Carnegie East House Housing Development Fund Company Inc
Carnegie East House consistently operates with liabilities exceeding assets, despite stable revenue and expense management.
EIN: 133436898 · New York, NY · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.5M |
| Total Expenses | $7.2M |
| Program Spending | 85% |
| Net Assets | $-4,188,578 |
| Transparency Score | 70/100 |
Is Carnegie East House 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 →
Carnegie East House Housing Development Fund Company Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carnegie East House Housing Development Fund Company Inc
Carnegie East House Housing Development Fund Company Inc (EIN: 133436898) is a nonprofit organization based in New York, NY, classified under NTEE code L22. The organization reported total revenue of $7.5M and total assets of $20.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carnegie East House Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carnegie East House Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 26 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.5M |
| Total Expenses | $7.2M |
| Surplus / Deficit | +$295K |
| Total Assets | $21.2M |
| Total Liabilities | $25.4M |
| Net Assets | $-4,188,578 |
| Operating Margin | 3.9% |
| Debt-to-Asset Ratio | 119.7% |
| Months of Reserves | 35.2 months |
Financial Health Grade: A
In 2023, Carnegie East House Housing Development Fund Company Inc reported a surplus of $295K with revenue exceeding expenses, holds 35.2 months of operating reserves (strong position), has a debt-to-asset ratio of 119.7% (high leverage).
Financial Trends
Over 12 years of filings (2011–2023), Carnegie East House Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.5% | +2.1% | +1.2% |
| 2022 | +6.7% | -4.1% | -3.8% |
| 2021 | -7.0% | +1.6% | -3.8% |
| 2020 | +5.0% | +7.3% | -2.9% |
| 2019 | +6.1% | +4.4% | -2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Carnegie East House Housing Development Fund Company Inc with a Mission Score of 70 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Carnegie East House 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 surplus of $295K, with revenue exceeding expenses.
- Debt-to-asset ratio: 119.7%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership may be compensated through other means or that the organization operates with a volunteer executive structure, which is a positive sign for donor confidence.
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 Carnegie East House Housing Development Fund Company Inc's IRS 990 filings:
- Consistent liabilities significantly exceeding assets across all reported periods, indicating a potentially high debt burden or complex financial structure.
- Lack of detailed information regarding the nature of the substantial liabilities in the provided summary data.
Strengths
The following positive indicators were identified for Carnegie East House Housing Development Fund Company Inc:
- Consistent revenue generation that generally covers expenses, demonstrating operational stability (e.g., 202303 revenue $7,539,384 vs. expenses $7,244,873).
- Reported 0% officer compensation, suggesting efficient use of funds for leadership or a strong volunteer base.
- Stable asset base over time, despite the liability structure (e.g., assets around $20-26 million over the past decade).
Frequently Asked Questions about Carnegie East House Housing Development Fund Company Inc
Is Carnegie East House Housing Development Fund Company Inc a legitimate charity?
Carnegie East House Housing Development Fund Company Inc (EIN: 133436898) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 12 years of IRS 990 filings on record. Total revenue: $7.5M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Carnegie East House Housing Development Fund Company Inc spend its money?
Carnegie East House 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 Carnegie East House Housing Development Fund Company Inc tax-deductible?
Carnegie East House Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133436898). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Carnegie East House Housing Development Fund Company Inc's spending goes to programs?
Carnegie East House Housing Development Fund Company Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carnegie East House Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Carnegie East House Housing Development Fund Company Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carnegie East House Housing Development Fund Company Inc located?
Carnegie East House Housing Development Fund Company Inc is headquartered in New York, New York and files with the IRS under EIN 133436898. It is classified under NTEE code L22.
How many years of IRS 990 filings does Carnegie East House Housing Development Fund Company Inc have?
Carnegie East House Housing Development Fund Company Inc has 12 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 $7.5M in total revenue.
What is the nature of Carnegie East House's significant liabilities?
The consistent trend of liabilities exceeding assets (e.g., $25,415,677 in liabilities vs. $21,227,099 in assets for 202303) suggests substantial long-term debt or obligations, likely related to its housing development and management activities as indicated by its NTEE code L22. Further investigation into their balance sheet would clarify the specific types of liabilities.
