Way Finders Inc
- Assets
- $56.2m
- Revenue
- $168.6m
- Investments
- $142.5k
- Employees
- 399
- Location
- Springfield, MA
- Founding
- 04/1994
- Data as of
- 06/2022
- 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 06/2022, Way Finders Inc employed 399 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 06/2022, Way Finders Inc generated $168.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $168.4m during the year ending 06/2022. While expenses have increased by 16.2% 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 60 individual grants totaling $5,790,892. 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
2022
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leeann Pasquini Director | Trustee | 2 | $0 |
Jessica Fraga Director | Trustee | 2 | $0 |
Jim Broderick Director | Trustee | 2 | $0 |
Glenn Welch Director | Trustee | 2 | $0 |
James Sherbo Chairperson | OfficerTrustee | 2 | $0 |
Rondey Allen Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dietz & Co Architects Architecture | 6/29/22 | $874,192 |
Roth Staffing Companies Temporary Services | 6/29/22 | $187,470 |
Sni Companies Temporary Services | 6/29/22 | $304,116 |
Jmr Staffing Llc Temporary Services | 6/29/22 | $141,722 |
Fio Partners Strategic Planning | 6/29/22 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $164,331,265 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,765,372 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,096,637 |
| Total Program Service Revenue | $2,129,893 |
| Investment income | $367,900 |
| 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 | $168,594,430 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $77,565 |
| Grants and other assistance to domestic individuals. | $139,731,494 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,100,657 |
| Compensation of current officers, directors, key employees. | $1,100,657 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,702,989 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,845,155 |
| Payroll taxes | $1,378,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $70,259 |
| Fees for services: Accounting | $90,207 |
| Fees for services: Lobbying | $715 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,567,577 |
| Advertising and promotion | $169,184 |
| Office expenses | $590,758 |
| Information technology | $31,140 |
| Royalties | $0 |
| Occupancy | $1,062,278 |
| Travel | $63,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $119,936 |
| Interest | $650,472 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $392,567 |
| Insurance | $181,594 |
| All other expenses | $45,016 |
| Total functional expenses | $168,385,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,246,128 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,801,916 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,745,503 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $308,080 |
| Net Land, buildings, and equipment | $5,967,392 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $142,530 |
| Investments—program-related | $0 |
| Intangible assets | $145,190 |
| Other assets | $7,862,863 |
| Total assets | $56,219,602 |
| Accounts payable and accrued expenses | $3,014,806 |
| Grants payable | $0 |
| Deferred revenue | $49,158 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $631,876 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,190,322 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,034,313 |
| Total liabilities | $38,920,475 |
| Net assets without donor restrictions | $13,941,458 |
| Net assets with donor restrictions | $3,357,669 |
| 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 | $56,219,602 |
Grants Awarded
Over the last fiscal year, Way Finders Inc has awarded $77,303 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SPRINGFIELD DAY NURSERY PURPOSE: MOMSQUAD FOR HOMELESS FAMILIES | $50,000 |
MASSACHUSETTS FAIR HOUSING CENTER PURPOSE: FAIR HOUSING EDUCATION | $27,303 |