Agate Housing And Services Inc
Agate Housing And Services Inc shows strong asset growth and no reported executive compensation, despite a recent operating deficit.
EIN: 10639118 · Minneapolis, MN · NTEE: X112 · Updated: 2026-03-28
Is Agate Housing And Services Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Agate Housing And Services Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Agate Housing And Services Inc
Agate Housing And Services Inc (EIN: 10639118) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code X112. The organization reported total revenue of $18.6M and total assets of $15.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Agate Housing And Services Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Agate Housing And Services Inc with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Agate Housing And Services Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Agate Housing And Services Inc consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size ($18.6 million latest revenue) and suggests a strong commitment to directing funds to its mission.
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 Agate Housing And Services Inc's IRS 990 filings:
- Operating deficit in the most recent filing period (202306) where expenses exceeded revenue by $1.95 million.
Strengths
The following positive indicators were identified for Agate Housing And Services Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating high efficiency in executive spending.
- Significant asset growth from $3.7 million in 2014 to $17.6 million in 2023, demonstrating strong financial health.
- Stable revenue generation over the past decade, consistently in the $12 million to $20 million range.
- Strong program focus, as implied by the lack of executive compensation and the nature of the NTEE code (X112 - Housing/Shelter).
Frequently Asked Questions about Agate Housing And Services Inc
Is Agate Housing And Services Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Agate Housing And Services Inc (EIN: 10639118) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Agate Housing And Services Inc spend its money?
Agate Housing And Services Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Agate Housing And Services Inc tax-deductible?
Agate Housing And Services Inc is registered as a tax-exempt nonprofit (EIN: 10639118). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Agate Housing And Services Inc a good charity?
Based on its financial data, Agate Housing And Services Inc appears to be a good charity. It demonstrates strong program spending, significant asset growth, and a notable absence of executive compensation, all of which are positive indicators for donors.
What caused the deficit in the 202306 period?
The IRS 990 data shows that in the 202306 period, expenses ($19,083,188) exceeded revenue ($17,132,224) by approximately $1.95 million. The specific causes for this increase in expenses relative to revenue are not detailed in the summary data provided but could be due to increased program delivery costs, one-time investments, or a temporary dip in funding.
How has the organization's asset base changed over time?
Agate Housing And Services Inc has shown remarkable asset growth, increasing from $3,796,085 in 2014 to $17,628,506 in 2023, indicating a significant accumulation of resources and financial stability over the past decade.
Filing History
IRS 990 filing history for Agate Housing And Services Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Agate Housing And Services Inc's revenue has grown by 59.5%, moving from $10.7M to $17.1M. Total assets increased by 362.2% over the same period, from $3.8M to $17.6M. Total functional expenses rose by 81.1%, from $10.5M to $19.1M. In its most recent filing year (2023), Agate Housing And Services Inc reported a deficit of $2.0M, with expenses exceeding revenue. The organization holds $5.5M in liabilities against $17.6M in assets (debt-to-asset ratio: 31.4%), resulting in net assets of $12.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $17.1M | $19.1M | $17.6M | $5.5M | — | View 990 |
| 2022 | $18.1M | $17.7M | $17.1M | $3.3M | — | View 990 |
| 2021 | $20.1M | $19.8M | $18.1M | $3.5M | — | View 990 |
| 2020 | $19.1M | $13.1M | $12.7M | $2.4M | — | View 990 |
| 2019 | $12.7M | $12.4M | $5.1M | $953K | — | View 990 |
| 2018 | $12.5M | $12.5M | $4.9M | $998K | — | — |
| 2017 | $12.7M | $11.9M | $4.7M | $690K | — | View 990 |
| 2016 | $11.6M | $12.0M | $3.7M | $678K | — | View 990 |
| 2015 | $12.0M | $11.7M | $4.1M | $585K | — | View 990 |
| 2014 | $11.8M | $11.9M | $3.8M | $669K | — | View 990 |
| 2013 | $12.0M | $11.9M | $3.8M | $697K | — | View 990 |
| 2012 | $10.7M | $10.5M | $3.8M | $886K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $17.1M, expenses of $19.1M, and assets of $17.6M (revenue -5.6% year-over-year).
- 2022: Revenue of $18.1M, expenses of $17.7M, and assets of $17.1M (revenue -9.9% year-over-year).
- 2021: Revenue of $20.1M, expenses of $19.8M, and assets of $18.1M (revenue +5.3% year-over-year).
- 2020: Revenue of $19.1M, expenses of $13.1M, and assets of $12.7M (revenue +50.9% year-over-year).
- 2019: Revenue of $12.7M, expenses of $12.4M, and assets of $5.1M (revenue +1.6% year-over-year).
- 2018: Revenue of $12.5M, expenses of $12.5M, and assets of $4.9M (revenue -1.4% year-over-year).
- 2017: Revenue of $12.7M, expenses of $11.9M, and assets of $4.7M (revenue +9.5% year-over-year).
- 2016: Revenue of $11.6M, expenses of $12.0M, and assets of $3.7M (revenue -3.9% year-over-year).
- 2015: Revenue of $12.0M, expenses of $11.7M, and assets of $4.1M (revenue +2.2% year-over-year).
- 2014: Revenue of $11.8M, expenses of $11.9M, and assets of $3.8M (revenue -2.1% year-over-year).
- 2013: Revenue of $12.0M, expenses of $11.9M, and assets of $3.8M (revenue +12.0% year-over-year).
- 2012: Revenue of $10.7M, expenses of $10.5M, and assets of $3.8M.
Data Sources and Methodology
This transparency report for Agate Housing And Services 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.