Tlr Realty

Overview

Mission

TLR is organized for charitable purposes to provide physically and mentally impaired persons with low-income housing facilities and access to services which are specifically designed to meet their physical, social, and physiological needs.

What it reported doing in 2024

To provide low-income housing and access to support services to people with physical and psychological challenges. TLR has a total of 10 units located in a condominium complex at 1145 Hartford Avenue in Johnston, Rhode Island. The occupancy rate was 99% during the fiscal year covered in this return. The waiting list as of 6/30/25 consisted of 41 individuals. There were 29 vacant days among the 10 units during the fiscal year covered in this return.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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
043742771
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4016676502
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Mental Health Treatment F31 Psychiatric, Mental Health Hospital

Official website

Reported finances

Revenue
$162,494
Expenses
$168,982
Assets
$1,032,322
Liabilities
$1,182,779

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 65
  • Accountability: 88
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.7%; rating input score 77
  • Program expense ratio: 73.1%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -4%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 6.11; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 1.15; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 36.4%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 0.9% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 76.7% of revenue deployed · 73.1% of spending went to programs
  • Governance: 7 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $123K in reported program spending
  • Leadership: top reported pay $613K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 40 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.

Leadership & pay

9 people listed

Highest reported compensation

  • Henry Sachs III (President): $612,588 total reported compensation
  • Scott DiChristofero (Former Officer): $188,030 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.