AND ASSET-BUILDING. MIDAS STAFF ALSO PROVIDED ONE-ON-ONE TECHNICAL ASSISTANCE IN FINANCIAL EDUCATION TRAINING. AT THE STATE LEVEL, MIDAS ENGAGED IN POLICY DISCUSSIONS ON TOPICS SUCH AS MATCHED SAVINGS, CONSUMER PROTECTION, AND FINANCIAL EDUCATION, LEADING AND SUPPORTING COALITION WORK. 338151 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 1 0 1 11 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 1 0 1 1 1 1 0 0 0 1 1 1 1 0 0 1 1 0 MA X X ALLSTON-BRIGHTON CDC 6177873874 18R SHEPARD STREET SUITE 100 BRIGHTON MA 02135 ANGELA GOMES INTERIM BOARD CHAIR 0.50 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 WILLIAM WEYDEMEYER DIRECTOR 0.50 X 0 0 0 TOM KEYDEL DIRECTOR 0.50 X 0 0 0 NELSON ORTIZ DIRECTOR 0.50 X 0 0 0 PAMELA HOFFMAN EXECUTIVE DIRECTOR 26.00 X 63000 0 3581 63000 0 3581 0 0 0 0 0 31790 76745 124840 233375 SERVICE FEES 611710 163241 163241 163241 1840 31790 2916 -1076 -1076 712 712 712 396252 163953 0 -1076 68581 57297 5600 5684 242850 202767 19658 20425 20136 17012 1904 1220 27420 22958 2149 2313 6750 6750 37940 18685 19255 9299 6565 2330 404 12000 10560 720 720 1908 1352 310 246 944 584 360 421 371 25 25 2830 2830 431079 338151 61531 31397 97536 98639 53227 93832 98054 7984 7005 3340 2479 1282 861 1707959 1406210 1961820 1610769 28586 17920 19454 15625 1747920 1446191 1795960 1479736 X 139610 113533 26250 17500 165860 131033 1961820 1610769 -34827 0 X 0 1 X 1 0 X 288800 378670 534127 421337 233375 1856309 288800 378670 534127 421337 233375 1856309 243115 1613194 8266 2900 5163 712 17041 1873350 289433 0.86110 0.87930 X 12007 12007 419072 431079 86216 21554 0 0 85010 111008 106604 86216 388838 583257 7016 8708 9249 12007 36980 21253 27752 26651 21554 97210 145815 7016 8708 9249 12007 36980 3340 2479 861 861 FUNDS HELD FOR OTHERS 1406210 1406210 DUE TO FISCAL AGENT 40669 FUNDS HELD FOR OTHERS 1405522 1446191 396252 0 396252 0 396252 431079 0 431079 0 431079 ASSETS & OPPORTUNITY BREAKFAST 33630 31790 1840 1840 1076 33630 31790 1840 1840 1076 2916 -1076 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 4 IN 2017, THE MIDAS BYLAWS WERE AMENDED AND RESTATED TO, AMONG OTHER THINGS, UPDATE PROVISIONS RELATED TO THE MEMBERS, OFFICERS AND THE BOARD OF DIRECTORS OF THE ORGANIZATION TO REFLECT CURRENT OPERATIONS AND PRACTICES, INCLUDING WITH RESPECT TO THE COMPOSITION OF THE BOARD OF DIRECTORS, CLARIFYING THE STANDARDS FOR REMOVAL OF A MEMBER, MEETINGS OF MEMBERS AND DIRECTORS AND THE PROCESS FOR AMENDING THE BYLAWS. 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.