Oneholyoke Community Development Corp

Nonprofit profile at a glance

EIN
237168031
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Holyoke, MA, USA
Phone
4135337101
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$3,803,508
Expenses
$4,606,198
Assets
$4,464,414
Liabilities
$1,229,161

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MICHAEL MORIARTY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MICHAEL MORIARTY (EXECUTIVE DIRECTOR): $112,315 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 further the development of low and moderate income housing, to assist in the expansion of locally-owned business enterprises and to provide other assistance for the improvement of residential and business property in holyoke, Massachusetts.

What it reported doing in 2024

Rnip loan program - the holyoke rental neighborhood improvement program provides low interest loans to rental property owners to provide quality housing in the city of holyoke. Loans may be used to make building improvements including energy saving rehab like windows, doors and hvac systems or to address code/building violations. Funding must result in occupiable units which meet hud hqs standards. Interim financing and refinancing of existing debt is not permitted. At project completion, 51% of tenants must meet the section 8 income limits.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.

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: 75
  • Transparency & Controls: 94
  • Accountability: 74
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.1%; rating input score 79
  • Program expense ratio: 65.5%; rating input score 66
  • Fundraising efficiency: $82.91 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

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

Sustainability

  • Operating margin: -21.1%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 79.1% of revenue deployed · 65.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $112K · 14 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.