Greater Fall River Development Corp

Nonprofit profile at a glance

EIN
042171799
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fall River, MA, USA
Phone
5086757770
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$676,091
Expenses
$245,835
Assets
$9,905,263
Liabilities
$12,857

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

Leadership & pay

22 people listed

Executive titles in this filing

  • PAUL M JONCAS (PRESIDENT)
  • JASON M RUA (VICE PRESIDENT)
  • PHILIP PELLETIER (VICE PRESIDENT)
  • ROBERT BOGAN (PAST PRESIDENT)

Highest reported compensation

  • PETER SAULINO ESQ (CLERK): $250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Business and job development.

What it reported doing in 2024

Upgrading and developing land for sale to make available to new businesses to start/expand, thus creating new jobs for the Greater Fall River area.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 80% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 93
  • Accountability: 81
  • Sustainability: 90
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71%; rating input score 71
  • Program expense ratio: 70.3%; rating input score 70
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.5%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 63.6%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 40.29; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 15.1% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 71% of revenue deployed · 70.3% of spending went to programs
  • Governance: 21 of 22 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $173K in reported program spending
  • Leadership: top reported pay $250 · 22 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.