Erie Regional Housing Development Corp
Erie Regional Housing Development Corp shows consistent asset growth and no reported executive compensation over the past decade.
EIN: 161559032 · Buffalo, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.1M |
| Total Expenses | $1.6M |
| Program Spending | 90% |
| Net Assets | $1.6M |
| Transparency Score | 92/100 |
Is Erie Regional Housing Development Corp Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Erie Regional Housing Development Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Erie Regional Housing Development Corp
Erie Regional Housing Development Corp (EIN: 161559032) is a nonprofit organization based in Buffalo, NY, classified under NTEE code L20. The organization reported total revenue of $3.1M and total assets of $4.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Erie Regional Housing Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Erie Regional Housing Development Corp is a mid-size nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). 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 | $1.7M |
| Total Expenses | $1.6M |
| Surplus / Deficit | +$72K |
| Total Assets | $1.7M |
| Total Liabilities | $74K |
| Net Assets | $1.6M |
| Operating Margin | 4.3% |
| Debt-to-Asset Ratio | 4.5% |
| Months of Reserves | 12.6 months |
Financial Health Grade: A
In 2023, Erie Regional Housing Development Corp reported a surplus of $72K with revenue exceeding expenses, holds 12.6 months of operating reserves (strong position), has a debt-to-asset ratio of 4.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Erie Regional Housing Development Corp's revenue has declined at a compound annual growth rate (CAGR) of -2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.6% | +39.2% | +4.6% |
| 2022 | +2.8% | -0.5% | +26.7% |
| 2021 | +1.6% | -18.5% | +1.6% |
| 2020 | -27.0% | -29.0% | +16.5% |
| 2019 | -1.0% | +12.5% | -15.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1999 |
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 Erie Regional Housing Development Corp with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Erie Regional Housing Development Corp allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 surplus of $72K, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is a highly positive indicator, suggesting that all funds are directed towards the organization's mission and operational costs, rather than executive salaries.
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.
Strengths
The following positive indicators were identified for Erie Regional Housing Development Corp:
- Consistent asset growth, from $842,534 in 2014 to $1,672,243 in 2023.
- No reported officer compensation across all 13 filings, indicating high efficiency and dedication of funds to mission.
- Consistent generation of financial surpluses, with revenue exceeding expenses in most years (e.g., 2023: Revenue $1,660,056 vs. Expenses $1,588,224).
- Strong financial stability with liabilities significantly lower than assets, especially in recent years (e.g., 2023: Liabilities $74,492 vs. Assets $1,672,243).
- Long and consistent history of IRS 990 filings (13 filings), demonstrating transparency and accountability.
Frequently Asked Questions about Erie Regional Housing Development Corp
Is Erie Regional Housing Development Corp a legitimate charity?
Erie Regional Housing Development Corp (EIN: 161559032) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.1M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Erie Regional Housing Development Corp spend its money?
Erie Regional Housing Development Corp directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Erie Regional Housing Development Corp tax-deductible?
Erie Regional Housing Development Corp is registered as a tax-exempt nonprofit (EIN: 161559032). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Erie Regional Housing Development Corp's spending goes to programs?
Erie Regional Housing Development Corp directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Erie Regional Housing Development Corp compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Erie Regional Housing Development Corp 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 Erie Regional Housing Development Corp located?
Erie Regional Housing Development Corp is headquartered in Buffalo, New York and files with the IRS under EIN 161559032. It is classified under NTEE code L20.
How many years of IRS 990 filings does Erie Regional Housing Development Corp have?
Erie Regional Housing Development Corp 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 $3.1M in total revenue.
Is Erie Regional Housing Development Corp a good charity?
Based on the provided financial data, Erie Regional Housing Development Corp appears to be a good charity. It demonstrates consistent financial health, asset growth, and a strong commitment to its mission by reporting 0% officer compensation across all filings, suggesting efficient use of funds.
How has the organization's financial health changed over time?
The organization's financial health has steadily improved. Assets have nearly doubled from $842,534 in 2014 to $1,672,243 in 2023. Revenue has generally remained strong, and expenses have been consistently managed within revenue, leading to surpluses in most years.
What is the trend in the organization's liabilities?
Liabilities have fluctuated but generally remained manageable relative to assets. For example, in 2014, liabilities were $521,002 against assets of $842,534, while in 2023, liabilities were $74,492 against assets of $1,672,243, indicating a significant improvement in the liability-to-asset ratio.
Filing History
IRS 990 filing history for Erie Regional Housing Development Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Erie Regional Housing Development Corp's revenue has declined by 22%, moving from $2.1M to $1.7M. Total assets increased by 88.2% over the same period, from $889K to $1.7M. Total functional expenses fell by 30.4%, from $2.3M to $1.6M. In its most recent filing year (2023), Erie Regional Housing Development Corp reported a surplus of $72K, with revenue exceeding expenses. The organization holds $74K in liabilities against $1.7M in assets (debt-to-asset ratio: 4.5%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.6M | $1.7M | $74K | — | View 990 |
| 2022 | $1.4M | $1.1M | $1.6M | $49K | — | View 990 |
| 2021 | $1.4M | $1.1M | $1.3M | $20K | — | View 990 |
| 2020 | $1.4M | $1.4M | $1.2M | $261K | — | View 990 |
| 2019 | $1.9M | $2.0M | $1.1M | $64K | — | View 990 |
| 2018 | $1.9M | $1.8M | $1.3M | $177K | — | View 990 |
| 2017 | $1.8M | $1.6M | $1.1M | $204K | — | View 990 |
| 2016 | $1.8M | $1.5M | $927K | $233K | — | View 990 |
| 2015 | $1.7M | $1.6M | $903K | $448K | — | View 990 |
| 2014 | $2.0M | $1.9M | $843K | $521K | — | View 990 |
| 2013 | $2.5M | $2.7M | $850K | $597K | — | View 990 |
| 2012 | $2.7M | $2.7M | $756K | $331K | — | View 990 |
| 2011 | $2.1M | $2.3M | $889K | $413K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.6M, and assets of $1.7M (revenue +14.6% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.1M, and assets of $1.6M (revenue +2.8% year-over-year).
- 2021: Revenue of $1.4M, expenses of $1.1M, and assets of $1.3M (revenue +1.6% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.4M, and assets of $1.2M (revenue -27.0% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.0M, and assets of $1.1M (revenue -1.0% year-over-year).
- 2018: Revenue of $1.9M, expenses of $1.8M, and assets of $1.3M (revenue +7.3% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.6M, and assets of $1.1M (revenue +0.1% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.5M, and assets of $927K (revenue +5.0% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.6M, and assets of $903K (revenue -14.7% year-over-year).
- 2014: Revenue of $2.0M, expenses of $1.9M, and assets of $843K (revenue -20.6% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.7M, and assets of $850K (revenue -6.1% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.7M, and assets of $756K (revenue +25.9% year-over-year).
- 2011: Revenue of $2.1M, expenses of $2.3M, and assets of $889K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Erie Regional Housing Development Corp:
Data Sources and Methodology
This transparency report for Erie Regional Housing Development Corp 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.