Is Womens Housing And Economic Development Corporation Legit?
Quick charity verification for Womens Housing And Economic Development Corporation (EIN: 113099604)
Verdict: Womens Housing And Economic Development Corporation appears trustworthy
85/100Mission Score
$37.1MRevenue
$64.4MAssets
1Red Flags
5Strengths
Red Flags
Lack of detailed expense breakdown in summary data prevents precise program efficiency calculation.
Strengths
Consistent revenue growth, from $17.7M in 2014 to $34.3M in 2023.
Significant asset accumulation, growing from $12.3M in 2014 to $60.4M in 2023.
Consistent financial surpluses, with revenue exceeding expenses in most recent years (e.g., $6.3M surplus in 2023).
No reported officer compensation in the provided summary data, suggesting efficient use of funds or volunteer leadership.
Strong asset base of $64.4M (latest) indicates substantial capacity for mission delivery.
Spending Breakdown
How Womens Housing And Economic Development Corporation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
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 Womens Housing And Economic Development Corporation
Is Womens Housing And Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Womens Housing And Economic Development Corporation (EIN: 113099604) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
Is Womens Housing And Economic Development Corporation a good charity to donate to?
Womens Housing And Economic Development Corporation has a Mission Score of 85/100. Revenue: $37.1M. Assets: $64.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Womens Housing And Economic Development Corporation?
The Employer Identification Number (EIN) for Womens Housing And Economic Development Corporation is 113099604. 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 Womens Housing And Economic Development Corporation spend its money?
Womens Housing And Economic Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Womens Housing And Economic Development Corporation's tax-exempt status?
You can verify Womens Housing And Economic Development Corporation's tax-exempt status using EIN 113099604 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
Womens Housing And Economic Development Corporation (WHEDco) demonstrates strong financial health and growth, with its assets nearly doubling from $29.5 million in 2021 to $60.4 million in 2023. The organization consistently generates a surplus, with revenue exceeding expenses in most recent years, indicating sound financial management. For instance, in 2023, revenue was $34.3 million against expenses of $28.0 million, resulting in a $6.3 million surplus. This consistent surplus allows for asset accumulation and sustained program delivery.
While specific breakdowns of program, administrative, and fundraising expenses are not provided in the summary data, the consistent growth in revenue and assets suggests effective resource allocation towards its mission. The absence of reported officer compensation across all filings is a notable aspect of its transparency, indicating either a volunteer leadership structure or that compensation is reported differently, which warrants further investigation for a complete picture of executive costs. Overall, WHEDco appears to be a financially robust organization with a positive trend in its financial indicators.
The organization's NTEE code L80Z (Housing & Shelter, Other) aligns with its mission, and its significant asset base of $64.4 million (latest) suggests substantial infrastructure to support its housing and economic development programs in the Bronx. The consistent growth in assets and revenue over the past decade, from $12.3 million in assets and $17.7 million in revenue in 2014 to current figures, reflects a well-managed and expanding operation.