2018-11-05T10:38:30-06:00 2017-12-31 221478099 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2017-01-01 237011408 LOWER ROXBURY COMMUNITY CORPORATION LOWE 6175413900 184 DUDLEY STREET ROXBURY MA 02119 KEVIN J REILLY CFO 6175413900 2018-10-26 1 LEONARD J BERKOWITZ P00872822 6176481400 2018-10-25 209.3.217.20 2018-10-26 14:10:01 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 238159564A7F207AC3E2D33505B4833284B8AC6F 2017 2019-02-21 02:37:17Z JEANNE PINADO 184 DUDLEY STREET ROXBURY MA 02119 4578281 0 X N/A X 1967 MA TO FURTHER THE INTEREST OF ALL OF THE RESIDENTS IN THE AREA KNOWN AS LOWER ROXBURY IN MATTERS OF HOUSING, EDUCATION, RECREATION AND TO REVITALIZE THE COMMUNITY. 9 9 0 0 0 0 0 0 10879340 4434688 84621 142263 1287825 1330 12251786 4578281 13724874 3346850 0 0 0 0 0 0 0 1210191 1302947 14935065 4649797 -2683279 -71516 21788444 24636954 7750478 11829836 14037966 12807118 X THE OVERALL MISSION IS TO FOSTER THE SOCIAL, PHYSICAL, ECONOMIC AND CULTURAL RENAISSANCE OF THE LOWER ROXBURY COMMUNITY BY PROMOTING THE ECONOMIC SELF-SUFFICIENCY AND SOCIAL WELL-BEING OF LOW-INCOME AND MODERATE-INCOME RESIDENTS AND ADVOCATING FOR THE HOME OWNERSHIP, BUSINESS DEVELOPMENT OR EDUCATION. 0 0 4649797 3346850 1089168 TO FURTHER THE INTEREST OF ALL OF THE RESIDENTS IN THE AREA KNOWNAS LOWER ROXBURY IN THE MATTERS OF HOUSING, EDUCATION, RECREATIONAND GENERALLY TO WORK FOR THE REVITALIZATION OF THE COMMUNITY. 4649797 1 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X JEANNE PINADO 6178496220 184 DUDLEY STREET ROXBURY MA 02119 AYANNA HINES DIRECTOR 1.00 3.00 X 0 0 0 DION IRISH DIRECTOR 1.00 3.00 X 0 0 0 ELMER FREEMAN DIRECTOR 1.00 3.00 X 0 0 0 IVELISE RIVERA PRESIDENT 1.00 3.00 X X 0 0 0 LISA MORISHANTI VICE PRESIDENT 1.00 3.00 X X 0 0 0 MALIK AZIZ DIRECTOR 1.00 3.00 X 0 0 0 MATTHEW CAMP TREASURER 1.00 3.00 X X 0 0 0 MILTON IRVING OUTGOING DIRECTOR 1.00 3.00 X 0 0 0 NINA RUFF SECRETARY/CLERK 1.00 3.00 X X 0 0 0 SONRISA HAYNES DIRECTOR 1.00 3.00 X 0 0 0 BROOKE E WOODSON OUTGOING ASSISTANT SECRETARY 3.00 40.00 X 0 92145 0 GAYLE HARROLD OUTGOING CFO/ASSISTANT TREASURER 3.00 40.00 X 0 58405 0 JEANNE M PINADO CEO/ASST TREASURER 3.00 40.00 X 0 216301 25966 KEVIN J REILLY CFO 3.00 40.00 X 0 42165 4802 ABRIGAL FORRESTER DIRECTOR - HIBERNIAN HALL 1.00 40.00 X 0 115596 18928 BRIAN PILCHER SENIOR ASSET MANAGER 1.00 40.00 X 0 132500 6316 MICHAEL BUSTIN DIRECTOR - COMMUNITY ACTION 1.00 40.00 X 0 109500 17536 RUSSELL TANNER VICE PRESIDENT OF REAL EST 1.00 40.00 X 0 205800 27154 0 972412 100702 0 0 1 0 0 PARNERSHIP INCOME 531110 3346850 3346850 RENTAL INCOME 531110 1077842 1077842 MANAGEMENT FEE REVENUE 531110 9996 9996 4434688 142263 142263 DEBT FORGIVENESS INCOM 531110 1330 1330 1330 4578281 4436018 0 142263 3346850 3346850 33042 33042 15996 15996 2856 2856 16450 16450 329166 329166 346044 346044 294699 294699 22354 22354 REAL ESTATE TAXES 155191 155191 SALARIES AND BENEFITS 87149 87149 4649797 4649797 0 0 1059888 365357 18343 76548 1967502 2742771 9971336 2153758 7112685 7817578 5393613 4333932 6236413 9300768 21788444 24636954 360516 70780 6842113 7975325 547849 3783731 7750478 11829836 X 14037966 12807118 14037966 12807118 21788444 24636954 X -71516 56138 -1215470 X X 0 1 X 1 0 X 1239938 1658069 10889829 10879340 4434688 29101864 1239938 1658069 10889829 10879340 4434688 29101864 0 0 0 29101864 10154 38158 48389 84621 142263 323585 10154 38158 48389 84621 142263 323585 1287825 1330 1289155 1250092 1696227 10938218 12251786 4578281 30714604 0.94750 0.63820 0.01050 0.00410 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DEBT FORGIVENESS - 2016 AMOUNT: $ 1,287,825. 