Council Towers Ii Housing Development Fund Corporation

Council Towers II Housing Development Fund Corporation maintains stable operations with growing assets but significant liabilities.

EIN: 133751223 · Suffern, NY · NTEE: E91 · Updated: 2026-03-28

$2.7MRevenue

$4.9MAssets

85/100Mission Score (Excellent)

E91

About Council Towers Ii Housing Development Fund Corporation

Council Towers Ii Housing Development Fund Corporation (EIN: 133751223) is a nonprofit organization based in Suffern, NY, classified under NTEE code E91. The organization reported total revenue of $2.7M and total assets of $4.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Council Towers Ii Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Council Towers Ii Housing Development Fund Corporation demonstrates consistent financial activity, with revenues generally exceeding expenses in recent years, such as in 2023 where revenue was $2,406,931 against expenses of $2,311,479. The organization's assets have shown growth, reaching $5,001,456 in 2023, though they are significantly outweighed by substantial liabilities, which stood at $14,106,866 in the same year. This indicates a highly leveraged financial structure, common for housing development funds that often carry large mortgages or construction loans.

The organization's spending efficiency appears to be focused on its program services, given the nature of a housing development fund. Without a detailed breakdown of expenses into program, administrative, and fundraising categories from the provided data, a precise efficiency ratio cannot be calculated. However, the consistent operation and positive net income in the latest filing suggest effective management of its core activities. The absence of reported officer compensation across all filings indicates a lean overhead in terms of executive salaries, which is a positive sign for donor confidence.

Transparency is generally good, with 13 years of consistent IRS 990 filings available. The zero officer compensation reported across all periods is a notable aspect of its financial transparency, indicating that executive leadership may be voluntary or compensated through other means not classified as officer compensation on the 990, or that the organization operates with a very flat structure. Further detail on the allocation of expenses would enhance the understanding of its operational efficiency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Council Towers Ii 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: 8%
programs: 90%
fundraising: 2%

According to IRS 990 filings, Council Towers Ii Housing Development Fund Corporation allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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, suggesting either a volunteer-led executive team or compensation structured in a way not reported as officer compensation on the 990. This indicates a very low overhead in terms of executive salaries relative to its multi-million dollar revenue and asset base.

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 Ii Housing Development Fund Corporation's IRS 990 filings:

High liabilities relative to assets, indicating a highly leveraged financial structure.

Strengths

The following positive indicators were identified for Council Towers Ii Housing Development Fund Corporation:

Consistent filing history, demonstrating transparency.
Zero reported officer compensation, indicating efficient use of funds for executive salaries.
Positive net income in the latest filing (2023), showing financial stability.
Growing assets over recent periods, suggesting expansion or asset appreciation.

Frequently Asked Questions about Council Towers Ii Housing Development Fund Corporation

How does Council Towers Ii Housing Development Fund Corporation manage its substantial liabilities?

The organization consistently carries significant liabilities, reaching $14,106,866 in 2023, which is common for housing development funds that often finance projects through debt. The consistent operation and positive net income in recent years suggest these liabilities are managed within its operational model, likely through rental income or other program-related revenues.

What is the primary source of revenue for the organization?

While not explicitly detailed in the provided data, for a housing development fund corporation, the primary sources of revenue are typically rental income from properties, government subsidies, or grants related to housing programs. The consistent revenue streams over the years, such as $2,406,931 in 2023, support its ongoing operations.

Does the organization have a healthy financial reserve?

The organization's assets have grown to $5,001,456 in 2023, but its liabilities are significantly higher at $14,106,866. While assets are increasing, the high debt-to-asset ratio suggests that most assets are likely tied up in property and not readily available as liquid reserves. A detailed balance sheet would be needed to assess liquid reserves.

Filing History

IRS 990 filing history for Council Towers Ii Housing Development Fund Corporation showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Council Towers Ii Housing Development Fund Corporation's revenue has grown by 221.3%, moving from $749K to $2.4M. Total assets decreased by 36.2% over the same period, from $7.8M to $5.0M. Total functional expenses rose by 62.9%, from $1.4M to $2.3M. In its most recent filing year (2023), Council Towers Ii Housing Development Fund Corporation reported a surplus of $95K, with revenue exceeding expenses. The organization holds $14.1M in liabilities against $5.0M in assets (debt-to-asset ratio: 282.1%), resulting in net assets of $-9,105,410.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.4M	$2.3M	$5.0M	$14.1M	—	—
2022	$2.1M	$2.3M	$4.5M	$13.7M	—	View 990
2021	$2.2M	$2.4M	$4.3M	$13.3M	—	View 990
2020	$2.3M	$2.4M	$4.2M	$13.0M	—	View 990
2019	$1.5M	$1.8M	$4.1M	$12.8M	—	View 990
2018	$1.2M	$1.7M	$4.3M	$12.6M	—	View 990
2017	$1.1M	$1.6M	$4.8M	$12.6M	—	—
2016	$1.1M	$1.6M	$5.2M	$12.6M	—	View 990
2015	$1.1M	$1.6M	$5.8M	$12.7M	—	View 990
2014	$1.1M	$1.6M	$6.1M	$12.5M	—	View 990
2013	$765K	$1.4M	$6.7M	$12.6M	—	View 990
2012	$757K	$1.4M	$7.3M	$12.6M	—	View 990
2011	$749K	$1.4M	$7.8M	$12.5M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.4M, expenses of $2.3M, and assets of $5.0M (revenue +15.2% year-over-year).
2022: Revenue of $2.1M, expenses of $2.3M, and assets of $4.5M (revenue -5.6% year-over-year).
2021: Revenue of $2.2M, expenses of $2.4M, and assets of $4.3M (revenue -3.6% year-over-year).
2020: Revenue of $2.3M, expenses of $2.4M, and assets of $4.2M (revenue +56.4% year-over-year).
2019: Revenue of $1.5M, expenses of $1.8M, and assets of $4.1M (revenue +20.0% year-over-year).
2018: Revenue of $1.2M, expenses of $1.7M, and assets of $4.3M (revenue +7.7% year-over-year).
2017: Revenue of $1.1M, expenses of $1.6M, and assets of $4.8M (revenue +3.5% year-over-year).
2016: Revenue of $1.1M, expenses of $1.6M, and assets of $5.2M (revenue -1.2% year-over-year).
2015: Revenue of $1.1M, expenses of $1.6M, and assets of $5.8M (revenue +-0.0% year-over-year).
2014: Revenue of $1.1M, expenses of $1.6M, and assets of $6.1M (revenue +45.2% year-over-year).
2013: Revenue of $765K, expenses of $1.4M, and assets of $6.7M (revenue +1.0% year-over-year).
2012: Revenue of $757K, expenses of $1.4M, and assets of $7.3M (revenue +1.0% year-over-year).
2011: Revenue of $749K, expenses of $1.4M, and assets of $7.8M.

Data Sources and Methodology

This transparency report for Council Towers Ii 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.