Housing Corporation of Arlington

Nonprofit profile at a glance

EIN
042944144
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Arlington, MA, USA
Phone
7818595294
Rating
88
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Expense Reduction Support

Official website

Reported finances

Revenue
$2,902,481
Expenses
$2,583,324
Assets
$21,332,292
Liabilities
$22,862,582

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

Leadership & pay

20 people listed

Executive titles in this filing

  • NEAL MONGOLD (PRESIDENT)
  • MAKEELIA PARKER (VICE PRESIDENT)
  • ERICA SCHWARZ (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ERICA SCHWARZ (EXECUTIVE DIRECTOR): $120,916 total reported compensation
  • TAKAYEDZA MASHOKO (DIRECTOR OF FINANCE): $107,242 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 acquire, develop, improve, sell, manage (mortgage, remortgage) and lease affordable housing in the town of arlington for low and moderate income families and to provide other social and civic services to benefit low and moderate income members of society.

What it reported doing in 2024

Social serviceshca supports our own tenants and other low-income families with a wide range of housing and other social service needs. Based on a comprehensive intake, assistance may include: homelessness prevention program grants: hca helps approximately 50 arlington families a year remain stably housed by awarding close to $100,000 in direct small grants to cover rent, security deposit or moving expenses. These one-time grants may be the difference between homelessness and stability for families facing job loss, medical issues, divorce, or other life circumstances.housing support & search: hca helps families and individuals with housing search, and address unsafe housing conditions, threat of eviction and more. Hca staff help tenants communicate with landlords, apply for waiting lists (including hca's), apply for housing vouchers, secure a shelter bed, or apply for hpp and/or other rental assistance. Other services: hca staff help clients secure social security benefits and masshealth health care. We refer families for mental health counseling, food, fuel assistance, job search and more. Hca staff maintain strong relationships with partners, and follows up until clients' needs are met. Through bank partnerships, hca also provides free financial literacy classes.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% 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. Fundraising costs are high for each dollar raised and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 96
  • Accountability: 100
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.4%; rating input score 79
  • Program expense ratio: 89.1%; rating input score 89
  • Fundraising efficiency: $12.91 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 11%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 8.26; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 1.07; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 10.9% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 79.4% of revenue deployed · 89.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $121K · 20 people listed
  • Highest-paid contractors: 1 contractor listed · $130K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 7 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.