Mansfield Non Profit Housing Development Corporation

Nonprofit profile at a glance

EIN
222514756
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Storrs, CT, USA
Phone
8604870693
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$5,152
Expenses
$274,403
Assets
$55,948
Liabilities
$258,321

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

Leadership & pay

4 people listed

Executive titles in this filing

  • KATHLEEN WARD (PRESIDENT)
  • WILLIAM SIMONSEN (VICE PRESIDENT)

People named in this filing

  • KATHLEEN WARD (PRESIDENT)
  • WILLIAM SIMONSEN (VICE PRESIDENT)
  • RICHARD P LONG (TREASURER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of this corporation is to promote the general welfare of the community through (i) promotion of housing for low and moderate income people, and in particular, residents of the towns served by the mansfield housing authority and (ii) providing varied housing options in order to promote sustainability of the corporation and the integration of residents in affordable and market rate housing.

What it reported doing in 2024

Promotion of housing or low and moderate income people.

Operating model

Revenue model
Other-operating. 83% of the money available for current operations came from other operating 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 11
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: Limited

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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5,226.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 4.62; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 129.8% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -194.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -141.6% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $273K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.