Quick charity verification for Erie Regional Housing Development Corp (EIN: 161559032)
Verdict: Erie Regional Housing Development Corp appears trustworthy
92/100Mission Score
$3.1MRevenue
$4.1MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth, from $842,534 in 2014 to $1,672,243 in 2023.
No reported officer compensation across all 13 filings, indicating high efficiency and dedication of funds to mission.
Consistent generation of financial surpluses, with revenue exceeding expenses in most years (e.g., 2023: Revenue $1,660,056 vs. Expenses $1,588,224).
Strong financial stability with liabilities significantly lower than assets, especially in recent years (e.g., 2023: Liabilities $74,492 vs. Assets $1,672,243).
Long and consistent history of IRS 990 filings (13 filings), demonstrating transparency and accountability.
Spending Breakdown
How Erie Regional Housing Development Corp allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Erie Regional Housing Development Corp
Is Erie Regional Housing Development Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Erie Regional Housing Development Corp (EIN: 161559032) appears trustworthy. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
Is Erie Regional Housing Development Corp a good charity to donate to?
Erie Regional Housing Development Corp has a Mission Score of 92/100. Revenue: $3.1M. Assets: $4.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Erie Regional Housing Development Corp?
The Employer Identification Number (EIN) for Erie Regional Housing Development Corp is 161559032. 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 Erie Regional Housing Development Corp spend its money?
Erie Regional Housing Development Corp allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Erie Regional Housing Development Corp's tax-exempt status?
You can verify Erie Regional Housing Development Corp's tax-exempt status using EIN 161559032 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
Erie Regional Housing Development Corp demonstrates consistent financial growth and stability over the past decade. The organization's assets have steadily increased from $842,534 in 2014 to $1,672,243 in 2023, indicating sound financial management and asset accumulation. Revenue has fluctuated but generally remained robust, with the latest reported revenue at $1,660,056 for the 2023 period, comfortably exceeding expenses of $1,588,224, resulting in a surplus. This consistent surplus generation suggests effective operational management and a healthy financial position.
The organization's spending efficiency appears strong, as evidenced by the consistent surpluses and the absence of reported officer compensation, which implies that a very high percentage of funds are directed towards program services and operational costs rather than executive salaries. While specific program spending ratios are not detailed in the provided data, the overall financial health and lack of executive compensation suggest a strong commitment to mission-related expenditures. The organization's liabilities have remained relatively low compared to its assets, further reinforcing its financial stability.
Transparency is generally good, with 13 filings available, indicating a consistent reporting history. The absence of officer compensation is a significant positive indicator for transparency and efficient use of funds. The consistent growth in assets and the ability to manage expenses within revenue streams point to a well-managed and financially responsible nonprofit.