First Baptist Beverly Housing for the Elderly Inc

Nonprofit profile at a glance

EIN
042645063
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Beverly, MA, USA
Phone
9789221305
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities
Affiliation
Christianity

Reported finances

Revenue
$92,911
Expenses
$14,193
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • PAUL LANZIKOS (PRESIDENT)
  • BILL SCHNEIDER (VICE PRESIDENT/TREASURER)
  • ANDREW DEFRANZA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANDREW DEFRANZA (EXECUTIVE DIRECTOR): $168,497 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide safe high quality affordable housing for low income elders.

What it reported doing in 2014

To provide housing facilities for use and occupancy by the elderly, aged, and handicapped under section 221(d)(4) of the national housing act (1959) & section 8 of the u.s. Housing act (1937).

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 most voting board members are independent. 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: 17
  • Transparency & Controls: 60
  • Accountability: 85
  • Sustainability: 47
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6%; rating input score 6
  • Program expense ratio: 39.8%; rating input score 40
  • 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: 83.3%; rating input score 83; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 84.7%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 62.4%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -198.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 17.2% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: -19.9% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 6% of revenue deployed · 39.8% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6K in reported program spending
  • Leadership: top reported pay $168K · 6 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: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Related organizations: 10 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 6/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.