Is St Margarets House Housing Development Fund Corporation Legit?
Quick charity verification for St Margarets House Housing Development Fund Corporation (EIN: 132947394)
Verdict: St Margarets House Housing Development Fund Corporation shows mixed signals
65/100Mission Score
$23.0MRevenue
$32.1MAssets
3Red Flags
3Strengths
Red Flags
Significant deficit in 2023 ($53,803,883) where expenses vastly exceeded revenue.
Dramatic increase in liabilities in 2023 ($64,408,613) compared to previous years, indicating substantial debt.
Negative net asset position in 2023, with liabilities almost double assets ($64,408,613 vs $31,065,524).
Strengths
Consistent reporting of 0% officer compensation, indicating low administrative overhead for leadership.
Significant asset growth over time, from $6,073,539 in 2015 to $31,065,524 in 2023, demonstrating capacity building.
Mission-aligned NTEE code (L210) suggests that large capital expenditures and debt are inherent to its housing development purpose.
Spending Breakdown
How St Margarets House 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
5%
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 St Margarets House Housing Development Fund Corporation
Is St Margarets House Housing Development Fund Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, St Margarets House Housing Development Fund Corporation (EIN: 132947394) shows mixed signals. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
Is St Margarets House Housing Development Fund Corporation a good charity to donate to?
St Margarets House Housing Development Fund Corporation has a Mission Score of 65/100. Revenue: $23.0M. Assets: $32.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for St Margarets House Housing Development Fund Corporation?
The Employer Identification Number (EIN) for St Margarets House Housing Development Fund Corporation is 132947394. 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 St Margarets House Housing Development Fund Corporation spend its money?
St Margarets House 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 St Margarets House Housing Development Fund Corporation's tax-exempt status?
You can verify St Margarets House Housing Development Fund Corporation's tax-exempt status using EIN 132947394 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
St Margarets House Housing Development Fund Corporation exhibits a complex financial picture. While the organization's assets have grown significantly over the past few years, reaching $31,065,524 in 2023, the most recent filing (202312) shows a substantial deficit, with expenses of $65,295,026 far exceeding revenue of $11,491,143. This resulted in a negative net asset position for the period, with liabilities of $64,408,613 almost double the assets. This could indicate significant capital expenditures or debt restructuring related to its housing development mission, which warrants further investigation into the nature of these expenses and liabilities.
The organization consistently reports 0% officer compensation across all available filings, suggesting a volunteer-led or externally managed executive structure, which is a positive indicator for minimizing administrative overhead. However, the dramatic increase in expenses and liabilities in 2023, compared to previous years where expenses were generally in line with or below revenue, raises questions about the sustainability of its financial model if such deficits become a recurring trend. The NTEE code L210 (Housing Development, Construction & Management) suggests that large capital projects and associated debt are inherent to its operations, but the scale of the 2023 deficit is notable.
Spending efficiency is difficult to fully assess without a detailed functional expense breakdown, which is not provided in the summary data. However, the absence of officer compensation is a strong point. The significant increase in liabilities in 2023, from $1,056,394 in 2022 to $64,408,613, indicates a major shift in its financial structure, likely related to new development projects. Transparency would be enhanced by a clear explanation of these large financial movements in its public disclosures.