Firehouse Place Inc

Nonprofit profile at a glance

EIN
273491241
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-N 2010
Location
Beverly, MA, USA
Phone
9789221305
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$88,198
Expenses
$103,255
Assets
$924,486
Liabilities
$862,961

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

Leadership & pay

15 people listed

Executive titles in this filing

  • PAM CONSTANTINE (VICE PRESIDENT)
  • ROBERT GILLIS (PRESIDENT)
  • ANDREW DEFRANZA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANDREW DEFRANZA (EXECUTIVE DIRECTOR): $467,666 total reported compensation
  • TIMOTHY DONOVAN (COO): $245,185 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 affordable housing for low-income individiuals

What it reported doing in 2024

To provide housing faciliities and food pantry to low-income individuals at a 4 unit residential and commercial complex in hamilton, Massachusetts.

Operating model

Revenue model
Earned-program. 99% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 39
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.7%; rating input score 99
  • Program expense ratio: 84.8%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -17.1%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 8.95; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 47.2%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: -4.6% per year; rating input score 0; 44th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 32nd percentile among comparable filings

Details

  • Where the money goes: 98.7% of revenue deployed · 84.8% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $88K in reported program spending
  • Leadership: top reported pay $468K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 17 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.