Way Finders Inc
96% goes to programs $1 to raise $100 Growing revenue
Way Finders Inc is a 501(c)(3) organization based in Springfield, Massachusetts, registered in 1994, with $129,839,663 in FY2023 revenue. CharityIndex grades it A, and it directs about 96% of spending to programs.
1780 Main St, Springfield, MA, 01103 EIN 04-2518368 Since 1994
Revenue (FY2023)
$129.8M
▲ 14.8% vs prior year
Housing median: $408K
Expenses (FY2023)
$129.3M
Net assets
$18.2M
Employees
461
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating96% to programs · $1 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Way Finders Inc: 96% to programs · $1 to raise $100 earns a A+ on this criterion. See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Way Finders Inc: 2 mo reserves · +0% margin earns a B on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Way Finders Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Way Finders Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
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.
What they do
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 properties provide afforable housing to eligible tenants under short-term operating leases. rental properties include properties wholly owned by way finders.
Contact & location
- Address
- 1780 Main St, Springfield, MA, 01103
- City
- Springfield
- State
- Massachusetts
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $61.8M (FY2013) to $129.8M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $52.8MNet assets $18.2M
Operating margin
0.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$71.0M
Total liabilities
$52.8M
Net assets
$18.2M
Salaries & benefits
$21.4M
17% of expenses
Board members
18
18 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $129,839,663▲14.8% | $129,290,056▲14.6% | $18,188,014▲3.1% | $71,013,532▲1.7% | 990 |
| 2022 | $113,124,627▼32.9% | $112,785,347▼33.0% | $17,638,407▲2.0% | $69,807,818▲24.2% | 990 |
| 2021 | $168,594,430▲55.5% | $168,385,357▲60.2% | $17,299,127▲1.2% | $56,219,602▼13.3% | 990 |
| 2020 | $108,391,886▲38.6% | $105,109,255▲35.3% | $17,090,054▲23.8% | $64,833,045▲28.9% | 990 |
| 2019 | $78,199,932▼3.9% | $77,677,458▼0.3% | $13,807,423▲3.9% | $50,310,773▲5.7% | 990 |
| 2018 | $81,397,275▲13.6% | $77,895,462▲10.0% | $13,284,949▲35.8% | $47,619,733▲39.7% | 990 |
| 2017 | $71,634,248▲5.9% | $70,818,652▲3.5% | $9,783,136▲4.0% | $34,093,563▲10.7% | 990 |
| 2015 | $67,623,473▲10.5% | $68,397,527▲11.9% | $9,403,126▼7.6% | $30,788,236▲15.9% | 990 |
| 2014 | $61,206,524▼0.9% | $61,115,709▲0.4% | $10,177,180▲7.4% | $26,554,463▲6.3% | 990 |
| 2013 | $61,758,669 | $60,842,154▼0.2% | $9,471,832▲10.7% | $24,977,801▲10.2% | 990 |
| 2012 | — | $60,982,952▲12.9% | $8,555,317▲7.0% | $22,674,565▼0.5% | 990 |
| 2011 | — | $54,029,177▲8.2% | $7,992,485▲5.7% | $22,799,674▲20.9% | 990 |
| 2010 | — | $49,912,297▲8.7% | $7,558,323▲10.4% | $18,853,461▲1.1% | 990 |
| 2009 | — | $45,907,194 | $6,847,301 | $18,643,345 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Keith Fairey — $226,569 (0.18% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Keith Fairey | President and Ceo | 40 | $226,569 |
| Laureen Borgatti | Chief Operating Officer | 40 | $163,446 |
| Derek J Morris | Chief Financial Officer | 40 | $162,698 |
| Pascale Desir Non-voting | Asst. Secretary & Chief Le | 40 | $149,645 |
| Erica Simmonette | Chief People & Administrative Officers | 40 | $131,710 |
| Janette Vigo | Chief Program Officer | 40 | $130,320 |
| John Bidwell | Chief Development Officer | 40 | $128,440 |
| Anni Zhu | Chief of Staff | 40 | $117,292 |
| Adlyn Colon | Director | 2 | — |
| Alice Raymond | Director | 2 | — |
| Amber Coughlin | Director | 2 | — |
| Andrew Moorehouse | Director | 2 | — |
| Denise Cogman | Secretary | 2 | — |
| Erica True | Vice Chairperson | 2 | — |
| George D Rosa | Treasurer | 2 | — |
| Harry Montalvo | Director | 2 | — |
| Jasmine Matta-naylor | Chairperson | 2 | — |
| Jenna Tetreault | Director | 2 | — |
| Jim Broderick | Director | 2 | — |
| Jim Hickson | Director | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Narrow Gate Architects | Architecture | $656,308 |
| Sni Companies | Temporary Services | $353,551 |
| Dietz & Co Architects | Architecture | $246,721 |
| Enlace De Familias | Programatic Services | $216,600 |
| Sourcepass Inc | It Consulting | $182,036 |
Grants received · $11.4M total
39 grants to Way Finders Inc totaling $11.4M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Online Giving Foundation Inc | General support | 2024 | $2,153,076 |
| Impactassets Inc | General support | 2024 | $30,000 |
| Neighborhood Reinvestment Corp | General support | 2023 | $378,000 |
| American Online Giving Foundation Inc | General support | 2023 | $93,703 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $32,400 |
| American Online Giving Foundation Inc | General support | 2022 | $2,091,395 |
| Neighborhood Reinvestment Corp | General support | 2022 | $452,750 |
| Local Initiatives Support Corporation | See part iv | 2022 | $78,100 |
| The Blackbaud Giving Fund | General support | 2022 | $40,000 |
| American Online Giving Foundation Inc | General support | 2021 | $594,162 |
| Neighborhood Reinvestment Corp | General support | 2021 | $557,000 |
| Local Initiatives Support Corporation | See part iv | 2021 | $25,000 |
| Neighborhood Reinvestment Corp | General support | 2020 | $686,500 |
| American Online Giving Foundation Inc | General support | 2020 | $592,387 |
| American Online Giving Foundation Inc | General support | 2020 | $592,387 |
Grants made · $435K in FY2023
5 grants totaling $435K in FY2023. All grants made by Way Finders Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Enlace De Familias De Holyoke Holyoke Family Network Inc | Raft applications | $177,000 |
| Springfield Partners For Community | Raft applications | $123,200 |
| Amherst Community Connections | Raft applications | $86,000 |
| Massachusetts Fair Housing Center Inc | Fair housing education | $41,000 |
| Quaboag Valley Community Development Corporation | Raft applications | $8,200 |
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Frequently asked questions
- Is Way Finders Inc a legitimate nonprofit?
- Yes. Way Finders Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2518368, based in Springfield, Massachusetts. Donations are tax-deductible.
- What is Way Finders Inc's EIN?
- Way Finders Inc's Employer Identification Number (EIN) is 04-2518368.
- How much revenue does Way Finders Inc report?
- Way Finders Inc reported $129,839,663 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Way Finders Inc's spending goes to programs?
- Way Finders Inc spends about 96% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Way Finders Inc have?
- CharityIndex grades Way Finders Inc A, based on program efficiency and fundraising cost.
- How much does Way Finders Inc's highest-paid employee make?
- The highest reported compensation on Way Finders Inc's latest Form 990 is $226,569, paid to Keith Fairey (President and Ceo).
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Explore more
Data for Way Finders Inc (EIN 04-2518368) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.