Is Brighton Beach Housing Development Fund Company Inc Legit?
Quick charity verification for Brighton Beach Housing Development Fund Company Inc (EIN: 133042331)
Verdict: Brighton Beach Housing Development Fund Company Inc appears trustworthy
85/100Mission Score
$4.1MRevenue
$12.4MAssets
2Red Flags
4Strengths
Red Flags
Negative net assets in recent years (e.g., 2023: Assets $21,863,054 vs. Liabilities $30,989,922)
Significant expense spikes in certain years without clear explanation in the provided data (e.g., 2021 expenses of $10.6M against $3.2M revenue)
Strengths
Consistent reporting of 0% officer compensation, indicating strong transparency and efficiency in executive pay.
Significant asset growth over time, suggesting successful acquisition or development of housing properties.
Long operational history with 13 filings, indicating stability and sustained commitment to its mission.
Generally stable revenue streams over the past decade, supporting ongoing operations.
Spending Breakdown
How Brighton Beach Housing Development Fund Company 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 Brighton Beach Housing Development Fund Company Inc
Is Brighton Beach Housing Development Fund Company Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Brighton Beach Housing Development Fund Company Inc (EIN: 133042331) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Brighton Beach Housing Development Fund Company Inc a good charity to donate to?
Brighton Beach Housing Development Fund Company Inc has a Mission Score of 85/100. Revenue: $4.1M. Assets: $12.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Brighton Beach Housing Development Fund Company Inc?
The Employer Identification Number (EIN) for Brighton Beach Housing Development Fund Company Inc is 133042331. 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 Brighton Beach Housing Development Fund Company Inc spend its money?
Brighton Beach Housing Development Fund Company Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Brighton Beach Housing Development Fund Company Inc's tax-exempt status?
You can verify Brighton Beach Housing Development Fund Company Inc's tax-exempt status using EIN 133042331 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
Brighton Beach Housing Development Fund Company Inc demonstrates a consistent operational history with generally stable revenues and expenses over the past decade. The organization's financial health shows a significant increase in assets and liabilities in recent years, particularly between 2020 and 2021, where assets jumped from $5.3 million to $22 million and liabilities from $7 million to $31 million. This suggests a substantial expansion or acquisition of housing properties, which is consistent with its mission. While the organization has experienced periods where expenses exceeded revenue, such as in 2023 ($4,002,548 expenses vs. $3,802,663 revenue) and notably in 2021 ($10,634,582 expenses vs. $3,270,016 revenue), these could be attributed to capital investments or specific project costs rather than ongoing operational inefficiencies. The consistent reporting of 0% officer compensation across all filings indicates strong financial transparency regarding executive pay, suggesting that leadership may be volunteer-based or compensated through other means not classified as officer compensation on the 990.