Is Laurel Homes Housing Development Fund Corp Legit?
Quick charity verification for Laurel Homes Housing Development Fund Corp (EIN: 113463946)
Verdict: Laurel Homes Housing Development Fund Corp has notable concerns
10/100Mission Score
$2.6MRevenue
$0Assets
5Red Flags
1Strengths
Red Flags
Consistent reporting of $0 expenses across all filings, despite significant revenue (e.g., $2,580,315 in 2019).
Reporting $0 assets and $0 liabilities in the latest filing (2019) after reporting assets and substantial liabilities in prior years (e.g., $631,715 in liabilities in 2018).
Inability to assess spending efficiency due to lack of reported expenses.
Lack of transparency in financial operations due to incomplete and inconsistent reporting.
Significant revenue reported without any corresponding operational costs or program expenditures.
Strengths
Consistently reports 0% officer compensation, indicating no direct financial benefit to executives from the organization's funds.
Spending Breakdown
How Laurel Homes Housing Development Fund Corp allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
0%
Admin Costs
Reasonable — admin costs in check
0%
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 Laurel Homes Housing Development Fund Corp
Is Laurel Homes Housing Development Fund Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Laurel Homes Housing Development Fund Corp (EIN: 113463946) has notable concerns. Mission Score: 10/100. 5 red flags identified, 1 strength noted.
Is Laurel Homes Housing Development Fund Corp a good charity to donate to?
Laurel Homes Housing Development Fund Corp has a Mission Score of 10/100. Revenue: $2.6M. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Laurel Homes Housing Development Fund Corp?
The Employer Identification Number (EIN) for Laurel Homes Housing Development Fund Corp is 113463946. 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 Laurel Homes Housing Development Fund Corp spend its money?
Laurel Homes Housing Development Fund Corp allocates 0% to programs, 0% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Laurel Homes Housing Development Fund Corp's tax-exempt status?
You can verify Laurel Homes Housing Development Fund Corp's tax-exempt status using EIN 113463946 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
Laurel Homes Housing Development Fund Corp's financial health appears highly unusual and raises significant concerns. For the 2019 fiscal period, the organization reported $2,580,315 in revenue but $0 in expenses, assets, and liabilities. This complete absence of expenses and assets, especially given substantial revenue, is highly irregular for an active nonprofit and suggests potential data reporting issues or a very specific, perhaps pass-through, financial structure that is not clearly explained by the available data. The consistent reporting of $0 expenses across multiple years, despite varying revenue figures, further complicates a clear understanding of its operational efficiency.
The organization's spending efficiency cannot be accurately assessed due to the consistent reporting of $0 expenses across all available filings. Without any reported expenses, it's impossible to determine how revenue is being utilized for programs, administration, or fundraising. This lack of detailed financial activity makes it impossible to evaluate how effectively the organization is deploying its resources towards its mission. The absence of assets and liabilities in the latest filing, after years of reporting small assets and significant liabilities, also warrants further investigation.
Transparency is a major concern given the inconsistent and incomplete financial reporting. The repeated declaration of $0 expenses and, in the latest filing, $0 assets and liabilities, makes it extremely difficult for stakeholders to understand the organization's financial activities and impact. While officer compensation is consistently reported as 0%, the overall financial picture presented by the IRS 990 data is opaque and does not provide sufficient information for a thorough financial analysis or to instill confidence in its operations.