Is Westbeth Corp Housing Development Fund Company Inc Legit?
Quick charity verification for Westbeth Corp Housing Development Fund Company Inc (EIN: 132614139)
Verdict: Westbeth Corp Housing Development Fund Company Inc appears trustworthy
75/100Mission Score
$24.6MRevenue
$58.3MAssets
2Red Flags
3Strengths
Red Flags
Consistent operating deficits (expenses exceeding revenue) in recent years without clear explanation of funding sources within the summary data.
Unusually low or 0% reported officer compensation for an organization of this size, which may obscure actual executive remuneration.
Strengths
Substantial and stable asset base ($57.7M in 2023) indicating long-term financial stability.
Consistent and extensive IRS 990 filing history (14 filings), demonstrating commitment to transparency.
Mission-aligned NTEE code (L20Z) for Housing Development, Construction & Management, suggesting a focused program area.
Spending Breakdown
How Westbeth Corp Housing Development Fund Company Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
8%
Admin Costs
Reasonable — admin costs in check
2%
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 Westbeth Corp Housing Development Fund Company Inc
Is Westbeth Corp Housing Development Fund Company Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Westbeth Corp Housing Development Fund Company Inc (EIN: 132614139) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Westbeth Corp Housing Development Fund Company Inc a good charity to donate to?
Westbeth Corp Housing Development Fund Company Inc has a Mission Score of 75/100. Revenue: $24.6M. Assets: $58.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Westbeth Corp Housing Development Fund Company Inc?
The Employer Identification Number (EIN) for Westbeth Corp Housing Development Fund Company Inc is 132614139. 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 Westbeth Corp Housing Development Fund Company Inc spend its money?
Westbeth Corp Housing Development Fund Company Inc allocates 90% to programs, 8% to administration, and 2% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Westbeth Corp Housing Development Fund Company Inc's tax-exempt status?
You can verify Westbeth Corp Housing Development Fund Company Inc's tax-exempt status using EIN 132614139 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
Westbeth Corp Housing Development Fund Company Inc demonstrates consistent financial operations, primarily focused on housing development. Over the past few years, the organization has consistently reported expenses exceeding revenue, such as in 2023 where expenses were $12,521,891 against revenues of $10,611,091, indicating a reliance on prior year surpluses or other funding sources to cover operational costs. Despite this, its asset base has remained substantial, with assets of $57,758,161 in 2023, suggesting a stable long-term financial position. The organization's NTEE code L20Z (Housing Development, Construction & Management) aligns with its operational focus.
The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 14 filings available. A notable aspect is the consistent reporting of 0% officer compensation across all available filings, which suggests either a volunteer-led executive team or compensation structured in a way that isn't reported as officer compensation on the 990, which warrants further investigation for full transparency. The significant liabilities, such as $52,356,628 in 2023, are typical for housing development funds that often carry mortgages or other long-term debt related to their properties.
While the consistent deficit spending (expenses exceeding revenue) in recent years could be a concern for some, it's important to consider the nature of housing development funds, which often manage long-term assets and may have non-operating revenue or capital contributions not fully reflected in annual operating revenue figures. The substantial asset base relative to annual expenses suggests a well-established entity. The lack of reported officer compensation is a positive indicator of efficient use of funds, assuming executive leadership is indeed uncompensated or compensated through other means not typically captured in this line item.