2014-11-13T13:26:34-06:00 2013-12-31 043195921 SANDBERG & CREEDEN PC 331 PAGE ST STE 2 STOUGHTON MA 020721172 990 2013-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6177873874 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 MARGARET MILEY EXECUTIVE DIRECTOR 6177873874 2014-10-25 true THERESA J CREEDEN P00747568 7813440850 2014-10-30 2013 2015-11-30 17:44:51Z VERNETTE ALLEN 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 351803 false X MASSASSETS.ORG X 2007 MA 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. 10 10 11 0 239517 288800 462 54737 11547 0 718 2666 252244 346203 10000 4000 0 192973 276001 0 11022 73047 81270 276020 361271 -23776 -15068 1238289 1422467 1162229 1361475 76060 60992 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. false false 316611 4000 BUILDING SAVINGS AND INVESTMENT: MULTIPLE MATCHED SAVINGS PROGRAMS OPERATE IN PARTNERSHIP WITH 22 MEMBER ORGANIZATIONS ACROSS MASSACHUSETTS. LOW AND MODERATE INCOME "INVESTORS" FROM DORCHESTER TO NORTH ADAMS TO LAWRENCE ARE SAVING, LEARNING AND PLANNING FOR THEIR NEW ASSETS. 1011 ENROLLED INVESTORS AT 22 MEMBER SITES COLLECTIVELY SAVED OVER 1.1 MILLION, EARNED A COMBINED MATCH OF OVER 1.5 MILLION, AND ATTENDED OVER 11,000 HOURS OF FINANCIAL AND ASSET TRAINING TO BUILD THEIR FINANCIAL STRENGTH. THE 387 INVESTORS WHO GRADUATED BY THE END OF 2013 INVESTED IN OVER 27.8 MILLION WORTH OF HOMES, EDUCATIONS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, AND RAINY DAY FUNDS. INCREASING ACCESS TO INDIVIDUAL SUPPORT: MIDAS LAUNCHED THE FINANCIAL CONFIDENCE & COACHING CAMPAIGN, A MULTIPLATFORM, HIGH QUALITY FINANCIAL EDUCATION RESOURCE THAT INCLUDES A STATE-OF-THE-ART INTERACTIVE CONSUMER WEBSITE WITH FINANCIAL EDUCATION RESOURCES, APPS, TOOLS, AND CONNECTIONS TO LOCAL PROVIDERS. IN THE ONLY PROGRAM OF ITS KIND, RESIDENTS CAN ACCESS NATIONALLY CERTIFIED, MULTILINGUAL FINANCIAL COACHES VIA PHONE AND VIRTUAL PLATFORMS. THIS EFFICIENT, YET HIGH-TOUCH INDIVIDUAL SERVICE IS AVAILABLE DURING WEEKDAYS AND WEEKENDS AT VARIED HOURS THROUGHOUT MASSACHUSETTS. IT HAS INITIAL SUPPORT FROM THE MASS ATTORNEY GENERAL'S OFFICE, COVERAGE IN LOCAL PAPERS, AND A WHITE PAPER ON THE APPROACH, "WHAT DO WE MEAN BY REMOTE COACHING?" ADDING FINANCIAL STABILITY TO WORKFORCE PROGRAMS: MIDAS LED AN INNOVATIVE PILOT PROGRAM TO PREPARE DIRECT SERVICE PROVIDERS IN WORKFORCE TRAINING PROGRAMS TO INCLUDE FINANCIAL STABILITY TRAINING AND COACHING. MIDAS PROVIDED TECHNICAL SUPPORT, FUNDING, AND TRAINING IN FINANCIAL STABILITY TO TWO ORGANIZATIONS IN BOSTON, INCLUDING TRAINING AND TOOLS IN FINANCIAL TOPICS AND FINANCIAL COACHING METHODS FOR THE PURPOSE OF INTEGRATING THEM INTO THEIR CAREER SERVICES. 