2025-11-06T11:12:32-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC ONE POST OFFICE SQUARE SUITE 2950 BOSTON MA 02109 990 2024-01-01 237011408 LOWER ROXBURY COMMUNITY CORPORATION LOWE 6175413900 184 DUDLEY STREET ROXBURY MA 02119 AMANDA PURICELLI CHIEF FINANCIAL OFFICER 6175413900 2025-11-06 1 1 LORI ROTHE YOKOBOSKY P01273422 6176481400 2025-11-05 2024 2025-03-06 01:10:19Z AMANDA PURICELLI 184 DUDLEY STREET ROXBURY MA 02119 10497183 0 X N/A X 1967 MA TO FURTHER THE INTEREST OF ALL OF THE RESIDENTS IN THE AREA KNOWN AS LOWER ROXBURY. 9 9 0 11 0 0 5000 5484097 2702227 3000828 441935 507397 141225 1504861 3290387 10497183 0 11726607 0 0 0 0 0 0 0 3360310 7609832 3360310 19336439 -69923 -8839256 66998636 25207746 28436944 20232904 38561692 4974842 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 19279384 11726607 3052689 TO FURTHER THE INTEREST OF ALL OF THE RESIDENTS IN THE AREA KNOWN AS LOWER ROXBURY IN THE MATTERS OF HOUSING, EDUCATION, RECREATION AND GENERALLY TO WORK FOR THE REVITALIZATION OF THE COMMUNITY. 19279384 1 1 0 0 0 0 0 0 0 0 1 0 1 0 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 1 1 1 0 0 0 1 26 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 AMANDA PURICELLI 6175413900 184 DUDLEY STREET ROXBURY MA 02119 AYANNA HINES PRESIDENT 1.00 3.00 X X 0 0 0 CHANDA K SMART DIRECTOR 1.00 3.00 X 0 0 0 DWAYNE WATTS DIRECTOR 1.00 3.00 X 0 0 0 GLORIA BROOKS VICE PRESIDENT 1.00 3.00 X X 0 0 0 IVELISE RIVERA TREASURER 1.00 3.00 X X 0 0 0 LISA MORISHANTI DIRECTOR (UNTIL 7/24) 1.00 3.00 X 0 0 0 MALIK AZIZ DIRECTOR 1.00 3.00 X 0 0 0 NINA RUFF SECRETARY 1.00 3.00 X X 0 0 0 ROBERT L TERRELL DIRECTOR 1.00 3.00 X 0 0 0 SONRISA HAYES DIRECTOR 1.00 3.00 X 0 0 0 VICTORIA LYNN AWKWARD DIRECTOR (UNTIL 7/24) 1.00 3.00 X 0 0 0 INGRID TUCKER INTERIM CHIEF EXECUTIVE OFFICER 1.00 42.00 X 0 246330 42601 INITYA AMBROGI-ISAZA VICE PRESIDENT OF REAL ESTATE 1.00 42.00 X 0 197203 29387 LESLIE REID CHIEF EXECUTIVE OFFICER 1.00 42.00 X 0 167234 21523 EVELYN BARNES CFO (UNTIL 06/24) 1.00 42.00 X 0 56619 6035 0 667386 99546 0 0 1 0 WEST WORK LLC 103 TERRACE ST 2ND FLOOR BOSTON MA 02120 ARCHITECT SERVICES 120623 1 5439135 10688 34274 5484097 RENTAL INCOME 531110 2080328 2080328 INTEREST ON NOTES REC. 531110 891519 891519 MANAGEMENT FEES REVENUE 531110 28981 28981 3000828 507397 507397 PROCEEDS-SALE OF STATE TAX CREDIT 531110 1453000 1453000 51861 51861 1504861 10497183 3052689 0 1960397 11726607 11726607 246046 246046 5441 5441 35884 35884 21171 21171 23328 23328 29880 29880 784295 784295 1203801 1203801 719686 719686 87104 87104 BAD DEBT EXPENSE 3923779 3923779 REPAIRS & MAINTENANCE 315275 315275 CORPORATE TAXES 29568 29568 184574 184574 19336439 19279384 57055 0 1343967 873280 577605 397418 14272119 1106045 8541 23440934 8921730 16682039 14519204 11326067 8968 20443249 7550889 157442 119306 2196148 624095 66998636 25207746 2259283 2639735 150921 19800 50619 20426815 17038285 5731046 353344 28436944 20232904 X 38561692 4974842 38561692 4974842 66998636 25207746 X -8839256 -35561 -24738587 26554 X 0 1 X 1 0 X 100000 43909 5000 5484097 5633006 1499813 1453077 1481524 2702227 3000828 10137469 1499813 1553077 1525433 2707227 8484925 15770475 0 0 0 15770475 502004 745011 1057939 441935 507397 3254286 502004 745011 1057939 441935 507397 3254286 18828 25526 699235 141225 1504861 2389675 2020645 2323614 3282607 3290387 10497183 21414436 0.73640 0.54420 0.15200 0.19320 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DEBT FORGIVENESS - 2020 AMOUNT: $ 18,828. 