Litchfield Housing Trust Inc

Nonprofit profile at a glance

EIN
061258114
IRS 990 coverage
2013–2020
Forms available
Form 990 2020
Location
Litchfield, CT, USA
Phone
8605678932
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$69,182
Expenses
$136,096
Assets
$3,242,439
Liabilities
$510,387

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • Stacie Kayle (V President)
  • Jeff Zullo (President)

People named in this filing

  • F Robert Petricone (Trustee)
  • Joyce Briggs (Trustee)
  • Barbara Bentley Brower (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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide housing for individuals of modest means.

What it reported doing in 2020

Rental , lease - real estate purchase and sale housing for individuals of modest means.

Operating model

Revenue model
Earned-program. 74% of the money available for current operations came from fees and other program 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 37.9%; rating input score 38
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -96.7%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 23.82; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -17.1% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 37.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $52K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2013 to 2020
  • Contacts: How to reach this organization
  • 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: Program expense ratio scored 38/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.