Foresight Affordable Housing Pennsville Inc

Is Foresight Affordable Housing Pennsville Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Foresight Affordable Housing Pennsville Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Foresight Affordable Housing Pennsville Inc

Foresight Affordable Housing Pennsville Inc (EIN: 222262967) is a nonprofit organization based in Egg Hbr Twp, NJ. The organization reported total revenue of $1.8M and total assets of $2.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foresight Affordable Housing Pennsville Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Foresight Affordable Housing Pennsville Inc is a mid-size nonprofit that has been operating for 47 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 22.0%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: C

In 2023, Foresight Affordable Housing Pennsville Inc reported a deficit of $104K with expenses exceeding revenue, holds 18.5 months of operating reserves (strong position), has a debt-to-asset ratio of 260.1% (high leverage).

Financial Trends

Over 14 years of filings (2010–2023), Foresight Affordable Housing Pennsville Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.0%.

IRS Tax-Exempt Classification

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 Foresight Affordable Housing Pennsville 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: 10%
• programs: 85%
• fundraising: 5%

According to IRS 990 filings, Foresight Affordable Housing Pennsville Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $104K, with expenses exceeding revenue.
• Debt-to-asset ratio: 260.1%.

Executive Compensation Analysis

Executive compensation is reported as $0 across all available filings, suggesting either a volunteer-led structure or compensation is covered by a related entity not detailed in these filings.

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 Foresight Affordable Housing Pennsville Inc's IRS 990 filings:

• Total liabilities consistently exceed total assets, with 2023 showing $6,822,600 in liabilities against $2,623,570 in assets, indicating significant debt or long-term obligations.
• The organization's net assets have been consistently negative and decreasing over the years, from -$1,011,766 in 2017 to -$4,199,030 in 2023.

Strengths

The following positive indicators were identified for Foresight Affordable Housing Pennsville Inc:

• Revenue has remained remarkably stable over the past seven years, consistently around $1.5 million annually.
• The organization has maintained a consistent asset base, generally around $2.7 million to $3.1 million, despite significant liabilities.

Frequently Asked Questions about Foresight Affordable Housing Pennsville Inc

Filing History

IRS 990 filing history for Foresight Affordable Housing Pennsville Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Foresight Affordable Housing Pennsville Inc's revenue has grown by 1225.5%, moving from $121K to $1.6M. Total assets decreased by 30% over the same period, from $3.7M to $2.6M. Total functional expenses rose by 4642%, from $36K to $1.7M. In its most recent filing year (2023), Foresight Affordable Housing Pennsville Inc reported a deficit of $104K, with expenses exceeding revenue. The organization holds $6.8M in liabilities against $2.6M in assets (debt-to-asset ratio: 260.1%), resulting in net assets of $-4,199,030.

Year-by-Year Financial Summary

• 2023: Revenue of $1.6M, expenses of $1.7M, and assets of $2.6M (revenue +3.2% year-over-year).
• 2022: Revenue of $1.6M, expenses of $6.3M, and assets of $2.8M (revenue +1.3% year-over-year).
• 2021: Revenue of $1.5M, expenses of $1.3M, and assets of $2.7M (revenue +4.1% year-over-year).
• 2020: Revenue of $1.5M, expenses of $1.3M, and assets of $2.8M (revenue -3.9% year-over-year).
• 2019: Revenue of $1.5M, expenses of $1.4M, and assets of $2.9M (revenue +1.5% year-over-year).
• 2018: Revenue of $1.5M, expenses of $1.3M, and assets of $3.0M (revenue +1.1% year-over-year).
• 2017: Revenue of $1.5M, expenses of $1.3M, and assets of $3.1M (revenue +4.4% year-over-year).
• 2016: Revenue of $1.4M, expenses of $1.3M, and assets of $3.1M (revenue +1.2% year-over-year).
• 2015: Revenue of $1.4M, expenses of $1.3M, and assets of $3.3M (revenue +1.8% year-over-year).
• 2014: Revenue of $1.4M, expenses of $1.3M, and assets of $3.4M (revenue +0.6% year-over-year).
• 2013: Revenue of $1.4M, expenses of $1.3M, and assets of $3.5M (revenue +762.1% year-over-year).
• 2012: Revenue of $160K, expenses of $457K, and assets of $3.6M (revenue -67.9% year-over-year).
• 2011: Revenue of $498K, expenses of $78K, and assets of $4.0M (revenue +312.3% year-over-year).
• 2010: Revenue of $121K, expenses of $36K, and assets of $3.7M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Foresight Affordable Housing Pennsville Inc:

Data Sources and Methodology

This transparency report for Foresight Affordable Housing Pennsville 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.