Shore Courts Inc
Nonprofit profile at a glance
- EIN
- 050504003
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Providence, RI, USA
- Phone
- 4016676502
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $123,474
- Expenses
- $180,150
- Assets
- $711,672
- Liabilities
- $1,459,790
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- Henry Sachs III (President)
Highest reported compensation
- Henry Sachs III (President): $612,588 total reported compensation
- Scott DiChristofero (Former Officer): $188,030 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Shore Courts is organized for charitable purposes to provide physically and mentally impaired persons with low-income housing facilities and access to services which are specifically designed to meet their physical, social, and physiological needs.
What it reported doing in 2024
To provide low-income housing and access to support services to people with physical and psychological challenges. Shore Courts has a total of 11 units located at 7211 Post Road in North Kingstown, Rhode Island. 10 of these 11 units are subsidized through the U.S. Department of Housing & Urban Development. The occupancy rate was 92% during the fiscal year covered in this return. The waiting list as of 6/30/25 consisted of 17 individuals. There were 298 vacant days among the 11 units during the fiscal year covered in this return.
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
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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 65
- Accountability: 88
- Sustainability: 26
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 74.6%; rating input score 75
- 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: 87.5%; rating input score 88; 24th percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- 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: -45.9%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 3.95; rating input score 75; 75th percentile among comparable filings
- Liabilities to assets ratio: 2.05; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 34.1%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 3.7% per year; rating input score 100; 48th percentile among comparable filings
- Revenue growth: -0.2% per year; rating input score 0; 23rd percentile among comparable filings
- Asset growth: -3.2% per year; rating input score 0; 14th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 74.6% of spending went to programs
- Governance: 7 of 8 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $134K in reported program spending
- Leadership: top reported pay $613K · 9 people listed · 0 of 6 pay-setting controls reported
- Consistency: 21 of 21 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 40 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.
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 — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: CEO compensation review process not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- High — Sustainability: Officer compensation ratio scored 9/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.