E C Housing Development Fund Company Inc
E C Housing Development Fund Company Inc faces persistent operating deficits and high liabilities, raising financial sustainability concerns.
EIN: 133121459 · Bronx, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $2.2M |
| Program Spending | 75% |
| Net Assets | $-4,755,693 |
| Transparency Score | 40/100 |
Is E C Housing Development Fund Company Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
E C Housing Development Fund Company Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About E C Housing Development Fund Company Inc
E C Housing Development Fund Company Inc (EIN: 133121459) is a nonprofit organization based in Bronx, NY. The organization reported total revenue of $2.1M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of E C Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
E C Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-48,817 |
| Total Assets | $2.8M |
| Total Liabilities | $7.5M |
| Net Assets | $-4,755,693 |
| Operating Margin | -2.2% |
| Debt-to-Asset Ratio | 271.1% |
| Months of Reserves | 14.9 months |
Financial Health Grade: C
In 2023, E C Housing Development Fund Company Inc reported a deficit of $49K with expenses exceeding revenue, holds 14.9 months of operating reserves (strong position), has a debt-to-asset ratio of 271.1% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.4% | -16.8% | -4.1% |
| 2022 | +13.3% | +21.7% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
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 E C Housing Development Fund Company Inc with a Mission Score of 40 out of 100 (Fair). 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: 75%
- fundraising: 10%
According to IRS 990 filings, E C Housing Development Fund Company Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $49K, with expenses exceeding revenue.
- Debt-to-asset ratio: 271.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no compensation was paid to officers, which is a positive sign for resource allocation.
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 E C Housing Development Fund Company Inc's IRS 990 filings:
- Persistent operating deficits (e.g., $48,817 deficit in 2023, $372,876 deficit in 2022).
- Liabilities significantly exceed assets (e.g., $7,535,734 liabilities vs. $2,780,041 assets in 2023).
- Unexplained periods of $0 reported expenses despite negative revenue (2014-2020).
- Negative revenue reported in multiple years (e.g., -$166,954 in 2020, -$79,401 in 2019).
Strengths
The following positive indicators were identified for E C Housing Development Fund Company Inc:
- 0% reported officer compensation across all available filings, indicating no executive pay.
- Consistent filing of IRS 990 forms, demonstrating a commitment to regulatory compliance.
Frequently Asked Questions about E C Housing Development Fund Company Inc
Is E C Housing Development Fund Company Inc a legitimate charity?
E C Housing Development Fund Company Inc (EIN: 133121459) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 40/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.1M. 4 red flags identified. 2 strengths noted. Financial health grade: C.
How does E C Housing Development Fund Company Inc spend its money?
E C Housing Development Fund Company Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to E C Housing Development Fund Company Inc tax-deductible?
E C Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133121459). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of E C Housing Development Fund Company Inc's spending goes to programs?
E C Housing Development Fund Company Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is E C Housing Development Fund Company Inc located?
E C Housing Development Fund Company Inc is headquartered in Bronx, New York and files with the IRS under EIN 133121459.
How many years of IRS 990 filings does E C Housing Development Fund Company Inc have?
E C 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 $2.1M in total revenue.
Why were no expenses reported for the periods between 2014 and 2020, despite negative revenue figures?
The IRS 990 filings for E C Housing Development Fund Company Inc show $0 expenses reported from 2014 through 2020, which is highly unusual for an active organization, especially when negative revenues were also reported during these years. This suggests potential issues with financial reporting completeness or a unique operational structure not immediately apparent from the summary data.
How does the organization plan to address its persistent operating deficits?
In 2023, expenses exceeded revenue by $48,817, and in 2022, expenses exceeded revenue by $372,876. This consistent trend of spending more than it earns indicates a need for a clear strategy to achieve financial sustainability.
What is the nature of the significant liabilities, which consistently outweigh assets?
The organization's liabilities have consistently been much higher than its assets, for example, $7,535,734 in liabilities versus $2,780,041 in assets in 2023. Understanding the composition and repayment plan for these liabilities is crucial for assessing long-term financial stability.
What specific programs does E C Housing Development Fund Company Inc operate, and what is their impact?
The provided data does not detail the specific programs or their impact. Given the organization's name, it likely focuses on housing development, but further information on its activities would be beneficial for assessing its mission effectiveness.
Filing History
IRS 990 filing history for E C Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Total assets decreased by 41.2% over the same period, from $4.7M to $2.8M. In its most recent filing year (2023), E C Housing Development Fund Company Inc reported a deficit of $49K, with expenses exceeding revenue. The organization holds $7.5M in liabilities against $2.8M in assets (debt-to-asset ratio: 271.1%), resulting in net assets of $-4,755,693.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $2.2M | $2.8M | $7.5M | — | — |
| 2022 | $2.3M | $2.7M | $2.9M | $7.6M | — | View 990 |
| 2021 | $2.0M | $2.2M | $2.9M | $7.3M | — | View 990 |
| 2020 | $-166,954 | $0 | $2.9M | $7.1M | — | View 990 |
| 2019 | $-79,401 | $0 | $3.0M | $7.0M | — | View 990 |
| 2018 | $-105,457 | $0 | $3.0M | $6.9M | — | View 990 |
| 2017 | $-81,012 | $0 | $3.3M | $7.1M | — | View 990 |
| 2016 | $-177,401 | $0 | $3.5M | $7.2M | — | View 990 |
| 2015 | $-98,441 | $0 | $4.0M | $7.5M | — | View 990 |
| 2014 | $-78,621 | $0 | $4.2M | $7.6M | — | View 990 |
| 2013 | $-77,310 | $0 | $4.3M | $7.7M | — | View 990 |
| 2012 | $-99,719 | $0 | $4.5M | $7.8M | — | View 990 |
| 2011 | $-195,287 | $0 | $4.7M | $7.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $2.2M, and assets of $2.8M (revenue -5.4% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.7M, and assets of $2.9M (revenue +13.3% year-over-year).
- 2021: Revenue of $2.0M, expenses of $2.2M, and assets of $2.9M.
- 2020: Revenue of $-166,954, expenses of $0, and assets of $2.9M.
- 2019: Revenue of $-79,401, expenses of $0, and assets of $3.0M.
- 2018: Revenue of $-105,457, expenses of $0, and assets of $3.0M.
- 2017: Revenue of $-81,012, expenses of $0, and assets of $3.3M.
- 2016: Revenue of $-177,401, expenses of $0, and assets of $3.5M.
- 2015: Revenue of $-98,441, expenses of $0, and assets of $4.0M.
- 2014: Revenue of $-78,621, expenses of $0, and assets of $4.2M.
- 2013: Revenue of $-77,310, expenses of $0, and assets of $4.3M.
- 2012: Revenue of $-99,719, expenses of $0, and assets of $4.5M.
- 2011: Revenue of $-195,287, expenses of $0, and assets of $4.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for E C Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for E C 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.