Newmarket Business Improvement District Inc

What it reported doing in 2024

Back2work programin 2018, the newmarket business association, now the newmarket business improvement district (bid), promoted a workforce development program for the homeless to the city, and while it was well received at the time, boston did not have the ability to assist in funding it. In early 2021, newmarket began funding the program ourselves and for the past year and a half, the newmarket business improvement district has managed the program focused on providing low-threshold same-day work for individuals experiencing shelter instability, homelessness and/or a substance use disorder.this effort acknowledges the barriers that these individuals face in both applying for jobs, as well as maintaining their employment, and creates a lower barrier approach to suit their needs.as a result of our early success, the boston department of public health has assisted us with funding during the past year which has led to a significant expansion of the program. We have now assisted over 150 individuals to achieve a life of sobriety and stability.through this initiative, the newmarket bid employs homeless and housing challenged individuals in the mass and cass area to provide supplemental services in cleaning and beautifying the area by providing day jobs including landscape beautification, trash removal, power washing, graffiti removal and similar.we work in close cooperation with the mayor's office, and recovery, shelter & engagement center staff to identify/hire those individuals that have a likelihood of success in this program. We believe that we are the first step toward changing their lives and the sos program provides the next step in the process.participants of this program are reimbursed through cash stipends and/or gift cards, all of which can be used for work clothes, apartment needs, medical needs, or anything else that the person may need. Of course, as you can imagine, these stipends only go so far and we many times end up providing "advances or "extra money" for necessities including boots, shoes, goggles, clean clothes, snacks etc.participants work every day alongside program staff and peer support specialists, who engage them in professional development activities and support their connection to social services, such as housing supports, benefits access, and physical, mental, and behavioral health providers. It is an important component to the program that, while we do not require that individuals are clean when they come into the program, they have to be willing to work toward sobriety/recovery during their first several weeks working with us. We are very proud of the fact that the majority of our workers are currently in recovery/sobriety and all of the others, while not there yet, are in a much better place than they were previously. In addition, it is also an important part of the program that we find more stable housing for our workers and while the vast majority were previously living in tents or on the street, they are now living in low threshold, supportive housing or in sro's or apartments.the end goal of this initiative is to provide our workers with the opportunity to be hired by local companies in part-time or full-time positions. We have placed more than 75 individuals into jobs and expect to increase that number in fy26.

Financial Efficiency

• Mission deployment rate: 78.3%; rating input score 78
• Program expense ratio: 84.8%; rating input score 85
• Fundraising efficiency: $8.24 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• 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: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: 7.9%; rating input score 58; 58th percentile among comparable filings
• Total-asset coverage ratio: 0.63; rating input score 23; 23rd percentile among comparable filings
• Liabilities to assets ratio: 0.44; rating input score 24; 24th percentile among comparable filings
• Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings

Growth

• Program expense growth: 7.6% per year; rating input score 100; 54th percentile among comparable filings
• Revenue growth: 6% per year; rating input score 100; 48th percentile among comparable filings
• Asset growth: 34.9% per year; rating input score 100; 95th percentile among comparable filings