Canaan Baptist Housing Development Fund Corp
Canaan Baptist Housing Development Fund Corp shows recent positive net income but carries substantial and growing liabilities.
EIN: 133584871 · Queens Vlg, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $2.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $-2,700,433 |
| Transparency Score | 65/100 |
Is Canaan Baptist Housing Development Fund Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Canaan Baptist Housing Development Fund Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Canaan Baptist Housing Development Fund Corp
Canaan Baptist Housing Development Fund Corp (EIN: 133584871) is a nonprofit organization based in Queens Vlg, NY. The organization reported total revenue of $2.5M and total assets of $6.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Canaan Baptist Housing Development Fund Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Canaan Baptist Housing Development Fund Corp is a mid-size nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $2.1M |
| Surplus / Deficit | +$302K |
| Total Assets | $6.1M |
| Total Liabilities | $8.8M |
| Net Assets | $-2,700,433 |
| Operating Margin | 12.6% |
| Debt-to-Asset Ratio | 144.3% |
| Months of Reserves | 34.7 months |
Financial Health Grade: A
In 2023, Canaan Baptist Housing Development Fund Corp reported a surplus of $302K with revenue exceeding expenses, holds 34.7 months of operating reserves (strong position), has a debt-to-asset ratio of 144.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Canaan Baptist Housing Development Fund Corp's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +32.5% | +4.4% | +12.1% |
| 2022 | +6.4% | +2.4% | -6.6% |
| 2021 | -1.2% | +4.0% | -4.4% |
| 2020 | +5.7% | +6.0% | -0.3% |
| 2019 | -3.1% | +1.1% | -4.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
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 Canaan Baptist Housing Development Fund Corp 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, Canaan Baptist Housing Development Fund Corp 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 surplus of $302K, with revenue exceeding expenses.
- Debt-to-asset ratio: 144.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers are receiving salaries from the organization, which is unusual for an entity with over $2 million in annual revenue and could suggest volunteer leadership or compensation being covered by a related entity.
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 Canaan Baptist Housing Development Fund Corp's IRS 990 filings:
- Liabilities consistently and significantly exceed assets, reaching $8,790,904 in 202312 compared to $6,090,471 in assets.
- Persistent negative net income in several years (e.g., 202212, 202112, 202012, 201912, 201812, 201712, 201612) indicates a pattern of spending more than it earns.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data limits transparency into spending efficiency.
Strengths
The following positive indicators were identified for Canaan Baptist Housing Development Fund Corp:
- Consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to regulatory compliance.
- Reported 0% officer compensation across all filings suggests a dedication to minimizing administrative overhead at the executive level.
- Recent positive net income in 202312 ($2,405,548 revenue vs. $2,103,313 expenses) indicates an improvement in financial performance.
Frequently Asked Questions about Canaan Baptist Housing Development Fund Corp
Is Canaan Baptist Housing Development Fund Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Canaan Baptist Housing Development Fund Corp (EIN: 133584871) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Canaan Baptist Housing Development Fund Corp spend its money?
Canaan Baptist Housing Development Fund Corp directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Canaan Baptist Housing Development Fund Corp tax-deductible?
Canaan Baptist Housing Development Fund Corp is registered as a tax-exempt nonprofit (EIN: 133584871). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Canaan Baptist Housing Development Fund Corp CEO make?
Canaan Baptist Housing Development Fund Corp's highest-compensated officer earns $2 annually. The organization reported $2.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Canaan Baptist Housing Development Fund Corp's spending goes to programs?
Canaan Baptist Housing Development Fund Corp directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Canaan Baptist Housing Development Fund Corp located?
Canaan Baptist Housing Development Fund Corp is headquartered in Queens Vlg, New York and files with the IRS under EIN 133584871.
How many years of IRS 990 filings does Canaan Baptist Housing Development Fund Corp have?
Canaan Baptist Housing Development Fund Corp 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 $2.5M in total revenue.
What is the nature of Canaan Baptist Housing Development Fund Corp's significant and growing liabilities?
The filings consistently show liabilities exceeding assets, reaching $8,790,904 in 202312. Understanding the composition of these liabilities (e.g., mortgages, program-related debt, inter-company loans) is crucial for assessing financial risk.
How does the organization manage its operational expenses without officer compensation?
The consistent 0% officer compensation suggests either a fully volunteer executive team or that executive salaries are paid by a related entity, which would need clarification to fully understand the true cost of operations.
What are the specific program activities and their associated costs?
Without a detailed breakdown of program expenses, it's difficult to assess the direct impact and efficiency of the organization's mission-related spending.
Filing History
IRS 990 filing history for Canaan Baptist Housing Development Fund Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Canaan Baptist Housing Development Fund Corp's revenue has grown by 49.4%, moving from $1.6M to $2.4M. Total assets increased by 34.1% over the same period, from $4.5M to $6.1M. Total functional expenses rose by 59.2%, from $1.3M to $2.1M. In its most recent filing year (2023), Canaan Baptist Housing Development Fund Corp reported a surplus of $302K, with revenue exceeding expenses. The organization holds $8.8M in liabilities against $6.1M in assets (debt-to-asset ratio: 144.3%), resulting in net assets of $-2,700,433.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.1M | $6.1M | $8.8M | — | — |
| 2022 | $1.8M | $2.0M | $5.4M | $8.4M | — | — |
| 2021 | $1.7M | $2.0M | $5.8M | $8.6M | — | View 990 |
| 2020 | $1.7M | $1.9M | $6.1M | $8.6M | — | — |
| 2019 | $1.6M | $1.8M | $6.1M | $8.5M | — | View 990 |
| 2018 | $1.7M | $1.8M | $6.4M | $8.6M | — | View 990 |
| 2017 | $1.7M | $1.9M | $6.3M | $8.5M | — | View 990 |
| 2016 | $1.7M | $2.2M | $4.8M | $6.7M | — | View 990 |
| 2015 | $1.7M | $1.5M | $4.9M | $6.3M | — | View 990 |
| 2014 | $1.6M | $1.4M | $4.8M | $6.4M | — | View 990 |
| 2013 | $1.7M | $1.4M | $4.8M | $6.6M | — | View 990 |
| 2012 | $1.6M | $1.4M | $4.7M | $6.8M | — | View 990 |
| 2011 | $1.6M | $1.3M | $4.5M | $6.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.1M, and assets of $6.1M (revenue +32.5% year-over-year).
- 2022: Revenue of $1.8M, expenses of $2.0M, and assets of $5.4M (revenue +6.4% year-over-year).
- 2021: Revenue of $1.7M, expenses of $2.0M, and assets of $5.8M (revenue -1.2% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.9M, and assets of $6.1M (revenue +5.7% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.8M, and assets of $6.1M (revenue -3.1% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.8M, and assets of $6.4M (revenue +2.3% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.9M, and assets of $6.3M (revenue -4.5% year-over-year).
- 2016: Revenue of $1.7M, expenses of $2.2M, and assets of $4.8M (revenue +4.5% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.5M, and assets of $4.9M (revenue +1.4% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.4M, and assets of $4.8M (revenue -1.4% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.4M, and assets of $4.8M (revenue +1.1% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.4M, and assets of $4.7M (revenue +1.6% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.3M, and assets of $4.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Canaan Baptist Housing Development Fund Corp:
Data Sources and Methodology
This transparency report for Canaan Baptist Housing Development Fund Corp 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.