City Square Elderly Housing Inc
Nonprofit profile at a glance
- EIN
- 042794776
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Warren, MI, USA
- Phone
- 5867539002
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $4,823,744
- Expenses
- $3,877,505
- Assets
- $11,609,797
- Liabilities
- $31,564,966
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- SHERYLE MOREY (PRESIDENT)
- MARY DALESSANDRO (VICE PRESIDENT)
- ANNIE MITCHELL (FORMER PRESIDENT)
- GLORIA PARRIS (FORMER VICE PRESIDENT)
Highest reported compensation
- ANNE SACKRISON (ASSISTANT SECRETARY): $368,043 total reported compensation
- MEL HUDSON (NATIONAL CONSTRUCTION MANAGER): $269,361 total reported compensation
- DIANE SMITH (NATIONAL DEVELOPMENT MANAGER): $259,515 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide housing facilities for low income senior citizens.
What it reported doing in 2024
City square elderly housing, inc. Is a Massachusetts non-profit housing corporation organized on a non-stock basis. The corporation was formed in june 1983 to acquire an interest in real property located in charlestown, Massachusetts, and to construct and operate thereon an apartment project of 120 units. Housing is provided to low income seniors in cooperation with the us department of housing and urban development. In august 2022, city square elderly housing, inc. Transferred its land, real and personal property and other assets to city square elderly housing limited partnership, a wholly-owned subsidiary of city square elderly housing, inc.
Operating model
- Revenue model
- Grant-funded. 83% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 93% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 69
- Transparency & Controls: 71
- Accountability: 95
- Sustainability: 62
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71.8%; rating input score 72
- Program expense ratio: 88.4%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 72nd percentile among comparable filings
- 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: 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: NotApplicable
- 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: 19.6%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 2.99; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: 2.72; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 9.2%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: 19.8% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings
- Asset growth: 11.7% per year; rating input score 100; 65th percentile among comparable filings
Details
- Where the money goes: 71.8% of revenue deployed · 88.4% of spending went to programs
- Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $3.4M in reported program spending
- Leadership: top reported pay $368K · 21 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $136K reported
- Consistency: 28 of 28 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 93 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Liabilities to assets ratio scored 1/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.