Is Harlem West Ii Housing Dev Fund Co Inc Legit?

Quick charity verification for Harlem West Ii Housing Dev Fund Co Inc (EIN: 132837728)

Verdict: Harlem West Ii Housing Dev Fund Co Inc shows mixed signals

40/100Mission Score

$2.2MRevenue

$4.5MAssets

4Red Flags

1Strengths

Red Flags

Consistent and significant operating deficits, including $514,408 in 202303 and over $10 million in 202203.
Dramatic increase in liabilities from $401,011 in 2018 to $16,630,841 in 2023.
Declining assets from $7,149,098 in 202203 to $6,344,906 in 202303, while liabilities continue to rise.
Lack of detailed expense breakdown to assess program efficiency versus administrative or fundraising costs.

Strengths

Reported 0% officer compensation across all available filings, potentially indicating a commitment to directing funds elsewhere.

Spending Breakdown

How Harlem West Ii Housing Dev Fund Co Inc 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 Harlem West Ii Housing Dev Fund Co Inc

Is Harlem West Ii Housing Dev Fund Co Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Harlem West Ii Housing Dev Fund Co Inc (EIN: 132837728) shows mixed signals. Mission Score: 40/100. 4 red flags identified, 1 strength noted.

Is Harlem West Ii Housing Dev Fund Co Inc a good charity to donate to?

Harlem West Ii Housing Dev Fund Co Inc has a Mission Score of 40/100. Revenue: $2.2M. Assets: $4.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Harlem West Ii Housing Dev Fund Co Inc?

The Employer Identification Number (EIN) for Harlem West Ii Housing Dev Fund Co Inc is 132837728. 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 Harlem West Ii Housing Dev Fund Co Inc spend its money?

Harlem West Ii Housing Dev Fund Co Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Harlem West Ii Housing Dev Fund Co Inc's tax-exempt status?

You can verify Harlem West Ii Housing Dev Fund Co Inc's tax-exempt status using EIN 132837728 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

Harlem West II Housing Dev Fund Co Inc appears to be in a challenging financial position, as evidenced by its recent IRS 990 filings. In the 202303 period, the organization reported expenses of $2,757,832 against revenues of $2,243,424, indicating a deficit of over half a million dollars. This follows an even more significant deficit in 202203, where expenses of $11,879,714 vastly outstripped revenues of $1,214,746. The organization's liabilities have also grown substantially, from $401,011 in 201803 to $16,630,841 in 202303, raising concerns about long-term financial stability. While the NTEE code L21 suggests a focus on housing development, the significant and consistent operating deficits, coupled with increasing liabilities, warrant closer scrutiny into the organization's financial management and sustainability model.

Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses from the provided data, it's difficult to fully assess. However, the large deficits suggest that current revenue streams are insufficient to cover operational costs. The organization reports 0% officer compensation across all available filings, which could be a positive indicator of resource allocation if it means funds are directed towards programs, but it could also indicate an all-volunteer board or that compensation is reported elsewhere. The substantial increase in liabilities, particularly from 2018 to 2023, is a significant concern that could impact future program delivery and overall financial health.

Transparency is partially addressed by the availability of 990 filings, but the lack of detailed expense categories in the provided summary limits a full assessment of how funds are being utilized. The consistent operating deficits and the dramatic increase in liabilities are critical areas that would require further explanation and detailed financial statements to fully understand the organization's financial health and its ability to fulfill its mission effectively.

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Disclaimer

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