Cumberland Gardens Housing Development Fund Company Inc
Cumberland Gardens Housing Development Fund Company Inc. consistently covers expenses but maintains significant liabilities.
EIN: 133907908 · New York, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.9M |
| Program Spending | 80% |
| Net Assets | $-3,397,807 |
| Transparency Score | 75/100 |
Is Cumberland Gardens 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 →
Cumberland Gardens Housing Development Fund Company Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cumberland Gardens Housing Development Fund Company Inc
Cumberland Gardens Housing Development Fund Company Inc (EIN: 133907908) is a nonprofit organization based in New York, NY, classified under NTEE code L20. The organization reported total revenue of $1.8M and total assets of $8.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cumberland Gardens Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cumberland Gardens Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $1.9M |
| Surplus / Deficit | +$213K |
| Total Assets | $8.4M |
| Total Liabilities | $11.8M |
| Net Assets | $-3,397,807 |
| Operating Margin | 10.3% |
| Debt-to-Asset Ratio | 140.2% |
| Months of Reserves | 54.6 months |
Financial Health Grade: A
In 2023, Cumberland Gardens Housing Development Fund Company Inc reported a surplus of $213K with revenue exceeding expenses, holds 54.6 months of operating reserves (strong position), has a debt-to-asset ratio of 140.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Cumberland Gardens Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.1% | +2.1% | +0.8% |
| 2022 | +26.5% | +8.6% | +6.4% |
| 2021 | +31.4% | +15.8% | +4.0% |
| 2020 | +9.4% | +0.5% | -0.3% |
| 2019 | +9.0% | +1.6% | -2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Cumberland Gardens Housing Development Fund Company Inc with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Cumberland Gardens Housing Development Fund Company Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $213K, with revenue exceeding expenses.
- Debt-to-asset ratio: 140.2%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to officers directly by the organization, which is a positive for minimizing administrative overhead.
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 Cumberland Gardens Housing Development Fund Company Inc's IRS 990 filings:
- Consistent liabilities significantly exceeding assets, indicating a high debt-to-asset ratio (e.g., $11,839,638 liabilities vs. $8,441,831 assets in 2023).
- Lack of detailed expense breakdown (program vs. admin) in provided data makes a precise spending efficiency analysis challenging.
Strengths
The following positive indicators were identified for Cumberland Gardens Housing Development Fund Company Inc:
- Consistent revenue generation that covers expenses (e.g., $2,067,990 revenue vs. $1,855,140 expenses in 2023).
- Zero officer compensation reported across all filings, indicating strong transparency or efficient use of funds regarding executive pay.
- Stable asset base over multiple years (around $8 million).
Frequently Asked Questions about Cumberland Gardens Housing Development Fund Company Inc
Is Cumberland Gardens Housing Development Fund Company Inc a legitimate charity?
Cumberland Gardens Housing Development Fund Company Inc (EIN: 133907908) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.8M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Cumberland Gardens Housing Development Fund Company Inc spend its money?
Cumberland Gardens Housing Development Fund Company Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Cumberland Gardens Housing Development Fund Company Inc tax-deductible?
Cumberland Gardens Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133907908). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cumberland Gardens Housing Development Fund Company Inc's spending goes to programs?
Cumberland Gardens Housing Development Fund Company Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Cumberland Gardens Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Cumberland Gardens 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 Cumberland Gardens Housing Development Fund Company Inc located?
Cumberland Gardens Housing Development Fund Company Inc is headquartered in New York, New York and files with the IRS under EIN 133907908. It is classified under NTEE code L20.
How many years of IRS 990 filings does Cumberland Gardens Housing Development Fund Company Inc have?
Cumberland Gardens Housing Development Fund Company Inc 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 $1.8M in total revenue.
Is Cumberland Gardens Housing Development Fund Company Inc. financially stable?
Yes, the organization appears financially stable, with revenues consistently exceeding expenses in recent years (e.g., $2,067,990 revenue vs. $1,855,140 expenses in 2023), allowing it to cover operational costs.
