Lynn Home for Young Women Inc

Nonprofit profile at a glance

EIN
042104409
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Lynn, MA, USA
Phone
7815922037
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$756,149
Expenses
$719,009
Assets
$8,225,173
Liabilities
$5,768,102

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Lisa Carangelo (Vice President)
  • Barbara Morrison (President)
  • Lisa Connolly (Executive Director)

Highest reported compensation

  • Lisa Connolly (Executive Director): $51,752 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 home operates a home for low income individuals focusing on the whole individual by providing services and programs for our residents.

What it reported doing in 2024

The organization operates a home for low income individuals by offering affordable units for rent at below market rates. There are 43 residential units ranging from furnished rooms to studio apartments, as well as common areas. The home also offers a meals program, social services and training to residents

Operating model

Revenue model
Earned-program. 64% 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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.5%; rating input score 96
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: $2.08 raised per $1 spent on fundraising; rating input score 6; 6th 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: 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: 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.9%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 11.44; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 95.5% of revenue deployed · 80.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $576K in reported program spending
  • Leadership: top reported pay $52K · 12 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Fundraising efficiency scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.