Kennedy Management Inc C/o Cambridge Housing Authority

Nonprofit profile at a glance

EIN
043597428
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6175206387
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,770,598
Expenses
$8,051,052
Assets
$144,781,091
Liabilities
$151,118,446

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

Leadership & pay

17 people listed

Executive titles in this filing

  • ELAINE DEROSA (PRESIDENT)
  • SUSAN T CONNELLY (VICE-PRESIDENT)
  • MARGARET DONNELLY-MORAN (DEPUTY EXECUTIVE DIRECTOR)
  • BRENDA SNOWDEN DOWNING (DEPUTY EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARGARET DONNELLY-MORAN (DEPUTY EXECUTIVE DIRECTOR): $391,886 total reported compensation
  • MICHAEL J JOHNSTON (CLERK): $354,675 total reported compensation
  • BRENDA SNOWDEN DOWNING (DEPUTY EXECUTIVE DIRECTOR): $345,817 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's mission is to provide management and supporting services for related organizations which own and operate low-income housing units for qualifying individuals in the city of cambridge and to provide long-term development services for such housing units.

What it reported doing in 2024

Affordable housing - management and supporting services for related organizations which own and operate housing for low and moderate income persons.

Operating model

Revenue model
Earned-program. 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 60
  • Accountability: 78
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.4%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 71.4%; rating input score 71; 12th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -190.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 17.98; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 1.04; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 24.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 19% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 24.1% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.4% of spending went to programs
  • Governance: 5 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.3M in reported program spending
  • Leadership: top reported pay $392K · 17 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $20.2M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 9 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.