What is the nature of the organization's high liabilities?
The organization consistently reports liabilities significantly exceeding assets (e.g., $11,839,638 liabilities vs. $8,441,831 assets in 2023). Given its NTEE code (Housing Development), these are likely related to mortgages or other financing for its housing projects, which is common for such entities.
Does the organization pay its executives well?
The organization reports 0% officer compensation in all available filings, suggesting that no executive salaries are paid directly by the organization, or that compensation is covered by a related entity.
How efficient is Cumberland Gardens Housing Development Fund Company Inc. in its spending?
Without a detailed breakdown of program vs. administrative expenses, a precise efficiency assessment is difficult. However, the consistent coverage of expenses by revenue and the reported 0% officer compensation are positive indicators for financial management.
Filing History
IRS 990 filing history for Cumberland Gardens Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cumberland Gardens Housing Development Fund Company Inc's revenue has grown by 130%, moving from $899K to $2.1M. Total assets decreased by 10.5% over the same period, from $9.4M to $8.4M. Total functional expenses rose by 66.7%, from $1.1M to $1.9M. In its most recent filing year (2023), Cumberland Gardens Housing Development Fund Company Inc reported a surplus of $213K, with revenue exceeding expenses. The organization holds $11.8M in liabilities against $8.4M in assets (debt-to-asset ratio: 140.2%), resulting in net assets of $-3,397,807.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $1.9M | $8.4M | $11.8M | — | — |
| 2022 | $2.3M | $1.8M | $8.4M | $12.0M | — | View 990 |
| 2021 | $1.8M | $1.7M | $7.9M | $12.0M | — | — |
| 2020 | $1.4M | $1.4M | $7.6M | $11.8M | — | View 990 |
| 2019 | $1.3M | $1.4M | $7.6M | $11.8M | — | View 990 |
| 2018 | $1.2M | $1.4M | $7.7M | $11.8M | — | View 990 |
| 2017 | $1.1M | $1.4M | $8.0M | $11.8M | — | View 990 |
| 2016 | $1.0M | $1.3M | $8.3M | $11.8M | — | View 990 |
| 2015 | $1.0M | $1.3M | $8.5M | $11.7M | — | View 990 |
| 2014 | $1.0M | $1.2M | $8.8M | $11.7M | — | View 990 |
| 2013 | $996K | $1.2M | $9.1M | $11.8M | — | View 990 |
| 2012 | $920K | $1.1M | $9.2M | $11.7M | — | View 990 |
| 2011 | $899K | $1.1M | $9.4M | $11.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $1.9M, and assets of $8.4M (revenue -10.1% year-over-year).
- 2022: Revenue of $2.3M, expenses of $1.8M, and assets of $8.4M (revenue +26.5% year-over-year).
- 2021: Revenue of $1.8M, expenses of $1.7M, and assets of $7.9M (revenue +31.4% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.4M, and assets of $7.6M (revenue +9.4% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.4M, and assets of $7.6M (revenue +9.0% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.4M, and assets of $7.7M (revenue +5.4% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.4M, and assets of $8.0M (revenue +7.2% year-over-year).
- 2016: Revenue of $1.0M, expenses of $1.3M, and assets of $8.3M (revenue +2.3% year-over-year).
- 2015: Revenue of $1.0M, expenses of $1.3M, and assets of $8.5M (revenue -0.7% year-over-year).
- 2014: Revenue of $1.0M, expenses of $1.2M, and assets of $8.8M (revenue +1.7% year-over-year).
- 2013: Revenue of $996K, expenses of $1.2M, and assets of $9.1M (revenue +8.2% year-over-year).
- 2012: Revenue of $920K, expenses of $1.1M, and assets of $9.2M (revenue +2.3% year-over-year).
- 2011: Revenue of $899K, expenses of $1.1M, and assets of $9.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cumberland Gardens Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Cumberland Gardens 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.