Concorse Gardens Housing Development Fund Company Inc
Concorse Gardens Housing Development Fund Company Inc. maintains consistent operations with zero executive compensation amidst significant liabilities.
EIN: 133696061 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $1.8M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $-4,356,194 |
| Transparency Score | 85/100 |
Is Concorse Gardens 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 →
Concorse Gardens Housing Development Fund Company Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Concorse Gardens Housing Development Fund Company Inc
Concorse Gardens Housing Development Fund Company Inc (EIN: 133696061) is a nonprofit organization based in New York, NY. The organization reported total revenue of $2.0M and total assets of $6.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Concorse Gardens Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Concorse Gardens Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $1.8M |
| Surplus / Deficit | +$201K |
| Total Assets | $6.3M |
| Total Liabilities | $10.7M |
| Net Assets | $-4,356,194 |
| Operating Margin | 10.0% |
| Debt-to-Asset Ratio | 168.7% |
| Months of Reserves | 42.2 months |
Financial Health Grade: A
In 2023, Concorse Gardens Housing Development Fund Company Inc reported a surplus of $201K with revenue exceeding expenses, holds 42.2 months of operating reserves (strong position), has a debt-to-asset ratio of 168.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Concorse Gardens Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +31.2% | +7.7% | +6.2% |
| 2022 | -20.2% | +1.0% | -2.5% |
| 2021 | +10.5% | +0.4% | +2.4% |
| 2020 | +51.1% | +9.6% | +5.7% |
| 2019 | -1.5% | +5.9% | -6.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Concorse Gardens Housing Development Fund Company Inc with a Mission Score of 85 out of 100 (Excellent). 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: 90%
- fundraising: 0%
According to IRS 990 filings, Concorse Gardens Housing Development Fund Company Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $201K, with revenue exceeding expenses.
- Debt-to-asset ratio: 168.7%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization. This is highly unusual for an organization with revenues exceeding $1 million and suggests either a volunteer-led executive team or compensation being covered by a related entity, which would warrant further investigation for complete transparency.
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 Concorse Gardens Housing Development Fund Company Inc's IRS 990 filings:
- Consistent and significant excess of liabilities over assets (e.g., $10.7M liabilities vs. $6.3M assets in 2023), which could indicate high debt burden.
- Zero officer compensation reported across all filings, which is unusual for an organization of this size and could indicate hidden compensation or reliance on external support for leadership.
Strengths
The following positive indicators were identified for Concorse Gardens Housing Development Fund Company Inc:
- Consistent revenue growth, from $905,475 in 2014 to $2,006,659 in 2023, indicating financial stability and increasing capacity.
- Zero reported officer compensation, suggesting a highly efficient use of funds for program delivery and strong financial transparency in this specific area.
- Stable asset base over the past decade, generally ranging between $5.6 million and $6.9 million, indicating consistent property holdings.
Frequently Asked Questions about Concorse Gardens Housing Development Fund Company Inc
Is Concorse Gardens Housing Development Fund Company Inc a legitimate charity?
Concorse Gardens Housing Development Fund Company Inc (EIN: 133696061) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.0M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Concorse Gardens Housing Development Fund Company Inc spend its money?
Concorse Gardens Housing Development Fund Company Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Concorse Gardens Housing Development Fund Company Inc tax-deductible?
Concorse Gardens Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133696061). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Concorse Gardens Housing Development Fund Company Inc CEO make?
Concorse Gardens Housing Development Fund Company Inc's highest-compensated officer earns $1 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Concorse Gardens Housing Development Fund Company Inc located?
Concorse Gardens Housing Development Fund Company Inc is headquartered in New York, New York and files with the IRS under EIN 133696061.
How many years of IRS 990 filings does Concorse Gardens Housing Development Fund Company Inc have?
Concorse Gardens 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 $2.0M in total revenue.
Is Concorse Gardens Housing Development Fund Company Inc. a good charity?
