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The Midas Collaborative INC FY2020 filing

Tax-deductible

Boston, MA501(c)(3)Since 2007Education EIN 83-0485169Revenue $223K in FY2020

On file with the IRSmidascollab.org77 Franklin St FL 9, 02110-1510 · Boston, MATax-exempt since Mar 2008Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
62¢ of each $1 spent went to programs.
$50K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $84K a year · 16% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
62%
of spending
Worth a look: 62% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$50K
to officers and key staff · 28% of spending
Worth a look: pay to officers and key staff is 28% of spending; over 20%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 12.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $230K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$496K
74% of total assets
Worth a look: liabilities are 74% of assets; over 65%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$223K
Spent
$175K
To programs
62%
Net assets
$172K
By yearFY2020–FY2025
Revenue
$223K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$223K
FY2022$628K
FY2023$478K
FY2024$636K
FY2025$686K
Expenses
$175K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$175K
FY2022$450K
FY2023$515K
FY2024$581K
FY2025$510K
Net assets
$172K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$172K
FY2022$370K
FY2023$457K
FY2024$512K
FY2025$688K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

62 cents of each dollar spent went to programs.

Program services 62% · $108K Management & general 30% · $53K Fundraising 8% · $14K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990; $50K paid to officers and key staff.

Part VII, Section A · reportable compensation
Kimberly Hirsh
Executive Director
$49,615Pt VII · Sec A
$0Pt VII · Sec A
Tom Keydel
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Rose Francois’s $130K as Executive Director is at the 93rd percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2020
Rose Francois$130,389———
Molly Goodman—$36,911$94,021—
Kimberly Hirsh———$49,615
Karen Burg$42,987———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Midas Collaborative INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Improves financial security for low- and moderate-income Massachusetts residents.

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Provided by the organization

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2 programs · $108K · in their own filed words · FY2020
01

Delivering Financial Education and Policy

Midas provided trainings to staff from member community organizations across the state that serve low and moderate income residents, to volunteers and members of the public who participate in midas' masssaves initiative, and to educators and policymakers at our annual financial education summit.

$63Kprogram expense
02

Building Savings and Investment

Midas operates multiple matched savings programs in partnership with member community organizations across massachusetts. In 2020, 7 partner sites enrolled 214 participants who attended workshops and counseling sessions to build their financial skills and capability.

