Clarkstown Middlewood Housing Development Fund Company Inc
Clarkstown Middlewood Housing Development Fund Company Inc. reports significant deficits and high liabilities in recent years.
EIN: 132809873 · Suffern, NY · NTEE: J40I · Updated: 2026-03-28
About Clarkstown Middlewood Housing Development Fund Company Inc
Clarkstown Middlewood Housing Development Fund Company Inc (EIN: 132809873) is a nonprofit organization based in Suffern, NY, classified under NTEE code J40I. The organization reported total revenue of $2.4M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Clarkstown Middlewood Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Clarkstown Middlewood Housing Development Fund Company Inc 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, Clarkstown Middlewood 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.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a positive sign for resource allocation.
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 Clarkstown Middlewood Housing Development Fund Company Inc's IRS 990 filings:
- Significant and consistent operational deficits in 2022 and 2023 (e.g., 2023 expenses $7.58M vs. revenue $2.44M).
- High liabilities relative to assets ($16.9M liabilities vs. $8.2M assets in 2023).
- Dramatic increase in expenses and liabilities between 2021 and 2022 without clear explanation in the provided data.
Strengths
The following positive indicators were identified for Clarkstown Middlewood Housing Development Fund Company Inc:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds at the executive level.
- Long filing history (13 filings) suggests consistent operation and compliance with IRS reporting requirements.
Frequently Asked Questions about Clarkstown Middlewood Housing Development Fund Company Inc
Is Clarkstown Middlewood Housing Development Fund Company Inc. financially stable?
Based on the 2023 and 2022 filings, the organization is not financially stable, with expenses significantly exceeding revenue and liabilities far surpassing assets. For example, in 2023, liabilities were $16,905,715 while assets were $8,228,452.
What caused the dramatic increase in expenses and liabilities from 2021 to 2022?
The filings show a jump in expenses from $1,176,662 in 2021 to $6,297,393 in 2022, and liabilities from $126,580 to $17,662,122. This significant change suggests a major project, acquisition, or debt restructuring that is not detailed in the provided summary.
How does the organization cover its operational deficits?
With expenses of $7,584,473 in 2023 against revenues of $2,446,061, the organization is operating at a substantial deficit. The source of funding to cover this gap, whether through grants, loans, or asset liquidation, is not clear from the provided data.
Filing History
IRS 990 filing history for Clarkstown Middlewood Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Clarkstown Middlewood Housing Development Fund Company Inc's revenue has grown by 129.1%, moving from $1.1M to $2.4M. Total assets increased by 538.3% over the same period, from $1.3M to $8.2M. Total functional expenses rose by 813%, from $831K to $7.6M. In its most recent filing year (2023), Clarkstown Middlewood Housing Development Fund Company Inc reported a deficit of $5.1M, with expenses exceeding revenue. The organization holds $16.9M in liabilities against $8.2M in assets (debt-to-asset ratio: 205.5%), resulting in net assets of $-8,677,263.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $7.6M | $8.2M | $16.9M | — | — |
| 2022 | $1.9M | $6.3M | $14.6M | $17.7M | — | View 990 |
| 2021 | $1.1M | $1.2M | $1.4M | $127K | — | View 990 |
| 2020 | $1.2M | $1.1M | $1.5M | $124K | — | View 990 |
| 2019 | $1.1M | $1.0M | $1.4M | $120K | — | View 990 |
| 2018 | $1.1M | $970K | $1.4M | $114K | — | View 990 |
| 2017 | $1.0M | $842K | $1.2M | $100K | — | View 990 |
| 2016 | $1.0M | $925K | $1.2M | $230K | — | View 990 |
| 2015 | $1.0M | $859K | $1.1M | $292K | — | View 990 |
| 2014 | $1.1M | $925K | $1.2M | $543K | — | View 990 |
| 2013 | $1.1M | $905K | $1.6M | $1.1M | — | View 990 |
| 2012 | $1.1M | $808K | $1.5M | $1.2M | — | View 990 |
| 2011 | $1.1M | $831K | $1.3M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $7.6M, and assets of $8.2M (revenue +25.8% year-over-year).
- 2022: Revenue of $1.9M, expenses of $6.3M, and assets of $14.6M (revenue +70.3% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.2M, and assets of $1.4M (revenue -1.6% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.1M, and assets of $1.5M (revenue +5.2% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.0M, and assets of $1.4M (revenue +2.6% year-over-year).
- 2018: Revenue of $1.1M, expenses of $970K, and assets of $1.4M (revenue +3.2% year-over-year).
- 2017: Revenue of $1.0M, expenses of $842K, and assets of $1.2M (revenue +1.9% year-over-year).
- 2016: Revenue of $1.0M, expenses of $925K, and assets of $1.2M (revenue -0.7% year-over-year).
- 2015: Revenue of $1.0M, expenses of $859K, and assets of $1.1M (revenue -5.2% year-over-year).
- 2014: Revenue of $1.1M, expenses of $925K, and assets of $1.2M (revenue -1.7% year-over-year).
- 2013: Revenue of $1.1M, expenses of $905K, and assets of $1.6M (revenue +1.2% year-over-year).
- 2012: Revenue of $1.1M, expenses of $808K, and assets of $1.5M (revenue +2.2% year-over-year).
- 2011: Revenue of $1.1M, expenses of $831K, and assets of $1.3M.
Data Sources and Methodology
This transparency report for Clarkstown Middlewood 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.