Boston Square Hwec

Nonprofit profile at a glance

EIN
921388874
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Grand Rapids, MI, USA
Phone
6162793936
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$181,880
Expenses
$63,560
Assets
$31,514,891
Liabilities
$29,474,352

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

Leadership & pay

6 people listed

People named in this filing

  • JAMES JONES (DIRECTOR & CHAIRPERSON)
  • KENYATTA BRAME (DIRECTOR & VICE-CHAIR)
  • ANDREA OWENS (DIRECTOR & SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Boston square hwec was formed as a supporting organization to amplify gr. It is organized and operated at all times exclusively to carry out the purposes of agr with a shared mission of widening pathways in economic mobility, mixed-income housing, education, and health and well-being so that all neighbors can participate in and benefit from community growth. Boston square hwec has a fundamental role in developing and operating a community hub to advance an equity-focused vision for boston square that incorporates health, education, arts and culture, recreation, and technology. The concept was established during a neighbor-led planning process called boston square together.

What it reported doing in 2024

Boston square hwec has supported the beginning of construction on the 45,000-square-foot boston square community hub in february 2023. This includes alignment and commitment of partners in early childhood education, healthcare, fitness, afterschool programming, and enrichment.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 23
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 14.9%; rating input score 15
  • Program expense ratio: 42.8%; rating input score 43
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 65.1%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 495.83; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 114.1% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 11.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 75.4% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 14.9% of revenue deployed · 42.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $27K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • High — Financial Efficiency: Mission deployment rate scored 15/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 43/100.
  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.