Covered Bridge Affordable Housing Corporation
Covered Bridge Affordable Housing Corporation consistently operates with deficits but maintains over $1.1 million in assets and reports no officer compensation.
EIN: 10563728 · Concord, NH · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $263K |
| Total Expenses | $269K |
| Program Spending | 90% |
| Net Assets | $1.1M |
| Transparency Score | 85/100 |
Is Covered Bridge Affordable Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Covered Bridge Affordable Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Covered Bridge Affordable Housing Corporation
Covered Bridge Affordable Housing Corporation (EIN: 10563728) is a nonprofit organization based in Concord, NH, classified under NTEE code L20. The organization reported total revenue of $263K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covered Bridge Affordable Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Covered Bridge Affordable Housing Corporation is a small nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $223K |
| Total Expenses | $269K |
| Surplus / Deficit | $-46,736 |
| Total Assets | $1.1M |
| Total Liabilities | $21K |
| Net Assets | $1.1M |
| Operating Margin | -21.0% |
| Debt-to-Asset Ratio | 1.9% |
| Months of Reserves | 49.4 months |
Financial Health Grade: B
In 2023, Covered Bridge Affordable Housing Corporation reported a deficit of $47K with expenses exceeding revenue, holds 49.4 months of operating reserves (strong position), has a debt-to-asset ratio of 1.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Covered Bridge Affordable Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.5% | +8.9% | -4.0% |
| 2022 | +2.1% | +1.3% | -3.2% |
| 2021 | -0.4% | +1.2% | -4.2% |
| 2020 | -1.8% | +0.2% | -2.2% |
| 2019 | -35.3% | -9.3% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Covered Bridge Affordable Housing 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, Covered Bridge Affordable Housing 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 deficit of $47K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that no officers receive compensation from the organization. This is a strong positive for an organization of its size, suggesting high efficiency in directing funds to its mission.
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 Covered Bridge Affordable Housing Corporation's IRS 990 filings:
- Consistent operating deficits (e.g., $46,736 deficit in 2023)
- Gradual decline in total assets over the past decade
Strengths
The following positive indicators were identified for Covered Bridge Affordable Housing Corporation:
- Zero officer compensation reported across all filings
- Substantial asset base ($1,110,064 in 2023) providing financial stability
- Clear alignment between NTEE code (L20 - Housing Development) and organizational name/mission
- Low liabilities relative to assets (e.g., $20,694 liabilities vs. $1,110,064 assets in 2023)
Frequently Asked Questions about Covered Bridge Affordable Housing Corporation
Is Covered Bridge Affordable Housing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Covered Bridge Affordable Housing Corporation (EIN: 10563728) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Covered Bridge Affordable Housing Corporation spend its money?
Covered Bridge Affordable Housing Corporation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Covered Bridge Affordable Housing Corporation tax-deductible?
Covered Bridge Affordable Housing Corporation is registered as a tax-exempt nonprofit (EIN: 10563728). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Covered Bridge Affordable Housing Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Covered Bridge Affordable Housing 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 Covered Bridge Affordable Housing Corporation located?
Covered Bridge Affordable Housing Corporation is headquartered in Concord, New Hampshire and files with the IRS under EIN 10563728. It is classified under NTEE code L20.
How many years of IRS 990 filings does Covered Bridge Affordable Housing Corporation have?
Covered Bridge Affordable Housing 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 $263K in total revenue.
Is Covered Bridge Affordable Housing Corporation a good charity?
Based on the available data, Covered Bridge Affordable Housing Corporation appears to be a good charity. It consistently reports zero officer compensation, maintains a healthy asset base, and its spending is likely heavily program-focused given the lack of fundraising expenses and executive salaries.
How does Covered Bridge Affordable Housing Corporation fund its operations given consistent deficits?
The organization consistently reports expenses exceeding revenue in recent years (e.g., $269,417 expenses vs. $222,681 revenue in 2023). It likely covers these deficits by drawing from its substantial assets, which were $1,110,064 in 2023, or through other non-operating income not detailed in this summary.
What is the trend in the organization's assets?
The organization's assets have shown a gradual decline over the past decade, from $1,879,743 in 2014 to $1,110,064 in 2023. This trend, coupled with consistent operating deficits, suggests the organization may be utilizing its reserves.
Filing History
IRS 990 filing history for Covered Bridge Affordable Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Covered Bridge Affordable Housing Corporation's revenue has grown by 6.1%, moving from $210K to $223K. Total assets decreased by 43.8% over the same period, from $2.0M to $1.1M. Total functional expenses rose by 11.9%, from $241K to $269K. In its most recent filing year (2023), Covered Bridge Affordable Housing Corporation reported a deficit of $47K, with expenses exceeding revenue. The organization holds $21K in liabilities against $1.1M in assets (debt-to-asset ratio: 1.9%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $223K | $269K | $1.1M | $21K | — | View 990 |
| 2022 | $205K | $247K | $1.2M | $20K | — | — |
| 2021 | $201K | $244K | $1.2M | $16K | — | View 990 |
| 2020 | $202K | $241K | $1.2M | $25K | — | View 990 |
| 2019 | $206K | $241K | $1.3M | $14K | — | View 990 |
| 2018 | $318K | $266K | $1.3M | $16K | — | View 990 |
| 2017 | $205K | $281K | $1.3M | $50K | — | View 990 |
| 2016 | $204K | $727K | $1.4M | $52K | — | View 990 |
| 2015 | $208K | $230K | $1.9M | $15K | — | View 990 |
| 2014 | $206K | $239K | $1.9M | $15K | — | View 990 |
| 2013 | $208K | $235K | $1.9M | $15K | — | View 990 |
| 2012 | $207K | $244K | $1.9M | $15K | — | View 990 |
| 2011 | $210K | $241K | $2.0M | $13K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $223K, expenses of $269K, and assets of $1.1M (revenue +8.5% year-over-year).
- 2022: Revenue of $205K, expenses of $247K, and assets of $1.2M (revenue +2.1% year-over-year).
- 2021: Revenue of $201K, expenses of $244K, and assets of $1.2M (revenue -0.4% year-over-year).
- 2020: Revenue of $202K, expenses of $241K, and assets of $1.2M (revenue -1.8% year-over-year).
- 2019: Revenue of $206K, expenses of $241K, and assets of $1.3M (revenue -35.3% year-over-year).
- 2018: Revenue of $318K, expenses of $266K, and assets of $1.3M (revenue +55.4% year-over-year).
- 2017: Revenue of $205K, expenses of $281K, and assets of $1.3M (revenue +0.2% year-over-year).
- 2016: Revenue of $204K, expenses of $727K, and assets of $1.4M (revenue -2.1% year-over-year).
- 2015: Revenue of $208K, expenses of $230K, and assets of $1.9M (revenue +1.0% year-over-year).
- 2014: Revenue of $206K, expenses of $239K, and assets of $1.9M (revenue -0.8% year-over-year).
- 2013: Revenue of $208K, expenses of $235K, and assets of $1.9M (revenue +0.5% year-over-year).
- 2012: Revenue of $207K, expenses of $244K, and assets of $1.9M (revenue -1.4% year-over-year).
- 2011: Revenue of $210K, expenses of $241K, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Covered Bridge Affordable Housing Corporation:
Data Sources and Methodology
This transparency report for Covered Bridge Affordable Housing 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.