Is Virginia Place Apartments Inc Legit? —…

Quick charity verification for Virginia Place Apartments Inc (EIN: 200214143)

Red Flags

Consistent operational deficits (expenses exceed revenue in all reported periods)
Declining asset base over the past decade (from $759,439 in 201506 to $583,438 in 202406)
Liabilities significantly exceed assets, indicating negative net assets and potential solvency issues (e.g., $1,012,870 liabilities vs. $583,438 assets in 202406)
Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency assessment

Spending Breakdown

How Virginia Place Apartments Inc allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

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 Virginia Place Apartments Inc

Is Virginia Place Apartments Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Virginia Place Apartments Inc (EIN: 200214143) shows mixed signals. Mission Score: 40/100. 4 red flags identified, 2 strengths noted.

Is Virginia Place Apartments Inc a good charity to donate to?

Virginia Place Apartments Inc has a Mission Score of 40/100. Revenue: $123K. Assets: $546K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Virginia Place Apartments Inc?

The Employer Identification Number (EIN) for Virginia Place Apartments Inc is 200214143. 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 Virginia Place Apartments Inc spend its money?

Virginia Place Apartments Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Virginia Place Apartments Inc's tax-exempt status?

You can verify Virginia Place Apartments Inc's tax-exempt status using EIN 200214143 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

Virginia Place Apartments Inc, operating as a housing provider (NTEE L20), consistently reports expenses exceeding revenue, indicating a reliance on other funding sources or a deficit spending model. For instance, in the 202406 period, expenses were $152,507 against revenues of $90,168, resulting in a significant deficit. This trend is consistent across all reported periods, suggesting a structural financial challenge or a business model that anticipates external subsidies or grants not fully captured in the 'Revenue' line item. The organization's assets have shown a declining trend over the past decade, from $759,439 in 201506 to $583,438 in 202406, while liabilities have generally increased, reaching $1,012,870 in 202406. This indicates a deteriorating balance sheet with liabilities significantly outweighing assets, raising concerns about long-term solvency.

The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 14 filings available, demonstrating adherence to reporting requirements. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to fully assess spending efficiency. The consistent reporting of 0% officer compensation across all periods suggests either a volunteer-led executive team or compensation being reported under other expense categories, which would require further investigation for complete transparency. The significant and persistent negative net assets (Assets - Liabilities) are a major financial concern.

Given the consistent operational deficits and the growing disparity between assets and liabilities, the organization appears to be in a precarious financial position. While the mission of providing housing is critical, the financial model seems unsustainable without significant external support or a restructuring of operations. The lack of detailed expense allocation in the provided data limits a precise assessment of spending efficiency, but the overall financial trends point to significant challenges.

Is Virginia Place Apartments Inc Legit?

Verdict: Virginia Place Apartments Inc shows mixed signals