Quick charity verification for Credo Housing Development Corporation (EIN: 222813920)
Verdict: Credo Housing Development Corporation appears trustworthy
75/100Mission Score
$71KRevenue
$833KAssets
3Red Flags
3Strengths
Red Flags
Revenue has been highly inconsistent year-over-year, ranging from $71,129 in 2023 to $300,649 in 2022, indicating potential reliance on sporadic funding or project-based income.
The consistent reporting of 0% compensation across all years could obscure actual executive benefits or indicate a lack of paid leadership, which might impact long-term sustainability.
Liabilities have fluctuated significantly, from $52 in 2023 to $136,736 in 2016, suggesting varying financial obligations or debt management strategies.
Strengths
The organization consistently maintains a healthy asset base, with assets ranging from $714,092 to $898,668, demonstrating financial stability.
Expenses have remained relatively stable over the years, typically around $125,000-$155,000, indicating consistent operational costs and potentially efficient management.
The organization has consistently reported 0% compensation, which, if truly volunteer-led, represents a significant operational efficiency.
Spending Breakdown
How Credo Housing Development Corporation allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Credo Housing Development Corporation
Is Credo Housing Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Credo Housing Development Corporation (EIN: 222813920) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
Is Credo Housing Development Corporation a good charity to donate to?
Credo Housing Development Corporation has a Mission Score of 75/100. Revenue: $71K. Assets: $833K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Credo Housing Development Corporation?
The Employer Identification Number (EIN) for Credo Housing Development Corporation is 222813920. 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 Credo Housing Development Corporation spend its money?
Credo Housing Development Corporation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Credo Housing Development Corporation's tax-exempt status?
You can verify Credo Housing Development Corporation's tax-exempt status using EIN 222813920 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
Credo Housing Development Corporation is a housing & shelter nonprofit based in Waterbury, Connecticut, with reported revenue of $71K and assets of $833K. Our AI analysis assigns a Mission Score of 75/100 (Good). Approximately 70% of spending goes to programs, 20% to administration, and 10% to fundraising. Executive compensation is consistently reported as $0 across all available filings, suggesting an all-volunteer leadership or that compensation is embedded within other operational expenses, which warrants further clarification. Revenue has declined -6% across 13 filing periods.