Quadraplex Housing Inc

Nonprofit profile at a glance

EIN
222551162
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Kingston, MA, USA
Phone
7814224200
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$376,434
Expenses
$330,925
Assets
$1,458,126
Liabilities
$1,794,017

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

Leadership & pay

19 people listed

Executive titles in this filing

  • ROBERT CORLEY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ROBERT CORLEY (CHIEF EXECUTIVE OFFICER): $350,372 total reported compensation
  • CHRISTINE MACDONALD (CHIEF FINANCIAL OFFICER): $223,907 total reported compensation

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

Overview

Mission

Acquire, rehabilitate, own, maintain and operate low and moderate income housing units

What it reported doing in 2024

Quadraplex housing, inc. Provided 20 units of residential housing to low and mederate income families in kingston, Massachusetts.

Operating model

Revenue model
Earned-program. 90% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 65
  • Accountability: 81
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.5%; rating input score 77
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 90.9%; rating input score 91; 25th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.1%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 4.41; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 1.23; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 18.7%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 76.5% of revenue deployed · 89.3% of spending went to programs
  • Governance: 20 of 22 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $296K in reported program spending
  • Leadership: top reported pay $350K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.