My Sisters' Place Inc

What it reported doing in 2024

Supportive housing programs: my sisters' place provides supportive housing for low income individuals and families who were formerly homeless and unable to hold their own lease. Through the mary seymour place apartments and sue ann shay place apartments and the beaumont lofts, msp provides housing and support services for those who meet one or more of the following criteria: low income, living with a mental illness, and/or currently homeless. Security deposit programs - msp operates a few different programs providing limited financial assistance such as security deposits, first month's rent, security deposit guarantees and sometimes small rental arrears to households who are homeless or at risk of homelessness. Available funding varies and specifies what households may be served and what expenses can be covered. The hartford foundation for public giving, the hartford and the first congregational church of vernon have been long-time supporters of these programs. Last year, a total of 220 individuals were served through the rental assistance programs. Housing mobility program - assists 100 individuals and families with housing subsidies to move from areas of low opportunity (usually in cities) to areas of higher opportunity in the hartford region. High opportunity areas are those with better school systems, low crime rates, better transportation and better job opportunities. Staff provide tenant education, mobility counseling, and housing search assistance by meeting with potential clients, landlords, and program staff to match people with opportunities. To qualify, clients must have a section 8 or rap housing voucher along with at least one child 13 or younger living in the household. Last year, a total of 466 individuals were served through the housing mobility counseling program.

Financial Efficiency

• Mission deployment rate: 75.6%; rating input score 76
• Program expense ratio: 85.8%; rating input score 86
• Fundraising efficiency: $18.29 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd 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: 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: 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: 12.4%; rating input score 67; 67th percentile among comparable filings
• Total-asset coverage ratio: 5.13; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 0.31; rating input score 33; 33rd percentile among comparable filings
• Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings

Growth

• Program expense growth: 3% per year; rating input score 100; 27th percentile among comparable filings
• Revenue growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
• Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings