philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

The Midas Collaborative INC FY2022 filing

Tax-deductible

Boston, MA501(c)(3)Since 2007Education EIN 83-0485169Revenue $628K in FY2022

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)

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

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.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.2 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
$633K
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$628K
+181% vs prior year
Spent
$450K
To programs
89%
Net assets
$370K
By yearFY2020–FY2025
Revenue
$628K
FY2022▲ +181%
Tap a bar for its year
Revenue by fiscal year
FY2020$223K
FY2022$628K
FY2023$478K
FY2024$636K
FY2025$686K
Expenses
$450K
FY2022▲ +158%
Tap a bar for its year
Expenses by fiscal year
FY2020$175K
FY2022$450K
FY2023$515K
FY2024$581K
FY2025$510K
Net assets
$370K
FY2022▲ +116%
Tap a bar for its year
Net assets by fiscal year
FY2020$172K
FY2022$370K
FY2023$457K
FY2024$512K
FY2025$688K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2022 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

89 cents of each dollar spent went to programs.

Program services 89% · $398K Management & general 11% · $48K Fundraising 1% · $3K

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

Something off? Claim to add context

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Selom Azuma
Director
$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 →

On this list? Claim this org

Something off? Claim to add context

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.

Questions for The Midas Collaborative INC

Tap to ask. The Midas Collaborative INC sees how many people are interested.

Your first name shows with your question. The Midas Collaborative INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

2 programs · $398K · in their own filed words · FY2022
01

Building Savings and Investment

Midas operates multiple matched savings programs in partnership with member community organizations across massachusetts. 9 partner sites enrolled 574 participants who attended workshops and counseling sessions to build their financial skills and capabilities.

$325Kprogram expense
02

Delivering Financial Education and Policy

Midas provided training 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 initative, and to educators and policy makers at the annual financial education summit training.

$73Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$628K
Ln 12
Gifts and grantsLn 1h$468K
Fees for servicesLn 2g$153K
Other incomeLn 4–11$7K
Money outPt IX
$450K
Ln 25
Programscol B$398K
Managementcol C$48K
Fundraisingcol D$3K
Owns and owesPt X
$370K
net assets · Ln 32
Cash and savingsLn 1–2$384K
Total assetsLn 16$1.0M
LiabilitiesLn 26$633K
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$468K
Government grantsLn 1e$347K
Fees for servicesLn 2g$153K
Investment incomeLn 3$58
Other incomeLn 4–11$7K
Total revenueLn 12$628K
Assets in detailPt X, end of year
CashLn 1$192K
SavingsLn 2$191K
Cash and savings togetherLn 1–2$384K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$499K
Total assetsLn 16$1.0M
LiabilitiesLn 26$633K
Net assetsLn 32$370K
OperationsPt I, VI
EmployeesI 55
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$408K$384K
Land, buildings, equipmentLn 10c$2K$1K
Total assetsLn 16$673K$1.0M
LiabilitiesLn 26$481K$633K
Net assetsLn 32$192K$370K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$97K$82K$14K$970
Other salaries and wagesLn 7$107K$91K$15K$1K
Other employee benefitsLn 9$7K$6K$1K$74
Payroll taxesLn 10$24K$20K$3K$236
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$51K$44K$7K$515
Advertising and promotionLn 12$290$247$40$3
OccupancyLn 16$1K$1K$168$12
TravelLn 17$38$38
Depreciation, depletion and amortizationLn 22$1K$867$143$10
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$153K$153K$566$40
Total functional expensesLn 25$450K$398K$48K$3K

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 Viewing $628K$450K$178K$370K 990 PDF
FY2021 Not on file
FY2020 $223K$175K$49K$172K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $627,524 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $126,516$467,695
I-9 Program service revenuePrior year $110,689$152,653
I-10 Investment incomePrior year $119$58
I-11 Other revenue$7,118
I-12 Total revenuePrior year $237,324$627,524
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $162,559$235,057
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $54,284$214,739
I-18 Total expensesPrior year $216,843$449,796
I-19 Revenue less expensesPrior year $20,481$177,728
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $627,524 across 9 lines filed
VIII-1a Federated campaigns$8,433
VIII-1b Membership dues$1,864
VIII-1e Government grants$346,991
VIII-1f All other contributions, gifts and grants$110,407
VIII-1h Total contributions, gifts and grants$467,695
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $152,653$152,653
VIII-3 Investment incomeExcluded from tax $58$58
VIII-8 Net income from fundraising events$7,118
VIII-12 Total revenueRelated to mission $152,653 · Excluded from tax $58$627,524
Part IX · Statement of functional expenses $449,796 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $82,430 · Management $13,577 · Fundraising $970$96,977
IX-7 Other salaries and wagesPrograms $91,045 · Management $14,995 · Fundraising $1,072$107,112
IX-9 Other employee benefitsPrograms $6,277 · Management $1,034 · Fundraising $74$7,385
IX-10 Payroll taxesPrograms $20,046 · Management $3,301 · Fundraising $236$23,583
IX-11c Accounting feesManagement $5,000$5,000
IX-11g Other fees for servicesPrograms $43,703 · Management $7,198 · Fundraising $515$51,416
IX-12 Advertising and promotionPrograms $247 · Management $40 · Fundraising $3$290
IX-16 OccupancyPrograms $1,020 · Management $168 · Fundraising $12$1,200
IX-17 TravelPrograms $38$38
IX-22 Depreciation, depletion and amortizationPrograms $867 · Management $143 · Fundraising $10$1,020
IX-23 InsuranceManagement $2,358$2,358
IX-24 Other expenses (24a–d)Programs $152,811 · Management $566 · Fundraising $40$153,417
IX-25 Total functional expensesPrograms $398,484 · Management $48,380 · Fundraising $2,932$449,796
Part X · Balance sheet $1,003,033 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $407,626$192,488
X-2 Savings and temporary cash investments$191,021
X-3 Pledges and grants receivableStart of year $13,950$67,700
X-4 Accounts receivableStart of year $64,868$46,509
X-9 Prepaid expenses and deferred chargesStart of year $4,704$5,540
X-10c Land, buildings and equipment, netStart of year $2,294$1,274
X-15 Other assetsStart of year $179,571$498,501
X-16 Total assetsStart of year $673,013$1,003,033
X-17 Accounts payable and accrued expensesStart of year $158,310$114,493
X-25 Other liabilitiesStart of year $219,848$518,778
X-26 Total liabilitiesStart of year $480,979$633,271
X-27 Net assets without donor restrictionsStart of year $184,463$369,762
X-32 Total net assets or fund balancesStart of year $192,034$369,762
X-33 Total liabilities and net assetsStart of year $673,013$1,003,033
Part XI · Reconciliation of net assets $369,762 net assets at year end
XI-1 Total revenue$627,524
XI-2 Total expenses$449,796
XI-3 Revenue less expenses$177,728
XI-4 Net assets at start of year$192,034
XI-10 Net assets at end of year$369,762

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.