1712 & 1715 Housing Development Fund Co Inc
Housing Development Fund Co Inc maintains operational stability with no reported officer compensation, despite consistent asset-liability imbalance.
EIN: 132816926 · New York, NY · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $1.8M |
| Program Spending | 90% |
| Net Assets | $-867,925 |
| Transparency Score | 85/100 |
Is 1712 & 1715 Housing Development Fund Co Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
1712 & 1715 Housing Development Fund Co Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About 1712 & 1715 Housing Development Fund Co Inc
1712 & 1715 Housing Development Fund Co Inc (EIN: 132816926) is a nonprofit organization based in New York, NY, classified under NTEE code L21. The organization reported total revenue of $2.1M and total assets of $5.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 1712 & 1715 Housing Development Fund Co Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
1712 & 1715 Housing Development Fund Co Inc is a mid-size nonprofit that has been operating for 7 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 5.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $1.8M |
| Surplus / Deficit | +$134K |
| Total Assets | $4.6M |
| Total Liabilities | $5.5M |
| Net Assets | $-867,925 |
| Operating Margin | 7.0% |
| Debt-to-Asset Ratio | 118.8% |
| Months of Reserves | 30.9 months |
Financial Health Grade: A
In 2023, 1712 & 1715 Housing Development Fund Co Inc reported a surplus of $134K with revenue exceeding expenses, holds 30.9 months of operating reserves (strong position), has a debt-to-asset ratio of 118.8% (high leverage).
Financial Trends
Over 6 years of filings (2018–2023), 1712 & 1715 Housing Development Fund Co Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.3% | -20.5% | +1.2% |
| 2022 | +1.0% | +24.1% | -7.6% |
| 2021 | +6.2% | +1.0% | +1.7% |
| 2020 | -12.8% | +8.7% | -12.8% |
| 2019 | +44.2% | +1.0% | +6.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates 1712 & 1715 Housing Development Fund Co Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, 1712 & 1715 Housing Development Fund Co Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $134K, with revenue exceeding expenses.
- Debt-to-asset ratio: 118.8%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation from the organization. This suggests a highly efficient use of funds, directing resources entirely towards its mission rather than executive salaries.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of 1712 & 1715 Housing Development Fund Co Inc's IRS 990 filings:
- Consistent liabilities exceeding assets, requiring further investigation into long-term financial stability and debt management strategies.
Strengths
The following positive indicators were identified for 1712 & 1715 Housing Development Fund Co Inc:
- Consistent operational stability with revenues generally exceeding expenses in recent periods (e.g., $1,928,505 revenue vs. $1,794,089 expenses in 202305).
- Zero reported officer compensation across all filings, indicating high efficiency in directing funds to mission-related activities.
- Strong program focus implied by the lack of executive compensation and the nature of a Housing Development Fund.
- Consistent filing of IRS 990s, demonstrating good transparency.
Frequently Asked Questions about 1712 & 1715 Housing Development Fund Co Inc
Is 1712 & 1715 Housing Development Fund Co Inc a legitimate charity?
1712 & 1715 Housing Development Fund Co Inc (EIN: 132816926) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 6 years of IRS 990 filings on record. Total revenue: $2.1M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does 1712 & 1715 Housing Development Fund Co Inc spend its money?
1712 & 1715 Housing Development Fund Co Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to 1712 & 1715 Housing Development Fund Co Inc tax-deductible?
1712 & 1715 Housing Development Fund Co Inc is registered as a tax-exempt nonprofit (EIN: 132816926). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of 1712 & 1715 Housing Development Fund Co Inc's spending goes to programs?
1712 & 1715 Housing Development Fund Co Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does 1712 & 1715 Housing Development Fund Co Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), 1712 & 1715 Housing Development Fund Co Inc is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is 1712 & 1715 Housing Development Fund Co Inc located?
1712 & 1715 Housing Development Fund Co Inc is headquartered in New York, New York and files with the IRS under EIN 132816926. It is classified under NTEE code L21.
How many years of IRS 990 filings does 1712 & 1715 Housing Development Fund Co Inc have?
1712 & 1715 Housing Development Fund Co Inc has 6 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.1M in total revenue.
How does 1712 & 1715 Housing Development Fund Co Inc manage its consistent liabilities exceeding assets?
The consistent reporting of liabilities exceeding assets (e.g., $5,490,017 liabilities vs. $4,622,092 assets in 202305) is a key financial characteristic. Given its NTEE code (Housing Development), this likely reflects significant debt associated with property acquisition, development, or long-term mortgages. A deeper dive into the balance sheet would be needed to understand the specific nature of these liabilities (e.g., secured vs. unsecured, repayment terms) and the organization's strategy for managing them.
What is the impact of 0% officer compensation on the organization's operational model?
The consistent 0% officer compensation across all filings suggests that the organization is either entirely volunteer-run at the executive level or that executive services are provided by an affiliated entity or through other means not reported as direct compensation. This significantly reduces administrative overhead and allows a greater proportion of funds to be allocated directly to program services, enhancing spending efficiency.
Has the organization experienced significant growth or contraction in recent years?
The organization's revenue has been relatively stable, hovering around $1.8 million to $2.1 million over the past six years, with the latest revenue at $2,062,599. Assets have fluctuated, peaking at $5,569,181 in 201905 and currently at $5,179,057. This indicates a stable, rather than rapidly growing or contracting, operational scale.
Filing History
IRS 990 filing history for 1712 & 1715 Housing Development Fund Co Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), 1712 & 1715 Housing Development Fund Co Inc's revenue has grown by 30.5%, moving from $1.5M to $1.9M. Total assets decreased by 12% over the same period, from $5.3M to $4.6M. Total functional expenses rose by 9.5%, from $1.6M to $1.8M. In its most recent filing year (2023), 1712 & 1715 Housing Development Fund Co Inc reported a surplus of $134K, with revenue exceeding expenses. The organization holds $5.5M in liabilities against $4.6M in assets (debt-to-asset ratio: 118.8%), resulting in net assets of $-867,925.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $1.8M | $4.6M | $5.5M | — | View 990 |
| 2022 | $2.0M | $2.3M | $4.6M | $5.6M | — | View 990 |
| 2021 | $2.0M | $1.8M | $4.9M | $5.7M | — | View 990 |
| 2020 | $1.9M | $1.8M | $4.9M | $5.7M | — | View 990 |
| 2019 | $2.1M | $1.7M | $5.6M | $6.5M | — | View 990 |
| 2018 | $1.5M | $1.6M | $5.3M | $6.7M | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $1.8M, and assets of $4.6M (revenue -3.3% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.3M, and assets of $4.6M (revenue +1.0% year-over-year).
- 2021: Revenue of $2.0M, expenses of $1.8M, and assets of $4.9M (revenue +6.2% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.8M, and assets of $4.9M (revenue -12.8% year-over-year).
- 2019: Revenue of $2.1M, expenses of $1.7M, and assets of $5.6M (revenue +44.2% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.6M, and assets of $5.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for 1712 & 1715 Housing Development Fund Co Inc:
Data Sources and Methodology
This transparency report for 1712 & 1715 Housing Development Fund Co Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.