Webster Towers Inc C/o Hbs Management Company

Nonprofit profile at a glance

EIN
232742809
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Scranton, PA, USA
Phone
5703460759
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$908,897
Expenses
$807,019
Assets
$1,753,082
Liabilities
$286,351

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

Leadership & pay

15 people listed

Executive titles in this filing

  • MICHAEL GREENSTEIN (PRESIDENT)

People named in this filing

  • SHEILA NUDELMAN ABDO (DIRECTOR)
  • DAVID ANDERSON (DIRECTOR)
  • DANIEL CECCACCI (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

Webster's mission as a not-for-profit entity is to provide affordable housing for elderly residents of the greater scranton area of Pennsylvania, that is comfortable, clean, modern, and safe. The organization fulfills its mission by continually reinvesting in the aesthetic and physical quality of its 85 residential units, while charging rents that are consistently lower than prevailing market rent rates in the region, thus making the units affordable for current and potential tenants with lower incomes.

What it reported doing in 2024

Webster towers provided 85 units of affordable, comfortable, clean, modern, and safe housing to elderly residents of the city of scranton. The organization made the units affordable to its elderly tenants by charging monthly rents in compliance with u.s. Hud guidelines, which were continually lower than prevailing market rental rates. The organization made its affordable housing comfortable, clean, and modern by investing 1,367,000 in property and equipment additions and renovations during the last 7 years. As a result of these additions and renovations, the organization's housing facility is a source of pride and beauty for its residents and the community at large, while still providing elderly citizens with lower incomes the ability to reside here.

Operating model

Revenue model
Earned-program. 96% 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. Liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.1%; rating input score 88
  • Program expense ratio: 100%; rating input score 100
  • 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: 7 of 7 controls in place; rating input score 100
    • 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: Pass

Sustainability

  • Operating margin: 11.2%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 2.17; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 88.1% of revenue deployed · 100% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $807K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 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.

  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.