2017 AMOUNT: $ 1,330. 1228952 1228952 8537483 2133748 6403735 204901 20010 184891 7817578 INVESTMENT IN HSG SUBSIDIARIES 445134 C INVESTMENT IN SECURITIES 3888798 F 4333932 FINANCING FEES 219519 DUE FROM AFFILIATES 9007405 OTHER ASSETS 73844 9300768 DUE TO AFFILIATED ENTITIES 3685191 OTHER CURRENT LIABILITIES 98540 3783731 X PART X, LINE 2: MPDC AND CERTAIN SUBSIDIARIES, NAMELY; MADISON PARK ECONOMIC DEVELOPMENT CORPORATION, MADISON PARK HOUSING CORPORATION AND LOWER ROXBURY COMMUNITY CORPORATION ("LRCC") QUALIFY AS ORGANIZATIONS FORMED FOR CHARITABLE PURPOSES UNDER SECTION 501(C)(3) OF THE IRC AND THEREFORE ARE NOT SUBJECT TO INCOME TAX AND ARE NOT PRIVATE FOUNDATIONS UNDER SECTION 509(A)(1). CERTAIN UNRELATED BUSINESS INCOME, AS DEFINED IN THE IRC, IS SUBJECT TO FEDERAL INCOME TAX. FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016, THERE WAS NO UNRELATED BUSINESS INCOME. ADDITIONAL SUBSIDIARIES OR AFFILIATES OF MPDC, NAMELY, BERYL GARDENS, INC., BERYL GARDENS COOPERATIVE CORPORATION, DUDLEY GREENVILLE MM LLC, MPIII TOWNHOMES MM LLC., MADISON PARK IV GP LLC, MADISON RUGGLES SHAWMUT, INC., MADISON WILLIAMS MM LLC, SMITH II INC., AND SMITH SENIOR RESIDENCES MM LLC, ARE C CORPORATIONS OR LLCS THAT HAVE ELECTED TO BE TAXED AS A CORPORATION THAT ARE SUBJECT TO TAXATION AT THE FEDERAL AND STATE LEVELS. DEFERRED TAXES ARE COMPUTED BASED ON THE DIFFERENCE BETWEEN THE FINANCIAL STATEMENTS AND INCOME TAX BASIS OF ASSETS AND LIABILITIES USING ENACTED MARGINAL TAX RATES. AS OF DECEMBER 31, 2017 AND 2016, THE TAX EXPENSE, DEFERRED TAXES, AND VALUATION ALLOWANCES ARE IMMATERIAL. BERYL GARDENS LIMITED PARTNERSHIP, HAYNES HOUSE ASSOCIATES II LIMITED PARTNERSHIP, MADISON PARK III ASSOCIATES LIMITED PARTNERSHIP, MPIV 2011 LIMITED PARTNERSHIP, MBII LP, AND SMITH HOUSE II LIMITED PARTNERSHIP ARE PARTNERSHIPS AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO THE PARTNERS. DUDLEY GREENVILLE LLC, MADISON WILLIAMS LLC, MPIII TOWNHOMES LLC, SMITH SENIOR RESIDENCES LLC AND RUGGLES SHAWMUT HOUSING LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO THE MEMBERS. MADISON BARD LLC, MADISON SCHOOL HOUSE LLC, MADISON TROPICAL LLC, MADISON TROPICAL MARKET LLC, MADISON WILLIAMS LLC (IN 2015), MADISON GATEWAY LLC, P10 DEVELOPMENT SERVICES LLC, MADISON PROPERTY DEVELOPMENT LLC AND 2451 WASHINGTON LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO MPDC AS THE SOLE MEMBER. MADISON WASHINGTON II LLC AND LRCC MAINTENANCE LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO LOWER ROXBURY COMMUNITY CORPORATION AS THE SOLE MEMBER. MADISON HIBERNIAN HALL LLC, LRCC LEASING LLC, LRCC HOLDINGS LLC AND DEWITT COMMUNITY CENTER LLC ARE LIMITED LIABILITY COMPANIES AND ALL TAXABLE INCOME AND LOSSES ARE ALLOCATED TO MADISON PARK ECONOMIC DEVELOPMENT CORPORATION AS THE SOLE MEMBER. NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS FOR ANY OF THESE ENTITIES SINCE THE LIMITED LIABILITY COMPANIES' NET