Is Grand Concourse East Housing Development Fund Corporation Legit?

Quick charity verification for Grand Concourse East Housing Development Fund Corporation (EIN: 133806082)

Verdict: Grand Concourse East Housing Development Fund Corporation appears trustworthy

80/100Mission Score

$2.1MRevenue

$631KAssets

3Red Flags

4Strengths

Red Flags

Expenses exceeded revenue in the latest 2023 filing ($2,197,680 vs. $2,030,819).
Lack of detailed breakdown for program, administrative, and fundraising expenses in the provided data.
Unclear how executive functions are compensated given 0% officer compensation reported.

Strengths

Consistent annual revenue generation around $2 million over a decade, indicating stable operations.
No reported officer compensation, potentially indicating high efficiency in leadership costs.
Assets consistently exceed liabilities in most years, demonstrating a generally healthy balance sheet.
Long history of consistent IRS 990 filings, indicating good transparency.

Spending Breakdown

How Grand Concourse East Housing Development Fund Corporation allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

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 Grand Concourse East Housing Development Fund Corporation

Is Grand Concourse East Housing Development Fund Corporation a legitimate charity?

Based on AI analysis of IRS 990 filings, Grand Concourse East Housing Development Fund Corporation (EIN: 133806082) appears trustworthy. Mission Score: 80/100. 3 red flags identified, 4 strengths noted.

Is Grand Concourse East Housing Development Fund Corporation a good charity to donate to?

Grand Concourse East Housing Development Fund Corporation has a Mission Score of 80/100. Revenue: $2.1M. Assets: $631K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Grand Concourse East Housing Development Fund Corporation?

The Employer Identification Number (EIN) for Grand Concourse East Housing Development Fund Corporation is 133806082. 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 Grand Concourse East Housing Development Fund Corporation spend its money?

Grand Concourse East Housing Development Fund Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Grand Concourse East Housing Development Fund Corporation's tax-exempt status?

You can verify Grand Concourse East Housing Development Fund Corporation's tax-exempt status using EIN 133806082 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

Grand Concourse East Housing Development Fund Corporation demonstrates consistent operational activity with revenues consistently around $2 million annually over the past decade. While the organization's assets have fluctuated, they generally maintain a healthy balance sheet, with assets exceeding liabilities in most periods. For instance, in 2023, assets were $1,909,740 against liabilities of $1,208,580. The consistent reporting of zero officer compensation across all available filings suggests a volunteer-led or externally managed executive structure, which can be a positive indicator of resource allocation directly to mission-related activities, though it warrants further investigation to understand the full compensation picture for key personnel.

The organization's financial health appears stable, managing expenses close to or slightly below revenue in most years, indicating responsible fiscal management. For example, in 2022, revenue was $2,417,724 against expenses of $2,236,507. However, the latest filing for 2023 shows expenses exceeding revenue ($2,197,680 vs. $2,030,819), resulting in a deficit for that period. This single year's deficit, while not immediately alarming given the overall trend, is a point to monitor. The NTEE code L20 (Housing Development, Construction & Management) suggests a focus on tangible community benefit, and the consistent revenue stream indicates ongoing operations in this area.

Transparency is generally good with consistent 990 filings. The absence of reported officer compensation is a notable aspect, potentially indicating a highly efficient or volunteer-driven leadership model, which could be seen as a strength in terms of direct program spending. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging. The consistent revenue and asset base suggest a well-established organization with a clear operational footprint in the Bronx.

View Full Transparency Report →

Disclaimer

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