2021 AMOUNT: $ 25,526. PARTNERSHIP CAPITAL DISTRIBUTIONS - 2022 AMOUNT: $ 675,621. MISC INCOME - 2022 AMOUNT: $ 23,614. 2023 AMOUNT: $ 141,225. 2024 AMOUNT: $ 51,861. PROCEEDS - SALE OF STATE TAX CREDIT - 2024 AMOUNT: $ 1,453,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 4819999 4819999 18416034 8641145 9774889 204901 280585 -75684 14519204 INVESTMENT IN HSG SUBSIDIARIES 7550889 C 7550889 DUE TO AFFILIATED ENTITIES 281691 OTHER LIABILITIES 71653 353344 X PART X, LINE 2: MPDC AND CERTAIN SUBSIDIARIES 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, 2024 AND 2023, THERE WAS NO UNRELATED BUSINESS INCOME. 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 ("IRS") OR COMMONWEALTH OF MASSACHUSETTS ADDRESSING ANY SUBSEQUENT YEAR. 1 MADISON PARK DEVELOPMENT CORPORATION 184 DUDLEY STREET SUITE 200 ROXBURY MA 02119 237164223 501(C)(3) 11726607 0 GENERAL SUPPORT 1 0 PART I, LINE 2: THE ORGANIZATION MADE INTERCOMPANY GRANTS TO RELATED ORGANIZATIONS AND USE OF GRANTS CAN BE EASILY MONITORED. 1 0 0 0 0 0 0 0 0 INGRID TUCKER INTERIM CHIEF EXECUTIVE OFFICER 0 226720 0 19610 0 0 0 10263 0 32338 0 288931 0 0 INITYA AMBROGI-ISAZA VICE PRESIDENT OF REAL ESTATE 0 191203 0 6000 0 0 0 8207 0 21180 0 226590 0 0 LESLIE REID CHIEF EXECUTIVE OFFICER 0 137234 0 0 0 30000 0 5659 0 15864 0 188757 0 0 PART I, LINE 3 THE ORGANIZATION'S CEO IS COMPENSATED BY MADISON PARK DEVELOPMENT CORPORATION, A RELATED ENTITY. THIS ENTITY USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE PART I, LINE 4A LESLIE REED RECEIVED SEVERANCE COMPENSATION FOR $30,000 DURING CALENDAR YEAR 2024. 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 AND THE FULL BOARD IS PROVIDED A COMPLETE COPY OF THE FORM 990 PRIOR TO 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: PARTNERSHIP DISTRIBUTIONS 26,554. 639 WARREN LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 30333 4106311 LRCC 75 DUDLEY LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 0 606380 LRCC LRCC HOLDINGS LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 0 0 LRCC LRCC LEASING LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 1037684 616645 LRCC LRCC MAINTENANCE LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 669144 566400 LRCC MADISON 84 WARREN LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 0 26551 LRCC MADISON MM 84 WARREN LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 0 0 LRCC MADISON WASHINGTON II LLC 184 DUDLEY STREET SUITE 102 ROXBURY MA 02119 237011408 RENTAL REAL ESTATE MA 1323987 7217838 LRCC NEW BERYL GARDENS PARTNER LLC 184 DUDLEY 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