TAXABLE PROFIT OR LOSS IS PASSED THROUGH TO THE INDIVIDUAL MEMBERS AND THE PARTNERSHIPS' INCOME OR THE LOSS IS PASSED THROUGH TO ITS PARTNERS. THE PROVISIONS OF GAAP REQUIRE THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED UPON A MORE LIKELY THAN NOT THRESHOLD. THIS APPLIES TO TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE TAX RETURNS OF ALL ENTITIES INCLUDED IN THE COMPANY'S CONSOLIDATED GROUP. THE COMPANY REGULARLY ASSESSES THE POTENTIAL SETTLEMENT OUTCOMES RESULTING FROM INCOME TAX EXAMINATIONS. THE IMPLEMENTATION OF THESE PROVISIONS HAS NO IMPACT ON THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS AS THE COMPANY BELIEVES THAT ITS CONSOLIDATED FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS. GENERALLY, THE ABOVE INFORMATION OR TAX RETURNS REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE FILING DATE. NO NOTICES HAVE BEEN RECEIVED FROM EITHER THE INTERNAL REVENUE SERVICE OR COMMONWEALTH OF MASSACHUSETTS ADDRESSING ANY SUBSEQUENT YEAR. 1 MADISON PARK HOUSING CORPORATION 184 DUDLEY STREET ROXBURY MA 02119 042743779 501C(3) 3346850 FMV TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION 1 PART I, LINE 2: ALL GRANTS ARE MADE TO RELATED PARTIES AND AS SUCH ARE CLOSELY MONITORED 0 0 0 0 0 0 0 0 0 JEANNE M PINADO CEO/ASST TREASURER 0 187301 0 29000 0 0 0 8646 0 17320 0 242267 0 0 RUSSELL TANNER VICE PRESIDENT OF REAL EST 0 187300 0 18500 0 0 0 8226 0 18928 0 232954 0 0 PART I, LINE 3 LOWER ROXBURY COMMUNITY CORPORATION HAS NO EMPLOYEES. ALL COMPENSATION IS PROVIDED TO EMPLOYEES OF ITS SOLE MEMBER, MADISON PARK DEVELOPMENT CORPORATION. PLEASE REFER TO MPDC'S FORM 990 FOR COMPENSATION INFORMATION AND DECISION MAKING. FORM 990, PART VI, SECTION A, LINE 3 DURING 2008, THE COMPANY ENTERED INTO A MANAGEMENT AGREEMENT WITH CORNU MANAGEMENT COMPANY, INC. THE MANAGEMENT FEE IS EQUAL TO 5% OF GROSS COLLECTED REVENUE. THE AGREEMENT IS IN EFFECT ON A YEAR-TO-YEAR BASIS. FORM 990, PART VI, SECTION A, LINE 6 MADISON PARK DEVELOPMENT CORPORATION IS THE SOLE MEMBER OF LOWER ROXBURY COMMUNITY CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A MADISON PARK DEVELOPMENT CORPORATION, A SOLE MEMBER, HAS THE POWER TO APPOINT THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED PRIOR TO ISSUANCE BY THE FINANCE COMMITTEE WHO THEN MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS TO APPROVE FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: 1. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; 2. HAS READ AND UNDERSTOOD THIS POLICY; 3. HAS AGREED TO COMPLY WITH POLICY AND 4. UNDERSTANDS THAT THE ORGANIZATION IS A NON-PROFIT AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPTED PURPOSES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: WRITEOFF INTERCOMPANY ACCOUNTS -1,215,470. FORM 990 PART XII LINE 2C THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AS WELL AS THE SELECTION OF THE INDEPENDENT ACCOUNTANT MADISON PARK HOUSING CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042743779 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 MPDC 0 MADISON PARK DEVELOPMENT CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237164223 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 N/A 0 MADISON PARK ECONOMIC DEVELOPMENT CORP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043126706 