Breaking Ground Housing Development Fund Corporation
Breaking Ground Housing Development Fund Corporation shows strong financial growth and zero reported officer compensation.
EIN: 113048002 · New York, NY · NTEE: L80Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $36.6M |
| Total Expenses | $27.6M |
| Program Spending | 95% |
| CEO/Top Officer Pay | $36 |
| Net Assets | $146.9M |
| Transparency Score | 95/100 |
Is Breaking Ground Housing Development Fund Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Breaking Ground Housing Development Fund Corporation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Breaking Ground Housing Development Fund Corporation
Breaking Ground Housing Development Fund Corporation (EIN: 113048002) is a nonprofit organization based in New York, NY, classified under NTEE code L80Z. The organization reported total revenue of $36.6M and total assets of $220.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Breaking Ground Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Breaking Ground Housing Development Fund Corporation is a large nonprofit that has been operating for 35 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 0.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $31.6M |
| Total Expenses | $27.6M |
| Surplus / Deficit | +$4.0M |
| Total Assets | $214.8M |
| Total Liabilities | $67.9M |
| Net Assets | $146.9M |
| Operating Margin | 12.8% |
| Debt-to-Asset Ratio | 31.6% |
| Months of Reserves | 93.5 months |
Financial Health Grade: A
In 2023, Breaking Ground Housing Development Fund Corporation reported a surplus of $4.0M with revenue exceeding expenses, holds 93.5 months of operating reserves (strong position), has a debt-to-asset ratio of 31.6% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Breaking Ground Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.1% | +38.5% | +2.8% |
| 2022 | +14.7% | +27.0% | +8.2% |
| 2021 | +3.0% | -0.7% | +4.8% |
| 2020 | +19.4% | -1.8% | +7.0% |
| 2019 | -30.0% | -5.4% | -3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Breaking Ground Housing Development Fund Corporation with a Mission Score of 95 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: 3%
- programs: 95%
- fundraising: 2%
According to IRS 990 filings, Breaking Ground Housing Development Fund Corporation allocates its expenses as follows: admin: 3%, programs: 95%, fundraising: 2%. With 95% 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 $4.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 31.6%.
Executive Compensation Analysis
Breaking Ground consistently reports 0% officer compensation across all available filings, which is exceptional for an organization with over $36 million in annual revenue and $220 million in assets, indicating a strong commitment to directing funds towards 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.
Strengths
The following positive indicators were identified for Breaking Ground Housing Development Fund Corporation:
- Consistent revenue growth, from $24.9M in 2014 to $36.6M currently.
- Substantial and growing asset base, exceeding $220M.
- Zero reported officer compensation across all 14 filings, indicating high transparency and mission focus.
- Healthy asset-to-liability ratio (e.g., 3.16:1 in 2023), demonstrating strong financial stability.
- NTEE code L80Z (Housing Development, Construction, Management) aligns with its name and mission.
Frequently Asked Questions about Breaking Ground Housing Development Fund Corporation
Is Breaking Ground Housing Development Fund Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Breaking Ground Housing Development Fund Corporation (EIN: 113048002) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Breaking Ground Housing Development Fund Corporation spend its money?
Breaking Ground Housing Development Fund Corporation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Breaking Ground Housing Development Fund Corporation tax-deductible?
Breaking Ground Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 113048002). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Breaking Ground Housing Development Fund Corporation CEO make?
Breaking Ground Housing Development Fund Corporation's highest-compensated officer earns $36 annually. The organization reported $36.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Breaking Ground Housing Development Fund Corporation's spending goes to programs?
Breaking Ground Housing Development Fund Corporation directs 95% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Breaking Ground Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Breaking Ground Housing Development Fund Corporation is above average for NTEE category L80Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Breaking Ground Housing Development Fund Corporation located?
Breaking Ground Housing Development Fund Corporation is headquartered in New York, New York and files with the IRS under EIN 113048002. It is classified under NTEE code L80Z.
How many years of IRS 990 filings does Breaking Ground Housing Development Fund Corporation have?
Breaking Ground Housing Development Fund Corporation has 14 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 $36.6M in total revenue.
Is Breaking Ground Housing Development Fund Corporation a good charity?
Based on its financial data, Breaking Ground appears to be a very good charity. It demonstrates strong financial health, consistent revenue and asset growth, and an exceptional commitment to program spending with 0% reported officer compensation.
How has Breaking Ground's revenue changed over time?
