Women's Institute Realty of Connecticut Inc

Nonprofit profile at a glance

EIN
331178098
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Boston, MA, USA
Phone
6173670520
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Real Estate Associations

Official website

Reported finances

Revenue
$1,409,759
Expenses
$2,369,917
Assets
$23,353,673
Liabilities
$18,082,593

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

Leadership & pay

10 people listed

Executive titles in this filing

  • CHRISTINE TRACZYK (PRESIDENT)
  • ELIZABETH CRUM (FORMER EXECUTIVE DIRECTOR)
  • ELIZABETH TORRES (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LONI WILLEY (CHIEF OPERATING OFFICER): $161,483 total reported compensation
  • ELIZABETH CRUM (FORMER EXECUTIVE DIRECTOR): $46,289 total reported compensation
  • ELIZABETH TORRES (EXECUTIVE DIRECTOR): $9,213 total reported compensation

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

Overview

Mission

The mission of women's institute realty of Connecticut is to promote economic resilience and stable homes by developing and preserving high quality affordable and supportive housing, with an emphasis on under-served populations.

What it reported doing in 2018

Women's institute realty of Connecticut, inc. Develops real estate to be used for affordable and low-income housing in Connecticut. Wir-ct also receives a government subsidy for rental assistance and congregate services which is re-granted to park city limited partnership's the eleanor

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 79
  • Accountability: 91
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 74th 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -68.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 9.85; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 14.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $161K · 10 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $320K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 12 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.