How does Carnegie East House fund its operations given its asset-liability structure?
Despite liabilities exceeding assets, the organization consistently generates sufficient revenue to cover expenses (e.g., $7,539,384 revenue vs. $7,244,873 expenses in 202303). This implies a stable operational cash flow, potentially supported by rental income, government subsidies, or other program-related revenues typical for housing development funds.
Is the 0% officer compensation sustainable or indicative of other compensation structures?
While 0% officer compensation is reported, it's important to understand if executives are compensated through related entities, management fees, or if the organization truly operates with volunteer leadership. This practice, if genuinely volunteer-driven, is highly efficient; if compensation is hidden, it could be a transparency concern.
Filing History
IRS 990 filing history for Carnegie East House Housing Development Fund Company Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Carnegie East House Housing Development Fund Company Inc's revenue has grown by 24.9%, moving from $6.0M to $7.5M. Total assets decreased by 26.6% over the same period, from $28.9M to $21.2M. Total functional expenses rose by 4%, from $7.0M to $7.2M. In its most recent filing year (2023), Carnegie East House Housing Development Fund Company Inc reported a surplus of $295K, with revenue exceeding expenses. The organization holds $25.4M in liabilities against $21.2M in assets (debt-to-asset ratio: 119.7%), resulting in net assets of $-4,188,578.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.5M | $7.2M | $21.2M | $25.4M | — | View 990 |
| 2022 | $6.9M | $7.1M | $21.0M | $25.5M | — | View 990 |
| 2021 | $6.5M | $7.4M | $21.8M | $26.1M | — | View 990 |
| 2020 | $7.0M | $7.3M | $22.7M | $26.1M | — | View 990 |
| 2019 | $6.7M | $6.8M | $23.3M | $26.5M | — | View 990 |
| 2018 | $6.3M | $6.5M | $23.8M | $26.8M | — | View 990 |
| 2017 | $6.1M | $6.6M | $24.4M | $27.2M | — | View 990 |
| 2016 | $6.2M | $6.5M | $25.4M | $27.6M | — | View 990 |
| 2015 | $6.3M | $6.7M | $26.2M | $28.1M | — | View 990 |
| 2014 | $6.0M | $6.2M | $27.0M | $28.5M | — | View 990 |
| 2012 | $6.1M | $6.7M | $28.0M | $28.9M | — | View 990 |
| 2011 | $6.0M | $7.0M | $28.9M | $29.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.5M, expenses of $7.2M, and assets of $21.2M (revenue +8.5% year-over-year).
- 2022: Revenue of $6.9M, expenses of $7.1M, and assets of $21.0M (revenue +6.7% year-over-year).
- 2021: Revenue of $6.5M, expenses of $7.4M, and assets of $21.8M (revenue -7.0% year-over-year).
- 2020: Revenue of $7.0M, expenses of $7.3M, and assets of $22.7M (revenue +5.0% year-over-year).
- 2019: Revenue of $6.7M, expenses of $6.8M, and assets of $23.3M (revenue +6.1% year-over-year).
- 2018: Revenue of $6.3M, expenses of $6.5M, and assets of $23.8M (revenue +2.9% year-over-year).
- 2017: Revenue of $6.1M, expenses of $6.6M, and assets of $24.4M (revenue -0.8% year-over-year).
- 2016: Revenue of $6.2M, expenses of $6.5M, and assets of $25.4M (revenue -1.9% year-over-year).
- 2015: Revenue of $6.3M, expenses of $6.7M, and assets of $26.2M (revenue +3.6% year-over-year).
- 2014: Revenue of $6.0M, expenses of $6.2M, and assets of $27.0M (revenue -0.2% year-over-year).
- 2012: Revenue of $6.1M, expenses of $6.7M, and assets of $28.0M (revenue +0.4% year-over-year).
- 2011: Revenue of $6.0M, expenses of $7.0M, and assets of $28.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carnegie East House Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Carnegie East House 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.