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Nonprofiteer
← WAY FINDERS INC

Form 990 for tax year 2022

Filed by WAY FINDERS INC.

Totals

Total revenue
$113,124,627
Total expenses
$112,785,347
Contributions and grants received
$109,970,734
Grants paid
$84,202,469
Program service revenue
$2,792,728
Investment income
$361,165
Other revenue
$0
Total assets, end of year
$69,807,818
Total liabilities, end of year
$52,169,411
Net assets or fund balances, end of year
$17,638,407
Program services expenses (Part IX)
$108,937,785
Management and general expenses
$3,422,649
Fundraising expenses
$424,913
Program service expenses (Part III)
$108,937,785

Program services were 96.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $106,163,979

  • 1f · All other contributions, gifts and grants

    $3,806,755

  • 2a · Program service revenue: REAL ESTATE DEVELOPMENT REVENUE

    total $1,129,415 · related or exempt $1,129,415

  • 2b · Program service revenue: PROPERTY MANAGEMENT REVENUE

    total $645,666 · related or exempt $645,666

  • 2c · Program service revenue: RENTAL REVENUE

    total $623,989 · related or exempt $623,989

  • 2f · All other program service revenue

    total $393,658 · related or exempt $393,658

  • 3 · Investment income

    total $361,165 · related or exempt $288,017 · excluded $73,148

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $235,753 · program services $235,753

  • 2 · Grants to domestic individuals

    total $83,966,716 · program services $83,966,716

  • 5 · Compensation of officers, directors and key employees

    total $1,146,095 · management and general $1,146,095

  • 7 · Other salaries and wages

    total $13,762,943 · program services $11,752,604 · management and general $1,757,269 · fundraising $253,070

  • 9 · Other employee benefits

    total $1,742,122 · program services $1,576,197 · management and general $147,626 · fundraising $18,299

  • 10 · Payroll taxes

    total $1,379,649 · program services $1,106,543 · management and general $249,879 · fundraising $23,227

  • 11b · Fees: legal

    total $67,181 · program services $39,524 · management and general $27,657

  • 11c · Fees: accounting

    total $90,859 · program services $89,751 · management and general $114 · fundraising $994

  • 11d · Fees: lobbying

    total $435 · management and general $435

  • 11g · Fees: other

    total $1,788,434 · program services $1,385,643 · management and general $401,312 · fundraising $1,479

  • 12 · Advertising and promotion

    total $213,042 · program services $167,124 · management and general $44,913 · fundraising $1,005

  • 13 · Office expenses

    total $582,727 · program services $457,078 · management and general $121,837 · fundraising $3,812

  • 14 · Information technology

    total $36,475 · program services $1,039,300 · management and general -$1,015,153 · fundraising $12,328

  • 16 · Occupancy

    total $1,145,324 · program services $1,490,334 · management and general -$361,249 · fundraising $16,239

  • 17 · Travel

    total $113,540 · program services $95,115 · management and general $17,982 · fundraising $443

  • 19 · Conferences, conventions and meetings

    total $174,491 · program services $111,900 · management and general $61,383 · fundraising $1,208

  • 20 · Interest

    total $770,146 · program services $440,716 · management and general $329,430

  • 22 · Depreciation, depletion and amortization

    total $607,453 · program services $177,327 · management and general $358,110 · fundraising $72,016

  • 23 · Insurance

    total $248,288 · program services $163,178 · management and general $84,284 · fundraising $826

  • 24a · Other expenses: PROGRAM EXPENSES

    total $4,279,590 · program services $4,201,075 · management and general $70,623 · fundraising $7,892

  • 24b · Other expenses: DUES AND FEES

    total $348,521 · program services $64,592 · management and general $275,575 · fundraising $8,354

  • 24c · Other expenses: TAXES

    total $53,991 · program services $53,991

  • 24d · Other expenses: PROVIDER REIMBURSEMENT

    total $44,643 · program services $44,643

  • 24e · All other expenses

    total -$13,071 · program services $278,681 · management and general -$295,473 · fundraising $3,721

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,246,128 · end of year $21,055,005

