Center Redevelopment Corporation

Overview

Mission

To promote the educational purposes of the trustees of mount holyoke college, a non-profit institution for higher education, by providing funds and services as well as by acquiring and holding real and personal property for the benefit of the trustees of mount holyoke college and such organizations affiliated therewith.

What it reported doing in 2024

Provide funds and services as well as acquire and hold real and personal property for the benefit of the trustees of mount holyoke college (EIN: 04-2103578), a 501(c)(3) exempt organization.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
042939950
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Headquarters
South Hadley, MA, USA
Phone
4135323600
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonprofit Management

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 71
  • Accountability: 94
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.7%; rating input score 80
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 22nd 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: -2%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 2; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 14.4%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 79.7% of revenue deployed · 78.1% of spending went to programs
  • Governance: 8 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $176K · 10 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $107K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 8 annual filings from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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

  • JEFFREY LABRECQUE (COO THRU 3/2025 THEN CEO): $176,156 total reported compensation
  • JAMES F CAREY (CEO / DIRECTOR (END 3/2025)): $74,660 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.