Based on the available IRS 990 data, the organization demonstrates strong financial transparency by reporting zero officer compensation and consistent revenue generation. Its mission focus on housing development, combined with lean executive costs, suggests a commitment to its purpose. However, the consistent and significant excess of liabilities over assets (e.g., $10.7M liabilities vs. $6.3M assets in 2023) is a financial characteristic that would typically warrant deeper scrutiny, though it may be typical for housing development funds.
Why are liabilities consistently higher than assets?
For a housing development fund, it is common for liabilities to exceed assets due to long-term debt, such as mortgages, used to finance the acquisition, construction, or rehabilitation of properties. These properties are often held for charitable purposes (e.g., affordable housing) rather than for immediate liquidation, and the debt represents the financing structure of these assets. For example, in 2023, liabilities were $10,700,369 while assets were $6,344,175.
How does the organization sustain itself without officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that either the executive leadership is entirely volunteer-based, or their compensation is covered by a related entity or through other means not reported on the 990 as direct officer compensation. This practice, while seemingly efficient, can sometimes obscure the true cost of leadership and warrants further inquiry into the organizational structure.
Filing History
IRS 990 filing history for Concorse Gardens Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Concorse Gardens Housing Development Fund Company Inc's revenue has grown by 136.5%, moving from $849K to $2.0M. Total assets decreased by 17.9% over the same period, from $7.7M to $6.3M. Total functional expenses rose by 57.6%, from $1.1M to $1.8M. In its most recent filing year (2023), Concorse Gardens Housing Development Fund Company Inc reported a surplus of $201K, with revenue exceeding expenses. The organization holds $10.7M in liabilities against $6.3M in assets (debt-to-asset ratio: 168.7%), resulting in net assets of $-4,356,194.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.0M | $1.8M | $6.3M | $10.7M | — | — |
| 2022 | $1.5M | $1.7M | $6.0M | $10.5M | — | View 990 |
| 2021 | $1.9M | $1.7M | $6.1M | $10.5M | — | View 990 |
| 2020 | $1.7M | $1.7M | $6.0M | $10.6M | — | View 990 |
| 2019 | $1.1M | $1.5M | $5.7M | $10.4M | — | View 990 |
| 2018 | $1.2M | $1.4M | $6.0M | $10.4M | — | View 990 |
| 2017 | $1.1M | $1.3M | $6.3M | $10.4M | — | View 990 |
| 2016 | $1.1M | $1.3M | $6.5M | $10.4M | — | View 990 |
| 2015 | $1.0M | $1.3M | $6.7M | $10.4M | — | View 990 |
| 2014 | $905K | $1.2M | $6.9M | $10.3M | — | View 990 |
| 2013 | $903K | $1.1M | $7.2M | $10.3M | — | View 990 |
| 2012 | $1.0M | $1.2M | $7.6M | $10.4M | — | View 990 |
| 2011 | $849K | $1.1M | $7.7M | $10.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.0M, expenses of $1.8M, and assets of $6.3M (revenue +31.2% year-over-year).
- 2022: Revenue of $1.5M, expenses of $1.7M, and assets of $6.0M (revenue -20.2% year-over-year).
- 2021: Revenue of $1.9M, expenses of $1.7M, and assets of $6.1M (revenue +10.5% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.7M, and assets of $6.0M (revenue +51.1% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.5M, and assets of $5.7M (revenue -1.5% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.4M, and assets of $6.0M (revenue +3.9% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.3M, and assets of $6.3M (revenue +4.7% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.3M, and assets of $6.5M (revenue +4.0% year-over-year).
- 2015: Revenue of $1.0M, expenses of $1.3M, and assets of $6.7M (revenue +13.8% year-over-year).
- 2014: Revenue of $905K, expenses of $1.2M, and assets of $6.9M (revenue +0.2% year-over-year).
- 2013: Revenue of $903K, expenses of $1.1M, and assets of $7.2M (revenue -12.5% year-over-year).
- 2012: Revenue of $1.0M, expenses of $1.2M, and assets of $7.6M (revenue +21.6% year-over-year).
- 2011: Revenue of $849K, expenses of $1.1M, and assets of $7.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Concorse Gardens Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Concorse Gardens 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.