2011-11-08T12:19:49-06:00 2010-12-31 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2010-01-01 237011408 LOWER ROXBURY COMMUNITY CORPORATION LOWE 6175413900 184 DUDLEY STREET ROXBURY MA 02119 JEANNE PINADO 6175413900 2011-11-03 1 KRISTIN LABONTE 7813803520 2011-10-25 2010 2016-03-07 17:11:31Z JEANNE PINADO 184 DUDLEY STREET ROXBURY MA 02119 1041537 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 GENERALLY TO WORK FOR THE REVITALIZATION OF THE COMMUNITY. 11 10 0 0 0 0 0 0 1056198 1020170 8095 6079 14011 15288 1078304 1041537 18000 13000 0 0 71533 65327 0 0 0 1172058 1170619 1261591 1248946 -183287 -207409 12099896 12049379 9140930 9297822 2958966 2751557 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 HOME OWNERSHIP, BUSINESS DEVELOPMENT OR EDUCATION. 0 0 1248946 13000 1035458 TO FURTHER THE INTEREST OF ALL OF THE RESIDENTS IN THE AREA KNOWN AS LOWER ROXBURY IN MATTERS OF HOUSING, EDUCATION, RECREATION AND GENERALLY TO WORK FOR THE REVITALIZATION OF THE COMMUNITY. 1248946 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 4 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X GAYLE HARROLD 6178496224 184 DUDLEY STREET ROXBURY MA 02119 X JEANNE M PINADO 1.00 X X 0 167000 9699 ELMER FREEMAN 1.00 X X 0 0 0 DARYL RICHARDSON 1.00 X X 0 0 0 BROOKE E WOODSON 1.00 X X 0 0 0 IVELISE RIVERA 1.00 X X 0 0 0 MALIK AZIZ 1.00 X 0 0 0 CAROL POPE 1.00 X 0 0 0 MAE BURGESS 1.00 X 0 0 0 MARION CUNNINGHAM 1.00 X 0 0 0 REVEREND WILLIAM WATKINS SR 1.00 X 0 0 0 MARITZA DECAMPOS 1.00 X 0 0 0 JENNIFER HAWKINS 1.00 X 0 107616 2944 GAYLE HARROLD 1.00 X 0 82800 2574 0 357416 15217 0 0 1 0 0 RENTAL INCOME 531110 1020170 1020170 1020170 6079 6079 MISCELLANEOUS REVENUE 531390 15288 15288 15288 1041537 1035458 0 6079 13000 13000 52210 52210 8488 8488 4629 4629 51564 51564 1604 1604 10175 10175 10697 10697 895231 895231 186099 186099 AMORTIZATION 15249 15249 1248946 1248946 0 0 5537 17738 582676 323332 542420 766753 13090 8928 7795255 687205 7192400 7108050 120001 120001 3643772 3704577 12099896 12049379 124253 131603 7764277 7764277 1252400 1401942 9140930 9297822 X 2693840 2499431 265126 252126 2958966 2751557 12099896 12049379 -207409 0 X X 0 1 1 X 0 X 141 141 171968 759039 982843 1056198 1020170 3990218 172109 759039 982843 1056198 1020170 3990359 0 0 0 3990359 205444 18346 19546 8095 6079 257510 205444 18346 19546 8095 6079 257510 189 14011 15288 29488 377553 777385 1002578 1078304 1041537 4277357 0.93290 0.91500 0.06020 0.08070 X 1206000 1206000 6423995 639730 5784265 142308 43027 99281 22952 4448 18504 7108050 FINANCING FEES 169644 DUE FROM AFFILIATES 3534933 3704577 DUE TO AFFILIATED ENTITIES 1364656 OTHER CURRENT LIABILITIES 27037 OTHER LT LIABILITIES 10249 1401942 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE PROVISIONS OF U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES 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 CONSOLIDATING FINANCIAL STATEMENTS AS THE COMPANY BELIEVES THAT ITS CONSOLIDATING FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS. ALL TAX YEARS PRIOR TO 2007 ARE CLOSED AS A RESULT OF THE PASSING OF THE STATUTE OF LIMITATIONS. NO NOTICES HAVE BEEN RECEIVED FROM EITHER THE INTERNAL REVENUE SERVICE OR COMMONWEALTH OF MASSACHUSETTS ADDRESSING ANY SUBSEQUENT YEAR. 1 SCHOLARSHIPS 10 13000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE FUNDS ARE MONITORED BY THE BOARD REVIEW OF REPORTS PROVIDED BY THE ACCOUNTING DEPARTMENT. X X X 0 0 0 0 0 0 0 0 0 JEANNE M PINADO 0 145000 0 22000 0 0 0 5010 0 4689 0 176699 0 0 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 REVENUE. THE AGREEMENT IS IN EFFECT ON A YEAR-TO-YEAR BASIS. THE COMPANY INCURRED MANAGEMENT FEES OF $51,564 FOR THE YEAR ENDED DECEMBER 31, 2010. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED PRIOR TO ISSUANCE BY THE FINANCE COMMITTEE AND THEN BY SELECTED MEMBERS OF THE BOARD OF DIRECTORS. 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 THE 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 ACTIVITIES 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. AVERAGE HOURS PER WEEK WORKED FOR RELATED ORGANIZATION FORM 990, PART VII THE OFFICERS WORK THE FOLLOWING AVERAGE HOURS FOR MADISON PARK DEVELOPMENT CORPORATION: JEANNE PINADO: 40 HOURS JENNIFER HAWKINS: 40 HOURS GAYLE HARROLD: 30 HOURS FORM 990, PART XII, LINE 2C EXPLANATION: THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE METHODS USED BY THE COMMITTEE RESPONSIBLE FOR OVERSIGHT OF THE AUDIT, OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. 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