Retiree Housing of Worcester Inc

Nonprofit profile at a glance

EIN
117239013
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lyndhurst, OH, USA
Phone
2163608333
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$435,770
Expenses
$580,033
Assets
$730,491
Liabilities
$1,844,667

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

Leadership & pay

2 people listed

Executive titles in this filing

  • JOHN JOYCE (PRESIDENT)

People named in this filing

  • JOHN JOYCE (PRESIDENT)
  • JOHN JOYCE JR (VICE PRES/SE)

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

To provide low-income housing for elderly and disabled residents.

What it reported doing in 2024

Provided low income housing for elderly and disabled residents - 24 units.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 53
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.4%; rating input score 98
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 2.53; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 0.9% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.4% of spending went to programs
  • Governance: 1 of 2 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $571K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • 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: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.