Downstreet Housing & Community Development Inc
Downstreet Housing & Community Development: Strong Financials, High Program Spending
EIN: 222843473 · Barre, VT · NTEE: L210 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $10.5M |
| Total Expenses | $5.5M |
| Program Spending | 80% |
| Net Assets | $15.0M |
| Transparency Score | 85/100 |
Is Downstreet Housing & Community Development Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Downstreet Housing & Community Development Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Downstreet Housing & Community Development Inc
Downstreet Housing & Community Development Inc (EIN: 222843473) is a nonprofit organization based in Barre, VT, classified under NTEE code L210. The organization reported total revenue of $10.5M and total assets of $22.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Downstreet Housing & Community Development Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Downstreet Housing & Community Development Inc is a large nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.7M |
| Total Expenses | $5.5M |
| Surplus / Deficit | +$1.2M |
| Total Assets | $18.7M |
| Total Liabilities | $3.8M |
| Net Assets | $15.0M |
| Operating Margin | 18.2% |
| Debt-to-Asset Ratio | 20.0% |
| Months of Reserves | 41.2 months |
Financial Health Grade: A
In 2023, Downstreet Housing & Community Development Inc reported a surplus of $1.2M with revenue exceeding expenses, holds 41.2 months of operating reserves (strong position), has a debt-to-asset ratio of 20.0% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Downstreet Housing & Community Development Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.0% | +17.7% | +4.3% |
| 2022 | +18.8% | -0.6% | +20.7% |
| 2021 | +5.8% | +0.8% | +1.4% |
| 2020 | +1.4% | +19.8% | +5.0% |
| 2019 | +31.5% | +7.7% | +8.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Downstreet Housing & Community Development Inc 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: 80%
- fundraising: 10%
According to IRS 990 filings, Downstreet Housing & Community Development Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. 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 $1.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 20.0%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, with 'c0%' consistently reported, suggesting either volunteer leadership or compensation being reported under different expense categories.
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 Downstreet Housing & Community Development Inc's IRS 990 filings:
- Lack of specific executive compensation details (consistently reported as 'c0%') makes it difficult to assess leadership costs and potential for conflicts of interest.
Strengths
The following positive indicators were identified for Downstreet Housing & Community Development Inc:
- Consistent growth in total assets from $12.4M in 2017 to $18.7M in 2023 demonstrates strong financial health and capacity.
- High program spending (estimated 80%) indicates a strong commitment to its mission.
- Revenue has shown consistent growth, from $3.3M in 2017 to $6.6M in 2023, reflecting increasing support and operational scale.
- The organization maintains a healthy asset-to-liability ratio, indicating good financial stability.
Frequently Asked Questions about Downstreet Housing & Community Development Inc
Is Downstreet Housing & Community Development Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Downstreet Housing & Community Development Inc (EIN: 222843473) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Downstreet Housing & Community Development Inc spend its money?
Downstreet Housing & Community Development Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Downstreet Housing & Community Development Inc tax-deductible?
Downstreet Housing & Community Development Inc is registered as a tax-exempt nonprofit (EIN: 222843473). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Downstreet Housing & Community Development Inc's spending goes to programs?
Downstreet Housing & Community Development Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Downstreet Housing & Community Development Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Downstreet Housing & Community Development Inc is above average for NTEE category L210 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Downstreet Housing & Community Development Inc located?
Downstreet Housing & Community Development Inc is headquartered in Barre, Vermont and files with the IRS under EIN 222843473. It is classified under NTEE code L210.
How many years of IRS 990 filings does Downstreet Housing & Community Development Inc have?
Downstreet Housing & Community Development 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 $10.5M in total revenue.
What does Downstreet Housing & Community Development Inc do?
Downstreet Housing & Community Development Inc is a nonprofit organization in the Housing & Shelter sector, located in Barre, Vermont. It is classified under NTEE code L210.
How much revenue does Downstreet Housing & Community Development Inc have?
Downstreet Housing & Community Development Inc reported total revenue of $10,462,907. Based on 13 IRS 990 filings on record.
What are Downstreet Housing & Community Development Inc's total assets?
Downstreet Housing & Community Development Inc holds total assets of $22,761,697 as reported in IRS 990 filings.
Where is Downstreet Housing & Community Development Inc located?
Downstreet Housing & Community Development Inc is based in Barre, Vermont.
What is Downstreet Housing & Community Development Inc's EIN?
Downstreet Housing & Community Development Inc's Employer Identification Number (EIN) is 222843473. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Downstreet Housing & Community Development Inc?
Downstreet Housing & Community Development Inc is classified under NTEE code L210 (Housing & Shelter).
Is Downstreet Housing & Community Development Inc a registered 501(c)(3)?
Yes, Downstreet Housing & Community Development Inc is recognized as a tax-exempt organization by the IRS. EIN: 222843473.
Does Downstreet Housing & Community Development Inc file IRS Form 990?
Yes, Downstreet Housing & Community Development Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Downstreet Housing & Community Development Inc's revenue in 2023?
In the 202312 filing period, Downstreet Housing & Community Development Inc reported total revenue of $6,665,930, total expenses of $5,451,350, and net assets of $18,731,814.
Is Downstreet Housing & Community Development Inc's revenue growing or declining?
Downstreet Housing & Community Development Inc's revenue is growing. Revenue went from $6,169,989 (202212) to $6,665,930 (202312), a +8.0% change. Based on 13 filings on record.
