Council Towers Housing Development Fund Corporation
Council Towers Housing Development Fund Corporation consistently reports no officer compensation but carries significant liabilities relative to assets.
EIN: 133741272 · New York, NY · NTEE: E91Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $2.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $-9,046,808 |
| Transparency Score | 85/100 |
Is Council Towers Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Council Towers Housing Development Fund Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Council Towers Housing Development Fund Corporation
Council Towers Housing Development Fund Corporation (EIN: 133741272) is a nonprofit organization based in New York, NY, classified under NTEE code E91Z. The organization reported total revenue of $2.5M and total assets of $4.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Council Towers Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Council Towers Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $2.2M |
| Surplus / Deficit | +$116K |
| Total Assets | $3.7M |
| Total Liabilities | $12.7M |
| Net Assets | $-9,046,808 |
| Operating Margin | 5.0% |
| Debt-to-Asset Ratio | 347.4% |
| Months of Reserves | 19.8 months |
Financial Health Grade: A
In 2023, Council Towers Housing Development Fund Corporation reported a surplus of $116K with revenue exceeding expenses, holds 19.8 months of operating reserves (strong position), has a debt-to-asset ratio of 347.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Council Towers Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 10.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.7% | +10.7% | +0.9% |
| 2022 | -0.9% | -2.9% | +4.3% |
| 2021 | -2.6% | +7.5% | -2.1% |
| 2020 | +43.4% | +15.5% | +5.4% |
| 2019 | +0.3% | -7.8% | -8.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
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 Council Towers Housing Development Fund Corporation 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, Council Towers Housing Development Fund Corporation 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 $116K, with revenue exceeding expenses.
- Debt-to-asset ratio: 347.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership serves without direct salary from the organization, which is highly unusual for an organization with over $2 million in annual revenue and significant assets.
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 Council Towers Housing Development Fund Corporation's IRS 990 filings:
- Significant liabilities consistently outweigh assets, raising questions about long-term financial structure.
- Occasional periods where expenses exceed revenue, such as in 2022, indicating potential operational deficits.
Strengths
The following positive indicators were identified for Council Towers Housing Development Fund Corporation:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds for mission.
- Increasing revenue trend from $1,317,909 in 2019 to $2,328,969 in 2023, showing growth in operational capacity.
- Focus on housing development (NTEE E91Z) suggests a clear and consistent mission.
Frequently Asked Questions about Council Towers Housing Development Fund Corporation
Is Council Towers Housing Development Fund Corporation a legitimate charity?
Council Towers Housing Development Fund Corporation (EIN: 133741272) 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: $2.5M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Council Towers Housing Development Fund Corporation spend its money?
Council Towers Housing Development Fund Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Council Towers Housing Development Fund Corporation tax-deductible?
Council Towers Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 133741272). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Council Towers Housing Development Fund Corporation CEO make?
Council Towers Housing Development Fund Corporation's highest-compensated officer earns $2 annually. The organization reported $2.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Council Towers Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Council Towers Housing Development Fund Corporation is above average for NTEE category E91Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Council Towers Housing Development Fund Corporation located?
Council Towers Housing Development Fund Corporation is headquartered in New York, New York and files with the IRS under EIN 133741272. It is classified under NTEE code E91Z.
How many years of IRS 990 filings does Council Towers Housing Development Fund Corporation have?
Council Towers Housing Development Fund Corporation 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 $2.5M in total revenue.
What is the nature of the significant liabilities reported by Council Towers Housing Development Fund Corporation?
The filings consistently show liabilities exceeding assets by a large margin (e.g., $12,703,932 liabilities vs. $3,657,124 assets in 2023). Understanding if these are long-term mortgages or other debt related to housing projects is crucial for assessing financial risk.
How does Council Towers Housing Development Fund Corporation sustain operations without officer compensation?
With no officer compensation reported, it suggests a volunteer-led board or that executive functions are handled by an affiliated entity or through other means not reflected in the direct compensation line item, which warrants further inquiry into operational structure.
What is the organization's strategy for managing periods where expenses exceed revenue?
In 2022, expenses ($2,000,132) exceeded revenue ($1,823,709). While not a consistent trend, understanding how the organization covers these deficits and maintains financial stability is important.
Filing History
IRS 990 filing history for Council Towers Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Council Towers Housing Development Fund Corporation's revenue has grown by 226.2%, moving from $714K to $2.3M. Total assets decreased by 46.2% over the same period, from $6.8M to $3.7M. Total functional expenses rose by 63.2%, from $1.4M to $2.2M. In its most recent filing year (2023), Council Towers Housing Development Fund Corporation reported a surplus of $116K, with revenue exceeding expenses. The organization holds $12.7M in liabilities against $3.7M in assets (debt-to-asset ratio: 347.4%), resulting in net assets of $-9,046,808.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.2M | $3.7M | $12.7M | — | — |
| 2022 | $1.8M | $2.0M | $3.6M | $12.8M | — | View 990 |
| 2021 | $1.8M | $2.1M | $3.5M | $12.5M | — | View 990 |
| 2020 | $1.9M | $1.9M | $3.6M | $12.3M | — | View 990 |
| 2019 | $1.3M | $1.7M | $3.4M | $12.1M | — | View 990 |
| 2018 | $1.3M | $1.8M | $3.7M | $12.1M | — | View 990 |
| 2017 | $1.3M | $1.6M | $4.1M | $12.0M | — | — |
| 2016 | $1.3M | $1.6M | $4.5M | $12.2M | — | View 990 |
| 2015 | $1.3M | $1.6M | $5.3M | $12.8M | — | View 990 |
| 2014 | $1.3M | $1.7M | $5.3M | $12.5M | — | View 990 |
| 2013 | $718K | $1.4M | $5.6M | $12.4M | — | View 990 |
| 2012 | $722K | $1.4M | $6.3M | $12.3M | — | View 990 |
| 2011 | $714K | $1.4M | $6.8M | $12.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.2M, and assets of $3.7M (revenue +27.7% year-over-year).
- 2022: Revenue of $1.8M, expenses of $2.0M, and assets of $3.6M (revenue -0.9% year-over-year).
- 2021: Revenue of $1.8M, expenses of $2.1M, and assets of $3.5M (revenue -2.6% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.9M, and assets of $3.6M (revenue +43.4% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.7M, and assets of $3.4M (revenue +0.3% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.8M, and assets of $3.7M (revenue +0.1% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.6M, and assets of $4.1M (revenue +0.6% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.6M, and assets of $4.5M (revenue -0.2% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.6M, and assets of $5.3M (revenue +3.3% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.7M, and assets of $5.3M (revenue +76.2% year-over-year).
- 2013: Revenue of $718K, expenses of $1.4M, and assets of $5.6M (revenue -0.5% year-over-year).
- 2012: Revenue of $722K, expenses of $1.4M, and assets of $6.3M (revenue +1.1% year-over-year).
- 2011: Revenue of $714K, expenses of $1.4M, and assets of $6.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Council Towers Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Council Towers Housing Development Fund 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.