Catherine Sheridan Housing Development Fund Company Inc
Catherine Sheridan Housing Development Fund Company Inc shows asset growth and no officer compensation, but carries substantial liabilities.
EIN: 113636256 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $12.4M |
| Total Expenses | $5.9M |
| Program Spending | 80% |
| Net Assets | $-24,580,526 |
| Transparency Score | 75/100 |
Is Catherine Sheridan 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 →
Catherine Sheridan Housing Development Fund Company Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Catherine Sheridan Housing Development Fund Company Inc
Catherine Sheridan Housing Development Fund Company Inc (EIN: 113636256) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $12.4M and total assets of $29.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Catherine Sheridan Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Catherine Sheridan Housing Development Fund Company Inc is a large nonprofit that has been operating for 80 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.2M |
| Total Expenses | $5.9M |
| Surplus / Deficit | +$1.3M |
| Total Assets | $28.2M |
| Total Liabilities | $52.8M |
| Net Assets | $-24,580,526 |
| Operating Margin | 18.0% |
| Debt-to-Asset Ratio | 187.1% |
| Months of Reserves | 57.7 months |
Financial Health Grade: A
In 2023, Catherine Sheridan Housing Development Fund Company Inc reported a surplus of $1.3M with revenue exceeding expenses, holds 57.7 months of operating reserves (strong position), has a debt-to-asset ratio of 187.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Catherine Sheridan Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.9% | +3.1% | +5.6% |
| 2022 | +3.8% | +4.0% | -2.6% |
| 2021 | -1.8% | -86.4% | +0.1% |
| 2020 | +9.4% | +943.4% | +93.9% |
| 2019 | +59.1% | +8.4% | +19.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 1946 |
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 Catherine Sheridan Housing Development Fund Company Inc with a Mission Score of 75 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, Catherine Sheridan Housing Development Fund Company Inc 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 $1.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 187.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is a strong positive for resource allocation directly to the 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.
Red Flags
The following concerns were identified during AI analysis of Catherine Sheridan Housing Development Fund Company Inc's IRS 990 filings:
- Consistent and significant liabilities exceeding assets, raising questions about long-term financial stability and leverage.
- Unexplained expense spike in 2020 ($40,173,849 vs. $6,632,763 revenue) warrants further investigation.
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data limits full spending efficiency assessment.
Strengths
The following positive indicators were identified for Catherine Sheridan Housing Development Fund Company Inc:
- Consistent revenue generation exceeding expenses in most years, indicating operational stability.
- Significant asset growth over the past five years, from $14,119,222 in 2019 to $28,214,452 in 2023.
- Zero reported officer compensation, suggesting efficient use of funds directly for mission-related activities.
Frequently Asked Questions about Catherine Sheridan Housing Development Fund Company Inc
Is Catherine Sheridan Housing Development Fund Company Inc a legitimate charity?
Catherine Sheridan Housing Development Fund Company Inc (EIN: 113636256) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $12.4M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Catherine Sheridan Housing Development Fund Company Inc spend its money?
Catherine Sheridan Housing Development Fund Company Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Catherine Sheridan Housing Development Fund Company Inc tax-deductible?
Catherine Sheridan Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 113636256). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Catherine Sheridan Housing Development Fund Company Inc's spending goes to programs?
Catherine Sheridan Housing Development Fund Company Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Catherine Sheridan Housing Development Fund Company Inc located?
Catherine Sheridan Housing Development Fund Company Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 113636256.
How many years of IRS 990 filings does Catherine Sheridan Housing Development Fund Company Inc have?
Catherine Sheridan 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 $12.4M in total revenue.
What is the nature of the significant liabilities that consistently exceed assets?
The organization consistently reports liabilities significantly higher than its assets (e.g., $52,794,978 liabilities vs. $28,214,452 assets in 2023). Understanding if this is primarily long-term debt for housing development or other obligations is crucial for assessing financial risk.
