Caritas

What Caritas does

Caritas Communities, founded in 1985 by P. Leo Corcoran and headquartered in Braintree, Massachusetts, is an independent, non-sectarian 501(c)(3) non-profit provider of permanent Single Room Occupancy (SRO) affordable housing for very low-income individuals across Greater Boston. The organization owns and operates 33 properties spanning 17 communities, serving more than 1,000 residents annually. Its resident base comprises five overlapping segments: very low-income working adults earning minimum wage (median resident income approximately $20,700), veterans with service-related challenges, low-income seniors aged 62+, disabled individuals on fixed incomes, and individuals transitioning directly from homelessness (nearly 60% of residents). Specialized programs include the Bedford Veterans Quarters and Sean Brooke House for veterans, and the 47-unit O'Connor Way senior housing development in South Boston opened in 2021 through a joint venture with South Boston Neighborhood Development Corp.

The organization's core technology layer consists of the Leonardo247 property management platform, delivered through a charitable in-kind partnership valued at approximately $100,000 annually. The platform supports remote monitoring, inspections, preventative maintenance, and operations management across all 33 properties. Operational performance is documented through measurable outcomes: 97.5% portfolio occupancy, 91 out of 100 on HUD REAC inspections (well above the 60-point passing threshold), 90% of Paul McGrath Homelessness Prevention Fund recipients retaining housing, 75% of veterans entering with no income subsequently earning income, and 62% of veteran residents achieving income increases through employment or benefits.

Caritas operates a hybrid nonprofit revenue model combining four streams: affordable residential rents (Section 8 subsidized or income-based), private charitable contributions (averaging $2,300 per resident annually in required giving), foundation grants (TD Charitable Foundation, Yawkey, Linn, United Way, Massachusetts Housing Investment Corporation), and government funding via Low-Income Housing Tax Credits, CDBG grants, Inclusionary Development Program, and partnerships with the Boston Housing Authority. Go-to-market is community-led, with residents acquired through 20+ housing placement and social service agency referrals, VA partnerships, homeless shelter referrals, and direct application via the website's interactive property map. Major capital events include a $4.4M Massachusetts Housing Partnership 40-year fixed-rate refinancing in 2017 and a $250,000 TD Charitable Foundation Housing For Everyone grant in 2021. Annual fundraising galas have generated between $730,000 and $1.18 million, with the 37th Annual Gala in 2022 raising a record $1.18 million.

Name

Caritas

Legal name

Caritas Communities Inc.

Website

https://caritascommunities.org

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Caritas Communities is a 501(c)(3) non-profit operating 33 Single Room Occupancy properties across Greater Boston, providing permanent affordable housing to over 1,000 very low-income residents annually, including veterans, seniors, and individuals transitioning from homelessness.

Ownership category

akta.pro rank

Product category

Affordable Housing Services

NAICS

Community Housing Services (62422), Other Residential Care Facilities (6239), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331)

SIC

Services-Social Services (8300), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA)

akta.pro secondary industries

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB), Independent Living with Supportive Services (Light ADL/IADL Support) (HLADAAAE)

Keywords

• Affordable housing services
• Single room occupancy housing
• Homelessness prevention programs
• Supportive housing services
• Low-income rental housing

Headquarters

HQ city

Braintree

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Residential Rents: Rental income from SRO units and permanent housing. Rents are set at affordable rates for very low-income individuals, with many units subsidized through Section 8 or other programs.
2. Private Charitable Contributions: Individual donors contribute to annual fund, capital campaigns, and special initiatives. The organization needs approximately $2,300 per resident annually in private charitable contributions.
3. Foundation Grants: Grants from TD Charitable Foundation, Yawkey Foundation, Linn Foundation, United Way, and other philanthropic organizations support operations, rental assistance, and capital projects.
4. Government Funding and Tax Credits: Funding through Low-Income Housing Tax Credits, CDBG grants, Inclusionary Development Program, and partnerships with Boston Housing Authority.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Caritas Communities provides permanent Single Room Occupancy (SRO) affordable housing to very low-income individuals across 33 properties in 17 Greater Boston communities. Core offerings include general Permanent Housing, specialized Veterans Housing (Bedford Veterans Quarters and Sean Brooke House), and senior housing (O'Connor Way), complemented by Resident Support Services, the Healthy Resident Program, and the Paul McGrath Homelessness Prevention Fund for emergency rental assistance. Housing is paired with supportive services including social service navigation, employment assistance, wellness programming, and community building.

Product overview

Caritas Communities operates as a nonprofit housing provider offering a portfolio of permanent housing programs and supportive services. The core offering consists of Single Room Occupancy (SRO) housing units across 33 properties in Greater Boston. Housing programs include general Permanent Housing for very low-income individuals and specialized Veterans Housing (Bedford Veterans Quarters and Sean Brooke House). These are supported by Resident Support Services, the Healthy Resident Program, and the Paul McGrath Homelessness Prevention Fund for emergency rental assistance. Community engagement programs include the Young Leaders Group and Welcome Home Basket initiative. The organization uses Leonardo247 property management software to manage operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Permanent Housing

