Allston Brighton Community Development Corporation

What it reported doing in 2024

Housing development and management and resident services.in march, acquired a historic building in brighton center consisting of 33 apartment units and 7,500 square feet of commercial space. Acquisition funding was provided by the city of boston and cedac. The property will be rehabilitated and converted to affordable rental housing. In july, began construction on the deep energy retrofit of a 20-unit property, switching to all electric heating, cooling and domestic hot water. This project is funded by a green financing loan from Massachusetts housing partnership, $2.6 million in state and city funds, private grants, and the preliminary approval in 2024 of $330,000 in utility incentives from the low-income energy assistance network (lean). This rehab is projected to reduce energy usage by 70%. In november, completed the deep energy retrofit of a 33-unit property. This rehab was primarily funded by 4% low income housing tax credits (lihtc) and $4 million in public funds. Secured a $2 million grant from the department of energy resources to decarbonize a 50-unit property. Pending the receipt of additional public and private funds, this project will commence in fall 2025. Awarded 49 project-based vouchers (pbvs) from the boston housing authority that will be used at the future development of 49 units of affordable rental apartments for older adults at a site acquired in late 2023. A small project review application was submitted to the city of boston in august. This new construction project is anticipated to start in 2026.provided services for residents in 506 units of rental housing, with a mixture of virtual and in-person programming. Met with residents for 487 unique meetings on a range of topics, including housing stability, financial assistance, supportive services and administrative support. Assisted 52 residents with rental and utility assistance applications, receiving approval for $136,285 to help prevent displacement and support economic recovery. Produced and distributed a bi-monthly newsletter to 506 households to keep them informed about resources, events and support available through the program and in the neighborhood. Held bi-monthly mobile food pantries at 2 property sites in partnership with abcd, providing 306 bags of food. Continued an after-school program for 13 youth with 13 tutors from boston college providing academic support. Launched a partnership with boston university's anatomy academy, providing youth with interactive science learning experiences. Distributed backpacks and school supplies to 115 youth at the start of the academic year. Hosted a community vaccination clinic and continued distributing covid test kits and masks throughout the year to support residents' health and safety. Delivered 54 resident programs in collaboration with local partners. Partnered with masshousing's tap program to enhance resident engagement and access to resources. Collaborated with the eliot school of fine and applied arts to run adult ceramics workshops, offering creative outlets for expression and healing. Introduced a mediation and art series, helping residents explore conflict resolution through art-based practices. Facilitated a mass bioed workshop to promote stem engagement and career exploration. Hosted an alzheimer's awareness workshop to support caregivers and raise awareness of memory care resources. Offered zumba and yoga wellness classes to promote physical activity and mental health. Celebrated the seasons with themed events including the annual block party, haunted hallway, and, in partnership with abcd, turkey distribution. During the december holidays, distributed toys for 129 children in partnership with toys for tots. In total, 642 residents attended our resident programs.

Financial Efficiency

• Mission deployment rate: 76.6%; rating input score 77
• Program expense ratio: 93.8%; rating input score 94
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• 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 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 18.8%; rating input score 75; 75th percentile among comparable filings
• Total-asset coverage ratio: 9.26; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
• Officer compensation ratio: 9%; rating input score 33; 33rd percentile among comparable filings

Growth

• Program expense growth: 15.9% per year; rating input score 100; 79th percentile among comparable filings
• Revenue growth: 10.4% per year; rating input score 100; 70th percentile among comparable filings
• Asset growth: 20.8% per year; rating input score 100; 85th percentile among comparable filings