What caused the substantial expense spike in fiscal year 2020?
In 2020, expenses ($40,173,849) dramatically exceeded revenue ($6,632,763). Identifying the specific nature of these expenses (e.g., major capital project, asset write-down) is important for understanding the organization's financial management.
How does the organization manage its operations without compensated officers?
The consistent 0% officer compensation suggests a volunteer-led board or an arrangement where executive functions are handled by an external entity or other staff not classified as officers. Clarification on this structure would enhance understanding of governance and operational capacity.
Filing History
IRS 990 filing history for Catherine Sheridan Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Catherine Sheridan Housing Development Fund Company Inc's revenue has grown by 106.1%, moving from $3.5M to $7.2M. Total assets increased by 135.3% over the same period, from $12.0M to $28.2M. Total functional expenses rose by 66%, from $3.5M to $5.9M. In its most recent filing year (2023), Catherine Sheridan Housing Development Fund Company Inc reported a surplus of $1.3M, with revenue exceeding expenses. The organization holds $52.8M in liabilities against $28.2M in assets (debt-to-asset ratio: 187.1%), resulting in net assets of $-24,580,526.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.2M | $5.9M | $28.2M | $52.8M | — | View 990 |
| 2022 | $6.8M | $5.7M | $26.7M | $52.4M | — | View 990 |
| 2021 | $6.5M | $5.5M | $27.4M | $53.5M | — | — |
| 2020 | $6.6M | $40.2M | $27.4M | $54.5M | — | — |
| 2019 | $6.1M | $3.9M | $14.1M | $7.7M | — | View 990 |
| 2018 | $3.8M | $3.6M | $11.8M | $7.6M | — | View 990 |
| 2017 | $3.8M | $3.4M | $11.7M | $7.8M | — | View 990 |
| 2016 | $3.7M | $3.2M | $12.0M | $8.5M | — | View 990 |
| 2015 | $3.7M | $3.3M | $11.8M | $8.8M | — | View 990 |
| 2014 | $3.6M | $3.6M | $11.5M | $9.0M | — | View 990 |
| 2013 | $3.7M | $3.5M | $11.7M | $9.1M | — | View 990 |
| 2012 | $3.5M | $3.3M | $11.8M | $9.4M | — | View 990 |
| 2011 | $3.5M | $3.5M | $12.0M | $9.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.2M, expenses of $5.9M, and assets of $28.2M (revenue +5.9% year-over-year).
- 2022: Revenue of $6.8M, expenses of $5.7M, and assets of $26.7M (revenue +3.8% year-over-year).
- 2021: Revenue of $6.5M, expenses of $5.5M, and assets of $27.4M (revenue -1.8% year-over-year).
- 2020: Revenue of $6.6M, expenses of $40.2M, and assets of $27.4M (revenue +9.4% year-over-year).
- 2019: Revenue of $6.1M, expenses of $3.9M, and assets of $14.1M (revenue +59.1% year-over-year).
- 2018: Revenue of $3.8M, expenses of $3.6M, and assets of $11.8M (revenue -0.3% year-over-year).
- 2017: Revenue of $3.8M, expenses of $3.4M, and assets of $11.7M (revenue +1.9% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.2M, and assets of $12.0M (revenue +1.9% year-over-year).
- 2015: Revenue of $3.7M, expenses of $3.3M, and assets of $11.8M (revenue +1.0% year-over-year).
- 2014: Revenue of $3.6M, expenses of $3.6M, and assets of $11.5M (revenue -0.9% year-over-year).
- 2013: Revenue of $3.7M, expenses of $3.5M, and assets of $11.7M (revenue +4.6% year-over-year).
- 2012: Revenue of $3.5M, expenses of $3.3M, and assets of $11.8M (revenue +1.2% year-over-year).
- 2011: Revenue of $3.5M, expenses of $3.5M, and assets of $12.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Catherine Sheridan Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Catherine Sheridan 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.