Quincy Housing Authority Development Corporation

Nonprofit profile at a glance

EIN
471929828
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Quincy, MA, USA
Phone
6178474350
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Official website

Reported finances

Revenue
$6,264,229
Expenses
$5,715,376
Assets
$11,895,992
Liabilities
$4,549,085

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

Leadership & pay

12 people listed

Executive titles in this filing

  • James Marathas (Vice President and Director)
  • Michael Flaherty (President and Director)

Highest reported compensation

  • James Marathas (Vice President and Director): $415,604 total reported compensation
  • Thomas Gorman (Plumber): $253,226 total reported compensation
  • Clinton Gentile (Plumber): $206,159 total reported compensation

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

Overview

Mission

Support for low income housing programs

What it reported doing in 2024

Low income housing support

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating 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 most voting board members are independent. 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: 84
  • Transparency & Controls: 55
  • Accountability: 91
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.4%; rating input score 91
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th 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: Limited
  • 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: 8.8%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 2.08; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 31% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 96.8% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 85.4% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 91.4% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.7M in reported program spending
  • Leadership: top reported pay $416K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $753K reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.