Corning Senior Apartments

Corning Senior Apartments consistently operates at a deficit, drawing down assets despite no reported officer compensation.

EIN: 200740891 · Osceola, AR · NTEE: L22 · Updated: 2026-03-28

$80KRevenue

$543KAssets

70/100Mission Score (Good)

L22

About Corning Senior Apartments

Corning Senior Apartments (EIN: 200740891) is a nonprofit organization based in Osceola, AR, classified under NTEE code L22. The organization reported total revenue of $80K and total assets of $543K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corning Senior Apartments's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Corning Senior Apartments, operating in Osceola, AR, appears to be a small nonprofit focused on providing housing, as indicated by its NTEE code L22. The organization consistently reports modest revenues, with the latest filing showing $80,342. A notable trend is that expenses have frequently exceeded revenue, leading to a net deficit in most recent years. For example, in 2024, expenses were $96,167 against $80,342 in revenue, and similar patterns are observed in 2023 ($80,153 expenses vs. $74,416 revenue) and 2022 ($91,909 expenses vs. $73,191 revenue). This consistent operational deficit suggests the organization may be drawing down on its assets or relying on prior period surpluses to cover costs.

Despite the operational deficits, the organization maintains a healthy asset base relative to its liabilities. In 2024, assets stood at $542,531 against liabilities of $6,259, indicating strong financial solvency. The absence of officer compensation reported across all filings suggests a volunteer-led or very lean administrative structure, which is a positive indicator for program focus. However, the consistent decline in total assets over the years, from $676,057 in 2015 to $542,531 in 2024, warrants attention as it aligns with the ongoing operational deficits. This trend, if continued, could impact long-term sustainability.

Given the nature of providing senior housing, a significant portion of expenses would likely be directly related to property maintenance, utilities, and resident services. The lack of reported officer compensation points to good transparency regarding executive pay. However, without a detailed breakdown of expenses beyond the top-line figures, it's challenging to fully assess spending efficiency between program, administrative, and fundraising costs. The consistent operational deficits, while not immediately critical due to strong assets, are a financial trend that merits monitoring.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Corning Senior Apartments 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, Corning Senior Apartments 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating a volunteer-led board or extremely minimal executive pay, which is highly favorable for a nonprofit of this size.

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 Corning Senior Apartments's IRS 990 filings:

Consistent operational deficits (expenses exceeding revenue) in most recent periods, e.g., $96,167 expenses vs. $80,342 revenue in 2024.
Declining total assets over time, from $676,057 in 2015 to $542,531 in 2024, indicating a draw-down on reserves.

Strengths

The following positive indicators were identified for Corning Senior Apartments:

No reported officer compensation across all filings, indicating a volunteer-driven leadership and efficient use of funds.
Strong asset base relative to liabilities ($542,531 assets vs. $6,259 liabilities in 2024), demonstrating financial solvency.
Clear focus on its mission (senior housing) as suggested by the NTEE code and the likely nature of its expenses.

Frequently Asked Questions about Corning Senior Apartments

How does Corning Senior Apartments cover its consistent operational deficits?

The organization appears to cover its operational deficits by drawing down on its accumulated assets, as evidenced by the decline in total assets from $676,057 in 2015 to $542,531 in 2024, while expenses frequently exceed revenue.

What is the long-term sustainability outlook given the declining asset base?

The long-term sustainability could be challenged if the trend of operational deficits and declining assets continues without new revenue streams or cost efficiencies. While current assets are strong relative to liabilities, a sustained draw-down is not sustainable indefinitely.

Are there any plans to increase revenue or reduce expenses to achieve financial equilibrium?

The provided IRS 990 data does not detail specific plans for revenue generation or expense reduction. However, the consistent deficits suggest that such strategies would be beneficial for the organization's financial health.

Filing History

IRS 990 filing history for Corning Senior Apartments showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Corning Senior Apartments's revenue has grown by 82%, moving from $44K to $80K. Total assets decreased by 24.4% over the same period, from $718K to $543K. Total functional expenses rose by 57.3%, from $61K to $96K. In its most recent filing year (2024), Corning Senior Apartments reported a deficit of $16K, with expenses exceeding revenue. The organization holds $6K in liabilities against $543K in assets (debt-to-asset ratio: 1.2%), resulting in net assets of $536K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$80K	$96K	$543K	$6K	—	—
2023	$74K	$80K	$559K	$7K	—	View 990
2022	$73K	$92K	$564K	$6K	—	View 990
2021	$67K	$80K	$583K	$6K	—	—
2020	$62K	$74K	$597K	$6K	—	View 990
2019	$69K	$83K	$613K	$11K	—	View 990
2018	$61K	$76K	$622K	$6K	—	View 990
2017	$51K	$76K	$636K	$5K	—	View 990
2016	$58K	$71K	$665K	$7K	—	View 990
2015	$58K	$65K	$676K	$6K	—	View 990
2014	$53K	$68K	$684K	$7K	—	View 990
2013	$54K	$65K	$699K	$7K	—	View 990
2012	$51K	$60K	$709K	$7K	—	View 990
2011	$44K	$61K	$718K	$5K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $80K, expenses of $96K, and assets of $543K (revenue +8.0% year-over-year).
2023: Revenue of $74K, expenses of $80K, and assets of $559K (revenue +1.7% year-over-year).
2022: Revenue of $73K, expenses of $92K, and assets of $564K (revenue +10.0% year-over-year).
2021: Revenue of $67K, expenses of $80K, and assets of $583K (revenue +6.8% year-over-year).
2020: Revenue of $62K, expenses of $74K, and assets of $597K (revenue -9.6% year-over-year).
2019: Revenue of $69K, expenses of $83K, and assets of $613K (revenue +12.4% year-over-year).
2018: Revenue of $61K, expenses of $76K, and assets of $622K (revenue +21.4% year-over-year).
2017: Revenue of $51K, expenses of $76K, and assets of $636K (revenue -13.4% year-over-year).
2016: Revenue of $58K, expenses of $71K, and assets of $665K (revenue +0.7% year-over-year).
2015: Revenue of $58K, expenses of $65K, and assets of $676K (revenue +10.2% year-over-year).
2014: Revenue of $53K, expenses of $68K, and assets of $684K (revenue -3.2% year-over-year).
2013: Revenue of $54K, expenses of $65K, and assets of $699K (revenue +6.6% year-over-year).
2012: Revenue of $51K, expenses of $60K, and assets of $709K (revenue +15.2% year-over-year).
2011: Revenue of $44K, expenses of $61K, and assets of $718K.

Data Sources and Methodology

This transparency report for Corning Senior Apartments 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.