General Chauncey M Hooper Towers Housing Development Fund Co Inc
Housing Development Fund consistently reports negative net assets and operational deficits, with no officer compensation.
EIN: 133140546 · Richmond Hill, NY · NTEE: L210 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $2.4M |
| Program Spending | 90% |
| Net Assets | $-4,336,333 |
| Transparency Score | 65/100 |
Is General Chauncey M Hooper Towers Housing Development Fund Co Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
General Chauncey M Hooper Towers Housing Development Fund Co Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About General Chauncey M Hooper Towers Housing Development Fund Co Inc
General Chauncey M Hooper Towers Housing Development Fund Co Inc (EIN: 133140546) is a nonprofit organization based in Richmond Hill, NY, classified under NTEE code L210. The organization reported total revenue of $2.2M and total assets of $6.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of General Chauncey M Hooper Towers Housing Development Fund Co Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
General Chauncey M Hooper Towers Housing Development Fund Co 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 | $2.3M |
| Total Expenses | $2.4M |
| Surplus / Deficit | $-123,607 |
| Total Assets | $6.4M |
| Total Liabilities | $10.8M |
| Net Assets | $-4,336,333 |
| Operating Margin | -5.4% |
| Debt-to-Asset Ratio | 167.5% |
| Months of Reserves | 32.2 months |
Financial Health Grade: C
In 2023, General Chauncey M Hooper Towers Housing Development Fund Co Inc reported a deficit of $124K with expenses exceeding revenue, holds 32.2 months of operating reserves (strong position), has a debt-to-asset ratio of 167.5% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.0% | -3.3% | +1.4% |
| 2022 | +3.5% | +11.3% | -10.4% |
| 2021 | +0.4% | +13.3% | -2.7% |
| 2020 | +5.2% | +0.2% | -11.3% |
| 2019 | +9.1% | -38.6% | -9.2% |
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 General Chauncey M Hooper Towers Housing Development Fund Co Inc with a Mission Score of 65 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: 90%
- fundraising: 0%
According to IRS 990 filings, General Chauncey M Hooper Towers Housing Development Fund Co Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $124K, with expenses exceeding revenue.
- Debt-to-asset ratio: 167.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through an external management agreement not reflected as direct officer pay on the 990s.
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 General Chauncey M Hooper Towers Housing Development Fund Co Inc's IRS 990 filings:
- Consistent negative net assets (liabilities exceed assets)
- Frequent operational deficits (expenses exceed revenue)
- Lack of clarity on how operational deficits are funded
Strengths
The following positive indicators were identified for General Chauncey M Hooper Towers Housing Development Fund Co Inc:
- Zero reported officer compensation, indicating efficient use of funds regarding executive pay.
- Focus on housing development, aligning with a clear community need (NTEE L210).
Frequently Asked Questions about General Chauncey M Hooper Towers Housing Development Fund Co Inc
Is General Chauncey M Hooper Towers Housing Development Fund Co Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, General Chauncey M Hooper Towers Housing Development Fund Co Inc (EIN: 133140546) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does General Chauncey M Hooper Towers Housing Development Fund Co Inc spend its money?
General Chauncey M Hooper Towers Housing Development Fund Co Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to General Chauncey M Hooper Towers Housing Development Fund Co Inc tax-deductible?
General Chauncey M Hooper Towers Housing Development Fund Co Inc is registered as a tax-exempt nonprofit (EIN: 133140546). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does General Chauncey M Hooper Towers Housing Development Fund Co Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), General Chauncey M Hooper Towers Housing Development Fund Co Inc is above average for NTEE category L210 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is General Chauncey M Hooper Towers Housing Development Fund Co Inc located?
General Chauncey M Hooper Towers Housing Development Fund Co Inc is headquartered in Richmond Hill, New York and files with the IRS under EIN 133140546. It is classified under NTEE code L210.
How many years of IRS 990 filings does General Chauncey M Hooper Towers Housing Development Fund Co Inc have?
General Chauncey M Hooper Towers Housing Development Fund Co 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 $2.2M in total revenue.
