2016-11-15T10:33:33-06:00 2015-12-31 043097400 KEVIN P MARTIN ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2015-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6177873874 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 JENNIFER LOWE CLERK 6177873874 2016-11-15 1 THERESA J CREEDEN P00747568 7813803520 2016-11-15 2015 2017-02-10 21:41:12Z JENNIFER LOWE 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 661656 0 X MASSASSETS.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. 10 10 12 0 0 0 378670 534127 62092 122366 0 0 -3659 -1522 437103 654971 0 0 0 0 293308 315338 0 0 20773 131741 249338 425049 564676 12054 90295 1397151 1824376 1324105 1661035 73046 163341 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 87167 ASSET DEVELOPMENTBUILDING SAVINGS AND INVESTMENT - THE ORGANIZATION OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY PARTNER ORGANIZATIONS ACROSS MASSACHUSETTS. 1,375 ENROLLED INVESTORS AT 25 MEMBER SITES HAVE COLLECTIVELY OVER $3.3 MILLION IN MATCHED SAVINGS, AND ATTENDED OVER 15,300 HOURS OF FINANCIAL AND ASSET TRAINING TO BUILD THEIR FINANCIAL STRENGTH. THE 811 WHO GRADUATED BY DECEMBER 31, 2015 INVESTED IN $36 MILLION WORTH OF HOMES, EDUCATIONS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, AND RAINY DAY FUNDS. 299251 OFFERING FINANCIAL STABILITY TO COMMUNITY COLLEGE STUDENTS - THE ORGANIZATION COMPLETED THE FIRST YEAR OF INVEST IN COLLEGE SUCCESS, AN INNOVATIVE, COLLABORATIVE PILOT OF FINANCIAL STABILITY SERVICES AT THREE COMMUNITY COLLEGES ACROSS THE STATE: BUNKER HILL, NORTHERN ESSEX AND SPRINGFIELD TECHNICAL. THE PROGRAM IS DESIGNED TO INCREASE COLLEGE AFFORDABILITY AND FINANCIAL CAPABILITIES OF STUDENTS. THE ORGANIZATION IS PROVIDING FINANCIAL COACHING, MATCHED SAVINGS, AND PROJECT COORDINATION. UASPIRE, A STATEWIDE NON-PROFIT PARTNER, IS PROVIDING CASE MANAGEMENT AND COLLEGE AFFORDABILITY ADVISING. THE FEDERAL RESERVE BANK OF BOSTON IS PROVIDING RESEARCH AND EVALUATION OF THE INITIATIVE WITH POSITIVE OUTCOMES IN ON-TIME COLLEGE PAYMENTS, FINANCIAL KNOWLEDGE, AND RETENTION. INCREASING ACCESS TO FINANCIAL EDUCATION & INDIVIDUAL FINANCIAL COACHING - THE ORGANIZATION EXPANDED THE FINANCIAL CONFIDENCE & COACHING PROGRAM, WHICH INCLUDES ONLINE FINANCIAL EDUCATION RESOURCES AT WWW.MASSSAVES.ORG AND INDIVIDUAL FINANCIAL COACHING SERVICES. MASSACHUSETTS RESIDENTS ARE MATCHED WITH OUR NATIONALLY CERTIFIED, MULTILINGUAL FINANCIAL COACHES TO MEET WITH THEM VIA PHONE AND VIRTUAL PLATFORMS FOR FREE "ONE-ON-ONE" COACHING SESSIONS, AVAILABLE WEEKDAYS, EVENINGS AND WEEKENDS. 