Gmp Development Corp

Nonprofit profile at a glance

EIN
275173077
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Marlborough, MA, USA
Phone
5084854227
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Temporary Housing

Reported finances

Revenue
$418,815
Expenses
$422,111
Assets
$651,514
Liabilities
$1,053,387

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

Leadership & pay

13 people listed

Executive titles in this filing

  • SEAN ROSE (PRESIDENT & CEO)

Highest reported compensation

  • SEAN ROSE (PRESIDENT & CEO): $301,016 total reported compensation
  • STACEY FORREST (CHIEF OPERATING OFFICER): $296,163 total reported compensation
  • MEG MULHERN (VP OF FINANCE & DEVELOPMENT): $150,760 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 serve the needs of developmentally disabled individuals in the marlborough, Massachusetts area.

What it reported doing in 2024

Gmpd was formed on february 25, 2011, to provide twenty units of housing in two buildings located in marlborough, Massachusetts, for individuals with developmental disabilities under the provisions of section 202 of the national housing act of 1959. Gmpd is regulated by the u.s. Department of housing and urban development (hud) as to rent charges and operating methods.

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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 77
  • Accountability: 84
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.2%; rating input score 66
  • Program expense ratio: 65.7%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 24th 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: -0.8%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 1.54; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 1.62; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 14.9%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: -6.5% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 66.2% of revenue deployed · 65.7% of spending went to programs
  • Governance: 8 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $278K in reported program spending
  • Leadership: top reported pay $301K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 21 of 21 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: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.