What is the nature of the significant liabilities consistently reported by the organization?
The filings consistently show liabilities significantly exceeding assets (e.g., $10,756,308 liabilities vs. $6,419,975 assets in 202309). Understanding if these are project-specific debts, mortgages, or other obligations is crucial for assessing financial health.
How does the organization cover its operational deficits?
Expenses frequently exceed revenue (e.g., $2,393,460 expenses vs. $2,269,853 revenue in 202309). It's unclear from the provided data how these deficits are funded or if they are part of a planned financial strategy for a housing development fund.
Is the organization's long-term financial model sustainable given its negative net asset position?
With assets consistently lower than liabilities, the organization operates with a negative net asset balance. The sustainability of this model depends on the nature of its assets and liabilities, and its ability to generate future revenue or secure additional funding.
Filing History
IRS 990 filing history for General Chauncey M Hooper Towers Housing Development Fund Co Inc showing financial trends over 13 years of public records:
Total assets increased by 57.1% over the same period, from $4.1M to $6.4M. Total functional expenses rose by 5719.5%, from $41K to $2.4M. In its most recent filing year (2023), General Chauncey M Hooper Towers Housing Development Fund Co Inc reported a deficit of $124K, with expenses exceeding revenue. The organization holds $10.8M in liabilities against $6.4M in assets (debt-to-asset ratio: 167.5%), resulting in net assets of $-4,336,333.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.4M | $6.4M | $10.8M | — | — |
| 2022 | $2.1M | $2.5M | $6.3M | $10.5M | — | View 990 |
| 2021 | $2.0M | $2.2M | $7.1M | $10.9M | — | View 990 |
| 2020 | $2.0M | $2.0M | $7.3M | $10.9M | — | — |
| 2019 | $1.9M | $2.0M | $8.2M | $11.8M | — | View 990 |
| 2018 | $1.7M | $3.2M | $9.0M | $12.6M | — | View 990 |
| 2017 | $1.6M | $1.6M | $3.3M | $5.4M | — | View 990 |
| 2016 | $1.5M | $1.5M | $3.4M | $5.5M | — | View 990 |
| 2015 | $-92,617 | $36K | $3.5M | $5.5M | — | View 990 |
| 2014 | $79K | $34K | $3.6M | $5.5M | — | View 990 |
| 2013 | $-189,248 | $26K | $3.6M | $5.6M | — | View 990 |
| 2012 | $-16,556 | $36K | $3.8M | $5.6M | — | View 990 |
| 2011 | $-90,108 | $41K | $4.1M | $5.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.4M, and assets of $6.4M (revenue +9.0% year-over-year).
- 2022: Revenue of $2.1M, expenses of $2.5M, and assets of $6.3M (revenue +3.5% year-over-year).
- 2021: Revenue of $2.0M, expenses of $2.2M, and assets of $7.1M (revenue +0.4% year-over-year).
- 2020: Revenue of $2.0M, expenses of $2.0M, and assets of $7.3M (revenue +5.2% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.0M, and assets of $8.2M (revenue +9.1% year-over-year).
- 2018: Revenue of $1.7M, expenses of $3.2M, and assets of $9.0M (revenue +11.7% year-over-year).
- 2017: Revenue of $1.6M, expenses of $1.6M, and assets of $3.3M (revenue +4.4% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.5M, and assets of $3.4M.
- 2015: Revenue of $-92,617, expenses of $36K, and assets of $3.5M (revenue -217.3% year-over-year).
- 2014: Revenue of $79K, expenses of $34K, and assets of $3.6M.
- 2013: Revenue of $-189,248, expenses of $26K, and assets of $3.6M.
- 2012: Revenue of $-16,556, expenses of $36K, and assets of $3.8M.
- 2011: Revenue of $-90,108, expenses of $41K, and assets of $4.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for General Chauncey M Hooper Towers Housing Development Fund Co Inc:
Data Sources and Methodology
This transparency report for General Chauncey M Hooper Towers Housing Development Fund Co 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.