Way Finders
Family. Neighborhood. Community.
Way Finders
EIN: 04-2518368
as of November 2025
as of November 14, 2025
Mission
We believe everyone deserves the chance to build a stronger future. And we believe our region thrives when we put housing first. Way Finders is an affordable housing organization dedicated to bringing home stability to people across Western Massachusetts since 1972. We work to strengthen housing stability and economic mobility, and to build thriving neighborhoods in communities throughout Western Massachusetts.
Notes from the nonprofit
Way Finders' Annual Report is now digital and FY21 can be found here: https://wayfindersannualreport.org/
Ruling year
1994
Board Chair
Erica True
Main address
1780 Main St
Springfield, MA 01103-1000 USA
EIN
04-2518368
Transitional living
Housing for the homeless
Domestic violence shelters
Community service for youth
Youth services
Population served
Young adults
Children
Working poor
Extremely poor people
Homeless people
NTEE code
Housing Development, Construction, Management (L20)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Affiliations
Programs and results
Reports and documents
Download annual reports Download other documentsWhat we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Rental Assistance
Way Finders is the regional administrator for the Section 8 Housing Choice Voucher and Massachusetts Rental Voucher programs which assist low income families rent decent, safe apartments on the private rental market. Way Finders Family Self-Sufficiency Program helps rental assistance program participants set goals and work towards economic independence and financial self-sufficiency.
Housing Counseling
Way Finders provides first-time homebuyer workshops, financial education, post-purchase counseling, foreclosure prevention counseling, and rental property management education as well as access to affordable mortgage financing and programs that help finance home modifications for those with disabilities.
Affordable Housing Development & Management
Way Finders is the largest nonprofit developer of affordable housing based in western Massachusetts. Projects include affordable rental housing, special needs housing, and homes for first-time homebuyers. Many development projects are part of comprehensive neighborhood revitalization efforts. Way Finders manages over 800 affordable rental units throughout the region.
Emergency & Transitional Housing
Way Finders operates a congregate shelter and leases scattered site apartments as emergency shelter for homeless families with children; Way Finders also operates transitional housing programs for survivors of domestic violence and pregnant and parenting teens.
Housing Consumer Education Center
Way Finders Housing Consumer Education Center provides answers to all types of housing questions to renters, landlords, homebuyers, and homeowners. It also administers a variety of programs aimed at preventing families with children from becoming homeless including emergency financial housing assistance programs. Those programs provide both counseling and direct financial assistance. Way Finders also administers a regional fair housing education and outreach program.
Community Building and Engagement
Since 2011, Way Finders’ Community Building & Engagement team has been meeting residents where they’re at, with an eye toward addressing systems and issues that benefit everyone in the community. We provide the training, tools, and resources to help residents grow into skilled, capable leaders. And we partner with organizations at the national and local levels who share our belief that healthy communities are best built at the community level.
Where we work
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Amherst (Massachusetts, United States)
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Berkshire County (Massachusetts, United States)
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Franklin County (Massachusetts, United States)
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Hampden County (Massachusetts, United States)
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Hampshire County (Massachusetts, United States)
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Holyoke (Massachusetts, United States)
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Northampton (Massachusetts, United States)
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Springfield (Massachusetts, United States)
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Worcester County (Massachusetts, United States)
External assessments
Affiliations & memberships
NeighborWorks America - Member 2008
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
First-time homebuyer graduates purchased home
This metric is no longer tracked.Totals By Year
Related Program
Housing Counseling
Type of Metric
Other - describing something else
Average number of service recipients per month
This metric is no longer tracked.Totals By Year
Type of Metric
Other - describing something else
Direction of Success
Increasing
Context Notes
In FY24, Way Finders impacted the lives of 63,420 individuals.
Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Way Finders’ mission is to “build and advocate for a thriving and equitable region by improving the stability and economic mobility of families and individuals, together with developing and managing a wide range of housing to support strong communities.” Since 1972, Way Finders has committed our resources to eliminating family homelessness, increasing the supply of affordable housing, and bringing comprehensive community initiatives to build and support neighborhoods where all people can live with dignity.
What are the organization's key strategies for making this happen?
Increasing the supply of affordable housing.
Increasing economic mobility for residents in our region through employment support programs, entrepreneurship, and homeownership.
Moving families from homelessness to stable housing through multiple initiatives that include public and private partnerships and support.
Providing resident leadership and advocacy training to empower residents to undertake initiatives to bring desired change to their neighborhoods.
Undertaking comprehensive community development initiatives that recognize the root causes for inequities across all sectors of society.
Creating and sustaining strong partnerships with state, local, and private agencies and organizations, grassroots community groups, businesses, and others who share our values and commitment to working for positive change in our region's cities and towns.
What are the organization's capabilities for doing this?
What have they accomplished so far and what's next?
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback
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What challenges does the organization face when collecting feedback?
