Metro North Regional Employment Board

Nonprofit profile at a glance

EIN
043279555
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Malden, MA, USA
Phone
6178641500
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$15,019,478
Expenses
$15,506,614
Assets
$5,988,033
Liabilities
$4,541,864

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

Leadership & pay

24 people listed

Executive titles in this filing

  • Christopher Albrizio-Lee (President and CEO)

Highest reported compensation

  • Christopher Albrizio-Lee (President and CEO): $162,820 total reported compensation
  • Richard Dalton (CFO): $135,325 total reported compensation
  • Thomas Hanna (Former Controller, VP): $121,335 total reported compensation

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

Overview

Mission

MassHire Metro North Workforce Board's mission is to develop partnerships, generate resources, and advocate for workforce solutions that result in a skilled workforce, prospering businesses, and equitable access to meaningful career pathways and quality employment for residents.

What it reported doing in 2024

Adult Basic Education - This program is designed for the administration of adult basic education and English as second language programs and related funding is passed through to seven educational agencies. Connecting Activities - This program was designed for the development, oversight, and integration of school-to-work into a system of education and workforce development and related funding is passed through to the organization's two career centers. Advanced Manufacturing Training Program - This program is designed to provide advanced manufacturing training to unemployed and underemployed individuals. Career Opportunities in Retail - This program is designed to improve the perception of retail careers among job seekers by demonstrating the sectors varied career pathway and opportunities for advancement.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 95.5%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.8%; rating input score 100; 37th 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; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.2%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 14.6% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 13.9% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 14.9% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 95.5% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $14.8M in reported program spending
  • Leadership: top reported pay $163K · 24 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 59 filed money-flow records
  • Related organizations: 54 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.