Four Corners Development Corporation

Nonprofit profile at a glance

EIN
222816977
IRS 990 coverage
2014–2021
Forms available
Form 990 2021
Location
Boston, MA, USA
Phone
6174370200
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$194,630
Expenses
$49,913
Assets
$971,566
Liabilities
$17,655

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

Leadership & pay

5 people listed

Executive titles in this filing

  • STEVEN GODFREY (PRESIDENT)

Highest reported compensation

  • STEVEN GODFREY (PRESIDENT): $26,700 total reported compensation

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

Overview

Mission

Initiate and assist in projects, undertakings, studies and other activities in cooperation and in coordination with local governmental and civic bodies for the elimination of slums, blight, blighting influences, and any and all conditions resulting in poverty, and to assist and forster the planning, replanning development renewal, redevelopment and improvement of the south end-lower roxbury, Massachusetts, all to combat deterioration and primarily secure, adequate, decent, safe and affordable housing, as well as community facilities and services and conditions, economic and otherwise, condusive to the progress and general welfare of the community.

What it reported doing in 2021

Providing oversight and financing for 28 low income housing units and 27 moderate income housing units in the south end-lower roxbury section of boston, inclusive of tenant events and summer school youth activities.

Operating model

Revenue model
Earned-program. 100% 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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 23.8%; rating input score 24
  • Program expense ratio: 92.8%; rating input score 93
  • 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: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 74.4%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 19.47; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 53.5%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 14.3% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 26.3% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 23.8% of revenue deployed · 92.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $46K in reported program spending
  • Leadership: top reported pay $27K · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes related organizations
  • Filing history: 6 filing years from 2014 to 2021
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 24/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.