House of Hope Housing Inc C/o House of Hope Inc

Nonprofit profile at a glance

EIN
582669733
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lowell, MA, USA
Phone
9784582870
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Rehabilitation

Official website

Reported finances

Revenue
$1,179,125
Expenses
$1,285,385
Assets
$7,865,609
Liabilities
$9,166,935

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

Leadership & pay

22 people listed

Executive titles in this filing

  • DAN O'CONNOR (VICE - PRESIDENT)
  • JEFF BUSH (PRESIDENT)
  • JULIE LEMIRE (EXECUTIVE DIRECTOR 1/1/25 - PRESENT)

Highest reported compensation

  • DEBORAH CHAUSSE (EXECUTIVE ADVISOR (EXEC.DIRECTOR 7/1/24 -12/31/24)): $154,676 total reported compensation
  • JULIE LEMIRE (EXECUTIVE DIRECTOR 1/1/25 - PRESENT): $149,424 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 promote improved social and economic conditions of families who are or who have recently been homeless; to promote, develop, and manage affordable housing for families and to assist in carrying out the charitable purposes of house of hope, inc.

What it reported doing in 2024

The new hope apartments, the lakeview apartments, the pawtucket apartments, and the smith apartments together provide thirty-eight units of subsidized housing. In order to meet eligibility requirements, applicants must be homeless, extremely low income, and have a need to receive supportive family services.

Operating model

Revenue model
Earned-program. 86% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 61
  • Accountability: 95
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 6.12; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 1.17; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 12.8% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $155K · 22 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 18/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.