Blackstone Housing Corporation Joseph D Early Village

Nonprofit profile at a glance

EIN
042685432
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Blackstone, MA, USA
Phone
5088839802
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$668,055
Expenses
$590,558
Assets
$2,565,905
Liabilities
$811,746

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ROBERT DRAINVILLE (PRESIDENT)
  • ALBERT POLSELLI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALBERT POLSELLI (EXECUTIVE DIRECTOR): $43,747 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide low income affordable housing for elderly and handicapped with section 8 assistance

Operating model

Revenue model
Earned-program. 98% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 83
  • Accountability: 79
  • Sustainability: 62
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.5%; rating input score 69
  • Program expense ratio: 77.7%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 11.6%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 4.34; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 7.4%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 68.5% of revenue deployed · 77.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $459K in reported program spending
  • Leadership: top reported pay $44K · 5 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.