Quantifiable outcome

• 97.5% occupancy rate maintained across portfolio
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Leonardo247coreTechnology or Integration · 16 December 2020Charitable partnership providing remote property management software and services valued at $100,000 annually. Leonardo247's platform helps manage 33 properties for inspections, property operations, preventative maintenance, and remote site management tailored to SRO environments.
• ComcastminorStrategic or Co-development Partner · 1 December 2019Donated laptops and one year of free internet service to 20 residents of Bedford Veterans Quarters through Internet Essentials program. Facilitated through Greater Boston Coordinated Veterans Services network.
• South Boston Neighborhood Development Corp. (SBNDC)coreStrategic or Co-development PartnerJoint venture partner for O'Connor Way 47-unit senior housing development. Third partnership with SBNDC, creating 87 units of affordable housing at three South Boston locations.
• Goulston & StorrscoreStrategic or Co-development PartnerLaw firm donated over 200 hours of legal services in 2020 for acquisition and development support. Provides pro bono legal expertise valued at market rates. Also performs volunteer projects like painting interiors.
• Equity ResidentialminorStrategic or Co-development PartnerProvided financial and volunteer support including painting volunteer days at properties, organizing Welcome Home Baskets, and annual dinner sponsorship. Four years of partnership.
• Liberty Mutual (Serve With Liberty)minorStrategic or Co-development PartnerLiberty Mutual volunteer program provides painting and refreshment volunteers for properties. Regular volunteer events painting porches and refreshing bathrooms.
• Lovin' SpoonfulsminorStrategic or Co-development PartnerFood rescue organization delivering weekly to largest building in Cambridge (128 formerly homeless men) and 1202 Commonwealth Ave (60 very low-income residents). Longest food-rescue partnership.
• Food LinkminorStrategic or Co-development PartnerFood rescue organization regularly supplying rescued food to Caritas homes in Arlington.
• The Food DriveminorStrategic or Co-development PartnerNewest food rescue partner based in Melrose delivering regularly to two Caritas houses north of Boston. 'We feel a particular connection to your mission' - Jana Gimenez, Founder.
• BreaktimeminorStrategic or Co-development PartnerIntersects housing and hunger by providing homeless young adults with job opportunities and career training in food service industry. Delivers fresh cooked meals to residents at two Boston Caritas houses. Caritas is housing provider for some Breaktime participants.
• Callahan Construction ManagerscoreStrategic or Co-development PartnerVolunteer teams for property improvements (landscaping, driveway, steps). $100,000 match for 2022 Annual Gala, propelling record-breaking $1.18 million fundraising. Honored with P. Leo Corcoran Humanitarian Award.
• Brighton MarineminorStrategic or Co-development PartnerFacilitated Comcast laptop and internet donation to Bedford Veterans Quarters through Greater Boston Coordinated Veterans Services network.

Scale indicators14 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Hearth, Inc. Boston-based nonprofit providing permanent supportive housing and case management for homeless individuals and families in Greater Boston. Operates a similar model of SRO and scattered-site affordable housing with resident services, making it the closest direct competitor to Caritas in the region (Caritas's Resident Services Coordinator Brittany Golden previously worked at Hearth).
• Father Bill's & MainSpring: Massachusetts-based nonprofit operating emergency shelters and permanent supportive housing for individuals and families experiencing homelessness in Greater Boston and Greater Bristol County. Directly comparable in mission, service model, and target population to Caritas Communities.
• Heading Home: Greater Boston nonprofit providing emergency shelter, transitional housing, and permanent supportive housing for homeless individuals and families. Operates a similar continuum-of-care housing model with supportive services for vulnerable populations in the same Massachusetts geography.
• Pine Street Inn: Boston's leading nonprofit provider of shelter, housing, and support services for people experiencing homelessness, including SRO-style permanent housing. Same geographic market, same service population (homeless and very low-income), and competing for similar funding and resident referrals.
• HomeStart: Greater Boston nonprofit focused on housing stabilization and preventing homelessness through rental assistance and scattered-site housing. Complementary service model targeting similar low-income individuals with similar income eligibility framework.
• Victory Programs: Boston-based nonprofit operating housing and recovery programs for people experiencing homelessness, substance use disorders, and chronic health issues. Operates SRO-style permanent housing with support services aligned to Caritas's model and target populations.

Emerging players

• Common Ground: New York City-based nonprofit operator of SRO-style supportive housing for low-income and formerly homeless individuals, including veteran housing (CommuniLife program). Similar SRO housing model but in a different metropolitan market, serving as an operational comparable rather than a direct competitor.
• The Fortune Society: New York City-based nonprofit providing supportive housing and reentry services for formerly incarcerated individuals and those affected by the justice system. Operates SRO and permanent supportive housing comparable to Caritas's service model and veteran/trauma-informed approach.

Others

• Massachusetts Housing and Shelter Alliance (MHSA): Boston-based nonprofit coalition and advocacy organization providing technical assistance, training, and policy support to Massachusetts housing and shelter providers. Has recognized Caritas for its work and serves as a peer/funder ecosystem partner rather than a direct operator.

Broad incumbents

• Boston Housing Authority: Largest public housing authority in New England and a key referral partner for Caritas Communities through Priority One placements. While not a direct competitor, BHA operates Section 8, public housing, and mixed-income programs in the same geography, setting policy and serving overlapping populations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CaritasBoston
• Facebookfacebook.com/CaritasGreaterBoston
• LinkedInlinkedin.com/company/caritas-communities-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caritas