Monadnock Affordable Housing Corporation C/o Keene Housing

Nonprofit profile at a glance

EIN
020511413
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Keene, NH, USA
Phone
6033526161
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$8,763,101
Expenses
$6,769,439
Assets
$36,192,810
Liabilities
$18,276,950

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JOSHUA MEEHAN (PRESIDENT)
  • CHRIS COATES (VICE PRESIDENT)

People named in this filing

  • JOSHUA MEEHAN (PRESIDENT)
  • CHRIS COATES (VICE PRESIDENT)
  • LINDA GRIFFIN (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

Provide affordable housing to low-income persons and management and maintenance services for low-income housing projects.

What it reported doing in 2024

Provide affordable housing management and maintenance services to other non-profit organizations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 100
  • Accountability: 94
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 70
  • Program expense ratio: 89.8%; rating input score 90
  • 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: 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 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 22.8%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 5.35; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 89.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6.1M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 4 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: Conflict-of-interest policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.