120 RESIDENTS WERE SERVED. MIDAS AND SKILLWORKS PUBLISHED A WHITE PAPER ON THE PROMISE AND CHALLENGE OF THIS EFFICIENT, HOLISTIC APPROACH, "INTEGRATING FINANCIAL STABILITY STRATEGIES INTO WORKFORCE DEVELOPMENT PROGRAMS: AN IMPLEMENTATION PILOT IN BOSTON." TRAINING DIRECT SERVICE PROVIDERS: MIDAS PROVIDED TRAININGS IN CRITICAL AREAS FOR STAFF MEMBERS SERVING LOW AND MODERATE INCOME RESIDENTS OF MASSACHUSETTS: "SMALL BUSINESS FINANCES FOR ENTREPRENEURS AND THEIR FAMILIES" ON THE INTEGRATION OF PERSONAL AND SMALL BUSINESS FINANCES; "YOUR MONEY, YOUR GOALS," THE BETA-VERSION OF AN IN-DEVELOPMENT TOOLKIT FROM THE CONSUMER FINANCIAL PROTECTION BUREAU; BEHAVIORAL ECONOMICS STRATEGIES FOR FINANCIAL STABILITY PROGRAMS; AND A THREE-PART TRAIN-THE-TRAINER SERIES ON COLLABORATIVE OUTCOMES ASSESSMENT. MORE THAN 200 DIRECT PROVIDERS WILL SHARE THIS EXPERTISE WITH THOUSANDS OF MASSACHUSETTS RESIDENTS. IMPROVING FINANCIAL EDUCATION: THE MASSACHUSETTS FINANCIAL EDUCATION COLLABORATIVE (MFEC), A MEMBER-DRIVEN INITIATIVE OF MIDAS WITH A VISION TO MAKE MASSACHUSETTS A NATIONAL MODEL FOR FINANCIAL CONFIDENCE AND EMPOWERMENT, INCLUDES EDUCATORS, COMMUNITY ORGANIZATIONS, PUBLIC AGENCIES AND INSTITUTIONS, COMMUNITY BANKS, CREDIT UNIONS, OTHER FINANCIAL INSTITUTIONS, FINANCIAL PLANNERS, COACHES, AND OTHER INDIVIDUALS AND ORGANIZATIONS THAT INVEST IN FINANCIAL EDUCATION, AND SERVES AS THE BACKBONE AND REFERRAL NETWORK TO WWW.MASSSAVES.ORG. IN 2013, MFEC HOSTED ITS FIFTH ANNUAL SUMMIT WITH OVER 150 OF ITS CLOSEST MEMBERS; REINFORCING DEVELOPING PARTNERSHIPS, INTRODUCING NEW TECHNOLOGY FOR COLLABORATION, AND PROVIDING INTERACTIVE WORKSHOPS AND INFORMATION IN AREAS AS DIVERSE AS PROGRAM DESIGN, HOSTING FINANCIAL EDUCATION FAIRS, AND BUILDING COMMUNITY REINVESTMENT ACT PARTNERSHIPS. 316611 true true false true false false false false false false true false false true true false true false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 2 0 true 11 true false false false false false false X 10 10 false true false false false true true true true false false true true false false false false true true false MA X X ALLSTON-BRIGHTON CDC 6177873874 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 X VERNETTE ALLEN CO-CHAIR 0.50 X X 0 0 0 JACQUELINE COOPER CLERK 0.50 X X 0 0 0 BLAIR BENJAMIN TREASURER 0.50 X X 0 0 0 SALONI BOWRY DIRECTOR 0.50 X 0 0 0 SUSANNE CAMERON CO-CHAIR 0.50 X X 0 0 0 JUAN BONILLA DIRECTOR 0.50 X 0 0 0 ANJALI WAIKER DIRECTOR 0.50 X 0 0 0 ANGELA GOMES DIRECTOR 0.50 X 0 0 0 TOM LORELLO DIRECTOR 0.50 X 0 0 0 JENNIFER LOWE DIRECTOR 0.50 X 0 0 0 false false false 30960 110397 147443 288800 SERVICE FEES 53593 53593 OTHER FEES 1144 1144 54737 8266 30960 5600 2666 2666 346203 57403 X 4000 4000 59969 35982 14992 