Is Ryer Avenue Housing Development Fund Corp Legit?
Quick charity verification for Ryer Avenue Housing Development Fund Corp (EIN: 133604402)
Verdict: Ryer Avenue Housing Development Fund Corp appears trustworthy
85/100Mission Score
$2.0MRevenue
$955KAssets
2Red Flags
3Strengths
Red Flags
Liabilities consistently exceeding assets in recent years (e.g., 2023: $574,970 liabilities vs. $487,786 assets), which could indicate financial strain or reliance on debt.
Slight operating deficits in some recent years (e.g., 2023: expenses $2,040,582 vs. revenue $1,977,304), indicating that expenses sometimes outpace revenue.
Strengths
Consistent reporting of 0% officer compensation across all filings, indicating a strong commitment to directing funds towards the mission.
Stable revenue generation around $2 million annually over the past decade, demonstrating consistent operational capacity.
Long filing history (13 filings) indicating consistent compliance and transparency in reporting to the IRS.
Spending Breakdown
How Ryer Avenue Housing Development Fund Corp allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Ryer Avenue Housing Development Fund Corp
Is Ryer Avenue Housing Development Fund Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Ryer Avenue Housing Development Fund Corp (EIN: 133604402) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
Is Ryer Avenue Housing Development Fund Corp a good charity to donate to?
Ryer Avenue Housing Development Fund Corp has a Mission Score of 85/100. Revenue: $2.0M. Assets: $955K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Ryer Avenue Housing Development Fund Corp?
The Employer Identification Number (EIN) for Ryer Avenue Housing Development Fund Corp is 133604402. 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 Ryer Avenue Housing Development Fund Corp spend its money?
Ryer Avenue Housing Development Fund Corp allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Ryer Avenue Housing Development Fund Corp's tax-exempt status?
You can verify Ryer Avenue Housing Development Fund Corp's tax-exempt status using EIN 133604402 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
Ryer Avenue Housing Development Fund Corp demonstrates consistent operational activity with revenues generally exceeding or closely matching expenses over the past decade. For instance, in 2023, the organization reported revenues of $1,977,304 against expenses of $2,040,582, indicating a slight deficit. While the organization's assets have fluctuated, they have generally remained positive, though liabilities have sometimes exceeded assets, as seen in 2023 ($487,786 assets vs. $574,970 liabilities). The consistent reporting of 0% officer compensation across all available filings suggests a strong commitment to directing funds towards its mission rather than executive salaries, which is a positive indicator of financial health and efficiency. However, the consistent reporting of liabilities exceeding assets in recent years (e.g., 2023, 2022, 2021) warrants closer examination to understand the nature of these liabilities and their long-term implications for financial stability.
The organization's spending efficiency appears to be focused on its program, given the lack of reported officer compensation. Without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to precisely quantify efficiency in these areas. However, the consistent revenue generation around the $2 million mark suggests a stable operational capacity. The organization's transparency is high regarding executive compensation, as it consistently reports no officer compensation. Further transparency could be enhanced by providing more detailed breakdowns of functional expenses in their public filings, which would allow for a more granular assessment of how funds are allocated across different activities.
Overall, Ryer Avenue Housing Development Fund Corp appears to be a stable organization with a clear focus on its mission, as evidenced by its consistent revenue and expense patterns and zero officer compensation. The primary area for potential concern and further investigation lies in the recent trend of liabilities exceeding assets, which could indicate reliance on debt or other financial obligations. Despite this, the consistent operational scale and lack of executive compensation are strong positive indicators.