Greenfield Housing Associates Inc

Nonprofit profile at a glance

EIN
223019882
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Greenfield, MA, USA
Phone
4137742932
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$62,823
Expenses
$44,576
Assets
$853,593
Liabilities
$443,400

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JACK REDMAN (EXECUTIVE DIRECTOR)
  • JON HITE EXITED 82024 (PAST INTERIM EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOSEPH N RUGGERI (CHAIRPERSON): $1,500 total reported compensation
  • TRISH LEONARD (TREASURER): $1,200 total reported compensation
  • ANDREW AJ BRESCIANO (MEMBER): $1,200 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 safe, decent and sanitary housing conditions for low-income families and to manage resources efficiently.

What it reported doing in 2024

Affordable rental program for low income families and individuals.

Operating model

Revenue model
Earned-program. 87% 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: 55
  • Transparency & Controls: 91
  • Accountability: 74
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.8%; rating input score 53
  • Program expense ratio: 77.1%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass

Sustainability

  • Operating margin: 29%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 19.15; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 11.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 13.8% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 52.8% of revenue deployed · 77.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $34K in reported program spending
  • Leadership: top reported pay $2K · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $113K reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 53/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.