Greater Boston Real Estate Board Foundation

Nonprofit profile at a glance

EIN
223299681
IRS 990 coverage
2011–2025
Forms available
Form 990 2025, Form 990-EZ 2010, Form 990-T 2024
Location
Boston, MA, USA
Phone
6174238700
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Services N.E.C.

Official website

Reported finances

Revenue
$204,162
Expenses
$184,104
Assets
$1,299,243
Liabilities
$27,637

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • Greg Vasil (CEO)
  • Adrienne Maley (Executive Director)
  • Maria Brogan (Executive Director)

Highest reported compensation

  • Greg Vasil (CEO): $409,768 total reported compensation
  • Adam Kozol (Director of Finance): $231,320 total reported compensation
  • Adrienne Maley (Executive Director): $221,504 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Grants to charitable 501(c) organizations whose activities are conducted in the Greater Boston area.

What it reported doing in 2025

The Greater Boston Real Estate Board Foundation was established in 1994 to provide contributions to housing related charities. In addition, the foundation provides scholarships for eligible graduating high school seniors to attend college.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Program spending has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 80
  • Accountability: 91
  • Sustainability: 55
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65%; rating input score 65
  • Program expense ratio: 65.5%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 27th 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: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.9%; rating input score 96; 58th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • 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: 9.8%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 7.06; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 89.3%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -0% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 12.9% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 65% of revenue deployed · 65.5% of spending went to programs
  • Governance: 25 of 25 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $120K in reported program spending
  • Leadership: top reported pay $410K · 30 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 8 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 — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Sustainability: Operating margin scored 56/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.