Concord Area Trust for Community Housing

Nonprofit profile at a glance

EIN
020433505
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Concord, NH, USA
Phone
6032258835
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$1,938,007
Expenses
$1,444,715
Assets
$12,149,629
Liabilities
$3,809,501

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

Leadership & pay

17 people listed

Executive titles in this filing

  • THOMAS FURTADO (PRESIDENT AND CEO)

Highest reported compensation

  • THOMAS FURTADO (PRESIDENT AND CEO): $188,813 total reported compensation
  • DALE HEON (CHIEF FINANCIAL OFFICER): $118,161 total reported compensation
  • ALEXANDRIA PANAGIOTAKOS (CHIEF OPERATING OFFICER): $105,388 total reported compensation

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

Overview

Mission

Catch's mission is to strengthen our communities by creating opportunities for permanently affordable, quality housing for people otherwise not being served.

What it reported doing in 2024

Affordable rental apartments: catch currently owns and maintains 379 affordable rental apartments, 49 market rate apartments and 4 commericail spaces, that are home to over 845 adults and children.

Operating model

Revenue model
Earned-program. 69% 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 - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 69
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.4%; rating input score 57
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: $3.17 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.5%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 8.41; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 28.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 57.4% of revenue deployed · 80.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $189K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 28 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.