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 MPDC 0 ORCHARD GARDENS RESIDENT ASSOCIATION INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042867846 AFFORDABLE HOUSING MA 501(C)(3) LINE 11 MPDC 0 ADAMS ORCHARD LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428515 RENTAL REAL ESTATE MA N/A BERYL GARDENS LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293229 RENTAL REAL ESTATE MA N/A DUDLEY GREENVILLE LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 272754424 RENTAL REAL ESTATE MA N/A HAYNES HOUSE II LP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043231123 RENTAL REAL ESTATE MA LRCC RELATED -50880 -1710852 0 0 0.99000 MADISON BOTOLPH II LP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 364796660 RENTAL REAL ESTATE MA N/A MADISON PARK IV 2011 LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 453459053 RENTAL REAL ESTATE MA N/A MADISON TRINITY LIMITED PARTNERSHIP 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043339768 RENTAL REAL ESTATE MA LRCC RELATED -10424661 -12877208 0 0 0.51000 MPIII TOWNHOMES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 473681685 RENTAL REAL ESTATE MA N/A RUGGLES SHAWMUT HOUSING LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 202182768 RENTAL REAL ESTATE MA N/A SMITH SENIOR RESIDENCES LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 320494148 RENTAL REAL ESTATE MA N/A ADAMS ORCHARD INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428514 RENTAL REAL ESTATE MA N/A C 0 BERYL GARDENS COOPERATIVE CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043296338 RENTAL REAL ESTATE MA LRCC C -14728 1.00000 1 BERYL GARDENS INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293227 RENTAL REAL ESTATE MA LRCC C -15720 1.00000 1 DUDLEY GREENVILLE MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 272754424 RENTAL REAL ESTATE MA N/A C 0 HAYNES II INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043220498 RENTAL REAL ESTATE MA LRCC C -9 23 1.00000 1 LOWER ROXBURY MANAGEMENT CORPORATION 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 042628306 RENTAL REAL ESTATE MA N/A C 0 MADISON BOTOLPH GP INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 462310065 RENTAL REAL ESTATE MA LRCC C 1.00000 1 MADISON DAVENPORT INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043428521 RENTAL REAL ESTATE MA N/A C 0 MADISON PARK IV GP LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 453261293 RENTAL REAL ESTATE MA LRCC C 0.79000 1 MADISON RUGGLES SHAWMUT INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 651251191 RENTAL REAL ESTATE MA N/A C 0 MPIII TOWNHOMES MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 473661174 RENTAL REAL ESTATE MA LRCC C 1.00000 1 MTV INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043339765 RENTAL REAL ESTATE MA N/A C 0 SMITH II INC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 043293223 RENTAL REAL ESTATE MA LRCC C -8500 -25500 1.00000 1 SMITH SENIOR RESIDENCES MM LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 812393714 RENTAL REAL ESTATE MA LRCC C 0.55000 1 1 1 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 1 SMITH HOUSE II LP D 60000 COST HAYNES HOUSE ASSOCIATED II LP D 155000 COST MP III TOWNHOMES LLC D 150000 COST