The Neighborhood Developers Inc

Nonprofit profile at a glance

EIN
042660283
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chelsea, MA, USA
Phone
6178891375
Rating
71
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$11,543,347
Expenses
$8,949,973
Assets
$43,371,059
Liabilities
$29,265,682

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

Leadership & pay

15 people listed

Executive titles in this filing

  • RAFAEL MARES (EXECUTIVE DIRECTOR)
  • FAYE DOOKHARAN (PRESIDENT)
  • DAKEYA CHRISTMAS (VICE PRESIDENT)

Highest reported compensation

  • RAFAEL MARES (EXECUTIVE DIRECTOR): $299,465 total reported compensation
  • STEVEN LAFERRIERE (DIRECTOR OF RE DEVELOPMENT): $185,719 total reported compensation
  • CASSANDRA JEAN WITTHAUS (SENIOR PROJECT MANAGER): $141,284 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the neighborhood developers, inc (tnd) is to create strong neighborhoods enabling community members to secure a stable home, achieve economic mobility, and determine their own future. Tnd employs four investment strategies to build strong and just neighborhoods: real estate development to expand affordable housing inventory and build equitable neighborhoods; community building to foster leadership development in organizing for self advocacy; financial capabilities and workforce development to increase family prosperity, delivered in collaboration with our connect partners; and resident services, so that the residents of tnd properties succeed at home, school, work and in the community

What it reported doing in 2024

Rental properties - the rental properties through 2021, tnd owned and managed 611 residential apartments that provide an affordable home for low-and-moderate-income individuals and families. A third party vendor, winn residential, provides property management services on our behalf and works closely with tnd's resident services and asset management teams to ensure that our properties provide residents with a high-quality affordable home. Tnd's properties also include eight commercial spaces, providing affordable rents for chelsea businesses.

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 87% 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 most voting board members are independent. The filing does not identify recipients for some grant dollars and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 63
  • Accountability: 95
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.4%; rating input score 60
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: $8.22 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 34.1%; rating input score 34; 10th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 22.5%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 4.85; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.67; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 60.4% of revenue deployed · 72.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 6 filed program accomplishments · $6.5M in reported program spending
  • Leadership: top reported pay $299K · 15 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $2.1M reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 33 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.

  • Moderate — Transparency & Controls: Grant itemization coverage scored 34/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 22/100.