$45Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Massachusetts Museum of Contemporary Art Foundation INCFY2024$120K
United Way of Massachusetts Bay INCFY2024$100K
Needham Bank Charitable Foundation INCFY2024$5K
Berkshire Bank Foundation INCFY2024$2K
Bertram D Blaisdell Ins TrFY2024$2K
Total grants receivedfrom 5 funders$230K
See all 5 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$223K
Ln 12
Gifts and grantsLn 1h$117K
Fees for servicesLn 2g$106K
Investment incomeLn 3$362
Money outPt IX
$175K
Ln 25
Programscol B$108K
Managementcol C$53K
Fundraisingcol D$14K
Owns and owesPt X
$172K
net assets · Ln 32
Cash and savingsLn 1–2$181K
Total assetsLn 16$667K
LiabilitiesLn 26$496K
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$117K
Government grantsLn 1e$9K
Fees for servicesLn 2g$106K
Investment incomeLn 3$362
Total revenueLn 12$223K
Assets in detailPt X, end of year
CashLn 1$181K
Cash and savings togetherLn 1–2$181K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$407K
Total assetsLn 16$667K
LiabilitiesLn 26$496K
Net assetsLn 32$172K
OperationsPt I, VI
EmployeesI 55
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$166K$181K
Land, buildings, equipmentLn 10c$96$0
Total assetsLn 16$971K$667K
LiabilitiesLn 26$848K$496K
Net assetsLn 32$123K$172K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$58K$15K$32K$12K
Other salaries and wagesLn 7$52K$52K
Other employee benefitsLn 9$211$211
Payroll taxesLn 10$14K$10K$3K$1K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$14K$9K$5K
Office expensesLn 13$912$545$149$218
Information technologyLn 14$3K$2K$69$27
OccupancyLn 16$8K$6K$1K$535
TravelLn 17$27$27
InterestLn 20$155$155
Depreciation, depletion and amortizationLn 22$96$72$17$7
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$13K$13K$160$13
Total functional expensesLn 25$175K$108K$53K$14K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $686K$510K$176K$688K 990 PDF
FY2024 $636K$581K$55K$512K 990 PDF
FY2023 $478K$515K−$38K$457K 990 PDF
FY2022 $628K$450K$178K$370K 990 PDF
FY2021 Not on file
FY2020 Viewing $223K$175K$49K$172K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $223,429 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $87,963$117,228
I-9 Program service revenuePrior year $87,481$105,839
I-10 Investment incomePrior year $487$362
I-11 Other revenuePrior year −$211$0
I-12 Total revenuePrior year $175,720$223,429
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $122,645$124,545
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $61,772$50,046
I-18 Total expensesPrior year $184,417$174,591
I-19 Revenue less expensesPrior year −$8,697$48,838
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $223,429 across 8 lines filed
VIII-1a Federated campaigns$9,600
VIII-1b Membership dues$3,041
VIII-1e Government grants$8,634
VIII-1f All other contributions, gifts and grants$95,953
VIII-1h Total contributions, gifts and grants$117,228
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $105,839$105,839
VIII-3 Investment incomeExcluded from tax $362$362
VIII-12 Total revenueRelated to mission $105,839 · Unrelated business $0 · Excluded from tax $362$223,429
Part IX · Statement of functional expenses $174,591 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $14,559 · Management $32,030 · Fundraising $11,647$58,236
IX-7 Other salaries and wagesPrograms $52,219$52,219
IX-9 Other employee benefitsPrograms $211$211
IX-10 Payroll taxesPrograms $10,043 · Management $2,686 · Fundraising $1,150$13,879
IX-11c Accounting feesManagement $8,733$8,733
IX-11g Other fees for servicesPrograms $9,153 · Management $5,311$14,464
IX-13 Office expensesPrograms $545 · Management $149 · Fundraising $218$912
IX-14 Information technologyPrograms $2,449 · Management $69 · Fundraising $27$2,545
IX-16 OccupancyPrograms $5,738 · Management $1,377 · Fundraising $535$7,650
IX-17 TravelPrograms $27$27
IX-20 InterestManagement $155$155
IX-22 Depreciation, depletion and amortizationPrograms $72 · Management $17 · Fundraising $7$96
IX-23 InsuranceManagement $2,237$2,237
IX-24 Other expenses (24a–d)Programs $13,054 · Management $160 · Fundraising $13$13,227
IX-25 Total functional expensesPrograms $108,070 · Management $52,924 · Fundraising $13,597$174,591
Part X · Balance sheet $667,319 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $166,163$181,067
X-3 Pledges and grants receivable$25,000
X-4 Accounts receivableStart of year $32,943$48,261
X-9 Prepaid expenses and deferred chargesStart of year $5,363$5,537
X-10c Land, buildings and equipment, netStart of year $96$0
X-15 Other assetsStart of year $766,091$407,454
X-16 Total assetsStart of year $970,656$667,319
X-17 Accounts payable and accrued expensesStart of year $27,219$11,758
X-19 Deferred revenueStart of year $14,544$12,450
X-25 Other liabilitiesStart of year $806,178$471,558
X-26 Total liabilitiesStart of year $847,941$495,766
X-27 Net assets without donor restrictionsStart of year $122,715$146,482
X-28 Net assets with donor restrictions$25,071
X-32 Total net assets or fund balancesStart of year $122,715$171,553
X-33 Total liabilities and net assetsStart of year $970,656$667,319
Part XI · Reconciliation of net assets $171,553 net assets at year end
XI-1 Total revenue$223,429
XI-2 Total expenses$174,591
XI-3 Revenue less expenses$48,838
XI-4 Net assets at start of year$122,715
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$171,553

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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