Flemister Housing Development Fund Corporation
Flemister Housing Development Fund Corporation consistently operates at a deficit with growing liabilities exceeding assets.
EIN: 133725394 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $1.7M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1.6 |
| Net Assets | $-3,107,159 |
| Transparency Score | 60/100 |
Is Flemister Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Flemister Housing Development Fund Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Flemister Housing Development Fund Corporation
Flemister Housing Development Fund Corporation (EIN: 133725394) is a nonprofit organization based in New York, NY. The organization reported total revenue of $2.0M and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Flemister Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Flemister Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-46,070 |
| Total Assets | $5.4M |
| Total Liabilities | $8.5M |
| Net Assets | $-3,107,159 |
| Operating Margin | -2.7% |
| Debt-to-Asset Ratio | 157.7% |
| Months of Reserves | 37.2 months |
Financial Health Grade: C
In 2023, Flemister Housing Development Fund Corporation reported a deficit of $46K with expenses exceeding revenue, holds 37.2 months of operating reserves (strong position), has a debt-to-asset ratio of 157.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Flemister Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 4.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.0% | -11.3% | -0.5% |
| 2022 | -0.2% | +0.7% | -2.2% |
| 2021 | +27.8% | +4.6% | -4.9% |
| 2020 | -12.1% | +2.7% | -2.8% |
| 2019 | +1.4% | -0.6% | +7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Flemister Housing Development Fund Corporation with a Mission Score of 60 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, Flemister Housing Development Fund Corporation 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 deficit of $46K, with expenses exceeding revenue.
- Debt-to-asset ratio: 157.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is a positive indicator for minimizing overhead in this area relative to its revenue of over $1.6 million in recent years.
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 Flemister Housing Development Fund Corporation's IRS 990 filings:
- Consistent operating deficits, with expenses exceeding revenue in all reported periods from 2016-2023 (e.g., 2023: $1,736,835 expenses vs. $1,690,765 revenue).
- Significant and growing liabilities that consistently exceed total assets, indicating a negative net asset position (e.g., 2023: $8,493,992 liabilities vs. $5,386,833 assets).
- Lack of detailed functional expense breakdown (program, administrative, fundraising) in the provided data, limiting a full assessment of spending efficiency.
Strengths
The following positive indicators were identified for Flemister Housing Development Fund Corporation:
- Consistent filing of IRS Form 990s over 13 periods, demonstrating a commitment to public transparency.
- Reported 0% officer compensation across all available filings, indicating a commitment to minimizing executive overhead.
- Assets have shown growth over time, from $4,574,135 in 2017 to $6,225,976 currently, despite operating deficits.
Frequently Asked Questions about Flemister Housing Development Fund Corporation
Is Flemister Housing Development Fund Corporation a legitimate charity?
Flemister Housing Development Fund Corporation (EIN: 133725394) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 60/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.0M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Flemister Housing Development Fund Corporation spend its money?
Flemister Housing Development Fund Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Flemister Housing Development Fund Corporation tax-deductible?
Flemister Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 133725394). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Flemister Housing Development Fund Corporation CEO make?
Flemister Housing Development Fund Corporation's highest-compensated officer earns $1.6 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Flemister Housing Development Fund Corporation's spending goes to programs?
Flemister Housing Development Fund Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Flemister Housing Development Fund Corporation located?
Flemister Housing Development Fund Corporation is headquartered in New York, New York and files with the IRS under EIN 133725394.
How many years of IRS 990 filings does Flemister Housing Development Fund Corporation have?
Flemister Housing Development Fund Corporation 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 $2.0M in total revenue.
How does Flemister Housing Development Fund Corporation cover its consistent operating deficits?
The consistent operating deficits, where expenses exceed revenue (e.g., $1,736,835 expenses vs. $1,690,765 revenue in 2023), suggest the organization may be drawing down on prior reserves, receiving non-operating income not reflected in 'Revenue,' or increasing its liabilities to cover costs. The growing liabilities, reaching $8,493,992 in 2023, indicate a reliance on debt or other obligations.
What is the nature of the organization's significant and growing liabilities?
The liabilities have consistently exceeded assets, reaching $8,493,992 in 2023 compared to assets of $5,386,833. Without further detail from the 990, it's unclear if these are primarily program-related liabilities (e.g., mortgages on housing properties), operational debts, or other financial obligations. This negative net asset position is a significant financial concern.
What are the specific program activities and their associated costs?
The provided data lacks a detailed functional expense breakdown (program, administrative, fundraising). While the organization's name suggests housing development, without this breakdown, it's difficult to assess the proportion of spending directly on programs versus other overheads, beyond the 0% officer compensation.
Filing History
IRS 990 filing history for Flemister Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Flemister Housing Development Fund Corporation's revenue has grown by 75.1%, moving from $966K to $1.7M. Total assets increased by 1285.9% over the same period, from $389K to $5.4M. Total functional expenses rose by 85.4%, from $937K to $1.7M. In its most recent filing year (2023), Flemister Housing Development Fund Corporation reported a deficit of $46K, with expenses exceeding revenue. The organization holds $8.5M in liabilities against $5.4M in assets (debt-to-asset ratio: 157.7%), resulting in net assets of $-3,107,159.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.7M | $5.4M | $8.5M | — | View 990 |
| 2022 | $1.7M | $2.0M | $5.4M | $8.4M | — | View 990 |
| 2021 | $1.7M | $1.9M | $5.5M | $8.3M | — | — |
| 2020 | $1.4M | $1.9M | $5.8M | $8.4M | — | — |
| 2019 | $1.5M | $1.8M | $6.0M | $8.0M | — | View 990 |
| 2018 | $1.5M | $1.8M | $5.6M | $7.4M | — | View 990 |
| 2017 | $1.5M | $1.8M | $4.6M | $6.0M | — | View 990 |
| 2016 | $1.4M | $1.9M | $4.7M | $5.9M | — | View 990 |
| 2015 | $2.1M | $1.8M | $5.1M | $5.8M | — | View 990 |
| 2014 | $1.9M | $1.7M | $5.1M | $6.0M | — | View 990 |
| 2013 | $1.8M | $1.6M | $4.8M | $5.9M | — | View 990 |
| 2012 | $1.3M | $1.4M | $4.4M | $5.7M | — | View 990 |
| 2011 | $966K | $937K | $389K | $94K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.7M, and assets of $5.4M (revenue -2.0% year-over-year).
- 2022: Revenue of $1.7M, expenses of $2.0M, and assets of $5.4M (revenue -0.2% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.9M, and assets of $5.5M (revenue +27.8% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.9M, and assets of $5.8M (revenue -12.1% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.8M, and assets of $6.0M (revenue +1.4% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.8M, and assets of $5.6M (revenue +4.4% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.8M, and assets of $4.6M (revenue +2.3% year-over-year).
- 2016: Revenue of $1.4M, expenses of $1.9M, and assets of $4.7M (revenue -30.9% year-over-year).
- 2015: Revenue of $2.1M, expenses of $1.8M, and assets of $5.1M (revenue +6.1% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.7M, and assets of $5.1M (revenue +6.2% year-over-year).
- 2013: Revenue of $1.8M, expenses of $1.6M, and assets of $4.8M (revenue +36.3% year-over-year).
- 2012: Revenue of $1.3M, expenses of $1.4M, and assets of $4.4M (revenue +38.6% year-over-year).
- 2011: Revenue of $966K, expenses of $937K, and assets of $389K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Flemister Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Flemister Housing Development Fund Corporation 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.