It is difficult to get the people we serve to respond to requests for feedback, Technology barriers for clients
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2023 info
0.52
Months of cash in 2023 info
2.3
Fringe rate in 2023 info
21%
Funding sources info
Assets & liabilities info
Financial data
Way Finders
Balance sheetFiscal Year: Jul 01 - Jun 30
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jul 01 - Jun 30
This snapshot of Way Finders’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
Created in partnership with
Business model indicators
| Profitability info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $2,560,287 | $1,165,184 | $4,078,136 | $1,689,457 | -$425,655 |
| As % of expenses | 3.3% | 1.5% | 3.9% | 1.0% | -0.4% |
| Unrestricted surplus (deficit) after depreciation | $2,230,663 | $862,278 | $3,774,602 | $1,296,890 | -$1,033,108 |
| As % of expenses | 2.9% | 1.1% | 3.6% | 0.8% | -0.9% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $81,397,275 | $78,199,932 | $108,391,886 | $168,594,430 | $113,124,627 |
| Total revenue, % change over prior year | 13.6% | -3.9% | 38.6% | 55.5% | -32.9% |
| Program services revenue | 85.8% | 3.5% | 1.8% | 1.3% | 2.5% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.3% | 0.4% | 0.3% | 0.2% | 0.3% |
| Government grants | 2.5% | 88.7% | 92.3% | 97.5% | 93.8% |
| All other grants and contributions | 6.7% | 3.6% | 5.5% | 1.0% | 3.4% |
| Other revenue | 4.8% | 3.9% | 0.0% | 0.0% | 0.0% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $77,565,838 | $77,374,552 | $104,805,721 | $167,992,790 | $112,177,894 |
| Total expenses, % change over prior year | 10.1% | -0.2% | 35.5% | 60.3% | -33.2% |
| Personnel | 15.5% | 17.3% | 14.9% | 11.3% | 16.1% |
| Professional fees | 1.1% | 0.7% | 0.9% | 1.0% | 1.7% |
| Occupancy | 1.1% | 1.2% | 1.1% | 0.6% | 1.0% |
| Interest | 0.6% | 0.8% | 0.6% | 0.4% | 0.7% |
| Pass-through | 66.3% | 68.3% | 72.7% | 83.2% | 75.1% |
| All other expenses | 15.4% | 11.8% | 9.9% | 3.4% | 5.4% |
| Full cost components (estimated) info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $77,895,462 | $77,677,458 | $105,109,255 | $168,385,357 | $112,785,347 |
| One month of savings | $6,463,820 | $6,447,879 | $8,733,810 | $13,999,399 | $9,348,158 |
| Debt principal payment | $0 | $0 | $3,362,625 | $0 | $0 |
| Fixed asset additions | $0 | $333,685 | $1,122,980 | $1,041,149 | $0 |
| Total full costs (estimated) | $84,359,282 | $84,459,022 | $118,328,670 | $183,425,905 | $122,133,505 |
Capital structure indicators
| Liquidity info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Months of cash | 1.9 | 2.3 | 3.2 | 1.2 | 2.3 |
| Months of cash and investments | 1.9 | 2.3 | 3.2 | 1.2 | 2.3 |
| Months of estimated liquid unrestricted net assets | 1.2 | 1.4 | 1.4 | 1.0 | 1.4 |
| Balance sheet composition info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Cash | $12,235,101 | $14,811,303 | $27,668,374 | $16,246,128 | $21,055,005 |
| Investments | $141,510 | $142,530 | $142,530 | $142,530 | $142,530 |
| Receivables | $24,762,761 | $26,211,096 | $24,771,547 | $25,547,419 | $26,661,569 |
| Gross land, buildings, equipment (LBE) | $7,992,867 | $8,326,554 | $9,423,016 | $10,450,964 | $10,620,434 |
| Accumulated depreciation (as a % of LBE) | 44.1% | 46.0% | 43.6% | 42.9% | 47.4% |
| Liabilities (as a % of assets) | 72.1% | 72.6% | 73.6% | 69.2% | 74.7% |
| Unrestricted net assets | $8,007,688 | $8,869,966 | $12,644,568 | $13,941,458 | $12,908,350 |
| Temporarily restricted net assets | $4,125,016 | N/A | N/A | N/A | N/A |
| Permanently restricted net assets | $1,152,245 | N/A | N/A | N/A | N/A |
| Total restricted net assets | $5,277,261 | $4,937,457 | $4,445,486 | $3,357,669 | $4,730,057 |
| Total net assets | $13,284,949 | $13,807,423 | $17,090,054 | $17,299,127 | $17,638,407 |
Key data checks
| Key data checks info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Board Chair
Erica True
Number of employees
Source: IRS Form 990
Way Finders
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
Way Finders
Highest paid employeesSOURCE: IRS Form 990
Compensation data
Way Finders
Board of directorsas of 5/13/2025
Board of directors data
Erica True
MassMutual
Term: 2025 - 2028
Adlyn Colon
Holyoke Community College
Alicia Raymond
TD Bank
Amber Coughlin
Peoples Bank
Andrew Morehouse
The Food Bank of Western MA
Denise Cogman
Springfield School Volunteers
Erica True Board Chair
MassMutual
George Rosa
Citizens Bank
Harry Montalvo
bankESB
James Sherbo
PeoplesBank
Janna Tetreault
Community Action Pioneer Valley
Jessica Fraga
BayState Health
Jim Broderick
TD Bank (Retired)
Jim Hickson
Berkshire Bank
Karon Tyler
Community Resident
Lee Ann Pasquini DIRECTOR
Leonard Underwood
local business owner
Marta Alverez DIRECTOR
Melissa Prohaska
M&T Bank
Nick Macy
UMass Amherst
Rondey Allen
Crosspoint Clinical
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
Disability
Contractors
Fiscal year endingProfessional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G
Solicitation activities
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