Greater Springfield Residences Inc

Nonprofit profile at a glance

EIN
043330930
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Randolph, MA, USA
Phone
7814400400
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$83,051
Expenses
$108,944
Assets
$419,576
Liabilities
$595,629

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

Leadership & pay

5 people listed

Executive titles in this filing

  • RICHARD WICHMANN (PRESIDENT, DIRECTOR)

Highest reported compensation

  • LAUREN C SOLOTAR (CLERK, DIRECTOR): $698,235 total reported compensation
  • NATASA VUCETIC (CHIEF FINANCIAL OFFICER): $128,582 total reported compensation
  • HEATHER BOMBARD (ASSISTANT CLERK): $99,512 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 provide residences for individuals and families with disabilities during rehabilitation.

What it reported doing in 2024

The organization provides housing for individuals and families with disabilities during rehabilitation meeting u.s. Hud income criteria.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 89
  • Accountability: 76
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.9%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • 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: No; rating input score 0

Accountability

  • Independent voting board: 66.7%; rating input score 67; 22nd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -31.2%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 3.85; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 1.42; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 143.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -0% per year; rating input score 0; 51st percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: -3.6% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.9% of spending went to programs
  • Governance: 2 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $100K in reported program spending
  • Leadership: top reported pay $698K · 5 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.