8995 177789 177789 17667 15402 1416 849 20576 18579 1248 749 6493 6493 44995 39471 5524 13616 12767 728 121 10000 9200 500 300 2706 1777 929 1050 1050 246 226 12 8 2164 368 1796 361271 316611 33638 11022 140110 156055 29704 36337 8168 9228 1230 615 861 615 1059446 1220232 1238289 1422467 7662 19746 60207 83674 1094360 1258055 1162229 1361475 X 31962 40175 44098 20817 76060 60992 1238289 1422467 -15068 X false true X true false X 207953 249321 284994 218742 288800 1249810 207953 249321 284994 218742 288800 1249810 264256 985554 1723 11547 13270 3642 6190 8266 18098 1281178 101070 0.76930 0.73060 X PART II, LINE 10 FMV EVENT TICKET SALES 18,098 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3633 3633 357638 361271 72254 18064 54881 45499 55678 72254 228312 342468 1147 3379 3253 3633 11412 13720 11375 13920 18064 57079 85619 1230 615 615 615 FUNDS HELD FOR OTHERS 1220232 1220232 FUNDS HELD FOR OTHERS 1220232 ACCOUNTS PAYABLE TO RELATED PARTY 37823 1258055 346203 346203 346203 361271 361271 361271 ASSETS & OPPORT 39226 30960 8266 5600 39226 30960 8266 5600 5600 2666 FORM 990 - ORGANIZATION'S MISSION 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. FORM 990, PAGE 2, PART III, LINE 4A INCREASING ACCESS TO INDIVIDUAL SUPPORT: MIDAS LAUNCHED THE FINANCIAL CONFIDENCE & COACHING CAMPAIGN, A MULTIPLATFORM, HIGH QUALITY FINANCIAL EDUCATION RESOURCE THAT INCLUDES A STATE-OF-THE-ART INTERACTIVE CONSUMER WEBSITE WITH FINANCIAL EDUCATION RESOURCES, APPS, TOOLS, AND CONNECTIONS TO LOCAL PROVIDERS. IN THE ONLY PROGRAM OF ITS KIND, RESIDENTS CAN ACCESS NATIONALLY CERTIFIED, MULTILINGUAL FINANCIAL COACHES VIA PHONE AND VIRTUAL PLATFORMS. THIS EFFICIENT, YET HIGH-TOUCH INDIVIDUAL SERVICE IS AVAILABLE DURING WEEKDAYS AND WEEKENDS AT VARIED HOURS THROUGHOUT MASSACHUSETTS. IT HAS INITIAL SUPPORT FROM THE MASS ATTORNEY GENERAL'S OFFICE, COVERAGE IN LOCAL PAPERS, AND A WHITE PAPER ON THE APPROACH, "WHAT DO WE MEAN BY REMOTE COACHING?" ADDING FINANCIAL STABILITY TO WORKFORCE PROGRAMS: MIDAS LED AN INNOVATIVE PILOT PROGRAM TO PREPARE DIRECT SERVICE PROVIDERS IN WORKFORCE TRAINING PROGRAMS TO INCLUDE FINANCIAL STABILITY TRAINING AND COACHING. MIDAS PROVIDED TECHNICAL SUPPORT, FUNDING, AND TRAINING IN FINANCIAL STABILITY TO TWO ORGANIZATIONS IN BOSTON, INCLUDING TRAINING AND TOOLS IN FINANCIAL TOPICS AND FINANCIAL COACHING METHODS FOR THE PURPOSE OF INTEGRATING THEM INTO THEIR CAREER SERVICES. 