Haymarket People's Fund Inc

Overview

Mission

Haymarket people's fund is an anti-racist and multi-cultural foundation that is committed to strengthening the movement for social justice in new england. Through grantmaking, fundraising, and capacity building, we support grassroots organizations that address the root causes of injustice. Haymarket also organizes to increase sustainable community philanthropy throughout our region.

What it reported doing in 2024

The donor-advised grantmaking program: allows individuals and families to use the resources, knowledge, and grantmaking expertise of haymarket people's fund to direct their personal philanthropy. After decades of conducting this program, an assessment indicated it was not a mission fit as it relates to haymarket's focus. This account also provides a substantial contribution to the public donations. All supporters are encouraged to support haymarket's grant pool, where funding decisions are deeply vetted providing a greater regional impact.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
042586725
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Jamaica Plain, MA, USA
Phone
6175227676
Rating
82
Verdict
STRONG
Rating confidence
Moderate

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: $3.94 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.9%; rating input score 95; 30th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -24.1%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 4.57; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 17.6%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 9.2% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.2M in reported program spending
  • Leadership: top reported pay $192K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 125 filed money-flow records
  • Related organizations: 118 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

10 people listed

Highest reported compensation

  • KARLA NICHOLSON (EXECUTIVE DIRECTOR): $192,170 total reported compensation
  • JENNIFER DOWDELL (DEVELOPMENT DIRECTOR): $179,789 total reported compensation
  • JAIME SMITH HENRY (GRANTS DIRECTOR): $143,351 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.