Saugatucket Springs Inc
Nonprofit profile at a glance
- EIN
- 043733576
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Providence, RI, USA
- Phone
- 4019415900
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $577,399
- Expenses
- $745,144
- Assets
- $4,350,593
- Liabilities
- $7,174,193
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- FRANK SHEA (PRESIDENT)
- VICKIE WALTERS (VICE PRESIDENT)
People named in this filing
- FRANK SHEA (PRESIDENT)
- VICKIE WALTERS (VICE PRESIDENT)
- MICHELLE BROPHY (SECRETARY)
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 to the elderly and disabled in the hopkinton, ri area under section 202 of the national affordable housing act.
What it reported doing in 2024
Provide low income housing to the elderly and disabled in the hopkinton, ri area under section 202 of the national affordable housing act. Owns and operates a 53 unit apartment complex.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 90
- Accountability: 94
- Sustainability: 38
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 87.6%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 7 controls in place; rating input score 86
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -29.1%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 5.84; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 1.65; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 0.1% per year; rating input score 100; 18th percentile among comparable filings
- Revenue growth: 1.1% per year; rating input score 100; 19th percentile among comparable filings
- Asset growth: -2.9% per year; rating input score 0; 10th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 87.6% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $653K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 4 filed schedules
- Filing history: 14 filing years from 2010 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 6/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.