Southeastern Massachusetts Affordab

Nonprofit profile at a glance

EIN
043322638
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Brockton, MA, USA
Phone
5085886880
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$987,482
Expenses
$775,165
Assets
$6,339,295
Liabilities
$2,178,403

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • RICHARD OLSON (PRESIDENT)

People named in this filing

  • THOMAS THIBEAULT (EXECUTIVE DI)
  • RICHARD OLSON (PRESIDENT)
  • DAVID TEIXEIRA (TREASURER)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide housing for low to moderate income people as defined by the department of housing and urban development

What it reported doing in 2025

The organization maintains a program that creates affordable rental homes for low and moderate income individuals by purchasing and rehabilitating multifamily homes within the city of brockton. The organization owns and manages 42 units of residential rental housing. The housing units are rented to tenants who qualify with low to moderate income at reduced rental rates. Operations are further subsidized with section 8 housing assistance. Teh organization also purchases houses under foreclosure to rehabilitate and sell to households whose income meets the affordability requirements in accordance with 24 cfr, part 92.254. The homes are required to remain qualified for the affordability period set forth in the home investment funds grant contract

Operating model

Revenue model
Earned-program. 94% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.8%; rating input score 61
  • Program expense ratio: 82.7%; rating input score 83
  • 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: 90.9%; rating input score 91; 26th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.5%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 8.18; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: -1.8% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 60.8% of revenue deployed · 82.7% of spending went to programs
  • Governance: 10 of 11 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $641K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Highest-paid contractors: 1 contractor listed · $145K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.