105284 101366 TRAINING IN FINANCIAL TOPICS AND COACHING METHODS - THE ORGANIZATION PROVIDED 10 TRAININGS TO MORE THAN 400 INDIVIDUALS, INCLUDING STAFF MEMBERS FROM A VAST ARRAY OF ORGANIZATIONS ACROSS THE STATE THAT SERVE LOW AND MODERATE INCOME RESIDENTS. TOPICS INCLUDE FOUNDATIONS OF PERSONAL FINANCE, DEMYSTIFYING CREDIT, AND REFINING YOUR COACHING APPROACH.RESEARCH IN BEST PRACTICES IN SMALL BUSINESS DEVELOPMENT - THE ORGANIZATION COMPLETED A 7-YEAR LONGITUDINAL STUDY OF THE PROGRAM THAT COMBINES CAPITAL INVESTMENT AND SMALL BUSINESS TRAINING FOR LOW-INCOME ENTREPRENEURS ACROSS THE STATE. THE REPORT "INNOVATIONS IN MICRO-ENTERPRISE DEVELOPMENT" SHOWS HIGH VOLUME INCOME AND NET WORTH INCREASES AS WELL AS IMPLEMENTATION OF FINANCIAL SKILLS THROUGH THIS PROGRAM.EDUCATION AND OUTREACH ACTIVITIES TO PROMOTE ASSET-BUILDING AND RETENTION POLICIES - AT THE STATE LEVEL, THE ORGANIZATION HAS ENGAGED IN POLICY DISCUSSION ON TOPICS SUCH AS MATCHED SAVINGS, CONSUMER PROTECTION, FINANCIAL EDUCATION, AND ASSET LIMIT REFORM, LEADING AND SUPPORTING COALITION WORK. THE ORGANIZATION CONTINUES TO REPRESENT MASSACHUSETTS IN THE NATIONAL CONVERSATION ON ECONOMIC SECURITY, WHILE IN MASSACHUSETTS THE FOLLOWING INITIATIVES WERE SUCCESSFUL:- INCREASE IN THE STATE EARNED INCOME TAX CREDIT. - EXPANSION OF A PILOT PROGRAM TO INTEGRATE FINANCIAL EDUCATION IN PUBLIC SCHOOLS.- INCREASED STATE REGULATION OF FOR-PROFIT CAREER SCHOOLS.- EDUCATION IN THE ISSUE OF DEBT COLLECTION ABUSES.AT THE NATIONAL LEVEL, ORGANIZATION HAS ALSO PROVIDED SUPPORT FOR INCREASED FEDERAL REGULATION OF PAYDAY LENDERS. 491702 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 5 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 1 1 1 1 0 0 1 1 1 1 0 0 1 1 0 MA X X ALLSTON-BRIGHTON CDC 6177873874 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 X SUSANNE CAMERON PRESIDENT 0.50 X X 0 0 0 BLAIR BENJAMIN TREASURER 0.50 X X 0 0 0 JENNIFER LOWE CLERK 0.50 X X 0 0 0 ROBERT AMARA DIRECTOR 0.50 X 0 0 0 JUAN BONILLA DIRECTOR 0.50 X 0 0 0 ANGELA GOMES DIRECTOR 0.50 X 0 0 0 KATHERINE ADAMS DIRECTOR 0.50 X 0 0 0 TINA ALU DIRECTOR 0.50 X 0 0 0 BARBARA GREENBERG DIRECTOR 0.50 X 0 0 0 WILLIAM WEYDEMEYER DIRECTOR 0.50 X 0 0 0 0 0 0 0 0 0 0 0 29975 304961 199191 534127 SERVICE FEES 611710 122345 122345 OTHER FEES 611710 21 21 122366 5163 29975 6685 -1522 -1522 654971 122366 0 -1522 X 273796 235968 20936 16892 17182 13555 2213 1414 24360 20982 1831 1547 6023 6023 211697 198627 13070 15451 10662 4444 345 10000 9000 600 400 2012 1454 404 154 984 984 522 470 31 21 2649 2649 564676 491702 52201 20773 114313 153013 28372 53145 83892 96625 2373 6944 3340 1513 890 1827 1167311 1512822 1397151 1824376 56018 58060 48870 39616 1219217 1563359 1324105 1661035 X 62046 113341 11000 50000 73046 163341 1397151 1824376 90295 0 X X 0 1 X 1 0 X 284994 218742 288800 378670 534127 1705333 284994 218742 288800 378670 534127 1705333 256473 1448860 11547 11547 3642 6190 8266 2900 5163 26161 1743041 0.83120 0.77790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8708 8708 564676 573384 111008 27752 0 0 