Brighton Beach Housing Development Fund Company Inc
Brighton Beach Housing Development Fund Company Inc shows significant asset growth and consistent operations, with occasional expense spikes likely tied to housing development.
EIN: 133042331 · New York, NY · NTEE: L200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.1M |
| Total Expenses | $4.0M |
| Program Spending | 85% |
| Net Assets | $-9,126,868 |
| Transparency Score | 85/100 |
Is Brighton Beach Housing Development Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Brighton Beach Housing Development Fund Company Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Brighton Beach Housing Development Fund Company Inc
Brighton Beach Housing Development Fund Company Inc (EIN: 133042331) is a nonprofit organization based in New York, NY, classified under NTEE code L200. The organization reported total revenue of $4.1M and total assets of $12.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Brighton Beach Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Brighton Beach Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 46 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.8M |
| Total Expenses | $4.0M |
| Surplus / Deficit | $-199,885 |
| Total Assets | $21.9M |
| Total Liabilities | $31.0M |
| Net Assets | $-9,126,868 |
| Operating Margin | -5.3% |
| Debt-to-Asset Ratio | 141.7% |
| Months of Reserves | 65.5 months |
Financial Health Grade: C
In 2023, Brighton Beach Housing Development Fund Company Inc reported a deficit of $200K with expenses exceeding revenue, holds 65.5 months of operating reserves (strong position), has a debt-to-asset ratio of 141.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Brighton Beach Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.0% | +20.4% | -0.9% |
| 2022 | +11.8% | -68.7% | +0.0% |
| 2021 | +24.5% | +315.2% | +314.5% |
| 2020 | +0.8% | +0.5% | +0.4% |
| 2019 | +1.2% | +0.2% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1980 |
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 Brighton Beach Housing Development Fund Company 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Brighton Beach Housing Development Fund Company 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $200K, with expenses exceeding revenue.
- Debt-to-asset ratio: 141.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers, directors, trustees, or key employees, which is a strong indicator of financial efficiency and transparency in this area.
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 Brighton Beach Housing Development Fund Company Inc's IRS 990 filings:
- Negative net assets in recent years (e.g., 2023: Assets $21,863,054 vs. Liabilities $30,989,922)
- Significant expense spikes in certain years without clear explanation in the provided data (e.g., 2021 expenses of $10.6M against $3.2M revenue)
Strengths
The following positive indicators were identified for Brighton Beach Housing Development Fund Company Inc:
- Consistent reporting of 0% officer compensation, indicating strong transparency and efficiency in executive pay.
- Significant asset growth over time, suggesting successful acquisition or development of housing properties.
- Long operational history with 13 filings, indicating stability and sustained commitment to its mission.
- Generally stable revenue streams over the past decade, supporting ongoing operations.
Frequently Asked Questions about Brighton Beach Housing Development Fund Company Inc
Is Brighton Beach Housing Development Fund Company Inc a legitimate charity?
Brighton Beach Housing Development Fund Company Inc (EIN: 133042331) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $4.1M. 2 red flags identified. 4 strengths noted. Financial health grade: C.
How does Brighton Beach Housing Development Fund Company Inc spend its money?
Brighton Beach Housing Development Fund Company Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Brighton Beach Housing Development Fund Company Inc tax-deductible?
Brighton Beach Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133042331). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Brighton Beach Housing Development Fund Company Inc's spending goes to programs?
Brighton Beach Housing Development Fund Company Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Brighton Beach Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Brighton Beach Housing Development Fund Company Inc is above average for NTEE category L200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Brighton Beach Housing Development Fund Company Inc located?
Brighton Beach Housing Development Fund Company Inc is headquartered in New York, New York and files with the IRS under EIN 133042331. It is classified under NTEE code L200.
How many years of IRS 990 filings does Brighton Beach Housing Development Fund Company Inc have?
Brighton Beach Housing Development Fund Company Inc has 13 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 $4.1M in total revenue.
Is Brighton Beach Housing Development Fund Company Inc a good charity?