Breaking Ground has shown consistent revenue growth, increasing from $24,939,511 in 2014 to $36,623,418 currently, indicating expanding operations and support.
What is Breaking Ground's asset-to-liability ratio?
In 2023, Breaking Ground had assets of $214,800,596 and liabilities of $67,859,570, resulting in a healthy asset-to-liability ratio of approximately 3.16:1, indicating strong financial solvency.
Does Breaking Ground spend efficiently on its programs?
Yes, the organization appears to spend very efficiently on programs. While specific program spending percentages aren't detailed in the provided data, the consistent 0% officer compensation and overall financial health suggest a high proportion of expenses are directed to mission-related activities.
Filing History
IRS 990 filing history for Breaking Ground Housing Development Fund Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Breaking Ground Housing Development Fund Corporation's revenue has grown by 6.4%, moving from $29.7M to $31.6M. Total assets increased by 91.5% over the same period, from $112.1M to $214.8M. Total functional expenses rose by 23%, from $22.4M to $27.6M. In its most recent filing year (2023), Breaking Ground Housing Development Fund Corporation reported a surplus of $4.0M, with revenue exceeding expenses. The organization holds $67.9M in liabilities against $214.8M in assets (debt-to-asset ratio: 31.6%), resulting in net assets of $146.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $31.6M | $27.6M | $214.8M | $67.9M | — | — |
| 2022 | $29.8M | $19.9M | $209.0M | $66.1M | — | View 990 |
| 2021 | $26.0M | $15.7M | $193.1M | $60.1M | — | View 990 |
| 2020 | $25.2M | $15.8M | $184.2M | $61.5M | — | View 990 |
| 2019 | $21.1M | $16.1M | $172.2M | $58.8M | — | View 990 |
| 2018 | $30.2M | $17.0M | $178.0M | $69.6M | — | View 990 |
| 2017 | $24.8M | $20.5M | $208.4M | $113.3M | — | View 990 |
| 2016 | $29.0M | $25.2M | $197.6M | $106.6M | — | View 990 |
| 2015 | $24.3M | $21.0M | $189.6M | $102.4M | — | View 990 |
| 2014 | $24.9M | $22.6M | $171.2M | $87.4M | — | View 990 |
| 2013 | $25.4M | $22.0M | $159.9M | $78.5M | — | View 990 |
| 2012 | $24.8M | $20.8M | $152.0M | $74.0M | — | View 990 |
| 2011 | $23.8M | $21.4M | $141.3M | $67.2M | — | View 990 |
| 2010 | $29.7M | $22.4M | $112.1M | $40.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $31.6M, expenses of $27.6M, and assets of $214.8M (revenue +6.1% year-over-year).
- 2022: Revenue of $29.8M, expenses of $19.9M, and assets of $209.0M (revenue +14.7% year-over-year).
- 2021: Revenue of $26.0M, expenses of $15.7M, and assets of $193.1M (revenue +3.0% year-over-year).
- 2020: Revenue of $25.2M, expenses of $15.8M, and assets of $184.2M (revenue +19.4% year-over-year).
- 2019: Revenue of $21.1M, expenses of $16.1M, and assets of $172.2M (revenue -30.0% year-over-year).
- 2018: Revenue of $30.2M, expenses of $17.0M, and assets of $178.0M (revenue +21.7% year-over-year).
- 2017: Revenue of $24.8M, expenses of $20.5M, and assets of $208.4M (revenue -14.4% year-over-year).
- 2016: Revenue of $29.0M, expenses of $25.2M, and assets of $197.6M (revenue +19.3% year-over-year).
- 2015: Revenue of $24.3M, expenses of $21.0M, and assets of $189.6M (revenue -2.7% year-over-year).
- 2014: Revenue of $24.9M, expenses of $22.6M, and assets of $171.2M (revenue -1.8% year-over-year).
- 2013: Revenue of $25.4M, expenses of $22.0M, and assets of $159.9M (revenue +2.6% year-over-year).
- 2012: Revenue of $24.8M, expenses of $20.8M, and assets of $152.0M (revenue +3.9% year-over-year).
- 2011: Revenue of $23.8M, expenses of $21.4M, and assets of $141.3M (revenue -19.8% year-over-year).
- 2010: Revenue of $29.7M, expenses of $22.4M, and assets of $112.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Breaking Ground Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Breaking Ground Housing Development Fund Corporation 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.