Crotona Estates Housing Development Fund Company Inc
Crotona Estates Housing Development Fund Company Inc. consistently operates with liabilities exceeding assets, despite revenues generally covering expenses.
EIN: 132709826 · New York, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.0M |
| Total Expenses | $2.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $-4,332,364 |
| Transparency Score | 65/100 |
Is Crotona Estates Housing Development Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Crotona Estates Housing Development Fund Company Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Crotona Estates Housing Development Fund Company Inc
Crotona Estates Housing Development Fund Company Inc (EIN: 132709826) is a nonprofit organization based in New York, NY, classified under NTEE code L20. The organization reported total revenue of $3.0M and total assets of $5.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Crotona Estates Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Crotona Estates Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 12 years, with 9 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of -2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.0M |
| Total Expenses | $2.8M |
| Surplus / Deficit | +$205K |
| Total Assets | $5.6M |
| Total Liabilities | $9.9M |
| Net Assets | $-4,332,364 |
| Operating Margin | 6.7% |
| Debt-to-Asset Ratio | 177.5% |
| Months of Reserves | 23.7 months |
Financial Health Grade: A
In 2023, Crotona Estates Housing Development Fund Company Inc reported a surplus of $205K with revenue exceeding expenses, holds 23.7 months of operating reserves (strong position), has a debt-to-asset ratio of 177.5% (high leverage).
Financial Trends
Over 9 years of filings (2014–2023), Crotona Estates Housing Development Fund Company Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.7% | -52.4% | +1.7% |
| 2022 | -0.3% | +110.6% | -36.3% |
| 2021 | +2.8% | -17.9% | -2.1% |
| 2020 | +7.9% | -32.5% | -23.1% |
| 2019 | -2.2% | +60.1% | -14.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
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 Crotona Estates Housing Development Fund Company Inc with a Mission Score of 65 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, Crotona Estates Housing Development Fund Company Inc 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 surplus of $205K, with revenue exceeding expenses.
- Debt-to-asset ratio: 177.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees received compensation directly from the organization, which is unusual for an organization with over $3 million in annual 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 Crotona Estates Housing Development Fund Company Inc's IRS 990 filings:
- Consistent negative net asset position (liabilities exceeding assets) since 2018, with liabilities reaching $9,924,682 against $5,592,318 in assets in 2023.
- 0% reported officer compensation across all filings, which is unusual for an organization of this size and revenue, potentially indicating compensation through other means or entities not fully disclosed.
- Significant fluctuations in expenses, such as $5,948,285 in 2022 compared to $2,834,304 in 2023, without clear explanations in the provided data.
Strengths
The following positive indicators were identified for Crotona Estates Housing Development Fund Company Inc:
- Revenues generally cover expenses in most recent periods, such as $3,038,815 revenue vs. $2,834,304 expenses in 2023.
- Consistent operational activity over multiple years, indicating stability in its core functions.
- Focus on housing development (NTEE L20) suggests a clear mission-driven approach.
Frequently Asked Questions about Crotona Estates Housing Development Fund Company Inc
Is Crotona Estates Housing Development Fund Company Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Crotona Estates Housing Development Fund Company Inc (EIN: 132709826) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Crotona Estates Housing Development Fund Company Inc spend its money?
Crotona Estates Housing Development Fund Company Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Crotona Estates Housing Development Fund Company Inc tax-deductible?
Crotona Estates Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 132709826). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Crotona Estates Housing Development Fund Company Inc CEO make?
Crotona Estates Housing Development Fund Company Inc's highest-compensated officer earns $3 annually. The organization reported $3.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Crotona Estates Housing Development Fund Company Inc's spending goes to programs?
Crotona Estates Housing Development Fund Company Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Crotona Estates Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Crotona Estates Housing Development Fund Company Inc 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 Crotona Estates Housing Development Fund Company Inc located?
Crotona Estates Housing Development Fund Company Inc is headquartered in New York, New York and files with the IRS under EIN 132709826. It is classified under NTEE code L20.
How many years of IRS 990 filings does Crotona Estates Housing Development Fund Company Inc have?
Crotona Estates Housing Development Fund Company Inc has 9 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 $3.0M in total revenue.
What is the nature of the significant liabilities, which have consistently exceeded assets since 2018?
The filings show liabilities of $9,924,682 against assets of $5,592,318 in 2023, a trend that has persisted for several years. Understanding if these are project-specific debts, mortgages, or other long-term obligations is crucial for assessing financial risk.
How does the organization manage its leadership and operational costs without reporting any officer compensation?
The consistent 0% officer compensation across all filings suggests either a fully volunteer-led executive team or that compensation is handled through a related entity, which would require further investigation for full transparency.
What is the long-term strategy for addressing the negative net asset position?
With liabilities consistently higher than assets, the organization's financial structure appears to be heavily leveraged. A clear strategy for improving net assets would be important for long-term sustainability.
Filing History
IRS 990 filing history for Crotona Estates Housing Development Fund Company Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2014–2023), Crotona Estates Housing Development Fund Company Inc's revenue has declined by 16.7%, moving from $3.7M to $3.0M. Total assets increased by 211.5% over the same period, from $1.8M to $5.6M. Total functional expenses rose by 73.2%, from $1.6M to $2.8M. In its most recent filing year (2023), Crotona Estates Housing Development Fund Company Inc reported a surplus of $205K, with revenue exceeding expenses. The organization holds $9.9M in liabilities against $5.6M in assets (debt-to-asset ratio: 177.5%), resulting in net assets of $-4,332,364.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.0M | $2.8M | $5.6M | $9.9M | — | View 990 |
| 2022 | $2.9M | $5.9M | $5.5M | $10.0M | — | View 990 |
| 2021 | $2.9M | $2.8M | $8.6M | $10.3M | — | View 990 |
| 2020 | $2.9M | $3.4M | $8.8M | $10.6M | — | View 990 |
| 2019 | $2.7M | $5.1M | $11.5M | $12.7M | — | View 990 |
| 2018 | $2.7M | $3.2M | $13.4M | $12.2M | — | View 990 |
| 2017 | $2.2M | $2.4M | $13.3M | $11.6M | — | View 990 |
| 2016 | $1.8M | $1.6M | $2.2M | $252K | — | View 990 |
| 2014 | $3.7M | $1.6M | $1.8M | $382K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.0M, expenses of $2.8M, and assets of $5.6M (revenue +3.7% year-over-year).
- 2022: Revenue of $2.9M, expenses of $5.9M, and assets of $5.5M (revenue -0.3% year-over-year).
- 2021: Revenue of $2.9M, expenses of $2.8M, and assets of $8.6M (revenue +2.8% year-over-year).
- 2020: Revenue of $2.9M, expenses of $3.4M, and assets of $8.8M (revenue +7.9% year-over-year).
- 2019: Revenue of $2.7M, expenses of $5.1M, and assets of $11.5M (revenue -2.2% year-over-year).
- 2018: Revenue of $2.7M, expenses of $3.2M, and assets of $13.4M (revenue +24.9% year-over-year).
- 2017: Revenue of $2.2M, expenses of $2.4M, and assets of $13.3M (revenue +20.7% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.6M, and assets of $2.2M (revenue -50.7% year-over-year).
- 2014: Revenue of $3.7M, expenses of $1.6M, and assets of $1.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Crotona Estates Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Crotona Estates Housing Development Fund Company Inc 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.