The Homestead Inc of Nantucket

Nonprofit profile at a glance

EIN
042103831
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Nantucket, MA, USA
Phone
5082281135
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$448,211
Expenses
$748,348
Assets
$6,925,203
Liabilities
$13,929

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

Leadership & pay

15 people listed

Executive titles in this filing

  • LINDA ROBERTS (PRESIDENT)
  • VINCENT DEBAGGIS (1ST VICE PRESIDENT)
  • MARY HALEY (2ND VICE PRESIDENT/CLERK)

People named in this filing

  • SUSAN CONWAY (DIRECTOR)
  • BARBARA KOTALAC (DIRECTOR)
  • PATRICIA GILES (DIRECTOR)

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

Provide room and board to elderly residents of the community in a home for the aged

What it reported doing in 2024

Provide room & board to residents of a home for the aged

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: 79
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.5%; rating input score 93
  • Program expense ratio: 82.3%; rating input score 82
  • 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: 93.3%; rating input score 93; 26th 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -67%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 9.25; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 92.5% of revenue deployed · 82.3% of spending went to programs
  • Governance: 14 of 15 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $616K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 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 — Sustainability: Operating margin scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.