120 RESIDENTS WERE SERVED. MIDAS AND SKILLWORKS PUBLISHED A WHITE PAPER ON THE PROMISE AND CHALLENGE OF THIS EFFICIENT, HOLISTIC APPROACH, "INTEGRATING FINANCIAL STABILITY STRATEGIES INTO WORKFORCE DEVELOPMENT PROGRAMS: AN IMPLEMENTATION PILOT IN BOSTON." TRAINING DIRECT SERVICE PROVIDERS: MIDAS PROVIDED TRAININGS IN CRITICAL AREAS FOR STAFF MEMBERS SERVING LOW AND MODERATE INCOME RESIDENTS OF MASSACHUSETTS: "SMALL BUSINESS FINANCES FOR ENTREPRENEURS AND THEIR FAMILIES" ON THE INTEGRATION OF PERSONAL AND SMALL BUSINESS FINANCES; "YOUR MONEY, YOUR GOALS," THE BETA-VERSION OF AN IN-DEVELOPMENT TOOLKIT FROM THE CONSUMER FINANCIAL PROTECTION BUREAU; BEHAVIORAL ECONOMICS STRATEGIES FOR FINANCIAL STABILITY PROGRAMS; AND A THREE-PART TRAIN-THE-TRAINER SERIES ON COLLABORATIVE OUTCOMES ASSESSMENT. MORE THAN 200 DIRECT PROVIDERS WILL SHARE THIS EXPERTISE WITH THOUSANDS OF MASSACHUSETTS RESIDENTS. IMPROVING FINANCIAL EDUCATION: THE MASSACHUSETTS FINANCIAL EDUCATION COLLABORATIVE (MFEC), A MEMBER-DRIVEN INITIATIVE OF MIDAS WITH A VISION TO MAKE MASSACHUSETTS A NATIONAL MODEL FOR FINANCIAL CONFIDENCE AND EMPOWERMENT, INCLUDES EDUCATORS, COMMUNITY ORGANIZATIONS, PUBLIC AGENCIES AND INSTITUTIONS, COMMUNITY BANKS, CREDIT UNIONS, OTHER FINANCIAL INSTITUTIONS, FINANCIAL PLANNERS, COACHES, AND OTHER INDIVIDUALS AND ORGANIZATIONS THAT INVEST IN FINANCIAL EDUCATION, AND SERVES AS THE BACKBONE AND REFERRAL NETWORK TO WWW.MASSSAVES.ORG. IN 2013, MFEC HOSTED ITS FIFTH ANNUAL SUMMIT WITH OVER 150 OF ITS CLOSEST MEMBERS; REINFORCING DEVELOPING PARTNERSHIPS, INTRODUCING NEW TECHNOLOGY FOR COLLABORATION, AND PROVIDING INTERACTIVE WORKSHOPS AND INFORMATION IN AREAS AS DIVERSE AS PROGRAM DESIGN, HOSTING FINANCIAL EDUCATION FAIRS, AND BUILDING COMMUNITY REINVESTMENT ACT PARTNERSHIPS. FORM 990, PAGE 6, PART VI, LINE 3 FINANCIAL MANAGMENT 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, PAGE 6, PART VI, LINE 7A ADMISSION AS A FULL MEMBER REQUIRES: (I) NOMINATION BY AN EXISTING FULL MEMBER IN GOOD STANDING, (II) APPROVAL BY THE BOARD OF DIRECTORS, AND; (III)APPROVAL BY AN AFFIRMATIVE VOTE OF AT LEAST THREE-FOURTHS OF ALL FULL MEMBERS 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, PAGE 6, PART VI, LINE 7B EACH FULL MEMBER WILL BE ENTITLED THE FOLLOWING RIGHTS: I) ONE VOTE IN ALL MATTERS REQUIRING MEMBER VOTE; II) ONE VOTE TO ELECT REPRESENTATIVES TO THE BOARD OF DIRECTORS; III) ELIGIBILITY 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 CORPORATION BUSINESS. EACH AFFILIATE MEMBER WILL BE ENTITLED THE 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, PAGE 6, PART VI, LINE 11B IRS FORM 990 IS REVIEWED WITH PREPARER BY THE MANAGEMENT SERVICES PERSONNEL AND THEN CIRCULATED TO BOARD MEMBERS PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. FORM 990, PAGE 6, PART VI, LINE 15B EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS PROVIDED UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES 35,271 5,524 0 INTERNSHIPS 4,200 0 0 ORGANIZATION FIRST LOBBYING ACTIVITY IN 2008.