Lynn Housing Authority Development Group Inc

Nonprofit profile at a glance

EIN
542084084
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Lynn, MA, USA
Phone
7815818600
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$406,227
Expenses
$360,423
Assets
$446,908
Liabilities
$76,123

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

Leadership & pay

5 people listed

Highest reported compensation

  • STEPHEN MARTIN (CHAIRPERSON): $960 total reported compensation
  • SUSAN MCGINNIS-LANG (TREASURER): $960 total reported compensation
  • JUSTIN ANSHEWITZ (DIRECTOR): $960 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide charitable assistance to the general public by providing affordable housing through the purchase, sale, renting and leasing of dwellings.

What it reported doing in 2024

Financial counseling - the financial coaching program is designed to help families/individuals have a better understanding of one's finances, leading to financial stability. The financial coaching program provides regular one-on-one and workshop sessions with clients in order to guide clients to meet their goals and financial independence. The financial coaching program is a united way supported program that can assist with credit building, credit repairing, budgeting, money management, debt collections, delinquent bills, debt consolidation, etc.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 45
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 94.9%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 87.6%; rating input score 88; 51st 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: 6 of 9 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.3%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -3.1% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: -2.3% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 94.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $342K in reported program spending
  • Leadership: top reported pay $960 · 5 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.