Westover Metropolitan Development Corp

Nonprofit profile at a glance

EIN
042553520
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicopee, MA, USA
Phone
4135936421
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$2,719,237
Expenses
$2,531,074
Assets
$19,141,560
Liabilities
$3,346,779

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Andy Widor (CEO)

Highest reported compensation

  • Andy Widor (CEO): $174,996 total reported compensation

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

Overview

Mission

Aid private enterprise in the conversion and redevelopment of lands formerly used at Westover Air Force Base to nonmilitary use in order to reduce unemployment and economic blight.

What it reported doing in 2024

Industrial park land sales, rentals, and development activities to expand economic opportunity in the community.

Operating model

Revenue model
Other-operating. 82% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 58
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.7%; rating input score 99
  • Program expense ratio: 93.1%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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: 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: 6.9%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 7.56; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -5.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -5.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 98.7% of revenue deployed · 93.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $175K · 10 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $248K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.