Civic Intelligence

Madrone Community Development Foundation

990 • Fiscal year 2024 • EIN 87-4391708

Jan 01, 2024 to Dec 31, 2024 • Filed on May 30, 2025

Organization ProfileWWW.MADRONECDF.ORG
2081 Center StBerkeley, CA 94704

(214) 476-6779

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

100th percentile

1502.37x

Higher debt load relative to revenue than 100% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

1st percentile

-121%

Higher net margin than 1% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

7th percentile

$33,750

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 70.2% of source-year revenue.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

$72,133,423

No earlier filing loaded for comparison.

Net Assets

-$61,401

No earlier filing loaded for comparison.

Liabilities

$72,194,824

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$48,054

No earlier filing loaded for comparison.

Expenses

$106,090

No earlier filing loaded for comparison.

Net Income

-$58,036

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0-$20MAssets 2024: $72,133,423Liabilities 2024: $72,194,824Net Assets 2024: -$61,4012024

Highlighted filing

2024

Assets$72,133,423
Liabilities$72,194,824
Net Assets-$61,401
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150K$100K$50K$0-$50K-$100KRevenue 2024: $48,054Expenses 2024: $106,090Net Income 2024: -$58,0362024

Highlighted filing

2024

Revenue$48,054
Expenses$106,090
Net Income-$58,036
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 30, 2025
Return Version
2024v5.1
Gross Receipts
$48,054
Mission and Program Overview

Mission

To lessen the burdens of government by assisting local governments, public agencies, schools, community colleges, colleges and universities in acquiring, developing and constructing facilities, including educational, community, infrastructure and housing facilities. Madrone was also formed to assist governments in meeting the restoration and planting goals for parks, forests, and streets.

Assisting with the development and construction of student and workforce housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$63,162,008-
Land, Buildings, and Equipment, Net$0$8,540,237▲ $8,540,237
Cash and Non-Interest-Bearing Accounts-$57,173-
Accounts Receivable-$48,000-
Prepaid Expenses and Deferred Charges-$14,111-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-3,365$-61,401▼ $58,036
Total Assets$0$72,133,423▲ $72,133,423
Other Assets Total$0$311,894▲ $311,894
Liabilities
Tax Exempt Bond Liabilities-$70,870,000-
Accounts Payable and Accrued Expenses$3,365$1,031,900▲ $1,028,535
Other Liabilities$0$292,924▲ $292,924
Total Liabilities$3,365$72,194,824▲ $72,191,459
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,365$-61,401▼ $58,036
Total Liabilities and Net Assets / Fund Balance$0$72,133,423▲ $72,133,423

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,537,584-$8,537,584
Other Land Buildings$2,653$45$2,698
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Richard N WaughPresidentFT$33,750$33,750
Blair TavennerChief Operating OfficerFT$22,500$22,500

Board Members and Trustees

NameTitle
Sundee WislowBoard Member
Thomas HigginsBoard Member
Pria HidisyanSecretary
Zachary HeinemanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Annex Construction Of Memphis LLCConstruction409 MASSACHUSETTS AVE SUITE 300, Indianapolis, IN 46204$7,506,791
Revenue and Support

Revenue Composition

Contributions and Grants
$50
Program Service Revenue
$48,000
Investment Income
$4
Other Revenue
$0
All Other Contributions
$50
Change in Net Assets
$-58,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$61,323
Other Expenses$44,767
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$50,625$5,625-$56,250
Interest$22,221--$22,221
Conferences and Meetings$6,331--$6,331
Payroll Taxes$4,566$507-$5,073
Fees for Services Accounting-$4,670-$4,670
Occupancy$938$3,020-$3,958
Office Expenses-$2,856-$2,856
Insurance-$1,672-$1,672
Travel$679--$679
Fees for Services Other-$475-$475
Other Expenses-$148-$148
Advertising$50--$50
Depreciation Depletion-$45-$45
Total Functional Expenses$85,410$20,680$0$106,090
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Taxable Bonds$2,150,000
Other Liabilities$4,500
Bond Premium/discount$-122,807
Bond Issuance Costs$-1,738,769

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe Health Educational and Housing Facility Board of the County of Shelby2024-08-12$71,293,377Student housing revenue bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$71,293,377--$1,425,868

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“The articles of incorporation were amended to state that the organization will not engage in lobbying, allow for compensation of directors, and allow board member terms to be staggered and extended to 3 year terms. The purpose of the organization was also updated to include: activities for private charitable organizations in the provision of administrative facilities, educational facilities and housing for their workforce and students; assisting state and local governements in meeting the restoration and planting goals for parks, forests and streets.”

