Northborough Affordable Housing Corporation

Nonprofit profile at a glance

EIN
043239046
IRS 990-EZ coverage
2022–2025
Forms available
Form 990 2021, Form 990-EZ 2025
Location
Northborough, MA, USA
Phone
5086851001
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$38,549
Expenses
$43,780
Assets
$475,595

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

Leadership & pay

5 people listed

People named in this filing

  • GEORGE PEMBER (Clerk/Director)
  • MICHELLE GILLESPIE (Director)
  • RICHARD LEIF (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-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To finance, develop, control, acquire, purchase, sell, rehabilitate and own diverse types of housing in the town of northborough, Massachusetts, or to otherwise facilitate the same designed to provide safe, sanitary and suitable living accomodations of any and every type and kind primarily for the benefit of low, moderate and middle class persons residing or working in the town of northborough, Massachusetts.

What it reported doing in 2025

Since its inception, the northborough affordable housing corporation (nahc) has advocated for the creation of affordable housing in the town of northborough. To date, nahc has built and owns 4 units of affordable senior rental housing located at the center drive location of the northborough housing authority and managed by the housing authority and has partnered with habitat for humanity (hfh) to create an additional 5 units of affordable family housing in northborough. Nahc is currently pursuing additional opportunities for affordable housing with hfh. Nahc also acts as an advisor and consultant to northborough town staff and the members of town boards and committees on matters relating to affordable housing.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 82
  • Sustainability: 46
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.3%; rating input score 97

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -13.6%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 10.86; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -17.3% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 31st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $43K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.