Breaking Ground Iv Housing Development Fund Corporation
Breaking Ground Iv Housing Development Fund Corporation consistently operates at a deficit with significant liabilities exceeding assets.
EIN: 134196931 · New York, NY · NTEE: L41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.3M |
| Total Expenses | $6.7M |
| Program Spending | 80% |
| Net Assets | $-8,570,098 |
| Transparency Score | 65/100 |
Is Breaking Ground Iv Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Breaking Ground Iv Housing Development Fund Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Breaking Ground Iv Housing Development Fund Corporation
Breaking Ground Iv Housing Development Fund Corporation (EIN: 134196931) is a nonprofit organization based in New York, NY, classified under NTEE code L41. The organization reported total revenue of $6.3M and total assets of $13.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Breaking Ground Iv 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 Iv Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 24 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.1M |
| Total Expenses | $6.7M |
| Surplus / Deficit | $-572,756 |
| Total Assets | $15.9M |
| Total Liabilities | $24.5M |
| Net Assets | $-8,570,098 |
| Operating Margin | -9.3% |
| Debt-to-Asset Ratio | 153.7% |
| Months of Reserves | 28.5 months |
Financial Health Grade: C
In 2023, Breaking Ground Iv Housing Development Fund Corporation reported a deficit of $573K with expenses exceeding revenue, holds 28.5 months of operating reserves (strong position), has a debt-to-asset ratio of 153.7% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Breaking Ground Iv Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +18.9% | +18.8% | +22.2% |
| 2022 | +29.7% | +18.8% | +9.1% |
| 2021 | -5.8% | -5.9% | -7.7% |
| 2020 | -5.6% | +3.7% | -9.5% |
| 2019 | +21.2% | +14.9% | +5.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Iv Housing Development Fund Corporation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Breaking Ground Iv Housing Development Fund Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $573K, with expenses exceeding revenue.
- Debt-to-asset ratio: 153.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and suggests either a volunteer leadership structure or that compensation is reported under different expense categories, requiring further scrutiny.
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 Breaking Ground Iv Housing Development Fund Corporation's IRS 990 filings:
- Consistent operating deficits (e.g., $572,756 in 2023)
- Liabilities significantly exceed assets, indicating a negative net asset position (e.g., $24,516,133 liabilities vs. $15,946,035 assets in 2023)
- Unusually low or zero reported officer compensation, which may obscure true leadership costs or compensation structures.
Strengths
The following positive indicators were identified for Breaking Ground Iv Housing Development Fund Corporation:
- Consistent filing of IRS Form 990s over 14 periods, indicating good transparency practices.
- Growing revenue trend over the past few years (e.g., from $3,976,423 in 2021 to $6,130,660 in 2023).
Frequently Asked Questions about Breaking Ground Iv Housing Development Fund Corporation
Is Breaking Ground Iv Housing Development Fund Corporation a legitimate charity?
Breaking Ground Iv Housing Development Fund Corporation (EIN: 134196931) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 14 years of IRS 990 filings on record. Total revenue: $6.3M. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Breaking Ground Iv Housing Development Fund Corporation spend its money?
Breaking Ground Iv Housing Development Fund Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Breaking Ground Iv Housing Development Fund Corporation tax-deductible?
Breaking Ground Iv Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 134196931). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Breaking Ground Iv Housing Development Fund Corporation's spending goes to programs?
Breaking Ground Iv Housing Development Fund Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Breaking Ground Iv Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Breaking Ground Iv Housing Development Fund Corporation is above average for NTEE category L41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Breaking Ground Iv Housing Development Fund Corporation located?
Breaking Ground Iv Housing Development Fund Corporation is headquartered in New York, New York and files with the IRS under EIN 134196931. It is classified under NTEE code L41.
How many years of IRS 990 filings does Breaking Ground Iv Housing Development Fund Corporation have?
Breaking Ground Iv 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 $6.3M in total revenue.
How does Breaking Ground Iv Housing Development Fund Corporation cover its consistent operating deficits?
The organization consistently reports expenses exceeding revenue, such as a $572,756 deficit in 2023. This suggests a reliance on drawing from prior reserves, external grants not classified as revenue, or other financing to sustain operations.
What is the nature of the significant liabilities reported by the organization?
