Way Finders Inc
- Assets
- $64.8m
- Revenue
- $108.4m
- Investments
- $142.5k
- Employees
- 309
- Location
- Springfield, MA
- Founding
- 04/1994
- Data as of
- 06/2021
- EIN
- 04-2518368
Organization Overview
Way Finders Inc is located in Springfield, MA. The organization was established in 1994. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Way Finders Inc employed 309 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Way Finders Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Way Finders Inc generated $108.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $105.1m during the year ending 06/2021. While expenses have increased by 7.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Way Finders Inc has awarded 73 individual grants totaling $6,643,506. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
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.
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Gagliardi Former President & CEO | 40 | $201,775 | |
Pascale Desir Non-Voting Asst. Secretary & Chief Le | OfficerTrustee | 40 | $145,465 |
Peter Graham President Of Mbl Housing & | 1 | $130,288 | |
Michelle Mcadaragh Sr. VP Of Real Estate Dev | 40 | $130,072 | |
Raymond Lanza-Weil President Of Common Capital | 1 | $125,863 | |
Megan Talbert Chief Development Officer | Officer | 40 | $116,676 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dietz & Co Architects Architecture | 6/29/21 | $955,791 |
Daniel Dennis & Company Llp Audit And Tax | 6/29/21 | $106,910 |
Daniel Dennis & Company Llp Audit And Tax | 6/29/21 | $106,910 |
Dietz & Co Architects Architecture | 6/29/21 | $955,791 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,093,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $106,093,175 |
| Total Program Service Revenue | $1,971,191 |
| Investment income | $327,520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,391,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $177,959 |
| Grants and other assistance to domestic individuals. | $76,015,546 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,035,949 |
| Compensation of current officers, directors, key employees. | $1,035,949 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,749,253 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,728,161 |
| Payroll taxes | $1,146,102 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,315 |
| Fees for services: Accounting | $109,217 |
| Fees for services: Lobbying | $420 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $778,297 |
| Advertising and promotion | $316,186 |
| Office expenses | $461,690 |
| Information technology | $176,303 |
| Royalties | $0 |
| Occupancy | $1,123,586 |
| Travel | $40,360 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,505 |
| Interest | $606,008 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $303,534 |
| Insurance | $183,135 |
| All other expenses | $386,996 |
| Total functional expenses | $105,109,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,668,374 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,510,035 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,261,512 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $177,945 |
| Net Land, buildings, and equipment | $5,318,810 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $142,530 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,753,839 |
| Total assets | $64,833,045 |
| Accounts payable and accrued expenses | $4,457,450 |
| Grants payable | $0 |
| Deferred revenue | $7,245 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $785,604 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,896,894 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,595,798 |
| Total liabilities | $47,742,991 |
| Net assets without donor restrictions | $12,644,568 |
| Net assets with donor restrictions | $4,445,486 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $64,833,045 |
Grants Awarded
Over the last fiscal year, Way Finders Inc has awarded $355,918 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Holyoke, MA PURPOSE: FAIR HOUSING EDUCATION | $50,225 |
Holyoke, MA PURPOSE: FAIR HOUSING EDUCATION | $50,225 |
Springfield, MA PURPOSE: MOMSQUAD FOR HOMELESS FAMILIES | $50,000 |
Springfield, MA PURPOSE: MOMSQUAD FOR HOMELESS FAMILIES | $50,000 |
BERKSHIRE COUNTY REGIONAL HOUSING AUTHORITY PURPOSE: FORECLOSURE PREVENTION | $46,822 |
BERKSHIRE COUNTY REGIONAL HOUSING AUTHORITY PURPOSE: FORECLOSURE PREVENTION | $46,822 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Way Finders Inc has recieved totaling $1,479,681.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $594,162 |
Massmutual Foundation Inc Springfield, MA PURPOSE: EXEMPT PURPOSE | $590,000 |
Tufts Health Plan Foundation Inc Canton, MA PURPOSE: Flexing Civic Muscle Two | $65,000 |
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING COUNSELING PROGRAM & ADMINISTRATION | $62,726 |
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING STABILIZATION (FORECLOSURE & EVICTION) | $56,395 |
Community Foundation Of Western Massachusetts Springfield, MA PURPOSE: HUMAN SERVICES | $34,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Way Finders Inc Springfield, MA | $64,833,045 | $108,391,886 |
Community Builders Inc Boston, MA | $148,217,575 | $87,790,279 |
Doe Fund Inc New York, NY | $135,128,444 | $76,076,390 |
First Chinese Presbyterian Community Affairs Home Attendant C New York, NY | $26,741,134 | $40,973,137 |
Corporation For Supportive Housing New York, NY | $191,922,281 | $44,983,722 |
Harbor Homes Inc Nashua, NH | $29,802,318 | $34,009,669 |
Lantern Community Services Inc New York, NY | $8,603,902 | $30,172,757 |
Pathstone Corporation Rochester, NY | $88,645,469 | $21,347,590 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |