Newtown Housing for the Elderly Inc

Nonprofit profile at a glance

EIN
060937573
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Newtown, CT, USA
Phone
2034265000
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$1,447,705
Expenses
$1,507,585
Assets
$3,657,540
Liabilities
$6,097,524

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Richard Simoneau (President)
  • Melanie Mattegat (VICE PRESIDENT)

People named in this filing

  • Richard Simoneau (President)
  • Sue LoRusso (DIRECTOR)
  • David Manzer (DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Newtown housing for the elderly, inc., ("nhe"), is a non-profit organization established to provide low cost housing for those persons aged sixty-two or older and to those persons who are handicapped or disabled. Nhe operates nunnawauk meadows, a 134-unit apartment complex located in newtown, ct. Long-term financing is provided under section 515 of the housing act of 1949. Nhe has entered into an interest credit and rental assistance agreement with usda-rural development ("usda-rd"), whereby rental and operating methods are prescribed. Usda-rd is a division of the u. S. Department of agriculture and is major source of revenue for nhe.

What it reported doing in 2025

Low Income Housing for the Elderly and Disabled - 134 units

Operating model

Revenue model
Earned-program. 63% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 84
  • Accountability: 88
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.7%; rating input score 81
  • Program expense ratio: 77.3%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: -4.1%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 2.43; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 1.67; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 80.7% of revenue deployed · 77.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.