Wit Realty Corp
Nonprofit profile at a glance
- EIN
- 043105106
- IRS 990 coverage
- 2009–2009
- Forms available
- Form 990 2009
- Location
- Boston, MA, USA
- Phone
- 6179894325
- Rating confidence
- Limited
- Sector
- Real Estate Associations
Reported finances
- Revenue
- $-57,262
- Expenses
- $0
- Assets
- $0
- Liabilities
- $1,425,308
Source: IRS Form 990. Selected filing: tax year 2009. Amounts in USD.
Leadership & pay
5 people listed
Source: IRS Form 990. Selected filing: tax year 2009. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Acquisition and maintenance of real estate properties.
What it reported doing in 2009
The Corporation held title to various real estate properties used by Wentworth Institute of Technology, Inc. in furtherance of its exempt purpose. The properties consisted of residential rental properties used by Wentworth Institute of Technology for student housing, as well as vacant parcels that serve as a buffer between the Institute's campus and the neighboring community. All remaining properties were transferred to the Wentworth Institute of Technology, Inc. during the fiscal year ended June 30, 2010.
Operating model
- Revenue model
- No positive adjusted resources. The filing reports no positive adjusted operating resources.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 93
- Accountability: 42
- Sustainability: 12
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
- Pay-setting controls: 6 of 6 controls in place; rating input score 100
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -100%; rating input score 25; 25th percentile among comparable filings
- Total-asset coverage ratio: Limited
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 1 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $256K · 5 people listed · 6 of 6 pay-setting controls reported
- Consistency: 8 of 8 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Related organizations: 1 filed related-organization link
- 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 — Accountability: Independent voting board scored 0/100.
- High — Sustainability: Operating margin scored 25/100.