  • 4 · Accounts receivable

    beginning of year $4,801,916 · end of year $5,975,866

  • 7 · Other notes and loans receivable

    beginning of year $20,745,503 · end of year $20,685,703

  • 9 · Prepaid expenses and deferred charges

    beginning of year $308,080 · end of year $505,822

  • 10a · Land, buildings and equipment: cost or other basis

    $10,620,434

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,038,888

  • 10c · Land, buildings and equipment, net

    beginning of year $5,967,392 · end of year $5,581,546

  • 12 · Investments: other securities

    beginning of year $142,530 · end of year $142,530

  • 14 · Intangible assets

    beginning of year $145,190 · end of year $92,394

  • 15 · Other assets

    beginning of year $7,862,863 · end of year $15,768,952

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,014,806 · end of year $2,879,877

  • 19 · Deferred revenue

    beginning of year $49,158 · end of year $31,287

  • 21 · Escrow or custodial account liability

    beginning of year $631,876 · end of year $463,576

  • 23 · Secured mortgages and notes payable

    beginning of year $15,190,322 · end of year $16,708,133

  • 25 · Other liabilities

    beginning of year $20,034,313 · end of year $32,086,538

  • 27 · Net assets without donor restrictions

    beginning of year $13,941,458 · end of year $12,908,350

  • 28 · Net assets with donor restrictions

    beginning of year $3,357,669 · end of year $4,730,057

Mission and programs · 2022

Mission

WAY FINDERS, INC. PROVIDES AFFORDABLE HOUSING OPPORTUNITIES, EDUCATION AND SUPPORT; ENABLING PEOPLE TO ACHIEVE A BETTER FUTURE AND PROMOTING VIBRANT, DIVERSE COMMUNITIES.

Activities or mission (Part I)

WAY FINDERS, INC. IS A NOT-FOR-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE HOUSING ASSISTANCE AND TECHNICAL ASSISTANCE TO LOW-INCOME AND DISABLED INDIVIDUALS IN WESTERN MASSACHUSETTS.

  • RENTAL ASSISTANCE PROGRAMS PROVIDE RENT SUPPLEMENTS TO QUALIFIED LOW-INCOME HOUSEHOLDS UNDER PROGRAMS SUBSIDIZED BY FEDERAL AND STATE FUNDS. A VARIETY OF SUPPORTIVE SERVICES ARE PROVIDED TO RENTAL ASSISTANCE PARTICIPANTS.

    Expenses $56,031,915 · Grants $50,678,913 · Revenue $23,673

  • CLIENT SERVICES INCLUDE TEMPORARY SHELTER AND SUPPORTIVE SERVICES FOR THE HOMELESS AND TRANSITIONAL HOUSING AND SUPPORTIVE SERVICES FOR VICTIMS OF DOMESTIC VIOLENCE AND OTHER FORMERLY HOMELESS FAMILIES. WAY FINDERS PROVIDES A WIDE VARIETY OF INFORMATION AND REFERRAL SERVICES, HOUSING COUNSELING AND EDUCATION SERVICES FOR TENANTS AS WELL AS ACCESS TO FINANCIAL ASSISTANCE TO HELP FAMILIES AND INDIVIDUALS AVOID HOMELESSNESS. THE SERVICES ARE FUNDED THROUGH FEDERAL AND STATE PROGRAMS AND PRIVATE GRANTS AND DONATIONS.

    Expenses $47,898,773 · Grants $33,516,056 · Revenue $173,176

  • REAL ESTATE DEVELOPMENT SERVICES INCLUDE BOTH NEW CONSTRUCTION AND PURCHASE AND REHABILITATION TO PROVIDE AFFORDABLE INDIVIDUAL, SINGLE FAMILY AND MULTI-FAMILY RENTAL HOUSING AND AFFORDABLE OWNER OCCUPIED HOUSING. THESE ACTIVITIES ARE FINANCED BY ACCESSING FEDERAL AND STATE PROGRAMS AND PRIVATE LENDERS. RENTAL MANAGEMENT SERVICES ARE PROVIDED TO VARIOUS AFFORDABLE HOUSING PROJECTS. WAY FINDERS AND ITS SUBSIDIARIES OWN A DIRECT OR INDIRECT INTEREST IN MOST OF THE PROJECTS DEVELOPED BY WAY FINDERS. THESE EFFORTS ARE AIMED AT ENSURING THAT THE PROPERTIES MEET THE NEEDS OF THEIR LOW TO MODERATE INCOME RESIDENTS AS WELL AS MAINTAINING THE FINANCIAL VIABILITY OF THESE PROPERTIES IN THE FUTURE.

