Work Housing Corporation

Nonprofit profile at a glance

EIN
900609374
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Dorchester, MA, USA
Phone
6176911515
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$52,194
Expenses
$99,758
Assets
$1,223,289
Liabilities
$1,533,116

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JAMES CASSETTA (PRESIDENT)
  • ERIC SILBERZWEIG (SENIOR VICE PRESIDENT & CF)

Highest reported compensation

  • JAMES CASSETTA (PRESIDENT): $529,096 total reported compensation
  • ERIC SILBERZWEIG (SENIOR VICE PRESIDENT & CF): $225,051 total reported compensation

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

Overview

Mission

Low income housing

What it reported doing in 2024

Provide 5 units of low income housing to disabled individuals.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 57.3%; rating input score 57
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 64th 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: -91.1%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 12.26; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 1.25; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 48%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 57.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $57K in reported program spending
  • Leadership: top reported pay $529K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.