Gates Senior Housing Inc
Gates Senior Housing Inc. reports a $489,722 deficit in 2023, following years of balanced operations and no officer compensation.
EIN: 161584166 · Rochester, NY · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.9M |
| Total Expenses | $4.7M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $4 |
| Net Assets | $-1,037,144 |
| Transparency Score | 85/100 |
Is Gates Senior Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gates Senior Housing Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gates Senior Housing Inc
Gates Senior Housing Inc (EIN: 161584166) is a nonprofit organization based in Rochester, NY, classified under NTEE code L22. The organization reported total revenue of $4.9M and total assets of $6.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gates Senior Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gates Senior Housing Inc is a mid-size nonprofit that has been operating for 26 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $4.7M |
| Surplus / Deficit | $-489,722 |
| Total Assets | $7.1M |
| Total Liabilities | $8.2M |
| Net Assets | $-1,037,144 |
| Operating Margin | -11.5% |
| Debt-to-Asset Ratio | 114.6% |
| Months of Reserves | 18.1 months |
Financial Health Grade: C
In 2023, Gates Senior Housing Inc reported a deficit of $490K with expenses exceeding revenue, holds 18.1 months of operating reserves (strong position), has a debt-to-asset ratio of 114.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Gates Senior Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.7% | +5.8% | +5.9% |
| 2022 | -0.6% | +9.4% | +12.3% |
| 2021 | +8.1% | -5.1% | +0.8% |
| 2020 | +2.0% | +9.3% | -5.9% |
| 2019 | +7.0% | -0.2% | -1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Gates Senior Housing 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Gates Senior Housing Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. 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 deficit of $490K, with expenses exceeding revenue.
- Debt-to-asset ratio: 114.6%.
Executive Compensation Analysis
Gates Senior Housing Inc. consistently reports 0% officer compensation across all 13 filings, indicating that no salaries or benefits are paid to officers, which is highly unusual for an organization of its size with annual revenues exceeding $4 million.
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 Gates Senior Housing Inc's IRS 990 filings:
- Liabilities consistently exceed assets, indicating potential long-term financial risk or reliance on debt financing.
- Reported a significant operating deficit of $489,722 in the latest 2023 filing, a departure from prior years' more balanced finances.
Strengths
The following positive indicators were identified for Gates Senior Housing Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating high efficiency in executive pay.
- Long history of IRS 990 filings (13 filings), demonstrating transparency and compliance.
- Stable revenue generation over the past decade, generally exceeding $3.5 million annually.
- Clear mission focus on senior housing (NTEE L22) with consistent operations.
Frequently Asked Questions about Gates Senior Housing Inc
Is Gates Senior Housing Inc a legitimate charity?
Gates Senior Housing Inc (EIN: 161584166) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $4.9M. 2 red flags identified. 4 strengths noted. Financial health grade: C.
How does Gates Senior Housing Inc spend its money?
Gates Senior Housing Inc directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Gates Senior Housing Inc tax-deductible?
Gates Senior Housing Inc is registered as a tax-exempt nonprofit (EIN: 161584166). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Gates Senior Housing Inc CEO make?
Gates Senior Housing Inc's highest-compensated officer earns $4 annually. The organization reported $4.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Gates Senior Housing Inc's spending goes to programs?
Gates Senior Housing Inc directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gates Senior Housing Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Gates Senior Housing Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gates Senior Housing Inc located?
Gates Senior Housing Inc is headquartered in Rochester, New York and files with the IRS under EIN 161584166. It is classified under NTEE code L22.
How many years of IRS 990 filings does Gates Senior Housing Inc have?
Gates Senior Housing 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 $4.9M in total revenue.
Is Gates Senior Housing Inc. financially stable despite the 2023 deficit?
While the 2023 filing shows a deficit of $489,722 (expenses of $4,733,213 exceeding revenue of $4,243,491), the organization has generally maintained balanced or surplus operations in prior years, such as 2022 where revenue slightly exceeded expenses. Its assets of $7,122,673 in 2023 provide some buffer, but the consistent higher liabilities warrant closer examination of its long-term financial strategy.
