Homeowner Options for Massachusetts Elderly Inc

Nonprofit profile at a glance

EIN
042931627
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Lawrence, MA, USA
Phone
9789700012
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$1
Expenses
$3,198
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • LEONARD F RAYMOND (EXECUTIVE DIRECTOR)
  • DAVID ANDERSON (PRESIDENT)

People named in this filing

  • LEONARD F RAYMOND (EXECUTIVE DIRECTOR)
  • DAVID ANDERSON (PRESIDENT)
  • JON AUGER (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing counseling on financial, housing, and resource options to needy elders in Massachusetts who wish to protect the equity in their homes.

What it reported doing in 2023

The organization provides counseling on financial, housing, and resource options available to needy elders in Massachusetts who wish to protect the equity in their homes.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 70%; rating input score 70
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 27th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -319,700%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -17.7% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: -9.4% per year; rating input score 0; 35th percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 70% of spending went to programs
  • Governance: 8 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.