    Expenses $3,391,684 · Revenue $2,174,344

  • RENTAL PROPERTIES PROVIDE AFFORABLE HOUSING TO ELIGIBLE TENANTS UNDER SHORT-TERM OPERATING LEASES. RENTAL PROPERTIES INCLUDE PROPERTIES WHOLLY OWNED BY WAY FINDERS.

    Expenses $741,313 · Revenue $581,830

  • HOME OWNERSHIP SERVICES INCLUDE EDUCATION AND COUNSELING FOR FIRST-TIME HOMEBUYERS, POST-PURCHASE AND FORECLOSURE PREVENTION COUNSELING, AND EDUCATION SERVICES FOR RENTAL PROPERTY OWNERS. WAY FINDERS ALSO PROVIDES ACCESS TO FINANCIAL RESOURCES FOR DOWN PAYMENT AND CLOSING COSTS, TO ADDRESS LEAD-PAINT HAZARDS IN THE HOME, AND FOR HOME MODIFICATION LOANS FOR THE DISABLED.

    Expenses $874,100 · Grants $7,500 · Revenue $127,722

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lee Ann Pasquini

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Andrew Moorehouse

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jim Broderick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jenna Tetreault

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • James Sherbo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Rondey Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Harry Montalvo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Marta Alverez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Erica True

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2
  • Leonard Underwood

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2
  • Adlyn Colon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Karon Tyler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Rosemary Morin

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2
  • Pascale Desir Non-Voting

    ASST. SECRETARY & CHIEF LE

    Total calculated
    $158,623
    From this org
    $147,745
    From related orgs
    $0
    Other
    $10,878
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,745
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,878
    Filer's total
    $158,623
  • Lidya Rivera-Early

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jasmine Matta-Naylor

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2
  • George D Rosa

    TREASURER

    Total calculated
    $0
    Hours/week
    2
  • Jim Hickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Denise Cogman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Derek J Morris

    CHIEF FINANCIAL OFFICER

    Total calculated
    $170,859
    From this org
    $155,185
    From related orgs
    $0
    Other
    $15,674
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,185
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,674
    Filer's total
    $170,859
  • Laureen Borgatti

    CHIEF OPERATING OFFICER

    Total calculated
    $177,444
    From this org
    $159,870
    From related orgs
    $0
    Other
    $17,574
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,870
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,574
    Filer's total
    $177,444
  • Janette Vigo

    CHIEF PROGRAM OFFICER

    Total calculated
    $132,104
    From this org
    $126,006
    From related orgs
    $0
    Other
    $6,098
    Hours/week
    40
  • Keith Fairey

    PRESIDENT AND CEO

    Total calculated
    $237,842
    From this org
    $222,645
    From related orgs
    $0
    Other
    $15,197
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,645
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,197
    Filer's total
    $237,842
  • Anni Zhu

    CHIEF OF STAFF

    Total calculated
    $128,299
    From this org
    $122,761
    From related orgs
    $0
    Other
    $5,538
    Hours/week
    40
  • Diane Smith

    CHIEF REAL ESTATE OFFICER

    Total calculated
    $158,869
    From this org
    $152,771
    From related orgs
    $0
    Other
    $6,098
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,771
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,098
    Filer's total
    $158,869
  • John Bidwell

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $0
    Hours/week
    40
  • Megan Talbert

    FORMER CHIEF DEVELOPMENT OFFICER

    Total calculated
    $134,777
    From this org
    $120,945
    From related orgs
    $0
    Other
    $13,832
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,945
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,832
    Filer's total
    $134,777

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS ESTABLISHED AND APPROVED BY THE BOARD. THE BOARD DELEGATES APPROVAL OF THE COMPENSATION OF OTHER TOP MANAGEMENT OFFICIALS, WHICH IS THEN REVIEWED BY A COMMITTEE OF THE BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CHICOPEE KENDALL LLC

