People Incorporated Nmtc Support Corporation

Nonprofit profile at a glance

EIN
332755905
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Fall River, MA, USA
Phone
5086795233
Rating
39
Verdict
REVIEW
Rating confidence
Limited
Sector
Single Organization Support

Reported finances

Revenue
$2,404,494
Expenses
$0
Assets
$9,654,494
Liabilities
$7,250,000

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JASON RUA (PRESIDENT)
  • MEGAN STIRK (PRESIDENT/CEO)

Highest reported compensation

  • MEGAN STIRK (PRESIDENT/CEO): $348,982 total reported compensation
  • ELIZABETH MACHADO (COO): $289,247 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

People incorporated nmtc support corporation (support corp) was formed under the laws of the commonwealth of Massachusetts as a not-for-profit organization on january 8, 2025. The specific objectives of support corp are to own, lease, and maintain approximately 19,800 square feet of commercial space for the early education center located at 145 weaver street in fall river, Massachusetts (the project). The new market tax credit (nmtc) structure requires support corp to rent 100% of the commercial space to people, incorporated (people) to promote its mission of providing services to the citizens of fall river, Massachusetts. Support corp was organized to engage in charitable activities that complement and support the charitable activities of people.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 69
  • Accountability: 91
  • Sustainability: 1
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.75; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $349K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.