The Drew Farmhouse Inc

Nonprofit profile at a glance

EIN
932701151
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Westford, MA, USA
Phone
9786922039
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$372,229
Expenses
$532,601
Assets
$1,234,874
Liabilities
$1,185,722

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Ellen S Harde (President Board of Directors)

People named in this filing

  • Ellen S Harde (President Board of Directors)
  • Cheryl Major (Treasurer Board of Directors)
  • Jan Houston Smith (Clerk, Board of Directors)

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

The Drew Farmhouse Inc exists to undertake the planning, design, development, construction, ownership and operation of a proposed 5-unit workforce affordable housing development and to utilize the 1865 Drew Farmhouse at 70 Boston Road, Westford MA for the proposed housing thereby preserving the historic exterior visible from the public way, and to coordinate with any public or private organization, any charitable or nonprofit corporation or organization of the Town of Westford for achievement of these stated goals.

What it reported doing in 2024

In March 2025 work was completed to create five affordable apartments in the former Drew Farmhouse and our certificate of occupancy was issued in April. In May 2025, four renters were moved in and applications were being reviewed for the fifth renter. Our affordable housing partner, the nonprofit Habitat for Humanity of Greater Lowell, continues their renovation of the Drew Farmhouse barn into two three-bedroom affordable homes in for ownership by two Habitat-eligible families. Habitat occupancy is anticipated in the spring of 2026.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
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: 89
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 30
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -43.1%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 2.32; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.96; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 110.2% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -3.3% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $533K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 1 contractor listed · $116K reported
  • Consistency: 42 of 42 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.