Commons Housing Corporation

Nonprofit profile at a glance

EIN
223226599
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Alfred, ME, USA
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$169,171
Expenses
$152,555
Assets
$1,252,888
Liabilities
$1,176,667

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Lindsey Partridge (Vice President)
  • Clay Graybeal (Board President)
  • Megan Gean-Gendron (Executive Director)

People named in this filing

  • Brother Jerome Lessard (Board Member)
  • Jim Frechette (Board Member)
  • Lindsey Partridge (Vice President)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Corporation was organized to promote the general welfare of the community by constructing and operating rental housing and related facilities suited to the special needs and living requirments of eligible occupants determined by the Dep. of Housing and Urban Development regs.

What it reported doing in 2022

The Corporation operates an eight-unit apartment complex and a four-unit apartment complex in Biddeford, Maine. The Corporation is supported through tenant rents and U.S. Department of Housing and Urban Development Section 8 housing assistance payments.

Operating model

Revenue model
Earned-program. 94% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 95.6%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.8%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 8.21; rating input score 87; 87th 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 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 95.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $146K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.