The organization consistently reports liabilities significantly exceeding assets (e.g., $24,516,133 liabilities vs. $15,946,035 assets in 2023). Given its NTEE code (L41 - Housing Development, Construction & Management), these liabilities likely relate to mortgages, construction loans, or other financing for housing projects.
Is the 0% officer compensation accurate, and if so, how is leadership compensated?
The consistent reporting of 0% officer compensation is unusual. It could indicate a volunteer board, leadership compensated through a related entity, or compensation being categorized differently within the expense structure. Further detail from the full 990 filing would be needed to clarify.
Filing History
IRS 990 filing history for Breaking Ground Iv Housing Development Fund Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Breaking Ground Iv Housing Development Fund Corporation's revenue has grown by 127.8%, moving from $2.7M to $6.1M. Total assets decreased by 12.7% over the same period, from $18.3M to $15.9M. Total functional expenses rose by 92.5%, from $3.5M to $6.7M. In its most recent filing year (2023), Breaking Ground Iv Housing Development Fund Corporation reported a deficit of $573K, with expenses exceeding revenue. The organization holds $24.5M in liabilities against $15.9M in assets (debt-to-asset ratio: 153.7%), resulting in net assets of $-8,570,098.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.1M | $6.7M | $15.9M | $24.5M | — | — |
| 2022 | $5.2M | $5.6M | $13.1M | $21.0M | — | View 990 |
| 2021 | $4.0M | $4.8M | $12.0M | $19.5M | — | View 990 |
| 2020 | $4.2M | $5.0M | $13.0M | $19.7M | — | View 990 |
| 2019 | $4.5M | $4.9M | $14.3M | $20.2M | — | View 990 |
| 2018 | $3.7M | $4.2M | $13.6M | $19.1M | — | View 990 |
| 2017 | $3.8M | $4.3M | $14.2M | $19.2M | — | View 990 |
| 2016 | $3.9M | $4.3M | $14.8M | $19.2M | — | View 990 |
| 2015 | $3.8M | $4.3M | $15.8M | $19.7M | — | View 990 |
| 2014 | $3.1M | $4.0M | $15.2M | $18.6M | — | View 990 |
| 2013 | $3.2M | $4.0M | $15.7M | $18.1M | — | View 990 |
| 2012 | $3.1M | $4.2M | $17.1M | $18.8M | — | View 990 |
| 2011 | $3.8M | $4.3M | $17.8M | $18.4M | — | View 990 |
| 2010 | $2.7M | $3.5M | $18.3M | $18.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.1M, expenses of $6.7M, and assets of $15.9M (revenue +18.9% year-over-year).
- 2022: Revenue of $5.2M, expenses of $5.6M, and assets of $13.1M (revenue +29.7% year-over-year).
- 2021: Revenue of $4.0M, expenses of $4.8M, and assets of $12.0M (revenue -5.8% year-over-year).
- 2020: Revenue of $4.2M, expenses of $5.0M, and assets of $13.0M (revenue -5.6% year-over-year).
- 2019: Revenue of $4.5M, expenses of $4.9M, and assets of $14.3M (revenue +21.2% year-over-year).
- 2018: Revenue of $3.7M, expenses of $4.2M, and assets of $13.6M (revenue -2.9% year-over-year).
- 2017: Revenue of $3.8M, expenses of $4.3M, and assets of $14.2M (revenue -1.4% year-over-year).
- 2016: Revenue of $3.9M, expenses of $4.3M, and assets of $14.8M (revenue +1.0% year-over-year).
- 2015: Revenue of $3.8M, expenses of $4.3M, and assets of $15.8M (revenue +23.4% year-over-year).
- 2014: Revenue of $3.1M, expenses of $4.0M, and assets of $15.2M (revenue -4.9% year-over-year).
- 2013: Revenue of $3.2M, expenses of $4.0M, and assets of $15.7M (revenue +6.5% year-over-year).
- 2012: Revenue of $3.1M, expenses of $4.2M, and assets of $17.1M (revenue -19.9% year-over-year).
- 2011: Revenue of $3.8M, expenses of $4.3M, and assets of $17.8M (revenue +41.5% year-over-year).
- 2010: Revenue of $2.7M, expenses of $3.5M, and assets of $18.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Breaking Ground Iv Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Breaking Ground Iv 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.