Foster Senior Housing Inc

Nonprofit profile at a glance

EIN
050384420
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Foster, RI, USA
Phone
4019490270
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$447,700
Expenses
$458,279
Assets
$1,403,481
Liabilities
$1,413,134

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • RALPH ANTONELLI (PRESIDENT)

People named in this filing

  • RALPH ANTONELLI (PRESIDENT)
  • DENISE DEFRANCO (DIRECTOR)
  • MARY AGNAS FENNESSEY (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Own and operate a 30 unit elderly complex under usda rural development guildelines.

What it reported doing in 2021

The entity owns and operates a government sponsored, 30 unit elderly housing apartment complex located in foster, Rhode Island. The entity has a rental assistance contract with rural development which provides for rental and interest subsidies.

Operating model

Revenue model
Grant-funded. 70% of the money available for current operations came from government grants.
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

STRONG - 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: 83
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.5%; rating input score 94
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -2.4%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 3.06; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 26th percentile among comparable filings

Details

  • Where the money goes: 94.5% of revenue deployed · 92.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $423K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.