Connecticut Housing And Development Corporation
Connecticut Housing And Development Corporation reports operating deficits in recent years despite substantial asset growth and no officer compensation.
EIN: 141909094 · Hartford, CT · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $1.9M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $26 |
| Net Assets | $26.3M |
| Transparency Score | 80/100 |
Is Connecticut Housing And Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Connecticut Housing And Development Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Connecticut Housing And Development Corporation
Connecticut Housing And Development Corporation (EIN: 141909094) is a nonprofit organization based in Hartford, CT, classified under NTEE code L20. The organization reported total revenue of $1.3M and total assets of $25.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Connecticut Housing And Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Connecticut Housing And Development Corporation is a mid-size nonprofit that has been operating for 21 years, with 4 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 15.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-650,431 |
| Total Assets | $26.6M |
| Total Liabilities | $302K |
| Net Assets | $26.3M |
| Operating Margin | -51.6% |
| Debt-to-Asset Ratio | 1.1% |
| Months of Reserves | 166.8 months |
Financial Health Grade: B
In 2023, Connecticut Housing And Development Corporation reported a deficit of $650K with expenses exceeding revenue, holds 166.8 months of operating reserves (strong position), has a debt-to-asset ratio of 1.1% (very low leverage).
Financial Trends
Over 4 years of filings (2011–2023), Connecticut Housing And Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 15.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -37.3% | -4.5% | -4.7% |
| 2022 | +262.3% | +426.9% | +230782.3% |
| 2012 | +135.0% | +13.5% | -99.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Connecticut Housing And Development Corporation with a Mission Score of 80 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: 85%
- fundraising: 5%
According to IRS 990 filings, Connecticut Housing And Development Corporation 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 deficit of $650K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to officers, which is highly unusual for an organization of this size with over $26 million in assets and $1.2 million in revenue.
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 Connecticut Housing And Development Corporation's IRS 990 filings:
- Consistent operating deficits in recent years (2023 and 2022), where expenses exceeded revenue.
- Unusually low liabilities relative to assets in some periods (e.g., $0 in 2012), which might warrant further investigation into financial structure.
Strengths
The following positive indicators were identified for Connecticut Housing And Development Corporation:
- Substantial and growing asset base, reaching $26,566,949 in 2023, indicating strong financial capacity.
- Consistent reporting of 0% officer compensation, suggesting a focus on minimizing administrative costs in this area.
- Significant growth in assets and revenue over the past decade, demonstrating expansion and impact.
Frequently Asked Questions about Connecticut Housing And Development Corporation
Is Connecticut Housing And Development Corporation a legitimate charity?
Connecticut Housing And Development Corporation (EIN: 141909094) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 80/100. It has 4 years of IRS 990 filings on record. Total revenue: $1.3M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Connecticut Housing And Development Corporation spend its money?
Connecticut Housing And Development Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Connecticut Housing And Development Corporation tax-deductible?
Connecticut Housing And Development Corporation is registered as a tax-exempt nonprofit (EIN: 141909094). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Connecticut Housing And Development Corporation CEO make?
Connecticut Housing And Development Corporation's highest-compensated officer earns $26 annually. The organization reported $1.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Connecticut Housing And Development Corporation's spending goes to programs?
Connecticut Housing And Development Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Connecticut Housing And Development Corporation compare to similar nonprofits?
With a transparency score of 80/100 (Excellent), Connecticut Housing And Development Corporation is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Connecticut Housing And Development Corporation located?
Connecticut Housing And Development Corporation is headquartered in Hartford, Connecticut and files with the IRS under EIN 141909094. It is classified under NTEE code L20.
How many years of IRS 990 filings does Connecticut Housing And Development Corporation have?
Connecticut Housing And Development Corporation has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $1.3M in total revenue.
Is Connecticut Housing And Development Corporation financially stable?
While the organization has reported operating deficits in its two most recent filings (2023 and 2022), its substantial assets of $26,566,949 in 2023 provide a strong buffer, suggesting long-term stability despite short-term operational challenges.
How has the organization's financial size changed over time?
The organization has experienced significant growth, with assets increasing from $1,604,712 in 2011 to $26,566,949 in 2023, and revenue growing from $236,073 in 2011 to over $1.2 million in 2023.
What is the organization's approach to executive compensation?
All available IRS 990 filings consistently report 0% officer compensation, indicating that no compensation is paid to officers, which is a notable practice for an organization of this scale.
Filing History
IRS 990 filing history for Connecticut Housing And Development Corporation showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2023), Connecticut Housing And Development Corporation's revenue has grown by 434.1%, moving from $236K to $1.3M. Total assets increased by 1555.6% over the same period, from $1.6M to $26.6M. Total functional expenses rose by 471%, from $335K to $1.9M. In its most recent filing year (2023), Connecticut Housing And Development Corporation reported a deficit of $650K, with expenses exceeding revenue. The organization holds $302K in liabilities against $26.6M in assets (debt-to-asset ratio: 1.1%), resulting in net assets of $26.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.9M | $26.6M | $302K | — | — |
| 2022 | $2.0M | $2.0M | $27.9M | $807K | — | View 990 |
| 2012 | $555K | $380K | $12K | $0 | — | View 990 |
| 2011 | $236K | $335K | $1.6M | $1.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.9M, and assets of $26.6M (revenue -37.3% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.0M, and assets of $27.9M (revenue +262.3% year-over-year).
- 2012: Revenue of $555K, expenses of $380K, and assets of $12K (revenue +135.0% year-over-year).
- 2011: Revenue of $236K, expenses of $335K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Connecticut Housing And Development Corporation:
Data Sources and Methodology
This transparency report for Connecticut Housing And Development Corporation 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.