2012-11-14T13:01:17-06:00 2011-12-31 SANDBERG & CREEDEN PC 331 PAGE ST STE 2 STOUGHTON MA 020721172 990 2011-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6177873874 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 MARGARET MILEY 6177873874 2012-10-18 true THERESA J CREEDEN 7813440850 2012-11-09 2011 2016-02-24 21:20:13Z VERNETTE ALLEN 20 LINDEN STREET 2ND FLOOR ALLSTON MA 02134 296031 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 4 0 249321 289896 40059 2493 1723 0 -2410 291103 289979 4200 250 0 139918 152132 0 12520 130285 75112 274403 227494 16700 62485 677787 1180347 640436 1080511 37351 99836 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 177355 250 2493 -BUILDING SAVINGS AND INVESTMENT: MANAGED AND FUNDED MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH 22 MEMBER ORGANIZATIONS IN MASSACHUSETTS. LOW AND MODERATE INCOME "INVESTORS" FROM DORCHESTER TO NORTH ADAMS, FROM LAWRENCE TO HYANNIS ARE SAVING, LEARNING AND PLANNING FOR THEIR NEW ASSETS. SINCE 2007, THE 755 ENROLLED INVESTORS AT 22 MEMBER SITES SAVED OVER 536,000, EARNED A COMBINED MATCH OVER 1,203,654, AND ATTENDED OVER 6500 HOURS OF FINANCIAL AND ASSET TRAINING TO BUILD THEIR FINANCIAL CAPACITIES. THE 207 INVESTORS WHO GRADUATED BY DECEMBER 2011 INVESTED IN OVER 15.3 MILLION WORTH OF HOMES, EDUCATIONS, SMALL BUSINESSES AND OTHER ASSETS. AN INDEPENDENT PROGRAM EVALUATION WAS COMPLETED IN MARCH. -CO-HOSTED A STATEWIDE WEBINAR FOR LEADERS IN MASSACHUSETTS GATEWAY CITIES "NEW MUNICIPAL STRATEGIES FOR ECONOMIC DEVELOPMENT THROUGH ASSET BUILDING AND FINANCIAL EMPOWERMENT." -CONDUCTED RESEARCH FOR THE UNITED WAY OF PIONEER VALLEY IN A REPORT AND PRESENTATION ENTITLED "ENHANCING STABILITY IN HAMPDEN COUNTY" WITH LOCAL DATA, NATIONAL MODELS, AND SPECIFIC RECOMMENDATIONS FOR FINANCIAL STABILITY STRATEGIES FOR THE SPRINGFIELD/HOLYOKE AREA. -HOSTED STATEWIDE MEMBER TRAININGS FOR DIRECT SERVICE PROVIDERS: OFINANCIAL COACHING METHODS - INCREASING THE MOTIVATION AND SUCCESS OF CLIENTS (55 TRAINED, TO SERVE AN ESTIMATED 6300 CLIENTS) OUNDERSTANDING PROPRIETARY SCHOOLS: CONSUMER EDUCATION (35 TRAINED, SERVING ~1200 CLIENTS) OTHE ARRIVAL OF DEBT SETTLEMENT COMPANIES - CONSUMER EDUCATION (35 TRAINED, SERVING ~1200 CLIENTS) -EXPANDED THE MASSACHUSETTS FINANCIAL EDUCATION COLLABORATIVE WITH A GROUP OF PUBLIC/PRIVATE PARTNERS - AN EFFORT TO BUILD AN EFFICIENT, COLLABORATIVE SYSTEM FOR COORDINATING AND EXPANDING FINANCIAL EDUCATION DELIVERY IN THE STATE, IN THE SUMMIT ON FINANCIAL EDUCATION IN OCTOBER, THE MFEC HOSTED 140 STAKEHOLDERS TO SHARE IDEAS AND RESOURCES. THE GOVERNOR PROCLAIMED OCTOBER TO BE FINANCIAL EDUCATION MONTH, AND THE FILM "FACES OF FINANCIAL EDUCATION" WAS PREMIERED. -OPENED THE FIRST CENTRALIZED OFFICE OF FINANCIAL EDUCATION IN MASSACHUSETTS, WITH SUPPORT FROM MFEC PARTNERS AND FUNDERS. A NEW DIRECTOR WAS HIRED BY MIDAS TO MANAGE THE STATEWIDE COORDINATION OF FINANCIAL EDUCATION. SEE MIDAS'S MASSSAVES.ORG WEBSITE FOR MORE DETAILS, ON-LINE RESOURCES, LOCAL TRAINERS, AND CONNECTIONS THROUGH SOCIAL MEDIA. -COORDINATED AND PROMOTED ASSET DEVELOPMENT PRACTICE AND POLICY IN MASSACHUSETTS, AT THE COMMUNITY, SATE, AND NATIONAL LEVELS, BY EDUCATING POLICYMAKERS AND THE GENERAL PUBLIC ON POLICIES THAT PROMOTE OPPORTUNITIES FOR WEALTH-BUILDING AMONG LOW-INCOME PEOPLE, HOSTING RELEVANT TRAININGS AND CONVENING'S, AND PROVIDING RESOURCES TO PUBLIC AGENCIES, PHILANTHROPIES, LEGISLATORS, PARTNERS, AND OTHER KEY STAKEHOLDERS. 