Form 990, Part VI, Section B, Line 11B

“The board will review the 990 prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors considering the proposed transaction or arrangement. The interested with a potential conflict must recuse themselves from voting on decisions from which they may benefit personally.”

Form 990, Part VI, Section B, Line 15A

“Officer compensation is determined based on comparability data and approved by the board.”

Form 990, Part VI, Section C, Line 19

“All required documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Madrone Community Development Foundation
EIN
87-4391708
Phone
2144766779
Address
2081 CENTER ST, BERKELEY, CA 94704

Signing Officer

Name
Richard N Waugh
Title
President
Phone
2144766779
Signed
2025-05-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard N Waugh
Formed
2021
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
4
Employees
2
Volunteers
4

Preparer

Firm
Avenson Hamann Cpas Llp
Address
7421 BURNET ROAD 522, AUSTIN, TX 78757
Preparer
Catherine Avenson
Phone
5126939131
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt048050
IRS990ScheduleA/Total509Grp/TotalAmt048050
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt048054
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt048054
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt08537584
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08537584
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02653
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt045
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02698
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-1738769
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22150000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3-122807
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1BOND ISSUANCE COSTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TAXABLE BONDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3BOND PREMIUM/DISCOUNT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08540237
IRS990ScheduleD/TotalLiabilityAmt0292924
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02024-08-12
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0521283414
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum082170LAB1
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt071293377
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0THE HEALTH EDUCATIONAL AND HOUSING FACILITY BOARD OF THE COUNTY OF SHELBY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0STUDENT HOUSING REVENUE BONDS
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt08537584
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt05239563
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt01425868
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt071293377
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ARTICLES OF INCORPORATION WERE AMENDED TO STATE THAT THE ORGANIZATION WILL NOT ENGAGE IN LOBBYING, ALLOW FOR COMPENSATION OF DIRECTORS, AND ALLOW BOARD MEMBER TERMS TO BE STAGGERED AND EXTENDED TO 3 YEAR TERMS. THE PURPOSE OF THE ORGANIZATION WAS ALSO UPDATED TO INCLUDE: ACTIVITIES FOR PRIVATE CHARITABLE ORGANIZATIONS IN THE PROVISION OF ADMINISTRATIVE FACILITIES, EDUCATIONAL FACILITIES AND HOUSING FOR THEIR WORKFORCE AND STUDENTS; ASSISTING STATE AND LOCAL GOVERNEMENTS IN MEETING THE RESTORATION AND PLANTING GOALS FOR PARKS, FORESTS AND STREETS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD WILL REVIEW THE 990 PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. THE INTERESTED WITH A POTENTIAL CONFLICT MUST RECUSE THEMSELVES FROM VOTING ON DECISIONS FROM WHICH THEY MAY BENEFIT PERSONALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICER COMPENSATION IS DETERMINED BASED ON COMPARABILITY DATA AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL REQUIRED DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0MADRONE COMMUNITY DEVELOPMENT FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1MADRONE COMMUNITY DEVELOPMENT FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0MADRONE MEMPHIS STUDENT HOUSING I LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1MADRONE - FLORIDA TECH STUDENT HOUSING I LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0993402029
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1331482486
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt072034738
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1FL
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0CONSTRUCTION AND LEASING ACTIVITIES
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1CONSTRUCTION AND LEASING ACTIVITIES
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt025
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt02081 CENTER ST
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt12081 CENTER ST
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BERKELEY
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1BERKELEY
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd094704
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd194704
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd01
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0155000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MADRONE MEMPHIS STUDENT HOUSING I LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0L
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt070870000
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt072133423
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt072133423
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt050
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020680
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt085410
IRS990/TotalFunctionalExpensesGrp/TotalAmt0106090
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03365
IRS990/TotalLiabilitiesEOYAmt072194824
IRS990/TotalLiabilitiesGrp/BOYAmt03365

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$72,133,423
Liabilities
$72,194,824
Net assets
-$61,401
Revenue
$48,054
Expenses
$106,090
Net income
-$58,036
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$72.1$72.2$0.06$0.05$0.11$0.06