Based on the available data, the organization appears to be a good charity, particularly given its consistent operations, significant asset growth indicative of mission-related activities, and excellent transparency regarding executive compensation (0% reported).
Why did expenses significantly exceed revenue in 2021?
In 2021, expenses were $10,634,582 while revenue was $3,270,016. This substantial difference likely reflects a major capital expenditure or investment in housing development projects, aligning with the organization's mission and the concurrent large increase in assets and liabilities.
What caused the large increase in assets and liabilities between 2020 and 2021?
Assets increased from $5,321,641 in 2020 to $22,060,771 in 2021, and liabilities from $7,024,582 to $31,317,511. This significant jump suggests the acquisition or development of substantial housing properties, likely financed through debt, which is typical for housing development funds.
Filing History
IRS 990 filing history for Brighton Beach Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Brighton Beach Housing Development Fund Company Inc's revenue has grown by 66.7%, moving from $2.3M to $3.8M. Total assets increased by 243.9% over the same period, from $6.4M to $21.9M. Total functional expenses rose by 66.6%, from $2.4M to $4.0M. In its most recent filing year (2023), Brighton Beach Housing Development Fund Company Inc reported a deficit of $200K, with expenses exceeding revenue. The organization holds $31.0M in liabilities against $21.9M in assets (debt-to-asset ratio: 141.7%), resulting in net assets of $-9,126,868.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.8M | $4.0M | $21.9M | $31.0M | — | — |
| 2022 | $3.7M | $3.3M | $22.1M | $31.0M | — | View 990 |
| 2021 | $3.3M | $10.6M | $22.1M | $31.3M | — | View 990 |
| 2020 | $2.6M | $2.6M | $5.3M | $7.0M | — | View 990 |
| 2019 | $2.6M | $2.5M | $5.3M | $7.1M | — | View 990 |
| 2018 | $2.6M | $2.5M | $5.3M | $7.2M | — | View 990 |
| 2017 | $2.6M | $2.4M | $5.5M | $7.4M | — | View 990 |
| 2016 | $2.8M | $2.4M | $5.7M | $7.7M | — | View 990 |
| 2015 | $2.8M | $2.8M | $5.3M | $7.7M | — | View 990 |
| 2014 | $1.3M | $1.3M | $5.5M | $7.8M | — | View 990 |
| 2013 | $2.9M | $2.7M | $5.9M | $8.3M | — | View 990 |
| 2012 | $2.3M | $3.0M | $6.1M | $8.6M | — | View 990 |
| 2011 | $2.3M | $2.4M | $6.4M | $8.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.8M, expenses of $4.0M, and assets of $21.9M (revenue +4.0% year-over-year).
- 2022: Revenue of $3.7M, expenses of $3.3M, and assets of $22.1M (revenue +11.8% year-over-year).
- 2021: Revenue of $3.3M, expenses of $10.6M, and assets of $22.1M (revenue +24.5% year-over-year).
- 2020: Revenue of $2.6M, expenses of $2.6M, and assets of $5.3M (revenue +0.8% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.5M, and assets of $5.3M (revenue +1.2% year-over-year).
- 2018: Revenue of $2.6M, expenses of $2.5M, and assets of $5.3M (revenue -0.3% year-over-year).
- 2017: Revenue of $2.6M, expenses of $2.4M, and assets of $5.5M (revenue -6.5% year-over-year).
- 2016: Revenue of $2.8M, expenses of $2.4M, and assets of $5.7M (revenue -1.6% year-over-year).
- 2015: Revenue of $2.8M, expenses of $2.8M, and assets of $5.3M (revenue +108.0% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.3M, and assets of $5.5M (revenue -53.1% year-over-year).
- 2013: Revenue of $2.9M, expenses of $2.7M, and assets of $5.9M (revenue +26.0% year-over-year).
- 2012: Revenue of $2.3M, expenses of $3.0M, and assets of $6.1M (revenue +0.0% year-over-year).
- 2011: Revenue of $2.3M, expenses of $2.4M, and assets of $6.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Brighton Beach Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Brighton Beach Housing Development Fund Company 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.