Putnam Communities Inc
Nonprofit profile at a glance
- EIN
- 333944180
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Putnam, CT, USA
- Phone
- 8609636829
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $116,733
- Expenses
- $390,596
- Assets
- $4,632,026
- Liabilities
- $1,336,187
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Kathy Carter (President)
- Shawn Fagan (Vice President)
People named in this filing
- Kathy Carter (President)
- Shawn Fagan (Vice President)
- Jennifer Benzie (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Affordable housing
What it reported doing in 2024
TBD
Operating model
- Revenue model
- Earned-program. 61% 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 90
- Accountability: 30
- Sustainability: 37
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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: Limited
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -234.6%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 11.86; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.29; rating input score 16; 16th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $391K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 20 of 20 current checks pass
- Schedules: 3 filed schedules
- 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.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Liabilities to assets ratio scored 16/100.