    INVESTMENT IN LOW INCOME HOUSING · MA · assets $79,343

    Directly controlled by WAY FINDERS INC

  • PARADISE PONDS LLC

    LOW INCOME HOUSING · MA · income $191,636 · assets $1,753,566

    Directly controlled by WAY FINDERS INC

  • WHITCOMBS WALNUT LLC

    INVESTMENT IN LOW INCOME HOUSING · MA

    Directly controlled by WAY FINDERS INC

  • MBL HOUSING & DEVELOPMENT LLC

    DEVELOPMENT OF AFFORDABLE HOUSING · MA · income $378,522 · assets $730,185

    Directly controlled by WAY FINDERS INC

  • FULLER FUTURE LLC

    DEVELOPMENT OF AFFORDABLE HOUSING · MA · assets $1,640,583

    Directly controlled by WAY FINDERS INC

  • LC2 HOYOKE LLC

    DEVELOPMENT OF AFFORDABLE HOUSING · MA · assets $2,606,058

    Directly controlled by WAY FINDERS INC

  • WF REAL ESTATE HOLDING LLC

    DEVELOPMENT OF AFFORDABLE HOUSING · MA

    Directly controlled by WAY FINDERS INC

  • SPRINGFIELD CTY OF HOMES DEVELOPMENT LLC

    DEVELOPMENT OF AFFORDABLE HOUSING · MA

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • BUTTERNUT PROPERTIES LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income $200,088 · share of assets $4,049,257

    Directly controlled by WHITCOMB WALNUT LLC

  • LIVE PLEASANT LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • NEWCOURT TERRACE LLC

    LOW INCOME HOUSING · MA

  • VERANO APARTMENTS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • CHURCH STREET SCHOOL LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • CBA HOUSING LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • OLYMPIA AMHERST LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • PARSONS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • KENQUAD LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • DWIGHT CLINTON JOINT VENTURE

    RELATED · LOW INCOME HOUSING · MA · 50% owned · share of income $3,475 · share of assets $578,516 · general or managing partner

    Directly controlled by WAY FINDERS INC

  • LUMBER YARD NORTHAMPTON LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • LIBRARY COMMONS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • LUMBER MASTER LLC

    RELATED · LEASE COMMERCIAL AND OFFICE SPACE · MA · 51% owned · share of income $2,187 · share of assets $6,220 · general or managing partner

    Directly controlled by WAY FINDERS INC

  • SERGEANT HOUSE LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • WINDRUSH COMMONS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • WINDRUSH COMMONS GP LLC

    RELATED · INVESTMENT IN LOW INCOME HOUSING · MA · 51% owned · general or managing partner

    Directly controlled by WAY FINDERS INC

  • ROSEWOOD WAY TOWN HOMES LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MA · 99.99% owned

    Directly controlled by WAY FINDERS INC

  • ROSEWOOD WAY LLC

    RELATED · INVESTMENT IN LOW INCOME HOUSING · MA · 79% owned · general or managing partner

    Directly controlled by WAY FINDERS INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HAP COMMUNITY HOUSING SERVICES INC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 100% owned · share of income $290,601 · share of assets $1,583,819

    Directly controlled by WAY FINDERS INC

  • BELMONT BYERS LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 79% owned · share of income $1

    Directly controlled by WAY FINDERS INC

  • BUTTERNUT HOUSING INC

    C · INVESTMENT IN LOW INCOME HOUSING · MA

  • KIBBE COURT INC

    C · INVESTMENT IN LOW INCOME HOUSING · MA

  • VERANO INC

    C · INVESTMENT IN LOW INCOME HOUSING · MA

  • GREENVILLE PARK LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 79% owned

    Directly controlled by WAY FINDERS INC

  • CBA CHARLTON HOUSING INC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 79% owned

    Directly controlled by WAY FINDERS INC

  • OLYMPIA DRIVE 85 LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 79% owned · share of income $1

    Directly controlled by WAY FINDERS INC

  • PARSONS VILLAGE LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 51% owned

    Directly controlled by WAY FINDERS INC

  • PLEASANT CROSSINGS LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 79% owned · share of assets $15,514

    Directly controlled by WAY FINDERS INC

  • SERGEANT HOUSE GP LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 51% owned

    Directly controlled by WAY FINDERS INC

  • LUMBER YARD 256 LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 51% owned · share of assets $1,559

    Directly controlled by WAY FINDERS INC

  • LIBRARY COMMONS LLC

    C · INVESTMENT IN LOW INCOME HOUSING · MA · 100% owned

    Directly controlled by WAY FINDERS INC

Provenance

Return type
form_990
Tax year
2022
Filed
30 April 2024
IRS schema version
2022v5.0
Source object
202421229349301802

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