New Milford Affordable Housing Inc

Nonprofit profile at a glance

EIN
223112583
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
New Milford, CT, USA
Phone
8602106037
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$334,496
Expenses
$337,064
Assets
$5,301,185
Liabilities
$3,006,501

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

Leadership & pay

4 people listed

Executive titles in this filing

  • MARY JANE LUNDGREN (PRESIDENT)

Highest reported compensation

  • THERESA MCSPEDON (TREASURER AND EXECUTIVE DI): $38,810 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 supportive and affordable housing to those residents most in need in the greater new milford area.

What it reported doing in 2024

To provide supportive and affordable housing to the greater new milford area residents

Operating model

Revenue model
Earned-program. 61% of the money available for current operations came from fees and other program 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

SUPPORTED - 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: 74
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 84.1%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.8%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 15.73; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 11.5%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 20.6% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 84.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $283K in reported program spending
  • Leadership: top reported pay $39K · 4 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.