55678 72254 85010 111008 323950 485925 3253 3633 7016 8708 22610 13920 18064 21253 27752 80989 121484 3253 3633 7016 8708 22610 3340 1513 1827 1827 FUNDS HELD FOR OTHERS 1512822 1512822 DUE TO FISCAL AGENT 39805 ACCRUED SALARY AND BENEFITS 11442 FUNDS HELD FOR OTHERS 1512112 1563359 654971 0 654971 0 654971 564676 0 564676 0 564676 ASSETS & OPPORTUNITY BREAKFAST 35138 29975 5163 4834 1851 35138 29975 5163 4834 1851 6685 -1522 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 7A ADMISSION AS A FULL MEMBER REQUIRES: (I) NOMINATION BY AN EXISTING FULLMEMBER IN GOOD STANDING, (II) APPROVAL BY THE BOARD OF DIRECTORS, AND; (III)APPROVAL BY AN AFFIRMATIVE VOTE OF AT LEAST THREE-FOURTHS OF ALL FULLMEMBERS IN GOOD-STANDING. ADMISSION AS AN AFFILIATE MEMBER REQUIRES APPROVAL BY AN AFFIRMATIVE VOTE OF A SIMPLE MAJORITY OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B EACH FULL MEMBER WILL BE ENTITLED TO THE FOLLOWING RIGHTS; I) ONE VOTE IN ALL MATTERS REQUIRING MEMBER VOTE; II) ONE VOTE TO ELECT REPRESENTATIVE TO THE BOARD OF DIRECTORS; III) ELIGIBIITY TO SERVE ON THE BOARD OF DIRECTORS; IV) EQUAL OPPORTUNITY TO PRESENT IDEAS TO THE CORPORATION, TO VOICE CONCERNS, AND TO REQUEST CHANGES TO THE CORPORATION'S STRUCTURE, POLICIES, OR OPERATIONS; V) ELIGIBILITY FOR PROGRAM FUNDS RAISED BY THE CORPORATION ON BEHALF OF MEMBERS; VI) IN THE CASE OF A MATCHED SAVINGS PROGRAM, ACCESS TO CENTRALIZED MATCHED ACCOUNT MANAGEMENT, RECORD-KEEPING, AND STATEWIDE PROGRAM DATA COLLECTION AND ANALYSIS BY THE CORPORATION, AS FUNDING AND OPPORTUNITIES PERMIT; VII)DISCOUNTS ON TRAININGS, TECHNICAL ASSISTANCE, WEB-BASED RESOURCES AND ACCESS TO THE CORPORATION'S RESOURCE LIBRARY; AND VIII)ACCESS TO ANY CORPORATION ADMINISTRATIVE RECORDS, INCLUDING MEETING MINUTES, GRANT APPLICATIONS, PEER PROGRAM EVALUATION RESULTS, COMMUNICATIONS WITH AND FROM CORPORATION FUNDERS, AND ANY OTHER DOCUMENTS RELATED TO CORPROATION BUSINESS. EACH AFFILIATE MEMBER WILL BE ENTITLED TOTHE FOLLOWING RIGHTS: I)EQUAL OPPORTUNITY TO PRESENT IDEAS TO THE CORPORATION, TO VOICE CONCERNS, AND TO REQUEST CHANGES TO THE CORPORATION'S STRUCTURE, POLICIES OR OPERATIONS; II) PARTICIPATION IN MEMBER MEETINGS AS NON-VOTING MEMBERS; III) PARTICIPATION IN EDUCATIONAL EFFORTS; IV) DISCOUNTS ON TRAININGS, TECHNICAL ASSISTANCE, WEB-BASED RESOURCES AND ACCESS TO THE CORPORATION'S RESOURCE LIBRARY; AND V) OPPORTUNITY TO APPLY FOR ADMISSION AS A FULL MEMBER. FORM 990, PART VI, SECTION B, LINE 11 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 65,294. MANAGEMENT AND GENERAL EXPENSES 13,070. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 78,364. SUBCONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 133,333. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 133,333. FORM 990, PART XII, LINE 2C: NO CHANGE IN PRIOR YEAR PROCESS