Fanny Allen Holdings

Nonprofit profile at a glance

EIN
030181052
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Andover, MA, USA
Phone
9786546363
Rating
42
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$17,696,309
Expenses
$432,268
Assets
$98,686
Liabilities
$0

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

Leadership & pay

4 people listed

Highest reported compensation

  • Stephen Grubbs (Director): $1,276,101 total reported compensation
  • Stephen W Forney (Treasurer, SVP/CFO): $853,861 total reported compensation
  • John Newman (Director): $847,638 total reported compensation

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

Overview

Mission

Fanny Allen Holdings supports affiliated not-for-profit organizations by holding and overseeing real property and ensuring that it is used in a manner consistent with the teachings of the Roman Catholic Church.

What it reported doing in 2024

Fanny Allen Holdings supports affiliated not-for-profit organizations by holding and overseeing real property and ensuring that it is used in a manner consistent with the teachings of the Roman Catholic Church. During the period covered by this Form 990, Fanny Allen Holdings disposed of all investments and fixed assets in either direct sales, or by transferring such assets to its supported, parent organization, Covenant Health, Inc.

Operating model

Revenue model
Earned-program. 95% 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

MIXED - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 19
  • Transparency & Controls: 60
  • Accountability: 50
  • Sustainability: 60
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 12.9%; rating input score 13
  • Program expense ratio: 34.7%; rating input score 35
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 7th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • 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: 97.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 25.2%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -8.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 28.8% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 12.9% of revenue deployed · 34.7% of spending went to programs
  • Governance: 1 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $150K in reported program spending
  • Leadership: top reported pay $1.3M · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes 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: 43 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 — Financial Efficiency: Mission deployment rate scored 13/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 35/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.