The Somerville Home Inc

Nonprofit profile at a glance

EIN
042105741
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Somerville, MA, USA
Phone
7813205330
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$1,343,182
Expenses
$2,290,943
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • EDWIN J SMITH (PRESIDENT)
  • KELLY SFERRAZZA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KELLY SFERRAZZA (EXECUTIVE DIRECTOR): $128,913 total reported compensation
  • WILLIAM NORRIS (DIRECTOR OF FINANCE): $85,639 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Since 1898, the somerville home, a private nonprofit organization, provided long-term residential care to elderly men and women from somerville and surrounding communities. Somerville was committed to offering senior citizens a reasonably priced option for quality residential services, and believed that our residents should be encouraged to utilize their bodies, minds and spirits to the maximum within the limits of their potential.in november, 2018, somerville merged with riverside community care, inc.

What it reported doing in 2018

Through november 30, 2018, somerville focused on the operation of a 59-bed rest home located in somerville, Massachusetts located at 117 summer street. On november 30, 2018, the organization merged with riverside community care, inc. Riverside has closed the facility for renovations and plans to reopen them in 2020, offering a variety of social services to residents of Massachusetts.

Operating model

Revenue model
Earned-program. 99% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 86
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.9%; rating input score 88
  • Fundraising efficiency: $2.68 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -70.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 9.4%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -11.3% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.9% of spending went to programs
  • Governance: 18 of 18 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $129K · 8 people listed
  • Highest-paid contractors: 2 contractors listed · $565K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.