Quick charity verification for 400 408 Housing Development Fund Co Inc (EIN: 132897042)
Verdict: 400 408 Housing Development Fund Co Inc appears trustworthy
88/100Mission Score
$4.2MRevenue
$14.7MAssets
0Red Flags
4Strengths
No red flags identified.
Strengths
Consistent asset growth, from $8,295,397 in 2018 to $14,553,605 in 2023, indicating strong financial health.
Zero reported officer compensation across all filings, suggesting efficient use of funds for mission-related activities.
Healthy revenue generation, with latest revenue at $4,177,062, demonstrating financial stability.
Expenses consistently lower than revenue, allowing for reinvestment and asset accumulation (e.g., 2023 expenses $1,956,727 vs. revenue $3,882,511).
Spending Breakdown
How 400 408 Housing Development Fund Co Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about 400 408 Housing Development Fund Co Inc
Is 400 408 Housing Development Fund Co Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, 400 408 Housing Development Fund Co Inc (EIN: 132897042) appears trustworthy. Mission Score: 88/100. 0 red flags identified, 4 strengths noted.
Is 400 408 Housing Development Fund Co Inc a good charity to donate to?
400 408 Housing Development Fund Co Inc has a Mission Score of 88/100. Revenue: $4.2M. Assets: $14.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for 400 408 Housing Development Fund Co Inc?
The Employer Identification Number (EIN) for 400 408 Housing Development Fund Co Inc is 132897042. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does 400 408 Housing Development Fund Co Inc spend its money?
400 408 Housing Development Fund Co Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify 400 408 Housing Development Fund Co Inc's tax-exempt status?
You can verify 400 408 Housing Development Fund Co Inc's tax-exempt status using EIN 132897042 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
400 408 Housing Development Fund Co Inc demonstrates consistent financial growth and a strong asset base, with assets increasing from $8,295,397 in 2018 to $14,553,605 in 2023. The organization consistently reports zero officer compensation, which is a positive indicator of resource allocation towards its mission rather than executive salaries. While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the overall expense ratios relative to revenue suggest efficient operations. For instance, in 2023, expenses were $1,956,727 against revenues of $3,882,511, indicating a significant portion of revenue was not consumed by operational costs, potentially allowing for reinvestment or accumulation of reserves.
The organization's financial health appears robust, with a healthy balance sheet and consistent revenue generation over the past several years. The NTEE code L21 (Housing Development, Construction & Management) suggests a focus on tangible community benefit. The absence of reported officer compensation enhances transparency and trust, as it implies that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which would require further investigation for a complete picture. Overall, the available data points to a financially stable and potentially efficient nonprofit.