East Bay Community Development Corp

Nonprofit profile at a glance

EIN
050445955
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bristol, RI, USA
Phone
4012532080
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$734,672
Expenses
$920,772
Assets
$4,891,375
Liabilities
$1,102,019

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

Leadership & pay

11 people listed

Executive titles in this filing

  • DENISE ASCIOLA (President)
  • CATHERINE TATTRIE (Vice President)

Highest reported compensation

  • DIANE MEDEROS (Executive Dir.): $118,550 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 services in order to improve the housing stock, assist individuals to become homeowners and provide decent housing to low and moderate income persons

What it reported doing in 2024

The organization purchases, sells and rents housing for low and moderate income persons. The organiztion has acquired a property to be used in tax credit low income housing. In addition, the organization owns and rents 4 units of housing outright and manages low income housing properties with over 333 units in which it has a general partner interest or controling interest. Substantially all of units are rented to low and moderate income persons.

Operating model

Revenue model
Earned-program. 96% 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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 84
  • Accountability: 84
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.9%; rating input score 91
  • Program expense ratio: 73.6%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -25.3%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 5.31; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 12.4% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 90.9% of revenue deployed · 73.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $678K in reported program spending
  • Leadership: top reported pay $119K · 11 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 7 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.