Harvard Real Estate - Allston Inc

Nonprofit profile at a glance

EIN
043373410
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6174957792
Rating confidence
Limited

Reported finances

Revenue
$11,429,035
Expenses
$10,945,375
Assets
$156,392,326
Liabilities
$58,391,071

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

Leadership & pay

7 people listed

Executive titles in this filing

  • CRAIG MCCURLEY (VICE PRESIDENT & DIRECTOR)
  • JUSTIN D STRATMAN (VICE PRESIDENT & DIRECTOR)
  • MEREDITH WEENICK (PRESIDENT, ASST. TREAS., & DIRECTOR)
  • RITU KALRA (VICE PRESIDENT, ASST. TREASURER & DIRECTOR)

Highest reported compensation

  • MEREDITH WEENICK (PRESIDENT, ASST. TREAS., & DIRECTOR): $882,830 total reported compensation
  • RITU KALRA (VICE PRESIDENT, ASST. TREASURER & DIRECTOR): $721,071 total reported compensation
  • SEAN CARON (SENIOR VP, ASST. TREASURER & DIRECTOR): $565,865 total reported compensation

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

Overview

Mission

The organization acquires real property, holds title to, and manages such property on behalf of harvard university.

What it reported doing in 2024

The organization has been organized for the exclusive purpose of acquiring real property, holding title to and collecting income from such property, and remitting the entire amount of income from such property (less expenses) to president and fellows of harvard college, an organization described in section 501(c)(3) of the internal revenue code. During the year ended june 30, 2025, the organization served 60 tenants, including 48 commercial tenants, 2 university tenants and 10 residential tenants.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 32
  • Sustainability: 64
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd 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: 4.2%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 14.29; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.1% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $10.9M in reported program spending
  • Leadership: top reported pay $883K · 7 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $812K reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 217 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.