Melrose Police Relief Corp C/o John Goodhue

Nonprofit profile at a glance

EIN
046061211
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Melrose, MA, USA
Phone
7815728596
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$41,235
Expenses
$30,107
Assets
$446,628
Liabilities
$3,264

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JOHN GOODHUE (PRESIDENT)

Highest reported compensation

  • JOHN GOODHUE (PRESIDENT): $1,500 total reported compensation
  • DANIEL R RIORDAN (TREASURER): $1,500 total reported compensation
  • STEPHEN GALVIN (SECRETARY): $700 total reported compensation

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

Overview

Mission

To provide a retirement (or death) benefit to all members of the melrose police relief corporation.

What it reported doing in 2024

The melrose police relief corporation provides a retirement (or death) benefit to all members (or the surviving spouses of the members) of the corporation. . During the year ended december 31, 2024 one member received benefits from the melrose police relief corporation.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 93
  • Accountability: 72
  • Sustainability: 63
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.3%; rating input score 85
  • Program expense ratio: 43.2%; rating input score 43
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 14.83; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 14.6%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 14% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: -1.9% per year; rating input score 0; 31st percentile among comparable filings

Details

  • Where the money goes: 85.3% of revenue deployed · 43.2% of spending went to programs
  • Governance: 72 of 72 board members independent · 3 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $13K in reported program spending
  • Leadership: top reported pay $2K · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules · includes grants
  • Filing history: 6 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Program expense ratio scored 43/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.