Liabilities consistently exceed assets, indicating potential long-term financial risk or reliance on debt financing.
Reported a significant operating deficit of $489,722 in the latest 2023 filing, a departure from prior years' more balanced finances.
Strengths
Consistent reporting of 0% officer compensation across all filings, indicating high efficiency in executive pay.
Long history of IRS 990 filings (13 filings), demonstrating transparency and compliance.
Stable revenue generation over the past decade, generally exceeding $3.5 million annually.
Clear mission focus on senior housing (NTEE L22) with consistent operations.
Spending Breakdown
How Gates Senior Housing Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
8%
Admin Costs
Reasonable — admin costs in check
2%
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 Gates Senior Housing Inc
Is Gates Senior Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Gates Senior Housing Inc (EIN: 161584166) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Gates Senior Housing Inc a good charity to donate to?
Gates Senior Housing Inc has a Mission Score of 85/100. Revenue: $4.9M. Assets: $6.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Gates Senior Housing Inc?
The Employer Identification Number (EIN) for Gates Senior Housing Inc is 161584166. 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 Gates Senior Housing Inc spend its money?
Gates Senior Housing Inc allocates 90% to programs, 8% to administration, and 2% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Gates Senior Housing Inc's tax-exempt status?
You can verify Gates Senior Housing Inc's tax-exempt status using EIN 161584166 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
Gates Senior Housing Inc. demonstrates consistent financial operations focused on providing senior housing, as indicated by its NTEE code L22. Over the past decade, the organization has maintained a stable revenue stream, generally ranging from $3.5 million to $4.5 million annually. While the organization reported a deficit in 2023 with expenses exceeding revenue by nearly $500,000 ($4,733,213 in expenses vs. $4,243,491 in revenue), this appears to be an anomaly in a trend of generally balanced or surplus operations in prior years, such as 2022 where revenue slightly exceeded expenses ($4,500,506 vs. $4,475,202). The organization's assets have fluctuated but remained substantial, reaching $7,122,673 in 2023, though liabilities have consistently been higher than assets, suggesting a reliance on debt or other long-term obligations.
Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent operation and the nature of senior housing suggest that the majority of expenses are likely tied directly to program delivery. The reported 0% officer compensation across all filings indicates a strong commitment to directing funds towards the mission rather than executive salaries, which is a positive sign for efficiency and donor trust. This lack of reported officer compensation also suggests a high degree of transparency regarding executive pay, as it explicitly states no compensation was paid.
Overall, Gates Senior Housing Inc. appears to be a stable organization with a clear mission. The recent deficit in 2023 warrants closer examination, but the historical data suggests a generally well-managed entity. The absence of officer compensation is a significant strength in terms of financial transparency and efficiency, indicating that resources are not being diverted to high executive salaries. The consistent reporting over 13 filings also points to a commitment to regulatory compliance and transparency.