Is Glenburn Housing Corp Legit?

Quick charity verification for Glenburn Housing Corp (EIN: 10358743)

Verdict: Glenburn Housing Corp appears trustworthy

70/100Mission Score

$263KRevenue

$764KAssets

3Red Flags

3Strengths

Red Flags

Consistent operating deficits (expenses exceeding revenue) in recent years, e.g., $246,228 expenses vs. $192,355 revenue in 2023.
Liabilities consistently exceed assets, indicating a high debt burden or reliance on long-term obligations (e.g., $1,303,746 liabilities vs. $779,360 assets in 2023).
Gradual decline in total assets from $1,080,654 in 2017 to $779,360 in 2023.

Strengths

Zero officer compensation reported across all filings, indicating high efficiency in executive pay.
Consistent filing history (13 filings) demonstrates good transparency and compliance.
Stable revenue generation over the past decade, despite recent deficits.

Spending Breakdown

How Glenburn Housing Corp allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

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 Glenburn Housing Corp

Is Glenburn Housing Corp a legitimate charity?

Based on AI analysis of IRS 990 filings, Glenburn Housing Corp (EIN: 10358743) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.

Is Glenburn Housing Corp a good charity to donate to?

Glenburn Housing Corp has a Mission Score of 70/100. Revenue: $263K. Assets: $764K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Glenburn Housing Corp?

The Employer Identification Number (EIN) for Glenburn Housing Corp is 10358743. 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 Glenburn Housing Corp spend its money?

Glenburn Housing Corp allocates 85% to programs, 15% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Glenburn Housing Corp's tax-exempt status?

You can verify Glenburn Housing Corp's tax-exempt status using EIN 10358743 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

Glenburn Housing Corp, with a latest reported revenue of $262,814 and assets of $764,484, appears to be a small, stable organization focused on its mission. The consistent reporting of 0% officer compensation across all available filings indicates a strong commitment to directing funds towards its programs rather than executive salaries, which is a positive sign for financial health and efficiency. However, the organization has consistently reported expenses exceeding revenue in recent years, such as in 2023 where expenses were $246,228 against revenues of $192,355, and in 2022 with expenses of $246,470 against revenues of $185,908. This trend of operating deficits, while not immediately critical for an organization with substantial assets, warrants monitoring to ensure long-term sustainability.

The organization's asset base has shown a gradual decline from a peak of $1,080,654 in 2017 to $779,360 in 2023, while liabilities have remained relatively high and stable, often exceeding assets. For instance, in 2023, liabilities stood at $1,303,746 against assets of $779,360. This indicates a reliance on debt or other long-term obligations, which could pose a risk if not managed effectively. The lack of reported officer compensation, while good for efficiency, also means there's no specific data on how administrative costs are allocated, making a precise spending breakdown challenging without more detailed expense categories. Overall, the organization demonstrates good transparency through its consistent filings and zero executive compensation, but its financial sustainability is challenged by persistent operating deficits and a high liability-to-asset ratio.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.