How does the lack of officer compensation impact the organization?
The consistent reporting of 0% officer compensation across all filings is a significant indicator that funds are directly allocated to the organization's mission rather than executive salaries. This can enhance donor confidence and suggests a highly volunteer-driven or externally managed leadership structure, which is a notable strength in terms of efficiency.
What is the trend in the organization's assets and liabilities?
Assets have fluctuated, reaching a high of $7,122,673 in 2023, but liabilities have consistently exceeded assets throughout the filing history. For example, in 2023, liabilities were $8,159,817 against assets of $7,122,673. This indicates a reliance on debt or other long-term obligations to finance operations and assets.
Filing History
IRS 990 filing history for Gates Senior Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Gates Senior Housing Inc's revenue has grown by 25.9%, moving from $3.4M to $4.2M. Total assets increased by 1.4% over the same period, from $7.0M to $7.1M. Total functional expenses rose by 42.2%, from $3.3M to $4.7M. In its most recent filing year (2023), Gates Senior Housing Inc reported a deficit of $490K, with expenses exceeding revenue. The organization holds $8.2M in liabilities against $7.1M in assets (debt-to-asset ratio: 114.6%), resulting in net assets of $-1,037,144.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $4.7M | $7.1M | $8.2M | — | View 990 |
| 2022 | $4.5M | $4.5M | $6.7M | $7.3M | — | View 990 |
| 2021 | $4.5M | $4.1M | $6.0M | $6.4M | — | View 990 |
| 2020 | $4.2M | $4.3M | $5.9M | $6.8M | — | View 990 |
| 2019 | $4.1M | $3.9M | $6.3M | $7.1M | — | View 990 |
| 2018 | $3.8M | $4.0M | $6.4M | $7.3M | — | View 990 |
| 2017 | $3.7M | $3.9M | $6.5M | $7.4M | — | View 990 |
| 2016 | $3.7M | $3.6M | $6.7M | $7.3M | — | View 990 |
| 2015 | $3.7M | $3.6M | $6.9M | $7.6M | — | View 990 |
| 2014 | $3.5M | $3.3M | $6.8M | $7.7M | — | View 990 |
| 2013 | $3.4M | $3.3M | $6.7M | $7.6M | — | View 990 |
| 2012 | $3.7M | $3.8M | $6.8M | $8.1M | — | View 990 |
| 2011 | $3.4M | $3.3M | $7.0M | $7.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $4.7M, and assets of $7.1M (revenue -5.7% year-over-year).
- 2022: Revenue of $4.5M, expenses of $4.5M, and assets of $6.7M (revenue -0.6% year-over-year).
- 2021: Revenue of $4.5M, expenses of $4.1M, and assets of $6.0M (revenue +8.1% year-over-year).
- 2020: Revenue of $4.2M, expenses of $4.3M, and assets of $5.9M (revenue +2.0% year-over-year).
- 2019: Revenue of $4.1M, expenses of $3.9M, and assets of $6.3M (revenue +7.0% year-over-year).
- 2018: Revenue of $3.8M, expenses of $4.0M, and assets of $6.4M (revenue +3.6% year-over-year).
- 2017: Revenue of $3.7M, expenses of $3.9M, and assets of $6.5M (revenue -0.8% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.6M, and assets of $6.7M (revenue +-0.0% year-over-year).
- 2015: Revenue of $3.7M, expenses of $3.6M, and assets of $6.9M (revenue +5.3% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.3M, and assets of $6.8M (revenue +5.0% year-over-year).
- 2013: Revenue of $3.4M, expenses of $3.3M, and assets of $6.7M (revenue -8.1% year-over-year).
- 2012: Revenue of $3.7M, expenses of $3.8M, and assets of $6.8M (revenue +9.1% year-over-year).
- 2011: Revenue of $3.4M, expenses of $3.3M, and assets of $7.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gates Senior Housing Inc:
Data Sources and Methodology
This transparency report for Gates Senior Housing 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.