Concord Nursing Home Inc
Concord Nursing Home Inc. shows revenue growth and asset accumulation but carries significant liabilities.
EIN: 112290533 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $22.8M |
| Total Expenses | $18.7M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $20 |
| Net Assets | $-2,903,615 |
| Transparency Score | 70/100 |
Is Concord Nursing Home Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Concord Nursing Home Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Concord Nursing Home Inc
Concord Nursing Home Inc (EIN: 112290533) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $22.8M and total assets of $27.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Concord Nursing Home Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Concord Nursing Home Inc is a large nonprofit that has been operating for 55 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $21.0M |
| Total Expenses | $18.7M |
| Surplus / Deficit | +$2.3M |
| Total Assets | $24.0M |
| Total Liabilities | $27.0M |
| Net Assets | $-2,903,615 |
| Operating Margin | 11.0% |
| Debt-to-Asset Ratio | 112.1% |
| Months of Reserves | 15.4 months |
Financial Health Grade: A
In 2023, Concord Nursing Home Inc reported a surplus of $2.3M with revenue exceeding expenses, holds 15.4 months of operating reserves (strong position), has a debt-to-asset ratio of 112.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Concord Nursing Home Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -9.9% | -8.4% | +16.7% |
| 2022 | +10.3% | +21.2% | +13.1% |
| 2021 | -2.3% | -2.7% | +51.8% |
| 2020 | +11.6% | -4.3% | +20.7% |
| 2019 | +33.8% | +9.5% | +18.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1971 |
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 Concord Nursing Home 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, Concord Nursing Home 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 $2.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 112.1%.
Executive Compensation Analysis
The reported 0% officer compensation across all filings is highly unusual for an organization with over $20 million in annual revenue and suggests that executive compensation may be reported under other expense categories or that the organization relies heavily on volunteer leadership, which would be exceptional for its scale.
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 Concord Nursing Home Inc's IRS 990 filings:
- Persistent high liabilities exceeding assets across all reported periods
- 0% reported officer compensation, which is unusual for an organization of this size and could indicate incomplete reporting or alternative compensation structures.
Strengths
The following positive indicators were identified for Concord Nursing Home Inc:
- Consistent revenue generation exceeding expenses in recent years (e.g., $2,319,161 net income in 2023).
- Significant growth in assets, nearly doubling from $12,004,414 in 2020 to $24,048,744 in 2023.
- Stable operational history with 13 filings, indicating long-term presence.
Frequently Asked Questions about Concord Nursing Home Inc
Is Concord Nursing Home Inc a legitimate charity?
Concord Nursing Home Inc (EIN: 112290533) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $22.8M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Concord Nursing Home Inc spend its money?
Concord Nursing Home Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Concord Nursing Home Inc tax-deductible?
Concord Nursing Home Inc is registered as a tax-exempt nonprofit (EIN: 112290533). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Concord Nursing Home Inc CEO make?
Concord Nursing Home Inc's highest-compensated officer earns $20 annually. The organization reported $22.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Concord Nursing Home Inc's spending goes to programs?
Concord Nursing Home Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Concord Nursing Home Inc located?
Concord Nursing Home Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 112290533.
How many years of IRS 990 filings does Concord Nursing Home Inc have?
Concord Nursing Home 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 $22.8M in total revenue.
Is Concord Nursing Home Inc. financially stable given its high liabilities?
While the organization has consistently reported revenues exceeding expenses in recent years, leading to positive net income, its liabilities have consistently outstripped its assets. For instance, in 2023, liabilities were $26,952,359 compared to assets of $24,048,744. This indicates a significant reliance on debt or other long-term obligations, which could pose a risk if revenue streams were to decline.
How does Concord Nursing Home Inc. compensate its leadership if officer compensation is 0%?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this size. It suggests that key leadership may be compensated through a related entity, as contractors, or that the individuals serving as officers are uncompensated volunteers. Further investigation into the detailed expense schedules would be needed to understand how leadership is compensated.
What is the trend in the organization's assets and liabilities?
Assets have shown strong growth, nearly doubling from $12,004,414 in 2020 to $24,048,744 in 2023. However, liabilities have remained consistently high, ranging from $24,426,333 in 2020 to $26,952,359 in 2023, always exceeding total assets.
Filing History
IRS 990 filing history for Concord Nursing Home Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Concord Nursing Home Inc's revenue has grown by 44%, moving from $14.6M to $21.0M. Total assets increased by 48.7% over the same period, from $16.2M to $24.0M. Total functional expenses rose by 11%, from $16.9M to $18.7M. In its most recent filing year (2023), Concord Nursing Home Inc reported a surplus of $2.3M, with revenue exceeding expenses. The organization holds $27.0M in liabilities against $24.0M in assets (debt-to-asset ratio: 112.1%), resulting in net assets of $-2,903,615.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $21.0M | $18.7M | $24.0M | $27.0M | — | — |
| 2022 | $23.3M | $20.4M | $20.6M | $25.8M | — | View 990 |
| 2021 | $21.2M | $16.9M | $18.2M | $26.4M | — | View 990 |
| 2020 | $21.7M | $17.3M | $12.0M | $24.4M | — | View 990 |
| 2019 | $19.4M | $18.1M | $9.9M | $26.7M | — | View 990 |
| 2018 | $14.5M | $16.5M | $8.4M | $26.4M | — | View 990 |
| 2017 | $15.4M | $16.3M | $10.2M | $26.2M | — | View 990 |
| 2016 | $13.6M | $16.7M | $10.8M | $25.8M | — | View 990 |
| 2015 | $14.7M | $15.1M | $13.9M | $25.9M | — | View 990 |
| 2014 | $13.5M | $15.5M | $14.7M | $26.2M | — | View 990 |
| 2013 | $15.0M | $16.1M | $18.5M | $28.0M | — | View 990 |
| 2012 | $16.4M | $16.4M | $18.0M | $26.4M | — | View 990 |
| 2011 | $14.6M | $16.9M | $16.2M | $24.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21.0M, expenses of $18.7M, and assets of $24.0M (revenue -9.9% year-over-year).
- 2022: Revenue of $23.3M, expenses of $20.4M, and assets of $20.6M (revenue +10.3% year-over-year).
- 2021: Revenue of $21.2M, expenses of $16.9M, and assets of $18.2M (revenue -2.3% year-over-year).
- 2020: Revenue of $21.7M, expenses of $17.3M, and assets of $12.0M (revenue +11.6% year-over-year).
- 2019: Revenue of $19.4M, expenses of $18.1M, and assets of $9.9M (revenue +33.8% year-over-year).
- 2018: Revenue of $14.5M, expenses of $16.5M, and assets of $8.4M (revenue -5.6% year-over-year).
- 2017: Revenue of $15.4M, expenses of $16.3M, and assets of $10.2M (revenue +12.6% year-over-year).
- 2016: Revenue of $13.6M, expenses of $16.7M, and assets of $10.8M (revenue -7.0% year-over-year).
- 2015: Revenue of $14.7M, expenses of $15.1M, and assets of $13.9M (revenue +8.5% year-over-year).
- 2014: Revenue of $13.5M, expenses of $15.5M, and assets of $14.7M (revenue -9.9% year-over-year).
- 2013: Revenue of $15.0M, expenses of $16.1M, and assets of $18.5M (revenue -8.5% year-over-year).
- 2012: Revenue of $16.4M, expenses of $16.4M, and assets of $18.0M (revenue +12.3% year-over-year).
- 2011: Revenue of $14.6M, expenses of $16.9M, and assets of $16.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Concord Nursing Home Inc:
Data Sources and Methodology
This transparency report for Concord Nursing Home 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.