Common Capital Inc

Nonprofit profile at a glance

EIN
223051402
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Springfield, MA, USA
Phone
4132331680
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$1,768,948
Expenses
$1,797,966
Assets
$11,930,932
Liabilities
$5,160,949

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

Leadership & pay

11 people listed

Executive titles in this filing

  • RAYMOND LANZA-WEIL (CEO)

Highest reported compensation

  • KEITH FAIREY (VICE CHAIR): $261,751 total reported compensation
  • PASCALE DESIR (ASSISTANT CLERK): $174,335 total reported compensation
  • RAYMOND LANZA-WEIL (CEO): $167,627 total reported compensation

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

Overview

Mission

Common capital, inc. Is a nonprofit community development financial institution (cdfi) certified by the u.s. Treasury department working to grow and strengthen the regional economy by strengthening local businesses and community organizations in western and central Massachusetts. Common capital, inc. Provides business loans and technical assistance to help business owners and organizations establish and grow in order to improve income levels, expand job opportunities, and strengthen the local communities. Common caputal, inc. Also provides direct access to alternative financing sources and predominately serves economically-distressed, low-wealth communities.

What it reported doing in 2024

Provides business loans and technical assistance to help business owners and organizations establish and grow in order to improve income levels, expand job opportunities and strengthen the local communities. Also provides direct access to alternative financing sources.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.3%; rating input score 87
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: -1.6%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 6.64; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 11.5%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 16.2% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 87.3% of revenue deployed · 85.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $262K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2017 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.

  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.