177355 true true false true false false false false false false true false false true true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 5 0 true 4 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 MICHELLE MEISER 0.75 X X 0 0 0 VERNETTE ALLEN 0.50 X X 0 0 0 JACQUELINE COOPER 0.50 X X 0 0 0 HILARY SMITH 0.50 X 0 0 0 BLAIR BENJAMIN 0.50 X 0 0 0 SALONI BOWRY 0.50 X 0 0 0 ANNERY BUTTEN 0.50 X 0 0 0 SHAUNTELL FOSTER 0.50 X 0 0 0 MARISSA GUANANJA 0.50 X 0 0 0 ERIN O'BRIEN 0.50 X 0 0 0 false false false 8620 90976 190300 289896 OTHER FEES 2493 2493 2493 3642 8620 6052 -2410 -2410 289979 2493 -2410 250 250 63576 41325 12715 9536 66558 64651 1907 10992 9127 1129 736 11006 8998 1215 793 6034 6034 41770 29249 12521 15586 13745 1116 725 10000 8400 900 700 1086 974 82 30 513 513 123 123 227494 177355 37619 12520 57634 124956 79000 27727 13280 31826 1250 542 1230 123 1107 526623 994189 677787 1180347 49382 12860 5774 5757 585280 1061894 640436 1080511 X 8502 10737 28849 89099 37351 99836 677787 1180347 62485 X false true true X false X 192634 207953 249321 284994 934902 192634 207953 249321 284994 934902 213090 721812 3857 1723 5580 3642 3642 944124 2493 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false 3379 3379 224115 227494 45499 11375 false 40326 39095 54881 45499 179801 269702 2509 1322 1147 3379 8357 10082 9774 13720 11375 44951 67427 false false false false false false false false false false false false false false false false false false false false false false false false 1230 123 1107 1107 FUNDS HELD FOR OTHERS 994189 994189 FUNDS HELD FOR OTHERS 994189 ACCOUNTS PAYABLE TO RELATED PARTY 67705 1061894 289979 227494 62485 62485 289979 289979 289979 227494 227494 227494 ORGANIZATION'S MISSION 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. FIRST ACCOMPLISHMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4A -CO-HOSTED A STATEWIDE WEBINAR FOR LEADERS IN MASSACHUSETTS GATEWAY CITIES "NEW MUNICIPAL STRATEGIES FOR ECONOMIC DEVELOPMENT THROUGH ASSET BUILDING AND FINANCIAL EMPOWERMENT." -CONDUCTED RESEARCH FOR THE UNITED WAY OF PIONEER VALLEY IN A REPORT AND PRESENTATION ENTITLED "ENHANCING STABILITY IN HAMPDEN COUNTY" WITH LOCAL DATA, NATIONAL MODELS, AND SPECIFIC RECOMMENDATIONS FOR FINANCIAL STABILITY STRATEGIES FOR THE SPRINGFIELD/HOLYOKE AREA. -HOSTED STATEWIDE MEMBER TRAININGS FOR DIRECT SERVICE PROVIDERS: OFINANCIAL COACHING METHODS - INCREASING THE MOTIVATION AND SUCCESS OF CLIENTS (55 TRAINED, TO SERVE AN ESTIMATED 6300 CLIENTS) OUNDERSTANDING PROPRIETARY SCHOOLS: CONSUMER EDUCATION (35 TRAINED, SERVING ~1200 CLIENTS) OTHE ARRIVAL OF DEBT SETTLEMENT COMPANIES - CONSUMER EDUCATION (35 TRAINED, SERVING ~1200 CLIENTS) -EXPANDED THE MASSACHUSETTS FINANCIAL EDUCATION COLLABORATIVE WITH A GROUP OF PUBLIC/PRIVATE PARTNERS - AN EFFORT TO BUILD AN EFFICIENT, COLLABORATIVE SYSTEM FOR COORDINATING AND EXPANDING FINANCIAL EDUCATION DELIVERY IN THE STATE, IN THE SUMMIT ON FINANCIAL EDUCATION IN OCTOBER, THE MFEC HOSTED 140 STAKEHOLDERS TO SHARE IDEAS AND RESOURCES. THE GOVERNOR PROCLAIMED OCTOBER TO BE FINANCIAL EDUCATION MONTH, AND THE FILM "FACES OF FINANCIAL EDUCATION" WAS PREMIERED. -OPENED THE FIRST CENTRALIZED OFFICE OF FINANCIAL EDUCATION IN MASSACHUSETTS, WITH SUPPORT FROM MFEC PARTNERS AND FUNDERS. A NEW DIRECTOR WAS HIRED BY MIDAS TO MANAGE THE STATEWIDE COORDINATION OF FINANCIAL EDUCATION. SEE MIDAS'S MASSSAVES.ORG WEBSITE FOR MORE DETAILS, ON-LINE RESOURCES, LOCAL TRAINERS, AND CONNECTIONS THROUGH SOCIAL MEDIA. -COORDINATED AND PROMOTED ASSET DEVELOPMENT PRACTICE AND POLICY IN MASSACHUSETTS, AT THE COMMUNITY, SATE, AND NATIONAL LEVELS, BY EDUCATING POLICYMAKERS AND THE GENERAL PUBLIC ON POLICIES THAT PROMOTE OPPORTUNITIES FOR WEALTH-BUILDING AMONG LOW-INCOME PEOPLE, HOSTING RELEVANT TRAININGS AND CONVENING'S, AND PROVIDING RESOURCES TO PUBLIC AGENCIES, PHILANTHROPIES, LEGISLATORS, PARTNERS, AND OTHER KEY STAKEHOLDERS. MANAGEMENT DELEGATED 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. ELECTION OF MEMBERS AND THEIR RIGHTS 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. DECISIONS SUBJECT TO APPROVAL OF MEMBERS 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. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 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. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS PROVIDED UPON WRITTEN REQUEST. ORGANIZATION FIRST LOBBYING ACTIVITY IN 2008.