Spring Meadow Association of Responsible Tenants Inc

Nonprofit profile at a glance

EIN
043159643
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Springfield, MA, USA
Phone
4137835250
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$4,957,050
Expenses
$5,712,815
Assets
$10,895,028
Liabilities
$24,139,581

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

Leadership & pay

7 people listed

Executive titles in this filing

  • KEYA HICKS (PRESIDENT)

People named in this filing

  • KEYA HICKS (PRESIDENT)
  • MARISABEL COLON (VICE PRES./T)
  • RAVEN COLON (CLERK/SECRET)

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 own, rehabilitate and operate an affordable housing project.

What it reported doing in 2024

To provide affordable housing and resident services program to low income families. There are 270 units all two and three bedroom townhouses all occupied by families with children.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 33
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.6%; rating input score 92
  • 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: 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: -15.2%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.91; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 2.22; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5.2M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $1.2M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.