What is Downstreet Housing & Community Development Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Downstreet Housing & Community Development Inc covers tax period 202312. It shows revenue of $6,665,930, expenses of $5,451,350, total assets of $18,731,814, and liabilities of $3,755,722.
How much does Downstreet Housing & Community Development Inc spend on programs vs administration?
Based on IRS 990 analysis, Downstreet Housing & Community Development Inc allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Downstreet Housing & Community Development Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Downstreet Housing & Community Development Inc appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 4 strengths noted.
What are the red flags for Downstreet Housing & Community Development Inc?
The following concerns were identified: Lack of specific executive compensation details (consistently reported as 'c0%') makes it difficult to assess leadership costs and potential for conflicts of interest.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Downstreet Housing & Community Development Inc's strengths?
Positive indicators for Downstreet Housing & Community Development Inc include: Consistent growth in total assets from $12.4M in 2017 to $18.7M in 2023 demonstrates strong financial health and capacity.. High program spending (estimated 80%) indicates a strong commitment to its mission.. Revenue has shown consistent growth, from $3.3M in 2017 to $6.6M in 2023, reflecting increasing support and operational scale.. The organization maintains a healthy asset-to-liability ratio, indicating good financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Downstreet Housing & Community Development Inc compensate executives?
Executive compensation is not explicitly detailed in the provided filings, with 'c0%' consistently reported, suggesting either volunteer leadership or compensation being reported under different expense categories. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the 'c0%' for compensation, how does Downstreet Housing & Community Development Inc. manage its executive leadership and what are the actual costs associated with it?
The consistent reporting of 'c0%' for compensation in the provided filings suggests that executive salaries might be categorized differently within the expense breakdown, or the organization heavily relies on volunteer leadership. Further investigation into their detailed Form 990 would be necessary to understand the true cost of executive compensation.
What specific programs or initiatives have driven the significant increase in total assets from $12.4M in 2017 to $18.7M in 2023?
The substantial growth in assets likely reflects successful capital campaigns, property acquisitions, or significant investments in housing and community development projects. Analyzing their program reports and specific asset acquisition details would clarify the drivers of this growth.
Filing History
IRS 990 filing history for Downstreet Housing & Community Development Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Downstreet Housing & Community Development Inc's revenue has grown by 72.1%, moving from $3.9M to $6.7M. Total assets increased by 78.5% over the same period, from $10.5M to $18.7M. Total functional expenses rose by 122.8%, from $2.4M to $5.5M. In its most recent filing year (2023), Downstreet Housing & Community Development Inc reported a surplus of $1.2M, with revenue exceeding expenses. The organization holds $3.8M in liabilities against $18.7M in assets (debt-to-asset ratio: 20.0%), resulting in net assets of $15.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.7M | $5.5M | $18.7M | $3.8M | — | View 990 |
| 2022 | $6.2M | $4.6M | $18.0M | $4.2M | — | — |
| 2021 | $5.2M | $4.7M | $14.9M | $2.7M | — | View 990 |
| 2020 | $4.9M | $4.6M | $14.7M | $3.0M | — | — |
| 2019 | $4.8M | $3.9M | $14.0M | $2.8M | — | View 990 |
| 2018 | $3.7M | $3.6M | $12.9M | $2.7M | — | View 990 |
| 2017 | $3.3M | $3.5M | $12.4M | $2.8M | — | View 990 |
| 2016 | $3.4M | $3.6M | $13.6M | $3.8M | — | View 990 |
| 2015 | $3.4M | $3.6M | $13.2M | $3.2M | — | View 990 |
| 2014 | $3.5M | $3.6M | $13.7M | $3.5M | — | View 990 |
| 2013 | $3.5M | $3.1M | $13.6M | $3.7M | — | View 990 |
| 2012 | $3.4M | $2.5M | $12.2M | $2.6M | — | View 990 |
| 2011 | $3.9M | $2.4M | $10.5M | $1.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.7M, expenses of $5.5M, and assets of $18.7M (revenue +8.0% year-over-year).
- 2022: Revenue of $6.2M, expenses of $4.6M, and assets of $18.0M (revenue +18.8% year-over-year).
- 2021: Revenue of $5.2M, expenses of $4.7M, and assets of $14.9M (revenue +5.8% year-over-year).
- 2020: Revenue of $4.9M, expenses of $4.6M, and assets of $14.7M (revenue +1.4% year-over-year).
- 2019: Revenue of $4.8M, expenses of $3.9M, and assets of $14.0M (revenue +31.5% year-over-year).
- 2018: Revenue of $3.7M, expenses of $3.6M, and assets of $12.9M (revenue +10.4% year-over-year).
- 2017: Revenue of $3.3M, expenses of $3.5M, and assets of $12.4M (revenue -1.5% year-over-year).
- 2016: Revenue of $3.4M, expenses of $3.6M, and assets of $13.6M (revenue +1.0% year-over-year).
- 2015: Revenue of $3.4M, expenses of $3.6M, and assets of $13.2M (revenue -4.6% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.6M, and assets of $13.7M (revenue +0.7% year-over-year).
- 2013: Revenue of $3.5M, expenses of $3.1M, and assets of $13.6M (revenue +3.7% year-over-year).
- 2012: Revenue of $3.4M, expenses of $2.5M, and assets of $12.2M (revenue -13.2% year-over-year).
- 2011: Revenue of $3.9M, expenses of $2.4M, and assets of $10.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Downstreet Housing & Community Development Inc:
Data Sources and Methodology
This transparency report for Downstreet Housing & Community Development 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.