Residential Options Inc

Nonprofit profile at a glance

EIN
042867643
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Danvers, MA, USA
Phone
9787624878
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$90,256
Expenses
$119,095
Assets
$449,702
Liabilities
$700,980

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JO ANN SIMONS (PRESIDENT/DIRECTOR)

Highest reported compensation

  • JO ANN SIMONS (PRESIDENT/DIRECTOR): $622,520 total reported compensation
  • CYNTHIA PARK (CLERK/DIRECTOR): $258,597 total reported compensation
  • JOANNE PLOURDE (TREASURER/DIRECTOR (UNTIL 10/2024)): $169,532 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 hold real estate for a related 501(3)(c) organization, northeast arc, inc.'s hud program. The properties consist of one residential home and three condo units.

What it reported doing in 2024

Real estate - residential options, inc. Owns three condo units and a residential building which is home to seven individuals with disabilities who are receiving services through programs operated by northeast arc, inc., an affiliated 501(c)(3) non-profit corporation.

Operating model

Revenue model
Earned-program. 100% 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 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: 88
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 30
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.6%; rating input score 96
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: -32%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 3.78; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 1.56; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 219.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: -3.1% per year; rating input score 0; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.6% of spending went to programs
  • Governance: 2 of 2 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $114K in reported program spending
  • Leadership: top reported pay $623K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.