Madison Park Economic Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 770,146 | 866,659 | −96,513 | 2.5 | 0% |
| 2021 | 1,378,057 | 1,561,912 | −183,855 | -1.2 | 0% |
| 2022 | 1,464,155 | 1,598,956 | −134,801 | -2.2 | 0% |
| 2023 | 1,264,621 | 1,554,955 | −290,334 | -2.4 | 0% |
In its most recent public year (2023), this organization spent $290,334 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-2.4 months), down from 2.5 in 2020. Staff pay was 0% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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